08/31/2026
More heavy reading for the last of August:
Here is my letter to the Champaign city planners concerning the proposed development credits.
Dear all,
I am struggling to understand the mechanics of the Development Credits which seem destined to be approved by the City Council this coming week. Upon first hearing the proposal, my mind went to the houses at Third and Healey streets whose owners could conceivably see a windfall. Using 301 East Healey as an example, here are my questions if I were the owner:
There is huge, untapped potential on my lot, how do I calculate the possible credits I could sell?
Would selling credits increase the property taxes at 301 E Healey?
How do I know if the offer I received is a good offer?
How do I seek competing offers? Will this involve a real estate agent?
This requires me as the hypothetical owner of 301 to file for landmark status within a certain number of days. My house seems simple, small, well loved, but nothing historic, no special architecture, nothing to rise to the level of landmark status, what happens then? Do I still get to sell my untapped potential?
In twenty years, I could sell my credits again??
For the developer:
I purchased the credits of 301 W Healey, and I want to build in Midtown, do I need City approval to extend upwards?
Is this change in height the only design change I have gained by purchasing credits?
If I don't use all my credits on this project, may I "bank" the credits for future development?
Does the purchase of the credits allow me to build a taller building perhaps near Holy Cross Church, in the old town, as a right?
If I buy the little house at 301, may I sell myself credits?
May I sell myself credits if one party of this transaction is an LLC?
Please, let's extend the example to a very real possibility:
There is a row of two-story homes as the Northern boundary of the So. State and Prairie PUD, on Clark street, and the small brick buildings which were retained along State street as more affordable housing. As the developer of the PUD, may I sell myself the credits on the small buildings on State? Could I purchase the credits on Clark to allow for taller building and then purchase the Clark street row and build taller, adjacent to the PUD, in essence giving myself credits?
Would the taller design be reviewed by the city or be mine by right?
I apologize for typing so late in the game, it has taken me quite some time to distill these concerns.
Sincerely,
Phyllis Williams
PACA Volunteer