Council okays River Bend Townhomes tax credit application
Published 7:01 am Wednesday, July 8, 2020
The Austin City Council approved a tax credit application for the proposed River Bend Townhomes during its regular meeting Monday evening.
The Southwest Minnesota Housing Partnership (SWMHP) has proposed that the 30-unit townhome project be built on a 4.66-acre parcel at 300 15th Ave. NE, east of Kuehn Motor Company and adjacent to Interstate 90.
The project consists of three separate buildings with the following units:
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• Four two-bedroom units, designated for Persons with Disabilities;
• 24 three-bedroom units; and
• Two four-bedroom units.
Each unit will include an attached garage.
As part of the process, the project must have a resolution of support from the council to extend tax increment financing for an income-limited housing project. Now that it has council approval, the SWMHP must now apply to the Minnesota Housing Finance Agency for tax credits by July 16. Minnesota Housing will announce tax credit awards in December; should it be approved, closing and construction is estimated to begin in Fall 2021.