GRANITE CITY – The beginning of a major housing transformation is occurring in a steel manufacturing town just 10 miles northeast of St. Louis. The third-largest city in Southern Illinois (population 27,549), Granite City is taking an entrepreneurial, homeowner incentives-based approach to revitalizing its housing stock, attracting investment, and bolstering pride in homeownership. Granite, as locals refer to it, is launching a pilot program to incentivize home buyers and investors to increase homeownership and community pride the historic neighborhoods of Lincoln Place, West Granite, and the downtown area. The city’s recipe for success? Pairing two respected economic development incentives – one that waives sales tax for major home improvements, with another that holds a homeowner’s property tax constant for 10 years, based upon the assessed value prior to when any of the home improvements have occurred. The result is a powerful homeowner-specific incentives
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