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Commission creates RHID for 124 South Main to support 13 moderate‑income apartments
Summary
The commission established a reinvestment housing incentive district for a planned rehabilitation of the historic 124 South Main building. Developer Frontier Development Group has secured state approvals and tax‑credit allocations and aims to convert the structure into 13 moderate‑income rental units.
The El Dorado City Commission on Sept. 15 approved an ordinance establishing a Reinvestment Housing Incentive District (RHID) and approved a project plan for 124 South Main to support a redevelopment of the historic downtown building into 13 moderate‑income rental units.
City bond counsel and project counsel explained the statutory process and timeline for RHID creation, including public notice requirements and a 30‑day period during…
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