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Home My WebLink About5. NEW BUSINESS 8/17/04 Village of Mount Prospect Community Development Department Mount Prospect MEMORANDUM ~ TO: MICHAEL E, JANONIS, VILLAGE MANAGER ~c. tJl~ el'1 Dï FROM: DIRECTOR OF COMMUNITY DEVELOPMENT DATE: AUGUST 13,2004 SUBJECT: PZ-29-04 - CONDITIONAL USE (PUD) 100 S. EMERSON STREET NORWOOD BUILDERS - APPLICANT The Planning & Zoning Commission transmits their recommendation to approve Case PZ-29-04, a request to construct a mixed-use planned unit development on the former Village Hall site at 100 S. Emerson Street. The Planning & Zoning Commission heard the request at their July 15, 2004 meeting" The proposed five-story building is similar to other recent developments within the downtown, but includes staggered elevations and a variety of floor plans for the residential units. The Petitioner's plans are consistent with the Mount Prospect Downtown Strategic Plan, which calls for this building to have first floor retail with residential units above. The Planning & Zoning Commission discussed the Petitioner's request during the July 15th meeting. Several residents of the Lofts & Shop development attended the meeting and presented their concerns regarding the Petitioner's plan to have a 'shared' parking garage and the residents' inability to acquire additional parking spaces in the underground parking deck. In addition, the Lofts & Shops residents requested clarification on information included within the existing condominium association documents. While the residents stated their support of the proposed mixed-use proposal, many felt that the proposed development and related improvements were not fully explained to them when they purchased their condominiums. Other residents stated their support of the proposal, but one resident expressed concern that the parking deck would not be used by shoppers, which would result in congestion and a parking shortage" The Petitioner responded to the concerns raised by the residents and clarified the information included in the existing Lofts & Shops condominium association documents. The P&Z Commission discussed the amount of surface parking, whether additional parking for the residential units could be provided on-site, and the role of the condominium association. The Planning & Zoning Commission voted 5-0 to recommend that the Village Board approve the Conditional Use request for the proposed mixed-use development, Case No. PZ-29-04, subject to the conditions listed in the Staff Memo. PZ-29-04 August 13,2004 Page 2 Since the July 15th P&Z meeting, the Petitioner has finalized floor plans and addressed concerns listed in the Staff memo. The attached exhibits demonstrate that the proposed mixed-use development will provide the required amount of residential parking spaces as listed in the Zoning Ordinance" Although the new development provides the required. amount of parking spaces by using spaces located under the Loft development, the Lofts project was developed with this shared parking arrangement in mind. Furthermore, the Loft development continues to maintain the parking ratio listed in the Development Agreement for the Lofts & Shops development. In addition, the Petitioner has also provided a parking analysis of comparable developments. Please forward this memorandum and attachments to the Village Board for their review and consideration at their August 17,2004 meeting. Staffwill be present to answer any questions related to this matter. ~I~ Zo~~~ IJc H'PLAN\Planni"c I< Zoning COMM\P&Z 2oo4\MEJ Mcmo,iPZ.29.04 ME! MEMO (Norwood. :00 S Em""",) do<: MINUTES OF THE REGULAR MEETING OF THE PLANNING & ZONING COMMISSION CASE NO. PZ-29-04 Hearing Date: July 15, 2004 PROPERTY ADDRESS: 100 S Emerson Street PETITIONER: Norwood Construction, Inc. 7458 N. Harlem Avenue Chicago, IL 60631 PROPERTY OWNER: Village of Mount Prospect PIN#; 08-12-108-002, -003, -004, -040 PUBLICATION DATE: June 23, 2004 Journal/Topics REQUEST: Conditional Use/Planned Unit Development to allow a 5-story mixed- use building with retail on the first floor and condominiums on the upper floors and other relief from the Village Code, including setbacks and parking, as may be required to allow for the proposed development. MEMBERS PRESENT: Richard Rogers - Acting Chair, Merrill Cotten, Joseph Donnelly, Leo Floros; Keith Youngquist MEMBERS ABSENT: Arlene Juracek, Matthew Sledz STAFF MEMBERS PRESENT: Judy Connolly, AICP, Senior Planner, and Michael Jacobs, AICP, Deputy Director of Community Development INTERESTED PARTIES: Bruce 1. Adreani, Kim Berki, Jane Blunck, Amy Ciolek, Charles Crump, Howard Dakoff, Valerie De Luca, David & Carolyn Droll, Matt Haylock, Edward Kurzeja, Tony Manno, Steve