Housing Incentives - KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: newswest9.com |

Housing Incentives

 

by Victor Lopez
NewsWest 9

ODESSA - It's part of the City's Workforce Housing Incentive Program.  But this incentive isn't for the buyer, it's for the builder.

According to the City of Odessa, it's a win-win situation.   Builders and developers in Odessa make homes that are more affordable to you and me and in return they get a little some extra for their efforts.

Blueprints, a cement foundation, stacks of lumber, mortar and bricks, are all the ingredients needed to build the american dream and make it a little more affordable.  

Assistant City Manager Michael Marrero says, "The city wanted to do something to assist those individuals who are looking for homes that are more moderately priced."

The new homes fall into a certain price range.   But thanks to the City of Odessa, new home owners aren't the only ones reaping the benefits.  The builders are cashing in too.

Marrero explains, "What the city is able to do through this program is offer a developer who is building a home between 70 thousand and 170 thousand dollars, a financial incentive anywhere between 4,000 and 5,500 dollars."

According to the Assistant City Manager, all this is being done in hopes to stimulate more construction.   The idea seems to have taken off.  "Since we started the program, we have agreements with six developers to build some 111 homes, of which, we've already closed on 26."

Marrero also says any builder or developer can participate in the program as long as they do one thing, "They can build anywhere they choose to build, as long as it's within the city limits of Odessa."

Once they're built, these homes go on the market for potential buyers.  That is, if they haven't already been sold.

"Given the price of some of these homes, it's just more accessible to a large part of our workforce."

If you want to know more on how you can participate in this program, just call the City of Odessa at 335-4107.

Powered by Frankly