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Council backs workforce housing tax-credit application for Seymour Properties project
Summary
Council approved a resolution supporting a Workforce Housing Tax Credit application to the Iowa Economic Development Authority for a small apartment project by Seymour Properties LLC, which would include façade and roof repairs and no city match beyond existing grant support.
The Boone City Council approved Resolution 3540 in support of a Workforce Housing Tax Credit application to the Iowa Economic Development Authority for a proposed housing project by Seymour Properties LLC north of Modern Dress.
Andrea described the project as a small apartment conversion with façade work and roof repairs; the city’s involvement will not require additional municipal matching dollars beyond previously allocated funds in the BA. Dan Cohane of the Ames Regional Economic Alliance commented on income thresholds and noted that eligible households would include a range of workers who might qualify under the program.
Councilors moved, seconded and approved forwarding the resolution and supporting the application. Andrea said she expects the developer to submit a DIP application within the next month.
The council did not commit any new city funds for the application and noted this is a routine step to make the project competitive for state tax-credit support.
