As metro area home prices rise, while housing availability remains low, the Wichita City Council approved a program Tuesday intended to help address those issues. The council unanimously approved a two-year program of 20-year special assessments for new single-family housing developments. City staff is also directed to meet with those in the industry to develop implementation timelines and program details. Fifteen-year special assessments are currently the norm in the city. Special assessments include infrastructure such as sewer and water lines, streets and stormwater improvements. “This is just one more tool you have in your toolbox that will marginally affect affordability of single-family homes,” said Kathy Sexton, interim assistant city manager, in a presentation to the Council.
Source: Wichita Business Journal
