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Park City approves contingent permit-waiver and low‑interest loan to support Mennonite Housing senior apartments in Park Center
Summary
Park City council voted 6-0 to cap a building‑permit fee waiver at $80,000 and approve a contingent low‑interest loan of $500,001 at 1% over 20 years to strengthen a Low Income Housing Tax Credit application for a 50‑unit senior project called Lancaster Square in Park Center.
Park City Council voted 6-0 Tuesday to approve two measures to support a proposed 50‑unit senior apartment complex, Lancaster Square, in the Park Center development: a waiver of building permit fees capped at $80,000 and a contingent low‑interest loan of $500,001 at 1% amortized over 20 years.
The actions are contingent on the project winning an award under the Low Income Housing Tax Credit (LIHTC) process administered by the Kansas Housing Resources Corporation (KHRC). City staff and Mennonite Housing officials told the council the state and federal tax credits are central to the project’s viability and noted uncertainty because the Kansas Legislature is considering changes to the state program.
Sean (city staff) introduced the request and described the package Mennonite Housing sought: a building‑permit fee waiver estimated at roughly $80,000, a city loan that meets KHRC’s…
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