HomeMy WebLinkAbout02/11/1981 FC minutesM I N U T E S
FINANCE COMMISSION
FEBRUARY 11, 1981
VILLAGE MANAGER'S OFFICE
The meeting was called to order by Chairman Jack Ronchetto
at 8:00 p.m.
Those in attendance were: Messrs. Buchhuber, Beier,
Hallman and Ms. Smilanic. Also present at the meeting
were: Terrance Burghard, Village Manager and Mr. James
Muldowney, President of Fletcher Engineering.
The Finance Commission reviewed some of the preliminary
data that had been submitted to them through the Village
Manager's office from Metcalf and Eddy and John Nuveen and
Company. This data attempted various alternatives to
demonstrate the cost impact by using distance in a formula
for the acquisition of Lake water through the Venture system.
The Commission felt that the Nuveen Report diminished the
impact that distance had in reality with the system and
Mr. Hallman had prepared his assessment of the alternatives
using data supplied by Metcalf and Eddy. Mr. Hallman noted
and the Commission concurred that if distance is an element
of the formula, the costs to the Village of Mount Prospect
will be less than the current estimates. The Commission felt
that in principle the matter of distance ought to be revived
by the Village Manager through the Venture Executive Committee
and by the Mayor through the Venture Board of Directors inasmuch
as it would be unfair in the Commission's mind to have Mount
Prospect residents pay for distance costs attributed to further
out communities.
Mr. Muldowney responded that there is no question that if
distance is used in the formula, there will be a distinct
benefit to the Village of Mount Prospect. He pointed out,
however, that there are other elements that might make it
disadvantageous to the Village of Mount Prospect. For instance,
cost of construction in crowded right of way, capacity,
and the recent decision of Buffalo Grove to terminate its
relationship with Venture.
General discussion ensued and all parties in the meeting
were in agreement that a distance factor would be beneficial
to the Village of Mount Prospect. Without taking a formal
position, the Commission reached the consensus and requested
that the Village Manager and the Mayor bring the matter of
distance back to the Venture group to see if it would be
possible to include that measure in the formula.
The meeting adjourned at 9:55 p.m.
JACK RONCHETTO