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Proposal - Perry Copeland, attorney, presented the petitioners requests. The <br />project included the development of approximately 75 acres. 19.1 acres to single <br />family dwellings, 21.8 acres to multiple dwellings, 12 acres to town house. <br />development, 13.2 acres to commercial development and 2.18 acres to limited <br />business. <br />People`- Mr. Copeland said that the 391 apartment units would bring in approximately <br />899 people with an average of 2.3 persons per unit. 98 town houses at 3.2 people <br />per unit would bring in 313 people. 70 homes with 5 persons per unit would bring <br />in 350 people. Total project would bring in 1,562 people. If all homes were <br />constructed the total project would bring in 1,352 people. <br />Taxes - 391 apartment units would have a market value of $5,865,000.00. The town <br />houses would have a market value of $2,940,000.00. The homes would have a market <br />value of $2,100,000.00. Commercial area would have a market value of $2,125,000.00 <br />and the limited business area would have a commercial value of $1,000,000.00. Total <br />market value of the project $14,155,000.00. Full and true $4,900,000.00. Assessed <br />value $1,960,000.00. Using the current mill rate the Village would take in from <br />the project $45,080.00. The school district would take in $466,480.00. <br />Schools - The number of school age children per unit would range from .1 to .16. <br />The apartments would bring in 51 school age children. The town houses 98 children. <br />Homes, 140 children. Total 290 school age children. Cost of educating one child <br />$600.00. Total cost of educating all the children in the project $174,000.00. This <br />would be $292,480.00 less than the school taxes it would produce. School net loss <br />$86,000.00 per year if all homes were constructed. <br />Streets - 19 blocks of residential streets would have to be constructed if the land <br />was not rezoned. If the land is rezoned only 6 blocks would have to be constructed. <br />Connection Charges to Sewer - NSSSD would get connection charges totaling $116,000.00, <br />for the proposed project. <br />Mr. Copeland stated that the soil and subsoil was bad in some of the area. He said <br />there was a ditch running through the property which would interfere with the <br />economic use of the property for single family homes. Also recreation was provided <br />for by the development. Mr. Copeland concluded his proposal. <br />