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Council backs multiple workforce housing tax‑credit applications for new units across the city

3759799 · June 2, 2025

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Summary

The council adopted resolutions supporting four applications to the Iowa Workforce Housing Tax Credit Program for projects totaling new single‑family and multi‑unit housing at several sites, including a tenplex development, upper‑story apartments and single‑family infill on former school sites; staff discussed incentives and next steps.

The Waterloo City Council voted to support multiple applications to the Iowa Workforce Housing Tax Credit Program from local developers seeking tax credits to build new housing across the city.

Resolutions approved include: a BCS Properties LLC application to build four tenplex buildings (40 units) north of 180 Provision Parkway; a Martin Flats LLC application for two upper‑story apartments at 319 East Fourth Street; and two Big Hand Pepper LLC applications to build single‑family dwellings on the former Castle Hill school site (1720 Maynard Avenue) and at the Waterloo Community School Conference Center site (1554 Oakwood Drive). Each resolution authorized the mayor to sign the community input form required for the tax credit application.

Councilors and staff discussed the city's role in incentives and whether developers already control sites. Noel Anderson said incentives for some applicants could include TIF or other local support; for one site staff said any TIF on the larger Ridgeway area could be used as part of a match. Developer representative (Mr. Fritrow) said an offer on a school property is "accepted subject to the board voting the approval" and that asbestos and demolition issues are under discussion. Staff noted asbestos abatement and demolition costs could be significant for school redevelopment.

A resident asked for disclosure of the ownership of LLC applicants; council members responded that staff can provide ownership details. Council approved the resolutions supporting the tax‑credit applications and asked staff to follow up on details including incentive packages, property control and demolition/abatement responsibilities.