PROGRAMS PHOENIX PROGRAM 3C: NEW CONSTRUCTION BY OWNER OR GENERAL CONTRACTOR

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1 PROGRAMS PHOENIX PROGRAM 3C: NEW CONSTRUCTION BY OWNER OR GENERAL CONTRACTOR *PCDC s definition of a General Contractor is the owner of the property OR the company hired to be responsible for the day-to-day oversight of a construction site, management of vendors and trades, and the communication of information to all involved parties throughout the course of a building project. General Contractor Lot Demolition Grant $5,000 no payback General Contractor must complete application and receive PCDC s approval before starting the demolition or lot preparation for construction. Grant funds can be used for any materials or labor used for the project. Final housing project may include single-family house, townhome, or condo valued at $225,000 or less. Higher amounts can be awarded by PCDC s Executive Committee. By signing the application, Applicant gives PCDC permission to use before and after pictures of the improvements for any marketing purposes. Receipts/Invoices and photos of the improvements must be turned in to PCDC to receive funds for the improvements. General Contractor Sales Tax Holiday $5,000 no payback Rebates of sales taxes to developers or General Contractors for construction materials on houses valued at $225,000 or less. New construction/build projects only for Single-family, multi-family townhomes or duplexes built for sale. General Contractors must apply and be approved by PCDC BEFORE construction begins on a project. Applications made after work commences may not receive benefits. 100% of sales tax rebated materials purchased in Phelps County up to $5,000 per unit. 50% of sales tax rebated for materials purchased outside Phelps County up to $2,500 per unit. Total rebate maximum is $5,000 per project with no exceptions. For reimbursement, General Contractor/Developer must turn in invoices/receipts once project is completed. PCDC Down Payment Assistance Grant $5,000 no payback PCDC will match dollar for dollar, up to $2,500, any Phelps County employers contributions designed to assist a current employee living outside the county or a new employee to move to Phelps County. Employer may grant or loan more than $2,500. They will determine what they are willing to give and PCDC will match only up to $2,500 or if the employer wants to grant lesser amount, PCDC will match dollar for dollar. Employer must complete the application and provide to PCDC for review and approval 3 weeks prior to the escrow closing of the employee s new property. Beyond PCDC s residency requirement, the employer will establish its own criteria to inform and then select employees that are eligible for the assistance. 8

2 PROGRAMS PHOENIX PROGRAM 3C continued: PCDC will provide its payment directly to the employer once the escrow closing has occurred and closing documents (i.e. buyer s closing statement, copy of the check or check stub used for the closing) have been provided to PCDC for review. Check will be made payable to the EMPLOYER, unless other arrangements have been made between employer and PCDC. Down payments may be used for the purchase of a single-family house, townhome, or condo but may not be used for mobile homes or any other style home that is not permanently affixed to a foundation. Buyers Lot Purchase Loan $5,000 5-year Forgivable Loan Loan is available for New or Existing Phelps County Residents. Any empty lot or lot with demolition of existing dilapidated house/structures qualify. Final project may include single-family house, townhome, or condo valued at $225,000 or less. Buyer must apply and receive approval for grant 2 weeks before closing on property. 7 days prior to closing, PCDC will need a copy of the Buyer s Closing Statement. For day of closing, PCDC will provide a cashier s check made payable to the Title Company or attorney s office who is performing the closing along with a Deed of Trust to be recorded against the property. Construction of new build single-family house, townhome or condo must be started within 12 months of closing unless prior arrangements are made between buyer and PCDC. Current owners must contact PCDC to obtain a payoff if refinancing or sale of property to obtain a Deed of Reconveyance. Repayment will be determined by how many years applicants resided in property ($1,000 forgiven per full year lived in property. Automatic forgiveness after five years). By signing the application, Applicant gives PCDC permission to use before and after pictures of the improvements for any marketing purposes. 9

