Cedar Rapids council approves first single-family home incentives
Midwest Development Co. will receive up to 50% reimbursement on infrastructure costs for 60 homes off Underwood Avenue SW.
The Cedar Rapids City Council unanimously approved the first incentives under a new single-family home subdivision economic development program in July 2026.
Midwest Development Co. will build at least 60 homes off Underwood Avenue SW, south of Morgan Creek Park.
The package reimburses the developer for up to 50% of estimated public infrastructure costs totaling $3.9 million, according to the meeting coverage.
Construction will occur in phases of about 20 lots each over several years, with homes priced between $400,000 and $450,000.
"The project is the first to receive incentives through the city’s new single family home subdivision economic development program, which was added earlier this year to the city’s list of standard incentives programs," The Gazette reported.
Sources
- 1.C.R. launches incentive program for single-family homes - thegazette.com — Google News — Cedar Rapids & Linn County
- 2.C.R. launches incentive program for single-family homes — The Gazette
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