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Missouri housing agency approves $35M assistance plan

Friday, December 18, 2009 | 12:27 p.m. CST

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.

 


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Comments

Ken Lueckenotte January 8, 2010 | 8:06 a.m.

If you want to spur the economy the tax relief should be across the board, otherwise it's just another welfare program that someone else (higher income bracket) has to pay for.

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