Quote:
Originally Posted by VKChaz
Do you know what happens after that? For example, does construction need to be begin/finish by a certain point in order to maintain the exemption?
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No, construction start has nothing to do with it. Projects/rezoning requests must be introduced to City Council by October 15th and approved within 9 months of that date.
Likely most of these applications will be deferred while developers hash out the specifics of the project with aldermen and community groups. Assuming they can reach agreements with the community within 9 months, the rezoning will be approved and developers can proceed with the project under the old rules.
The difference between the new and old rules is $6000 per unit, so on this project, the developer stands to save just over $3 million by filing early. Not chump change...