The City of Coffeyville asks Montgomery County for support in its pursuit of a state housing program.

 

Coffeyville City Manager Ben Brubaker was at yesterday’s (Monday’s) county commission meeting looking for support for the City to establish an Reinvestment Housing District or R-H-I-D. Brubaker says the establishment would help with the development of housing in Coffeyville.

 

Small towns often struggle with a severe shortage of quality housing because traditional development costs are too high for private builders to make a profit. An R-H-I-D helps solve this through specific financial mechanisms and community goals. The R-H-I-D would apply to three properties: the old fire station on 7th Street and two other nearby locations. The district captures up to 100% of the new, incremental increase in real property taxes generated by the new housing project. Brubaker says the extra tax revenue generated by the finished homes is sent back to the developer over a period of up to 25 years to reimburse them for infrastructure costs.

 

While no official action was taken, commissioners agreed to support Coffeyville in its efforts to establish the R-H-I-D.