Free Land!!
That's right! An 86' x 133' lot in a new addition on the NW side of New Richland.

Requirements
You must build a new home within 1 year after the property is deeded to you.  There are additional building covenants specific to this subdivision.

Assessments
You will get the land for FREE!

However, you will be assessed for part of the cost to develop your property with streets, curb & gutter and water & sewer.

Total estimated cost per lot for development is approximately $25,000.  Through the use of Tax Increment Financing (TIF) we will be able to reduce this cost to about $14,000*.  This will be payable, by you over a 15 year period.  It is simply collected semi-annually with your Real Estate Taxes.

Instant Equity
Some lenders will allow the FREE land to be used as equity (down payment) for a home construction loan, allowing the Assessments to continue to amortize to the City.

About New Richland
With a population of about 1200, New Richland is located just minutes west of Interstate 35 in Southern Minnesota.  New Richland is about 13 miles south of Waseca, 20 miles north of Albert Lea, 26 miles southwest of Owatonna, 40 miles southeast of Mankato, 60 miles west of Rochester and 75 miles to the southern edge of the Twin Cities.

The Riverview Golf Course, St. Olaf Lake Beach and Parks and Bike Trail are just a few of the amenities offered.  The NRHEG School provides many academic, fine arts and extra curricular opportunities.  The K-12 curriculum offered is outstanding, as verified by the exceptional test scores of the students.  Many churches and services are offered in New Richland.

For more information please contact us by either calling (507)465-3514 or by sending us an e-mail.

* You will qualify for these reduced Assessments if you make less than the income guidelines below.  If you make more than the income guidelines you can still qualify for a lot, but will not qualify for the reduced assessment amount listed above.

Family of:                            Income (Line 34 of 1040 Tax Return)
2 or fewer                             $66,950
3 or more                              $76,993