Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Workforce Housing topic
No spam. Unsubscribe anytime.
Council backs Vision Builders' Floyd View project, approves workforce-housing tax-credit application and development-agreement amendment
Summary
Le Mars council approved Resolution 2624 supporting Vision Builders' Iowa Workforce Housing Tax Credit application for a 32-unit phase one of a proposed 95-unit Floyd View manufactured-home community, and adopted an amendment to the city–LBIC development agreement to lower the property sale price to a maximum of $460,000, subject to survey and tax-credit approval.
The Le Mars City Council voted to support Vision Builders Incorporated's application to the Iowa Economic Development Authority for workforce-housing tax credits and approved an amendment to the city's development agreement with LBIC to reduce the sale price for the project site.
Staff described the Floyd View proposal as a 95-unit manufactured-home community on land north of the Park View Terrace mobile home community, with a total capital investment for the full development estimated at $18,375,000. The Iowa Workforce Housing Tax Credit application requires a local match; LBIC proposed reducing the contract sale price from $780,200 to a maximum of $460,000 as the local match, a reduction the city recorded as a $320,200 price reduction. The workforce-housing application covers a 32-unit first phase required by the tax-credit program.
Ben Curtslven, representing Vision Builders, said the homes will be factory-built but set on foundations and intended to provide an ownership pathway rather than moveable trailers. "It's our goal to ... bring options for attainable housing," Curtslven said, emphasizing that units would be set on foundations and offer a variety of sizes and finishes comparable to site-built homes.
Council adopted Resolution 2624 to approve the tax-credit application; a roll-call vote in the record shows Sturgeon: yes; Wick: yes; Conurs: yes; H: yes. Council then approved an amendment to the development agreement between LBIC and the city (dated 12/18/2023) to reduce the sale price to a maximum of $460,000, subject to survey completion and approval of the Iowa Workforce Housing Tax Credit application. The amendment carried on a voice vote.
Officials also noted LBIC's request that the city subordinate its interest in the property so the developer can obtain bank financing for underground utilities and site improvements. Staff recommended final action remain contingent on completion of the required survey and on approval of the tax-credit application by the Iowa Economic Development Authority.
