City Council Work Session

CITY COUNCIL WORK SESSION Cedar Falls City Hall Conference Room 2 June 3, 2024 The City Council held a work session at City Hall at 5:29 p.m. on Monday, June 3, 2024, with the following persons in attendance: Mayor Danny Laudick; Council Members Chris Latta, Aaron Hawbaker, Dustin Ganfield, Hanna Crisman, Gil Schultz, and Kelly Dunn. Staff members attended from all City Departments and members of the community attended in person. Mayor Laudick introduced the only item on the agenda, Residential Incentives & Draft Policy by Economic Development Coordinator, Shane Graham. Graham gave an overview of housing needs that included tax increment financing (TIF) and residential development, urban revitalization area (URA), and the housing trust fund. Graham reviewed maximum tax exemptions and the current College Hill URA Boundary that was adopted in 2012. Graham mentioned the Cedar Falls Housing Trust Fund Housing Assistance Plan has been drafted and is in the process of being approved by the State. The plans priorities include affordable rental housing expansion, homeownership accessibility, supportive housing for vulnerable populations, sustainable development and rehabilitation, community revitalization and development and emergency housing assistance. Graham suggested the City Council consider creating a TIF incentive program for residential housing developments and create additional Urban Revitalization Areas where infill development is needed without the need for public improvements. Members of the community discussed marketing/education of URA program, consideration of extending College Hill URA boundaries, and Self-Supported Municipal Improvement District (SSMID). Councilmembers discussed the Housing Trust Fund Board, creation of a TIF incentive program, quality of life, the Parks Master Plan timeline, subdivision code update, new development of homes and investing in current home, industry standards, short-term solutions, developer incentives, rebates, taxable value, prices of lots in Cedar Falls, promoting/marketing of URA program (website, brochures, Currents, etc.) and clarification between TIF and URA. The council gave support to review Tax Increment Financing, Urban Revitalization and current assessed value of housing. Meeting adjourned at 6:24 p.m. Minutes by Shianne Bellinger, Administrative Assistant