HomeMy WebLinkAbout1655_001Village of Mbun` jJroapect
100 S. Emerson
Mount Prospect. Illinois 60056
'TUB Mayor and Board of Trustees
FROM:.,,,. Trustee Ed Miller, Chairman, Finance Committee
DATE: October 2, 1980
'ttee Meeting.
Re - Finance Con=
The meeting was called to order at 8.-00 P.M. An the Village
Manager's office of the Village Hall. Present were Chairman Millet;
Trustees E. F. Richardson and Theodore J. Wattenberg; Village Manager
Terrance L. Burghard.; Director of Management Services Martha HO Peppler.
Also present during the meeting representative, of the Rauenhorst Corp-
oration,, Chris Noon, representative of Advanced Systems, Inc. Rohit
Patel, and representatives of Lester Witte, Laurence Salasche, Irwin
Lyons, and Keith Ganbrel.
Industrial Revenue Bond ,Re guee.-7- 4%
Mr. Chris'Noon and Mr. Rohit Patel presented .a request from Advanced
Zystems, Inc./U.R.S. for the issuance of seven million dollars in
Industr*al Revenue Bonds for the purchase and furnishing of Building
Nunber-Six in the Kensington -Center. They presented a video tape ex-
--makes training program and
plaining ASI/URS; ASI 3.s,a company which,
video, /tapes _'.the bonds -would be issued by the $70: ti -Ilion parent'
company UPS and would, -be purchased by -the Ohio'Coinpany. The rate paid
for these-IRB's'would be/approximately ten percent compared to 13% for
a conventional mortgage.
The,Committee reviewed the proposed changes to the building
and the expanded parking plan.",,-, ,The building 'is being- considered to
provide space,, for future growth for ASI;- it will include a -video tape
studio, office and warehouse facilities. -Approximately 250.,enployees
would work in this' build'ing.
The Committee agreed to report out favorably on this applica-
tion at the next Board meeting. The applicants requested that a draft
memorandum of agreement -,be prepared for that meeting.
SINCE THIS "HETI G, ASI HAS WITHDRAWN THIS APPLICAli".ION,AND
FORFEITED THE '$5,rOOO APPLICATION FEE.
]Review of the Annual Al
Laurence alas(
the discussion of the
April3019 80 . Mr. Si
in conformance with tho
for municipal„ audits.
unqualified opinion on
Special Assessment ' Fun+
because t _ was -audited
available- to the villa4
Funds are unauditable"
Mr. 5alasche n+
that it is a tool for
seated a memo which rew
attached as a part of
the items have: been ccs:
be remedies by the maj
system. The auditors
developed.
'.1"►e Committee
the next Board Meeting;
from' -Lester Witte ,. be p'
L, cruor Hearin
Bob
partner of Lester'Witte and Company, lead
-t of the Annual Audit of the year ending
:he e plained the new audit format which was
w combined accounting -reporting standards
this repot Lester Witte expresses an
funds except the Library , .Fund and the "Old"
They expressed no opinion on the Library Fund
Lnother firm and the ; records were not made
".The records of the '_'cold" Special Assessment
to opinion was e3q?ressed on these' funds:.
►resented the Management Letter explaining
fission r,an.+d improvement. Mrs. Peppler pre--
led. oto this letter-. A copy of that memo is;
: minutes . As noted in this memor some o
:ed already, many of the ether comments Ill
L nges which will occur with the new computer
e reviewing the- new systems as,, they are
I to accept~: the audit and to present it at
tairman iMiller 'µ asked that a representative
it at that meeting.
:d to hear ,an 'item not on the agenda.
4H
,res int. ng Bucking Bull','. Inc., ;requested
it was. relinquished by Melissa -
:heir ,+close,::.
be transferred "back to the
wishes tca_ re -open at that _s' mce
)ted that there had been -no . problems when
tense: The Co iittee concurred with this
:ease Mal Arman °- iller. eked ,,that the
;concurrence so_ that she may .,take ;,any appro-
license.
v,
.ited' a, report con the proposed financing of
attached) The Committee agreed that the
3 should pay for this property out of_ fu --
.y general Village funds used. The Comr-
ting system fees should be raised to seventy-
uik . loan, should be secured to purchase the
mittee requested that the loan be presented
ext meet~.ing so that' -the money will be °°avail -
a Boesche property on October 1.5, 1980
m
°n
r F
F
s
,,w,..p m;x/ , y,xana�.ry w.wwy;.*swrvroNrmn ,nnr in»i»ir m,»o,„r«m,jy,bwRwraUrim!Mv, mnrnmou.o.,s,.::rw,„... ,ro,
,�„
Villagr vii Mount Prospect
S
Mount Prospect, Illinois
INTEROFFICE MEMORANDUM
TO: Terrance L. Burghard, Village Manager
FROM: Martha H. Peppleri, Director of Management Services
DATE: September 12, 1980
SUBJECT: Response to Audit Management Letter
For your -benefit -and the nevi ew-by--the Finance Committee. I would like
to briefly respond to the points raised by the auditors in the Management
Letter which accompanied the Audit for the year ending April 30, 1980.
These comments are -not meant to be the complete answer to the questions
raised in the letter, rather I look forward to discussing them, in depth,
with you, the Finance Committee, and the auditors on Wednesday, September
17, 1980.
1. Bank Account Reconciliations
A number of Management services personnel are currently being
trained in the preparation and generation of bani, reconciliations
so that time constraints on any one employee will no longer hinder
the timely reconciliations of the Villages accounts.
A formal procedure was established in fiscal year 1978-79 for
reconciling the Disbursement Account; the documentation of this
pro*cedurd.is .,being -expanded.
All bank accounts are currently reconciled through -July 31, 1980.
2. Cash Collections
This is one of the areas that will receive a major overhaul
with the new computer system; many of the auditors comments -
such as separate documentation envelopes, 3 part receipts for
Police and Code Enforcement, and afternoon depositing are all
being considered. With the computer, the depositing and posting
functions will be split between two positions. The Bank Lock
Box for water bills is complicated by our current water billing
system as it applies to M.S.D. charges, but we are checking into
it with the bank.
3. Purchasing
..... . . .. .. .. . . . " E
While it is true that many R.O.'s are ";conf3*Aening" ones, purchases
of a substantial amount, say $500, generally receive prior '
approval before purchase. Receiving prior approval for the purchase
of small "nuts and bolts" items could prove to be a hindrance to
operations on a daily basis. I have discussed with the auditors the
possibility of some kind of _monthly purchase order ...for these items
with a not -to -exceed figure built in. -We are considering including
this in the new Accounts Payable/Purchasing procedure for the
computer system.
Printed on 100% Recycled Paper
6M
Centralized purchasing is certainly a concept which deserves
further review. In an cperation the size of the Village,
the opportunity for substantial savings and positive control
cannot be underestimated.
When the auditors noted the missing receiving copies, the
appropriate departments were reminded and the problem seems to
be taken.careof.
4. Cash Disbursements
This is another of those areas where the computer will rearrange
the jobs to establish better controls over the check writing
procedures. The paper flow under the manual system was just too
great to allow for the proper procedure; the computer will
re -assign these tasks.
ACCOUNTING MODIFICATIONS
5. One Outstandin. eck List
We are in the process -of insta ' lling a. new- -.system of checking and
disbUrsing accounts.- Under this system all checks will be written
otit-of.a single imprest account which will be reimbursed out of
the appropriate fund checking accounts; this should simplify
reconciliation as well as check production.
6. open Cash, Disbursements
it has been 'the practice,, to simplify the a,,ccountinqr to charge
the bills paid in May directly to the prior year and to date the
checks April 30. While this is technically not the correct
procedure, it avoids making literally hundreds of adjusting journal
entries in both fiscal years. Compared to the work it saves, the
staff feels that this is a minor bending of accounting procedures.
7 Posh onin the Deposits of Business and Liguor Licenses
Business and Liquor Licenses which are ' due may I, but are received
prior -to thatdate�are-not deposited -until the new fiscal year
started. This is an attempt to get the money recorded in the
year for which it is earned. If the Committee wishes, we can
discontinue this practice and deposit the checks when they are
received which will inflate the fund balance and cause a short
fall in the revenue accounts for the first year.
8. Writin offFunds
Th,e funds will be written off this year with the proper adjusting
entries. The balance in the Community Development Fund will be
analyzed and returned to Cook County of necessary.
9. M.S.D. SeweEChar e,
We are hoping to discuss this matter in detail with the committee
and the Board. Currently, the M.S.D. Sewer Charge appears as part
of the water charge on the bill rather than a separate item. Showing
these as separate items will make the accounting cleaner and less
confusing to the residents.
10. Posting Adjusting Journal Entries
The detail general ledger accounts will be posted to at year-end.
ll., Special Assessment Late Payment
Part of the delay in paying this special assessment was waiting
for NFT approval on this public benefit portion. No additional
interest costs were incurred by this delay. An annual payment
calendar and reminder system for all bond and interest payments
has been established.
12. Reconciliation of the Trust Fund Detail
This is the correct procedure; the detail is now being reconciled
on a monthly basis.
The Finance Division of Management Services is about to go through a major
accounting and procedural reorganization in conjunction with the new
computer system. We are looking at -all of the operational procedures with
an eye for increased efficiency and control.' Any major changes are being
discussed with the.auditors as we proceed; they have been extremely
helpful to me in pointing out areas which need work. I welcome their
comments and criticisms now in the Management Letter and in the future.
Vill,ge of MoUnt Prospect
MOUnt Prospect, Illinois #1 AW<01 1-
INTEROFFICE MEMORANDUM
TOS Terrance L. Burghard' Village Manager
FROM: Martha H. Peppler, Director of Management Services
DATE: September 12, 1980
SUBJECT: Boesche Property Financing - Parking Fee Increase
The Village has entered into an agreement to purchase the Boesche property on
behalf of the Parking System Revenue Fund. This project, when completed,
Will provide approximately 84 additional parking spaces for the system. It has
been the practice of the Village to make the. commuters pay for any improvements.
or extensions to the system through the segregation of all revenues and expenses
in thi's separate parking fund;. With this and other proposed enhancements to the
system, additional revenues will be needed.
As discussed previously, it is anticipated that the acquisition of the Boesche
property will be accomplished through the use of a bank loan -to the Parking
System Fund. The construction costs of the lot will be paid out of the current
cash reserves of -the Parking System Fund. Based on an interest rate of M,
the- five -'year loan would be
structured as follows:
Principal Interest Total
Year 1 $ 33,00.0 11756 44,758
Year 2 33"000 919281 42,281
Year, 3 33p000 6,811 39,811
Year 4 33,000 4,331 371,331
Year 5 33,000 1,9855 34,855
Total $ 1659000 $ 34,034 $ 199,034
At a -recent Public Works Committee meeting, the Committee reviewed a proposed
lease with the Chicago Northwestern to have_theVillage assume maintenance
responsibility for the railroad station; in -exchange, the Chicago Northwestern
has agreed to allow the rates charged in their lots to increase from $.50 to $.75 per
day.
The- Public Works Committee and staff agrees that the Village leasing of this
facility -will result -in much needed.repairsand ongoing maintenance to -the
o
Page Two
September 12, 198o
station and platform. Herb Weeks estimates that the annual building maintenance
costs w1*11 be $1,2,,,000 - $i5, 000 Operations andintenance fi
M gures as
I 1�1'
Included in the current budget will be used for. comparison; 'they are in line
ith,, previ
us
wi lo'years.
