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Home My WebLink About03/08/2022 COW MinutesVillage of Mount Prospect Committee of the Whole Meeting Minutes Tuesday, March 8, 2022 / 7:00 p.m. 1. CALL To ORDER The meeting was called to order at 7:02 p.m. by Mayor Pro -tem Colleen Saccotelli in the Board Room at Village Hall, 50 S. Emerson Street. Members present upon roll call by the Village Clerk: Mayor Pro -tem Colleen Saccotelli, Trustee Agostino Fil ippone, Trustee Terri Gens, Trustee John Matusza k, Trustee Peggy Pissa rreck, and Trustee Richard Rogers Absent: Mayor Paul Hoefert 2. APPROVAL of MINUTES 2.1 Minutes of the Committee of the whole Meeting - January 25, 2022 Motion by Peggy Pissarreck, second by Terri Gens to approve the Committee of the whole minutes of January 25, 2022: Aye: Agostino Fil i ppone, Terri Gens, John Matusza k, Peggy Pissa rreck, Richard Rogers Nay: None Final resolution: Minutes approved. 3. CITIZENS To BE HEARD Jerry Bal dt N. School Street • Read a prepared statement regarding last year's Board action on the removal of the police patch; expressed support of all police officers and their duty to serve 4. DISCUSSION ITEMS 4.1 Staff presentation of the proposed South Mount Prospect Tax Increment Financing District (TIF) Director of Community Development Bill Cooney presented an overview of the proposed South Mount Prospect Tax Increment Financing (TIF) District. Mr. Cooney displayed a map of the proposed project area, located south of Dempster and north of Gakton that includes 505 acres of mostly commercial/industrial properties. Mr. Cooney stated many of the properties located within the proposed area were annexed into the Village in 2016 and 2017 and were developed in unincorporated Cook County. The Village approved the South Mount Prospect Plan in 2020 and hired SB Friedman to conduct a TIF feasibility study in 2021. Mr. Cooney discussed how TIF is used by municipalities as an economic development tool to ignite investment and redevelopment. Investments can include public infrastructure, development of a Community Connections Center, affordable senior housing, grants for private improvements and remediation of existing environmental contamination. The long-term benefit is an increase in equalized assessed value after improvements, which reduces property taxes for other tax payers in the Village. Mr. Cooney reviewed next steps including two public hearings and a target date of May 3, 2022 to adopt the ordinance establishing the South Mount Prospect TIF. K: Mr. Cooney introduced SB Friedman representative Geoff Dickinson. Mr. Dickinson presented details of the proposed South Mount Redevelopment Project Area. Mr. Dickinson provided information regarding Redevelopment Project Area eligibility study, explaining there are two paths to eligibility. The subject area can either qualify as a blighted area or conservation area based on a number of eligibility factors. The proposed Redevelopment Project study area qualifies as a conservation area based on the following findings: * 00 of the 81 primary structures are over 35 years old Deterioration present on 57% of the parcels Inadequate utilities Presence of structures below minimum code standards Lack of community planning Mr. Dickinson discussed the findings and provided additional details before presenting the major redevelopment objectives of the redevelopment plan including: Encourage the construction of new industrial and commercial development and improve existing structures Improve public infrastructure ■ Support the goals and objectives of the Village Comprehensive Plan and 2020 Sub -Area Plan and future comprehensive plans Possible projects include affordable housing and a new Community Connections Center Mr. Dickinson presented the proposed budget for eligible expenses of the proposed South Mount Prospect TIF District. The estimated potential redevelopment project costs total $145,000,000. Mr. Dickinson provided details on the public approval process that include a meeting of the Joint Review Board, a public hearing on April 19, 2022 and consideration of the ordinances establishing to redevelopment project area and adopting the South Mount Prospect Tax Increment Financing District on May 3, 2022. Geoff Dickinson and Bill Cooney provided the fol lowing in response to questions from the Rna rri - Taxing district capital costs are TIF eligible costs and can include green space, parks, recreation facilities, commmunity centers and other publicly accessible projects that drive the goals of the redevelopment plan ■ Process to establish the TIF will be transparent; TIF portal on the Village website is active . and updated ■ Most of the properties within the TIF district are serviced by Village water; there are a few ■ that are on Illinois American Water • Gakton corridor lacks an operating water system • There are no school districts within the proposed TIF Board Comments: ■ South Mount Prospect will benefit from this TIF district R Village staff was commended for creating a foundation for a robust plan • Purpose of TIFs are to improve areas in need of redevelopment and reinvestment; the South Mount Prospect TIF also includes improvements to infrastructure Public Comment: Linda Waycie Mount Prospect resident • Redevelopment of area will generate new jobs which creates a need for housing that meets a wide range of income levels • Expressed support for affordable housing and questioned how feasible it is to guarantee affordable housing will be included in the proposed TIF redevelopment plan. Village Manager Michael Cassady responded, stating this topic will be discussed during the upcoming strategic Planning workshops. M Suggested an ordinance that mandates affordable housing • Trustee Rogers commented, stating the Village of Arlington Height's affordable housing inventory is deficient, creating the need for an ordinance. This is not the case in Mount Prospect, adding it is important to make decisions that are best for the whole community. Pat Rubino Mount Prospect resident Village Manager Michael Cassady responded to Ms. Rubino's questions: • Confirmed the number of affordable housing units in Mount Prospect is above the minimum ■ as mandated by the State of Illinois. ■ Staff does not anticipate a high volume of office space sites in this proposed TIF district due to the current market conditions for this segment. A discussion regarding affordable housing followed. Ronak McFadden Mount Prospect resident Asked how affordable housing is defined Mr. Cooney responded, stating figures based on median income of the region ($73,000 for the region that includes Mount Prospect) are considered when determining affordable housing for an area. Mr. Cooney provided further explanation. S. VILLAGE MANAGERS REPORT No report 5. ANY OTHER BUSINESS Mayor Pro -Tem Saccotelli reminded everyone that Coffee with Council meets this Saturday from 9:00 a.m. to 11:00 a.m. in the Farley Community Room. Mayor Pro -Tem Saccotelli wished a Happy International Women's Day to all. 7. ADJOURNMENT There being no further business to discuss, Mayor Pro -tem Saccotelli asked for a motion to adjourn. Trustee Rogers, seconded by Trustee Pissarreck, moved to adjourn the meeting. By unanimous roll vote of the Village Board, the March S, 2022 Committee the whole meeting adjourned at 7:46 p.m. Respectfully submitted, Karen M. Agoranos Village Clerk 4