Wednesday, March 20, 2013
M/I Homes secured a contract to finish the 19 remaining lots at the stagnant Somerset townhome development.
Greg Collins, of M/I Homes, presented plans for finishing the long stagnant Somerset townhome development, at Lakeview and Main streets in downtown Lake Zurich, at Monday’s village board meeting. The previous developer, McCaffery Interests Inc., pulled out of the project in 2009, when the economy took a downtown and the developer ran out of money to complete the project. Collins told the board that the project would be finished to be consistent with the current design and architecture. The developer will make some minor changes. There are 19 remaining lots which consist of 12 vacant lots and a 7-unit building foundation. Collins said the units would be 1,600 to 2,200 square feet and would sell for $250,000 or more. Collins told the …
Thursday, October 25, 2012
Consultant recommends two-step process to find qualified developer for Block A.
Lake Zurich Village board members and staff gathered, Tuesday night, to discuss which direction to take to get downtown development back on track. See: Lake Zurich Downtown Development Consultant Lee Brown of Teska Associates recommended that the village start over with Block A, the village-owned Main Street site across form the Promenade, but this time take a more formal process to attracting qualified developers. “Our recommendation is that it is time to look at a way of building momentum, building success,” Brown said. Brown proposed a formal two-step process that begins with an RFQ, request for qualifications. Village staff and consultants would ask developers to provide their credentials and references. Brown said the previous …
Thursday, September 6, 2012
Downtown development discussed at Lake Zurich village board meeting.
Although downtown redevelopment was not on the agenda at Tuesday’s Lake Zurich village board meeting, it was heavily discussed by both residents, during public comment, and by trustees. Village board members listened intently while residents expressed frustration over the board’s decision on Aug. 20 not to choose from the four developers competing to develop Block A, on Main Street, and to move in a direction of selling downtown property. Some residents also expressed a desire to help the village move forward with downtown development. Paul Hunt described himself as the voice of younger demographics in town. He said he’s very happy living in Lake Zurich and he believes there are lots of opportunities for his children. However, he …
Monday, August 27, 2012
Terry Mastandrea explains why he voted against selling surplus downtown property.
When Trustee Terry Mastandrea, former Lake Zurich fire chief, was appointed to the Lake Zurich village board as an interim trustee, last September, the main reason he took on the responsibility was to help get downtown redeveloped, he said. At the Aug. 20 village board meeting, Trustee Terry Mastandrea was the only trustee to vote against the controversial decision to sell Lake Zurich downtown property, rather than choose from one of the four developers vying for the Block A parcel on Main Street. “I was furious. I couldn’t believe we were going down that path,” Mastandrea told Lake Zurich Patch. “This is the biggest decision the village faces and if we don’t get something going in the TIF district, we’re going to face higher taxes.” …
Village President Suzanne Branding says she understands residents’ frustration over changes in the direction of downtown development.
Village President Suzanne Branding continues to have numerous concerns over the village board’s recent decision to sell surplus Lake Zurich downtown property. “I’m just really surprised that five of six trustees jumped on board without doing the checking or background about this alternative,” Branding said. “It just came out of left field.” Branding said one of her concerns is whether the village can legally take properties that were condemned and put them on the market. She said the village attorney would need to give an opinion on that matter. Branding is also concerned that the properties purchased at the top of the market will sell for just a fraction of what the village paid for them. The village could also lose control over what …
Wednesday, August 22, 2012
Lake Zurich board agrees to sell surplus, village-owned downtown property instead.
Monday’s Lake Zurich village board meeting started with a call from residents to move forward with downtown redevelopment. Resident Dennis Abbott recalled days past when downtown was a vital, busy gathering place; he urged the board to eschew apartments and choose David Smith of Southshore as the developer. Chamber Director Dale Perrin urged the board to choose a development with commercial and retail. “Be bold; be daring,” Perrin told the board. However, Lake Zurich village trustees could not come to a consensus on a single developer for the village owned parcel on Main Street, that faces the Promenade and lakefront. After nearly two hours of discussion, the board determined to take a different route and start declaring vacant …
Wednesday, August 8, 2012
Lake Zurich trustees want more information before committing to developer for parcel across from The Promenade.
Lake Zurich village trustees agreed to delay committing to a developer of a village-owned, lakefront parcel on Old Rand Road, Monday night. Village board members also agreed, after Village President Suzanne Branding asked them to share their wish list for downtown, that they want a mixed-use development on the Block A site, which overlooks The Promenade and the lake. “I also feel strongly that the first floor needs to be a gathering point, a destination . . . when I look strictly at all apartments or all residential, I’m not too much in favor,” said Trustee Terry Mastandrea. He said he’d like to see coffee shops and cafes on the ground floor, a place for residents to enjoy the lakefront. John Breugelmans of ARDE told the board that …
Wednesday, July 25, 2012
The village board heard varied plans for downtown redevelopment in Lake Zurich's TIF district, Monday night, but no decision yet.
Lake Zurich wants to make its downtown a destination, and the sooner the better. As the village gets closer to a 2014 deadline to pay off its TIF debt, the board is eager to get going on a development that could bring revenue into the TIF district. Developers presented four distinct plans before the village board, Monday night. However a decision was tabled until the Aug. 6 meeting in order to give board members time to study the proposals. The four developers were: J. Moises Cukierman, John Breugelmans of ARDE, Richard Sova of Landover Corporation and David Smith of Southshore Real Estate. Smith was chosen as developer for downtown previously, but his contract was terminated when he was unable to meet the Jan. 1, 2011 deadline for …
Tuesday, April 17, 2012
Trustees voted to invite four potential developers to present plans for a portion of the downtown area by end of May.
The Village Board on Monday approved near-future presentations for four prospective developers who recently expressed interest in the redevelopment of downtown Lake Zurich. The issue came forth after all four developers — Richard Sova, John Bruegelmans/Lucien Lagrage, Moises Cokierman/Michael Laube and David Smith of Southshore Real Estate Development — sought out the village to express their interest in bringing their plans to downtown. All but Smith — formerly of Equity Services Group, whose downtown redevelopment contract the village terminated at the beginning of 2011 — are focused on and in close vicinity to the Block A redevelopment area. Block A includes fewer than two acres of land across from the promenade where the former JJ …
42.197432
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Lake Zurich Village Hall
70 E Main St, Lake Zurich, IL
/articles/intent-developers-breathe-new-life-in-downtown-redevelopment
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Friday, June 24, 2011
Village officials say financial assessment of district is needed to avert future tax levy hikes to cover debt payment increases.
Since Lake Zurich established the tax increment financing district in 2002, past and present Village Board have been unable to find the right developer to revamp the downtown area. With that history in mind, village officials are now pushing for a new plan and approach to achieve a successful downtown redevelopment project. At the June 20 Village Board meeting, Teska Associates was presented by administration as the final choice for a TIF consultant after months of vetting potential firms for the job. The decision was tabled, however, due to lack of a majority vote. Questions were raised about the timing and necessity of hiring another consultant. “We should be making sure this process makes sense, and the requirements and deliverables are…
42.197432
-88.091412
Lake Zurich Village Hall
70 E Main St, Lake Zurich, IL
/articles/trustee-concerns-halt-vote-on-new-downtown-tif-consultant
297312
/locations/4697100
Scott Garrison
4:49 pm on Monday, March 25, 2013
I am sick and tired of people that make comments and do not use their real names, no matter what the subject. I can find nothing credible with their comments. Scott Garrison more ›