The Ketchum Urban Renewal Agency board of commissioners voted unanimously Monday afternoon to allocate $400,000 to support an affordable housing project in downtown Ketchum.
The city of Ketchum, the Ketchum Community Development Corp. and developer Greg Dunfield of GMD Development are spearheading the project, which aims to build affordable housing on East Avenue and Fifth Street, the current site of Ketchum City Hall.
The KURA board will contribute $400,000 to support the project’s application for tax credits from the Idaho Housing and Finance Association, which is due on Aug. 2. The funding will help pay for public infrastructure associated with the development.
Voters will decide an $11 million bond measure in November to fund construction of a new fire station near the Wood River Community YMCA. If the bond passes, the Fire Department, Police Department and city administration would move out of the East Avenue facility and into new homes, allowing for the demolition of that building.
If granted tax credits by IHFA, the housing project would commence following the demolition. City Administrator Suzanne Frick told the KURA board that the housing project would proceed regardless of the bond measure’s outcome, if IHFA awards tax credits. That would mean finding a temporary home for the Fire Department.
For full coverage of this story, check the Wednesday, July 17, edition of the Idaho Mountain Express.