HomeMy WebLinkAbout4.2 Motion to authorize changes to the Village of Mount Prospect/Michael J. Cassady Village Manager Employment Agreementr�
Item Cover Page
Subject Motion to authorize changes to the Village of Mount
Prospect/Michael J. Cassady Village Manager Employment
Agreement
Meeting
Fiscal Impact (Y/N)
Dollar Amount
Budget Source
Category
Type
Information
March 16, 2026 - REGULAR MEETING OF THE MOUNT PROSPECT
VILLAGE BOARD
MAYORS REPORT
Action Item
Village Manager Michael Cassady was appointed in September of 2015. The Village has an
employment agreement with the Manager, which was last approved on January 21,2025. As
part of the annual evaluation process, the Manager, Mayor and Board of Trustees develop
performance goals and objectives for the coming year. The evaluation was held on March 10,
2026. The majority of the Board expressed appreciation for Manager Cassady's performance
and progress on assigned goals and objectives. Some highlights include:
• Positive financial leadership has put the Village in a very strong and healthy
position.
o Enhanced fund balance policy to 30-50 percent range - now $67.OM.
o Funded $14.2M Economic Emergency Fund
o Increased Police and Fire pension funding ratio 14 and 12 percent respectively.
o Reduced property tax levy to 2015 level.
o Village finances audited independently by GFOA and received Triple Crown
recognition.
o Value creation in Prospect and Main TIF: 2025 Increment = $5.89M.
o Value creation in South Mount Prospect TIF: 2025 Increment = $1.83M.
• Pro -active economic development strategy resulting in positive investment
momentum in all areas of the Village:
o Mom's Organic Market backfills Northern Tool on Rand Road.
o Nike and Sketchers at Randhurst Village.
0 100 E. Northwest Highway - future restaurant and event space.
o Fatpou r Tap Works at 200 S. Main Street.
o Mia's Cantina expansion and residential conversion on 2nd level.
o Recruited Coco and Maple to HQ Residences retail space.
o Deba Sushi in former Patina Wine Bar space on Prospect Avenue.
o Cloud HQ PUD amended to two buildings and larger data center footprint.
o DiMeo Construction HQ at 2400 Oakton Street.
• Acquired 310 W. Northwest Highway and redeveloped the Central Gateway, which will
be competed this spring.
• Evaluated overall downtown parking availability. Completed access improvements to
the Emerson Street Parking Deck by enhancing signage, lighting and access from Main
Street.
• Acquired St. Mark gym, parsonage and parking lot to advance parking and
redevelopment improvements to the southwest segment. Negotiated price and
appraised value with Church leadership.
• Managed Fire Department leadership transition. The 4 station operational footprint
enhanced emergency response times by 45 seconds in our busiest areas. Ambulance 12
and 13 lead response times for all NWCD communities. Newly installed Oakton
Waterma i n enhanced fire protection for businesses and residents. Successful Fire SSA
Levy offset fire department expenses by $1.OM. Authorized three additional firefighter -
paramedic positions to save $132,000 in overtime.
• Received $850,000 grant from Representative Krishnamoorthi for renovations to new
Station 11.
• Successfully intervened in ownership litigation to acquire property at 111 E. Busse
Avenue. Proposed redevelopment planning is underway.
• Successful strategic planning workshop and positive progress on all Top and High
Priority Targets for Action adopted in May 2025.
Discussion
Alternatives
1. Authorize changes to the Village of Mount Prospect/Michael J. Cassady Village Manager
Agreement regarding compensation.
2. At the discretion of the Village Board.
Staff Recommendation
Attachments
None