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HomeMy WebLinkAbout02/02/1995 EDC MinutesMINUTES ECONOMIC DEVELOPMENT COMMISSION Trustees Room, Village Hall Thursday, February 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, February 2, 1995 at the Village Hall in the Trustees Room, 100 South Emerson Street, Mount Prospect, Illinois. CALL TO ORDER The meeting was called to order at 8:01 a.m. by Chairman James Ebbinghaus. Members present were: Brian McCarthy, Ben Trapani, Norman Kurtz, Dale Jessie and Chairman James Ebbinghaus. Members absent were: Bruce Gillilan and John Riordan. Also present were Mayor Gerald Farley; William J. Cooney, Director of Community Development Department; and Kenneth Fritz, Economic Development Coordinator. APPROVAL OF MINUTES Minutes of the January 5th meeting were approved on a motion by Dale Jessie, seconded by Norman Kurtz. The motion to approve the minutes passed unanimously 5 ayes, 0 nays. OLD BUSINESS Status of On -Going Business Developments It was mentioned that Central Plaza in the downtown area was undergoing some changes with regard to tenancy, partly due to environmental problems that the owner needs to clean up with the State Environmental Protection Agency. Recently the Mount Prospect Liquors has changed hands and is in the process of obtaining a liquor license with the Village. AM Multigraphics was toured by Messrs. Cooney and Fritz with the listing broker. The phase out of AM Multigraphics will take approximately one year to complete. The 720,000 square foot building would be difficult to divide for manufacturing purposes since the HVAC could not be easily separated. It is the intention of the broker, however, to attempt to identify a single user for the space. Other options will be reviewed with broker and Village staff in an attempt to determine what uses are best suited for the 41 acre parcel. Brian McCarthy gave a brief update on the changes taking place in Randhurst including progress being made on Home Depot which has recently completed demolition of the Child's World facility. Work is progressing on the new automotive center for Montgomery Ward which is being reconstructed to make way for the new Home Depot's 150,000 square foot building. Mr. McCarthy said Home Depot expects to occupy the building in late October. Randhurst is still attempting to Economic Development Commission Minutes Page 2 attract a user for the lower level which contains approximately 30,000 square feet. The relocation of former lower level merchants is taking place on other space within the Mall. Walden Books will be moving in new space in the Center. Chevy's, a Mexican theme restaurant, is proposed to replace Florenz Italian Restaurant at the corner of Kensington and Elmhurst Road, but no final decision has yet been made. NEW BUSINESS Chairman Ebbinghaus suggested that members of the EDC be given areas of responsibility for reporting on a monthly basis or as needed on the status of the economy.... retail, industrial and professional. It was suggested that the Village economic report from the Finance Director be made available to members of the EDC and a copy of the State Treasurer's Report be made available as well. Brian Mc Carthy will report on the Randhurst activities to the EDC members. Dale Jessie will report on the industrial areas of the Kensington Business Center and Bruce Gillilan will be asked to report on other industrial areas in the Village. Ben Trapani will cover the area of development and construction while Norm Kurtz will report on the legal/medical and real estate sector. John Riordan will be asked to cover the financial institutions. Business Visitation Norm Kurtz submitted a report on the business visit to Commonwealth Edison and transmitted his report which is attached to the minutes. Business visits are scheduled for February 16 and February 23. Visits have also been tentatively scheduled for March 2, 9 and 16. Downtown Development Norm Kurtz inquired as to the status of Northwest Electric Supply's expansion plans and their discussion of potential purchase of Village -owned property. He indicated that he has some concerns about the proposed expansion and it's negative impact on the long -term ability to expand retail and service uses into the immediate area. He indicated that, he had no objection to Northwest Electric Supply seeking to expand their business in the downtown area but felt that their proposed plans closed off potential expansion of the business and residential uses in the downtown area. He suggested that consideration be given to relocating the business to the site currently occupied by Central Plaza. He suggested either a purchase from the current owners (reuse or re- construction of bindings on the site) could better serve Northwest Electric Supply and the Village in the long -term. Consumer Expo - March 4th and 5th The Chamber is again sponsoring the Consumer Expo to be held at Randhurst on Saturday and Sunday March 4th and 5th. The Village once again will have an exhibit, the theme of which will focus on economic development and "what business brings to the community ". The activities of the Economic Development Commission will be highlighted. Members of the Commission will be Economic Development Commission Minutes Page 3 asked to participate in helping staff at the exhibit. Members of the EDC available to provide some time should contact Mr. Fritz. I nvitation The EDC asked staff to invite AM Multigraphics broker to make a brief presentation regarding the property and suggest ways in which the EDC could assist finding a tenant or marketing the site. Chairman Ebbinghaus also asked that Marshall Ponzi, Plan Commission Chairman, be invited to bring the EDC up -to -date on the Village Comprehensive Plan changes. ADJOURNMENT The meeting was adjourned at 9:31 a.m.