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HomeMy WebLinkAbout09/22/2022 EDC Minutes MAYOR VILLAGE MANAGER Paul Wm. Hoefert Michael J. Cassady TRUSTEES VILLAGE CLERK Agostino S. Filippone Karen Agoranos Terri Gens John J. Matuszak Richard F. Rogers Phone: 847/392-6000 Colleen E. Saccotelli Fax: 847/392-6022 Michael A. Zadel www.mountprospect.org MINUTES ECONOMIC DEVELOPMENT COMMISSION Village Hall – 50 S. Emerson Street Thursday, September 22, 2022 8:00 a.m. The meeting of the Economic Development Commission (EDC) of the Village of Mount Prospect nd was held on Thursday, September 22in the third floor Executive Conference Room in the Village Hall, 50 South Emerson Street, Mount Prospect, Illinois. CALL TO ORDER Jim Drew called the meeting to order at 8:00 a.m. Commissioners John Healy, Dan Novak, David Roe and Tom Zander were present. Also present was Bill Cooney, Director of Community Development. APPROVAL OF MINUTES The minutes of February 24, 2022 meeting were reviewed and approved unanimously. CITIZENS TO BE HEARD No comments. OLD BUSINESS Development Update Mr. Cooney provided a brief update on various developments throughout the Village. NEW BUSINESS American Rescue Plan Act Update Mr. Cooney provided an updated on how the Village is using ARPA funds for 3 programs; the New Construction Job Retention and Recruitment Program, the Green Building Grant Program and the Website Development Program. He indicated that they just rolled out the first two programs and have received three applications for the website program to date. He stated that they had promoted the programs on the Village’s website, social media and e-mail blasts to Village of Mount Prospect | Page 2 Chamber of Commerce members. The Village will send out amailer to all businesses in town later this month to ensure that businesses are aware of the funds. South Mount Prospect Tax Increment Financing District Status Mr. Cooney explained that the Village approved the establishment of a new Tax Increment Financing (TIF) district that is located on the southern portion of the Village. He stated that the goal of the TIF was to establish an economic development tool to invest in the area. He indicated that the Village is proposing to invest over $4 million in this area in 2023 by installing new multi- use pedestrian paths along Algonquin Rd., watermains and road improvements throughout the area. The Commission discussed the proposed TIF and were encouraged with the Village’s efforts to invest in the southern portion of town. Business Visitation Program Mr. Cooney indicated that staff had reinstituted the Business Visitation Program this summer and that the EDC and staff have completed four visits to date. He asked the commissioners how staff could modify the program to enable the commissioners to participate fully in the visits. The group indicated that early morning visits were preferred so that they did not conflict with their work schedules. It was agreed that the goal for the EDC is to make at least two visits a month and to ensure that the visits were scheduled evenly throughout the Village. OTHER BUSINESS Chairman Drew suggested that the EDC focus on branding and marketing efforts that tout the recent developments throughout the community. He stated that he believes that the Village would benefit as prospective businesses and residents consider Mount Prospect as a place to locate. Mr. Cooney stated that the Village undertook a branding review back in early 2020 just before the pandemic started and that he would send the commission the final Branding Plan that the Village Board approved. Discussion to continue at the next meeting. ADJOURNMENT The meeting was adjourned at 9:20 a.m. Respectfully submitted, William J. Cooney Director of Community Development