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Inwood council discusses Lot 1 sale tied to workforce tax credit and approves residential abatements
Summary
Council members discussed selling Lot 1 to Andrew Spaans, who is considering a Workforce Tax Credit due in June that requires a 10-year abatement; council suggested lowering the $40,000 lot price and extending the abatement term, and the council approved residential property tax abatements for five individuals (carried 4-0, one abstention).
The council discussed terms for a potential sale of Lot 1 in the North End Subdivision to Andrew Spaans and how that sale could interact with a Workforce Tax Credit application that Spaans is considering.
Council members said the Workforce Tax Credit application is due in June and that the grant is competitive and requires matching funds from the city. The council recorded a minimum grant-match requirement of $1,000 per unit; Spaans is expected to apply for four units. Councilmember Chad Evans suggested reducing the lot price (currently set at $40,000) to improve the economic viability of the project. Councilmember Rick Rozeboom proposed lowering the price by $10,000 and extending the city's Residential Property Tax Abatement term to 10 years to meet grant requirements; council identified amending the abatement plan as the next step.
Separately, the council approved residential property tax abatements for Mike Kooima, Rick Rozeboom, Brad Standley, Todd Reinke and Logan Bruggeman. The abatements apply to new housing or improvements of $10,000 or more. The motion to approve individual abatements was moved by Chad Evans and seconded by Mark Timmerman; the vote carried 4-0 with Rick Rozeboom recorded as abstaining.
Council also introduced Resolution #2-25 proposing disposal of real estate to Jace Vande Kamp and Jacob Maassen and set a public hearing on that resolution for Feb. 10, 2025 at 6:30 p.m.