Messutta, Walter & Bette Nohelty, Patricia & Peggy O'Connor, Wesley Pinchot, Ryan Powers, Michael Rossman, Jennifer Tammen, Caroline E. Vullmahn, Chris & Kristin Walsh, Tom Zander Acting Chair Richard Rogers called the meeting to order at 7:40 p.m. Mr. Rogers announced there were six cases on the agenda, but four will be continued and one was withdrawn. He announced that the minutes of the June 24th meeting would be held over for approval at the August 26th meeting. He noted that PZ-25-04, PZ-30- 04, and PZ-31-04 were being continued to the August 26th meeting and asked for a formal motion. Leo Floras made motion, seconded by Merrill Cotten, and members unanimously approved the continuance of the three cases to the August 26 meeting. Mr. Rogers noted that the 100 S. School Street case would be postponed to a future meeting, and that PZ-32-04 had been withdrawn. At 7:41 p.m., Mr. Rogers introduced Case No. PZ-29- 04, 100 South Emerson Street, a request for approval of Conditional Use for a Planned Unit Development for Norwood Builders. Judy Connolly, Senior Planner, presented the case. The Subject Property is located at the southwest corner of Busse A venue and Emerson Street, and consists of a 2-story municipal building with related improvements. The Subject Property is zoned B5C Central Commercial Core and is bordered by the BSC District on all sides and the Rl Single Family District to the northeast. Planning & Zoning Commission Arlene Juracek, Chairperson PZ-29-04 Page 2 The Mount Prospect Downtown Strategic Plan, which was adopted by the Village Board as part of the Comprehensive Plan in 1998, created a vision for the downtown based on work by the Ad Hoc Committee with input from the residents of Mount Prospect. in the time since the plan was adopted, a great deal of downtown redevelopment has been completed. The most recent is the construction of a new Village Hall and parking deck. As you recall, Phase lA of Downtown Redevelopment, The Village Centre Residences, consists of 205 condominiums and a public parking lot. The project was approved in 1999 and the final building is nearing completion, pending minor interior modifications. Phase 1 B of Downtown redevelopment, The Lofts & Shops, consists of a mixed-use development at the northeast corner of Main Street and Northwest Highway. This phase of the plan is complete, pending minor interior changes per tenant requirements. Phase HI includes the soon-to-be vacated Village Hall site. The Petitioner's application calis for the development of the Subject Property as a mixed-use Planned Unit Development, or PUD. The Petitioner's plans are consistent with the Mount Prospect Downtown Strategic Plan and call for first floor retail with four stories of residential condominiums above the retail tenants. Per the Village's Zoning Ordinance, the review procedure for a PUD requires review and recommendation by the P&Z Commission and final action by the Village Board. In reviewing the current application, the P&Z Commission should consider that the Petitioner has been working with the Village Board on this proposal and that the proposed density was negotiated as part oftne agreement Also, the development proposal is somewhat conceptual since the Petitioner has not secured leases for the first story retail and has to finalize floor plans for the residential units. As illustrated on the proposed site plan, the Petitioner is proposing a mixed-use development consisting of 14,000 square-feet of ground floor retail; at least 52, but no more than 54, residential condominium units; and modifications to the existing surface parking lot that is currently shared by the Village and the adjacent retailers' employees and customers. In addition to the proposed 5-story building, the development would include on-street parking and landscaping of private and publìc areas. The proposed development is consistent with the Village's Downtown Strategic Plan, which calls for the Subject Property to be a 4 to 5 story, mixed-use development. The Petitioner is seeking approval for the proposed Planned Unit Development. The proposed development consists of one building located on multiple lots of record. The site plan indicates that the building is "L" shaped and would front on Emerson Street and Busse Avenue. The proposed building would include underground parking for the residences and its design entails using the existing ramp currently used only by residents of the Lofts & Shops development. The Village's Zoning Ordinance does not require building setbacks for the B5C District for most developments. Building setbacks are specified only when a site is adjacent to residential development. The Subject Property is not adjacent to