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Douglas County agrees to join 15‑year, 95% tax rebate for Nindale Lofts 2 affordable housing in Lawrence
Summary
The Douglas County Board of Commissioners voted 5–0 July 16 to participate in a 15‑year Neighborhood Revitalization Area (NRA) that would rebate 95% of the incremental property tax increase generated by the Nindale Lofts 2 affordable housing project at 716 E. Ninth St., Lawrence.
The Douglas County Board of Commissioners voted 5–0 July 16 to participate in a 15‑year Neighborhood Revitalization Area (NRA) that would rebate 95% of the incremental property tax increase generated by the Nindale Lofts 2 project at 716 East Ninth Street in Lawrence.
Brandon McGuire, assistant city manager for the City of Lawrence, said the project developer (Tony Kresnick) is applying for a 9% federal Low Income Housing Tax Credit (LIHTC) award with state matching credits from the Kansas Housing Resources Corporation. McGuire said the proposal includes 24 affordable one‑bedroom units targeted at 30%, 40% and 60% of area median income, 12 market‑rate units and six live‑work ground‑floor units. He told the board the city supports the project as part of its affordable housing goals.
Tom Calico of Baker Tilly Municipal Advisors…
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