The 48-unit family apartment complex is being built through a cooperative agreement between Northeast Missouri Community Action Agency and Jeffrey E. Smith Development, Inc., a Columbia-based developer.  The development is being financed with a $940,000 federal HOME Community Housing Development Organization program loan and $296,314 in federal and state housing tax credits through the Missouri Housing Development Commission.

State Treasurer Holden serves as an MHDC commissioner.  "Affordable housing continues as a high priority in Missouri," said Holden, a past chairman of MHDC.  "The awarding of state and federal tax credits ensures these apartments will be available to working families in the Kirksville area for many years to come."

Housing Tax Credits are allocated each year by the Commission through a highly complex, competitive process to developers who will build high value, affordable housing in communities while at the same time guaranteeing to keep the rents low. 

Kirksville Gardens' 32 two-bedroom units will rent at $335 per month while the 16 three-bedroom units will have a $361 monthly rental price.

"Tax Credits have helped to finance thousands of rental units throughout the state that provide quality homes for Missouri families," said Holden.  "Through this program, we are able to identify communities like Kirksville, who have a pressing need for housing for those working in the area and meet those needs through a nonprofit/for-profit partnership."

Kirksville Gardens was one of 43 developments approved for funding this year.  The projects were chosen from among 114 developments proposed during the fiscal year 2000 funding process.

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