TOPEKA (KSNT) – The Topeka City Council voted to approve the submission of a Reinvestment Housing Incentive District (RHID) application to the Secretary of Commerce for review.
Windward Estates wants to develop the southwest corner of 45th and California to build 20 duplexes. Developers, however, say that the plan has been stalled due to present economical conditions.
This Topeka family goes all out on Halloween
The city council’s approval of the Reinvestment Housing Incentive District application is the first step in assisting the financing of the public infrastructure improvements. RHID captures the incremental increase in real property taxes created by a housing development project for up to 25 years. Revenue can be used for reimbursement for incurred costs or to pay debt service on bonds.
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