A community in the Iowa Great Lakes is doing what it can to address a housing shortage for low to moderate income residents.
The Dickinson County board of supervisors has agreed to allocate tax increment revenue generated by two new housing developments in Lake Park to the Lake Park Housing Authority.
Spencer Attorney Don Hemphill is assisting Lake Park officials in laying the groundwork for the project. He says the half-million dollars or so in LMI funds generated by the two TIF districts will allow the Housing Authority to establish, among other things, a revolving loan fund. "They could be forgivable or they could be no interest, but the idea is to improve the housing stock through the community. Another possibility, a grander approach that's been planned and the need is there, is a mixed housing development that would involve assisted living, senior apartments, some multi family, to try to get a mix of housing," Don Hemphill, Spencer Attorney said.
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