Fort Scott City Commissioners on June 18 discussed Reinvestment Housing Incentive Districts. Bourbon County Regional Economic Development Director Robert Harrington said a RHID for the downtown area would fund “any upper-story living,” while the lower level must be commercial. The RHID would not pay for such items as appliances and furniture. A RHID is a program designed to aid developers in building housing within communities by assisting in the financing of public infrastructure improvements. RHID captures the incremental increase in property taxes created by a housing development project for up to 25 years. The revenue can be used for reimbursement for incurred costs or to pay debt service on bonds, according to www.kansascommerce.gov.
Source: Fort Scott Tribune
