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Council raises workforce-housing finance cap and approves nonbinding MOU for 150-unit project
Summary
The Show Low City Council adopted a revised workforce-housing incentive and approved a nonbinding MOU to study a proposed 150-unit workforce rental project at East Wolford and 8th Street.
The Show Low City Council moved to change its workforce-housing incentives and to enter a nonbinding planning agreement with a private advisory group to pursue a large workforce-rental project.
Staff asked the council to rescind Resolution R2024-08 and adopt Resolution R2025-01, which raises the maximum financed price for a new site-built home qualifying for the city’s workforce-housing incentives from the previously adopted $284,000 threshold to $325,000, with an annual consumer price index (CPI) adjustment. Staff told council the $325,000 figure came from a local builder’s proposed sales price of about $320,000 and that the additional $5,000 provides “a little bit more breathing room.” Councilman Adams moved to adopt R2025-01 rescinding R2024-08; Councilman Whipple seconded. The motion passed unanimously.
Separately, the council approved a nonbinding memorandum of understanding (MOU) with the White Mountain Advisory Group to begin 60 days of due diligence on a proposed 150-unit workforce rental project at East Wolford and 8th Street. Jim Hammett, representing the advisory group, described the proposal as "a $35,000,000 rental project consisting of 1, 2, and 3 bedrooms" that would use modular construction, be sited on about 14.8 acres zoned PUD and could include partnerships with local employers and a city advisory committee. Hammett said the proposal would seek employer commitments and impact investors and that the MOU would allow feasibility, market and financial underwriting work before the project returns to the council for approval. He described the MOU as nonbinding and staff noted either party may terminate with 30 days’ notice.
Council approved the MOU unanimously; councilmembers asked several procedural questions about timelines, factory location for modular units and cancelation terms. Council discussion did not authorize funding; the MOU is a framework to conduct feasibility work and identify potential commitments and funding sources.
