(Atlantic) The project’s scope, known as the Comes Subdivision Housing Development, now called the Prairie Hill Development, is changing Phase I to 34-development lots. On Wednesday, housing committee members Christina Bateman and Bob Camblin appeared at the Atlantic City Council Meeting.
Camblin says the change allows the city to amortize the cost of the land from 13 lots to 34 lots, which fits in well with the tax increment finance formula.
The more aggressive first phase also brings with it some additional costs. The land acquisition is $830,000. The infrastructure to connect East 19th to Olive Street, creating 34 lots for development, is one-million-eight-hundred-thirty-seven dollars, which trails $200,000 for two-million-eight-hundred and thirty-seven dollars.
Christina Bateman says Southwest Iowa Planning Council Community Development Director Alexis Fleener identified a Destination Iowa Grant Program. If approved, the grant would cover 25-percent of eligible expenses.
Grant submissions can start on May 9, and funded projects must be completed by June 30, 2026. The funding is made available through the federal American Rescue Plan.
Fleener will submit the grant on behalf of the City of Atlantic.
On April 6, by unanimous vote, the Atlantic City Council approved the purchase of 41.54 acres of farmland for $830,000 from Jim Comes for a housing development project located south of the High School.
