Sioux Falls' partner on affordable housing warns subcontractors about slowing economy
The city council approved a $2.1 million tax increment financing package in October for the project in northeast Sioux Falls.
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The city council approved a $2.1 million tax increment financing package in October for the project in northeast Sioux Falls.
All of the homes would all need to be constructed by May 1, 2028, Business Development Coordinator Dustin Powers told councilors at the meeting.
Higher interest rates increase the cost of doing business, which leads to a slowdown in all aspects of business, including hiring, and sometimes leading to layoffs.
Iowa will likely weather labor market problems better than national average.
Two amendments also sent $650,000 more to the Sioux Falls Police Department in 2023.