The current vs. proposed figures for revenues and expense*s'are resented
belowo' Figures are based, on 25 p
0 revenue days per year- current rate 50 ,0
proposed rate 751t/day. /day;
REVENUES
Current ....... Proposed
Spaces Revenues Spaces Revenues
Village Lots 200$259000 284 $53o2,510
CNW Lots 327 405,875 327 51.1312
Wille St. Leases 50 1-1 4.v 9 70 50 71464
Total 577 $70�845 661
$1220,0126
EXPENSES
0 & M Expenses $ 349000 $ 49sOOO
CNW Lease Expenses 13 623 20,435
Bank Loan Expense
Total 44,756 (Ist'- year)
$47t623 $114,191
Net Surplus $23,1222
$7,835
Unlike the case with -the computer -where the alternative of spending cash
from the fund, balance instead of borrow' was possible -
the Parking *System
4-
Revenue Fund does not have sufficient balances to both purchase- and .7 construct
this -parking lot.- Without seeking a loan, the only other alternative is to use
General: Fund revenues to support the commuter parking system. This would
90 against the previous Board policy that the parking fund had to support inself.
At this- time, it is necessary to secure the Committee's concurrence with the
concept of the bank loan and the rate increase and to have the appropriate
ordinances 'prepared for the next Board meeting.
WAIM
*RDINANCE NO. =
AN ORDINANCE AUTHORIZING THE BORROWING OF
$165,000-00 IN CONNECTION WITH THE PURCHASE
OF CERTAIN REAL PROPERTY
WHEREAS, it has been deemed advisable, necessary and in the
public interest that the Village of Mount Propsect, Cook
County, Illinois (hereinafter referred to as the "Village"),
acquire the real property legally described as follows:
That part of the Northwest 1/4 of Section 12,
Township 41 North, Range 11 East of the Third
Principal Meridian, described as follows:
Commencing at the Southeast corner of the North-
west 1/4 of said Section 12, running thence
Westerly along the South line of said Northwest
1/4r 754.84 feet; thence North parallel with the
East line of said Northwest 1/4, a distance of
638.78 feet to the point of beginning of the
tract of land being described herein; thence
continuing North along said parallel line a
distance of 318.45 feet to the Southerly line of
the right of way of -the Wisconsin Division of
the Chicago and Northwestern Railway; thence
Southeasterly along said Southerly line of right
of way, a distance of 175.25 feet; thence South
y JI
parallel with the East line of said Northwest
1/4, a distance of 232.89 feet; thence Westerly
parallel with the South line of said Northwest
1/4, 150.0 feet to the point of beginning (ex-
cepting therefrom the Westerly 33 feet and also
excepting the Northeasterly 66 feet thereof).
together with
Lot 1 in J. A. Weber's Addition to Mount Prospect,
being a Subdivision of part of the East 1/2 of
the Northwest 1/4 Section 12, Township 41 North,
Range 11 East of the Third Principal Meridian,
in Cook County, Illinois,
which shall be referred to hereinafter as the "Subject Property-"
and
WHEREAS, the Village has contracted to purchase the Subject
Property for $165,000.00 pursuant to Ordinance No. 3049
authorizing the purchase of the Subject Property; and
WHEREAS, the Subject Property will serve the public and
corporate purposes for which the Village is organized; and
WHEREAS, the Village proposes to use the Subject Property as a
J
parking lot in order to better meet the parking needs of the,
downtown area of the Village; and
WHEREAS, the use of the Subject Property for the purpose afore-
said is a proper public purpose; and
VIHEREAS, the Village, 'pursuant to its home rule authority, has
adopted Ordinance No. 3038 providing for the borrowing of funds
for the purchase of real property and executing promissory
4-
notes in connection therewith.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of
Trustees of the Village of Mount Prospect, Cook County, Illi-
nois as follows:
SECTION ONE: The foregoing recitals are incorporated herein as
finds ngs by the President and Board of Trustees of the'Village.
SECTION TWO: The President and Board of Trustees of the Village
find that the borrowing of money to allow the purchase of the
Subject- Property is necessary for the welfare of the government
and affairs of the Village and is in the public interest.
SECTION THREE: For the. purpose of providing the funds to purchase
FE -es Bub -j—eco -Property, the Village shall borrow $165,000.00 from
Mount Prospect State Bank at an interest rate of eight and one-quarter
percent with the principal and interest on such debt too be
payable in installments for a period of five (5) years. Such debt
shall be payable q'g on
quarterly, --January 14 1981 and
,, nuary
continuing thereafter on April 14, July T4, and October 14, 1981
and shall continue each and every year thereafter to and
including 1985. The total amounts to be paid for principal and
interest on such debt in each of the Village's fiscal years
commencing in 1981 and continuing each and every year thereafter to
and including 1985 are set forth on Exhibit A which is attached
'hereto and Incorporated herein by this reference. The Village
shall execute any and all documents required in connection with
the Village incurring such debt, including, but not limited to,
a promissor4y note'.
SECTION FOUR: The principal and interest on such indebtedness
shall be paid solely and only from the revenues derived from
the parking system revenue fund of the Village. Such indebted-
ness shall be unsecured.
SECTION FIVE: The Village President and the Village Clerk of
the Village are hereby authorized and directed to execute a
promissory note in substantially the same form as Exhibit B
attached hereto and incorporated herein by this reference and
any and all other required documents with the Mount Prospect
State Bank for the funds to be borrowed pursuant to and in
accordance with this Ordinance No.
SECTION SIX: This Ordinance shall be in full force and effect from
and afFe—rfts passage, approval and publication in the manner
provided by law.
Passed this day of 1980.
AYES:
,NAYS:
ABSENT-*
Approved this day of 1980.
Approved:
Attest: Village President
,VI LLAGE OF MOUNT PROSPECT
DUE
TOTAL PAYMENT
DATE
PRINCIPAL
1-14-81
$ 8, 250
4-14-81
32,250
7-14-81
82250
10-14-81
8,250
1-14-82
8,250
4-14-82
8,250
7-14-82
817250
10-14-82
8,250
1-14-83
83,250
4-14-83
81125,0
7-14-83
8,250
10-1-4-83
8j250
1-14-84
81250
4-14-84
8,250
7-14-84
82250
10-14-84
8,250
1-14-85
8,250
4-14-85
81250
7-14-85
8,250
10-14-85
8,1250
SCHEDULE OF DIRECT REDUCTIONS
MOUNT PROSPECT STATE BANK
INTEREST
TOTAL PAYMENT
33403.12
112653.12
33232.97
11,482.97
3:o062.81
112312.81
21892.65
112142.65
21722.50
10,972.50
22552.34
10>802.34
2,7382.19
10,632.19
21212.03
103462.03
22041.87
102291.87
13871.72
10,121.72
1.%701.56
93951.56
12531.40
9,781.40
12361025
92611.25
11191.09
93441.09
13020.94
93270.94
850.78
91100,78
680.62
81930.62
510.47
81760.47
340.31
82590.31
170.16
82420.16
E�416 Ir- R
Mm
EXHIBIT A
LOAN: 8165.000.00
1482500.00
140,250.00
132,000.00
123,750.00
1154500.00
107,250.00
99,1000.00
902750.00
822500.00
74,250.00
662000.00
573750.00
492500.00
41,3250.00
332000.00
24,750.00
16,500.00
8.1250.00
-0-
1EXHIBIT
INSTALMENT NOTE Proceeds of Loon Applied to
Amount $ 165,1000-00 1. Credit to A/c. No.
Maturity October 14, 1985 2. Cashier's Check No.
Account No.,, 80
Date I October 1 19 Payee
The undersigned, FOR VALUE RECEIVED hereby promises to pay to the order of
MOUNT PROSPECT STATE BANK AT ITS OFFICE IN MOUNT PROSPECT, ILLINOIS X- SIGNATURE OF BORROWER
in lawful money of the United States_
IV "i
quarter plus interest
165 000.00 19 Xq-LVinstalments of $ 8, 250. 00 each and a final instaVg� Lt -T ch
the sum of $_ Z — # in,--", successi,iiii
balance J an u a, r y 14 19 and thereafter on the some day of each subsequent *N;iK until
Shall be $ beginning on 0
paid in full, together with interest after maturity on oil unpaid amounts at the highest lawful rate then in effect in the State OF Illinois.
11 any,orro, Or mort of the occur ('hitrein,iihott colleJ an �F-,,tniaf Dielatsh"), iikai it to say, ii'V i M11,340 in the punctual ;*�Iymi of any' inglotmorilit 601rovrjeK"i
W�CnIJ411; or 106),00y slatt.,ment, opplicoiii or supporting financial the Bort la �y the undertigiri shall bit found lolb�� fcls*�Irr otly Mi respect; 'at frill default shall b4, mode
in tho pvnctui poyrriiomr 01 aftV of the undrr%ogned, To f�n 'Bonk, wl't" JQ'i Of (iv)i 1,ke UM,d&r5J9Me4, of on,,�r of them, ih,oll become ;W sisoll bi una'slai to pay hisdrbis as ��riy
rrialk.we; ve shall admir in, woltir�g has wabii to prey ht�s je6ts ot th,eynlot4ri oo, sitoll moolii, on asstgnmerit lar 1,60 benefit *11, his crediiircii 'Cot %hol'o file or colmmence cc �,4v# ' filed or comwoncej
In* # r
ul" ii any, �,00� I 0vp1CV ew ;0%,*1VfM1CY Icw%� 00 ofty low's relalong to the relief Q1 de$toi of tridi, ss, reor;oini.zofl*m%, compoi it ions, or OxIs -
ag*ipi h , too any relief u grit'j" W 0'ay of ther"', sholl JIt, V , (VI) the sqn,'4 v"It'jef-M irl"011 wnseciurv, for any raosan w1kotlaqviirr 16n,
r-cri,ovet Of trustee %hall, 6e oppolmled lot tyre under (",111 the wAdef!" I of arry kind, i0l of wbich Coo
means. aS,, j,. nirrent, 4emOM4. Pi
upon tike OCcwr4rAcrr 01 arry such''OV0011", thl% Note *I th't option a , Baoj�_ become, ornimediciely duo and payoblirwiThoiat ;wevm id,mii 1*0 1h,iri option of 16 sonk,'64,
cress tel the, c,cvrfente �Q1, on EvLmt *1 Dtlovli, �e,rewvdqr, 0,,,v indic"�le'dr%t%1 due fmrm Ott, 50A, ro, any of tbii
by 1b41 lt, i: 101niv's 60,401" Each of f"64, virridii,f.
vridetsigned" as, used im &W afore Shall inrlvjfr all of t6o rna�"7f,% of thins Nois and all 5UZ
0,01i off and op'PlIed 01 Otletl'oog this e�'Oj& afterIS4
gainst thii Nare J�,e, Pot, 'T'K* iietm, uoi ew paid by the leigal holdle No dc
sili a;f0iiii it* pay oil costs of collection, lingot ritipien'tts 0^6 of000ner's fees 'o:r.,c
Debtiarogrees to pay a delinquency charge on each instalment in default for not less than 10 days in on amount not exceeding the lesser of 5% of the instalment or $5.00.,
To 4�4ei+%r, %,ertore Ole P�oymi oll twd MMIDNlnl� 16r uridves-onei htirv��( ioinllyon,4 ifoe"00,trJ110i and rrri;)o,4i ony otforncy V ortv"t!'O 0!� 0 111 C'o�wf 1 0, f R at of ' d to oppirt,,,�
0MC nleii ane ex irimcwt of ttie". ocrintly-or si�tv
or i ;,Yi any` at 0,rem, oni %uch covo 01 ony itme hvroltcv, in, teirmt cye V11C o, a 14 on r h
(includirig sirs 'A and to woovtoni Ve
ci to be i0ftPWd crave w -or htrcolli. 1ogVfli'rF wEt'� I'mreiri amd
erallyn „:n foa, of the boldo� *I ih,i� Note, i0ii 1,uch s-i'm 0- m Y ratwf i that v2,d atiorneys mi do' by wtitve
y mntrfvtne proteeAfi,mg,ond coiviterif to 4mirnediiaieexacuiion upon %vch oldigi-rol Of
lecivit all etr01% whii,clii, rima01 thr rm"owirs, orifi gVorcn1,pu% 40,011 hos pitcluce- lrir conje%s.on of jrrd;rncnt ago,insl
filreoP, and ivo6ef oqee 01,1i tl,,e, at any %vck jujgmeri inigointiIi avy er wrier for cantly waives 00 , ri,9ht,,% to ino�e n jQdgmerbi conlei heritiOn, 0 1111 On any fcc`1
anjr 0i at jk%ie mrj�ci ciorid 0i Noi.ohstonJ�nq on proviosion, htieof ew of low, hold
ploprirt, 1,1 sideii of rho un,daFswgrIcd Dr'6ior.
