Green County Development Corporation Launches Welcome Home Green County, a $10,000 Grant Program
GREEN COUNTY DEVELOPMENT CORPORATION
Green County Development Corporation | greencountydevelopment.com | 608-328-9452
FOR IMMEDIATE RELEASE
Media Contact:
Olivia Otte, Executive Director
Green County Development Corporation
gcdc@greencountydevelopment.com | 608-328-9452
Green County Development Corporation Launches Welcome Home Green County, a $10,000 Grant Program for First-Time Homebuyers
New program pairs down payment assistance with volunteer service to help newcomers put down roots in Green County
MONROE, Wis. — Green County Development Corporation (GCDC) today announced the launch of Welcome Home Green County, a first-time homebuyer program that provides a $10,000 grant toward the purchase or construction of a home in Green County in exchange for volunteer service in the community.
Under the program, eligible first-time homebuyers receive a $10,000 grant at closing, secured by a subordinate mortgage on the property. In exchange, recipients complete 100 hours of volunteer service over five years, 20 hours per year, with an approved Green County nonprofit organization. After five years of continuous ownership and completion of the volunteer requirement, the grant is fully forgiven and the lien is released. If a recipient sells the home within five years, the grant is repaid on a prorated basis.
To qualify, applicants must be at least 18 years old, be a first-time homebuyer, purchase or build an owner- occupied home in Green County (or in a municipality partially located in Green County), contribute at least $5,000 in personal funds toward the purchase, and have a total household income of at least $55,000 per year.
Applicants must also receive a mortgage prequalification or preapproval from The Bank of New Glarus and pass a background check.
Welcome Home Green County is made possible through a $690,000 investment from Colony Brands Foundation, the Wisconsin Economic Development Corporation (WEDC), Klondike Cheese Company, The Bank of New Glarus, and Grandé.
“The Welcome Home initiative represents a major ‘win win.’ First time home buyers get meaningful financial backing while establishing roots in Green County. This is exactly the type of high impact community program the Colony Brands Foundation is looking to help drive and support.” - John Baumann, President of Colony Brands Foundation.
Prospective applicants can find out if they may be eligible by completing a short prequalification questionnaire at greencountydevelopment.com. Applicants who prequalify will receive the full application and a step-by-step guide to the closing and volunteer process.
For more information about Welcome Home Green County, or to learn about GCDC's other economic and community development initiatives, visit greencountydevelopment.com or contact GCDC at gcdc@greencountydevelopment.com or 608-328-9452.
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About Green County Development Corporation
GREEN COUNTY DEVELOPMENT CORPORATION
Green County Development Corporation | greencountydevelopment.com | 608-328-9452
Green County Development Corporation (GCDC) is a nonprofit regional economic development organization based in Monroe, Wisconsin, dedicated to growing Green County's economy and communities. GCDC leads initiatives spanning housing development, broadband and digital equity, workforce development, and business retention and expansion, in partnership with municipalities, private investors, and community organizations across Green County.
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