Mason City council asked to give approval for housing tax credit projects, including for Kirk Apartments site
MASON CITY — The Mason City City Council tonight is being asked to give their approval for four applications to the Iowa Economic Development Authority for Workforce Housing Tax Credits, including for a project that would redevelop the former Kirk Apartments property downtown.
The city’s Director of Development Services Steven Van Steenhuyse says the city anticipates four applications for the credits to help finance four multi-family developments within the Mason City Urban Revitalization Area. The tax incentive provides a refund of sales, service or use taxes paid during construction, and developers may receive a state investment tax credit of up to 10% of the investment directly related to the construction or rehabilitation of the housing.
The four projects are:
== The Lark Avenue Apartments by Talon Development, which would be 64 apartments and 24 townhome units on a 4.24 acre site across from the new Tractor Supply Company store on the city’s west side
== The Briarstone West Multi-Family Project by Next Level Development, which would consist of a 12 unit multi-family building on the east side of Taft Avenue and north of the Canadian Pacific tracks
== The Briarstone West Townhomes by LPE Development, which would include six townhome-style twin homes in three buildings located just east of the Briarstone West Multi-Family Project
== and The Kirk Mixed Use Project by The Kirk MC LLC. The developer of the Federal Avenue Rowhomes and The Delaware Apartments, DevPartners/Shyft Collective, is proposing a mixed-use development on the former Kirk Apartments site. It would include 19 residential units and an attached commercial building between 1800 and 3600 square feet in area.
The council will consider approving resolutions of support for the tax grant applications during their meeting tonight at 7 o’clock in the Mason City Room of the Public Library.
