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Augusta officials briefed on RHID plan, bond counsel warns early years pose most risk
Summary
City staff and bond counsel outlined a plan to use a reinvestment housing incentive district (RHID) and special assessments to support a proposed 22-unit development at David and Ohio Street; next steps include feasibility work, a developer agreement and a public hearing, with letters of credit and temporary notes highlighted as early safeguards.
Kevin Cowan, the city’s bond counsel, told the council that a proposed reinvestment housing incentive district (RHID) for a 22‑unit project at David and Ohio Street would operate “at their core [as] tax increment finance,” capturing new incremental property taxes to help pay infrastructure costs.
“This is purely an informational educational session,” a city staff member said at the start of the briefing, framing the meeting as preparatory rather than a request for immediate action. Cowan explained that the RHID mechanism can capture 100% of the incremental property taxes generated by a project for up to 25 years and that certain statewide levies — including the school levy referenced in the presentation — are protected and not part of the increment.
Cowan described permitted uses under the statute as largely infrastructure‑focused — site preparation, sanitary and storm sewers, street grading and water mains — but noted more recent statutory updates allow rehabilitation of…
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