March 18, 2024

Fountain Hills homes eligible for home incentive

To lessen confusion for home buyers, city council approved homes in Fountain Hills to participate in the city’s $10,000 cash house incentive program. Due to an agreement between the city and Venture Homes, the houses in the subdivision previously didn’t qualify for the program.

“The city had acquired the lots in Fountain Hills through a tax sale certificate process and accordingly offered them to builders at a cost of just $1 each. This deal was in place prior to the city offering $10,000 to new home buyers,” interim city administrator Jarrod Wellik said.

When the program was established, the Fountain Hills properties were specifically excluded from the incentive, due to the price break the homes were already getting on the land price. The exclusion, however, has led to confusion and issues from a marketing standpoint and has hindered Venture Homes’ efforts to sell the homes it has built, Wellik said.

To remedy the problem, Venture homes proposed to change the purchase price of the lots from $1 to $10,000, upon closing on the home, letting the home buyers become eligible for the $10,000 cash incentive.

The change will have no financial impact on the city but would streamline the marketing efforts for both the city and Venture Homes.

“I can understand where there is confusion from buyers, so as long as they are covering the cost, it will end up with everyone being happy,” councilwoman Evelyn George said.

Mayor Mike Hansen agreed with George saying he wants to lessen any confusion for home buyers.

“We don’t want to have that confusion with such a great program. We want to make it available to everybody who is eligible and continue to run out of lots,” Hansen said.

Venture Homes initially purchased lots in Fountain Hill Estate subdivision to build new, upscale speculative homes in 2014 on a three year deal. The city renewed the agreement with the company for a one-year term through Dec. 31. To date, Venture Homes has constructed four homes in Fountain Hills.

Contact Jamee A. Pierson at
641-792-3121 ext. 6534
or jpierson@newtondailynews.com