residential. However, the Site Plan indicates that the proposed building would have varying setbacks, but no less than 12.5' from the east (Emerson Street) property line and no less than I-foot from the north (Busse Avenue) property line. Therefore, the proposal meets the Zoning Ordinance's minimum setback requirements, The submitted plans speciry a building height of 65.5' height at the top of roof, but it appears that a small portion of the building may extend slightly past this height The B5C District allows a maximum building Planning & Zoning Commission Arlene Juracek, Chairperson PZ-29-04 Page 3 height of 80 feet and the Petitioner's elevations indicate that the building height would not exceed this limitation. Final building plans indicating the correct height should be submitted prior to Village Board review. The color elevation indicates that the style of the proposed building would be in keeping with other buildings recently constructed as part of the downtown redevelopment. The building incorporates elements of existing developments, but has staggered heights and uses a variety of building materials. However, the building materials must be finalized prior to Village Board review to ensure the proposed building is in harmony with the surrounding buildings. The building elevations indicate that each residential unit will include either a balcony or roof terrace, depending on the unit location and size. While the floor plans have not been finalized, the conceptual plans call for a variety of unit designs to be used in this phase of the development and include some 2-story 'duplex-type' units. The Petitioner submitted information that calls for I-three bedroom unit, 28-2-bedrooms units, and 23- one-bedroom units. The attached Landscape Plan provides the size, general type, and location of proposed plantings for the Subject Property. The plan indicates hardscape improvements such as planter boxes in front of the storefronts, brick pavers, and Village logo incorporated into the streetscape design at the corner of Emerson Street and Busse Avenue. The interior parking lot landscaping proposal is in keeping with the VilJage's adopted streetscape program. However, the improvements proposed for the public right-of-way require approval from the Director of Public Works. The color elevation indicates that each storefront will have an awning and a sign band above each window. In order to ensure the storefronts maintain the character of the downtown core, the Petitioner must include provisions in the tenant leases for signage to be installed prior to each tenant obtaining a Certificate of Occupancy. The proposed development calls for 52 units, but no more than 54 units on 0.74 acres, or 70.2 units per acre. The Zoning Code requires a maximum density of 30 units per acre in the BSC District, but Sec. 14.504.c.4 allows for up to 80 units per acre. The Petitioner's site plan shows that the surface lot will be reconfigured, but still be utilized by the existing retailers and the tenants of the proposed development. The Village's Zoning Ordinance requires new office/retail developments in the B5 District to provide 4 spaces per 1,000 square feet in excess of 1,500 square feet of floor area. The Petitioner submitted a site plan that illustrates proposed improvements to the existing surface parking lot. The improvements include eliminating a driveway on Busse A venue and reconfiguring the lot so all parking spaces are 90-degree angles. Also, the existing trash enclosure area will be relocated by providing an internal refuse area, and landscaping and hardscaping will be added throughout the lot. In addition, on-street parking will be available on Emerson Street and Busse Avenue. The proposal includes approximately 14,000 square feet of retail space on the first floor of the structure. Village Code requires 50 parking spaces for the retail space. The site plan provides 13 on-site spaces in addition to the 45 spaces located on the surrounding interconnected surface parking lot" In conjunction with this proposal, the Village is proposing streetscape improvements that will provide 11 diagonal spaces on the west side of Emerson Street, 13 spaces along the north side of Busse Avenue and 7 along the south side of Busse Avenue between Main Street and Emerson Street. These spaces and the 383 spaces constructed in the Village Parking Deck are intended to serve the subject development and other commercial properties within the Village's downtown. Planning & Zoning Commission Arlene Juracek, Chairperson PZ-29-04 Page 4 Residents who live above the retail development would have an underground parking lot exclusive to their use" The amount of parking required for the residential units is based on