HomeMy WebLinkAbout06/10/1997 COW agenda COMMITTEE OF THE WHOLE
AGENDA
Meeting Location: Meeting Date and Time:
Mount Prospect Senior Center Tuesday, June 10, 1997
50 South Emerson Street 7:30 P,M,
I. CALL TO ORDER - ROLL CALL
II. ACCEPTANCE OF MINUTES OF MAY 27, 1997
III. CITIZENS TO BE HEARD
IV. FUNDING ALTERNATIVES FOR VILLAGE-WIDE STREET IMPROVEMENT
PROGRAM
During 1996, the Director of Public Works Glen Andler and his staff made
presentations before both tile Finance Commission and Committee of the Whole
concerning the overall condition of Village streets. In those presentations, certain
areas of the Village wore identified as having large backlogs of streets in need of
reconstruction or resurfacing. As part of Mr. Andler's presentation, several options
with cost estimates were introduced so that these backlogs could be eliminated,
tn general, the cost of reconstructing and resurfacing was estimated to require
approximately $13.5 million of new money over the course of a 10-year program
between 1997 and 2006. These funds would be in addition to the $1 million in
Motor Fuel Taxes and $300,000 in General Fund monies which have been
historically devoted to street work each year; along with approximately $1 million
in proceeds from the second ¼¢ of the Home Rule Sales Tax.
The Finance Commission discussed the various aspects of the Road Improvement
Program and the options pro-offered to eliminate the outstanding backlog. Those
discussions resulted in recommendations that included a general policy that street
improvements should be funded on a pay-as-you-go basis as opposed to the
issuance of medium to long-term debt. The Finance Commission also presented
a recommendation to fund a 10-year accelerated repair program through an
increase in the Village's Utility Tax.
During its deliberations on the 1997 Budget, the Village Board generally concurred
with the concept of funding street improvements on a pay-as-you-go basis, As a
result, instead of issuing $2.5 million in Bonds for road improvements in 1997, the
Board directed staff to identify cash-on-hand which could be utilized for the
upcoming construction season. A total of $1.9 million of Fund balance was
identified as available to finance the current year program. The Village Board and
Finance Commission then set about the task of determining how to fund the
remaining nine years of the accelerated program.
NO TE: ANY INDIVIDUAL WHO WOULD LIKE TO A ?-rEND THIS MEETING BUT
BECAUSE OF A DISABILITY NEEDS SOME ACCOMMODATION TO
PARTICIPATE, SHOULD CONTACT THE VILLAGE MANAGER'S OFFICE
AT 100 SOUTH EMERSON, MOUNT PROSPECT, ILLINOIS 60056,
847/392.6000, EXTENSION 5327, TDD #847/392-6064.
On May 13, 1997, the Village Board met with the Finance Commission in a
workshop setting to discuss funding alternatives. Based on the outcome of that
workshop, staff was directed to finalize a variety of funding mixes for presentation
at Tuesday evening's Committee of the Whole meeting On June 3, the Finance
Director, Public Works Director and Vii[age Manager met with the Chamber of
Commerce to present and discuss the various funding proposals. As a result of that
presentation, the Mount Prospect Chamber of Commerce has made its own
recommendation regarding how sufficient funding leveIs should be achieved. Their
recommendation is part of this information package.
Tuesday evening's meeting will encompass a more detailed level of public
discussion. Members of the Chamber of Commerce will be presenL The Finance
Commission has also been notified of the meeting and has been invited to attend.
The topic has received coverage in the local media and previous Board discussions
have been carried by cable teIevision. Appropriate staff wilt be in attendance to
answer questions and facilitate discussion.
V. MANAGER"S REPORT
VI. ANY OTHER BUSINESS
VII. ADJOURNMENT
CLOSED SESSION
ILCS 120/2 (c) (2) "Collective negotiating matters between the public
body and its employees or their representatives, or
deliberations concerning salary schedules for one
or more classes of employees."
ILCS 12012 (c) (5) "The purchase or lease of real property for the use
of the public body."
DEFERRED ITEMS
Signs in Rights-of-Way
Density/Residential Redevelopment
Downtown Redevelopment Options
Busse Road Widening
Annexation Opportunities
Parliamentary Procedures