(Spencer)--The Spencer Economic Development Corporation (SEDC) is inviting proposals from qualified developers and builders for its Build Spencer: Single-Family Housing Incentive Program, designed to encourage new home construction and expand housing opportunities in Spencer.
The program makes seven residential lots in the Fairgrounds Development along West 5th Street available to a single qualified purchaser for a total purchase price of $1. The initiative offers incentives to both developers and future homeowners to bring new single-family housing to the community.
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 also 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 other interested parties are encouraged to participate. The seven lots must be purchased together by a single purchaser. Developer proposals are due by 4:30 p.m., on December 31st, 2026
