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Pratt PAEDC hears housing developer interest as state caps housing tax credits
Summary
PAEDC members heard from a developer interested in housing on a former Air Force base site; changes to the state housing tax credit program may affect feasibility.
Heather, a county staff member, updated commissioners that the Pratt Area Economic Development Corporation (PAEDC) recently met with a developer interested in building additional housing on a site that retains infrastructure remnants from Pratt's World War II air base. The developer was asked to plat the site and return with estimates for needed infrastructure upgrades, Heather said.
Heather told the commission that the Kansas Legislature substantially revised the state's housing tax credit program, "capping it at $25,000,000 in 2025 and about $8.8 million in out years," and that change will affect developers who were relying on state tax credits in combination with federal housing incentives through the Kansas Housing Resources Corporation.
PAEDC members discussed focusing on ways to increase housing units in Pratt County over the next year. Heather said the developer will need to evaluate how the new state cap changes project economics and that the county's next steps depend on the developer's platting and cost estimates.
No formal action or appropriation related to the proposed housing project or tax-credit changes was taken at the meeting. Commissioners directed staff to continue coordinating with PAEDC and the developer and to report back when more detailed infrastructure and cost estimates are available.
