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EDC reports tax-credit income, donates to Baker University and lays out plan for new childcare facility
Summary
Dave Hill of the Lawrence–Douglas County Economic Development (EDC) told the Baldwin City Council the EDC has generated roughly $160,000 a year from tax-credit sales, donated $100,000 to Baker University, and is planning a new childcare facility with Rainbow Preschool using about $700,000 in savings plus fundraising.
Dave Hill, representing the Lawrence–Douglas County Economic Development organization, gave the council the EDC’s annual update, saying the group has been "selling tax credits" and "we've been making about a 160,000 a year selling tax credits." He said the EDC has accumulated roughly $700,000 in checking and savings that is being earmarked to support community priorities.
Hill told the council the EDC made a $100,000 donation to Baker University and said the university is pursuing growth in enrollment that could benefit Baldwin City. "Baker's success is our community's success," he said, and he described the incoming university president as a strong opportunity for partnership.
On childcare, Hill said the EDC and local partners have struggled with a gap for newborn-to-2½-year-old care and are negotiating an arrangement with Rainbow Preschool, which he said has agreed in principle to expand services. "We're gonna make a real effort to put up a new facility," Hill said, adding the EDC hopes the new building would be owned by the EDC and rented to Rainbow for a nominal fee so operating costs remain low.
Hill also outlined housing efforts: three new subdivisions account for about 120 buildable lots across multiple price points (mid-$50,000s, mid-$60,000s and $140,000/one-acre lots), and the EDC has a $50,000 fund to provide $5,000 grants to certain first-time homebuyers who work in the local school district, at Baker, with the city or in the recreation department; two such grants have already been awarded to Baker employees.
Hill said the EDC will continue to sell tax credits to fund the childcare project and that the organization is looking for a location and may request tax abatement assistance from the city. He said he expects the childcare facility would cost "about a 1.2 to 1,500,000 dollar" to build and that preserving low operating costs is a priority so the program can pay living wages to staff.
Next steps: Hill said the EDC will pursue a location and finalize financial arrangements, and he will work with city staff on potential tax-abatement requests and other supports.
