Yorkville renews program to encourage home building
By Steve Lord firstname.lastname@example.org February 14, 2014 11:46AM
Updated: March 18, 2014 6:11AM
YORKVILLE — Aldermen here have approved renewal of the BUILD program that pays people to move and build a new house in the city.
The vote to renew BUILD — which stands for Buyers of Undeveloped Infill Lot Discount — was 6-2, with aldermen Carlo Colosimo, 1st Ward, and Rose Spears, 4th Ward, voting against it.
The program rebates up to $10,000 to a new homeowner at the time they occupy their new house.
BUILD was created in March 2012 and renewed both in July 2012 and March 2013. It basically rebates up to $5,000 in city development fees to a person who agrees to build a new house on an existing improved lot in Yorkville. The builder matches that with another $5,000.
It was done at a time when the real estate bust had left Yorkville with almost no building going on in more than 20 subdivisions where the lots had been approved, but were sitting empty.
At one time, Yorkville was one of the fastest-growing towns in one of the fastest-growing counties in America. In 2006, the city posted a high of 753 single-family detached building permits, and another 68 single-family attached permits.
By 2009, that was down to 64 total permits, and hit a low of 43 by 2011.
After BUILD was instituted, the total went up to 67 and this past year, it was up to 81. Most of those — 47 — were BUILD permits, while the other 34 were regular single-family permits.
According to a survey taken of BUILD participants, 77 percent said they were looking at other communities at the time they ended up building in Yorkville. Some 97 percent said they would recommend BUILD to a friend.
The program is changed slightly for this year, with the possibility that the rebate could be less than $10,000 in some subdivisions.
In Windett Ridge and Autumn Creek, the city’s development fees do not typically get as high as $5,000. Some of the reason for that is the subdivisions and the city renegotiated fees lower.
City staff said that means the city could just rebate its fees, which total between $2,500 and $2,700 in those subdivisions typically. The renewed BUILD ordinance says the developer will match the city’s donation “dollar for dollar.”