The Lake View City Council has approved the final version of a development agreement with the Urbandale-based Affordable Housing Foundation. According to Administrator, Scott Peterson, this project has been in the works for more than six months, and the terms of the contract are now official after the council voted unanimously in support of the agreement Monday night. The Affordable Housing Foundation is purchasing the former Rardin salvage yard site for $10,000, and the city will invest nearly $220,000 to help the project along.
The developer is planning to build 12 to 16 residential housing units in the neighborhood. Most of the structures will be duplexes, but there will be several single-family homes built and at least one four-plex built as well. Peterson says the agreement indicates construction will start in the near future.
While the development agreement has been finalized, Peterson says the city council still needs to go through the process of formally selling the property. This requires a public hearing, which was placed on the agenda for the council’s next meeting on Monday, Oct. 18. Barring any public opposition to the transaction, the city can then transfer ownership of the property and can begin sitework in earnest.
