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Single-Family Home Buyer Assistance Program

Updated: Feb 10

In collaboration with the City of Valley City and Barnes County Commissions, we are pleased to announce a second year of funding for the Single-Family Home Buyer Assistance Program!


The Barnes County Housing Survey in the fall of 2024 identified that the the most impactful resources to address housing challenges in our community would be increased housing inventory and financial assistance programs. This program was based off those survey results.


Goals

  • Increase housing inventory

  • Increase and retain population

  • Increase tax base


Benefits to Home Buyers

  • Up to $40,000 towards a new home within city limits and up to $15,000 towards a new home in Rural Barnes County

  • Waive tap fees and temporary meter charges for new homes in city limits


Program Overview

Uses of Funds

  • Down payment assistance

  • Home construction costs


Other

  • Applications are accepted on a first come, first served basis

  • Limited to 4 projects in city limits and 6 in rural Barnes County, or when funds are exhausted, whichever is first


Eligibility

  • Single-Family, Twin, Town, or Modular Homes, Row Houses

  • Rental properties, manufactured and mobile homes are NOT eligible


Criteria

  • Must be owner's primary residence and subject to property taxes

  • Contingent on documentation indicating financial ability to complete construction

  • Incentive is based on appraised value or purchase price, whichever is less

  • Home buyer must contribute a minimum of 5% cash down payment

  • Payback is required if home buyer vacates the home within 5 years from the date on the the Certificate of Occupancy

    • Pro-rated at 20% for each year lived in new home


City vs County Projects

Within City Limits

  • Up to $40,000 (up to $30,000 of economic development funds and $10,000 through the City's homebuyer assistance enterprise fund)

  • Can be utilized to purchase a newly constructed home that has not been previously occupied

  • If the new home is constructed in the Renaissance Zone and the home buyer secures a Renaissance Zone property tax exemption, the City’s $10,000 cash investment will be reduced to an amount no lower than to $3,200. If the homeowner chooses to not utilize a Renaissance Zone property tax exemption, the full cash amount is available.


In Rural Barnes County

  • Up to $15,000 of economic development funds


Program Guidelines

We suggest that program applicants review the full guidelines prior to applying.




Process

To be placed on the first come, first served list, you must submit the following to the VCBCDC:

  • Building permit including legal description and physical address

  • Documentation indicating financial ability to complete construction

  • Online data collection form (linked to the left, printable and embedded versions below)

  • Completed W-9

These documents can be submitted to VCBCDC, 250 West Main Street, Valley City, ND 58072 or emailed to jennifer@developvcbc.com.




New Homes Built Within City Limits

To receive the $10,000 funded through the City's homebuyer assistance enterprise fund and waive your utility tap fees and temporary meter charges, the following forms must be completed and submitted to the City of Valley City. Please note with the Water and Sewer Tap/Cap permit when submitting that you are utilizing the Single Family Home Buyer Assistance Program.







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