"$10,000 grants available for home lots in crime free town." That’s the slogan Paw Paw is using to draw new homeowners. Located just outside Chicago and Rockford this small community of only 850 is hoping to grow.
Paw Paw’s Mayor Jared Nicholson says, “We were low on lots and building lots in town and it was apparent that there was building and growing going on east of us and we needed a tool like a TIF district to help.”
By creating the TIF district, homeowners are able to save thousands on the purchase price of their lots and construction is completed sooner. Interested homebuyers obtain the $10,000 grant by completing construction within one year of purchasing the lot.
Realtor Neva Grevengoed says there’s been lots of interest and talks about the lots and their going faster than expected. In fact half of the lots in the first phase of development have already been sold. The biggest selling points are a well funded school district and plenty of job opportunities.
“We see a lot of stuff springing up and a lot of business in DeKalb and Sugargrove, Aurora and Sandwich area. East of us you also see a lot of growth opportunities north of us a few miles in Rochelle” says Nicholson.
Homebuyers with kids who move to Paw Paw can also look forward to schools with small class sizes and new buildings. The grants are for lots in a new subdivision being built just minutes away from the schools. Construction is expected to be complete by spring of 2005.