The City of Roswell is considering a Municipal Infrastructure Reimbursement Program that reimburses home developers for building specific infrastructure elements, which could ultimately lower the cost of new homes.
The program would see developers repaid for the cost of building streets, sidewalks, drainage, and sewer lines on their properties once a project is completed, KRQE reported.
Roswell’s legal committee met to discuss the program in light of the high costs of materials during COVID-19 and a lack of affordable housing. Roswell needs twice the number of houses to match the job growth in the area.
“The city is bringing some of their funding to bear in order to offset the cost of what it will take to get a family into that home,” Joe Neeb, the city manager, told KRQE.
City officials are trying to attract developers for an 800-home project in the northern part of Roswell, and offer incentives to revitalize the southern part of town.
“At a time, we only had a small number of residences available to support people,” said Mike Espiritu, president of the Roswell-Chaves County Economic Development Corporation. “As you know companies have to look out for workers to a new city, like Roswell, will always look for the things that benefit their employees.”
The city of Hobbs instituted a similar reimbursement program in 2012 and had success with the development of single and multi-family homes.
City council will vote on whether to implement the proposal on Oct. 14, and if passed it will go into effect immediately.