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Home My WebLink About2.1 MinutesVillage of Mount Prospect Committee of the Whole "'On the Road" Meeting Minutes Tuesday, June 13, 2023 / 6:00 p.m. Lions Park Recreation Center 411 S. Maple Street 1. CALL TO ORDER Mayor Paul Hoefert called the meeting to order at 6:09 p.m. at the Lions Park Recreation Center, 411 S. Maple Street in Mount Prospect. a. Roll Call Members present upon roll call by the Village Clerk: Mayor Paul Hoefert, Trustee Vincent Dante, Trustee Agostino Filippone, Trustee Terri Gens, Trustee Bill Grossi, Trustee John Matuszak, and Trustee Colleen Saccotelli Absent: None 2. APPROVAL OF MINUTES 2.1 Minutes of the Joint Meeting of the Village Board and Finance Commission - April 25, 2023 Motion by Colleen Saccotelli second by Terri Gens to approve the minutes of the Joint Meeting of the Village Board and Finance Commission - April 25, 2023 Aye: Vincent Dante, Agostino Filippone, Terri Gens, Colleen Saccotelli Nay: None Abstain: Bill Grossi, John Matuszak Final resolution: Minutes approved. 3. CITIZENS TO BE HEARD None 4. DISCUSSION ITEMS 4.1 DOWNTOWN DEVELOPMENT UPDATE Village Manager Michael Cassady provided a brief background of events relating to the development of the downtown district. Beginning in 2012, Village staff deeply examined ways to best position the downtown district as a desirable destination location. That included development of the Strategic Plan and the Prospect and Main Tax Increment Financing (TIF) plan. These plans were further developed in 2015 and 2016 and after much public input and public engagement with our community partners (school and park districts), the plans were put into action beginning in 2017. Mr. Cassady introduced Director of Community Development Bill Cooney and Director of Public Works Director Sean Dorsey. Mr. Cooney began the evening's presentation with a brief review of the 2013 Downtown Implementation Plan. This plan identified six (6) development sites and created a blueprint and vision for staff to guide interested developers. 2 The 2017 Prospect and Main TIF was created to spark reinvestment in the downtown district. The base Equalized Assessed Value (EAV) in 2017 was $36 million and has now grown to $49 million. The TIF has generated $4.8 million in tax revenue since 2017. Mr. Cooney displayed the Prospect and Main TIF metrics that measure the success of the TIF. The six (6) key projects have or will result in $242 million in private investments. The Village has contributed approximately $15 million in incentives to developers as revenues are generated (pay as -you -go). All TIF financials are reviewed by SB Friedman Development Advisors. Downtown residential development has led to an estimated increase of approximately 1,100 new residents; Mr. Cooney provided details regarding the positive impact of downtown development. Mr. Cooney provided, project -by -project, detailed student impact data based on the new developments. The impact to schools has been minimal; the developments have generated four (4) students in District 57 and zero (0) in District 214. Mr. Cooney provided a detailed residential update. Rental rates range from $1,800/month for studio apartments to $3,500/month for 2- and 3 -bedroom units. In response to a question from the Board, Mr. Cooney stated the vacancy rate is almost 0%; minor fluctuations are due to turnover and the developments are exceeding rent expectations. Mr. Dorsey provided information on water and sewer infrastructure improvements including the 2018 Northwest Highway Lining project, the 2019 Maple/School/Prospect Avenue water main replacement and the 2021 Prospect Avenue water main replacement. Other infrastructure projects relating to downtown pedestrian improvements include: • Central/Emerson pedestrian crossing • Downtown signal improvements • Wayfinding signs • Bicycle improvements (added covered bike shelters and bike repair stations) • Train station rehabilitation (project funded by Metra) • Maple Street parking deck construction (262 spaces with automated vacant space tracking technology) Mr. Cooney provided details on completed projects to date that include: • Busse Pocket Park • Park Terrace 12 -unit rowhome project; average sale price over $600,000) • 20West - 73 rental units; restaurant concept in 2023 • 10 N. Main — 97 units (studio -3 bedroom) with amenities • Maple Street Loft Apartments - 192 rental units, 56 rowhomes (100% sold), Caputo's Fresh Market, additional 65 -unit apartments under construction Project under construction: • Prospect Place — 80 rental 1 -2 -bedroom units; 10,000 square feet of commercial (Salerno's and Whiskey Hill Brewery), expected to open Labor Day 2023 • HQ Residences - 88 rental units (studio -3 bedrooms) with rowhomes units with amenities and 3,200 square feet of commercial space • Lions Park Rowhomes - 29 units (rental rowhomes with amenities) • 500 W. Central Road - conversion of office building (known as the "gold building"); improved streetscape along Central Road Mr. Cooney boasted about new businesses that have opened in downtown including Caputo's Fresh Market, Splendid Day Spa, Synergy Fitness Studio, Straws and Bubbles, F45 Training and Gold and Oak. Mr. Cooney provided details on upcoming projects relating to Prospect Avenue and Northwest Highway corridors. Prospect Avenue projects include the expansion of Mia's Cantina and prospective new businesses include Lady Dahlia Tequila Bar and Petina Wine Bar. Mr. Cooney stated plans also include improved outdoor seating along Prospect Avenue. Mr. Cooney predicts the Prospect Avenue corridor will be "the place to be." 3 The Northwest Highway corridor includes a new 2 -story fine dining restaurant, The Prospect, located in the 20West building and Cigar Heaven, filling the former