Variances / Relief Granted:
- Site size: 3/4 acre
- Residential B District – NO apartments allowed
- Units per acre, no more than 20
- 2 ½ story or 30’ MAX
- 25 feet buffer between residential property
What builder got:
Board changed the village DMU code on March 2nd 2015, because building apartments on Residential B district was not permitted. Developer should have built 20 units to the acre, or 15 units as the site is ¾ of an acre. The board ALLOWED 40 units to the acre (Pretty good deal!) – ¾ acre would yield 30 units. And the Board voted to allow “Bonus Density”- an additional 12 units besides the entire 15 units he received by the changing of the code in 2015.
- Changed to 60 units to acre
- Height allowed to 38 feet (instead of 30)
- 2 feet set back granted
This is just the math on the 12 additional units. It could realistically be the extra 27 units!
8 – 1 bedroom @ $2,950 = $283,200
4 – 2 bedroom @ $3,800 = $182,400
$465,600
Over 10 years builder receive = $4,656,000
Village Revenue: $10,000 per year
Village Revenue over 11 years = $110,000
To view the Board’s vote and decisions on this application, please download PDF below.