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Oswego Village Board to vote on acquiring former junior high for housing development · Kendall County News - Shaw Local

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  Speaker 1: Oswego Village Board to vote on acquiring former Junior High
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  Speaker 1: for housing development or waited. Written by Eric Shelkoff, This
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  Speaker 1: article is being read by an automated voice brought to
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  Speaker 1: you by Everlett. The Oswego Village Board is set to
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  Speaker 1: vote Monday on an agreement to acquire the former Chrauverer
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  Speaker 1: Junior High School property for two point one million dollars
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  Speaker 1: as part of a redevelopment agreement. The property, located at
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  Speaker 1: sixty one Franklin Saint near the intersection of Washington Street
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  Speaker 1: and US Route seventy one in Oswego, is in a
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  Speaker 1: tax increment financing district. When a municipality creates a tiff district,
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  Speaker 1: its property assessment is frozen and new or increased taxes
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  Speaker 1: generated by improvements are used to pay for improvements or
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  Speaker 1: other development incentives. While two dollars one million dollars is
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  Speaker 1: identified as the purchase price for the property, it is
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  Speaker 1: object to any purchase price adjustment authorized by the redevelopment agreement.
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  Speaker 1: Oswego Village Administrator Dan DeSanto said in a memo to
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  Speaker 1: village trustees. The intent is that the village will not
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  Speaker 1: be paying to acquire the site, but rather the developer
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  Speaker 1: will be paying for the property through tiff increment generated
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  Speaker 1: from the development. All expenses and revenues generated by the
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  Speaker 1: development between the three parties will be negotiated through the
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  Speaker 1: redevelopment Agreement and approved at a later date, the memo states.
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  Speaker 1: Oswego Village trustees in December unanimously approved a concept plan
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  Speaker 1: for a one hundred and sixty one unit apartment and
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  Speaker 1: townhouse development to be developed on the property. In response
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  Speaker 1: to village trustees voicing concerns about the height and density
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  Speaker 1: of the development, the developer scaled back the plans for
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  Speaker 1: trauber Estates. Trustees as well as Oswego Village President Ryan Kaufman,
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  Speaker 1: thought a five story building proposed as part of the
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  Speaker 1: plan was too tall, especially in comparison with the rest
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  Speaker 1: of the development. Building has been removed from plans and
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  Speaker 1: replaced with two three story apartment buildings. In addition, the
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  Speaker 1: number of units has been reduced from two thousand and
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  Speaker 1: two units to sixty one units. As proposed, five three
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  Speaker 1: story apartment buildings containing one hundred and twenty five units
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  Speaker 1: would be built as part of the latest plan. Also
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  Speaker 1: proposed our six to two story owner occupied townhouse buildings
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  Speaker 1: containing thirty six units. This is not my favorite project.
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  Speaker 1: Village trustee Karen McCarthy lying said, prior to voting to
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  Speaker 1: approve the concept plan, I don't want to stand in
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  Speaker 1: the way of helping the school district financially. It's not
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  Speaker 1: my ideal project. It's not as creative as I would
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  Speaker 1: have liked it. It's not as original as I would
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  Speaker 1: have liked. But I cannot in good faith stand in
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  Speaker 1: the way of saving the school district money and helping
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  Speaker 1: them in the long run. The building served as the
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  Speaker 1: original Traub Junior High School until the current Traver Junior
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  Speaker 1: High School was built in two thousand and eight. The
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  Speaker 1: property is twelve point thirty four acres in size, with
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  Speaker 1: the building sitting on four acres. The building hasn't been
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  Speaker 1: fully operational since two thousand and seven. District three to
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  Speaker 1: eight school superintendent and Dalid Colgotti said there were one
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  Speaker 1: hundred staff members in and out of that building every
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  Speaker 1: single day. He said. Kelgotti said the property has become
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  Speaker 1: an albatross around the district's neck. He said the district
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  Speaker 1: has to spend two hundred and fifty thousand dollars a
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  Speaker 1: year for its upkeep that does not include insurance costs.
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  Speaker 1: He said. A plan in twenty eighteen to turn the
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  Speaker 1: building into a senior housing complex fell through