HomeMy WebLinkAbout08/14/2013 TIF Minutes
VILLAGE OF MOUNT PROSPECT, ILLINOIS
TAX INCREMENT FINANCING DISTRICT NO. 1
JOINT REVIEW BOARD
MINUTES OF MEETING
August 14, 2013
rd
Village Hall 3 Floor Executive Conference Room
I.Call to Order - Village of Mount Prospect Mayor Arlene Juracek called the Joint Review
Board (JRB) meeting to order at 3:35 p.m. The following individuals were present at the
meeting: Mr. Michael B. Alsup, Harper College; Mr. Dale Falk, School District #57; Ms.
Cathy Johnson, High School District #214; Ms. Barbara Burns, Mount Prospect Public
Library, and Mr. Dan Lee, TIF Resident Representative. Village staff in attendance
included Finance Director David Erb and Community Development Director William
Cooney.
Mr. Erb welcomed all of the guests and stated the purpose of the meeting was to provide
Statute.
II.Selection of Chairperson Mr. Falk made a motion to appoint Mayor Juracek as Chair of
the Joint Review Board meeting; seconded by Ms. Johnson. Motion carried.
III.Approval of Minutes - There was a motion by Mr. Alsup and seconded by Mr. Falk to
approve the minutes of the August 15, 2012 meeting of the Joint Review Board. Motion
carried.
IV.Citizens to be Heard - There were no citizens to be heard.
V.Old Business There was no old business.
VI.New Business
a)Update of Redevelopment in the TIF Project Area - Mr. Cooney discussed status of
redevelopment within other TIF sub-areas, specifically sub-area #3. Mr. Cooney also
noted the receipt of a $100,000 RTA grant to provide for a redevelopment study of
the downtown area. No further redevelopment was anticipated in the TIF at this time.
General discussion followed.
b)Discussion regarding the 2012 Annual TIF Report - Mr. Erb reviewed with the Joint
Review Board the Annual TIF Report . He
stated that the annual report is filed with the State of Illinois as required by state
their opinion of
the reportof the
TIF, therefore giving the report a clean opinion. General discussion followed.
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VII.New Business (continued)
c)Discussion Regarding the Current TIF Financial Pro-Forma - Mr. Erb reviewed the
most recent financial pro-forma with the Joint Review Board outlining the summary
of revenues and expenditures over the life of the TIF along with projected TIF surplus
payments to be made to the TIF District taxing districts. General discussion
followed.
VIII.There was no other business.
IX.Next Meeting Next meeting has not yet been determined.
X.Mr. Falk motioned to adjourn the meeting at 3:52 p.m. The motion was seconded by Ms.
Burns. Motion carried.
Respectfully submitted,
David O. Erb
Finance Director
TIF Joint Review Board Meeting Page 2 of 2 August 14, 2013