Russell City Council Approves Resolution of Support for Renovation of Former Holland Hotel
The Russell City Council met Tuesday and approved a resolution of support for Russell Development's renovation of the former Holland Hotel building on 7th Street in downtown Russell into loft style apartments.
Tuesday's action also authorizes the City to apply for funding through the Moderate Income Housing program.
Russell Development plans to renovate the former Holland Hotel into market-rate apartment rentals.
According to City staff, the housing assessment supports strong demand for many types of new housing, including rentals. It indicates that Russell may be losing out on additional residents because of limited inventory of housing.
The City of Russell can partner with Russell Development to rehabilitate this downtown property into housing units by applying for a Moderate Income Housing grant through the Kansas Housing Resource Corporation. Cities and counties can partner with outside individuals and developers for housing projects under this program.
The grant application is in the amount of $650,000. There are no matching fund requirements from the City for this grant.
Along with that, the Council on Tuesday also approved a resolution making certain findings and determinations regarding shortage of quality housing and proposing the creation of a Rural Housing Incentive District for the hotel renovation project.
Also Tuesday, the Council approved the purchase of an Altec bucket truck for the Electric Department in the amount of $218,223 with an estimated delivery date of 2025 to be funded from the electric depreciation fund. The electric depreciation fund includes $220,000 for a replacement bucket truck. The new bucket truck will replace a 2007 Altec bucket truck, which upon receipt of the replacement truck in 2025 will be sold at public auction or transferred to the Parks Department.