Affordable Housing IRB Incentives Backed for Stone Creek

Scope & details

The full contract record, as filed.

Contract amount

$26,335,000 capital investment; approximately $18,310,893 in LIHTC equity; estimated $1,832,193 City portion of 10-year 60% property tax exemption plus $70,429 City sales tax exemption (total $1,902,621 in City incentives)

Contract type

FINANCIAL_SERVICES

Contract term

30-year rent affordability commitment; 10-year 60% property tax abatement and sales tax exemption on construction materials

Renewal date

2036-12-31

Renewal

Incentive structure includes a 10-year 60% property tax abatement and sales tax exemption on construction materials; LIHTC requires 30 years of rent affordability. Incentives are performance-based and can be revoked if project targets are not met.

Document type

Agenda

Source document

City of Derby Agenda Community Development Advisory Board Meeting 2026-08-05

Related contracts

Other contracts from Stone Creek Residences Llc.

View all →

Derby City Council Minutes 2026-07-14

DISCUSSED

City of Derby, KansasJul 14, 2026

City of Derby Agenda Packet 2026-07-14

RECOMMENDED

City of Derby, IowaJul 12, 2026

Derby Community Development Advisory Board Meeting Agenda May 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Derby?

Stone Creek Residences Llc was awarded this financial services contract by City of Derby, as recorded on August 1, 2026. The contract value is $26,335,000 capital investment; approximately $18,310,893 in LIHTC equity; estimated $1,832,193 City portion of 10-year 60% property tax exemption plus $70,429 City sales tax exemption (total $1,902,621 in City incentives).

How much is the Stone Creek Residences Llc contract with City of Derby worth?

The Stone Creek Residences Llc contract with City of Derby is valued at $26,335,000 capital investment; approximately $18,310,893 in LIHTC equity; estimated $1,832,193 City portion of 10-year 60% property tax exemption plus $70,429 City sales tax exemption (total $1,902,621 in City incentives), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in City of Derby Agenda Community Development Advisory Board Meeting 2026-08-05 (Agenda), dated August 1, 2026 from City of Derby. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Stone Creek Residences Llc hold?

Stone Creek Residences Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Stone Creek Residences Llc's profile

What is City of Derby currently buying?

Explore City of Derby's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View City of Derby's profile