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HomeMy WebLinkAbout04/28/1981 FC agendaVillage of Mount Prospect 100 S. Emerson Mount Prospect, Illinois 60056 FINANCE COMMITTEE AGENDA April 28, 1981 TRUSTEE'S ROOM I. Call to Order II. Roll Call III. Items to be discussed A. Liquor License Application. Mr. Joseph Cicerchia has requested the Class W license currently being held by Carl's Pizza. Mr. Cicerchia is hoping to assume the pizza operation at 712 Northwest Highway. The Health Department and the Police Department have both reported that there are no problems with this application. B. 1981 Tax Levy. Attached is a copy of the pro- posed 1981 Real Estate tax levy. The levy will be reviewed by the Committee and presented at the first Board Meeting in May. Although this timing is unusual, it will be necessary to pass the levy before the library tax anticipation notes can be issued. Mrs. Peppler will update the committee on the progress of issuing those notes. VILLAGE OF MOUNT PROSPECT REAL ESTATE TAX LEVY AND RATE COMPARISON Library: Operation & Maintenance .1688 $ 479,980 .1846 $ 531,223 .1942 $ 611,920 .2300 $ 795,800 I.M.R.F. .0133 37."E3 .0158 45,577 .0164 51,575 .0188 65,000 Working Cash - - - - - - .0500 173,000 Library Total -lS21 $ 517,843 .2004 $ 576,800 .2106 $ 663,495 .2988 $1,033,800 GRAND TOTAL 1.5760 $4,479,124 1.2760 $3,670,489 1.2839 $4,044,412 1.5503(A)$5,364,140 Equalized Assessed Valuation $284,342,798 $287,801,066 $315,000,000(C) $346,000,000(C) (A) Will be reduced approximately 9% by the County Clerk to compensate for Corporate Personal Property Tax. This reduction will lower the Village tax rate to approximately 1.2347 and the total levy to 1.5312. (B) Amount has been adjusted to compensate for Corporate Personal Property Replacement Tax to be received. (C) Estimated. 1978 1979 1980 1981 Actual Actual Estimated Proposed Rate Amount Rate Amount Rate Amount Rate Amount General Corporate .5024 $1,426,550 .2081 $ 598,342 .3175 $1,000,000 .4191 $1,450,000 Garbage .2898 824,000 .2892 831,931 .2564 807,700 .3179 1,100,000 Capital Improvement .0471 133,900 .0465 133,900 .0324 102,000 .0376 130,000 I.M.R.F. - General .0662 188,155 .0710 204,043 .0649 204,500 .0754 261,000(B) G. 0. Bond & Interest .2471 702,504 .2197 632,114 .1832 577,259 .1839 636,280(A) Police Pension .1044 296,922 .1040 299,167 .0963 303,307 .0897 310,557(8) Firemen's Pension .1369 389,250 .1371 394,192 .1226 386,151 .1279 442,503(6) Village Total 1.3939 $3,961,281 1.0756 `'3,993,689 1.0733 $3,380,917 1.2515(A � 4,330,340 Library: Operation & Maintenance .1688 $ 479,980 .1846 $ 531,223 .1942 $ 611,920 .2300 $ 795,800 I.M.R.F. .0133 37."E3 .0158 45,577 .0164 51,575 .0188 65,000 Working Cash - - - - - - .0500 173,000 Library Total -lS21 $ 517,843 .2004 $ 576,800 .2106 $ 663,495 .2988 $1,033,800 GRAND TOTAL 1.5760 $4,479,124 1.2760 $3,670,489 1.2839 $4,044,412 1.5503(A)$5,364,140 Equalized Assessed Valuation $284,342,798 $287,801,066 $315,000,000(C) $346,000,000(C) (A) Will be reduced approximately 9% by the County Clerk to compensate for Corporate Personal Property Tax. This reduction will lower the Village tax rate to approximately 1.2347 and the total levy to 1.5312. (B) Amount has been adjusted to compensate for Corporate Personal Property Replacement Tax to be received. (C) Estimated. VILLAGE OF MOUNT PROSPECT COOK COUNTY. ILLINOIS LOCAL LIQUOR CONTROL COMMISSION APPLICATION FOR RETAIL LIQUOR DEALER'S LICENSE RENEWAL / DATE NEW 1/ Honorable Carolyn H. Krause, Village President and Local Liquor Control Commissioner Village of Mount Prospect, Illinois Pursuant to the provisions of the Municipal Code of Mount Prospect of 1957, known as Section 13.103, passed by the Board of Trustees of said Village on the 15th day of January, 1957, as amended, regulating sale