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Commission approves $600,000 KHRC application; staff and developers discuss RHID/IRB incentives
Summary
Coffey County commissioners authorized the chairman to sign a Kansas Housing Resource Corporation moderate-income housing application for $600,000 and heard developers discuss RHID/IRB tools and possible county participation in incentives.
The Coffey County Commission voted to authorize the chairman to sign the Kansas Housing Resource Corporation application for the moderate-income housing program seeking $600,000.
"I make a motion to authorize and direct the chairman to sign the Kansas Housing Resource Corporation application for the moderate income housing program in the amount of $600,000," a commissioner said; the motion was seconded by Commissioner Barker and carried.
Economic development staff and a project representative also briefed commissioners on proposed incentive tools for a development near the airport. Project representative Patrick Wood reviewed the countys role in Rural Housing Incentive District (RHID) and industrial revenue bond (IRB) processes and said his team is prepared to contract with Gilmore & Bell to complete due diligence and begin outreach to school districts and municipalities as part of the incentives package. He said Gilmore & Bell will model tax-increment capture and timing and that particulars, including the period for tax capture and the slate of county participation, would be negotiated with counsel and the developer.
Wood presented sample letters and prior local examples used in other Kansas projects and said county support is important for state grant applications; commissioners discussed whether a formal resolution or more detailed commitment would be needed for the county's application narratives. Wood said the RHID/IRB work will continue whether or not the KHRC grant is awarded, but noted the KHRC funding would speed infrastructure and reduce upfront costs.
Commissioners did not adopt a binding commitment on the length of tax capture or the exact dollar value of county participation; staff said legal counsel and Gilmore & Bell would prepare specific terms if the commission agrees to proceed.
Ending: Commissioners approved the KHRC application and directed staff to continue coordination with the developer and Gilmore & Bell; the commission asked staff for a draft resolution and more detailed cost examples before any final county commitment.
