Thursday, March 28, 2024

Claremont Council revises free lot qualification

The Claremont City Council last week made several adjustments to its program to encourage construction of single-family residences in the Claremont Development.

The city owns 14 single-family lots that are available on a first-come, first-served basis for those who wish to build a home.

Under the revised plan, a family of two or less can get a lot for free if their income is $81,700 or less. If the gross income is $81,701 or more they can purchase a lot for $9,500.

For families of three or more with a gross income of $93,955 or less the lot is free. If the gross income is $93,956 or more the cost for a lot is $9,500.

To take advantage of the lot program the city requires a letter from the lender showing pre-approval for a loan to finance the cost of constructing the home. For those wanting a free lot proof of income is required from either a month of pay stubs, a W2 or a Federal Tax Return.

After selecting a lot, a purchase agreement will be required and the buyer will need to pay the city a $1,000 non-refundable administrative fee. The City Council will then need to approve the purchase agreement.

 

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