of alcoholic liquors in the Village of Mount Prospect, County of Cook, State of Illinois: T� n� A / AJ C D���� 0,q e L The undersigned,_R , hereby makes application for a Class VV liquor dealer's license for the period ending April 30, 19,' Y, and tenders the sum of $/&oro R' , the prescribed fee as set forth in the following: SCHEDULE OF ANNUAL FEES FOR THE SEVERAL CLASSES OF RETAIL LIQUOR DEALERS' LICENSES (Section 13.106): Annual Fee CLASS A: Retail package and consumption on premises $2,000.00 CLASS B: Consumption on premises only $1,500.00 CLASS C: Retail package only $1,500.00 CLASS D: Non-profit private clubs, civic or fraternal organizations; consumption on premises only $ 300.00 CLASS E: Caterer's license $1,500.00 CLASS L: Late Hour license $2,500.00 CLASS M: Hotels, motels, motor inns, motor lodges; retail package and consumption on premises $2,500.00 CLASS P: Retail package - refrigerated and non - refrigerated beer and wine only - no nnnciimntinn nn nromi coc Cl )Qn nn respectfully requests permission to operate a retail liquor business at ,-T'/-+wXLI6g--/cv,4 Mount Prospect, Illinois. Description and Name of Premises: C,9 l2 L S 19l Z-2!-- L 2/ A d- �`��.v 7 - (Description (Description must be complete as to floor,'frontage, etc.) Name of Owner of Premises:— i C_ K N7 o Al D / LES If Owner of record is a land trustee, attach copy of Land Trust Agreement. If not Owner, does ap 1icant have a lease?Y25-s State date applicant's lease expires :HAf-c{} Ytf If not Owner, attach copy of lease hereto. Is applicant an individual, corporation a co -partnership, or an association? (Circle one) If an individual, state your name, date of birth, address, telephone number and Social Security Number: If co -partnership, state name, date of birth, address, telephone number and Social Security Number of each person entitled to share in the profits thereof: If a co -partnership, give the date of the formation of the partnership: If a corporation, give state and date of incorporation: If a corporation incorporated in a state other than the State of Illinois, indicate date Qualified under Illinois Business Corporation Act to transact business in Illinois: If a corporation, give names, addresses, dates of birth, telephone numbers, and Social Security Numbers of officers and directors. Also list the names addresses, dates of birth and Social Security Numbers of shareholders owning in the aggregate more than 5% of the stock of such corporation. NAME C p1-1 etc �/'`cH1A Date of Birth: /2---1V6 1 v 1 OFFICE and/or ADDRESS PERCENT OF STOCK HELD 2-z-7 HT, Pc9P,-=-c;. P%C-5/,0067M4�o Social Security #3Z--16':-` 73 Phone // c3%- 7-763 Date of Birth: Social Security # Phone # n,kic,rtc fnr w1iirk rv-noni-7atinn i s fnrmari• oP6-K,1 TG- /\-C-/4/L J 1? ?_4 9-fic- If an individual, a co -partnership, a corporation or an association, has the applicant or any of the partners, incorporators, directors, officers, agent, or stockholders ever been convicted of a felony or a misdemeanor? ;�O If so, explain: If applicant is an individual, state age: Marital Status: Hff12,41C!6 Is applicant a citizen of the United States? VE C'If a naturalized citizen, state date and place of naturalization: /. o p_.cJ i-iia-� e H ca,i CL. How long has applicant been a resident of Mount Prospect, continuously next prior to the filing of this application? /76.6_ Local Address: .-,_2,7 14 47 -c-E,y AU G� Telephone No .L.�9 - 72-- State Z State character or type of business of applicant heretofore: State amount of goods, wares and merchandise on hand at this time: `- f � % 0-C How long has applicant been in this business? 