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HomeMy WebLinkAbout1. COW Agenda 02/24/2015 COMMITTEE OF THE WHOLE A G E N D A Meeting Location:Meeting Date and Time: Mount Prospect Village HallTuesday,February 24, 2015 50 S. Emerson7:00 p.m. I.CALL TO ORDER -ROLL CALL Mayor Arlene A. Juracek Trustee Paul HoefertTrustee Steven Polit Trustee John KornTrustee Richard Rogers Trustee John MatuszakTrustee Michael Zadel II.APPROVAL OF MINUTES OF THE COMMITTEE OF THE WHOLE FOR FEBRUARY 10, 2015 III.CITIZENS TO BE HEARD IV.REAL ESTATE TRANSFER TAX DISCUSSION The real estate transfer tax has been in place since 1987 and is assessed upon the buyer at a rate of $3 per $1000 of sale value. Mount Prospect has always been one of the few communities that levied the tax upon the buyer. For example, of the 78 communities that levy real estate transfer taxes 60 of those communities levy the tax upon the seller. Furthermore, of the four neighboring communities that levy the tax in our immediate area none of them levy the tax upon the buyer. Beginning in 2009 with provisions mandated as part of the federal act entitled the Act (Red Flag Rules) and state requirements Fair and Accurate Credit Transactions relating to the Act, the process for issuing a real estate Freedom of Information transfer tax stamp has become extremely cumbersome. The current process followed in issuing a transfer stamp has been relatively unchanged since its inception. Efforts to comply with the new regulations have been integrated into this existing process. As a result, issuing a transfer stamp has become awkward and customers may experience unnecessary delays. After a review of internal procedures, and gathering input from transfer stamp customers including property owners, real estate agents and attorneys, staff has identified where changes could be made to the current process to improve efficiency for the customer without impacting the revenue generated or compromising internal controls. Village staff will be on hand to facilitate the discussion regarding a staff recommendation to change the responsibility of the real estate transfer tax to the seller. 1 Strategic Plan Goal: Governance – Fiscal Health: Maintain a solid fiscal position through active stewardship of Village finances. Quality Service: Provide high-value, relevant municipal services. V. 2015 COW TOPICS Staff has compiled the topics submitted by the elected officials, staff, and department directors to suggest a tentative schedule for the upcoming calendar year. The proposed schedule is attached along with the topics that were submitted. A couple of topics will need additional direction to ensure that efficient staff research is undertaken to present to the Village Board recommendations that are of sufficient quality to allow for a robust discussion and ultimately direction to staff. Each topic to be discussed will fall under a particular principle of the Strategic Plan and will be identified as such as each topic is presented for discussion. Strategic Plan Goal: Governance – Leadership: Ensure policies are responsive to changing local and regional dynamics. VI.VILLAGE STRATEGIC GOALS UPDATE Village staff has been integrating the Strategic Goals into overall departmental objectives within the following areas: 1) Budget; 2) Committee of the Whole topics; and, 3) Department Director department/staff development plans with measurable success factors. This integration is being undertaken in a step by step manner so that as staff becomes more familiar with applying the goals as part of typical operations such strategic thinking will be routine and part of the natural decision making process. This progress has been purposeful as to not overload staff with implementation processes and all strategic goals and objectives are considered on an equal basis with no more effort devoted to one particular area of focus over another. This update is only presented as informational at this stage and if there are areas in which the Village Board would desire additional effort focused toward any strategic goal staff would be open for further discussion. VII.MANAGER’S REPORT Status VIII.ANY OTHER BUSINESS IX.ADJOURNMENT NOTE:ANY INDIVIDUAL WHO WOULD LIKE TO ATTEND THIS MEETING BUT BECAUSE OF A DISABILITY NEEDS SOME ACCOMMODATION TO PARTICIPATE, SHOULD CONTACT THE VILLAGE MANAGER'S OFFICE AT 50 SOUTH EMERSON, MOUNT PROSPECT, ILLINOIS 60056, 847/392-6000, EXTENSION 5327 2