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Commissioner outlines $5 million Kaniksu Village renovation and 22-unit plan
Summary
Commissioner Rosencrants told the council that Rural Resources secured a Washington State Housing Trust Fund grant to renovate Kaniksu Village; feasibility studies cost the county over $50,000 and the project is expected to result in a 22-unit apartment complex with roughly $5 million invested.
Commissioner Rosencrants, who serves on the Rural Resources Board and chairs the finance committee, updated the council on Kaniksu Village renovations funded in part by a Washington State Housing Trust Fund grant.
Rosencrants said county commissioners previously approved more than $50,000 for feasibility studies and described an anticipated investment of nearly $5,000,000 in the property to create a 22-unit apartment complex. He told the council he will be responsible for financial oversight for the local project and said Commissioner Smiley will serve as the local point of contact. Rosencrants said the project gives Metaline Falls "the opportunity to benefit from this growth" and expressed confidence in future funding, saying, "money will follow money."
He also outlined next steps for a Pend Oreille County Transportation Benefit District (TBD), noting the TBD will need interlocal revenue-sharing agreements and may draw on sales tax, property tax increases or license tag revenues as potential sources.
