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HomeMy WebLinkAbout7.1 A RESOLUTION ADOPTING A VILLAGE-WIDE FACADE IMPROVEMENT AND INTERIOR BUILDOUT PROGRAM.1/18/2021 BoardDocs® Pro Agenda Item Details Meeting Mar 20, 2018 - SPECIAL MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - 7:00 p.m. %Ca teg o ry 7. NEW BUSINESS Subject 7.1 A RESOLUTION ADOPTING A VILLAGE -WIDE FACADE IMPROVEMENT AND INTERIOR BUILDOUT PROGRAM. Access Public Type Action Preferred Date Mar 20, 201��, Absolute Date Mar 20, 2012y, Fiscal Impact Yes Dollar Amount 100r111-00 Me eted Ye -5 Budget Source Corridor Improvement Program Recommended Action Approve the resolution adopting a Village -wide Facade Improvement and Interior Buildout Program Goals 10. Village -wide Facade Improvement Program: Development Public Content The Village has operated the Facade Improvement and Interior Buildout Program (Program) for several decades in the downtown district. The Program has been funded with tax increment financing (TIF) funds and has an annual budget of $100,000. This Program has been very popular and spurred significant private investment in the downtown district. However, since it is funded with TIF funds, the Program is currently limited to assisting properties located within the geographic boundaries of the TIF district. The Program provides matching grants of up to $10,000 for sales tax generating retail establishments and up to $25,000 for restaurants. The proposed Village -wide Program would open up matching grant opportunities for businesses throughout the community. The Village -wide Program would mirror the current downtown Program in all aspects except that the matching grant would be capped at $10.,000 for all qualng establishments. This cap is recommended due to limited available funds and a much larger pool of possible applicants in the Village -wide Program. The Program would be funded with Corridor Improvement Program funds that can be used throughout the Village. The Village has budgeted $100,000 for this Program in its 2018 budget under the Corridor Improvement Program. The Economic Development Commission (EDC) discussed the Village -wide Program at their last meeting and votef'f unanimously to recommend its approval to the Village Board. They indicated their strong support for the Program and belief that this economic incentive will be another tool available to the Village to retain and attract sales tax producing businesses in the community. https://go.boarddocs.com/il/vomp/Board.nsf/Private?open&login 1/2 1/18/2021 • at discretion • Village Board. Staff Recommendation BoardDocs® Pro 1. Approve the resolution adopting a Village -wide Facade Improvement and Interior Buildout Program. 2. Jill l; 1�1� i Village -Wide Program Description and Application 2018.pdf (86 KB) EDC—January 25.pdf (117 KB) Facade improvement resolution.pdf (10 KB) Administrative Content Executive Content Motion & Voting Jill Motion by Michael Zadel, second by Paul Hoefert. Final Resolution: Motion Carries Yea: William Grossi, Eleni Hatzis, Paul Hoefert, Richard Rogers,, Colleen Saccotelli, Michael Zadel https://go.boarddocs.com/il/vomp/Board.nsf/Private?open&login 2/2 RESOLUTION NO. A RESOLUTION ADOPTING AVILLAGE-WIDE FACADE IMPROVEMENT AND INTERIOR BUILDOUT PROGRAM WHEREAS, the Village of Mount Prospect has established a Village -Wide Improvement and Interior Build Out Program for the purpose of promoting revitalization within the commercial corridors throughout the community; and WHEREAS, the program will be funded with Corridor Improvement Program funds to be used throughout the Village. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: The Board of Trustees of the Village of Mount Prospect do hereby adopt a Village -Wide Fagade Improvement and Interior Buildout Program being subject of this Resolution, a copy of which is attached hereto and hereby made a part hereof as Exhibit «A„ SECTION TWO: That this Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this 20th day of March, 2018. Arlene A. Juracek Mayor ATTEST: Karen M. Agoranos Village Clerk MAYOR Arlene A. Juracek TRUSTEES William A. Grossi Eleni Hatzis Paul Wm. Hoefert 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 25, 2018 8:00 a.m. VILLAGE MANAGER Michael J. Cassady DEPUTY VILLAGE CLERK Karen Agoranos Phone: 847/392-6000 Fax: 847/392-6022 www.mountprospect.org The meeting of the Economic Development Commission (EDC) of the Village of Mount Prospect was held on