1JE ew_ P, Is the applicant an elected public official? N'G If so, state the particulars thereof: Is any other person directly or indirectly in applicant's place of business an elected public official? No In the case of an application for the renewal of a license, has the applicant made any political contributions within the past 2 years? If so, state the particulars thereof: Does the applicant hold any law enforcement office? jJe If so, designate title. Does the applicant possess a current Federal Wagering or Gambling Device Stamp? �jo If so, state the reasons therefor: Has applicant ever been convicted of a gambling offense as presented by any of subsections (a) (3) through (a) (10) of Section 28-1, or as prescribed by Section 28-3 of the "Criminal Code of 1961" as heretofore or hereafter amended? No If so, list date(s) of said conviction(s): Is applicant qualified to receive state and federal license to operate an alcoholic liquor business?YC- S Has applicant ever had a previous license revoked by the federal government or by any state or subdivision thereof? �,f c) If so, explain: Is applicant disqualified to receive a thing construed by this ordinance, the ordinances of this Village? license by reason of any matter or laws of this state or other Does applicant agree not to violate any of the laws of the State of Illinois, the United States of America, or any of the ordinances of the Village of Mount Prospect in the conduct of his place of business? y es Does applicant currently carry Dram Shop Insurance coverage? IV ILL If "Yes," attach copy. If applicant is not the owner of the premises, does the owner thereof carry Dram Shop Insurance coverage? Y —C (If the answer to either of the foregoing questions is "No," no license shall issue.) Does surety bond required by ordinance accompany this application at the time of filing? __yam 5 State name and address of each surety next below: Give name, address, date of birth, telephone number and Social Security Number of manager or age t -in ms harof prempasess for which this application is made: .CSI \ `2��� Z 7 Y,4T6-1�5-xj v t SIGNATURE OF APPLICANT Corporate Seal (If applicant is corporation) Who, first being duly sworn, under oath deposes and says that he is/aq�p the applicant for the license requested in the foregoing application; that he is/ of good repute, character and standing, and that answers to the questions asked in the foregoing application are true and correct in every detail. STATE OF ILLINOIS ) SS. COUNTY OF COOK ) Subscribed and Sworn to before me this day of ,A.D., 19 �� This Application must be accompanied by a Surety Bond in the form attached hereto. BOND OF RETAIL DEALER IN ALCOHOLIC LIQUORS KNOW ALL MEN BY THESE PRESENTS: That of the City of , County of and State of hereinafter called the Principal, and of the City of , County of and State of hereinafter called the surety, are held and firmly bound unto the Village of Blount Prospect, a municipal corporation, in the sum of ONE THOUSAND DOLLARS ($1,000), for the payment whereof to the said Village of Mount Prospect, the principal and said surety bind themselves, their heirs, executors, administrators and assigns jointly and severally firmly by these presents. Signed, Sealed, and dated this day of A.D., 19 WHEREAS, the above named principal has been granted a license as an alcoholic beverage dealer under the provisions of an ordinance of the Village of Mount Prospect, entitled: "An Ordinance Relating to Malt and Vinous Beverage Dealers and 11egulating and Licensing the Sale of Certain Beverages," passed by the Board of Trustees of said Village of Mount Pros- pect on the seventh day of April, A.D. , 1934, as amended thereafter, and approved by the President of said Village on the Seventh day of April, A.D. , 1934, which license will expire on the thirtieth day of April, A.D. , 19 NOW, THEREFORE, the condition of the foregoing obligation is such that if the said principal, his agents and