HomeMy WebLinkAbout06/07/2001 EDC minutes MINUTES
ECONOMIC DEVELOPMENT COMMISSION
2nd Floor Conference Room, Village Hall
Thursday, June 7, 2001
8:00 a.m.
The meeting of the Economic Development Commission (EDC) of the Village of Mount Prospect was held on
Thursday, June 7, 2001 in the second floor conference room of Village Hall, 100 South Emerson Street, Mount
Prospect, Illinois.
CALL TO ORDER
Chan'man Norm Kurtz called the meeting to order at 8:00 a.m. Commissioners John Amdt, Pat Biedar, Kevin
Davies, Bruce Gillilan, David Lindgren and Ben Trapani were present, Also present were William J. Cooney,
Director of Community Development, Michael Blue, Deputy Director of Community Development and Madeleine
Franklin, Executive Director of the Mount Prospect Chamber of Commerce.
APPROVAL OF MINUTES
The minutes of the April 5,2001 meeting were reviewed and approved unanimously.
OLD BUSINESS
Status Update
Mr. Cooney distributed the most recent Economic Development Update to the Commission for their review. Mr.
Cooney discussed several potential changes to the Mount Prospect Plaza that include the possible relocation of
Domiinck's and the addition ora new Sears Appliance Store. In addition, Mr. Cooney provided updates for the
AutoBam, CVS Pharmacy Shopping Center, Randhurst Commons Shopping Center and various other
developments around town.
Mr. Davies provided a brief update on the status of Randhurst. He indicated that they were working closely with
a possible replacement for the Wards' site and felt they may have more news within the next thirty days. Several
members expressed their concern with the status of Randhurst and how the property would be marketed in the
short tenn.
NEW BUSINESS
Downtown Update - Norwood Builders
Mr. Cooneyintroduced Diane Warty, Director of Marketing for Norwood Builders. Mr. Cooneyindicated that
Ms. Wat~ was present to provide a general update on their projects and provide an overview on how well sales
of the condominiums and retail spaces were going. Ms. Watry handed out marketing brochures to the EDC
members and explained the status of the Residences at Village Centre and the Lofts and Shops projects. She
stated that sales were moving along very well for the fn'st building of the Residences and that they were 60% sold.
She stated that they hope to complete Building ~2 by the end of the summer and begin sales shortly thereafter.
She stated that the Residences project would be completed by the end of 2002. Ms. Wat~ also indicated that
there was strong interest in the approximately 20,000 s.£ of retail space that is available in the Lofts and Shops
project and that they had preliminmy discussions with the Comer Bakmy and Chili's Restaurant chains to anchor
that center. She indicated that the condominiums at the Lofts and Shops would sell for a higher price than the
Residences because they will be higher-end units. She stated that she expected sales to start at over $200,000
Economic Development Commission
June 7, 2001 Minutes
Page 2
for those units.
The Commission members asked several questions relating to the project, regarding sales prices and
demographics. After much discussion, Chairman Kurtz thanked Ms. Warty for her presentation and asked that
she provide future updates as the projects move forward.
OTHER BUSINESS
Mr. Cooney indicated that staff would be meeting later that day with representatives from IDOT to discuss the
intersection of Rand Road, Rte. 83 and Kensington Road. He stated that the state had allocated $5 million
towards the reconflgaration of that intersection to improve traffic flow. He stated this would be the first of
several meetings with IDOT representatives to address this problem intersection.
Mr. Cooney also indicated that Mayor Farley, Madeleine Franldin, Suzanne Mas6 and he had conducted three
retention visits in the past several weeks. He stated that they had visited El Sombrero, Novak-Parker and the
Mount Prospect Child Care Center. He stated that these were very beneficial meetings with the owners and he
encouraged the EDC members to participate in future visits. Chairman Kurtz asked if these visits would be at
regular intervals. Ms. Franldin said the goal was to hold them on the second Thursday of the month.
CHAIRMAN'S REPORT
Chan'man Kurtz indicated at the previous meeting that the EDC had briefly discussed the concept of the Village
Hall project and the need for a referendum to move forward with this program. There was general discussion by
the EDC members and concurrence that Mr. Kurtz should send a letter to the Mayor and Trustees to indicate that
EDC would support building the Village Hall without a referendum. Mr. Kurtz indicated he would draft a letter
and e-mail to everyone for their review prior to sending it to the Board.
ADJOURNMENT
The meeting was adjourned at 9:10 a.m. The next meeting will be held on September 6~.
Respectfully submitted,
William J., Cooney, Jr., AICP
Director of Community Development