Developers propose downtown townhomes; board hears plan tied to parking‑lot grant

County development staff told commissioners they received a single response to an RFQ for downtown residential development: a partnership between National Development of America, Barkdoll Land Development and local Rhino Construction proposing 8 townhomes (3 bedrooms, 2 baths) ranging from about 1,200 to 2,000 square feet with market pricing discussed.

Staff explained the IDA-enabling contract options: (1) IDA owns property and sells it to a developer then reimburses purchase price upon deliverables, (2) developer owns property and enters a development agreement with reimbursements at completion if deliverables are met, or (3) developer owns property and the IDA extends infrastructure to the property. Staff recommended authorizing staff to draft a contract and return it for board approval.

Commissioners asked how reimbursements would be structured and whether long-term resale restrictions or minimum-ownership periods would be included. One commissioner said, "sometimes I wonder why we didn't have some sort of ... that they would not be able to be sold for a longer period of time to be able to recoup," expressing concern that public incentives could lead to quick resale at higher prices. Staff replied that recent practice has been to rely on appraised value or the IDA investment amount—whichever is greater—to protect public investment and that contract deliverables (wastewater connections, sidewalks, unit completions) will determine reimbursement timing.