Council backs resolution supporting Parkview Terrace Phase 2 housing tax credit application

The Kirksville City Council voted to approve a resolution supporting TerraVest Development Corporations application to the Missouri Housing Development Commission for housing tax credits and financing for Parkview Terrace Phase 2. City Director of Community and Economic Development Ashley Yelm told the council the proposed Phase 2 would add 40 units—four market-rate and the remainder income-restricted family housing—adjacent to the Phase 1 site near East Mill Street and Rotary Park. Yelm said architect renderings and a preliminary site plan were included in the council packet. Yelm said the Missouri Housing Development Commission (MHDC) now awards additional application points when a local government demonstrates financial commitment or transportation improvements that will serve the project. She noted the city has three transportation projects in planning or design that could be counted toward TerraVests application: East Mill Street reconstruction, a Rotary Park trail that would serve the development, and a trail along a former BNSF right-of-way to the south. Representatives from TerraVest, Jay Burchfield and Matt Covington, attended the meeting; Yelm said the developer reported Phase 1 remains full and has a waiting list. Members of council and staff expressed support for the application. The resolution passed with council approval.