(Spencer)– The Spencer Economic Development Corporation, or SEDC, is seeking proposals from qualified developers and builders for its Build Spencer: Single-Family Housing Incentive Program.
The initiative is designed to encourage new home construction and expanding housing opportunities in Spencer. It makes seven residential lots in the Fairgrounds Development along West 5th Street available to a single qualified purchaser for a total purchase price of one dollar. SEDC officials say it makes incentives available to both developers and future homeowners to bring new single-family housing to Spencer.
Under the program, three lots must have substantially completed homes by December 31st, 2027, with the remaining four completed by December 31st, 2028. Eligible developers will receive a $5,000 incentive per lot upon completion, while eligible homebuyers will be eligible to receive a separate $5,000 incentive per lot upon purchasing and occupying a completed home, subject to program requirements.
Qualified local and out-of-town developers, builders, contractors and others are encouraged to participate. SEDC officials say the seven lots must be purchased together by a single purchaser.
Developer proposals are due by 4:30 pm December 31st, 2026. More information can be found at SpencerEDC.com/BuildSpencer.
