A program is being launched in Lismore today that will give $20,000 to people who buy a vacant lot on one of five lands releases around Lismore.

Under the program, 200 grants will be made available to people with low to moderate incomes to help them achieve home ownership.

Called the Build Your Future: Lismore Housing Subsidy Scheme, it is part of the Federal Government’s Building Better Regional Cities program.

Lismore council’s development and compliance manager Peter Jeuken said when combined with the NSW First Home Buyers grants of $15,000, there was a potential for the total subsidy to be as much as $40,000 in certain circumstances.

‘The Build Your Future scheme is being run on a first in best dressed basis, so we encourage people to make an application as soon as possible,’ he said.

As part of this program, the Lismore council received $5 million from the Federal Government to build the Pineapple Road/Ballina Road roundabout, the Invercauld Road/Ballina Road intersection and the Molesworth Street/Orion Street roundabout, improving access to the city’s major land release areas.

In return for the infrastructure funding, the council is providing the 200 grants of $20,000 for affordable housing lots in new land release areas throughout the city.

The 200 Build Your Future lots will be made available at five locations throughout the city: North Lismore Plateau; Sanctuary Hill off Invercauld Road; Pineapple Road, Goonellabah; and Airforce Road, East Lismore.

For further information and application forms visit www.lismore.nsw.gov.au, phone 1300 87 83 87 or enquire with a local real estate agent.

Source: EchoNet

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