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Developer preparing workforce-housing application that will seek state tax credits
Summary
Staff said a company (Commonwealth) is preparing a multifamily workforce-housing project submission for state tax credits; application materials are expected in June and will be reviewed by the city’s boards and commissions, with project viability hinging on receiving credits.
City staff told the EDA a developer is preparing an application for state tax credits for a multifamily workforce-housing project, and that the application materials will arrive in June for municipal review.
Staff said the project team (Commonwealth) is working on materials now and that municipal board and commission review will follow; staff noted the project will depend on receiving state tax credits to move forward.
The EDA asked staff to share community groups that might meet with the developer and to support early public outreach. No formal application had been filed at the time of the meeting.
