MONROE — Green County Development Corporation (GCDC) this week announced the launch of Welcome Home Green County, a first-time home buyer 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.
“Green County is a place of opportunity, where you are a part of something bigger than yourself and your work matters,” said Olivia Otte, Executive Director of GCDC. “Welcome Home Green County was built to help people turn that opportunity into a home, and to help them get plugged into the community from day one.”
Under the program, eligible first-time home buyers 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 home buyer, 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,” said 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.