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Developer explains RHID tool as board begins study of housing incentives
Summary
A representative for Heartland Housing Partners explained how a reinvestment housing incentive district (RHID) works and how it has been used in nearby Kansas cities; Leavenworth board members asked for more research and directed staff to prepare draft policy options for future consideration.
Ross Vogel, a consultant with Heartland Housing Partners, spoke to the Leavenworth Unified School District Board of Education on June 9 about reinvestment housing incentive districts, a state-authorized tool that captures future property-tax revenue from a redeveloped site to reimburse infrastructure and related costs.
Vogel told the board that RHIDs have been available since 1998 and have seen increased use in the last seven to eight years. He described the core mechanism this way: a property’s real-estate tax base grows after development; the jurisdiction continues to receive the pre-development tax amount while the additional tax revenue can be used to reimburse the developer for infrastructure and eligible costs. “The additional $900 would be reimbursed to that developer to help offset those…
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