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Arnolds Park Council Opts Not To Provide Matching Funds For Housing Project

June 09, 2022 Steve Schwaller

(Arnolds Park)– The Arnolds Park City Council Wednesday evening was updated on a proposed residential development in the area of Lower Gar Lake. A financial representative that’s involved with the developer of the project told the council it would consist of “workforce housing”. He added the developer is planning to apply for credits through the Iowa Workforce Housing Tax Credit program…

“To get that state incentive there has to be some type of local match and letter of support. That local match could be the city, county, it could be a development corp., something like that. But we do need a thousand per unit, and they were talking about doing 10 twin homes, so 20 units. So you’re talking about $20,000 to leverage to get, you know, let’s say $660,000 from the state.”

Councilman Mitch Watters said he was concerned over the possibility of precedent being sent should the city go ahead with providing matching funds…

“I guess I don’t thing we’ve ever done anything like this before, so I kind of hate to open up a can of worms. I’m not opposed in a letter of support.”

Other council members agreed with that position.

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