Residential Real Estate Grant Program
Willow Creek Valley Economic Development Group (WCVEDG) Residential Real Estate Grant Program (As of 1/2017, this grant program is no longer active).
Goal: Incentivize acquisition and development of residential real estate in our service area. (Defined as townships adjacent to Willow Creek, and south to the Morrow County border) This need has been identified in each of the three incorporated cities strategic plans as well as the consolidated Willow Creek Valley strategic plan.
WCVEDG will grant funds on a first come, first serve basis to any person, (persons) or entity authorized to do business in Oregon that is acquiring residentially zoned real estate in our service area.
Grant proceeds are restricted to the lesser of ten percent (10%) of acquisition or documented construction costs or $5,000.00.
In the case of purchases that require development; 50% of the available proceeds will be provided at closing of the purchase transaction with the other 50% made available upon receipt of a qualified occupancy certificate. Construction and the corresponding occupancy certificate must be delivered within 18 months of acquisition or the remaining commitment is void and the funds are returned to the pool.
Every application is subject to funds availability and review by Willow Creek Valley Economic Development Board. The funds will be forwarded to the closing company to be applied at closing.
Any person or entity is eligible and we encourage you to consult with qualified income tax professionals regarding the reporting of receipt of these funds.
Grant amounts, program parameters, and availability are subject to change.