- Associated Press - Sunday, June 5, 2016

IOWA CITY, Iowa (AP) - An Iowa City architect is again asking city officials for support in seeking state tax credits to build a 14-story housing high-rise downtown.

Kevin Monson, president of Neumann Monson Architects, has provided the city with new plans for the mixed-use building that would include 72 housing units, the Iowa City Press-Citizen reported (https://icp-c.com/1TVkp8f ). Monson said the residential units will cater to young professionals.

The development on South Linn Street would replace the lot left vacant when the Van Patten House burned down in 2011.

The Iowa City Council will consider on Monday Monson’s request for a $72,000 investment and a letter of support to the Iowa Economic Development Authority Board for the state’s Workforce Housing Tax Credits program.

The program offers developers tax credits of up to 10 percent of the construction costs for housing units that do not exceed an average $200,000 per-unit construction cost.

If the request gains council approval, Monson said he plans to submit his application to the state board later in the week.

The IEDA board began accepting applications for the tax credit program in February 2015. Applications are considered on a first-come, first-served basis. To apply, Monson needs the city to provide a resolution of support and an investment of at least $1,000 per residential unit.

Original plans for the site included a 12-story development. Monson’s updated plans show a 14-story building with retail or office space on the first floor, office space on the second floor and 48 studio apartments - about 300 square feet each - and 24 one-bedroom apartments - about 500 square feet each - on the higher floors.


Information from: Iowa City Press-Citizen, https://www.press-citizen.com/

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