employees, shall comply with all the provisions of said ordinance hereinbefore described, and any and all other ordinances of said Village and laws of the State of IIlinois, now in force and which may hereafter be in force in said Village relating to the operation of the business of an alcoholic beverage dealer, as defined in said ordinance; and if said princi- pal, his agents or employees shall not violate said ordinance or any ordinances, rules or re- gulations now in force or which may hereafter be in force in said Village affecting the opera- tion of said business, then this obligation shall be void; otherwise it shall remain in full force and effect. Signed, Sealed and Delivered By: Kv%rl /v �} ll\)Q, (SEAL) in the Presence of: P I8/,4 Prin6'uJR L i S V / Z 2 /g , (SEAL) BY: (CIL'C-Lei"�'``! (�EAL STATE OF ILLINOIS ) SS. COUNTY OF COOK ) I, �'� ((- (_7c,.,- X K_ , A Notary Public in and for said County in the State aforesaid, DO HEREBY CERTIFY That r (�/� �' /'C and who are personally known to me to be the persons whose names are subscribed to the foregoing instrument, appeared before me this day in per- son and acknowledged that _he_ signed, scaled, and delivered the said instrument as -- free and voluntary act for the uses and purposes therein set forth. SAFECO INSURANCE COMPANY OF AMERICA GENERAL INSURANCE COMPANY OF AMERICA FIRST NATIONAL INSURANCE COMPANY SRFEC® OF AMERICA a+ HOME OFFICE: SAFECO PLAZA SEATTLE, WASHINGTON 98185 Bond N° 4180145 LICENSE OR PERMIT BOND KNOW ALL B Y THESE PRESENTS, That «ve, Rutina Inc. DBA Carl's Pizza as Principal, and the SAFECO INSURANCE COMPANY OF AMERICA, a Washington corporation, as Surety, are held and firmly bound unto Village of Mt. Prospect as Obligee, in the sum of One Thousand and no/100-------------------------Dollars ($ 1,000-00 ------- ) for which sum, well and truly to be paid, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. Sealed with our seals, and dated this 31st day of March ,1981 THE CONDITION OF THIS OBLIGATION IS SUCH, That IVHEREAS, the Principal has been or is about to be granted a license or permit to do business as Liquor License by the Obligee. NOW, THEREFORE, if the Principal well and truly comply with applicable local ordinances, and conduct business in conformity therewith, then this obligation to be void; otherwise to remain in full force and effect. PROVIDED, HOWEVER: 1. This bond shall continue in force: ® Until March 31 , 19 82 , or until the date of expiration of any Continuation Certificate executed by the Surety OR Until canceled as herein provided. 2. This bond may be canceled by the Surety by the sending of notice in writing to the Obligee, stating when, not less than thirty days thereafter, liability hereunder shall terminate as to subsequent acts or omissions of the Principal. Rutina Inc. DBA Carl's Pizza Principal �c,O�GQCaY 0 Rgp��`0,�, -- SEAL SAFECO INSURANCE COMPANY OF AMERICA .n y sl 1953 9lEOFWASN�N�' By Denise Holdeutan Attorney -in -Fact L� POWER OF ATTORNEY SAFECO KNOW ALL BY THESE PRESENTS: SAFECO INSURANCE COMPANY OF AMERICA GENERAL INSURANCE COMPANY OF AMERIC HOME OFFICE: SAFECO PLAZA SEATTLE, WASHINGTON 98185 6169 No. That SAFECO INSURANCE COMPANY OF AMERICA and GENERAL INSURANCE COMPANY OF AMERICA, each a Washington corporation , does each hereby appoint -----------------------------------DENTSF, EOLDEMA'111 ------------------------------ its true and lawful attorneys) -in -fact, with full authority to execute on its behalf fidelity and surety bonds or undertakings and other documents of a similar character issued in the course of its business, and to bind the respective company thereby. IN WITNESS WHEREOF, SAFECO INSURANCE COMPANY OF AMERICA and GENERAL INSURANCE COMPANY OF AMERICA have each executed and attested these presents this 10th day of