Ordinance Proposing the Establishment of a Special Service Area #17 in the Village of Lake Zurich and Providing for a Public Hearing and Other Procedures in Connection Therewith for Canterbury Estates at 80 Genesee Street, Block G (Assign Ord. # 2020-07-373) (Trustee Beaudoin)
Summary: Special Service Area #17 is being setup as a backup SSA for the proposed Canterbury Estates development containing 40 townhouses along the north side of Route 22, just west of Old Rand Road. This proposed SSA is for the maintenance, repair, reconstruction and replacement of the stormwater and detention management improvements and the private roadways located within the development site. This backup SSA was required as a condition within the Development Agreement between the Village of Lake Zurich Jade Development for the redevelopment of the property.
This SSA will allow the Village to assess a tax, in the future and only if necessary, on the property owners of the townhouses within that subdivision to pay for maintenance and repairs to the storm water management facilities and the private roadways, and only in the event the subdivision’s Homeowners Association (HOA) is delinquent in fulfilling these obligations. No levy of taxes is proposed at this time.
Ryan Homes, represented by Mr. Scott Shelton and Jade Development, owned by Mr. Gregory Schwermer, plan to undertake a joint venture for the development of the Subject Property, wherein the land will be developed by Jade Development and include the private roadway, access to IL Route 22, installation of utilities and construction-ready building pads; and Ryan will complete the Development through the construction of the townhouse buildings on the pads.
State Statute requires a comment period of 60 days following the adjournment of the proposed public hearing. Within that period, the proposal for the SSA may be vetoed by a petition of 51 percent of electors and owners of record of the property. If vetoed, the proposal for the SSA may not be re-proposed by the municipality for two years. If no such petition is filed, the Village Board will be required to adopt an “Establishing Ordinance” for the special service area.
Recommended Action: A motion to approve Ordinance #2020-07-373 Proposing the Establishment of a Special Service Area Number 17 in the Village of Lake Zurich and Providing for a Public Hearing and Other Procedures in Connection Therewith for Canterbury Estates at 80 Genesee Street, Block G.