JEFFERSON CITY — A Missouri development agency has approved a $35 million plan to spur housing.
The Missouri Housing Development Commission voted Friday to use $15 million from the federal stimulus package and $20 million from a reserve fund to help home-buyers and spur construction of apartments.
Included in the package is $15 million dedicated for paying the property taxes for low- and middle-income people who buy a house next year. Housing officials estimate that more than 9,000 households would be eligible to have up to $1,250 of their property taxes paid.
Supporters called it a simple tax cut for Missourians that could help spur the economy. But one critic questioned if the property tax portion fit within the agency's mission.