(Milford)– The Milford City Council Monday evening adopted a resolution supporting an application by the Spirit Of Okoboji for a workforce housing tax credit application through the state of Iowa. Drew Hage of the Spirit of Okoboji told the council they would like to build a market rate apartment complex on land near GrapeTree Medical Staffing on the north edge of Milford. He says the first phase would consist of 30 units…
“Some nice things about this property, you’re walkable to childcare, you’re walkable to the Y, walkable to a couple of different businesses for work, a couple of different restaurants, so we feel it’s a strong location for a market rate apartment. We have two pools, and a clubhouse. We’re proposing for an HOA that goes on with that property so the clubhouse would be half workout room and half community room and you would be able to see phase two and a potential phase three out here as well. We’ve been kind of targeting 72 units for multi-family starting with 30.”
Hage added a commitment from the city needs to be included in the state application…
“We’re requesting that after this is awarded we would have discussion regarding a 10-year tax abatement. The value of that outlined in this, we put this to high level value and this is an estimate, we don’t know where it’s going to come in as the assessed value yet, but $250,000. So that would meet the state’s requirements there.”
Hage says they expect to hear in August as to whether or not the project will be getting assistance through the state program.
