The 40 rental home subdivision proposed by Windsor Homes of Springfield has cleared its main hurdle to obtain state tax credits.
Mike Niehaus, President of Windsor Homes, told WGEL Radio that they have received approval for tax credits from Illinois Housing Development Authority. These tax credits are used to attract investors to the project. While Niehaus said the development is not a done deal, he said tax credits are the biggest hurdle to jump.
The 40 home subdivision near Idler Lane would be built over about 15 months and could start as early as summer 2015, according to Niehaus.
The Bond County Housing Authority would be in charge of maintaining the exterior of the homes, along with the common area, while the homes remain rental properties. The homes could come up for sale after 15 years, but there is not guarantee that will happen. Qualifying to rent one of the subsidized homes will be based on income.
Back in July the Greenville City Council voted 3-2 to spend approximately $143,000 of city money to extend College Avenue past Idler Lane to reach the proposed subdivision. In total it would be about 1,000 feet of road. It was unclear in July, and still is today, if the city may spend more money on bringing sewer services to the subdivision as well.
The vote in July was Roger Sanders, Kenny Hampton and Alan Gaffner voting “yes” and John Gillard and Mike Heath voting “no”.
Niehaus told WGEL Radio they will try to use as many local contractors as possible and contractors wishing to be on their list of bidders are invited to contact Windsor Homes in Springfield.
At Tuesday night’s Greenville City Council meeting a handful of local realtors and residents expressed their displeasure with the proposed subdivision and the city’s decision to spend the money on the College Avenue extension.