NYM EDA looks to incentivize new homes
News | Published on March 25, 2021 at 4:31am GMT+0000 | Author: Chad Koenen0
By Chad Koenen
With another potential housing development on the horizon, as well as several lots that remain to be sold, the New York Mills EDA is taking a look at the base price of properties in the Countryview housing development.
During its regularly scheduled meeting on Wednesday morning, the NY Mills EDA heard from city clerk/treasurer Julie Roberts about several lots that are currently for sale in Countryview. She said the city recently discussed financing options and incentives, like the TIF district and the Big Build from Otter Tail County, which provides tax incentives for constructing and remodeling a house.
“We are trying to come up with some creative ideas,” she said to spur more housing in the community.
Due to assessments, a typical lot at Countryview sells for about $22,000. The cost ultimately varies depending upon the size of each lot. Roberts said the county’s value is closer to $11,000 for a lot in Countryview. She said a typical house, of a similar value in NY Mills, will generate about $1,000 a year in city taxes and utilities, so even if the city were to lower the cost for a lot it could recoup the difference in a short period of time.
Her concern was that the city would start selling lots on South Point, while also having lots in Countryview.
“I’d really like to have a push to get more of these sold before we start to sell on the South side,” she said.
EDA members said just because there are lots available at Countryview, the city and EDA shouldn’t hold off on trying to market the South Point lots as both developments are unique from one another.
The EDA formed a committee to look at potential options for the list price in Countryview. However, it said the city should proceed with South Point even if all of the lots are not sold in Countryview.
The committee will include Blaine Novak, Dave Rud and Jason Schik. They will bring back a recommendation to an upcoming NY Mills EDA meeting.
In other news
• Heard the city has drilled three new test wells on its South Point property. Two of the wells are good and one was extremely good. The discussion took place after the EDA learned Brunswick has expressed an interest in the current city shop building and property. If the city sells its shop there have been discussions about relocating the city shop to the South Point development.
• Heard from Roberts that at least seven different communities and organizations have reached out to NY Mills to inquire about the Pod daycare system. Roberts said people are reaching out to the City of NY Mills to inquire whether a similar Pod daycare can be installed in their community.