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Council approves incentive agreement for Prospect Perry Apartments, debates undoing older ordinance
Summary
The Perry City Council approved a written incentive agreement with Prospect Perry Apartments LLC to support phase-one development and authorized the mayor to sign a resolution; members debated whether to also rescind ordinance 1011 by ordinance or resolution and agreed to bring an ordinance back for formal repeal.
The Perry City Council on June 9 approved a written incentive agreement with Prospect Perry Apartments LLC and authorized the mayor to sign a resolution that will allow the developer to move forward with financing for phase one of a multi-phased rental project.
Council discussion focused less on the dollar mechanics of the incentive than on procedure: several members urged approving the executed agreement now so the developer can close loans, while others said the council should withdraw or rescind lingering prior ordinances on the matter by an ordinance (which requires additional public hearings) to avoid future legal ambiguity. Staff told the council the agreement is limited to phase one and contains audit rights requiring the developer to show how rebate amounts are reinvested; the document also clarifies a 10-year maximum rebate term for units covered by the agreement.
“They came here and built the units; we were the ones begging for affordable housing,” one council member said in favor of honoring the city’s earlier commitments and approving the signed agreement so construction financing would not be delayed. Opponents suggested cleaning up the municipal code definitively and asked staff to return with an ordinance repealing Ordinance 1011 to remove any uncertainty about older incentives.
After debate the council voted to authorize the mayor to execute the incentive agreement and to bring an ordinance back at a later meeting to rescind or clarify prior ordinance language. The resolution authorizing the mayor to sign the agreement passed on the council floor; the council recorded its intention to present an ordinance repealing Ordinance 1011 at the next scheduled meeting for finalization.
The agreement’s key procedural terms—the 10-year rebate window for covered units, the requirement that the developer pay taxes and document reinvestment before receiving rebates, and staff audit rights—were emphasized by city staff as protections to ensure the city receives verifiable public benefit before any rebates are paid.
Next steps: the mayor will be authorized to sign the agreement under the approved resolution; the council also directed staff to draft an ordinance to rescind Ordinance 1011 and return with that ordinance for the first reading in July.
