The Grand Street Development project requested certain financial incentives and a rural housing incentive district for a new housing development north of E. Grand Street and east of S. Center Street.

Council members approved the request at their meeting Monday, December 5.

Matt Wolff, finance director, said the funding agreement was the first step and allows the city to retain administrative and professional staff, outside counsel and consultants and to incur other expenses to evaluate the proposed projects.

The applicant is responsible for all reasonable costs, he said. The applicant will make an initial deposit of $5,000.

Mike Smith, the developer, said it is a 120acre project with 70 acres for a 55 and older housing community. 6.5 acres will be for an assisted living community and 6.5 acres for a senior complex.

Steve Shute, council vice president, said he wanted to know if it was ADA accessible.

Smith said yes and the single-family homes and townhomes will have their own amenities and the development will also have an expansive walking trail. The west side will have estate homes and there will be a 15-to-18-acre lake.

“The senior apartments will have their own amenities,” he said. “It is a big, pretty large community. It is really high end, and we are excited about it.”

Todd Winters, mayor, said it fits several housing needs in all areas.

Laura Marie Maybaum, resident, said was the development going to be affordable.

Shute said he thought tax credits were involved.

Maybaum reemphasized that she wanted to know if it was going to be affordable.

Jim Pruetting, city administrator, said they were still in the early stages of the process.

Maybaum said she hopes the city thinks about the affordability.

“Please don’t be priced so high that everyone from Johnson County moves in and outs residents here,” she said.

Shute said he thinks the intention is to keep residents in the city.