City agrees to $380K land sale for affordable senior housing
Friday, February 1, 2019
Posted by: Carly Cahur
The Manhattan City Commission unanimously approved Tuesday selling land for an affordable senior housing development.
The city is selling 19 lots in Lee Mill Village in west Manhattan to the nonprofit Manhattan Area Housing Partnership (MAHP) for $380,000.
Canyon Creek Senior Housing would have 36 affordable senior housing units in the form of 18 duplexes as well as a clubhouse.
The target population will be individuals 55 and older at 40 to 60 percent of the area’s median income. That’s between $22,240 and $30,360 in annual income.
Mariah Parker, property manager for the partnership, said monthly rent, which wouldn’t exceed 30 percent of household income, would range from $450 to $650. “Once a person qualifies for our housing, they would always qualify whether or not their income exceeded that $30,000 limit,” she said.
Brett Ballou, president of Schultz Construction, the project’s contractor, praised MAHP executive director Jill Jacoby.
“Jill cares a lot about her mission,” he said. “She cares a lot about her properties and how they’re maintained. Most of all, she cares about the people.”
This development would place the land back on the property tax rolls. The city bought 35 lots and three common areas in Lee Mill Village at the Riley County Tax Sale in 2017.
The city paid $62,000 for the lots and common areas at the tax sale to preserve its interest in the special assessments that were used to develop the land.
City administrators estimate Canyon Creek would generate $120,000 in annual property tax revenue.
Deputy city manager Jason Hilgers said the project could generate the momentum needed to finish out development in that area.
The city would still have to cover the remaining balance of special assessments on the 19 lots, which equals $190,000.
Commissioner Usha Reddi said she’s concerned about the special assessments, but she wants to get the land back into productive use.
Commissioner Jerred McKee said he fully supports the project.
“I encourage you to keep bringing back proposals like this,” he said. “I want to keep seeing developments like this. These are the things our community needs.”
The commission also approved a resolution supporting MAHP’s application to the state for tax credits and amending the Lee Mill Village Planned Unit Development (PUD).
MAHP anticipates a response from the state on its senior tax credit application this summer.
Read the original article here.