Prospect Bikes and Trains vacant space. In addition, the former Busse Flowers building will be demolished. The Village has not received final plans for this property. Mr. Dorsey provided information on upcoming infrastructure upgrades that include Central Road and Cathy Lane pedestrian crossing, train station platform extension and Klehm's Island renovation. Klehm's island is the small area of green space near the S-curve on Rt. 83 near Lincoln. This island will feature native grasses and perennials. Mr. Dorsey stated the Village received a $900,000 Rebuild Illinois grant to design and construct the train station platform extension. In response to a question from the Board regarding the importance of the proposed Central Road/Cathy Lance improvement project, Mr. Dorsey explained the Central Road corridor was prioritized in the Strategic Plan. Central/Cathy is important due to the location of the Central Community Center and its' proximity to neighborhoods and the desire to increase safety for pedestrians/bicyclists and motorists at that intersection. Village Manager Cassady noted the park district requested and supports this high-priority project. In response to a request from the Board, Mr. Dorsey provided an update on the Meadow -Metas Bridge project. Mr. Dorsey stated the Village received a $3 million grant toward the project. Phase I has been completed; Phase II, design engineering, is the next step and will include final cost estimates. In response to question from the Board regarding the Central Rd./Cathy Ln. intersection, Mr. Dorsey stated a Traffic Signal Warrant Study was performed at the intersection and it was determined there is insufficient traffic volume to justify a traffic signal. Mr. Dorsey discussed the Busse/Main Pedestrian Crossing project. This project addresses the pedestrian need to cross Main Street near Central Continental Bakery and Village Hall to Station 34 and 20West. The project includes a pedestrian refuge island, painted crosswalk and signage. Mr. Dorsey stated the biggest proposed change is restricting a left turn from southbound on Main Street onto eastbound on Busse Ave. Main Street is an IDOT (Illinois Department of Transportation) road and requires their approval. A Board discussion followed. Board Comments: • Meadows/Metas bridge is not worth the cost; not enough cooperation from partners (Park District, Union Pacific, School Districts) • Meadows/Metas is an important project; continue to work with partners to move the project forward • Important to secure a commitment from the three main players (the Village, park districts and the railroad) before we move forward with the Meadows/Metas Bridge project • Concerned with left turn restriction onto eastbound Busse Ave.; concerned it will increase congestion • Busse/Main Pedestrian Crossing project will increase safety for pedestrians • TIF freezes the value of the building, not the tax rate Public Comment: Louis Goodman Resident • Does not support the Meadows/Metas Bridge Carole Martz Resident • Questioned the need for the Meadows/Metas Bridge; cost outweighs the need. 4 • Pedestrians need to use common sense when choosing where to cross; safer, but slightly less -convenient, options are available. Corrin Bennet -Kill 101 S. I -Oka • Absence of means to connect south Mount Prospect with north Mount Prospect is concerning Expressed concerns regarding the impact of the (Prospect and Main) TIF district on other taxing bodies; particularly School District 57 who won't see any benefit of increased property tax revenue until 2040; the TIF is "strangling" the district. Also concerned that the TIF will be extended. Village Manager Michael Cassady responded, stating the Village's objective is to end the TIF early, not extend it. Mayor Hoefert added that without past and current TIF districts, downtown development would not have happened. D57 unable to afford the cost of full-day kindergarten Important to find ways to use TIF funds to support the needs of the school districts Liz Fischer Resident • Excited about new developments on Prospect Avenue Supports Meadows/Metas Bridge; even if it saves just one life • Walkability of the Village is improving; supports improving pedestrian crossings Jeff Nejdl 303 N. MacArthur • Supports bridge; safety is important • Suggested destination -oriented business opportunities for downtown M. Ostrowski Resident • Questioned if there are guidelines developers must follow regarding public streetscapes near the respective development. Mr. Cooney responded, stating the Village's Development Code provides guidelines for improvements to infrastructure including streetscapes Steve Polit 601 Wilshire Dr. • Spoke regarding the fallacies surrounding TIF, particularly as it pertains to school districts; TIFs are investments in the future Village Manager Cassady stated he understands the concerns expressed by the school board member (Ms. Bennet -Kill) but disagrees that the TIF is "strangling" D57; expressed desire to work toward ways the TIF can better benefit the park and school districts Louis Goodman • Questioned the purpose or need for a bridge; asked how many fatalities there have been at this location. Manager Cassady stated none but even one fatality is way too many No further discussion. S. VILLAGE MANAGERS REPORT No report. 5 6. ANY OTHER BUSINESS Mayor Hoefert thanked those who attended the meeting and shared their comments. Mayor Hoefert thanked Village staff for their presentations. 7. ADJOURNMENT There being no further business to discuss, Mayor Hoefert asked for a motion to adjourn. Trustee Gens, seconded by Trustee Dante moved to adjourn the meeting. By unanimous roll vote of the Village Board, the June 13, 2023 Committee the Whole meeting adjourned at 8:02 p.m. Respectfully submitted, Karen M. Agoranos Village Clerk 0