HomeMy WebLinkAbout12/08/2009 COW Minutes (Special)SPECIAL BOARD MEETING
DECEMBER 8, 2009
I. CALL TO ORDER
The meeting was called to order at 6:10 P.M. in the Village Board Room of Village Hall, 50
South Emerson Street, by Mayor Wilks.
11. ROLL CALL
Present at the meeting were: Mayor Wilks, Trustees Arlene Juracek, John Korn, John
Matuszak, Steven Polit and Michael Zadel. Staff present included Village Manager Michael
Janonis, Assistant Village Manager David Strahl, Finance Director David Erb and
Administrative Analyst Michael Dallas.
III. PUBLIC HEARING
2 ND Public hearing for the establishment of a Business District at Randhurst Mall, pursuant to
651LCS 5111 - 743 -5. This public hearing, called pursuant to proper legal notice having been
published in the Daily Herald on November 28, 2009.
Mayor Wilks opened the public meeting stating that this is an opportunity for any interested
parties to present information to the Village Board regarding the consideration of the
establishment of a special business district at Randhurst Mall.
Community Development Director William Cooney provided an overview of this District
and the components relating to generating revenue. He stated this project is approximately
$190 million which the Village is proposing to commit up to $25 million with all funds being
generated on the site and the agreement does not put the Village at any financial risk. A share
of the portion of the new sales tax generated on the site, an increase of the hotel /motel tax
from 3 to 6% and a $0.25 cent amusement tax and a food and beverage tax would be the
revenue sources devoted to covering the $25 million related to the site redevelopment. Prior
to any of the $25 million to be returned the development must reach a sales threshold of $237
million.
There was no public comment.
Consensus of the Village Board was to move all ordinances to 2 nd reading for consideration at
the next scheduled Village Board meeting.
IV. ADJOURNMENT
Meeting adjourned at 6:35 p.m.
DAVID STRAHL
Assistant Village Manager
Special Village Board Meeting Page 1 of 1 12/08/09
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