HomeMy WebLinkAboutBig_Hand_Pepper_-_Housing_Tax_Credit_1554_Oakwood_-_6.2.2025 11
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Docusign Envelope ID:01103EED-C1A0-4BA5-B038-OC40EB96CC3F
WORKFORCE HOUSING
TAX INCENTIVE PROGRAM
COMMUNITY INPUT FORM EconomicDevelopment
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Communities supporting a Workforce Housing Tax Incentive Program application are to complete this form. This is to
be filled out by the city where the project is being proposed and signed by a city official.
Community Name: Waterloo
Project Name: Greenbrier Addition
Developer Name: Big Hand Pepper LLC
Printed Name of City Official Completing the Form:
Is the type of housing proposed in this project a priority for the community? W1 Yes ❑ No
If so, explain why:
A housing needs analysis estimates that the demand for single family housing will grow to a shortfall of 1359 units
by 2030. At an avg price point of$300,000 these homes would be in a very needed and competitive price point for
horpas 0A this GGmmwpity meets goals 1, 2' @Ad 2 from the HNIA-
These goals 1) VlaffiAtaiP aAd improve the quality of
existing housing stock, 2) supports infill development and redevelopment of older neighborhoods, and 3) expands
opportunities for moderate income homebuyers.
Describe recent or planned business expansions that created a need for additional housing in the community and the
number and types of jobs to be created because of these expansions.
Supporting Waterloo's HNA/housing summary, Roskamn Champion finished a new building retaining 90 jobs and adding 40 new jobs
over a 3 year span. Crystal Distribution completed its cold storage expansion adding 70 new jobs. Tyson Foods aded a$50 million
expansion and plans to add 235 new jobs. Image Pointe is expanding and working to add 40 plus new jobs. Warren Transport added
new logistic center adding 52 jobs. Majority of all of the above are WorkForce jobs.
How will the project impact the local economy?
Because many Waterloo Residents commute elsewhere to work the entire region's workforce dynamics are relevant to Waterloo. From
2020 to 2080,&INI i the Godar Valley is p ojeeted to grow f om 268,480 to 289,79E)workers,an 11 Waterloo&I
projected to grow by 4%. Employment is expected to increase in all occupational categories. This increases the need for homes and at the
same time will increase school enrollment,stimulate business growth,enhance retail and small business activity, and broaden the tax base
o support city services needed.
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Docusign Envelope ID:01103EED-C1A0 4BA5 B038 OC40EB96CC3F •
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Describe how housing is a barrier to job growth in the neighborhood or community.
T for work.
Throughout our applications the common theme is workforce housing is an obstacle to getting new employers or for employers to grow.
This not only affects Waterloo but its surrounding communities.Waterloo is home to many employees who commute to work daily due to being a
larger city. In order for the estimated 11%increase in workforce to happen for medical,education, oo inclustry,and transpora ion
work force housing is drastically needed.
Describe how this project addresses the needs of the local housing market.
Employers highlight the absence of sufficient affordable workforce housing as a reason that they cannot recruit. Employees that struggle
to f6i id satisfactui y 0 muses feel to ie, eed to look outside t'ne cui i inial inty di id do i iot wal it to Culi imutid flul I I bi 11dilrdi tUVV1 lb W id tI imefoie ass on
ths,position therefore creating iss,les for In,isiness expansion or relocation to Waterion ril le to in-adeq,late hol lsing cern is
imperative to creating a stable work force.
Describe the impact of this project on the neighborhood and how it meets the needs of the community.
While one single subdivision cannot do it all a neighborhood like this with 16 units that are a move up style home,creates 16
units in a lower price point, and so on. As also noted there is nothing listed for new construction in the community in price range of$300000.
Demand tor starter omes can start o be met throughthe creation ot homes at the moderate price level. I--inally,as also mentioned ese
hernes fneet the goal of bettering older neighborhoods through infill developmemb
DocuSigned by:
c-Intln AAvf 6/2/2025
D0595D7AAACPA49
City Official Signature Date
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