CLEAR LAKE — The Clear Lake City Council this week approved the final reading of a zoning change to allow for the development of a new subdivision in the 2600 block of South Shore Drive.
After an unsuccessful attempt by AKK Investment Properties of Webster City to turn the land located just north of the Clear Lake State Park campground and just south of a residential neighborhood into a recreational vehicle campground, the developer looked into placing housing on the land instead.
Clear Lake mayor Nelson Crabb says the zoning change will allow the developer to construct twin homes or duplexes as well as single-family homes. “Eight lots of that will be reserved for twin homes, and then 14 lots for single-family dwellings. He hopes to break ground as soon as next week and get foundations in place on very possibly four of the twin home lots before winter sets in.”
The council also approved a development agreement to offset some of the cost of developing the property with a forgivable loan of up to $150,000. “The developer will sign a promissory note as security on this forgivable loan. We will go out and purchase the water, storm and sanitary sewer main line pipe material, and then they will use that in their construction process and then sign the promissory note as security that the development is completed and accepted by the city, then the loan will be forgiven.”
Crabb says the development will bring more market-rate housing to Clear Lake. “What we’re really needing in this community, and it’s not only Clear Lake, it’s others in the Midwest and around the country, is moderately-priced housing. It’s a need, it’s not a want, but it’s a need in this community. This project seeks to provide homes we feel in the range, and in talking with the developer who concurs with us, from about $250,000 to $325,000.”
The council also proposed to prepare an urban revitalization plan for the subdivision which would provide a partial property tax abatement to future home purchasers on the first $75,000 of assessed valuation.
Crabb made his comments on the “Ask the Mayor” program on Wednesday on AM-1300 KGLO. Listen back to the program/download it via the audio player below