'd �Ob,�, U%,ed 01, PTi cIPLA rit
All of the undeir%ogn-i agree that tl�ey ore each primarily and jointly and severally liable hereon and that the receipt of the consideration hereof byonyone of theundersigned s6allconsvilloo there-
cetpt t"hjrrof by all of The uInJersigno4i; and agree that no release of one or more makers of this Note or of any security, for this Note shall release any other maker. Each of the undgwligned consents
to any orad all renewals of C91tifillsOIns OF this Note.
No delay or ornissil,on on the part of the Bonk in exercising any power or right hereunder shall irr)pair such right or power or be construed to be a waiver of any default Arany acquiescence thrrtein, nor
shall any single Or partial exercise of any power or right hereunder preclude any or full exercise thereof or the exercise of any other power or right.
Every legal holder of this Nole shall have and may exercise all the rights and powers given to the Bonk In this Note and every notice to or act committed by any one of the undersigned shall con-
stitute a notice to or act carmirritlited by all of the undersigned.
DISCLOSURE STATEMENT
SECURITY INTEREST
'Upon defoult, Creditor may acquire a Bert on (311 OSSOS Of the Borrow-
or(s), both fool and personal, except real proporty now used or ex-
pected to be used as his principat.1 residence, by obtaining a jiudgirent
by confession.
In 'cull instances, the Bank has a secur:ity interest for the pzyrrient of
0H property and assets of be 0 essio
.)rro%ver(s) which are in 0i p ss, , , n or
control of the Bunk and a rig"lit of set off in general deposits of bor-
flower(s). This loon is also secured by proceeds and reiturned premiums
of deity casualty instironce and the following described collateral se-
curing prior loans:
DELINQUENCY CHARGE
[',X-j-n(4ucncy chaige oil each instaLlment In default for a period of not less
diall 10 days is 5% of the inst.,Ument or $5 , whichever is leis. In addition,
D-btur is obligated to pay costs arid disbursements, including reasonable
attomeys' fees, Incurred by Batik in legal proceedings to collect the li or
to realize on the security after default.
RIGHT OF PREPAYMENT
Debtor has the right to prepay the loan in full on any installment date
and to receive a rebate of unearned interestXZX5i
" r
4 I" FA
1. Proceeds . .. . . . . . . . . . $ 165,000-00
2. Other ---horges (if any)
Official Fees . . . . . . . $
Credit Life Insurance Premium .. . . . . W $
Credit Disability Insurance Premium # S
Property Insurance Premium oi S, _1652000-00
3. Amount Finance i + 2) . . . . . . . . . . . . $
0
4. FINANCE CHARGE0
, .25
consists of:
Service Charge $
Interest .. . . . . . . . $
Accrues from date of disbursement
5. Totcl of Payments $
ANNUAL PERCENTAGE RATi�Lra,rt:a %
1917
Total of Payments is payable in _X&oMi �c,in'stol4rg.-nts of
$ '8 , 250. 00 each and a final installment OF $ 1 1 81 250 . 00
beginning on, January 14 19 81 and con
tinning on the day of each successive xmm'thereofter until De6tii
ter
note is paid in full. qua
INSURANCE AGREEMENT
Property Insurance may be required by Bank, Debtor may choose the person through whom the insurance is to be obtained. If such insurance is fi
be obtained through Bank, the cost for the term of the credit will be $ � r
Credit Insurance is not required by Bank nor is it a factor in approval of the extension tension of credit, No credit insurance is to be provided unless the
Debtor signs the appropriate authorization below. Group Credit insurance is available for the term of the credit at the following costs:
Credit Life Insurance Credit Disability Insurance $
I desire Credit Life I desire Credit I DO NOT WANT CREDIT
and Disability Insurance. Life Insurance only Life or Disability Insurance.
( D a t f • ) (Signature) (Dote) (Signature) (Date) (Signature)
I (WE) Hereby Warrant and Certify that the proceeds of this loan will be used solely for business purposes only as follows:
Date X Signature Signature
By executing this instrument, the undersigned agrees to all its terms and provisions and ocI.nowledges the receipt of o completely filled in cop)
prior to execution hereof. VILLAGE OF Z,10UNT PROSPECT
100 S. Emerson Street
Address C
(Street)at) a ture
-
�2 60056
X —7T -a —yo r
'L 0 1 t 1 I'8s L L
11 S (Z ip cojel) a atm ;r e
9/12/80
ORDINANCt NO.
AN ORDINANCE ESTABLISHING A BUSINESS
REHABILITATION LOAN FUND AND STANDARDS
AND PROCEDURES IN CONNECTION THEREWITH
WHEREAS, Section 6(a) of Article VII of the 1970 Constitution of
Illinois provides that any municipality which has a population
of more than 25,000 is a home rule unit and may exercise any
power and perform any function pertaining to its government and
affairs including, but not limited to, the power to tax and to
incur debt; and
WHEREAS, the Village of Mount Prospect, Cook County, Illinois
has a population in excess of 25,000 and is therefor a home rule
unit and may exercise any of the aforementioned powers and per-
form any of the aforementioned functions pertaining to its
government and affairs; and
WHEREAS, it is necessary and in the best interest of the Village
of Mount Prospect:
1. To provide for and promote the public health, safety and
welfare;
2 To relieve conditions of unemployment and encourage the
increase of business activity and economic development
of a
3. To encourage the rehabilitation of deteriorating
structures in the business community to promote the
economic growth of the Village;
4. To provide for efficient and well-planned growth and
development of the Village including the elimination
and prevention of urban blight;
5. To preserve and increase the Village's tax base;
WHEREAS, the Village has determined that the availability and
cost of financing for necessary improvements to business struc-
tures makes it imperative that the Village assist the business
community in the Village; and
WHEREAS, the Village proposes to assist the business community
by providing interest subsidies on loans for the upgrading and
rehabilitation of business structures in specified areas with-
in the Village; and
WHEREAS, it is proposed that such interest subsidy program
shall be administered by lending institutions within the Vil-
lage with such lending institutions providing the funds for
such loans and the Village providing an interest subsidy for
such loans; and
2 -
0
WHEREAS, the Village proposes to set aside $75,000.00 to be
used for the purpose of providing interest subsidies as pro-
vided for herein.
NOW, TLHEREFOREI BE IT ORDAINED BY THE PRESIDENT MID BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECTIr COOK COUNTY,
I.-_JLINOIS AS FOLLOWS:
SECTION ONE: Findings. The President and Board of Trustees
of the Village of Mount Prospect incorporate the recitals con-
tained hereinabove as findings of the President and Board of
Trustees of the Village.
SECTION TWO: Definitions. For purposes of this Ordinance, the
following words and terms shall have the following meanings:
A. "Village" shall mean the Village of Mount Prospect.
B. "Corporate Authorities" shall mean the President and
Board of Trustees of the Village.
C. "Person" shall mean any individual, firm, partnership
or corporation.
"Tending Institution" shall mean state or federally
-nartered banks.
E. "Business Rehabilitation Area" shall mean a geographical
area of the Village which has been designated by the
corporate authorities as a Business Rehabilitation
Area.
F. "Business Rehabilitation Loan" shall mean a loan from
a private lending institution to an eligible person for
a Business Rehabilitation Project in a Business
Rehabilitation Area.
C. "Business Rehabilitation Loan Subsidy Fund" shall mean
the fund established by the corporate authorities of
the Village to subsidize the interest Cost of Business
Rehabilitation Loans,
H. "Business Rehabilitation Project" shall mean the repair,
remodeling, refurbishing, rehabilitation and recon-
struction of structuresto be used for business located
within a Business Rehab il itation Area, and any and, all,
costs and expenses connected, therewith including, but
not limited to, architecture fees, englIneering fees,,
materials and labor. ,
SECTION THREE*- Desicmation of Business Rehabilitation Area.
0
...........
A Areas Eligible for Designation. The Corporate Authori-
tles of the Village may designate areas wl"thin the V,11-
laige as Business Rehabil'itation Areas whenever the�
shall find that the area, proposed 'to be designated y con-
tains structures which, are or were used for business
purposes and which are characterized by any three or
more of the following factors:
� 3 -
1. Dilapidation;
2. Obsolescence;
3. Deterioration;
4. Failure to comply with current minimum Building
Code standards;
5. Excessive vacancy rates;
6. Inadequate ventilation, light, utilities and
sanitary facilities;
7. Excessive age;
8. Inadequate physical maintenance.
B. Initiation of Process of Designation
1. The following persons are authorized to initiate
the process of designating an area as a Business
Rehabilitation krea in the Village of Mount
Prospect:
a. Any person, firm or corporation which owns
or operates a business within the Village
and who owns the premises where such business
is conducted; and
b. Any person, firm or corporation which owns
and operates a business within the Village
and who leases the premises where the business
is conducted under a lease of at least the
duration of any Business Rehabilitation Loan
to be requested; and
C. Any person, firm or corporation which owns
the premises of property which is, was or
will be used for business purposes; and
d. Any association acting on behalf of and
authorized by its members, whose members
meet the qualifications set forth in Section
Three Bla, b or c.
