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Town Pays for New Residents
NEWTON, Iowa (KCCI-TV) The city of Newton now has a major incentive to get people to move there.
In established neighborhoods in the city, you see older homes for sale, but you don't see any new homes under construction.
"We do need some new development in Newton that we've been lax in and this will help," said Re/Max Realtor Jo Jenkins.
Jenkins is a longtime realtor who has seen a lot of changes since the Maytag plant closed in 2007, then the Iowa Speedway was built and 50 new businesses came to town.
"First of all, welcome to Newton and by the way here's $10,000 grand for making us your new home," said Craig Armstrong with the city of Newton.
Homeowners would get the check for $10,000 at the time of closing on their mortgage.
Armstrong is an economic development specialist. He said if the value of the new home is at least $160,000, the money is all yours.
"Could be for closing, down payment, landscaping or a trip to Europe for that matter," Armstrong said.
The offer caught the attention of Brock Patterson who runs BridgeHouse Coffee Co. on the town square.
"I think it's a great idea to jump-start new construction. As a buyer it's something you would take a look at," said Patterson.
"We're hoping young families with kids will see we have a great education system here. We're just 30 minutes east of Des Moines with a lot of things to do in Newton," said Armstrong.
The $10,000 is also offered to home builders, and the city will waive building permit fees.