Monmouth City Council on Tuesday night approved two related measures to establish a new Tax Increment Financing district on the east side of town.
The first was an ordinance to engage the TIF consultant in establishing the new district. The second was an inducement resolution that would allow the city to spend TIF funds to pay for consultants and acquire property.
This would enable construction of streets, water and sewer lines to accommodate a single-family owner-occupied housing development, City Administrator Lew Steinbrecher said.
“It’s a good first step in addressing the need we have for more single-family houses in the Monmouth area,” Steinbrecher said.
He said creating more housing in the Maple City has been discussed and worked on for at least a decade. The City of Monmouth currently has four TIF districts.
