Spencer, IA (northwestiowanow) — A new housing incentive program in Spencer is offering seven building lots to developers for just one dollar.

Recently announced by the Spencer Economic Development Corporation, the Build Spencer Single-Family Housing Incentive Program comes after the organization acquired former fairgrounds lots from the Clay County Fair Association earlier this year.

Iowa Lakes Corridor President and CEO Curt Strouth says the effort is aimed at creating new housing opportunities in Spencer.

Strouth says the program also offers financial incentives for both developers and future homeowners.

Since the program’s announcement, Strouth says several developers have already expressed interest in the project.

Developers have until 4:30 p.m. on December 31, 2026, to submit proposals. Applications will be reviewed by the Spencer Economic Development Committee, which will select the proposal that best meets the program’s development goals.

For more information, visit spenceredc.com.