City Assets and Opportunities

Available housing and building sites

 

BUILDING INCENTIVES AVAILABLE IN THE CITY OF PITTSVILLE:

Building Incentive with the CDA

On October 16, 2018, the Council agreed to partner with the CDA to provide an incentive to anyone interested in building a new home within the City of Pittsville.  The incentive is 4% of the assessed value up to $150,000 with a maximum award of $6,000.  The incentive is paid out after substantial completion is determined.

Spec Home Development Agreement

The City would donate an additional lot, maximum lot cost is $15,000 and the lot must be within the TIF District.  A "Spec Home Development Agreement" is ONLY available to commercially licensed contractors to build a spec home.  Qualifying lots must be within the TIF District.

  • $35,000 in "seed" money is available ONLY to commercially licensed contractors to build a spec home within the TID BOUNDARIES.  The "seed" money will be interest free until the house sells (at that time the $35,000 is due back to the City) or up to two years from when the house is finished but doesn't sell.  If it is over two years, the "seed" money is due back to the City plus interest at the rate of Prime + 1%.
  • The home must be built within one year of receiving the "seed" money
  • The home must be completed within one year from the commencement of construction
  • A basement is not required
  • A minimum of three bedrooms is required

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