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Council adopts Elevate Housing policies, enabling residential TIFs and targeted infill incentives
Summary
The Waterloo City Council adopted the Elevate Housing Policies 2025, a package that creates a framework for residential tax‑increment financing and per‑unit incentives to spur infill and new home construction.
The Waterloo City Council on Tuesday adopted the Elevate Housing Policies 2025, a package intended to increase housing supply by encouraging infill redevelopment and new construction. The policy set a framework that includes residential tax‑increment financing (TIF) and per‑unit incentives for qualifying infill projects.
Under the adopted framework, new residential TIFs would typically allocate 50% of incremental property taxes to the developer for a 10‑year period, with the remaining revenue available to the city and for low‑ and moderate‑income housing set‑asides. The policy also formalized a $5,000 per‑unit incentive for eligible infill rehabilitation or new construction, increasing to $7,500 in…
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