Variances / Relief Granted:
- Site Size: .44 acres
- Builder received multiple variances
- Builder was 15 parking spots short
- Could have built 17 units as of right, got approvals to build 26 units, an extra 9 units
The numbers below reflect ONLY the EXTRA revenue for additional units granted.
7 – 1 bedroom @ $2,400 – $201,600 per year
2 – 2 bedroom @ $3,400 – $81,600 per year
$283,200 per year
Builder Revenue over 10 years = $2,832,000
One time payment for Parking Variance: $10,000
Village revenue: $9,000 per year
Village revenue over 10 years = $90,000
Worst part of this project is the village was supposed to negotiate with land owner. He received almost 3 million in extra rent over 10 years. He was also supposed to give us a piece of his property to allow for much needed green space. This was right in the master plan!
To view the Board’s vote and decisions on this application, please download PDF below.