2. An application for designation of an area as a
Business Rehabilitation Area shall be filed with
the Director of Community Development and shall
contain the following information:
a. Name, address and telephone number of applicant;
b'01 If applicant owns or operates a business:
1) Name and address of applicant's business;
2) Statement indicating whether applicant owns
or operates such business and the nature of
applicant's interest in such business;
3) Name, address and telephone number of the
owner of the business if not disclosed in
Section Three B2b2) and proof of applicant's
ownership of the premises;
4) If applicant is not the owner of the premises,
written authority from the owner to file such
application and to seek designation of the
area as a Business Rehabilitation Area and
proof of applicant's leasehold interest in
the premises;
5) A statement indicating the length of time the
business has been operated, the length of time
it has been owned or operated by the applicant
and the nature or type of business; I
C. If the applicant owns the premises where a
business is, was or will be conducted:
1) Address of the premises where a businesz
is, was or will bia conducted;
2) Proof of applicant's ownership of the
premises;
3) If a business is being conducted on the
premises, the name, operator and phone
number of such business and a statement
indicating the length of time the business
has been conducted on the premises and
the term, of any lease such business has for
the premises;
4) If a business is not being conducted on the
premises, a statement indicating the present
use of the premises and applicant's proposed
use for the premises including, but not limited
to, the name and type of business applicant
proposes for the premises as well as any
additional information required by the Director
of Community Development in rules published
from time to time;
d. If the applicant is an association:
1) The names, addresses and telephone number
of those members of the association who
satisfy i set forth in
Section Three B2b or c and whose business
or premises are located within the area
proposed for designation as a Business
Rehabilitation Area; I
2) Proof of authorizata".on to act with regard
to designation of an area as a Business
Rehabation Area -
3) The information required under Section
Three B2b or c for the association's members
whosd businesses or premises are located
within the area proposed for designation
as a Buisness Rehabilitation Area;
e. A map showing the proposed boundaries of the
Business Rehabilitation Area;
aTA-4 ;I 04UVA9Taa pup ,apssqoqu m9ap 59TqTaoqqnv
aqL��-iodaoo aqq XuomTqsaq pup uoTqp=o;uT T'vu*
OT04TPPL-")
PTsuOO a94;v P9zV uOT4P4TTTqplqa-d
SSquTSnq v SP Paap up aqeubTsgp 04
aa-qqaqm aului
-2a49P TTvqs Pup uoTssTmmoo uvTd aq4 go suOi4vpuaUa
-Luo0aa aqq MqTAqa TTVLTS SaT.4TaoqqnP aqpaodaoo aqj
- 1043p;
Bons qOP9 BUTqaoddns s40vJ aR4 Pup P94TqTqx9
,oqov; Bons qoP9 q4aO; BUT449S 4U9M9qpqS p JOS
;T J PUP 90UPUTP20 STtjq
go V 99a'ql UOT409S UT
qqaoj qGS S2043s; aq4 ;0 yup 4TqTT4x9 P9ZV UOT4
oq
-P4TTTqPT49U ssauTsnq pasodoad aqq go sa-c,.1ppun'
aq4 UTA aqqqqqLA - q
lBons sv pa4pubTsap aq PTnOqs saaV
uOT*4vlTTTqpx;ajj ssauTsnq pasodoad aqq aaqqaqt4 -P
:Sa944VUI BUTMOTT09 9q4 Oq PIPBaa
q4TM 9bQTTTA 9q4 90 SaT4Taoqqnp aqeacdaoo aqq oq
SUOTqVPU9URUO09a
U944T-TA PavmaO; TTPT4S uOTSSTurmOD uvTd
aq4 4BUTavaq oTTqnd aqq go asolo q a' '
q aaq;p Ssvp
(ST) u9949T; UTMITM -uT19a9q4 P94PDOT SassauTsnq
pup saa-nqon-zqs atlq go aaqovaptlo qqq quTtupxq TTpT4 s
Pup lvaav uoTqeqTTTqvqad ssauTsnq aq4 ;o'saTappunoq
pasodoad aqq MG-rA9a TTvqs UOTSSTMMOD U--eTd aT41
-BUT.'paq a'q4 go 94L-jp Gqq off. :roTad sA'-2p (ST) u@9qgTg qsPGT
4e ?-aaV uOTqe4TTTqvqGH ssaaTsuq pasodoad aqq uTu TM
Pa4POOT SasTuraad ssau7snq go saaumo pup sGssauTsnq
9q-4 04 P9TTPuI aq lTvqs Pup 95eTTTA 9q4 u7tT4Tm uOT4PT
-noaTo Tviauab o-aad-edsmau e uT PaqsT.Tqnd 9q TTvqs
Bu-r-TV9q OTTqTid Bons go aoTqon V9ZV UOTqe4TTTqPT4 ad
ssauTsng pasodoad .yup UO aBVTTTA 9qq
1 0 UOTSSTUIMOD
UPTd aq4 aaogaq pTaT4 aq TT-2qs BuTaP9q oTTqnd v 'T
ao; ganpao0ad
0U0T.4p3T,TddP P949Tdiuoo v 10 BUTTT;
aqq go aqpp aqq tuoa; S�Vp (0 9) �qxTs paeoxe 0-4
4OU a4vP P aO; UOTOSSTOUIMO:) UPTd a'q4 go ppuabp aqq UO
PaaV UOT.494TTTqvtja-d ssauTsnq v S9 Peap pasodoad
aq-4 go UOT4PUBTS9P 9q4 go U014va9PTOSUOO aq4 90VTd
TTgqs quawdoTaAe(j �4TUrlwmoo go aO-409aTG 9q4 'P9TT; ST
UOTqVOTTddv P949Tduioo P aaqgp s,,Kvp (OE) AqaTqq uTTq4Tt4 E
* PqSvq ST
4uamaqvqs Mons qoTqm uodn sqopg aqq pup paav
UOT-avqTTTqpqeU ssauTsnq pasodoad aqq azTa9qovapqo
aouvuTpao STqq go V aeaqj UoTqoas UT qqao; qaS
saoqopg aqq go qoTqm BuTqPOTPUT quamaqpqs V -q
I paav
UOT4v4TTTqvq9U SS9UTSnq pasodoad aqq UTT44TM
P;94POOT SBUTPTTncl SS9UTsnq aqq go uoTqTPuOO
pup 96P aqq 90 PUP ieaap aqq go uoTqdTa-3sqP V 015
'p9ZV UOT4P4TTTqPxja-d ssau7snq
0 4
pasodoad aqq go SaTappunoq aqq uTqqTm Pa4PDOT
sasTumad ssauTsnq go s
laumo PUP sassauTsnq aqq go
sassaappv PUP saumu aqq suTqp0TPuT quaUlqqPqS V -g
-W
- 6 -
corporate authorities determine that an area shall
be designated as a Business Rehabilitation Area,
the corporate authorities shall adopt an ordinance
setting forth the findings required by Section
Three A of this Ordinance and a description of
the Business Rehabilitation Area designated.
4
SECTION FOUR: Effect of besignation. If an area is designated
as a Business Rehabilit-ation Area by the Village, the owners of
structures which are, were or will be used for business Purposes
and which are located wn such Area and owners or operators
of businesses located within such Area with leases of at least
the duration of the Business Rehabilitation Loan to be requested
shall be eligible to apply for a Business' Rehabilitation Loan
as provided for herein, provided that such Business Rehabilitation
Loan is sought for a Business Rehabilitation Project.
SECTION FIVE: Business Rehabilitation Loan Subsidy Fund Established.
7-
jThe corporat, e a ! uthoilties of the Village of Mount Prospect hereb,
establish a fund in the amount of $75rOOO and any additional 'Y
amounts the corporate authorities may authorize from time to
time, to be known as the Business Rehabilitation Loan Subsidy
Fund.
SECTION SIX.- Purpose for Business Rehabation Loan Subsid,
Fund,,. THeBusl' SS-Aehabilitati 11 o n Loan Subsidy Fund, shal
used to pay a portion of the interest charged by lending insti-
tutions for loans to persons qualified for Business Rehabilitation
Loans.
SECTION SEVEN: Admin ' ist " r ' ation of Business Rehabilitation Loans
land Business Rehabilaa�tion Loan Sub�r
Am, It is Pro�)osed that funds for Business Rehabilitation
Loans shall be made available by private lending insti
tutions to eligible persons within areas designated
as herein provided as Business Rehabation Areas.
B,. The Village shall enter into agreements with private
lending institutions to provide de Business Rehabilitation
Loans to persons eligible for such loans under the
provisions of this Ordinance and who otherwise satisfy
such lending institution's criteria for business loans.
Such agreements shall also provide as follows:
1. That such Business Rehabilitation Loans shall be
payable over a period not to exceed ten (10)
years, shall not exceed the principal amount of
$25,000.00 and shall bear interest at the exist-
ing commercial mortgage rate in effect at the
time a Business Rehabilitation Loan is approved
by the Lending Institution.
2. That the Village shall pay one-half the interest
cost of Business Rehabilitation Loans up to a
maximum of six percent (6%) of the interest cost
of such loans approved for five years or less or
up to a maximum of seven percent (7%) of the
interest cost of such loans approved for six
to ten years in duration, provided that the Village
has sufficient funds in the Business Rehabilitation
Loan Subsidy Fund and further provided that the
Plan Commission approves the Business Rehabilitation
Project and the lending institution approves the
Business Rehabilitation Loan.
~ 7 -
3. That any funds provided by the Village from the
Business Rehabilitation Loan Subsidy Fund to a
lending institution to pay a portion of the
interest cost of a Business Rehabilitation Loan
as hereinabove provided shall be deposited in an
interest bearing account, certificate of deposit
or other type of investment or fund in which
municipal funds may lawfully be deposited and
invested so that such funds accrue the maximum
interest possible. Such funds along with the
interest thereon may be automatically withdrawn
by the lending institution to pay the interest
subsidy on a Business Rehabilitation Loan at such
times as the parties may agree.
SECTION EIGHT: Procedure for Obtainin Business Rehabilitation
Loans. An a�p plicat"I__Oh for a Bus' 9 .. . . . .......
iness Rehabi—Titat'lon "Loan, shall
be f iled with the Director of Community Development of the Village
of Mount Prospect, shall be accompanied by a nonrefundable
application fee of $25.00 and shall contain the following
information:
id Namef address and telephone number of the applicant;
If
2. The information required under Section Three B2b or
c;
3. The design and engineering plans for the
rehabilitation work planned;
4. A statement indicating the factors set forth in
Section Three A which the premises 'for which th�;
Business Rehabilitation Loan is sought exhibit
and the facts supporting such statement;
5. The completed Business Rehabation Loan
application from the lending institution from
which applicant will seek the Business
Rehatation Loan. 4
B. The Director of Community Development shall review a
completed application for a Business Rehabtation
Loan within thirty (30) days afterit Is filed and
place it on the agenda of the Plan Commission and if
the loan is requested for a Business Rehabtation
Project located within the geographical area under
its jurisdiction, the Board of Downtown Development
and Redevelopment Commissioners, for consideration
within siixth (610) days after the date the, completed
applicatiLon is filed. The Director Of CommunJi-ty
Development shall forward, its recommendations, and
comments andl if applicable, the Board, of Downtown
Development and Redevelopment C,o,mmissioner,s on the
application, to the Plan Comm ss *
C. The Plan Commission shall review the completed
application for a Business Rehabilitation Loan and
the recommendations and comments of the Director
of Community Development and, if applicable, the
Board of Downtown Development and Redevelopment
Commissioners. The Plan Commission shall determine
whether to approve�a Business Rehabilitation Loan
based upon the following:
1. Whether the Business Rehabilitation Loan will
be used for a Business Rehabilitation Project;
2. Whether the Business Rehabilitation Project
proposed is consistent with the purposes of this
Ox-dinance;
3. Whether the Business Rehabilitation Project
is consistent with the character of other
Business Rehabilitation Projects or other
redevelopment within the Business Rehabilitation
Area,
D. Before an applicant shall be eligible to receive a
Business Rehabilitation Loan it must first be approved
by the Plan Commission and then by the lending
institution.
