Spencer City Council Approves Housing Tax Credit Application
(Spencer)-- The Spencer City Council Monday evening helped pave the way for a major housing project to proceed. The council approved the first reading of an amendment to the city's zoning ordinance pertaining to planned unit residential developments. They also adopted a resolution supporting the application of a Workforce Housing Tax Credit Benefit Application on behalf of the developer, IGL Construction, LLC. City Manager Amanda Mack explained to the council what the city's obligation is with that...
"As part of the Housing Tax Credit Program, the resolution of support requires a minimum of $1,000 per unit commitment, however we have a tax abatement program already on the books and that meets the $1,000 per unit qualification."
The site of the project is 221 32nd Avenue West, just south of Pivot Point.
The Spencer City Council also Monday evening set June 15th as the date for a public hearing on a proposal to sell nearly 10 acres of city-owned land along former railroad right-of-way on the north side of the city to the Iowa Department of Transportation for $225,000. The city will still retain a small portion of the land to construct an entrance sign to the city.