Loading...
HomeMy WebLinkAbout11/02/1995 EDC MinutesMINUTES ECONOMIC DEVELOPMENT COMMISSION Second Floor Conference Room, Village Hall Thursday, November 2, 1995 8:00 A.M. The regular meeting of the Economic Development Commission of the Village of Mount Prospect was held on Thursday morning, November 2, 1995 in the second floor Conference Room at the Village Hall, 100 South Emerson Street, Mount Prospect, Illinois. The meeting was called to order at 8:00 a.m. by Chairman John Riordan. Members present were: Bruce Gillilan, Norman Kurtz, Brian McCarthy, and Chairman John Riordan. Members absent were: Ben Trapani and Dale Jessie. Also present were William J. Cooney, Director of Community Development; David A. Hulseberg, Deputy Director of Community Development and Jack Smith, Small Business Administration. APPROVAL OF MINUTES Mr. Riordan asked for any additions or corrections to the minutes of August 3, 1995. Norman Kurtz made a motion to approve the minutes as prepared. The motion was seconded by Bruce Gillilan and unanimously approved. OLD BUSINESS Mr. Cooney gave an update on the following businesses: Stimsonite, U.S. Robotics, Home Depot, General Cinema, and the Pontarelli residential projects. He indicated that several of these projects were currently underway and that work would continue through the winter months. Mr. McCarthy gave a brief overview of current leasing activities at the Randhurst Shopping Center. He stated the Home Depot would be holding its grand opening on November 15th and welcomed all Economic Development Commission members to this event. NEW BUSINESS Guest Speaker. Jack Smith Mr. Jack Smith, Illinois District Director of the Small Business Administration (SBA), gave a brief overview of current programs and projects that the SBA is undertaking. He indicated that the SBA has been much more active in recent years due to restructuring of the SBA organization. He also indicated that the paperwork required for an SBA loan had been significantly reduced which has been received positively by lending institutions. He stated that the SBA provides guarantees for loans for small businesses which enhance these businesses' ability to obtain loans from lending institutions. Mr. Smith fielded several questions from the Commission regarding SBA activities. Economic Development Commission Minutes Page 2 Economic Development Commission 1996 Budget Mr. Cooney stated that staff had submitted the 1996 budget for the Economic Development Program for Village Board review. He stated that they were requesting $25,000 for the 1996 calendar year. He stated that it was their intention to utilize these funds to produce a video on Mount Prospect to show to potential businesses. In addition, these funds would be utilized for marketing, advertising, conventions and trade show attendance. Mr. Gillilan made a motion to approve the proposed 1996 budget for the Economic Development Program. The motion was seconded. by Brian McCarthy and unanimously approved. .,�� �. Dave Hulseberg indicated that he had been working with the Chamber of Commerce in regards to • "Shop Mount Prospect" program. He stated that the Chamber is very interested in initiating such • program to increase consumer awareness of the benefits of shopping within the Village. He stated that the Chamber of Commerce was requesting $5,000 for seed money for this program from the Village and was requesting that the Economic Development Commission support this request. Much discussion took place regarding the merits of such a program. Mr. Kurtz made a motion to approve the Chamber of Commerce request for $5,000 in seed funds. This motion was seconded by Mr. Gillilan and unanimously approved. Community Development Open House Mr. Cooney welcomed all members of the Economic Development Commission to the first annual Community Development Open House on November 9th. He indicated that staff had invited members of all Village Commissions and the Village Board to this Open House. He indicated this would be an opportunity for staff and the commission and board members to meet each other in a social setting while also discussing issues affecting the Village. ADJOURNMENT The meeting was adjourned at 9:40 a.m. on a motion by Brian McCarthy, seconded by Norm Kurtz.