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HomeMy WebLinkAbout03/16/2022 FC MinutesFINANCE COMMISSION — SPECIAL MEETING MINUTES Wednesday, March 16, 2022 Fire Department — 111 E. Rand Road Mount Prospect, IL 60056 I. Tour Deputy Fire Chief Tom Wang provided Finance Commission members a tour of the Fire Headquarters/Station 13 II. Call to Order Meeting called to order at 7:49 p.m. Commission members present: Kenneth Arndt, Yulia Bjekic, Trisha Chokshi, Vince Grochocinski, Don Ocwieja and William Grossi. Commission members absent: Pam Bazan Staff present: Director of Finance Amit Thakkar, Assistant to the Director of Finance Jennifer Fitzgerald and Assistant to the Village Manager Alexander Bertolucci. III. Approval of Minutes a. Motion by William Grossi, second by Yulia Bjekic to approve the minutes of the Finance Commission regular meeting of February 24, 2022. Chair Chokshi called a voice vote. Motion passed unanimously. IV. Citizens to be Heard None V. Old Business None VI. New Business a) Video Gaming Push Tax Director of Finance Amit Thakkar reviewed the video gaming amusement push tax ("push tax") ordinance the Village Board approved on November 4, 2021. The push tax had a future effective date of May 1, 2022. The ordinance allowed the Village to preserve its option to enact a push tax and provide additional time for staff to analyze the push tax before it went into effect. Mr. Thakkar shared Illinois Gaming Board Video Gaming Report for the Village of Mount Prospect that includes data on wagering activity. He stated that if every push is a one -cent tax, it could provide $97,000 in additional revenue. He stated that video gaming terminal revenue is outperforming and staff does not recommend a new tax on the business community. Staff recommends not to levy the push tax and repeal the ordinance. Mr. Thakkar provided additional information in response to questions and comments from the Finance Commission: • The push tax is effective by May 1, recommendation is to repeal it Finance Commission Page 1 of 3 3/16/2022 There is no mechanism to track a push tax. Mechanism is with the vendor The Village has a strong fiscal balance and the business community is a contributing factor to the Village fiscal strength 89 terminals are active today The Finance Commission is in support of eliminating the video gaming push tax with the understanding that the push tax would likely be paid by the restaurant instead of the video gaming terminal operator. b) Elk Grove Fire Protection Status Update Mr. Thakkar stated there is no new information at this time. The Elk Grove Rural Fire Protection District (EGRFPD) has not yet signed on to the intergovernmental agreement between Mount Prospect, Elk Grove Village and Des Plaines. He reviewed EGRFPD's revenue and operational outlook. The Village is pursuing a SAFER grant to support the hiring of six additional firefighters to improve service levels as EGRFPD service levels reduce. These six firefighters are to add an ambulance on the southern portion of the Village. The ambulance would respond to calls instead of an EGRFPD ambulance. There was general discussion regarding future logistics of fire and emergency medical service calls within the EGRFPD service area and mutual aid response. Mr. Thakkar provided additional information in response to questions and comments from the Finance Commission: • Changes at Fire Station 12 are to accommodate additional apparatus vehicles • Staff has communicated with EGRFPD on their revenue and expenses for years • EGRFPD has property tax from unincorporated areas and statutory payments from annexations • The Village now receives revenue from transport calls for Medicare and Medicaid patients • EGRFPD contracted fire and emergency medical service is on a month-to- month basis at this point c) Tax Increment Financing (TIF) Updates Mr. Thakkar stated the Joint Review Board (JRB) meeting is coming up and reviewed how support from impacted taxing bodies is crucial for the success of the South Mount Prospect TIF. Staff is hopeful to receive support from all the partners. The Public Hearing date is scheduled for April 19, 2022. In response to a question from the Finance Commission, Mr. Thakkar stated Cloud HQ closed on the United Airline property in December and they will be moving forward with their proposed redevelopment. d) Vendor Portal and Electronic Payments Mr. Thakkar explained Public Act 102-0265 mandating that any town with an annual $5 million or more property tax levy to make a good faith effort to collect and publish certain demographic information provided by vendors and subcontractors doing business with the taxing district. Mr. Thakkar shared the approach that staff will take to comply with the public act. Finance Commission Page 2 of 3 3/16/2022 Mr. Thakkar provided additional information in response to questions and comments from the Finance Commission: • The Village is not making any changes to our procurement policies • There is no downside to having this information • There are many requirements to become a certified minority or woman owned business • Accuracy of the answers is dependent on vendor • State has not defined penalties for noncompliance • Noncompliance may negatively affect future grant opportunities. VII. Any Other Business Assistant to the Finance Director Jennifer Fitzgerald provided an update on implementing LocalGov service for businesses to submit their local taxes online and that it is now live. VIII. Chairperson Report None IX. Finance Director's Report None XI. Next Meeting: First Quarter Review — Joint Workshop with the Village Board X. Adjournment: Motion by Vince Grochocinski, second by Kenneth Arndt to adjourn the meeting. Chair Chokshi called a voice vote. Motion carried unanimously. The meeting adjourned at 8:55 pm. Alexander Bertolucci Assistant to the Village Manager Finance Commission Page 3 of 3 3/16/2022