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Developer asks Tilton trustees for $330,000 toward infrastructure for senior-housing expansion
Summary
A local developer who identified himself as Bridal Quick asked the board for TIF-funded infrastructure support for an 11-building, 33-unit senior-housing expansion; trustees moved to award up to $330,000 (roughly $30,000 per unit) and approved advancing the proposal with conditions tied to infrastructure completion and TIF/enterprise-zone timing.
Bridal Quick, a local property owner who identified himself during the meeting, outlined plans to add 11 three-unit buildings (33 apartments) as part of a senior-housing development and requested village help funding infrastructure costs so construction can proceed.
"So I'm going to be borrowing 6,000,000," Bridal Quick said, describing the financing pressure and arguing that completing roads and utilities now would reduce overall costs and allow the community center he envisions to be built later. He gave a bare-bones infrastructure estimate of about $7,000,000 and asked the board to allocate funds toward the road and utility work so he can complete multiple buildings at once.
Staff (S5) explained the TIF (Tax Increment Financing) and enterprise-zone interaction, noting the property is in TIF 1, which expires at the end of 2027; staff proposed allocating funds toward infrastructure work and, once the funded portion is complete, removing the parcel from the TIF so the developer could access enterprise-zone abatement for later phases. After questions about cash flow, maintenance and timing, a trustee moved to provide assistance at $30,000 per unit for up to 11 units (totaling $330,000); the motion passed on recorded vote.
The board tied disbursement to infrastructure milestones: staff recommended, and trustees accepted, paying toward roads, sewers and electric work once those elements were installed, with language to require refund if the project does not proceed to agreed milestones.
