East Dundee has amended its code and rezoned a Main Street property to allow for the expansion of a residential development.
Construction is expected to begin in September on two 18-unit apartment buildings at 855 E. Main St., according to village documents. Developed by Joe Billitteri of Billitteri Enterprises, the project mirrors two nearly identical structures recently completed on an adjacent lot at 811 E. Main St.
Early success with the first two buildings prompted Billitteri's plans for a second phase. The village board this week unanimously approved his request to rezone 855 E. Main St. from a service business district to a multiple dwelling district, and to update the village code to allow for more than one principal building.
Variances for the building height and parking layout also were given a green light.
In an agreement approved earlier this year, the village pledged to reimburse Billitteri for up to $390,000 using tax increment financing dollars to cover the costs of acquiring the land from PAR Development. In a TIF district, the property taxes that go to local governments are frozen at a certain level, and any revenues generated above that base assessed value can go back into redevelopment.
The deal also waives impact fees and water and sewer connection costs for the project. Its terms are similar to the village's initial offerings for the 811 E. Main St. development, though in that case, East Dundee donated the land.
Trustee Jeff Lynam voted against the initial redevelopment agreement, citing concerns over the fee waivers and the rate at which the village would be reimbursing Billitteri. But he supported the rezoning and other variances this week, saying it "brings us even" with the identical project next door.
"I wouldn't be in favor of it otherwise," he said. "I'm OK with working with any developer, but the village has got to get something in return."
The project aims to add rooftops near the downtown and attract residents who will frequent local shops and restaurants, Billitteri said.
The two new buildings -- an estimated $5.1 million investment -- are expected to have 24 one-bedroom and 12 two-bedroom units, officials said. They will operate under the same homeowner association as the first two structures.