the number of bedrooms. The Petitioner's plans indicate that access to the underground parking lot would require using the existing ramp, which services the underground parking lot for the Lofts residences. The proposed underground lot would be separate from the Loft lot and would include 58 standard parking spaces and one handicap space for the residents. However, the Petitioner is required to provide additiona1 handicap spaces as required by the Illinois Accessibility Code because the building is new construction, Therefore, the parking configuration would be adjusted to include 3 handicap spaces, which results in 54 standard spaces. The Petitioner's submittal indicates that the proposal wìH not comply with the Village's parking regulations. However, they may have the ability to utilize parking spaces that have not been sold or assigned in the adjacent Lofts deve1opment. The Petitioner must demonstrate that they are providing sufficient parking or modify the underground garage to accommodate sufficient spaces. The standards for Conditional Uses listed in the Village Zoning Ordinance inc1ude seven specific findings that must be made in order to approve a Conditional Use. A summary of these findings is: the Conditional Use wiH not have a detrimental impact on the public health, safety, morals, comfort or general welfare; the Conditional Use win not be injurious to the use, enjoyment, or value of other properties in the vicinity or impede the orderly development of those properties; adequate provision of utilities, drainage, and design of access and egress to minimize congestion on Village streets; and compliance of the Conditional Use with the provisions of the Comprehensive Plan, Zoning Code, and other Village Ordinances. The Zoning Code states that the purpose of the B5 district is to accommodate retaiJ and specialty shops and business, professional uses characteristic of a traditional downtown area, and permit higher density multi-family residential uses. The proposed mixed-use commercial and residential development is in keeping with that purpose statement. Also, the Conditional Use request is proposed to fulfiJi the provisions of the Village of Mount Prospect Downtown Strategic Plan. The proposed development would add another focal point to the downtown redevelopment and compliment the new Village Hall. In general, the proposal supports and furthers the goals of the Strategic Plan. Subject to compliance with the conditions of approval, the proposal will comply with the provisions of the Comprehensive Plan and Zoning Ordinance. The development will have a positive effect on nearby properties and stimulate further development of the downtown core area, The development is designed to 'match' the Lofts & Shops development and foster pedestrian activity and multiple-use trips. Therefore, the development will have a limited adverse impact on the adjacent neighborhoods, utiJity provision or public streets. Based on these findings, Staff recommends that the Planning & Zoning Commission recommend approval of the Petitioner's request for Planned Unit Development proposal, subject to the following conditions: I. Development of the site in conformance with the site plan and general floor plans prepared by Haylock Design, Inc, dated June 9, 2004, but revising the underground parking to reflect the required number of handicap stalls; 2, Development of the building in conformance with the elevations prepared by Haylock Design, Inc. and DLK Architecture, dated June 9, 2004; 3. The Petitioner shall demonstrate the ability to provide alternative spaces or mcrease the number of underground parking spaces to 67 to meet Village Code requirements. Planning & Zoning Commission Arlene J uracek, Chairperson PZ-29-04 Page 5 4. The Petitioner shall have each tenant lease include provisions that awnings and wall signs are installed prior to obtaining a Certificate of Occupancy; 5. Prior to Village Board review, the Petitioner shall submit: . Building material samples; . Detailed floor plans for the residences; . Details on how refuse will be handled for the Lofts & Shops development; and . Details on how refuse will be handled for the proposed new development. 