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Council approves Landmark RHID plan to support downtown upper‑story housing
Summary
The Hutchinson City Council voted Oct. 7 to adopt a Reinvestment Housing Incentive District (RHID) development plan and approve a development agreement to support redevelopment of Landmark Apartments at 1 N. Main.
The Hutchinson City Council voted Oct. 7 to adopt a Reinvestment Housing Incentive District (RHID) development plan and approve a development agreement to support redevelopment of Landmark Apartments at 1 N. Main.
The RHID program, described by Dave Sotelo, the city’s director of strategic growth, helps “turn unused space above downtown businesses into housing,” allowing the tax increment from a property’s increased value to be set aside for up to 25 years to reimburse developer construction costs. Sotelo told the council…
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