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HomeMy WebLinkAbout01/19/2017 EDC MinutesMAYOR Mourn Pro Arlene A. Juracek TRUSTEES Paul Wm. Hoefert John J. Matuszak Steven S. Polit Richard F. Rogers Colleen E. Saccotelli Michael A. Zadel Village of Mount Prospect 50 South Emerson Street, Mount Prospect, Illinois 60056 MINUTES ECONOMIC DEVELOPMENT COMMISSION Community Development Conference Room, Village Hall Thursday, January 19, 2017 8:00 a.m. VILLAGE MANAGER Michael J. Cassady DEPUTY VILLAGE CLERK Karen Agoranos Phone: 847/392-6000 Fax: 847/392-6022 wunu. moun tprospect. org The meeting of the Economic Development Commission (EDC) of the Village of Mount Prospect was held on Thursday, January 19th in 3rd Floor Executive Conference Room in the Village Hall, 50 South Emerson Street, Mount Prospect, Illinois. CALL TO ORDER Skip Robertson called the meeting to order at 8:00 a.m. Commissioners John Healy, Norm Kurtz, Dan Novak, and David Roe were present. Also present were Mayor Arlene Juracek, Bill Cooney, Director of Community Development, Consuelo Arguilles, Deputy Director of Community Development and Dawn Fletcher -Collins, Executive Director of the Chamber of Commerce. APPROVAL OF MINUTES The minutes of the September 15, 2016 meeting were reviewed and approved unanimously. CITIZENS TO BE HEARD No comments. OLD BUSINESS Development Update Mr. Cooney provided a brief update on various developments throughout the Village. He highlighted several projects in the downtown district, along the Rand Road Corridor, in the Downtown and on the south side of town. NEW BUSINESS Prospect and Main Tax Increment Financing District Mr. Cooney explained that the Village Board approved the new district that includes a portion of the expired TIF properties in addition to new properties along NW Highway, Prospect Avenue and Central Road. He explained that the new TIF would provide an economic development tool to assist in the redevelopment of several key properties including Central Plaza, the small triangle and the Parenti- Raffaelli block. In addition, the new TIF boundary would allow several property owners and/or tenants to benefit from the Facade Rebate Program along Prospect Avenue and NW Highway. The group discussed the various development opportunities and was encouraged that the Village Board moved forward with the new TIF. They encouraged staff to expedite these projects to take advantage of the current economic development climate. Annexation Update Mr. Cooney explained that the Village Board was nearly complete with the annexation of over 150 acres of primarily industrial/commercial properties located along Busse Road, Algonquin Road and Dempster Street. This area includes the former United Airlines headquarters property that was annexed earlier this week. The EDC discussed this area in detail and suggested that they focus their business outreach efforts on the newly annexed businesses throughout 2017. OTHER BUSINESS Mr. Cooney asked if the group would be open to meeting on a different date moving forward as Mr. Cassady has a standing meeting that conflicts with the 3rd Thursday morning of the month. The group discussed this matter and agreed to move the EDC meetings of the 4th Thursday of the month at 8 AM. ADJOURNMENT The meeting was adjourned at 9:00 a.m. Respectfully submitted, William J. Cooney Director of Community Development