Atlantic City Council to act on affordable housing development proposal, Wednesday
January 31st, 2012 by Ric Hanson
The Atlantic City Council is set to meet Wednesday evening. During their 5:30-p.m. session at City Hall, the Council will hear a report from the Cass-Atlantic Development Corporation (CADCO), and act on a Resolution supporting an Affordable Housing Development proposal for the Southern Heights second- and third-additions. City Administrator Doug Harris says developer Cohen-Esrey has requested the City’s financial support for their proposed 16-unit affordable housing project, which would consist of 16 three-bedroom, 12-hundred square-foot, single-family houses. The houses would cost $100,000 each. The City’s Finance Committee has met twice to discuss the request, and is expected to recommend the Council approve the resolution, along with a level of financial support, not to exceed $160,000. The contribution would lower the developer’s operating costs, and allow them to meet the requirements for Iowa Finance Authority (IFA) Low Income Housing Tax Credits. Harris says if the Council passes the resolution, and the developer is awarded the tax credits, the Council can place requirements on the project, through the development and minimum assessment agreements, which can be negotiated prior to the approval of any development incentives.
In other business, the Atlantic City Council will hold the first reading of an ordinance amending the posted speed limit on 22nd Street, from Highway 71 to Olive Street, and from Chestnut Street to Highway Six. Police Chief Steve Green has recommended reducing the speed limit on 22nd Street from 45- to 35-miles per hour, citing the hilly terrain, which tends to hide residential driveways from view, until motorists approach them. Green says the average speed on 22nd Street is 37-miles per hour, but people often exceed the 45-mile per hour limit.
The Council will also hold the second reading of an ordinance amending the City’s Traffic Control ordinance, by adding a stop sign on Pine Ridge Road, at 22nd Street. At the end of regular business, the Council will enter into a closed session to discuss collective bargaining strategies.