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Pittsburg commission approves amendment to Villas at Creekside housing incentive to reflect higher construction costs
Summary
The commission amended the Villas at Creekside Residential Housing Incentive District (RHID) Exhibit C to raise eligible reimbursement amounts — up to $4.8 million paid over the existing 25-year period — citing higher actual infrastructure costs. The project delivered 29 villas (58 units), 53 of which are leased.
The Pitt sburg City Commission on Wednesday approved an amendment to the Villas at Creekside Residential Housing Incentive District (RHID) Exhibit C to increase the eligible reimbursement amounts for infrastructure costs, city staff said.
City staff told commissioners the amendment adjusts the dollar amounts in Exhibit C to reflect actual costs the developer incurred during construction and does not extend the 25-year term of the RHID. "We're just asking this evening to be able to amend that eligible cost list and we are not changing the time frame in which we would be reimbursing those costs," a…
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