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EL PASO, TX-Bracing for an influx of soldiers at Fort Bliss by summer 2010, El Paso’s city council last week passed a multifamily initiative to encourage new construction of military housing. A story in El Paso Inc. reports that the city will rebate developers up to 100% of construction fees as an incentive to build.

The publication says more than 10,000 new soldiers are expected at Fort Bliss a year and a half from now. However, multifamily starts have dwindled down to almost nothing because of city fees, cost of construction, and an economic climate that makes funding multifamily developments difficult.

According to a report by the El Paso Chamber Greater Chamber of Commerce’s Military Task Force, if no new apartments are built, the off-post housing deficits will be just under 5,000 units by next year. That need could swell to 10,200 units by 2012, the report notes.

The city council plan will rely on property taxes increases that are likely to come as a result of the new development. The money will rebate the builders an amount equal to the fees paid to the city, meaning construction fees will be waived.

Read more about the multifamily construction incentive article here.

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