HomeMy WebLinkAbout11/09/2016 COW Agenda r r
'�iCluc�e of�Ih71tl1YI av�pstl
ti
COMMITTEE OF THE WHOLE
AGENDA
IIII���� IIIIIIIIIII �°�Illh ����� ' �IIIIIIIII IIIIIIII�� IIII' ��'°'°u�"" ��° IIII VIII °°°'IIII°°"IIIIIIII�� '
Meeting Location: Meeting Date and Time:
50 S. Emerson Wednesday, November 9, 2016
Mount Prospect, I L 60056 7:00 PM
I. CALL TO ORDER- ROLL CALL
MayorArlene A. Juracek
Trustee Paul Hoefert Trustee Richard Rogers
Trustee John Matuszak Trustee Colleen Saccotelli
Trustee Steven Polit Trustee Michael Zadel
II. APPROVAL OF MINUTES
Approval of Minutes for the Committee of the Whole Meeting of June 14, 2016
III. CITIZENS TO BE HEARD
IV. PROPOSED PROSPECT AND MAIN TAX INCREMENT FINANCING DISTRICT
The Village is proposing to create the Prospect and Main Tax Increment Financing (TIF)
District that would include commercial properties along Prospect Avenue and NW
Highway and some properties that have been located in the Downtown TIF #1 District
but that have not benefitted from reinvestment.
The Prospect and Main TIF would provide the Village with an economic development
tool to encourage development on several key parcels in the downtown district and to
address many of the key recommendations in the Village's Downtown Plan. The key
parcels include the Busse Triangle, the NW corner of Central and Main, 105 S. Main, the
SW corner of Evergreen and Main, Chase Bank and the Parenti & Raffaelli block. In
addition the TIF would provide funds to stimulate private investment in existing
storefronts through the Fagade Improvement Program and a funding source for
infrastructure and streetscape enhancements in these areas.
Staff and the Village's TIF consultant (SB Friedman) will make a presentation
highlighting the many benefits that the Prospect and Main TIF would provide to the
community and address questions/concerns that have been raised by residents and
other taxing districts. The meeting will also provide interested stakeholders with an
opportunity to ask questions and raise any issues that they may have related to the
proposed TIF District.
V. DOWNTOWN INTERSECTIONS STUDY
The Village of Mount Prospect and the Illinois Department of Transportation have
conducted traffic signal timing analyses of certain downtown intersections including
Central Road & Northwest Highway, Central Road & Prospect Avenue, Central Road &
Main Street, Main Street & Northwest Highway, Main Street & Prospect Avenue, and
Emerson Street & Northwest Highway. The purpose of this analysis was to assess
performance and determine if there is a means to improve traffic flow.
This study also examined other downtown traffic related ideas including assessing the
feasibility of relocating the commuter train station, comparing downtown traffic flow with
similarly situated communities, analyzing the impact of closing Prospect Avenue at Main
Street, and summarizing the potential for constructing a coordinated downtown traffic
control system similar to Lake County Department of Transportation's PASSAGE
network.
Village staff and a representative from Sam Schwartz Engineering, the traffic consultant
that performed the study, will present these findings and facilitate discussion.
VI. MANAGER'S REPORT
VII. OTHER BUSINESS
VIII. ADJOURNMENT
NOTE.ANY INDIVIDUAL WHO WOULD LIKE TO ATTEND THIS MEETING BUT BECAUSE OFA
DISABILITY NEEDS SOME ACCOMMODATION TO PARTICIPATE, SHOULD CONTACT THE
VILLAGE MANAGERS OFFICE AT 50 SOUTH EMERSON, MOUNT PROSPECT, ILLINOIS 60056,
847/392-6000, EXTENSION 5327