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Council backs Heritage Hill Phase 3 tax-credit application, sets hearing to dispose parcel near subdivision
Summary
West Branch approved support for BBCO, LLC’s Workforce Housing Tax Credit application for Heritage Hill Phase 3 and set a May 6 hearing to consider disposing Auditor’s Parcel 'O' adjacent to Heritage Hill; the city noted that tax credits can reduce the city’s TIF obligation under the development agreement.
The City Council voted to support BBCO, LLC’s application to the Workforce Housing Tax Credit Program for Phase 3 of the Heritage Hill subdivision and pledged city funds as part of the application process (Resolution 2024-36).
City Attorney Kevin Olson explained that under the development agreement with BBCO, the greater the tax-credit award the developer receives, the less the city must pay in TIF dollars. Olson also presented Resolution 2024-35 setting May 6, 2024 for a public hearing on disposing Auditor’s Parcel 'O' (a detention-basin parcel west of Lot 1, Heritage Hills) after the developer indicated willingness to own the parcel if maintenance obligations accompanied it. The Council approved both resolutions.
Councilmembers said the resolutions support completion of Heritage Hill while preserving the city’s interest in development obligations and TIF responsibilities.
