Variances / Relief Granted 2014:
- 32 parking required
- 1 loading space
- Extra apartments – requested = 6
- 17 parking granted – short 15 spaces
- No loading space
Builder came back in 2018 and got approval changed to keep 6 apartments on Main Street. Those additional rents are not calculated in my 10 year Proforma.
Variances / Relief Granted 2018:
- 6 additional apartments – originally turned down
- No additional Parking
The numbers below reflect ONLY the EXTRA revenue for additional units granted.
6 units @ $2,300 = $165,600 per year
10 years @ same rent = $1,656,000
Builder paid 1 time fee of $5,000 for relief of parking
If the board followed the code, it can waive up to 90%. Even so the minimum payment should have been $7,500
$1,000 per month for 10 years = $10,000 total
1 time parking relief payment = $5,000
Village Revenue over 10 years = $100,000
To view the Board’s vote and decisions on this application, please download PDF below.