HomeMy WebLinkAboutgr00090_000022_pg38Proposal - Perry Copeland, attorney, presented the petitioners requests. The
project included the development of approximately 75 acres. 19.1 acres to single
family dwellings, 21.8 acres to multiple dwellings, 12 acres to town house.
development, 13.2 acres to commercial development and 2.18 acres to limited
business.
People`- Mr. Copeland said that the 391 apartment units would bring in approximately
899 people with an average of 2.3 persons per unit. 98 town houses at 3.2 people
per unit would bring in 313 people. 70 homes with 5 persons per unit would bring
in 350 people. Total project would bring in 1,562 people. If all homes were
constructed the total project would bring in 1,352 people.
Taxes - 391 apartment units would have a market value of $5,865,000.00. The town
houses would have a market value of $2,940,000.00. The homes would have a market
value of $2,100,000.00. Commercial area would have a market value of $2,125,000.00
and the limited business area would have a commercial value of $1,000,000.00. Total
market value of the project $14,155,000.00. Full and true $4,900,000.00. Assessed
value $1,960,000.00. Using the current mill rate the Village would take in from
the project $45,080.00. The school district would take in $466,480.00.
Schools - The number of school age children per unit would range from .1 to .16.
The apartments would bring in 51 school age children. The town houses 98 children.
Homes, 140 children. Total 290 school age children. Cost of educating one child
$600.00. Total cost of educating all the children in the project $174,000.00. This
would be $292,480.00 less than the school taxes it would produce. School net loss
$86,000.00 per year if all homes were constructed.
Streets - 19 blocks of residential streets would have to be constructed if the land
was not rezoned. If the land is rezoned only 6 blocks would have to be constructed.
Connection Charges to Sewer - NSSSD would get connection charges totaling $116,000.00,
for the proposed project.
Mr. Copeland stated that the soil and subsoil was bad in some of the area. He said
there was a ditch running through the property which would interfere with the
economic use of the property for single family homes. Also recreation was provided
for by the development. Mr. Copeland concluded his proposal.