SECTION NINE: Severabilil;y_Clause. If any provision or part
there0f OFThis Ord-l—nance is A clired invalid and of no further
force and effect, the other provisions of this Ordinance shall
remain in full force and effect.
SECTION TEN: Effective Date. This Ordinance shall be in full
force and effect from and after its passage, approval and
publication in the manner provided by law.
Passed this day of 1980.
AYES:
NAYS:
ABSENT:
Approved this day of 1980.
Village Proes id—en-t
Attest:
Village Clerk
9/112/80
FAI[
This Agreement made and entered into this day of
1980 by and between the Village of Mount Prospect an
Illinois Municipal corporation (hereinafter referred to as the
"Village") and a
(hereinafter referred to as the "Lending Institution")
WITNESSETH:
WHEREAS, the Village of Mount Prospect is an Illinois
home rule municipality under Section 6(a) of Article VII of the
1970 Constitution of Illinois and as such, the Village may exer-
cise any power and perform any function pertaining to its govern-
ment and affairs; and
WHEREAS, the Village of Mount Prospect has determined
that it is necessary and in the best interest of the Village of
Mount Prospect to create a Business Rehabilitation Loan Subsidy
Fund to assist the business community in the Village to upgrade
and rehabilitate business areas within the Village which are
located within Business Rehabilitation Areas of the Village, all
as set out in Ordinance No. entitled "An Ordinance
Establishing a Business Rehabilitation Loan Fund and Standards
and Procedures in Connection Therewith" passed and approved by
the President and Board of Trustees of the Village of Mount Prospect
on 1980; and
WHEREAS, is a
which is authorized by to grant loans for various
purposes including business rehabilitation projects; and
WHEREAS, has determined that it is
in the best interest of both and the Village
of Mount Prospect to participate in the Business Rehabilitation
Loan Subsidy program developed by the Village of Mount Prospect
and set forth in said Ordinance No. ; and
WHEREAS, the Village and the Lending Institution have
0
determined that it is to their mutual benefit as well as to the
benefit of the business community to cooperate to provide Business
Rehabilitation Loans under the terms and conditions set forth in
this Agreement,
NOW THEREFORE, for and in consideration of the mutual
covenants herein made and pursuant to the Provisions of Ordinance
No. of the Village, the parties do hereby enter into the
following Agreement:
Section One: Definitions.
0000 4
For purposes of this Agreement., the following terms shall
following -v-e the follow4ng mean-;ngs:
A. "Business Rehabilitation Area" shall mean a
geographical area of the Village which has been
designated by the corporate authorities as a
Business Rehabilitation Area.
B. "Business Rehabilitation Loan" shall mean a loan trom
the private lending institution to an eligible person
for a Business Rehabilitation Project in a Business
Rehabilitation Area.
C. "Business Rehabilitation Loan Subsidy Fund" shall
mean the fund established by the corporate authorities
of the Village to subsidize the interest cost of Business
Rehabilitation Loans .
D. "Business Rehabilitation Project" shall mean the
repair, remodeling, refurbishing, rehabilitation and
reconstruction of structures to be used for business
located within a Business Rehabilitation Area and any
and all costs and expenses connected therewith includ-
ing, but not limited to, architecture fees, engineer-
ing fees, materials and labor.
E. "Person" shall mean any individual, firm, partnership
or corporation.
-OW 3 -
Section Two: Business Rehabilitation Loan Subsidy Fund
The Village shall deposit with the Lending
Institution to be known as the Business Rehabilitation Loan
Subsidy Fund. Such funds shall be invested in an interest bear-
ing savings account, certificate of deposit or other type of
investment or fund in which municipal funds may lawfully be
deposited and invested so that such funds accrue the maximum
interest possible consistent with the provisions for withdrawal
of such funds as are set forth in this Agreement,
Section Three: Purpose for Business Rehabilitation Loan
Subsidyfund
The Village shall deposit such Business Rehabilitation Loan
Subsidy Fund with the Lending Institution by 1 1980. Such
funds may be used by the Lending Institution to subsidize to
the extent provided for hereinafter, the interest cost of
Business Rehabilitation Loans pursuant to the provisions of
this Agreement.
section I -our: rocedure for Lending Institution's Approval
L, -
or Disapproval of Business Rehabilitation Loans
A. The parties agree that the Lending Institution may
only authorize Business Rehabilitation Loans for Business Rehab-
ilitation Projects which have been approved by the Plan Commission
of the Village of Mount Prospect.
B. The Village shall forward completed applications for
Business Rehabilitation Loans to the Lending Institution within
ten (10) days after the date the Plan Commission approves a
Business Rehabilitation Project.
C. The Lending Institution shall approve or disapprove
such Business Rehabilitation Loan application in accordance with
the standards generally applied by the Lending Institution in
determining whether to approve or disapprove similar business type
loans and shall send written notice- to the Village and the applicant
of its decision within five (5) days after such decision is made.
D. The Village agrees that the Lending Institution may
make secured or unsecured Business Rehabilitation Loans.
Section Five: Business Rehabilitation Loans
A. The Lending Institution agrees to make funds
available to qualified applicants for Business Rehabilitation
Loans. The Village and the Lending Institution titution agree that
individual Business Rehabilitation Loans shall be payable over
a period of not to exceed ten' (10) years, shall not exceed the
principal amount of $25,000.00 and shall bear interest at the
existing commercial mortgage rate in effect at the time a
Business Rehabilitation Loan is approved by the Lending
Institution.
B. The Village agrees to pay one-half the interest cost
of each Business Rehabilitation Loan authorized by the Lending
Institution up to a maximum of six percent (6%) of the interest
cost for such loan approved for five years or less or up to a
maximum of seven percent (7%) of the interest cost of such loans
approved for six to ten years in duration, as long as there are
sufficient funds in the Business Rehabilitation Loan Subsidy Fund
to pay such interest. The Business Rehabilitation Loan Subsidy
Fund and the interest thereon are hereby assigned and pledged to the
Lending Institution to pay the portion of the interest cost of
Business Rehabilitation Loans provided for herein, subject to
the provisions of this Agreement. The Village agrees that the
monthly portion of the interest the Village is to pay on each
loan shall be calculated at the time each Business Redevelopment
Loan is authorized and written notice thereof mailed to the
Village by the Lending Institution. The Village hereby authorizes
the Lending Institution to withdraw such monthly portion of the
interest from the Business Rehabilitation Loan Subsidy Fund on
a monthly basis.
- 5 -
Section Six: Release of Business Rehabilitation Loan
Subsidy Fund.
Any portion of the Business Rehabilitation Loan Subsidy
Fund not committed for the payment of a portion of the interest
on Business Rehabilitation Loans authorized by the Lending
Institutionat the end of the term of this Agreement shall be
released by the Lending Institution from the assignments and
pledges by the Village in this Agreement and shall be subject
to disposition by the Village in any manner it may choose.
4. #-�
Section Seven: Reports
The Lending Institution shall provide the Village with
a written report containing the following information by Jan-
uary 1 and July 1 of each year during the term of this Agree-
ment and thereafter until each Business Rehabilitation Loan
A. A list of each Rus.'Lnless Redevp.lonment Loan nutstand-
ing,, the remaining term of such _]-nan, the principal amounts to be
paid and which remain to be paid on such loan, the interest paid
and which remains to be paid on such loan by the borrower, the
interest paid and which remains to be paid on such loan by the
i
B. A list of the Business Rehabilitation Loan's which
have been satisfied in full;
C. A statement of the interest earned on the Business
Rehabilitation Loan Subsidy Fund and w1thdrawals from such Fund;
D. Such other information as the Village may reasonablA
'I- A
Section Eia-htt: Term
The term of this Agreement shall be two years from and
after the date hereof.
Section Nine: General Provisions
A. Any notices or reports required by this Agreement
shall be mailed or personally delivered as follows:
Vi loge
Terrance L. Burghard
Village Manager
Village of Mount Prospect
Village Hall
100 S. Emerson Street
Mount Prospect, Illinois 60056
Lendi,n,2 Institution
B. This Agreement contains the entire understanding
between the parties and each understands and agrees that no
other representations have been made by either to the other.
IN WITNESS WHEREOF the parties hereto have caused this
Agreement to be executed on the day and year first above written.
Village of Mount Prospect
By:
10 President
ts 10,
Attest-:
By:
Vill—age clerk
By: Its:
Attest:
By:
Its:
COMMITTEE REPORT
To Mayor & Board of Trustees
From
Trustee E.F. R_*1chardson, Chairman
Legislative/Judicliary Com mittee
Subject Le, ]*-slatl*ve/Judl*cl*ary Committee ti Mee
9/18/80 Ling
Date September 19, 1980
The meeting was called to order by Chairman Richardson at
8-00 P.M. In attendance were Chairman Rilchardson Trustee
Farley, Trustee Wattenber&,, liPublic Works Director Herb Weeks
Assistant Village Manager Ed Geck and Pam ods. from the N11ountr
Prospect Journal.
1980 Street Lighting, Program:
The Commlittee took 'a tour of siftes 'in l the locaarea to
review different types of street 1l'gbti*n,g and to study areas
where additional street lighting may be needed. Several of
the sites that were reviewed are as follows-,
1) Northwest Highway from Central to Waterman;
2) The intersection. of Old Wilkie Road and New Wilkie
Road between Arlington Heights and Rolling Meadows -
3
3) The Arliington Heights Road, Palatine Road and Rand
Road intersection;
4) Residential street lighting on Seneca Lane
Burning Bush Lane, around Indian Grove School
Y
Carib Lane Sitka Lane I Tano Lane and Wolf Road;
5) Rand & Central intersection*
6) Golf Road @ Rt. #83-
7) Oakton Street @ Rt.#83
The Committee requested that the staff contact local
homeow-ners associations in the "nei,,7 town" area of Mount
L_
Prospect to determ-ine their interest in particiDating in a
program for the installation of additional street lia ti
C>h i n1cr
J- 0 the
their areas. Rather than mak a recommmendat"
C> L Lhe
Village Board regarding street ligbIC-linc" On Nor t:1_11.0eS t H = c- hw a y
C>
and in the Busse -Willie area,, the Committee has dec-:ded to
L
hold off until comments have been received baclk- froa, the
homeowners associations and can be sLud1ed at the ComimiLtee' s
October Meetin!z
Adjournment-.
Chairman Richardson adjourned the meeting at 9,-45 P.14.
E.F. RICHARDSON
EFR/cdf
. . ...... . ...................
ro
VILLAGE OF MOUNT PROSPECT
COMMITTEE REPORT
TO: MAYOR & BOARD OF TRUSTEES
FROM: TRUSTEE THEODORE J. WATTENBERGr CHAIRMAN, PUBLIC
HEALTH & SAFETY COMMITTEE
SUBJECT: PUBLIC HEALTH & SAFETY COMMITTEE MEETING SEPTEMBER 25,r_1980
TIME*- 8:00 P.M. TRUSTEES COMMITTEE ROOM, 100 SOUTH EMERSON
PRESENT-. Chairman Wattenberg, Trustee Farley, Trustee Murauskils
STAFF R. J. Donev, Chief of Police
PRESENT T. Daley, Commander, Police Department
P. Luehring, Director' Health Department
B. Hemmeterr Village Engineer
VISITORS David Schein, O'Hare Airport Noise
PRESENT: Judy Nelsonr Busse PTA
Pam Oddi, Mount Prospect Journal
A. Taxi -Cab Rate Increase 4/24/80
No action taken on this charge since deposition was made by the full Board
at the September 17, 1980 meeting.
