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Council waives $20,001 in initial permit fees to boost competitive housing tax‑credit application
Summary
Council approved a conditional waiver of the first $20,001 in building permit fees for a proposed 20‑unit income‑restricted housing project led by Benjamin; staff said the waiver is a typical local financial contribution used in scoring competitive housing tax‑credit applications.
The City of Aberdeen council approved a request to waive the first $20,001 in building permit fees to support a proposed 20‑unit income‑restricted housing project being developed by Benjamin.
Eric from Community Development explained that the waiver is a form of local financial contribution commonly considered in scoring competitive federal and state low‑income housing tax‑credit applications. "Typical fees on a project like this would be about $40,000. So he's requesting that we waive the initial... $20,001 in building permits and associated fees," Eric said. Staff recommended approval contingent on the project's success in obtaining tax credits; the council voted to waive the initial fees.
Developer Benjamin told the council he would retain ownership and use a third‑party management company; he also noted comparable projects in Vermillion and Brookings. Council members expressed support for more affordable housing in Aberdeen and approved the waiver by roll call.
