HomeMy WebLinkAbout06/19/2008 EDC minutes
MAYOR
lrvana K. Wilks
VILLAGE MANAGER
Michael E. Janonis
TRUSTEES
Timothy J. Corcoran
Paul Wm. Hoefert
Arlene A. J uracek
A. John Korn
Michael A. Zadel
Village of Mount Prospect
Community Development Department
50 South Emerson Street Mount Prospect, Illinois 60056
VILLAGE CLERK
M. Lisa Angell
Phone: 847/818-5328
Fax: 847/818-5329
TDD: 847/392-6064
www.mountprospect.org
MINUTES
ECONOMIC DEVELOPMENT COMMISSION
Executive Conference Room, Village HaJJ
Thursday, June 19, 2008
8:00 a.m.
The meeting of the Economic Development Commission (EDC) of the Village of Mount Prospect was
held on Thursday, March 20, 2008 in the third floor Executive Conference Room in the Village Hall, 50
South Emerson Street, Mount Prospect, Illinois.
CALL TO ORDER
Chairman David Lindgren called the meeting to order at 8:00 a.m. Commissioners, Ken Fritz and Tom
Lowe, Skip Robertson and Ben Trapani were present. Also present were Mayor Irvana Wilks, Bill
Cooney, Director of Community Development and Brian Simmons, Deputy Director of Community
Development.
APPROVAL OF MINUTES
The minutes of the March 20, 2008 meeting were reviewed and approved unanimously.
OLD BUSINESS
Development Update
Mr. Cooney provided an overview of the status of several developments throughout the village.
NEW BUSINESS
Randhurst Redevelopment Plan
Jim Conroy, Director of Development for Casto Lifestyle Properties, was introduced by Mr. Cooney.
Mr. Conroy presented several visual boards displaying the proposed redevelopment plan for the
Randhurst property. Mr. Conroy stated that his company was partnering with the current owner of the
property, JP Morgan/Chase, to reinvigorate Randhust Mall.
Mr. Conroy stated that the Mall is currently significantly vacant and that the trend in retail development
was the lifestyle center concept. Casto is proposing to demolish the existing mall structure and
construct a roadway through that area and develop a two-story retail/office development in its' place.
The new retail would be anchored by a state of the art AMC Movie Theater located at the east end of
the new roadway. Additionally, several new restaurant venues and a hotel would be located in the new
development.
Mr. Conroy indicated that Casto was also requesting the ability to develop rental housing in the
northwest corner of the property in the future where the Chase Bank office building is currently located.
Casto believes that adding residential units on the site would enhance the viability of the project.
The EDC discussed the project and had several questions of Mr. Conroy. The general consensus of
the commission was that the proposal would be a significant improvement over the current mall
configuration and that it would be an excellent addition to the business community in Mount Prospect.
CHAIRMAN'S REPORT
None
ADJOURNMENT
The meeting was adjourned at 9:00 a.m.
Respectfully submitted,
William J. Cooney, Jr., AICP
Director of Community Development
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