B. Traffic Code Amendments 9/27/80
1. Stop Sign Requests:
a. Crestwood & Martha Lane
b. Wheeling Road & Business Center Drive ( Rauenhorst)
Decision unanimous that both requests be submitted to the full Board
for approval
PUBLIC,HEALTH Cie 'SAIFETYOMMITTEESE' PTEM13ER 25t, 1980' 2,
B. Traffic Code Amendments ( cont.
2. 'Traffic Signal Installation /, Euclid & Wheeling Road
After discussion on this matter, it was agreed that the installation
of the Traffic Signal would be a pending matter until all facets of
the situation have been resolved.
3. Jr. niql*- Pari Situation and Traffic 2 h estion on Ioo st Boulevard
between - Crestwood - and 'Deb6rah
Decision unanimous that there be "No Parking" in said area and that,
recommendation be made to the full Board for their approval*
4.- Addition to Traffic" CodaSection LB -1.303, �Ato G --
Addition for consideration:,,
No Parking Anytime on Any Berm,, Shoulder or Parkway Adjacent to
Any Roadway
Decisi unanimous 'on unan` us that this addition be made to the Traffic Code and
that recommendat'on be made to the full Board for their approval of same.
5. AdditionalM-gest made to the Ccs miftittee.',b� d- > Nelson of 115 S. Owen,
i "Busse, PTA'Associ t*
representing the a -ion:
M
Mrs, Nelscnrequested that the Committee consider the erection of a Stop
Sign at Owen & Busse 'due to the school and the park in that immediate,
area, She further stated that recently three accidents had occurred
in the immediate vicinity and she felt a Stop Sign would be the solution
to what she termed a dangerous situation. The matter was referred to
the Safety Commission and Mrs. Nelson was requested to check with the
Village Clerk to ascertain the date of that meeting. Mrs. Nelson was
informed by those present that they believed the muting would be at
7:30 P.M. on October 6, 1980.
R M, A ( Loss Prevention
A report was submitted to the Committee from Martha Peppler, Director
of Management Services informing the Committee that the Village has
had Liability, Worker's Compensation and Property Damage coverage from
IRMA since June 1, 1979. The report continued with a brief explanation
of claims submitted within this time and the monetary payments made and
savings incurred. This report was submitted at the request of Chairman
Wattenberg.
Chairman Wattenberg and the Committee members did not feel that this
report reflected a true picture of the IRLMA program and requested that
Martha Peppler prepare and forward to the Committee as soon as possible
a report which disclosed the exact loss ratio in the year 1979, what
the Auto Liability figures are, what the General Liability figures are, etc.
PUBLIC HEALTH & SAFETY,COMMITTEE MEETING SEPTEMBER 3.
C. I, R,M A ( Loss Prevention cont.,,
Chairman Wattenberg and the Committee members requested that this report also
clearly depict the total losses and injuries to the Village since its inception,
and show the,comparison to the prior years when I R M A was not in effect.
Animal Control 80
Pat Luehring, Director of Health Services for the Village of Mount Prospect
P
a report he prepared concerning the Animal Control Program. Briefly,
Health Department was receiving
in said report, Mr. Luehriing stated that the
an increasing numb erof animal complaints which he felt were requiring trine
that could be better channeled on higher priority programs such as Restaurant
dat* e made in the report to the effect that
Inspections, etc. Recommendations were I'
the Health Department would act as a referral agency and refer callers to
rt-ment would act in the capacity of con-
prirate industryr and the Health Depa
sultanas to those individuals who wished to remove the animals themselves.
It was also mentioned -in -the report that the Health Department would loan
out traps, but individuals must bait the traps themselves and remove - the
animals to a Forest Preserve themselves. It was recommended that distribution
0
would be made to individuals informing them on animal proofing and baiting
procedures, along with a list of professional animal removers.
A lengthy discussion ensued concerning this charge. Chief Loney nformed
the committee that at the present time, and accord -Ing to Ord l ' nanceimatters
of this procedure do come under the Health Department's jurisdiction. Chief'
honey further 'informed thea committee that the Police Department is, in 'Itself,
heavily involved also in the Animal Control Program.
It was recon -mended that some. type- of a separate Animal Control Program
be developed, and that village Manager Burghard study and review this
situation. The Committee ,requested that P. Luehring and Commander Daley
compile a report for submission to the village Manager for his input into
es involved
the situation. This charge will be deferred until all parti1
prepare and submit their reports to the Committee for review.
E. O'Hare, Airpq2Lt Noise 2/25./80
Pat Luehringr Director of Health Services submitted to the Committee for their
review a report he had compiled'concerning the O'Hare Airport Noise Pollution
Litigation and the cost to the Village of mount Prospect to join the N.O.I.S.E.
program.
Mr. David Schein of 512 NaWaTa was in attendance as a private citizen to express
his opinion and view on this matter. He informed the CommIttee that he felt the
Village has experienced many amenities because of their location in relation to
O'Hare Airport, and he felt that the Village should take this into consideration
before taking any further action. Mr. Schein further informed the committee that
he felt many individuals relocated their residences within the Village due to
the fact that they were living in such a close proximity to the Airport. He
felt that O'Hare definitely enhances business and personal opportunities for those
resi *dents of the Village of Mount Prospect.
E. 'O'Hare AI' rport_Nolse 9/25/80 (cont.) 40
The Committee was informed that the Board of Health suggested any action
as far as costs incurred for various NOISE studies be deferred at this time
since the FAA is compiling a report which will be available in the near future
to all concerned at no cost.
P. Luehrl nq informed the Committee that he will be attending a four day seminar
pertaining to this matter and he felt after the seminar he would have more input
into the situation and report same to the Committee.
After further discussion,the Committee agreed to keep this charge in Committee
and to monitor the situation,
F. Fanslow Civil..,,Righ'ts,", Suit 9,,L21,5/.80
Trustee Wattenberg requested this charge,be placed in Committee and the
Trustees be informed on the pending Civil Rights Suit against the Village
of'Mount Prospect by the Fanslow Construction Company. The Committee was
furnished with a memorandum from the Law Firm, Ancel, Glink, Diamond and
Murphy which is representing the Village in the suit.
Trustee Wattenberg with the concurrence of his colleagues was very distressed
at several aspects of this particular suit. Trustee Wattenberg specifically
stressed the fact that the Trustees were never notified by the Plantiff's
attorney of any wrong doing. Also, he along with the other Committee members
felt that our attorneys in this case were very remiss in not informing the
Trustees what action is being taken, what the progress of the sui-t.. is, and,
why there was not some type of settlement made prior to this being initiated
into a law suit,. Trustee Wattenberg also mentioned that- he and the Trustees
want to be informed if any monies already exj)ended in this suit would be
refunded to the Village upon settlement.
The Committee directed that Martha Pepplert Director of Management Services
contact our attorneys for this matter and have them prepare for the Trustees
a report, in common language, explaining all of the aforementioned aspects
and have this report forwared to the Trustees "Immediately. (report to be concise)
G. Police -Dep rtment Facilitx Stud x
9'25/80,
Chairman Wattenberg stated that he was quite 'impressed w"Ith the study completed
by the Illinois Department of Law Enforcement which expressed a need for ex-
pansion and improvement in the current Police Facility, and also stated that
consideration should be given to the expansion of the Facility in the near
future. Trustee Farley agreed that there was such a need and suggested that
monies be placed in the 81-82 Budget for a private concern to compile a study
for the future needs of all public buildings police, fire, public works ).
After further discussion the Committee agreed to recommend to the full Board
that monies be allocated in the 81-82 Budget for this facility study.
PUBLIC HEALTH & SAFETY COMMIT'T'EE MEETING SEPTEMBER s ' 1980 5.
H. Pending: Items , of Concern: .
A. NOR'TRAN ( North Suburban `Ma�,q `''Transit District ° 2/6/80
Awaiting report from pillage Manager
B. Universal Handicaped Park' Ordinance 6j��j84
Awaiting updated report from Legal Counsel
C,� Bicycle Safety for. Communters
Awaiting furtherimplementation subsequent to the hiring of a, Traffic
Engineer.
I. New Business
LEGALESE
Pending Bill initiated by Roger Keatst Republican State Senator from
Wilmette, Illinois which basically was adapted for the concept of having
laws rewritten into common and understandable English so as to benefit
all by their simplicity.
The Committee made a recommendation to be presented to the full Board
that a memorandum be issued in support of Mr., Keats and his Bill, and
further that the Northwest Municipal Conference be directed to also
initiate support of this Bill.
Theodore Wattenberg,
ADJOURNMENT 10:05 P.M. Chal rma.n
T►7W/g'al
9/19/80
ORDINANCE NO.
AN ORDINANCE AMENDING SECTION
18-1303 OF THE • CODE
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS AS FOLLOWS:
SECTION' ONE: Section 18.1303A2 of Chapter 18 of the Municipal
Code of the Village of Mount Prospect be, and the same is
hereby amended by adding thereto a new subsection g, which
said new section shall hereafter be and read as follows-,
Section 18.303A.29
Upon any berm, shoulder or parkway, excluding
driveways, adjacent to any roadway.
SECTION TWO: This Ordinance shall be in full force and effect
from and after its passage and approval in the manner provided
by law.
Passed this day of 1980.
AYES:
NAYS:
AB SENT
Approved 'this day of 1980.
Approved:
Village President
Attest. -
Village Clerk
.... . .
" 411�11
aspect
o u nt r L
Moiint Prospect Illinois
V, I?
INTEROFFICE MEMORANDUM
TO: Terrance L. Burghard, Village Manager \-N
F R OM Kenneth H. Fritz, Community Development Direci:_-or
SUBJECT: Planert's Resubdivision L
DATE: October 3. 1980
Planert's Resubdivision is a result of consolidating one and
one half at cat /2 t 1, and 1of Lot 2) into one 75'foot wide
to with a depth of 157 feet. The proposed resubdivision is
located at the Southeast corner of Wille Street and Sha-bonee
Trail.
The Village staff has reviewed the proposed re'subdivision and
find that it complies with the Development Code -of the "Village
of Mount Prospect, and therefore recommend its approval. The
Village Engineer notes that all public improvements have been
installed.
The Village Plan Commission recommended approval of the re-
subdivision and authorized Chairman Ross to. sign.the.-final.-
0) at provided -that i
the other signatores complete..the signing
of the document,
KHF : hg
cc"* Chairman Harold Ross
Herb We
Carol Fields
qjju
m
wq
'd 44
. .......... .
goo ewdim a "O),
IP
. .. ......
•
. ............... . .....
Village of Mount Prospect
M�otint 1"rospect, lllhio'�s
INTEROFFICE MEMORANDUM
TO Terrance L, Burghard, Village Manager
FROKenneth H. Fritz , Community Development Director
MI:
SUBJECT: Rauenhorst Resubdivision II
DATE: October 31 1980
Rauenhorst Development Corporation has proposed a resubdivision
involving Lot 6 of Phase II and Lot 8 of Phase I. The re-
subdivision is being proposed to permit additional off-street
parking for the development of Lot 8 in Phase I by transferring
the Westerlv 23 foot portion of Lot 6 and incorporating it with
Lot 8 in Phase I.
