By Cara L. Dempski
ELK MOUND – The Commission met April 14 to discuss and act on preliminary project plans and the plat for the proposed Settlers Ridge Development on the southeastern corner of the village. The 337-acre parcel in question also will be recommended to the Village Board for rezoning from agricultural use to multifamily homes and single-family homes. According to a map attached to the notice for public hearing for the meeting the development will be bounded on the north by US Highway 12, and on the south by Interstate Highway 94. Sean Lentz of Ehlers and Associates explained that the first phase of the project will be 84 multi-family homes. Lentz also said the first phase will be under construction starting this year and through 2025. He also indicated the developer has committed to generating at least $8 million in additional taxable revenue by January 1, 2026. It was also reported during the meeting that full buildout of Tax Increment District two is expected to create $79 million in taxable revenue.
The Plan Commission met after the conclusion of a Joint Review Board meeting; the Joint Review Board is comprised of representatives for all the bodies who will receive tax monies from the district.
After voting to make recommendations to the Village Board, the Commission adjourned without discussing or scheduling any future meetings.