September , 1980 CERTIFICATE Extract from Article VI, Section 13, of the By -Laws of SAFECO INSURANCE COMPANY OF AMERICA and of GENERAL INSURANCE COMPANY OF AMERICA: ACKNOWLEDGMENT BY SURETY STATE OF Illinois ss County of Cook On this 31st day of March 1981 , before me personally appeared Denise Holdeman , known to me to be the Attorney -in -Fact of SAFECO INSURANCE COMPANY OF AMERICA, GENERAL INSURANCE COMPANY OF AMERICA, FIRST NATIONAL INSURANCE COMPANY OF AMERICA or SAFECO NATIONAL INSURANCE COMPANY, the corporation that executed the within instrurnent and acknowledged to me that such corporation executed the same. IN WITNES§ WHEREOF, I have hereunto set my hand and affixed my official seal, at my office in the aforesaid County, the day and year in thi-,` ;ertificate first above written. Notary Publit in the State of (Seal) County of S 230 R4 6.'78 - - PRINTED IN U.S.A. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the facsimile seal of each corporation this 31st day of March 81 19 NORTH WEST FEDERAL SAVINGS P Z-2 710 No.A 10220177.., AY TO Inc i/ 81 ;1 ? ORDER OF N O R T H W E S T= ±") # :7 '00"�-= FEDERALSAV. DRAWN ON k;, T �r HARRIS TRUST & SAVINGS BANK SE n - CHICAGO, ILLINOIS X. 2— is RO REGISTE13 CHECK IREcMECKER REGISTER CHECK Q ' 111110220071"� 1:0 7 1000 2881. 03-390-C3 29-1,11 12 PAY TO THE H 1 0 1 ORDER OF i Yci"� hORTHhd i.:5 1'�,NiP 4W%�) x FEDERAL'SAV. �'• - 111 s�s n•s�'-'txy'� +=� -'�..A1. 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'r""tr. ;c f �. �'��� �.T►�.r �;_ ��� � �a:.�►•�,4,•:.,_�:-•�-r�6'��• •.�r l �, 'r •_ r:wi `�'c+ '' : � :i'. ?` � ``.{ '<" '' `ar '�" � - ' � ! _ ryc.l-.ti'. f. :v _'"'•�-•' s� r�•�� �'��rt. w--'�fit��W++'�C�y��.,J l i�9i. L W i.+�Ir+r S:' ►a+.:s� •�.v+�•.... _ r �.ir�a �.. •i^r.ywT i.•.<.. w..��i .. � ; �a�+�• "Fr}"1'e+'ie„gyp#���2��s^+�,�g�r„�o..,.-'' '[�+s&t- '� -. '-t,�r-�:::.R- i _ g r � � ��=r � roe•. �x v-',�-,'�'a�x�-s"'..�y,. ---••�"�-i 4 -�„d,� _�§-� ,� �.R� ”' -� �a�c�-�t�^ 'aT!'► �7 . . �.. •'�••1.t 1� . 4. � ? -`. ;a.C_� - ^^�?.-...c��C].I•'Y+_?I� t_ 3F��T�" !i.��•i_" T�"ti '7E'� _ � s#!4��_ �.. � _ . se villa-ge 6f Mount Prospect Mount Prospect, Illinois INTEROFFICE MEMORANDUM TO: Mayor Board of Trustees FROM: Village Manager DATE: June 153. 1979 SUBJECT:. Finance Committee Meeting The Finance Committee Meeting of4Wednesday, June 13, 1979, was held at the Board Room on Northwest Highway at 8:00 PM. The Chairman of the Committee, Mr. Miller, is reviewing the minutes of that meeting this weekend and they should be available for distribution -on Monday. At the Finance Committee Meeting, decision was reached to recommend to the Mayor and the Board of Trustees to proceed with the next step in pursuing the commercial industrial revenue bond issue for the K -Mart Development. To aid you in.discussing the matter.at Tuesday's Board meeting., I have called from the documents the attachments.included-with'this memo•. I believe that these attachments are in substance the general intent and workings of the proposed issue. If .you have any questions, please do not hesitate to call my office. Terrance L. Burghard� TLB: j cc - Dick Jesse Bill Tanker Ed Geick B . Roll call C . Items to be Discussed: 1. Commerical Revenue Bond Request Representatives for the proposed K -Mart development are petitioning the Mayor and Board of Trustees to consider issuing commercial revenue bonds. This matter was heard by the previous Finance Committee and at that time, the outgoing Committee members were reluctant to make a final determination. Attached is information prepared by Mr. Garfield to cover the general description of the proposal, examples of enabling legislation, and an opinion from the petitioner relative to the impact on our bond rating. Finally, the Village Manager has asked the petitioner to prepare data showing the projected long term costs to the developer when issuing revenue bonds as opposed to traditional financing. At the previous Finance Committee meeting, the administration had indicated a potential need for oversizing water mains on Rand Road. Since that time, final flow tests and re-evaluation by the staff indicates that there may be alternative ways to eventually provide more water flow. The staff will be prepared to comment at the time of the meeting. 