Council continues debate on six deed‑restricted workforce units at 41 West Main Street

The Midway City Council on Aug. 18 continued discussion of a legislative development agreement that would convert an unfinished basement at 41 West Main Street into six deed‑restricted workforce housing units (five studios and one one‑bedroom), each under 900 square feet. The proposal would initially tie rents to about 55% of area median income (AMI), with utilities included, allow annual rent increases up to 3%, and would permit rents to rise to roughly 80% AMI over the 20‑year restriction term unless the council changes the schedule.

Council Member Kevin Payne argued the units should remain tied to 55% AMI for the entire restriction period so the affordability benefit does not erode over time. The applicant, Cooper Jenkins, said the project would require approximately $200,000 in investment and that his projected internal rate of return would be only about 2–3% if rents stayed at the lower level, an argument he said motivated the proposed stepped AMI schedule. Council members debated extending the deed restriction to 30 years, adding units to improve affordability, and whether the city should adopt a standard affordable‑housing policy rather than negotiating individual deals. The council voted to have Council Members Orme and Payne meet with the applicant and Community Development Director Michael Henke to try to craft a workable structure before the Planning Commission public hearing.