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Mount Pleasant board approves Springs at Mount Pleasant development agreement with Continental 818 Fund LLC
Summary
The Village of Mount Pleasant board voted unanimously Jan. 20 to approve a development agreement for the Springs at Mount Pleasant project with Continental 818 Fund LLC; the project is in a TIF district and was recommended unanimously by the Planning Commission.
The Village of Mount Pleasant board voted 7-0 on Jan. 20 to approve a development agreement for the Springs at Mount Pleasant project between the village and Continental 818 Fund LLC.
The agreement was moved by Trustee Barr and seconded (second not specified on the record). The board took the vote by roll call: Karas, Doxey, Anastasio, Washburn, Bhatia, Venturini and DeGroot voted aye; the motion carried.
The development agreement had been discussed in the Committee of the Whole and in a closed session immediately prior to the board vote, and the Planning Commission had unanimously recommended approval. A trustee described the proposal as a familiar developer bringing a multifamily project to the area and said it is located within a tax-increment financing (TIF) district; the board did not specify final unit counts in the public record at this meeting.
Village legal counsel and planning staff were credited in the meeting for negotiating and shaping terms of the agreement: a board member thanked "Mr. Smith" for negotiations and noted planner "Mr. Schultz" had also worked on the item. The board did not state additional implementation steps or an effective date for the agreement during the public portion of the meeting.
The board approved the consent agenda earlier in the meeting and then took up this development agreement under new business. No public speakers on this specific agenda item were recorded on the transcript.
The board adjourned after approving the item.
