The Arlington Heights housing commission will evaluate the Arlington 425 project again Monday, with the village board set to take a final vote on the massive downtown development a week later, officials said Friday.
The special housing panel meeting, scheduled for 6 p.m. Monday in the first floor Buechner Room of village hall, comes after days of further negotiations between developer CCH, LLC, and village staff.
Charles Witherington-Perkins, the village's director of planning and community development, said Friday that CCH officials are now "generally in agreement" with village staff's recommendation that 18 of the development's proposed 361 units be rented at below-market rates, and that they be priced for those making at or below 60% of the area median income.
CCH previously sought an 80% standard. It would've been the difference between a single person making $35,580 in a year and one making $47,400. Monthly rent for a studio apartment would be either $889 or $1,185.
Both sides have also agreed on a plan to allow the developer to offer fees to a village housing trust fund in lieu of nine units at $25,000 per unit, for a total of $225,000. The plan also calls for preference for the less-costly units be given to current Arlington Heights residents, veterans and employees of local businesses or organizations.
The housing commission, which is appointed by the mayor and village board to evaluate the housing mix in multifamily developments of six or more units, delayed a recommendation to the board on Arlington 425 following a lengthy meeting last Monday, when commissioners sought more in-depth financial information on the proposed $150 million redevelopment.
Witherington-Perkins said village staff has received limited confidential financial information from the developer, but those details haven't changed his staff recommendation. The housing commission could endorse that plan, or recommend something else to the village board, which has final say.
While the village board is also scheduled to meet Monday night -- an 8 p.m. meeting when newly elected trustees Mary Beth Canty and Tom Schwingbeck will be sworn in -- the board will not vote on Arlington 425 until a special meeting tentatively set for May 13, Witherington-Perkins said.
The three-building residential and commercial campus is proposed for the northern three-quarters of the vacant parcel bounded by Campbell Street, Highland Avenue, Sigwalt Street and Chestnut Avenue.