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| NewsTuesday, October 16, 2007 1:21 PM CDT |
Chatsworth housing development moving forward
CHATSWORTH — It’s been three years in the making, but a manmade lake and residential area south of Chatsworth is starting to become reality. Oliver’s Crossing, a 950-acre project, eventually will have a 300-acre lake with an 8,000-foot dam, a 37-acre island accessed by a covered bridge and 350 lakeside lots. Owner/developer Ken Kurtenbach talked about the plan to the Livingston County Board and how it ties with a countywide economic development plan. “I have been reading in the paper about the interest that the county has with economic development and we believe that this project will have a tremendous impact on economic development in Livingston County,” he said. “This is a really exciting project for the Chatsworth Township and the county will be benefiting from it as well.” Kurtenbach considered the subdivision three years ago after his family land flooded. Eventually, his idea grew to include the lake. Construction of the lake will start in the spring and is expected to last between four to six months. The plan is to build from 28 to 58 homes a year for 10 years. Jerry Kurtenbach, Ken’s brother and contributing land owner and developer, said numerous jobs will be created in the process. “With this pace, we would expect over 100 full-time construction jobs a year for the decade,” he said. “It has a direct effect to county development as it will offer these good paying construction jobs, and that only scratches the surface.” As of Monday, Ken Kurtenbach said soil borings were being done to make sure the land is stable enough for the dam. Jerry Kurtenbach said the project still needs the approval of the Illinois Department of Natural Resources. The area will be in a tax increment financing district, and Kurtenbach said developers are finalizing those arrangements. A tax increment financing district, or TIF district, diverts property tax revenue into a fund to help pay for redevelopment costs. |
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