Ames Regional Economic Alliance updates Story County supervisors on rural housing projects and LMI set-aside effort

Brenda, representing the Ames Regional Economic Alliance, told the Story County Board of Supervisors on Tuesday that the Alliance's outreach is focused on several small-community housing and subdivision initiatives across the county.

Brenda highlighted continued commercial development in Gilbert and several rural subdivision efforts under discussion in Maxwell, Roland and Colo. Maxwell was singled out as the first community where the Alliance is pursuing a state-level challenge to Story County's high low- and moderate-income (LMI) set-aside percentage; if successful, the change would free additional funds for infrastructure within those projects.

"If we're able to get that accomplished, that allows us actually to divert more money to the infrastructure part of the project," Brenda said, describing the Maxwell application and the plan to pursue similar adjustments for Colo and Roland if the state approves the change.

Project highlights Brenda said Maxwell received funding through the state's workforce housing tax credits for a six-unit project; other items she listed included rental rehab at an assisted-living facility in Huxley plus new construction and a 90-unit Oak Park Estates project in Nevada on an old campus. She also noted an uncommon workforce housing infill project in Ames expected to add about 12 units.

Brenda described the financing and cost challenges in small subdivisions: "It's a lot of money. It's a stranded investment unless we get houses on there," she said, noting the difficulty of spreading infrastructure costs across a small number of lots.

Board response and follow-up Supervisors asked for timelines for Maxwell's groundbreaking; Brenda said expected activity was delayed by road-location discussions and that the project's viability depends in part on the state's decision on the LMI set-aside adjustment. She said the Alliance had provided census data to support the state application and expected possible ground activity in spring.

Ending Brenda closed by encouraging supervisors to contact the Alliance with questions and said she would provide updates if the Maxwell application succeeds and as other projects progress over the coming year.