Asheville City Council will consider granting a staff-supported economic development incentive to Frontier Syndicate, LLC. The purpose is to construct a 250-unit workforce housing development and a 390-space parking facility on prime real estate. To encourage a lower and worse use of land, the city will waive (1) property taxes for the first five years (est. $150,000 per year), (2) 50% of water tap fees (est. $43,759), and (3) 50% of zoning and permitting fees (est. $51,506). A condition of approval is that Buncombe County provide a grant of greater or equal value. Another way the project will decrease potential municipal revenues is, the developer is asked to keep unit rents “workforce,” which HUD currently defines as 30% of 120% area median income. The developer will also arrange to put government workers at the top of its queue when vacancies occur. Risks assumed by the developer in the agreement include (1) being held responsible for the entire grant sum should he default in any way on his part of the bargain and (2) assuming responsibility for any constitutional challenges against this innovative form of economic incentive.