All of Charles City Designated Urban Revitalization Area
In an effort to spur the building of more houses or make improvements or additions to existing structures, the City of Charles City has been designated an “urban revitalization area.”
The City Council approved the ordinance during Monday’s (02.05) night Council meeting, with City Administrator Steve Diers noting that both commercial and residential property owners and builders will benefit.
Diers said there have been developers waiting for the tax abatement program to become official.
In addition to the tax abatement program, the City has also been working to attract builders and developers with $2 million in housing tax credits, which became available last August after Charles City was named a “Thriving Community,” by the Iowa Finance Authority.
That translated into $1 million in Iowa Workforce Housing tax credits and $1 million in Affordable Housing tax credits; meaning they can offer $1 million in tax credits to two development projects, which could include apartments on land near Floyd County Medical Center being donated by the Charles City Area Development Corporation.
