BNIM, a group looking to convert Iola’s former elementary schools into housing, has passed the first phase to apply for state housing tax credits. They’ll now submit a full application. Plans to convert former elementary schools to housing are still moving forward. BNIM, a Kansas City, Mo.-based architect and design firm, is seeking Kansas Low-Income Housing Tax Credits to help pay for the first phase of the project, which would renovate McKinley and Jefferson. Renovation of Lincoln would be in the second phase. BNIM wants to convert all three former schools into housing. Their efforts hinge on a combination of tax credits, grants and other financing. The group would invest about $21.7 million into all three of the schools, converting them into around 61 mixed-income apartments with the possibility of other types of housing or amenities on the properties.
Source: The Iola Register
