Support Submission of an Iowa Economic Development Authority (IEDA) Application to the…

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Recorded in the minutes as: “i. Resolution #060926-07 – Support Submission of an Iowa Economic Development Authority (IEDA) Application to the Workforce Housing Tax Credit Program for Trail’s Edge Apartments Murray/ Motion: to approve Resolution #060926-07 – Support Submission of an Iowa Economic Development Authority (IEDA) Application to the Workforce Housing Tax Credit Program for Trail’s Edge Apartments. Assistant City Manager Madeline Sturms explained that the City Council has an adopted strategic plan that prioritizes long-term investments and has also completed a housing market analysis and strategy report. Access to housing for all portions of the market is critical to economic development within the community and the housing study notes the City’s extremely low availability of rental units as a barrier for new people to move into the community. The City is working with a developer who has requested City support in applying for targeted state funding for the project through the Iowa Economic Development Authority’s Workforce Housing Tax Credit Program. The City has been identified as having a demonstrated workforce housing need which is consistent with the findings in the City’s own Housing Market Analysis and Strategy making the project eligible for funding”.

Motion as recorded: “to approve Resolution #060926-07 – Support Submission of an Iowa Economic Development Authority (IEDA) Application to the Workforce Housing Tax Credit Program for Trail’s Edge Apartments. Assistant City Manager Madeline Sturms explained that the City Council has an adopted strategic plan that prioritizes long-term investments and has also completed a housing market analysis and strategy report. Access to housing for all portions of the market is critical to economic development within the community and the housing study notes the City’s extremely low availability of rental units as a barrier for new people to move into the community. The City is working with a developer who has requested City support in applying for targeted state funding for the project through the Iowa Economic Development Authority’s Workforce Housing Tax Credit Program. The City has been identified as having a demonstrated workforce housing need which is consistent with the findings in the City’s own Housing Market Analysis and Strategy making the project eligible for funding”.

From the vote line in the official minutes, which names each member’s vote. Members not named in the vote line are shown as Not in the record unless the minutes list them absent. Vote line as printed: “ROLL CALL: AYES: Murray, Birch, Hodges, DeMoss, Konrad. NAYS: None. Motion carried 5-0.”.