Joplin City Council will hear a presentation on the final version of a plan to revitalize housing in declining neighborhoods when it meets 6 p.m. Monday at City Hall.
The plan will require an initial investment of $1 million for the incentives, one-time costs of $2,000, $58,500 for staffing and $5,000 for "costs."
Under the plan, the city will offers incentives of up to $50,000 for construction of units to replace deteriorating housing.
The programs must replace existing single-family home and "complement existing neighborhood aesthetics," according to the plan.
The construction that is approved for the plan must not become rental property for a three-year period. That is a change from an earlier version of the plan that set the time at 10 years.
After an application is approved, construction must start within one year.
The initial round will be limited to 15 applications.
Each builder will be limited to one application.
The benefits to the city, according to the plan are as follows:
• Minimizes the long-term negative impact of underperforming real estate.• Strengthens tax base to benefit local taxing jurisdictions.
• Improves housing supply
• Limits the amount of homes that could be controlled by predatory landlords
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