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Berwyn council hears developer pitch, agrees to seek ordinance change for smaller apartment units
Summary
City staff described a redevelopment proposal that trims a requested TIF incentive to $1.2 million, proposes reimbursing property taxes during construction, and asks for waivers on parking and a loading dock; council directed the city attorney to draft an amendment to a 1953 local unit-size rule that requires 900-square-foot apartments.
Berwyn city officials on Monday heard details of a private redevelopment project that would use tax-increment financing and a local building-code change to allow smaller apartment units.
Dave Hulsberg, identified in the agenda as director of the Berwyn Development Corporation, told the Committee of the Whole that the developer originally sought $1,750,000 in incentives but BDC negotiations and a purchase-price payment of $350,000 reduced the proposed incentive to $1,200,000 plus interest. “First of all, that during the construction period, the property will be reimbursed the property taxes that it pays,”…
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