By Kevin Boneske
HOWARD – Two motions to proceed with mixed-use development in the village center with 12 single-family homes and 52-54 condominium-style units were approved earlier this month by the village council.
The board of directors approved a development agreement between the village and Dan Schmidt of Green Viper LLC, which agreed to build the development on approximately 20 acres under the following conditions:
• The village will get four plots for development.
• The village will extend Howard Commons, Elm Tree Hill and the walking trail through the utility easement area. Utilities will be installed this year and roads paved so they will be completed in 2023 as soon as time permits.
• Green Viper LLC will guarantee the creation of over $ 20 million in new increments over the next six years.
• Green Viper LLC will pay the village $ 30,000 per single-family lot and $ 7,500 per condo unit when these units are sold.
Village administrator Paul Evert said the fiscal impact of the project, known as Howard Townhomes, includes the purchase of the land by the village for $ 2 million and public improvements estimated at around $ 2 million. of dollars.
Evert said the land purchases will be included in the Village Center’s future bond, while the American Rescue Plan Act grant money will help offset the cost of public improvements, with all remaining costs included in the future bond.
He said the single-family lots will be for sale when the developer builds homes there, while the condominiums in the project will be duplexes known as twindos.
To calculate the value the project would add to Incremental Funding District # 8, Evert said he conservatively estimated one side of a twindo at $ 325,000 and a single-family home at $ 350,000.
Council also approved the purchase of the four plots totaling approximately 20 acres for $ 2 million.
Evert said the purchase prices for plots with four different owners ranged from $ 770,000 for a 9,674-acre plot to $ 300,000 for a 1,974-acre plot.
“It’s been a long time for these people, as you can imagine,” he said. “We told them about the project, I think, in 2004, but we’re finally ready to go …”
Evert said the village was ready to complete the purchase of the four plots after board approval.