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FY 17 Cleanup - 12 Explain your answer to the question above. Without DEED funding, The Village may be forced to reduce to the degree to which contamination at the property is cleaned up. Additional contaminated soil may be left on site, and this may necessitate a modification in the position and size of the proposed buildings, thus delaying the development and potentially reducing the number of housing units created and future tax capacity. Additionally, reducing the degree to which the property is cleaned up reduces the positive impact of the redevelopment on the community and increases the likelihood that contamination will need to be addressed during future modifications or redevelopments at the property. IV. DEVELOPMENT PLAN AFTER CLEANUP 35. Describe in detail the Development Plan for the site after implementation of the RAP? (Number of buildings or housing units, square footage, etc.). The Village intends to redevelop the property for residential use. Three residential buildings and 693 parking stalls will be constructed; one building (approximately 34,000 square feet in size) will support 61 units of independent senior living, one building (approximately 47,000 square feet in size) will support 128 units of assisted senior living, and one building (approximately 57,000 square feet in size) will support 146 units of market-rate housing and 79 units of affordable housing. Buildings will be three and four stories tall. Of the 693 proposed parking stalls, 407 stalls will be underground and 286 stalls will be surface parking. The project will incorporate sustainable features and activities into building construction, cleanup, and water usage whenever feasible. A stormwater management collection and treatment system is proposed through a system of curbing, catch basins, underground conveyance, ponding, and bio-retention. This includes traditional at-grade ponds and below grade bio- filtration systems. The Village was the primary interested party and conducted market analysis in order to determine that the property be used residentially after development. The property is currently zoned R-1 Single Family Residential and will be rezoned to Planned Unit Development to accommodate a more flexible, creative, and efficient approach to land use. Preliminary approval for the project was granted by the City on March 27, 2018. The community will derive benefit from the redevelopment because it will provide a large amount of quality, high-density housing to an in-demand and livable area of the City. Prior to acquisition of the property, the property supported a blighted mobile home park with ageing structures spread inefficiently across 15 acres. By redeveloping and remediating the property, there will be vastly more housing available and the housing will be free of possible influence from soil, soil vapor and groundwater contamination and therefore safer for residents. This redevelopment will also create a significant tax base increase and create jobs at the property. 64