Below are the guidelines and application forms for the incentives currently being offered by the city of Fayette. Download, print and complete.


NEW SINGLE AND FAMILY HOME BUILDERS & NEW COMMERCIAL CONSTRUCTION INCENTIVE PROGRAM JULY 15, 2019 - DECEMBER 31, 2020

INCENTIVE DESCRIPTION - INCENTIVE

  • *After Completion and Inspection of a new home or new business with an appraised value of $125,000 to $174,999* - receive $10,000.00
  • OR *After Completion and Inspection of a new home or new business with an appraised value of $175,000 or more* - receive $15,000.00
  • OR *After Completion and Inspection of a new home or new business with an appraised value of $175,000 or more constructed on land that required the demolition*** of a home or business of lesser value* - receive $20,000.00
  • OR *After Completion and Inspection of a new home or business with an appraised value of $124,999 or under, an annual rebate on CITY Property Taxes for three (3) years (up to $700 per year)* - receive up to $2,100.00 in tax rebates
  • **Water/Sewer Connection Fees waived per city hook-up** - receive up to $150.00  

*Note:  Only the first three qualified new homes or new businesses constructed and inspected will receive the incentives per calendar year.

**Note:  Property owners in the new Westfield Addition on Stone Man Court are required to pay a sewer connection fee of $1,000, per Chapter 100 of the City Code.    

***Note:  New construction of home or business must be completed within 2 years of the demolition date as indicated on the demolition permit.  Demolition must begin after August 1, 2019.  The Council may extend the deadline upon written application submitted to the City Council prior to the expiration of the initial deadline and supported by good cause beyond the applicant’s control.  Improvement by total demolition of structure(s).  No partial demolition of a structure(s) shall qualify.

A Fayette property owner may turn in a completed application to the City Administrator/Clerk at Fayette City Hall, 11 S. Main Street, Fayette, Iowa, on forms provided by the City of Fayette for the New Construction Incentive after the construction of the new house or business is completed and has been appraised by Fayette County.  Funds, as available, may be awarded for the new construction for the qualified property after being reviewed and approved by the City Council of the City of Fayette and funds awarded as the council deems best promotes the purpose of the incentive.  A qualified property may only receive a single award of incentive funds.  Applications which are not funded may reapply only one additional time.  For the purposes of this incentive, a qualified applicant is defined as the current owner of a property.  For the purposes of this incentive, the following guidelines must be met:

  • The following will not be funded:
    1. Trailers or Mobile Homes
    2. Garages or accessory buildings
    3. Structures damaged by natural disasters or fire
  • Non-profit organizations are not eligible for program funds unless prior approval from the City Council.

Applications will not be approved immediately, so the City Council will have time to review all documentation submitted.


Fayette's downtown business district is in an Urban Revitalization area so property owners may get a three year 100% tax abatement on improvements made to a building. 

Also, if a new business constructs a new building in our Tax Increment Financing (TIF) District, then the city can give a Tax Abatement through TIF. 

Call or stop by Fayette City Hall, 11 S. Main Street, and ask about these incentives.    

There is no place like home. And there is no place like Fayette.

11 S. Main Street

563.425.4316

info@fayetteiowa.com

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