The “Make Marshalltown Home” Program

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June is National Home Ownership Month. So it seems appropriate to have at least one article on on way for others to invest in your community. In it’s simplest form, that’s what home ownership is to communities. It is an investment, on par as far as importance as a new business or philanthropic donation. And Marshalltown, Iowa understands the importance of new homeowners to a community.

The City of Marshalltown, along with the Marshalltown Area Chamber of Commerce and some private investors, have started the “Make Marshalltown Home” program.

Program Details

Through the program, homebuyers will receive $10,000 if they purchase a newly constructed home in Marshalltown. The program is restricted to new home construction valued at $180,000 that’s been given a building permit since June 1st of this year. Funds are limited though, so the program provides funding for just the first 100 homebuyers to purchase a newly constructed home in Marshalltown.

The Chamber has an ambitious plan to nearly double the city’s population by 2030. They also have a goal to cut the commuter rate of 22% in half as well. This program should provide a kick-start towards those goals, potentially drawing in commuters to move to the community to live there full-time.

However, such a program is not possible without a significant investment by those involved. Both the Chamber and the City of Marshalltown committed $250,000 to the effort. They were also able to obtain commitments from the MARSHALLTOWN Company, John and Michele Dawley, Emerson, Mechdyne Corporation, Clover Family Multiplier Trust and the Marshall County Board of Supervisors.

Housing Construction

Doesn’t Have to be Groundbreaking to be Great

Grants by communities to incentivize new housing construction aren’t new. They’ve been around for quite a while actually. The nearby community of Newton, Iowa (a recent Star Community) has a similar program themselves.

But it doesn’t matter if it was your own idea, or concept replicated in many communities throughout the Midwest. What matters is making the effort to make the change. Raising this amount of capital for a program like this is tough in many smaller communities. It is nearly impossible for some.

But the representatives of Marshalltown have shown the commitment to providing more new, quality housing to their community.