6" Prior to obtaining a Final Certificate of Occupancy, the Petitioner shall prepare a plat of Resubdivision that consolidates the Subject Property to one-lot of record, with the plat including the applicable easements as required by the Village Code; and 7. Develop the site in accordance with all applicable Village Codes and requirements, including, but not limited to, Fire Prevention Code regulations, lighting regulations, Sign Code regulations, and building regulations. Mr. Rogers asked ifthe requested PUD was for this property alone" Ms. Connolly said yes. Mr. Donnelly asked on which property the ramp was located. Ms. Connelly said the petitioner would need to clarify that. Discussion followed regarding surface, underground, commercial, residential and Village Garage parking usage, all to be covered later by the petitioner. All speakers for Norwood Builders were sworn in at once and then Bruce Adreani, President of Norwood Builders, introduced Jennifer Tammen, their Director of Planning, Steve Messutta, their Attorney, Caroline Vuilmahn, their Director of Finance, Tony Manno, their Intern, and from Haylock Designs: Matt Haylock with his project managers Edward Kurzeja and Ryan Powers; and from DLK Architecture: Kevin Kent & Charles Crump. He also introduced Howard Dakoff of Levinthal Pearlstein to answer any questions on Condominium Law. Mr. Adreani said he is glad to be here and proud of the award-winning buildings he has built in the Village to date. Jennifer Tammen stepped up to the podium and presented a Power Point Proposal for the Redevelopment of the V illage Hall Site. She explained the underground parking for residents and said the surface parking for the retail would be for the common good of all the stores in the immediate complex. The owner of the northwest portion of the property would maintain parking and trash, Prior to the Village Board meeting they will be revisiting their plan for handicapped parking. Kevin Kent of DLK Architecture presented the plans and elevations of the proposal via the poster boards at the easels. Mr. Kent pointed out that the walls on the first floor could be moved to accommodate larger retail stores, if needed. The second and third floors would contain one-level residential units and the fourth and fifth floors would contain a mix of one and two-level units. The "L" shaped building will be developed with an asymmetrical roof, having brick, limestone and stucco building materials used in the construction. Mr. Rogers asked and was assured that the stucco to be used was indeed stucco, not Dryvit. Charles Crump of DLK Architecture was the next speaker and addressed the landscape and streets cape plan. He stressed the idea of "drawing in" the downtown and instilling a community feefing with the landscaping. They have worked with Public Works staffto determine the best type of plants and trees to use, They feel this plan ties in quite well with the other downtown landscaping, given the limited setbacks. Mr. Rogers asked if they stayed within the staff guidelines and he responded, "absolutely". Planning & Zoning Commission Arlene Juracek, Chairperson PZ~29~O4 Page 6 Ms. Tammen said that concluded their presentation. Mr. Rogers asked her to address the parking issues brought up earlier, particularly the conveyance of the seven spaces from the Lofts property, Steve Messutta, General Counsel for Norwood Builders stepped up to say there are many components to the Lofts building. He added that Bill Cooney and he had spoken back and forth about how to handle the different components, especially the ramp space. They decided that eventually when the Village Hall site was redeveloped, the Village Lofts, LLC entity would retain title to the ramp area and grant easements to the association and condo until it was known what would be done with the Village Hall site and then Village Lofts, LLC would convey the ramp and the ramp area to the association or to another owner on the block, granting all the easements necessary to the association to gain access through the ramp to either the garage and the existing building and the Lofts or the new building being considered this evening. That was one agreement, and indicated that there were several more that the Director and he made, among those are several recorded agreements relative to cost sharing for building, and sharing the ramp. There are insurance provisions, cross~ easements, and many things that work quite well. That is where he had hoped to work out an agreement to exchange parking spaces between the Lofts and Village Hall properties. Originally it was thought that retail store employees could park on this site and when it became obvious that wouldn't work, arrangements were made for them to park in other Village parking lots until the Village parking structure became available. At that time, the Village employees would be moved there and the Village Hall parking spaces would be available for retail store employees and customers, with the right to have extended hour or even overnight parking if necessary. Mro Donnelly asked which entity owned the parking lot. Mr. Messutta said the commercial stores owned the rear parking lot but it is slathered with easements. The Village will continue to maintain the lot