HomeMy WebLinkAbout04/06/1995 EDC MinutesMINUTES
ECONOMIC DEVELOPMENT COMMISSION
Trustees Room, Village Hall
Thursday, April 6, 1995
8:00 A.M.
The regular meeting of the Economic Development Commission of the Village of Mount Prospect
was held on Thursday morning, April 6, 1995 at the Village Hall in the Trustees Room, 100 South
Emerson Street, Mount Prospect, Illinois.
The meeting was called to order at 8:10 a.m. by Chairman James Ebbinghaus. Members present
were: Brian McCarthy, Ben Trapani, Norman Kurtz, Dale Jessie, Bruce Gillilan and Chairman
James Ebbinghaus. Member absent was: John Riordan. Also present were Mayor Gerald Farley;
William J. Cooney, Director of Community Development Department; Dave Hulseberg, Deputy
Director of Community Development; and Kenneth Fritz, Economic Development Coordinator.
APPROVAL OF MINUTES
Minutes of the March 2nd meeting were approved on a motion by Dale Jessie, seconded by Norman
Kurtz. The motion to approve the minutes passed unanimously, 6 ayes, 0 nays.
OLD BUSINESS
Review of Current Business Development Contacts
Sears negotiations with the DiMucci Development Company has stalled. According to the broker
from HSA, a response was promised by Rick Filler of DiMucci's firm well over a week ago. Mr.
Trapani offered to contact Mr. Filler to see if the Economic Development Commission could be of
any assistance.
It was initially reported that the Menard's Courtesy site would once again be activated for Menard's
use. Mr. Cooney indicated that within the same day we were informed that Menard's was to occupy
the space, we were informed that the lease to Wolffs Market Place had been extended another year
until the end of March 1996. We will continue to maintain contact with Menard's in an effort to
monitor this project.
AM Multigraphics' broker has identified a possible interest by AM Multigraphics in retaining
occupancy of some 200,000 square feet of manufacturing space at their present location.. They are
continuing to seek a buyer for the entire site. However, the possibility exists to lease out the balance
of the building and/or sell the balance of the property while maintaining a presence on 200,000
square feet of manufacturing space at the north end of the building complex on Arthur. Staff
continues to pursue other options in a study that is being prepared.
Illinois Range suspended manufacturing operations in the early part of March and is investigating
the possible sale of the property while looking to maintain corporate office space elsewhere in
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Mount Prospect. A more recent development has been identified that would allow Illinois Range
to maintain their present corporate office in the building and lease out the balance of the
manufacturing operation to a potential user such as a self - storage warehouse operation.
Trade Service Corporation, according to their broker, CB Commercial, are close to a sale of the
property.
Brian McCarthy gave the Commission an update on significant developments at Randhurst. He
indicated that the Jewel Food Store may soon make an announcement on plans to construct a new
Jewel at the present site. A new building would be constructed on present parking lot following
modification of the ring road on Randhurst to allow for additional parking to be dedicated for the
Jewel Food Store operation. He also stated there are strong indications that General Cinema
Theaters may be looking to build a new multi- theater complex near their present location. The
present site would possibly be used for another stand -alone retail service business.
The Ward's Auto Express has recently opened their new 16 service bay automotive center which
was reconstructed to make room for the Home Depot Development. Home Depot's demolition
work, having been completed, now focusses on the foundation work which is to begin shortly.
Occupancy is planned for late Fall, 1995.
Pontarelli's plans for the third condominium building at the Shires Clocktower Development in
downtown Mount Prospect is still subject to modification depending upon the negotiations between
Pontarelli and Terrace Supply. Terrace Supply is planning to relocate to Wheeling by September
of this year. The disposition of the strip center, however, will depend upon whether or not Pontarelli
is able to consummate a purchase of the property from Terrace Supply.
March Business Visits
During the month of March, the Commission paid visits to the following:
March 2, 1995 Central Park Office Center
March 16, 1995 Cerone's Restaurant and Lounge (Holiday Inn)
March 21, 1995 NTN Bearing Company, Kensington Business Center
As a result of the meetings, suggestions were made that we link up with the bulletin board service
at the Library for a possible listing of business properties available for lease in the community that
could be accessed by interested persons; identified the need to sit down with the owner of the
Holiday Inn with regard to improvements contemplated for the motel and ways to strengthen the
relationship between the management and ownership in dealing with the restaurant and lounge
operation; and a meeting with the top corporate management of NTN Bearing relative to their
operation and their strong commitment in support of community activities and especially the Mount
Prospect Historical Society. The business visits are also an opportunity to identify special needs,
such as, training for fire prevention and security measures which are often seen as a need in the
larger corporate community.
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NEW BUSINESS
Business Visitation Schedule for April
In April visits are planned for the Telemarketing Company on April 11, located at 479 Business
Center Drive and at The Stimsonite Corporation, 902 Feehanville Drive.
Economic Development Update Newsletter
The April Edition of the Economic Development Update Newsletter is scheduled to be distributed
during the last week in April. New ideas have been incorporated into the Newsletter and the
distribution of copies will be available at the Library, the Senior Center as well as Village Hall and
as an insert to the Mount Prospect Chamber Newsletter.
Chairman's Report
Mr. Ebbinghaus stated that he has enjoyed working with the Economic Development Commission
and through an agreement with the Village Board has stayed on as Chairman through the month of
April, 1995. Since his move out of Mount Prospect to Lake Barrington Shores, he is no longer able
to meet the requirements of the Economic Development Commission ordinance for the chairman
which requires residency w4hin the pe,iu& r'At the next meeting in M ay, Mayor Farley indicated
it was his intention to appoint John Riordan, Chairman of the Economic Development Commission.
He stated he has been in touch with Mr. Riordan recently and he intends to accept the appointment
as chairman and will preside at the meeting in May.
Appointment of a Commission Secretary
Since Ed Sroczynski resigned from the Economic Development Commission, the Commission has
been without a member secretary to take minutes as provided in the ordinance creating the
Commission. It was decided since the new chairman has not yet taken over the direction of the
Economic Development Commission, that this decision would be carried over to the May agenda.
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The meeting was adjourned at 9:23 a.m.
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