A statement describing the general character of the intended development along with such other information as would be pertinent to a determination as to the suitability and desirability of granting the proposed planned development on the particular site.

A general development plan of the project showing at least the following information and such additional information as may be required by the Plan Commission in a specific situation in sufficient detail to allow the Plan Commission and the Village Board to apply the criteria for approval as hereinafter set forth:

A general summary of financial factors such as value of structures, estimated improvement costs, amount proposed for landscaping and special features, estimated sale or rental price, and total anticipated development cost of the project.

The improvements to the subject property must include 250 or more residential dwelling units;

No more than one unit of average size on the subject property shall be used for commercial office purposes, and such office operations are restricted to the interior of said unit;

No exterior commercial sign(s) or interior sign(s) visible from the exterior shall be maintained on the subject property for the benefit of the commercial office purpose;

The proposed commercial office use must not be incompatible with the residential use of the subject property as determined by the Village Board;

The commercial office use must be owned and operated by the owner of the subject property;

The requested office use must be expressly provided for within the development agreement required under Subsection F of this section or an amendment to such agreement that sets forth operational limitations, including, but not limited to, hours of operation and number of employees.

That such development will create an attractive residential environment of sustained desirability and economic stability, compatible with the character of the Village and where the economic impact of the development in terms of income levels, property values, and service demands is substantially as beneficial to the community as that which could be anticipated under the basic zoning.

That the population composition of the development will not substantially alter adversely the impact upon school or other municipal service requirements as anticipated under the basic zoning.

That the project will not create traffic beyond the capacity of the street system to serve it, and shall provide adequate off-street parking based upon the need generated by the development.

That the total average residential density of the planned development based upon the specific design characteristics of the development proposed will be compatible with the previously stated criteria. Specifically, the allowable density for a given development shall be computed by dividing the gross area of the proposed development exclusive of existing public right-of-way by the appropriate density factor as follows:

Where the proposed development area includes more than one dwelling type, the density computation shall be made on the basis of the proportionate ratio involved. An increase in the computed allowable maximum density not to exceed 20% may be permitted as an incentive reward where in the opinion of the Plan Commission the character and quality of the development and of the amenities provided justify the additional density allowance.

That the plan would result in the preservation of open land in a manner which would enhance the total environmental setting and desirability of the development and compensate for any reduction in individual lot area requirements which are allowed.

That adequate guarantee is provided for permanent preservation of the residual common open land area resulting from the application of these regulations by private reservation, as an enhancement to the development.

The common open area to be reserved shall be protected against building development by conveying to the municipality as part of the conditions for project approval an open space easement over such common open areas restricting them against any future building or use except as is consistent with that of providing natural or landscaped open space for the esthetic and recreational satisfaction of the surrounding residences. Buildings or uses for noncommercial recreational or cultural purposes compatible with the open space objective may be permitted only where specifically authorized as part of the development plan or subsequently with the express approval of the Village Board following approval of building, site, and operational plans by the Plan Commission and the Building Board.

The care and maintenance of such common open space reservations shall be insured either by establishment of appropriate management organization for the project or by agreement with the municipality for establishment of a special service district for the project area on the basis of which the municipality shall provide the necessary maintenance service and levy the cost thereof as a special assessment on the tax bills of properties within the project area. In any case, the Village shall have the right to carry out and levy an assessment for the cost of any maintenance which it feels necessary if it is not otherwise taken care of to the satisfaction of the Village. The manner of assuring maintenance and assessing such cost to the individual properties shall be determined prior to the approval of the final project plans and shall be included in the title to each property.

Ownership and tax liability of private common open space reservations shall be established in a manner acceptable to the municipality and made a part of the conditions of the plan approval.

That the economic practicality of the proposed development can be justified on the basis of purchasing potential, competitive relationship and demonstrated tenant interest.

That the proposed development will be adequately served by off-street parking and truck service facilities.

That the locations for entrances and exits have been designed to prevent unnecessary interference with the safe and efficient movement of traffic on surrounding streets, and that the development will not create an effect upon the general traffic pattern of the area substantially incompatible with that anticipated under the basic zoning.

That the architectural design, landscaping, control of lighting, and general site development will result in an attractive and harmonious service area compatible with and not creating a substantially adverse effect upon the property values of the surrounding neighborhood.