De Soto City Council agrees to development fee waiver package on proposed senior complex
After day after the De Soto City Council agreed to reduce a number of development fees, a developer said Friday he would start construction on a 180-unit senior housing project in 45 days.
John Glavin of Glavin Development said he sent a letter of intent to the property owner, the Brady Family Trust, Friday morning of his intent to purchase the land. The site is east of Lexington Avenue near Lexington Trails Middle School.
“The financing is in place,” he said. “I plan on putting concrete in the ground in 45 days. We’ll pour the foundations for the big buildings and pull permits for the small ones.
“We’re going to start to the machines rolling.”
The complex will have 48 units for of “college, villa, multiplex” living, 60 units for independent living, 40 units of assisted living and 30 units of memory care living, which Glavin explained would be a controlled environment for those in early stages of Alzheimer’s.
In addition, the complex will have a mini store, bistro, swimming pool and spa, Glavin said.
The project would be completed in September 2010, Glavin said.
There will be no longterm care home, but the site will have a 24-hour-a-day on-duty nurse, Zimmerman said.
Sought a Those included:
• A partial building permit and plan review waiver equally $38,000. The city would collect an estimated $30,000 from the fees.
• A partial water connection fee waiver of $108,450. The city would collect $115,680 from the fee.
• A partial sewer connection fee waiver of $165,300. The city would collect $148,800 from the fee.
• A water and sewer connection fee waiver on three larger buildings equaling $58,995.
• A 20 percent 10-year water and sewer rate reduction.
For more on the project, see the Aug. 13 De Soto Explorer or look for updates here.
The project would create 76 jobs, of which 38 would be full-time, Zimmerman said.
A cost-benefit analysis conducted by city consultant Kelsi Powell of Columbia Capital Management LLC found the city would break even on the project in nine years and benefit by about $37,000 in 10 years.
With no property tax abatements, USD 232 would see a $341,000 benefit the first year of the project and a $2.7 million benefit from its first 10 years, according to the analysis.
The council approved the fee waiver package 4-1. Councilman Mike Drennon voted no, concerned about the cost of the 20 percent water rate waiver.