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Council raises workforce housing maximum financed price to $325,000 in amended incentive policy
Summary
Show Low adopted Resolution R‑2025‑01 rescinding R‑2024‑08 and amending the workforce housing incentive policy to raise the maximum financed price for new site-built homes to $325,000 (with annual CPI adjustments); all other qualifications remain unchanged.
The Show Low City Council unanimously adopted Resolution R‑2025‑01, rescinding Resolution R‑2024‑08 and amending the city’s workforce housing incentive policy to set a higher maximum financed price for qualifying new site-built homes.
City staff said the original resolution set a maximum financed price tied to Area Median Income (AMI) limits that staff and a local builder found impractical for site-built homes. Staff recommended rescinding R‑2024‑08 and replacing it with R‑2025‑01 to raise the maximum financed price for a new, for‑sale site-built home to $325,000 and to allow that threshold to increase annually based on the Consumer Price Index. Staff said all other policy qualifications and requirements remain unchanged.
When asked how the $325,000 figure was determined, staff said a local builder indicated a proposed sales price of $320,000 and staff added a modest buffer of $5,000 to provide breathing room for qualifying homes.
Councilman Adams moved to adopt Resolution R‑2025‑01 rescinding Resolution R‑2024‑08 and amending the incentive policy for workforce housing; Councilman Whipple seconded. The mayor called the vote and the motion passed unanimously.
Staff framed the change as a practical adjustment to enable the city’s incentives to be used for site-built, for-sale homes in the local market; no other changes to income/rent limits or other qualifying criteria were presented at the meeting.
