A new housing development has been proposed in Nevada. The public will be given an opportunity to voice their opinions regarding the development during a public hearing scheduled for Oct. 28, during the regular Nevada City Council meeting.
Developer R. Friedrich & Sons, Inc. has proposed a housing project that will be located in the open area north of the existing houses in the Indian Ridge Development and south of Lincoln Highway. The development will include 26 duplexes and 13 single-family homes for a total of 39 housing units. If approved, initial housing construction is predicted to begin in May 2014, with an estimated build-out completion date in May 2017, based on an average of 13 housing units built per year.
A resolution, yet to be approved by the council for the proposed development, includes a financial incentive for the developer in the form of annual appropriation tax increment payments in a cumulative amount not to exceed $800,000. Councilman Ray Schwichtenberg made a motion to amend the ordinance to include the word “cumulative” to better clarify the incentive. Council unanimously approved the amendment.
Friedrich’s proposal comes as a result of the City/NEDC Housing Committee’s efforts to address housing needs in Nevada. Earlier this year, the city sent out packets to area developers, including Friedrich, asking them to propose a housing plan to the city. Friedrich offered a verbal proposal during the housing committee’s Aug. 13 meeting. The housing committee, as well as the council development committee, came up with the incentive recommendation that was given to council for consideration.
The council will make a decision regarding the proposed development at a later meeting.