CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
title
Pass the ordinance approving a second amendment to the site development agreement for the resubdivided South Forty Property
body
DEPARTMENT: Transportation, Engineering and Development
SUBMITTED BY: Jennifer Louden, Director of TED
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
The City is in the process of working with Gorman and Life Time Fitness (LTF) to complete certain work associated with the resubdivided portion of the City's South Forty property located at the southeast corner of Route 59 and 103rd Street.
The Resubdivision resulted in the creation of Lot 1, which was sold to LTF in July of this year for construction of a fitness facility. At closing, the City received approximately $6.6 million from LTF for the purchase price of its land and share of the stormwater management system and for reimbursement for certain utility improvements previously made by the City.
The Resubdivision also resulted in the creation of Lot 2 of which the City retains ownership; Lot 3 is under contract for sale to a subsidiary of Gorman known as Tower Court Naperville, LLC (or "TCN") to be developed for affordable housing for seniors and individuals with intellectual and developmental disabilities; and Outlot A, which will become part of a shared stormwater management system for Lots 1-3 and well as for two City-owned lots located on the east side of Tower Court which house Fire Station #6 and a Water Utilities water tank.
On April 15, 2025, the City Council passed an ordinance approving a Site Development Agreement with LTF for the resubdivided South Forty Property. The Site Development Agreement is needed to implement the consolidated stormwater management system by which each property owner funds an agreed upon share of the full site mass grading, construction of the shared stormwater detention basin and related facilities, installation of a lift station with associated storm sewer utilities, and construction of a nort...
Click here for full text