3 GO! HOME: Residential Lot Demolition Grant to General Contractor (PROGRAM 3C) APPLICANT S NAME: IF APPLICABLE, DOING BUSINESS AS: APPLICANT S ADDRESS: APPLICANT S PHONE NUMBER: PROPERTY S ADDRESS: PROPERTY LEGAL DESCRIPTION: LOT TITLE OWNER: PLANS AND ESTIMATED COSTS FOR DEMOLITION/LOT PREP: _ CURRENT PROPERTY VALUE: ESTIMATED VALUE AT COMPLETION: PROJECT START DATE: PROJECT COMPLETION DATE: TYPE OF STRUCTURE WILL BE BUILT ON LOT: CUSTOM OR SPEC HOME: AFTER COMPLETION, OWNER OCCUPIED OR RENTAL: _ NUMBER OF LIVING UNITS: **PLEASE ATTACH BEFORE PHOTOS OF THE LOT WITH APPLICATION. SIGNATURE OF APPLICANT DATE SIGNATURE OF APPLICANT DATE NOTES:

4 GO! HOME: CONTRACTORS SALES TAX HOLIDAY (PROGRAM 2, 3B, & 3C) APPLICANT S NAME: IF APPLICABLE, DOING BUSINESS AS: COMPANY ADDRESS: CONTACT PHONE NUMBER: _ LOT TITLE OWNER: PROPERTY LEGAL DESCRIPTION: PROJECT ADDRESS: ESTIMATED TOTAL PROJECT COST: CURRENT PROPERTY VALUE: ESTIMATED VALUE AT COMPLETION: AFTER COMPLETION, OWNER OCCUPIED OR RENTAL: NUMBER OF LIVING UNITS: ESTIMATED PROJECT COST PER LIVING UNIT: _ SIGNATURE OF PROPERTY OWNER DATE SIGNATURE OF PROPERTY OWNER DATE SALES TAX REBATE REQUEST: DATE PROJECT COMPLETED: REBATE REQUESTED: SUBMITTED BY: SIGNATURE: SUMMARY (LISTING OF RECEIPTS & AMOUNTS BY LOCATION OF PURCHASE) INCLUDED: YES / NO PCDC NOTES AND FOLLOW UP INFO:

5 GO! HOME: PCDC DOWN PAYMENT ASSITANCE MATCHING GRANT TO EMPLOYER (PROGRAM 1, 2, 3A, 3B, & 3C) DATE OF EMPLOYER: EMPLOYER REPRESENTATIVE/TITLE: SIGNATURE: AMOUNT REQUESTED: EMPLOYER S MATCH AMOUNT: EMPLOYEE S NAME: EMPLOYEE S POSITION: EMPLOYEE S PHONE NUMBER: DATE OF EMPLOYMENT: _ NUMBER OF PEOPLE IN THE EMPLOYEE S FAMILY: EMPLOYEE S CURRENT ADDRESS: HOW LONG HAS EMPLOYEE BEEN AT CURRENT ADDRESS: IF LESS THAN 12 MONTHS, PREVIOUS ADDRESS: EMPLOYEE S NEW ADDRESS: _ ANTICIPATED CLOSING DATE ON HOME: PCDC NOTES AND FOLLOW UP INFO:

6 GO! HOME: Residential Lot Purchase Forgivable Loan to Buyer (New or Existing Resident) (PROGRAM 2 & 3C) APPLICANT S NAME: IF APPLICABLE, DOING BUSINESS AS: APPLICANT S ADDRESS: APPLICANT S PHONE NUMBER: PROPERTY S ADDRESS: PROPERTY LEGAL DESCRIPTION: DATE OF CLOSING ON THE PROPERTY: _ IS STRUCTURE DEMOLITION NECESSARY: PLANS AND ESTIMATED COSTS FOR IMPROVEMENTS: CURRENT PROPERTY VALUE: ESTIMATED VALUE AT COMPLETION: CUSTOM BUILD OR SPEC HOME: TYPE OF STRUCTURE: AFTER COMPLETION, OWNER OCCUPIED OR RENTAL: _ START DATE OF PROJECT: COMPLETION DATE OF PROJECT: _ HAVE YOU NOTIFIED YOUR LIEN COMPANY TO TELL THEM THAT PCDC WILL BE ADDING A DEED OF TRUST? _ **PLEASE ATTACH BEFORE PHOTOS OF THE LOT WITH APPLICATION. SIGNATURE OF APPLICANT DATE SIGNATURE OF APPLICANT DATE NOTES: _