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Staff and developer explore RHID plus special-assessment model to finance attainable for-sale homes on 150th Street
Summary
City staff and a developer/landowner discussed using a Reinvestment Housing Investment District (RHID) layered with a special-assessment bond to finance upfront infrastructure so developers can build smaller, attainable for-sale homes (~50 lots) near 150th Street; committee members expressed support for further study and asked staff to continue.
The committee heard a policy and feasibility discussion about creating attainable for-sale housing on roughly four acres near 150th Street east of Metcalf. City staff and a private team (landowner and developer) described a concept that layers a Reinvestment Housing Investment District (RHID) with a special-assessment financing mechanism to pay upfront infrastructure costs that typically make small-lot, lower-priced homes infeasible.
Project concept and need Staff and the developer said regional and local market conditions have made new entry-level, for-sale housing scarce: recent new-home price data for the county show large increases (staff cited median new-home prices), and the Blue Valley School District average new-home price was…
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