HomeMy WebLinkAbout2024-05-06 H02C Resolution of Support_Habitat for Humanity Workforce Housing ApplicationAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: May 6, 2024
AGENDA ITEM:Resolution Supporting the Submission of an Iowa Economic Development
Authority (IEDA) Application to the Workforce Housing Tax Credit Program
by Habitat for Humanity of Greater Des Moines, Inc
FORMAT:Resolution
SYNOPSIS INCLUDING PRO & CON: On May 6, 2024, the City of Waukee is scheduled to
consider an option to purchase and development agreement with Habitat for Humanity of Greater Des
Moines to build affordable housing on city-owned land near North Warrior Ln and Douglas Parkway.
As part of those agreements, Habitat has committed to private fundraising and pursuing other funding
opportunities. They are requesting that the City endorse their Iowa Workforce Housing Tax Credit
application.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: The total funding gap is
estimated to be $1.2 million. The City has committed to contributing $500,000
in tax increment incentives and Habitat plans to apply for approximately
$720,000 in Workforce Housing Tax Credits.
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Staff recommends approval
ATTACHMENTS: I. Proposed Resolution
PREPARED BY: Nick Osborne
REVIEWED BY: Nick Osborne
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
H2C
THE CITY OF WAUKEE, IOWA
RESOLUTION 2024-
RESOLUTION SUPPORTING THE SUBMISSION OF AN IOWA ECONOMIC
DEVELOPMENT AUTHORITY (IEDA) APPLICATION TO THE
WORKFORCE HOUSING TAX CREDIT PROGRAM BY HABITAT FOR
HUMANITY OF GREATER DES MOINES, INC
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Iowa is a duly organized municipality within Dallas
County; AND,
WHEREAS, Habitat for Humanity of Greater Des Moines proposes to construct forty-
eight multi- family residential units and invest approximately $12 million; AND,
WHEREAS, Habitat for Humanity of Greater Des Moines has committed a significant
amount of private financing to the project; AND,
WHEREAS, the City of Waukee created the "North Waukee Residential Urban Renewal
Plan" on November 16, 2020, pursuant to Resolution No. 2020-429, and subsequent
amendments to the same in 2023 and 2024, which will provide assistance to the project in
the form of tax increment rebates.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in
session this 6th day of May, 2024 that the City of Waukee’s endorsement of the Habitat
for Humanity of Greater Des Moines workforce housing tax credit application is hereby
approved.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
Anna Bergman Pierce
R. Charles Bottenberg
Chris Crone
Rob Grove
Ben Sinclair