Housing Incentive Program

The City of Silver Bay Economic Development Authority 2022 New Home Grant Program’s purpose is to aggressively promote the construction of new housing units in the City of Silver Bay.

Individuals, builders, developers or companies who agree to construct a new home, townhome, condo or apartment unit in the City of Silver Bay in 2022 will receive a cash grant upon completion of the home/unit in the amount of:

• 10% of the home or unit’s assessed value; or
• 15% of the home or unit’s assessed value if the owner agrees to occupy the home as a homestead residence continuously for 10 years.

Click on the links for the program guidelines and application.

For more information, please contact David Drown, Economic Development Director at david@daviddrown.com or 612-414-8486.  Applications can be submitted via email to david@daviddrown.com or delivered to City Hall, ATTN: Economic Development Director, 7 Davis Drive, Silver Bay, MN 55614.