City looks at changing policy on using industrial revenue bonds for rental housing
Should the city government issue industrial revenue bonds for things like non-low-income rental housing? That’s the question the Manhattan City Commission will take up at Tuesday’s meeting. The issue follows a January retreat at which commissioners said they wanted to help create more workforce housing. They asked city officials to draft a housing policy to take advantage of available programs and tools. The city government previously has used IRBs for industrial and commercial development. An approved IRB can result in a property tax abatement of the new property taxes created by the rental housing project for a period of up to [...]