Thursday, August 24 in the third 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 Jim Drew, John Healy, Jim Peterson and Tom Zander were present. Also present were Arlene Juracek, Mayor, Nellie Beckner, Assistant to the Village Manager, 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 August 24, 2017 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. The group discussed details of the upcoming Planning and Zoning Commission cases and provided insight on market conditions related to those projects. NEW BUSINESS Village -wide Fagade Program Mr. Cooney advised the commissioners that the Village Board had authorized $100,000 for FY 2018 for a village -wide facade program in the recently approved budget. He stated that the proposed draft regulations mirror the long-standing downtown facade program with one minor change. Staff is proposing capping all grants at $10,000 for participants while the downtown grant goes up to $25,000 for restaurant uses. The group discussed excluding national franchises from the program but ultimately recommended allowing them to participate as many of these businesses are owned by local franchises. Business Attraction Strategy Mr. Cooney stated that one of the high priorities of the Village Board was to create a business attraction strategy for targeted businesses. They want staff and the EDC go focus on attracting a microbrewery and/or distillery and put together a list of other businesses to pursue. The commission members agreed to work on assembling a list of prospective businesses to recruit during 2018. OTHER BUSINESS There was no other business to discuss. ADJOURNMENT The meeting was adjourned at 9:10 a.m. Respectfully submitted, William J. Cooney Director of Community Development VILLAGE OF MOUNT PROSPECT VILLAGE -WIDE FACADE IMPROVEMENT AND INTERIOR BUILD OUT PROGRAM Program Description and Application 50 S. Emerson Street Mount Prospect, IL 60056 (847) 818-5328 PROGRAM DESCRIPTION AND ELIGIBILITY PURPOSE: The purpose of the Village -Wide Facade Improvement and Interior Build Out Program (Program) is to promote revitalization within the commercial corridors throughout the Community. The image, appearance, and environment of these corridors are important factors in attracting shoppers and maintaining a healthy economy. The goals of the Program are: 1. To provide a diverse shopping mix for residents and commuters. 2. To invest in existing businesses and strengthen their appeal to local shoppers. PROGRAM TERMS: The financial assistance is a matching grant (50% of total project cost will be paid by the Village of Mount Prospect) up to $10,000 for retail and restaurant uses whose primary use generates sales taxes. Applicants must install at least $1,000 of improvements to qualify for the Program. The amounts may vary by project and each application is reviewed on a case-by- case basis. The amount may increase depending on the scope of the work and the need for improvement. Building owners and tenants (with written consent from the building owner for all proposed improvements) are eligible to participate in the Program. Eligible participants may make no more than one application for Program funds every five years. All improvements must conform to the Village's regulations including, but not limited to, the zoning and building Codes. The municipal code is available online www.mountprospect.org. ELIGIBLE COSTS: Structural and permanent improvements are given priority. Some examples of eligible costs are: 1. Facade Renovations 2. Lighting 3. Windows /Doors 4. Upgrading /retrofitting mechanical systems 5. Parking Lot and Landscaping Improvements 6. Signs or awnings 7. Life Safety /Sprinkler Installation and Upgrades 8. Reconfiguring of space, furnishing work (i.e. painting, coverings for walls and floors) 9. The Program will fund up to one thousand five hundred dollars ($1,500), for architectural renderings, engineering services and other soft costs related to the project. Any improvements purchased with the Program funds must remain in the space should the grant recipient close or relocate the businesses. INELIGIBLE COSTS: The following are unacceptable expenditures: 1. Payroll 2. Day-to-day operational costs (i.e. utilities, taxes) 3. Refuse management 4. Production Equipment 5. Rent 6. Work completed before any Program Funds are formally approved by the Village Board. January 2018 PROCEDURES FOR ASSISTANCE 1. Pre -Application Meeting The applicant should schedule a meeting with Village Staff to discuss the feasibility of the proposal. Village Staff will review the program application and required submittals at this meeting. 