The Carroll City Council approved two resolutions during their meeting this week to support the addition of workforce housing units near the community’s downtown. Since last August, officials have been working with Court Street LLC to facilitate renovations to the 502 N. Court Street apartments. Adam Schweers, one of Court Street LLC’s investors, approached the council in February seeking a 10-year, 100-percent tax abatement on the property’s increased value once construction is complete. The council was supportive of the plan, but Finance Director Laura Schaefer says there are some required steps before a new abatement plan can be implemented.
The proposed addition to the city’s urban renewal district falls between 7th and 8th Streets and Simon Avenue to Court Street. City officials must meet with the local taxing authorities that would be affected by the change, and that is tentatively scheduled for May 4. The amendment also requires a public hearing, which is set for the May 22 council meeting. The resolution approving those dates was approved unanimously. City Manager Aaron Kooiker says Court Street LLC also requested the council formally voice their support for the project as they seek state workforce housing tax credits.
The council unanimously approved the letter of support, noting it falls within the recommendations of the community’s most recent housing study and would provide much-needed workforce housing. Court Street LLC is investing nearly $2 million into the project. When completed, the building will be restored to its original 1929 appearance, and 12 new apartment units will be added to the city’s housing stock.
