MOLINE, Illinois—
Moline is looking for ways to beef up the building of new homes. That's why aldermen are considering incentives to reward buyers. It's a package to grow the city and spark economic development.As workers place sod for an upcoming open house, the Beaver Woods subdivision is the exception rather than the rule. That's because Moline's new home construction dropped 64% during the past year. That's sparking a call for incentives.
"It's needed," said longtime builder Bob Buker, CEO of Beaver Builders. "Right now, there's just so little activity in Moline."
Buker is backing the new Single Family Home Construction Incentive Program. If approved by aldermen, buyers will be able to get a property tax rebate up front or spread out over 10 years.
"To be able to have up to an extra $8,500 for your down payment is a real plus," Buker said.
Supporters want to level the playing field within the Quad Cities. Davenport and Rock Island already offer similar programs. It will help Moline to be more competitive. It will also help to energize economic development.
"Retail businesses tend to count rooftops," said Jim Bowman, executive director of Renew Moline. "The more households that are here will most likely be more successful attracting national firms and businesses."
The incentive program offers plenty of room for growth. Beaver Builders has a dozen lots on its site that are ready for construction.
The city also wants developers to build on land south of the Rock River. There's potential for about a thousand new homes.
"The incentives should hopefully get people to build new homes in Moline," said Ray Forsythe, director of planning and development in Moline. "And then buyers to buy those new homes."
At the Beaver Woods subdivision, it's all about the future. Emerging from the downturn, it's blending low mortgage rates and incentives to help build a city.
"This is big time," Buker concluded. "This is the time to buy a home."
