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HomeMy WebLinkAbout01/05/1995 EDC MinutesMINUTES ECONOMIC DEVELOPMENT COMMISSION Trustees Room, Village Hall Thursday, January 5, 1995 8:00 A.M. The regular meeting of the Economic Development Commission of the Village of Mount Prospect was held on Thursday morning, January 5, 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 8:10 a.m. by Chairman James Ebbinghaus. Members present were: Bruce Gillilan, Norman Kurtz, John Riordan, Dale Jessie and Chairman James Ebbinghaus. Members absent were: Brian McCarthy and Ben Trapani. 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 November 3rd meeting were deferred until February 2, the next regular meeting. OLD BUSINESS Review Current Business Development Contacts Staff reviewed with the Commission the projects that are currently being monitored by the Economic Development staff of the Community Development Department. Kensington/Wolf property - Shaw Company has entered into a contract to purchase with Concord Builders. Ken Fritz has met with a preliminary meeting with Concord regarding their desire to develop townhouses for the property on Kensington. Proposed density is roughly 10 units per acre which is consistent with Village's R -2 Zoning District. Home Depot indicates that demolition on Child's World will begin in late January with construction to begin in early March. ETA Circuit Breaker now under construction in Kensington Center on Bishop Court anticipates an April opening. Anizter will begin interior remodelling at 852 Feehanville Drive in the former WCI Financial building. They will be occupying approximately 30,000 square feet of the 61,000 square foot facility. Economic Development Commission Minutes Page 2 Terrace Supply indicates that their new location in Wheeling will be occupied by September of 1995. Staff is in contact with Wheeling officials to see if this process could be speeded up. Pontarelli in the meantime continues to negotiate with Terrace Supply for the purchase of their property. Sears Hardware's broker continues to work with DiMucci for a possible location west of Golf Plaza II on Golf Road. They recently presented a plan to DiMucci for their consideration. They anticipate a reply from DiMucci in thirty days. Pontarelli's retail broker is working with potential retail businesses for location in the 7,500 square foot commercial Clocktower Place building. Menard's Courtesy property has no new leads for potential reuse. At present, Wolff s Market Place occupies a portion of the former Courtesy Home Center. Business/Industrial Space Study No new surveys have been returned to staff leaving the response rate at about 52 %. The Planning Division has received several requests for office and retail locations and have been given potential leads for business based on the survey results. Hotel/Restaurant Survey The 1989 hotel/restaurant survey was sent out once again to businesses in the Kensington Center to update the information and establish a new marketing effort to be used to contact hotel and restaurant investors for potential interest in locating in Mount Prospect. Eighty two surveys were sent out initially with 37 responses having been received to date. A second mailing is anticipated. NEW BUSINESS Economic Development Commission Goals for 1995 I. Completion of Annual Report A. Review of Business Development in Past Year B. General Business Climate in Mount Prospect C. Specific Activities of the Economic Development Commission D. Economic Prospects and Trends Economic Development Commission Minutes Page 3 E. Economic Development Recommendations to be Considered by Village Board - 1995 II. Analysis of Building Space Needs Survey - Brief Report to be Prepared for Meeting with Real Estate Brokers for 2nd Quarter of 1995 III. Analysis of Hotel Restaurant Survey - Plan to Send out Package to Hotel Restaurant Firms and Possible Inclusion into Marketing Brochure IV. Cooperative Role with Chamber Regarding Cook County Tax Assessment Studies V. Targeting Business Types for Mount Prospect A. Downtown- Retail B. Communications and other Tech Uses (Seek KBC and Owner's Association in Kensington Center for Suggestions VI. Impact on Large Employers - Federal Emission Control Standards VII. Interior Buildout Program in TIF District VIII. Land Use Policy Regarding Vacant Land Redevelopment Annexation - Possible Joint Advisory Board Work Session with Plan Commission, BDDRC and ZBA IX. Public Presentations - EDC Programs (Present to Service Clubs, Chamber, Real Estate Brokers, etc. X. Health Care - Identify Needs of Small and Large Business in Health Care Needs This list of potential work program projects is by no means all inclusive nor is it intended to suggest that all ofthese projects would be necessarily identified for completion during 1995. The list should serve as a discussion for EDC members. Upcoming _Business Retention Visits An effort is being made to step up the business visitation program. The second through fourth Thursday mornings of each month will be targeted for business visitation appointments. The goal will be to arrange two visits per month starting in February. The 26th of January has tentatively been scheduled for Sayers Computer Source, one of the new businesses moving to Kensington Center. Economic Development Commission Minutes Page 4 Economic Development Update Newsletter The second edition of Economic Development Update Newsletter will be produced mid - January and inserted in to the Mount Prospect Chamber Newsletter going out to 600 Chamber members and associates. In addition, brokers representing office and industrial developments will be sent copies of the Newsletter. Other opportunities to pass on information regarding business through the Newsletter will be the Chamber's Consumer Expo in early March. Mayor Gerald Farley reported on the significant happenings in the business area. 1. The closing of AM Multigraphics has been announced to Village Officials. They will be making the public announcement in mid- January. The magnitude of this closing is significant. The site contains 42 acres of land and 720,000 square feet of building. Recently the Mayor and staff toured the area with company representatives. Multigraphics plans to phase out the business during 1995. They are also looking for 75,000 square feet at another location for office use. 2. Progress on Home Depot is moving ahead with the Montgomery Ward Auto Center being reconstructed. The Village looks forward to the opening of Home Depot in October 1995. 3. The Business Visitation Program continues to be one of the best ways communicate with the existing businesses in the Village. This program should be expanded. Downtown Zoning District Public Hearing Bill Cooney indicated that on Thursday, January 26th, the Zoning Board of Appeals will hold a public hearing on the creation of the B -5 Zoning District for the downtown area including business properties on Northwest Highway. ADJOURNMENT The meeting was adjourned at 9:49 a.m.