The city is giving an Elgin developer an extra four months to secure financing to build a senior housing project on the former Batavia Junior High School site.
The extension, to the end of October, was granted last week on an 8-3 City Council vote after it became apparent Leo Goldschmidt was not going to meet the June 30 deadline for getting financing required in the redevelopment agreement.
Most of the delay is being attributed to the city’s lengthy approval process for granting the zoning necessary to build the 174-unit apartment complex at Wilson Street and Illinois Highway 31.
“We’re making progress,” said City Administrator Ron Podschweit. “We just haven’t been able to settle on some of the features of the project.”
Still being hammered out are such details as the height of the building, its proximity to Illinois 31 and the amount and placement of parking.
Goldschmidt said he has potential financial backers lined up, but they are reluctant to guarantee the loans until the city approves the zoning and the project is assured of going forward.
