Tax incentives encourage central CB 'hood development

[eomaha]

Katelman Pool neighborhood continues to grow

New housing continues to grow in the central part of Council Bluffs and at prices where there's a definite market, a local planner said.

Brenda Kunz, program coordinator for the Community Development Department, said she will soon be selling 31 lots in the Katelman Pool area to seven builders as part of a large redevelopment project there.

It's hoped the 31 homes on these lots can be completed for occupancy in a year, she said.

The seven builders have requested the purchase of at least four lots, making them eligible to receive tax incentives.

"We try to be conscious that each builder get at least four lots because that qualifies them for a 10-percent investment tax credit and a 100 percent rebate on state sales and utility taxes," Kunz said.

The average sale price of the homes will be $136,556, she said, with an overall price range of $126,900 to $165,000.

"There's more growth in homes over $150,000 and there's not a lot of homes in this price range," Kunz said. "We think there's a definite need."

The average size of living space in these homes will be 1,300 square feet.

The homes will be split-level or two-floors with three bedrooms and an attached two-car garage. Approximately 24 of the homes will be built north of 14th Avenue between South 10th and 13th streets. Four others will be on the corner of South 13th Street and 15th Avenue and the remaining three will be at the corner of South 10th Street and 14th Avenue.

There are no income restrictions to purchase these homes, Kunz said.

"Anyone can buy them," she said.

Approximately 31 homes have already been built and occupied in that area, Kunz said.

"This is the next phase of redevelopment in that neighborhood," she said.

Eventually, 75 homes are to be built in the area of 14th to 15th avenues from South Eighth Street to 13th Street, Kunz said.

"The city has invested a lot in the Katelman Pool area and Sunset Park area and this will be a nice complement," she said.

[icejammer]

Congress to vote on $400k housing plan

Council Bluffs received some good news this week about a major redevelopment in the central part of town.

Approximately $400,000 has been included in a fiscal year 2008 transportation and housing bill for improvements to the Sunset neighborhood, the office of U.S. Sen. Tom Harkin, D-Iowa, announced.

The city is in the final two phases of new home construction in the area bounded on the north and south by 14th and 16th avenues and on the east and west by South Ninth Street and the South Expressway, Gross said. About 100 new homes are to be built in this project . . .

. . . If approved, the $400,000 would probably be focused on rehabilitation of existing structures there, though nothing is yet set in stone, Gross said.

The money might be used for exterior rehab assistance, including rental properties, Gross said. It's possible money could be set aside for exterior work for the numerous businesses along South 16th Street [ed. - probably should read Ave., not St.], he added.