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City of Colo outlines 93‑lot housing plan; RFPs to be issued next week, TIF discussed
Summary
Representatives from the City of Colo presented a preliminary plat for a 93‑lot subdivision including townhomes, two lot sizes and phased development; the city plans to issue RFPs next week and intends to use tax increment financing for most of the project.
City of Colo representatives told the Story County Board of Supervisors on Feb. 25 they are preparing to issue requests for proposals and are advancing a preliminary plat for a 93‑lot housing development that includes townhomes and single‑family lots.
Why it matters: The project would add housing supply within Colo city limits, with potential local tax‑base and school‑district impacts; the city described an intent to use tax increment financing (TIF) for most of the development.
City presenter Amy said RFPs had been delayed but will go out next week and that the city is planning a phased build. She described the concept as two sections of eight townhome units plus additional smaller and larger lots; the total project includes 93 lots (the presenter said this count includes the townhomes). Amy said the city is targeting a price range stated in the meeting as “15 to 30,000” (units not specified in the packet or transcript) and that the city plans to use TIF for a majority of the project, per a person identified as Greg in the discussion materials. The presenter said water and sewer capacity are available at the site; no additional lift station is expected.
Board members asked clarifying questions about timing and product mix. The presenter said interest is strong in town and that the project could free up existing housing stock if people move into new units; the presenter also noted the project is important to the local school district.
The discussion was informational; no county action or vote specific to the Colo project was recorded. The presentation and Q&A were part of agency reports to the board and board members encouraged the city to proceed with RFP issuance and phasing plans.
What’s next: City staff will issue RFPs as discussed and proceed with phased plats and TIF planning. County staff did not record any formal direction that would change county approvals or regulatory steps in the meeting materials.
