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Waynesville ups affordable housing incentives for nonprofit developer

Balsam Edge will be located directly behind the Ingles on Russ Avenue in Waynesville. Balsam Edge will be located directly behind the Ingles on Russ Avenue in Waynesville. Haywood County GIS photo

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 capital project, and tax credits applied for by MHO in 2021 didn’t materialize as expected.

 to reconsider the original $167,000 incentive, and requested $306,750 during a Feb. 14 meeting.

, Waynesville’s current ad valorem tax rate isn’t even in the top half of municipal tax rates.

At 43.92 cents per $100 assessed property value, Waynesville ranks 305th out of 710 North Carolina municipalities.

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  • We desperately need more affordable housing in this town and in this county. Having this particular site so close to grocery and other stores is a plus particularly for those who don’t have cars. The tax incentives make sense. I am a retired bank lender to builders and developers in Florida and tax credits were common as were other incentives. Some municipalities even donated or greatly reduced land for low income housing. Not everyone has the income for the ridiculously high rental rates in the current environment. This project will serve a great need for many of our citizens.

    posted by Marti Bowman

    Saturday, 04/08/2023

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