The Village staff departments have reviewed the proposed re-
subdivision and find that it is in compliance with the
Development Code of the Village of Mount Prospect, The Plan
Commission recommended approval of the resubdivision and
authorized Chairman Ross to sign the final plat provided that
the othersignatories have completed signing.the document.
KHF : hg
cc: Chairman Harold Ross
Herb Weeks
Carol Fields
o f o n t r% -u 1 s e c t
e irt, n
INTEROFFICE MEMORANDUM
To $: Terrance L. Burghard, Village Manager
FROM*- Kenneth H. Fritz, Community Development Director
SUBJECT.- Rauenhorst Resubdivision IV
DATE: October 3, 1980
Rauenhorst Development Corporation has proposed a resubdivision
of the portion of Phase II of their Kensington Center for
Business. This resubdivision involves the resubdivision of
Lots 2 and 3 in Phase II. They' propose to add 101 feet to the
Southerly limits of Lot 2 by transferring the North 101 feet
from Lot 3. Lot 3 would be reduced to 2.95 acres in area still
above the minimum lot area as agreed to in the annexation
agreement of 2.7 acres.
Rauenhorst Development Corporation intends to build two
buildings on the property as soon as building permits can be
obtained, provided the resubdivision is approved by the Village
Board,
The Village staff departments -have reviewed the resubdivision. -
of Lots 2 and 3 in Phase -II and -find it to be in compliance
with the Development Code of the Village of Mount Prospect.
The Plan Commission recommended approval of the resubdivision
at their October Ist meeting and authorized Chairman Ross to
sign the final plat provided the other signatories completed
signing the document.
KHF
:h
CC1.0 Chairman Harold Ross
Herb Weeks
Carol Fields
a a OT V,
a u n t 1;
MoLjint Pr-ospect, Illinois
. . . . . .... ..... ...
K
INTEROITICE MEMORANDUM
TO: Terrance L. Bur and, Village Manager
FROM: Kenneth H. Fritzo Community Development Director
SUBJECTI: aur hog Identification Signs
DATE: October 3, 1980
Rauenhorst Corporation has submitted to the staff conceptual
identification sign plans including landscaping treatment
for their development,-, One sign is proposed to be located
on private property at the main entranceway Northeasterly
of the intersection of Business Center Drive and Rand Road.
The second identification sign is proposed to be located
on public right-of-way South of Kensington on the East side
of the Wheeling Road right-of-way some ten feet South of the
Kensington public right-of-way line.
The Community Development staff has met with the Public Works
Director, regarding the general location of the identification
signs and subject to minor modification are in general agree-
ment with the size 'and 1obation of - the identif ication- signs
The principal concern -of staff has been -that the size of the
sign,would,be within_reasonalimits-as per our propose _ -
sign ordinance amendment (180 square feet) and the traffic
safety aspect with rega.rd-to the exact location of the signs.
Attached to this memorandum is a copy of the conceptual plans
for sign location and1andscaping.-
The staff will be meeting with Rauenhorst on Monday, October 6th,
to discuss final refinements of these designed plans and will
therefore -be able to give a.ate-"-report;--.--regarding any
modifications at the Board Meeting on October-7thb
MMOM]
Herb -Weeks
Carol Fields
ORDINANCE NO.
AT4 ORDINANCE AM -ENDING THE SIGN
ORDINANCE OF THE VILLAGE OF
MOUNT PROSPECT
WHEREAS, in an Annexation Agreement dated May.6, 1980 by
and between the Village of LXount Prospect, an Ill, linois munac,1-
pal corporation (here in,af ter referred to as the "Village") .,
American National Bank and Trust Company of Chicago, a national
banking association, not Individually,. but solely as Trustee
under a Trust Agreement -dated February 10,
1979 and known as
Trust No. 45771 -and the beneficiarly thereof, .Northern Illinois
Gas Company, an Illinois corporation (referred to hereinafter
as "NI -Gas") and the Rauenhorst.Corproration, a Minnesota
corporation, the Village has"agreed -to amend the sign regulations
of the Municipal Code of'the Villaae ref Mount Prospect, Article IV
of Chapter,9 of thenMunlicipal Coder tO'include a definition of
iden
ti fiic,a,tion, s, , igns in said Article,"to permit identification
I-1 'Industrial Light Distri 't under the Village of
signs in, the, c
Molant Prospect Zoning Ordinance and to provide regulations for
such signs; and
WHEREAS, -the President and Board of Trustees of the Village of
Mount- Prospect find that it would he in the best interest of the
Villa"ge to amend-- the - si.gn -pro
visions of Article, IV of Chapter 9
of the Municipal Code of'the Village of Mount Prospect as'set
forth hereinafter,
NOWr THERE -FORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE -OF MOUNT PROSPECTf-COOK COUNTY, I I LLINOIS
AS FOLLOWS:
SECTION ONE Section, 9.401B, of Article IV of Chapter 9 of the-
Municij5a_l_�Code of the V11,11age of Mount prOspect be, "and the
,same is hereby, amended by deleting' therefrom the language
"Board, of ApPeals of 'the Village" from said Section, and inserting
in Its place the language, "President 'and Board of Trustees of
the Village so that said 2.
as follow8lo Section shall,.hereafter--be and --.read
Section 9.401BO No person shall hereafter er"ectr construct,
,relocate,,, str,-ucturally' alter or maintain any sign', bill.
ice a
,board or advertising devi s defined herein, on or. -over
public Property wiithou1,rst having obtained prior permis-
,s 11on from, 'the -President, a'ind, Board 'of Trustces of the Village
SECTION TWO: Section 9.406 Of Article IV of Chapter 9 6f the
MuniC_i_Pa�1bode of the Village of Mount Prospect be, and the same
is hereby, amended'by adding thereto in itsproperalphabetical
sequence the following language:
.0
Identification Sign. A sign giving the name an
dl if
desired, the addre*ss of a development consisting of at
least five business establishments and located on a lot
or lots of at least 20 acres. Such sip may y
,
be-wholl
or partly devoted to a readily recognizable logo
trademark or . other identifying symbol* "
SECTION THREE: Section 9-407H of'Article IV of'Chapter 9 of the
Municipal Code of the Village of Mount Prospect be, and the same
is hereby, amended by renumbering and relettering the existing
subparagraphs of said Section to the following:
"Section 9..407H,*. Sign*s in Industrial District:
1. Within the I-1 Industrial DisAL--v,--ict and the 1-2 Railroad
District signs are permitted subject to the following
regulations:
a,.' The total surface of all business signs on a lot
shall not exceed four (4) square feet for each
lineal foot of building frontage in the I-1 Industrial
District and two (2) squal,.-e 'feet for each lineal foot
of building frontage in the
1-2- Railroad District.
b. Advertising signs shall be permitted only upon unim-*
proved lots in the I-1 District and shall not be per -
nutted in- the 1-2 District. Advertising signs in the
I-1 -District shall be as regulated in the B-3
Business District.
c. Projecting signs provided the same do not project
more than thirty six -inches- (36") from any buil .diner.
1. 'Shall not- extend -=over property- line".
2. Shall -not exceed, -.the' sum -of sixteen J16) square
feet.
d. The height provisions 7Distr'lct
-of the Business -
shall .apply to.the ' industrIal- district. 11
and ---adding to said Section a new subsection containing 2 cont "'ning the fol-
lowing. language:
2. in'the I -I, Liaht--Indus'tri,&J. -Di-strict identification sions
shall be permitted subject to the following.
a.,
Such, signs.-,- shall 'beno more: than twelve (l2),1*feet-_in
-
height ---mteasuredz -fro _ the- grade -(if -the curb..
b .Such signssteal l be no larger than 120 srTuare
feet per sign faceprovided,- however, that in
• any develoDment-which=,:excelz%d,,,s-;-120 -acres-, an
additional one square -foot per sign face - shall
bepermiitted'_-�-P--
- _,!:wr- each additiona.l°--acre of
such-
deve lopm'ent up - to, a, _Tnax-
;LM L um. of 3 0 C1 . square .feet
per -gign.
C. Such signs may be illuminated .directly- or indirectly
provided that the source of such-- illumination cannot
be seen from any residence or residential area.
d. The location of ground identification signs shall
be sub3ect to the following. -
Such signs sjhall be set back at least twelve,
feet, from eacb lot line of the property o
'. however,
that such sAL'gns locat,ed on corner lots sball
not be located within a, triangle formed 'by
conneiating the property injes of such corner
lot whiichh abut, any two right-of-way lines of
)any intersecting streets. The length of tbe
triangle leg 'measured along, su) I n properrv? 1 i,ne,
>'hall be twenty-five (25'1 feet*
- 3 �-
2. Suchsigns may be located in public right -of -
way i1c authorized by the Presdent and Board
of Trustees provided, however, that no so such
sign shall be located in public right-of-way
if the President and Board of Trustees
dete=kine that such sign would obstruct, impair
or interfere wlo4L--h traffic or sight of traffic
and further provided that the Village may
revoke any such authorization given pursuant to
this provision at any time and further provided
that the owner of such sign shall enter into
a release and indemnification agreement acceptable
to the Village Board and Village attorney prior
to the erection of any such sign which is
author *1 zed
so that said Section, shall here-a1z"er be and read 'as follows--.*
"Section 9.407H. Signs in Industrial District:
1.' Within the 1-1 Indus a! District and the 1-2 Railroad
th
District signs are per -mit -t --ed subject to the following
regulations:
. .0
The total sur -face of all business signs on a lot
shall not exceed four C4) square feet for each
lineal foot of building frontage in the 1-1 IndusiC-1rial
District and two - (2) square. feet .for 'each lineal foot
of building frontage in the 1-2 Rail -cad District.
b. Advertising signs shall be permitted only upon uni-m-
oroved lots in the 1-1 District and shall not be
mitted-1-in the 1-2 Dist-ri'ct. Advertising signs -in the
!-I D-lis-trict shall be as regulated in the B-3
Business District.-
4 -
c. Projecting signs provided the same do not project
,
more than thirty six inches (36") from any build-ing.
1. Shall not ex -tend over property line. -
2. Shall not exceed the, suzi of sixteen (16) square
A
feet .
d."Thi height provisions of the B--.3 .Business - Di s -'Ltr ict-
shall apply -to the industrial district.
2. In,the I-1 Light Industrial District- i'dent-ificiat-ion signs
'11 be per�,`-o the fitted subject ollok4ing:
s.11 t- L_ L_ J_
Such signs shall be no more than twelve (12) feet in
height measured from -..--he grade of the curb.
b. Such signs si-lall be no larger than 120 square
feet per sign face provided, however, that in
any deve-lopment which exceeds 120 ac -res, an
additional one square foot per sign face shall
be permitted for each additional acre of such
development- up to a maximum of 300 square feet'
per sign face.
