HomeMy WebLinkAbout09/21/2004 CS minutes ,7-777 =1 IAL
MAYOR VILLAGE MANAGER
Gerald L. Farley Mourn Prospect
Michael E. Janonis
TRUSTEES P VILLAGE CLERK
Timothy J. Corcoran Velma W. Lowe
Paul Wm. Hoefert
''
Richard M. Lohrstorfer ' Phone: 847/392 -6000
Michaele W. Skowron �
Fax: 847/392 -6022
Irvana K. Wilks www mountprospect.org
Michael A. Zadel Village of Mount Prospect
50 South Emerson Street Mount Prospect, Illinois 60056
MINUTES
CLOSED SESSION
SEPTEMBER 21, 2004
The Closed Session was called to order at 8:50 p.m., by Mayor Farley, in the Village Hall Executive
Conference Room, 50 South Emerson Street. The purpose of the Closed Session was to discuss
Property Acquisition. Present were: Trustees Timothy Corcoran, Paul Hoefert, Michaele Skowron
and Irvana Wilks. Absent from the Closed Session were: Trustees Richard Lohrstorfer and Michael
Zadel. Staff present included: Village Manager Michael Janonis, Assistant Village Manager David
Strahl and Community Development Director William Cooney.
Property Acquisition
Extension of TIF District
Village Manager Janonis stated that there has been some discussion with School District 57 QA
regarding possible extension of the existing TIF District and the inclusion of the Bank One property B
and Central Plaza. He stated the discussion centered on the option defined as the "Lombard" option mi \J
where the Village could guarantee certain returns to the School District whereby they could obtain
some revenue. The School District representatives were receptive to the concept and will be
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discussing the concept at their Board meeting on October 7. The expanded TIF area would include E a
the Bank One building, Central Plaza and the small triangle which is already included in the existing Q Q
TIF area. He stated the "Lombard" option is a newer phenomenon which the Village could a el
undertake.
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Bank One Parking Lot Purchase
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The purchase is expected to close within 30 days and the RFP regarding redevelopment of the E \
property should be sent out soon after. c3",
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Adjournment 0
There being no further discussion, the Closed Session adjourned at 10:00 p.m. and moved into
Open Session at 10:00 p.m., moved into open session and immediately adjourned from open
session at 10:01 p.m.
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