Local housing projects among dozens seeking state tax credits

The River Heritage Apartments at Walker and Woodlawn streets and Silver Springs Apartments at North Silver Springs Road and Spruce Street in Cape Girardeau are among dozens of housing projects in the state competing for tax credits from the Missouri Housing Development Commission.

The commission held a public hearing Oct. 28 regarding requests for financing and housing tax credits, including the senior housing apartment complexes in Cape Girardeau. The hearing was in St. Louis and 84 residents and developers attended, said commission public information administrator Brian Vollenweider.

Chad Hartle, president of RCH Development Inc., in August presented his plan to the Cape Girardeau City Council for River Heritage Apartments, as did MACO Development Co. LLC, which presented its plan for Silver Springs Apartments senior housing. The complexes are senior housing developments that will include about 40 units each. Resolutions of support for the separate developments were passed by the city council.

For 2014, the amount to be allocated among projects for construction/permanent loans is about $9.3 million, and about $13.5 million for low income housing tax credits, according to the commission website.

"There's only so much funding, so everybody can't get approved," Vollenweider said.

The public comment period for the projects ended Monday, and Vollenweider said there were no questions or comments at the public hearing, which is not unusual, he said, as it depends on particular housing projects and public opinion.

Cape Girardeau city planner Ryan Shrimplin said as of Monday afternoon, there had been no public comments on either project submitted to the city.

The commission will meet Dec. 6 to announce what housing project applications for state tax credits were approved.

Vollenweider said the commission will explain its reasoning to appropriate developers as to why some applications did not meet criteria to receive approval, and what would be needed for projects' future tax credit approval.

ashedd@semissourian.com

388-3632

Pertinent addresses:

Walker Street and Woodlawn Street, Cape Girardeau, Mo.

North Silver Springs Road and Spruce Street, Cape Girardeau, Mo.