Pingree Grove, developer finally approve deal

After three years of negotiations, Pingree Grove and Cambridge Homes have finally approved an agreement on the so-called ninth amendment, a document that hashes out what the developer will do for Pingree Grove.

“Nobody got what they really wanted it's just one of those deals,” said Village President Wyman “Clint” Carey. “Times have changed and the housing market is tough and we had to ... make sure Cambridge was a viable builder here in our community for the long term.”

Cambridge Homes is now called DR Horton Inc. and, as part of the deal, the Libertyville-based developer responsible for Pingree Grove's exponential growth will:

Ÿ Donate $2.1 million to the village for intersection improvements at Reinking Road and Route 72 that include traffic signal installation and widening the roads for traffic;

Forward $600,000 to the village for future water system improvements. The developer also will donate land for the water system's eventual expansion as well as engineering drawings it prepared to devise a new well field on the village's north side.

Ÿ Donate $200,000 within 30 days of the agreement's approval to pay for outstanding public safety and village operating fees. In exchange for the donation, Pingree Grove would forgive the $1.2 million in impact fees the developer owes the village.

Ÿ Bequeath 47.6 acres of open space to Pingree Grove for park use in a future neighborhood, give six acres of right-of-way along Route 72 to the village for future road improvements and donate a site for a future fire station near Route 72 and Reinking Road.

Ÿ Not require new businesses to pay water and sewer system recapture fees to the developer on annexed property. The developer spent millions of dollars on building infrastructure for the current system and wanted businesses to pay a percentage of that. Now, the developer will only require an initial tap-on fee for the service. This was the single item that delayed talks for three years, authorities said. “That was huge,” Carey said, adding that the recapture fees would have stalled commercial development.

The village board approved the document last week.

Authorities have taken to calling it the ninth amendment as it has gone through nine revisions.

Messages left for both Jerry Conrad, senior vice president of DR Horton Inc. and President Paul Ivers were not returned.