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Commission finds housing need, approves resolution to pursue RHID for Northeast Village townhomes
Summary
The Ottawa City Commission voted to approve a resolution declaring a housing need and to begin the process to designate a Reinvestment Housing Incentive District (RHID) for the proposed Northeast Village townhome project at 1426 East Wilson Street.
The Ottawa City Commission voted to adopt a resolution April 23 that finds the city has a shortage of quality housing and moves the next step toward creating a Reinvestment Housing Incentive District, or RHID, for the Northeast Village project at 1426 East Wilson Street.
Director Landis told commissioners the proposed development is a 40-unit single-family townhome project with a two-bedroom, two-bath product and a proposed market rent of about $1,250 per month. She said the developer lists $1,957,000 in eligible expenses and is seeking roughly $1,675,000 in reimbursements over a 15-year term if the district and incentives are approved. "The project is eligible for RHID incentives by definition under Senate Bill 17," Landis said during the presentation.
The resolution before the commission does not commit the city to any specific dollar amount or term. It records four required findings under…
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