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Pratt Area Economic Development outlines housing-incentive program, reports $328,000 cash on hand
Summary
Pratt Area Economic Development reported four active incentive contracts with $114,000 in liabilities, $328,000 in cash on hand, and plans to launch a housing incentive program by early next year offering cashback to builders of multiunit homes.
Chase Gauley, president of the Pratt Area Economic Development Corporation, briefed the commission on the agency’s current portfolio and planned programs. He said the EDC has four active incentive contracts with about $114,000 in outstanding liabilities and roughly $328,000 in cash available. "Our total liabilities on all that is about 114,000," Gauley said, adding that one project already met projected sales-tax targets and will receive full reimbursement.
Gauley described a new housing incentive program aimed at builders who construct a minimum of two-unit homes; the plan would offer a cashback reimbursement structure with caps per unit and per developer and is expected to be ready for outreach by November or in early 2026. He also described a 'pitch book' marketing package to make Pratt’s data and assets easier to present to prospective industry leads. Commissioners thanked Gauley and raised no objections to staff continuing to develop the programs.
