The council unanimously approved a deal with local developer, Gen III construction, on a new housing subdivision in north Topeka. They established a Reinvestment Housing Incentive District (RHID) as part of a state-sanctioned program. Gen III will cover the costs to develop 15 houses up front. The city will reimburse them up to $385,000 on the back end using the increase in property taxes generated from the project. Prices for the houses in the subdivision will range from $260,000 to $325,000. RHIDs require city and state approval. In short, they help local governments address housing needs. Capital city leaders approved another RHID for low-income apartments back in August.
Source: KSNT 27 News
