For four years, the former Mill Race Inn site in Geneva has sat empty except for the remnants of a historic stone structure protected by a tarp.
It’ll stay that way — at least for now — after the city council rejected the latest development proposal for the prime parcel of land on the Fox River at Geneva’s eastern gateway.
At a meeting Monday, Geneva’s 10 aldermen voted unanimously to reject the proposal presented by the Shodeen Family Foundation, signaling the end of a $38 million project introduced nearly 18 months ago.
The proposed project called for 116 rental apartments, eight townhouses, 2,000 square feet of commercial space, 155 covered parking spaces, deconstruction and reinterpretation of the original historic structure to adhere to its landmark status, and riverfront amenities.
The decision will cost the city $273,000 — to come from tax increment financing funds — to cover all the expenses