2. Extended Insurance Coverage Attached for your review are two proposals for extended general liability insurance coverage. As you know, the Village joined �H�`1.15515q CAROLYN H. KRAUSE mayor m o TRUSTEES GERALD L. FARLEY LEO FLOROS EDWARD J. MILLER NORMA JRAUSKIS E. F. RICHACHARDSON Village of Mount Prospect THEODORE J. WATTENBERG 100 S. Emerson Mount Prospect, Illinois 60056 DONALD W. GOODMAN village clerk TERRANCE L. BURGHARD Phone 312 / 392-6000 village manager AGENDA FINANCE COMMITTEE Wednesday, June 13, 1979 8: 00 P.M. **BOARD ROOM** 112 East Northwest Highway A. Call to Order B . Roll call C . Items to be Discussed: 1. Commerical Revenue Bond Request Representatives for the proposed K -Mart development are petitioning the Mayor and Board of Trustees to consider issuing commercial revenue bonds. This matter was heard by the previous Finance Committee and at that time, the outgoing Committee members were reluctant to make a final determination. Attached is information prepared by Mr. Garfield to cover the general description of the proposal, examples of enabling legislation, and an opinion from the petitioner relative to the impact on our bond rating. Finally, the Village Manager has asked the petitioner to prepare data showing the projected long term costs to the developer when issuing revenue bonds as opposed to traditional financing. At the previous Finance Committee meeting, the administration had indicated a potential need for oversizing water mains on Rand Road. Since that time, final flow tests and re-evaluation by the staff indicates that there may be alternative ways to eventually provide more water flow. The staff will be prepared to comment at the time of the meeting. 2. Extended Insurance Coverage Attached for your review are two proposals for extended general liability insurance coverage. As you know, the Village joined Page 2 of 3 IRMA effective June 1, 1979. The IRMA policy under General Liability, covers all claims on 'an occurence' basis. Our previous General Liability coverage was placed through Governmental Insurance Exchange (GIE) and this was on a'claims made' basis. Therefore, from July 14, 1978 to June 1, 1979, any situations which may give rise to a claim but which have not been reported would not be covered by our current IRMA policy or the terminating GIE policy. In order to maximize the coverage to the Village, it is recommended that we consider buying a special policy, commonly referred to as "tail liability", to cover that period from July 14, 1978 to June 1, 1979. Since Mr. Radtke was the broker under the GIE policy, we asked him to quote an extended coverage and his letter is attached. Additionally, the Village Manager asked our current broker, A. J. Gallagher & Co., to canvass the market for a carrier other than GIE - attached is their proposal. The Village Manager recommends that we accept the proposal from A. J. Gallagher & Co. 3. Business License Fees Attached are business license fee schedules from Arlington Heights, Des Plaines, Elk Grove Village, and Mount Prospect. The Committee Chairman asked that we review our business fee schedule. 