Officials believe a large lakefront parcel for sale on Lochland Road could generate hundreds of thousands of dollars in property taxes if redeveloped to its full potential, but a rezoning will be needed to make that happen.
A rezoning will take place but not at the accelerated pace Geneva City Councilor Ken Camera wants.
On Wednesday night, City Council unanimously approved spending up to $80,000 to revamp the city’s archaic zoning code, which was adopted more than five decades ago.
However, after much debate, Council opted not spend an additional $21,000 that would have fast-tracked a zoning change for a district along Lochland Road (Route 14) where the Geneva American Legion parcel is for sale.
The 13-acre legion property is on the market for $3.35 million, and it’s anticipated that it could be turned into a property worth millions of dollars if it is developed for high-density, high-end housing.
However, the land is currently zoned for agricultural/residential use, which would not allow such a redevelopment in one of the city’s most desirable areas.
The legion property sits just north of Belhurst Castle.
Camera said he supports spending the additional money to do a rezoning of the property for a planned urban development use, either ahead of a citywide zoning or in tandem.
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