Moundridge - MIH
The city of Moundridge, in McPherson County, has a population of 1,726 and was provided a grant of $68,500 and a loan of $206,500 to build 6 duplexes (twelve housing units) in a new development area. This area was approved as a Rural Housing Incentive District. Thirty tax credit affordable housing units were also constructed to create a mixed income subdivision adjacent to new higher income housing. There is also a long-term care facility nearby. The city paid for the extension of the utilities, and INTRUST Bank Provided the primary financing. The total cost of the project was $1,236,850 with MIH funding leveraging an investment of $961,850.
This development provides opportunities for many people who work but do not live in Moundridge due to lack of housing. Randy Frazer, the City Administrator for Moundridge, says “Moundridge is blessed with great industry and numerus employment opportunities. For years our community has struggled with the lack of quantity as well as quality residential rental properties needed to support our local employers. By pooling multiple resources, the Meadow View Development brought much needed quality rental opportunities to our community. The MIH program from KHRC was a critical piece of that puzzle”.