HomeMy WebLinkAbout10/10/2000 COW Agenda COMMITTEE OF THE WHOLE
AGENDA
Meeting Location: Meeting Date and Time:
Mount Prospect Senior Center Tuesday, October 10, 2000
50 South Emerson Street 7:30 p.m.
I. CALL TO ORDER - ROLL CALL
Mayor Gerald L. Farley
Trustee Timothy Corcoran Trustee Dennis Prikkel
Trustee Paul Hoefert Trustee Michaele Skowron
Trustee Richard Lohrstorfer Trustee Irvana Wilks
II. ACCEPTANCE OF DEFERRED MINUTES OF AUGUST 22, 2000
ACCEPTANCE OF DEFERRED MINUTES OF SEPTEMBER 12, 2000
ACCEPTANCE OF MINUTES OF SEPTEMBER 26, 2000
III. CITIZENS TO BE HEARD
IV. REVIEW REVISED CORRIDOR PLAN DOCUMENT AND LOGO
Wolff Clements and Associates and Graf/X Communications Group have been working with
Community Development staff and the Plan Commission to develop a comprehensive set
of guidelines to assist in the revitalization of important commercial corridors within the
Village. At previous Committee of the Whole meetings, primary and secondary corridors
were identified along with other key focal points. Subsequently, conceptual designs were
developed for entry signs, banners and improvements for specific corridor locations.
Considerable discussion at the previous meetings centered around the proposed "keystone
logo" design.
Based on commentary from Village Board and Plan Commission members and Village staff,
the logo has been redesigned and the Corridor Guideline Report finalized. Wolff Clements,
Graf/x Communications and Village staff would like to make what, hopefully, is a final
presentation of the report and logo design. The Plan Commission has been invited to attend
Tuesday evening's meeting and participate in the discussion.
If the Village Board is satisfied with the logo redesign and the body of the report, staff would
recommend forwarding same on to the Plan Commission for the purpose of incorporating it
into the Village's Comprehensive Plan. By incorporating this document into the
Comprehensive Plan, staff is in a better position to pursue its implementation in conjunction
with future private development and redevelopment projects.
Representatives from the consulting firms along with appropriate staff will be on hand to
answer questions and facilitate discussion.
NOTE: ANY' INDIVIDUAL WHO WOULD LIKE TO ATTEND THIS MEETING BUT BECAUSE OF A
DISABILITY NEEDS SOME ACCOMMODATION TO PARTICIPATE, SHOULD CONTACT THE VILLAGE
MANAGER'S OFFICE A T '100 SOUTH EMERSON, MOUNT PROSPECT, ILLINOIS 60056, 847/392-6000,
EXTENSION 5327, TDD #847/392-6064.
V. AMENDMENTS TO REAL ESTATE TRANSFER TAX
Earlier this year, the Village Board directed staff to review that Section of the Village Code
covering the requirements of our Real Estate Transfer Tax. The Real Estate Transfer Tax
was first implemented in 1987. Since May 1, 1990, the Tax has been set at $3.00 for every
$1,000 of value of the transaction. Many communities rely on this Tax as a significant
revenue source. In 2000, it is estimated that the Village will receive approximately $650,000
in Transfer Tax revenue.
While the Tax is fairly common and the $3.00 per $1,000 rate is also very prevalent, the
Mount Prospect Code does vary significantly from other communities in that the Tax in Mount
Prospect is imposed on the buyer rather than the seller. Of 15 area communities, which
impose the Tax, only Mount Prospect and Niles require the buyer to pay. All the other
communities place the responsibility for the Tax on the seller.
Attached is a memorandum from Village Attorney Everette Hill and a draft Ordinance that,
among other things, places the responsibility for paying the Tax on the seller. The other
significant change in the Code would require the Tax to be paid on long-term leases--a
common practice in current real estate transactions. Other minor drafting changes have
been incorporated to make the Code Section more user friendly. The draft Ordinance is
annotated for ease of reviewing changes.
One policy question the Board will need to consider is whether to provide a rebate for those
owners who paid the Tax as buyers under the old requirement and then find themselves
subsequently having to pay the Tax again as the seller under the new requirements. Mr.
Hill's memorandum frames the question and ancillary considerations that the Village Board
will need to consider. On this latter point, the Finance Commission has opined that an open-
ended (no time limit) rebate provision be included in the revised Ordinance. Appropriate staff
will be on hand to answer questions and facilitate discussion.
VILLAGE MANAGER'S REPORT
Vii. ANY OTHER BUSINESS
VIII. ADJOURNMENT
CLOSED SESSION
PERSONNEL
5 ILCS 120/2 (c) (1). "The appointment, employment, compensation, discipline, performance,
or dismissal of specific employees of the public body, including hearing testimony on a
complaint lodged against an employee to determine its validity."
PROPERTY ACQUISITION
5 ILCS 120/2 (c) (5). "The purchase or lease of real property for the use of the public
body."
H:\GEN\Cow\Agenda\101000 COW Agenda.doc