2. Submittal of Complete Application Based on the pre -application meeting, the applicant will submit a complete application, which includes the items listed below. 3. Staff Review Once a completed application is received, Village Staff will evaluate the application for compliance with the Program regulations. Upon completion, the Village may request revisions to the application. When the required revisions have been made, the application will be forwarded to the Village Board for their consideration. 4. Village Board Action At a regularly scheduled meeting, the Board will conduct a public review of the application. The applicant is required to appear before the Village Board at the meeting. Public opinions will be heard at this meeting. Upon the conclusion of the public review, the Village Board will make a determination on the grant amount. Rehab work may commence once Board approval obtained. APPLICATION REQUIREMENTS ❑ Completed application (attached) ■ Tax Identification Numbers Property owner and business owner contact information Plan shall be folded not to exceed 81/2 " x 14" in area ❑ Applicant Affidavit ❑ One copy of paid receipt of the most recent tax bill for the property ❑ Business Plan (for new businesses only) ❑ Projected and past (if available) sales tax revenue ❑ Sales dollars per square footage of retail space (current and projected) ❑ Documentation of membership in local business association January 2018 SAMPLE BUSINESS PLAN ELEMENTS All business plans will be held in confidentiality. Business plans should include as many of the following as possible: 1. Description of your business and industry a. Your business b. The industry and its history 2. Features and advantages of your product a. Description b. Competitive advantage c. Proprietary position d. Future potential 3. Market research and analysis a. Definition of your customers and markets b. Market size and trends c. Competition 4. Estimated market share and sales a. Market plan b. Market strategy c. Pricing d. Sales tactics e. Service and warranty policies f. Advertising, public relations and promotions 5. Design and development plans a. Development status and tasks b. Difficulties and risks c. Costs 6. Operation plans a. Business location b. Facilities and improvements c. Strategy and plans d. Labor force January 2018 7. Management Team a. Key management personnel (credentials/resume) b. Management assistance and training needs 8. Overall Schedule a. Timing of critical activities before opening (e.g. company incorporation, signed lease, suppliers ordered, employees hired, opening date) b. Timing of critical activities after opening, (e.g. expansion, product/ service extension) 9. Critical risks and problems (how will you respond?) a. Price cutting by competitors b. Unfavorable industry -wide trends c. Operating cost overestimates d. Low sales e. Difficulties obtaining inventory or supplies f. Difficulty in obtaining credit g. Lack of trained labor 10. Financial Plan a. Profit and loss forecasts for 3 years (first year monthly) b. Cash flow projections for 3 years c. Performa balance sheet at start-up, semi-annually in first year and at the end of 3 years. January 2018 APPLICATION z 0 Case Number FIIB - - Telephone (day) Project Address & Name of Business Corporation Telephone (evening) 04 0 4 Date of Submission '—' O w ZHearing Date January 2018 Name Telephone (day) pCorporation Corporation Telephone (evening) O Street Address Fax O' w � A City State Zip Code Mobile a� � a Zip Code Mobile Z O O Number of storefronts in the building and occupants o Architect's Name & Address Telephone (day) fax O a Relationship to Property January 2018 Name Telephone (day) Corporation Telephone (evening) O Street Address Fax 0 City State Zip Code Mobile Z O o Architect's Name & Address Telephone (day) fax O a Contractor's Name & Address Telephone (day) fax Engineer's Name & Address (if applicable) Telephone (day) fax Landscape Architect's Name & Address (if applicable) Telephone (day) fax January 2018 APPLICANT AFFIDAVIT I have read and understand the terms of the Facade Improvement Program and Interior Build- out Program and agree that all work performed in conjunction with the aforementioned programs must comply with all other Village regulations. Applicant Property Owner January 2018