HomeMy WebLinkAbout 5.3 Motion to authorize the Village Manager to retain MPS Law as TIF Counsel for Block 56 in an amount not to exceed $40,000.4/16/2020 BoardDocs® Pro
Agenda Item Details
Meeting Dec 10, 2019 - SPECIAL MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - 7:00 p.m.
Category 5. CONSENT AGENDA
Subject 5.3 Motion to authorize the Village Manager to retain MPS Law as TIF Counsel for Block 56
in an amount not to exceed $40,000.
Access Public
Type Action (Consent)
Preferred Date Dec 10, 2019
Absolute Date Dec 10, 2019
Fiscal Impact Yes
Dollar Amount 40,000.00
Budgeted Yes
Budget Source Prospect and Main TIF Fund
Recommended Action Staff recommends approval of a motion authorizing the Village Manager to retain MPS Law.
Public Content
Information
The Village received proposals to redevelop a portion of Block 56, which is bounded by Emerson Street, Northwest
Highway, Maple Street and Busse Avenue. Staff is analyzing the redevelopment proposals and is requesting special
counsel be appointed to assist with negotiations of a redevelopment agreement. MPS Law is distinguished in their
experience negotiating successful public-private partnerships in tax increment financing districts. The firm also has a
great deal of experience dealing with banks and lenders which will be a key factor in selecting the right development
team and negotiating an equitable redevelopment agreement.
Alternatives
1. Authorize the Village Manager to retain MPS Law as special TIF counsel in an amount not to exceed $40,000.
2. Action at discretion of Village Board.
Staff Recommendation
Staff recommends approval of a motion authorizing the Village Manager to retain MPS Law.
Administrative Content
Executive Content
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All items under Consent Agenda are considered routine by the Village Board and will be enacted by one motion. There
will be no separate discussion of those items unless a Board member or member from the audience so requests, in
which the item will be removed from the Consent Agenda and considered in its sequence on the agenda.
Motion & Voting
Approval of a contract with Argon Electric in the amount not to exceed $92,309.00 for the supply of the new Station
13 alerting system from US Digital Designs and will be invoiced and paid from the 2020 Village of Mount Prospect
Budget.
Motion by Michael Zadel, second by William Grossi.
Final Resolution: Motion Carries
Yea: William Grossi, Eleni Hatzis, Paul Hoefert, Richard Rogers, Colleen Saccotelli, Michael Zadel
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