Story County approves TIF support for LMI housing; school district warns of $33,000 annual impact
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Summary
The Story County Board of Supervisors approved amendments to its urban renewal plan and a development agreement to provide up to $1.95 million in TIF support to the Story County Housing Trust for low‑to‑moderate income housing; Nevada Community Schools warned the board the district could lose about $33,000 a year under the plan.
The Story County Board of Supervisors on Nov. 18 approved an amendment to the county’s urban renewal plan and a development agreement to allow tax increment financing payments to the Story County Housing Trust to support low‑to‑moderate income (LMI) housing.
Planning staff told the board the county’s total commitment of incremental property tax revenues for the LMI program would not exceed $1,950,000 and that the aggregate payments in any single fiscal year would not exceed $975,000. Staff emphasized that all payments would be subject to annual appropriation by the board and that program guidelines — including eligibility, application procedures and administrative fees — will be developed after today’s actions.
Marty Chitty, identified as president of the Nevada Community Schools board, urged the supervisors to consider the school district’s budget position and said the district faces enrollment losses and a projected reduction in state aid. "The cost in the Nevada school districts as I have been made to understand it will be $33,000 a year," Chitty said, asking whether the board could "be made whole on this one and still fund" the housing trust.
County staff acknowledged the written comment from the Nevada school board had been included in the meeting packet and said the consultations required by law were completed; they noted that the development agreement and any subsequent program rules will need to be consistent with state code and the county’s urban renewal plan. A supervisor disclosed on the record that they serve on the Story County Housing Trust.
The board voted to adopt resolution 26‑38 (urban renewal area amendment) and resolution 26‑35 (to approve the development agreement) after the public hearings and discussion. Staff reiterated that finer program details — including any administrative fees the housing trust would charge — will be returned to the board for approval after the guidelines are drafted.
What happens next: staff will draft the program guidelines, eligibility criteria and administrative fee proposals for the LMI housing support program and bring them back to the board for modification of the agreement and final implementation steps. The board did not specify how, or whether, the school district concern over the $33,000 estimate will be mitigated in this action.