C., such signs may be illuminated directly or indirectly
-
orovided that the source of such.. illumaination cannot
be seen from any residence or residential area-
4
d., The location of around identification signs shall
be subject to the foilowing
:
• Such signs shall be set back at least twelve
feet from each lot line of the Property on
which such sign is located provided, however,
that such signs lolC
caed on corner lots shall
not be located within a tr,iangle formed by
connectiLng the Prot),erty lines of sUch corner
lot XI -4 �a
b an to
a Y ntersect10- JL rie s o f
n Ing st,rC)ets- The length of the
trIangle, .1eg m4a
,-,asured along such propertyi .0
lines shall be tiv;enty-fve (25) feet.
2. Such signs may be located in
PUM cr tcf
way if authorlilzed by the president and Board
of -Trustees provi'dedo, lic�'we-%-?,er, that no so such,
Sign sl -all be located I
0 n publi`6 r--jy
If. the President �end Board of Trustees dete,rns ine
that such sign w*ould cbstruc�, impao
Ir or
J.,nterfere with trziffic or sight of traffic and
further provided that the Village may revoke
any such authorization given pursuant to this
Provision at any time and further provided
that the owner of such sign' shall . enter .linto a
release and indemnification agreament acceptable
to the Village Board arid Villag'e attorney prior
to the erection of any such sigrn":whi I ch is
authorized.".'
FOUR: This -Or-linanco ShA 1-1
..n '115 -al"
A. force and e'f'fect
III and--aX—tei its assage, apo
a P proval an'A* publication -Iin' the manner
PrOvIded ICY law.
Passed this, day of
1.980.
AYES IM
-IAYS -
,,BSENTO*
-pproved this day of 1980.
Aper' owed :
ttest'.
Village Pi-6-s-JrLd�en`t��
Hlaqe of ii'Vlourit Prospect
MOUf)t Prospect, flliriois
INTEROFFICE MEMORANDUM
TOO- Terrance L. Burghard, Village Manager
FROM*- Kenneth H. Fritz, Community Development Director
SUBJECT,-, Centennial Subdivision
DATE: October 3, 1980
Centennial Subdivision is proposed to serve the needs of the
senior citizen housing development at the North end of Mount
Prospect Shopping Plaza. The subdivision is divided into
three lots for purposes of acquisition. Lot 1 -is the principal
site for the housing development containing 97 units and
measures 500 feet in length and 200 feet in depth. Lot 2
principally is proposed to serve as a buffer of open space
between the residential lots on the South side of Ardyce
immediately to the North of the subject subdivision, and the
Mount Prospect Shopping Plaza located to the South. Lot 3 is
proposed to be dedicated for a roadway access connecting
Westgate Road to the senior citizen housing development to the
West. Although this parcel has a dimension of 35 to 40 feet
in width, additional right-of-way is not considered necessary
as the Village will be retaining ownership of Lot 2 with the
intention of installing extensive landscaping. The total
acreage of Lots 1, 2, and 3 is approximately 5.4 acres.
Also contained on the subdivision plat is a utility easement
for Commonwealth Edison and Illinois Bell Telephone and runs
in a North South direction across Lot 1. It is proposed to
relocate this utility easement to the West and South property
lines of Lot 1 and in the near future will require -a vacation
of this existing utility easement.
The Village staff has reviewed the proposed Centennial -
Subdivision and recommend its approval. The Plan Commission
approved the Centennial Subdivision subject to the Village
obtaining the property through land sale or condemnation from
Cermak, Inc., authorizing Chairman Ross to sign the final plat
provided the other signatories complete the signing of the
document.
mmmme
cc*. Chairman Harold Ross
Herb Weeks
.Carol Fields
Beatrttl a Resut ivtsLon of part of the East, half of tete Southwest quarter of Section
35, Township 42 North, Range 11 East of the Third Principal MerLdidn, in the Village
of mnunt Prospect, Cook County, Illinois.
—
7-2-7- F77
322
3 _
-
4 ex-
l t c;;,
77.
7
s '
•T`'
1'i
-.
. r
314
rn
kA
k 1i tv 1-4
§Y A-.
N`,_
r-
`- i
- t,,
J 74F It
F
540 9P
State of New York
County of Westchester
This is to certify that r'errkkk P az , Inc., as o nrtr of tht, land da.5-
c t d in the ann d plat ham rartt,ed the !3atlWj LO tO se3rVey d ani r 4
su ii tested as tndicdtod hitreon foo: thr: uses and purpoc ie'i thereLn set:
forth, drid do -en hste:ty acknowledqu =incl adapt they s,arr;e under the style
anti title h r ia tncSL At d.
I find no deferred installments of outstanding unpaid special, assess-
ments due against the land included in the above plat,
Date
i l laqu (:ol lent ur
a unt Prosixic , Ullnuin.
State of Illinois
County of Cook
1K,
their rcs�
to i
f>iir
U anvu t1
Ugn4A if
Lbc Prov
maykcil
for succ-
c(
C UT
41A arr
CU t. Ln -Ir
ably rry
to enter
Obfttruc
n cit
- r
,atter u,
ldcd
U-11WIC171
, Rotert E. Frederick, an Illinois qt ter-
ct.ify that I have surveyed and r su t td.F
PI.JLZA JUIIDIVI.�ION, being .a Su iv sign =-)E
r%f 4$Rr^t t r!n A n as$s i n ) M€Na r 1, i s
CHARGES BY THE VILLAGE BOARD TO
COMMITTEES t COMMISSIONS AND INDIVID- LS
October 7, 1980
BUILDING COMMITTEE - Trustee Floros, Chairman
ZBA 12-Z-79 308 W. Rand Road
4/4/79
ZBA 13-Z-79 310-314 W. Rand Road
6/5/79
ZBA 23-Z-79 705 W. Rand Road
1/7/78
ZBA 22 -SU -80 422 E. Northwest Highway
6/3/80
ZBA 23-V-80 111 N. Lancaster St.
7/1/80
ZBA 34-V-80 208 S. Albert St.
8/5/80
ZBA 35-V-80 1531 Lonnquist Blvd.
8/5/80
ZBA 36-V-80 700 E. Rand Road
8/5/80
ZBA 39-V-80 701 E. Prospect Ave.
9/2/80
ZBA 42-V-80, 1003 Callero Circle
9/2/80
ZBA 40-A-80 Village of Mount Prospect
9/2/80
ZBA 43-A-80 Village of Mount Prospect
9/2/80
FINANCE COMMITTEE - Trustee Miller, Chairman
Business License Fees
5/1/79
Feasibility of increasing liquor license fees
5/1/79
Cash and Fiscal Policy review
8/21/79
Review salaries of Mayor and Board of Trustees
11/6/79
Water billing process
12/8/79
Budget preparation process
3/4180
Review of employee benefits
4/1/80
Finance Commission report on business & liquor license survey
8/5/80
FIRE AND POLICE COMMITTEE - Trustee Murauskis . Chairman
Maple Crest Subdivision water system
6/19/79
Development Code
8/7/79
Public Safety Department
4/1/80
LEGISLATIVE/JUDICIARY COMMITTEE - Trustee Richardson, Chairman
Rob Roy Zoning Suit
12/5/78
Di Mucci Water Bills
12/5/78
Liaison with State Representatives
1/7/78
Downtown Rehabilitation Loan Fund
8/7/79
Legislative Report
6/5/79
Woodview Homeowners Association request for reimbursement
12/8/79
of $2,500 in legal fees (Brickman)
7/1/80
Village of Mount Prospect street lighting program
7/1/80
Licensing Not For Profit Corportations - Raffles & Changes
8/19/80
PUBLIC HEALTH AND SAFETY
COMMITTEE - Trustee Wattenberg., Chairman
IRS _. _...8/21/79
Bicycle Safety for commuters 5/15/79
NORTRAN Membership 5/15/79
Request to increase taxi -cab fares 4/15/80
Police Facility Study 8/5/80
Highland and Rand Road (To be reviewed in February., 1981) 8/5/80
PUBLIC WORKS COMMITTEE - Trustee Farley, Chairman
For continuing study:
MFT Projects
1/7/78
Lake Briarwood drainage problem
6/5/79
Explanation of Recapture Ordinances
6/5/79
Water billing process
12/8/79
Acquisition of Lake Michigan water
Future use of Central/Busse Detention Basion (MSD)
3/4/80
For Board Report:
Cable T.V.
6/5/79
Leases for parking lots
8/19/80
Lease and maintenance of commuter station
8/19/80
m^ °umNmmi
m
milli m "„w waw
I
j
40 awl I
i
IT
�1
,fr
cw� 0
>rCau ,way ',. �'�wra»�. awrya,l,�„�
't
E NI I
�”} 1G
ASE
RTH EAST N �� ,�
Ay air
SECTION d ! v * +' " �YV,, °
401
.. a �rw .. *^�177�
„�,�11 Ills r9typ ° Y 4IINa� ym i+' 9fl npI .
v���
""
NORTHWESTgoo
EVT 1 1/
�" N iy�fJ' ,�,��;ap'� "n r� ' J �"�J + �i �V ?.� b � w�V .gym a��.�, � �„��G.''•' a� � ,��� ,s
0
an VIP
tt y ppgy ytwr Q1µ g
I��RYk b.W�GwgY7a ak °aM P 1 6N 'q1��
mmpyy
11-9,
”
"i
,I 1 S Y F IY; M1 JP SRI �I ,1�
C 7—
1 cD. (AfM' A L L
pP p
i TM' R O
1y II I^ph
L .w Q �1� ART �I
r,,. � � � �'� � A r 4J � 17 t !—''+ 1 \ 1 III
1
�
ff wwnp N'i "�
.1L_l.l.. H B I D
ON
. ... .. . . . ....„�” �������„„'gym„„�c��
��L D
A�...
p,"� �� a�;u h�� ��„m 11 N'
AEC ROOF REPAIR
C UI
a I��x � � � Iw I
�NNIAL
CENT
� PROS—i *✓'+..J—
Ar
y* �”
SSA 9 8C C4
flfl
ADE SERVICE R`�
PE.T AVE
r �rw� � ° �l� �,T ��o _ /' ryI
T 7P dII fl ��'` 1 MA i:..L✓A *./ �.J'"+�,"+.�J
i� 'a n,{"��M,^, y V X i �iIXir!,^h'u, F�" w Ny..J L D { 9!1
��q 1 � I r n jf N p 0� f Nf 1 L f j(4,`�J) JiST
b aaa A„Vae; ��"'14Y „f yr c Ya gypv O 1 7Q
Gr 00
„„ � rp pp 99y qg
^a t Al
w ra.0 n, 1 Y�. ,,”. �e �, �LL �.•r �"".t"'^�d �,;�
�� �� h �� IL
SOUTHEAST
�
1Z,1 �If �m � � � d � � '�, ^,� �� I ” J � � r �r, �^* ^ I�-i E
� ;, E C i I1O N
_
�E 2— TRAFFIC CCPD
�y�,�, mmw ��
AMENDMENTS
SOUTHWE,s'
—TH
,�a, iS C I i ESS T Y O O D C'D+. MAR
SECTION;
war~
doh µ� ➢ J , Jr o � 1 �M CLI N C RD & BUSINESS
, 7 "A LAN E J
�IJ
L,AT OF UDI"; CENTER DR
,a V
^fig 31 U CLAD WNEELf N C
�� �� � '�L�ID. 3 WANin
°1 i
". L O NNCSUI 1 E7
DEBORAH O O
�LZLJ
I rz�
F?G7.^r�o
m„
4 u�
r
V
CJ AGENDA MAP