Loading...
HomeMy WebLinkAbout05/21/1990 MPDD agendaPhone: 708 / 392-6000 Fax: 708 / 392-6022 NOTICE OF MEETING NOTICE IS HEREBY GIVEN that the Mayor and Board of Trustees of the Village of Mount Prospect will meet on Monday, May 21, 1990 at the hour of 6:00 P.M. in the Trustees' Room, 2nd floor of the Village Hall, 100 South Emerson Street, Mount Prospect, Illinois. The purpose of this meeting is to discuss downtown development. pNQISMISS �5 � 4� MAYOR - GERALD L. FARLEY a;ul�..o., TRUSTEES, f RALPH W ARTHUR MARK W BUSSE TIMOTHY J.CORCORAN LEO FLOROS GEORGE R. VAN GEEM THEODORE J. WATTENBERG Village of Mount Prospect VILLAGE MANAGER JOHN FULTON DIXON VILLAGE CLERK 100 S. Emerson Mount Prospect, Illinois 60056 CAROL A. FIELDS Phone: 708 / 392-6000 Fax: 708 / 392-6022 NOTICE OF MEETING NOTICE IS HEREBY GIVEN that the Mayor and Board of Trustees of the Village of Mount Prospect will meet on Monday, May 21, 1990 at the hour of 6:00 P.M. in the Trustees' Room, 2nd floor of the Village Hall, 100 South Emerson Street, Mount Prospect, Illinois. The purpose of this meeting is to discuss downtown development. AGENDA DOWNTOWN MOUNT PROSPECT DEVELOPMENT STRATEGY SESSION Monday, May 21, 1990 6:00 p.m. - 10:00 p.m. Trustees Room, Village Hall 100 South Emerson Street 6:00 Box Supper 6:30 I. Opening Comments - Mayor Farley II. Introduction and Summary of Meeting Format by Jack Gourguechon III. Consensus on Subject Areas and Decisions to be made: A. Smaller Scale Development 1. Pine Street Site a. Initial Developer Interest b. Auto Dealership c. Furniture Warehouse and Resale d. Wholesale Bakery 2. TIF Block Main Street/Central/Wille a. Northwest Electric Supply Expansion b. Redevelopment of North end of block 3. Factors to be Considered a. Areas for Redevelopment - Limited to Village -owned properties already assembled on Pine Street and properties to be acquired north of Northwest Electric Supply b. Property Acquisition - Terrace Supply adjacent to Pine Street Properties and Medical Center Theatre, Body Shop and Service Station adjacent to the Northwest Electric in TIF block. c. Density and Scope - Density and Scope limited because of small parcel development especially on TIF Block. Disadvantage in both areas by not tying the areas together with one developer proposal or phased through land acquisition by Village. d. Factors to attract Developer Interest - Pine Street Site limited to adjacent Aldi property owner, TIF Block - None. Downtown Development Strategy Agenda Page 2 B. Large Scale Redevelopment 1. Areas for Redevelopment- Larger area would permit phasing and possibly more than one developer being involved in individual phases. 2. Property Acquisition - Would require more properties to be acquired over a longer period of time. 3. Expansion of TIF District - Would in the long -run provide more developer interest since the financing package would be more attractive and reduce the length of time to complete development. 4. Density and Scope - Would provide better buffering from surrounding developed areas and allow greater density and broader scope of development. 5. Factors to Attract Developer Interest - Larger area for more imaginative development with broader market potential for mixed use.