4. Micro Film Equipment Purchase Last fiscal year the Board budgeted a particular amount to initiate micro -filming for an improved storage system. This equipment was purchased from 3-M Company after price quotes were solicited from several other companies. At that time, the matter was presented before the Finance Committee and subsequently before the Village Board for bid waiver. This fiscal year the Board appropriated funds for micro -film readers. Following prior procedures, the administration is asking the Finance Committee to recommend to the Board that the bid requirement be waived and authorize the acquistion of reader printers from the 3-M Company. Current costs are $4,978.35 for the reader printer, $1,640.59 for another reader, and $38.00 for delivery charges for a total cost of $6,080.94. Our current budget estimates a cost of $5,647. 00 , this budget short fall can be covered by other line items within that program. Page 3 of 3 5. Board of Trustees' Committee Structure Mayor Krause has requested that the Finance Committee review our entire Committee structure. There are no written descriptions of the duties, assignments, or scope of work for each of the Committees. Attached for your information are Section 2.204 and 2.205 of the Municipal Code, also attached for your review is the most recent issue of the various charges before our Committees. D . Other Business E. Adjournment Village of Mount Prospect "" ^ 100 S. Emerson r Mount Prospect, Illinois 60056 COMMITTEE REPORT. TO: Mayor $ Board of Trustees FROM: Trustee Leo Floros, Chairman, Finance Committee SUBJECT: Finance Committee Meeting 1-25-79 DATE: January 31, 1979 Present: Chairman L. Floros; Trustee E. F. Richardson; Village Manager T. Burghard, Finance Director R. Jesse, Deputy Finance Director W. Tanker, Finance Commission Chairman J. Ronchetto Low Interest Mortgage Program: The Committee concluded its study of the proposal that the Village issue municipal revenue bonds for the purpose of providing low interest mortgage funds for home buyers in Mount Prospect. The Committee voted 2-0 to reject the program in the belief that there was insufficient interest in the program and that this type of financing was not in the best interests of the Village. Liquor License Request - Foremost Liquors - 102 W. Northwest HiQhwav: Representatives of Foremost Liquors, the designer, developer, and applicant (H & I Liquors, Inc.) appeared before the Committee to request the issuance of a Class C license for a proposed package liquor store at the former Wille Lumber property at 102 W. North- west Highway. The proposed 7,000 sq. ft. store would be located at the north of the new Aldi's Discount Food store. A restaurant is to be opened alongside (to the east) of.the proposed liquor store. Representatives of Foremost said they believed that a package goods store at this location would gross about $3 million dollars per year. Trustee Richardson voted in favor of granting the liquor license. Trustee Floros opposed on the grounds that there are already seven package goods store in the Village; one of them (Mt. Prospect Liquors) is located less than two blocks away at Central & Main Street. Auditors Report: The Committee reviewed, with representatives of the auditing firm of Touche Ross & Company, the 1978 audit and the auditors' letter of comments and recommendations. The Committee also received from Financ.e Director Richard Jesse a written response to the various items contained in the auditors' comments and recommendations, Some of the recommendations already have been implemented. None of the problem areas appear to be of a serious nature. The Committee, as well as Finance Commission Chairman Jack Ronchetto and the Village Manager, expressed concern with the tardiness of the letter of comments and recommendations. The letter was completed approximately seven months after the end of the fiscal year, and two months after completion of the audit. Representatives of Touche Ross & Company