Council adopts CRA date amendment for proposed Swan's property development
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Summary
Ordinance 16-2020, adopted April 3, 2020, authorizes the village administrator to amend and restate a Community Reinvestment Area (CRA) agreement with FC Realty LLC to change project dates for the Swan's property development because of pandemic-related closing delays.
Unidentified Speaker 1 introduced Ordinance 16-2020, which authorizes the village administrator to amend and restate a Community Reinvestment Area agreement with FC Realty LLC to provide a real property tax exemption pursuant to the village's existing CRA. The chair described the change as a date modification to accommodate delays caused by the COVID-19 pandemic: "Because of closing delays and now delays caused by the pandemic, it's just delayed everything...the agreement is simply changing the dates," the chair said.
Council moved to suspend the three readings; a motion and second were recorded and roll-call votes were taken. The chair declared, "Ordinance number 16 20 20 has been adopted." The adoption was presented as a procedural amendment to align project milestone dates with the realities of pandemic-related delays.
Why it matters: the CRA amendment preserves the village's previously approved tax-exemption framework for the proposed development at the old Swan's property on Red Bank Road, while adjusting the statutory dates in the agreement so the project can meet newly delayed timelines.
What remains unspecified in the transcript: the transcript records that the village solicitor (referred to informally as 'mister Abus') reviewed and approved the agreement as a date modification, but the adopted ordinance text and any new milestone dates are not printed in the meeting transcript.
Provenance: topicintro: SEG 430; topfinish: SEG 459.