for parking and snowplowing purposes. Mr. Rogers opened the hearing to the public for questions. Chris. Walsh, 40 E. Northwest Highway, Unit 307, was sworn in and testified that he was recently elected Board President and the committee members like the building and look forward to the development of Mount Prospect but they do have several concerns. Two weeks ago they attempted to purchase an underground parking place and were told none were available although when they purchased their condo they were told there were 34 condos and 56 spots, They live in the building and feel they should get first right of refusal for the spaces. He also questioned the scale of the elevation drawings of the proposal. Kim Berki, 40 R Northwest Highway, Unit 306, came forward and testified that the parking has made them miserable and they think they will need to move because her husband has no place to park his car. They have explored all options and there is no answer. They invite guests and there is no place for them to park; they must wait for customers to leave Oberweis before they can park. This new proposal will take away another whole strip of parking spaces and make the situation much worse. Mark Baumhart, 416 HiLusi, has lived in Mount Prospect 25 years and wanted to thank the Board and Norwood Builders for spending the last 5-7 years making Mount Prospect a modern community and one of the nicest northwest suburbs. Mr. Rogers thanked him for his comments. Valerie DeLuca, 40 E. Northwest Highway, Unit 202, was sworn in and said she was one of the people who had e-mailed, listing questions about parking and elevations, One of her questions was about the ramp. What will happen to their parking while the building is being constructed ~ will they be able to use the spaces? When they purchased their unit they were allowed one parking space and discouraged from purchasing another, told they would have no problem using another space or surface parking. They were not told another building like theirs would be built to share their parking. They feel their one-bedroom unit should be counted as two-bedrooms when allocating parking spaces because it actually has as many square feet. They like living in Mount Prospect and are in favor of development but feel they were deceived. Planning & Zoning Commission Arlene Juracek, Chairperson PZ-29-04 Page 7 Wes Pinchot, 747 Whitegate, was sworn in. He is a former architect and a longtime resident. He feels this is too ambitious a project and also overly ambitious for parking. He feels the issue of the ownership of the extra spaces in the original underground parking needs to be clarified. He also said the developer of all these downtown condos should persuade a food shop to open downtown to serve all these condominium dwellers. One gentleman said he came in from Texas heading into Arlington Heights through Mount Prospect, loved it, loved the logo, bought his condo and settled here. He said he was happy he did, up until this point. He indicated the other condo owners and said they had all invested $300,000-$500,000 and were not aware they would have to be co-sharing garage space with another building and have to go through many different doors, sharing lobby space, and have the inconvenience and lack of security of carrying more keys for opening more doors. Richard Rogers said there seems to be a certain amount of disappointment from the current residents ofthe Lofts and asked the petitioner to address their comments. Ms. Tammen came forward and said the original Lofts development agreement required a parking ratio of 1.4 spaces per unit, irrespective of bedroom mix. With respect to communication of any excess spaces and who would control ownership of those, Ms. Tammen said she wanted to read into the record what the salesperson actually said. Christine Cudzlo, Sales Manager, had contacted the salespeople on-site and referenced discussions with Mr. and Mrs. Walsh specifically in which she told them no additional parking was available in the municipal lot and should any underground spaces be left after all units are sold, the remaining spaces are the property of the management, Village Lofts, LLC Ms, Tammen said it is true that in the beginning they did sell second spaces with units but as it became evident they would have the opportunity to build a second building and need more spaces for that building they decided not to sell any more spaces with those units. Ms. Tammen said surface parking was not figured in the calculations. It is a downtown development and parkers will probably have multiple tasks in the area. Mr. Donnelly asked if an individual who is not a condominium owner could buy a parking space. Howard Dakoff, a partner with Levinthal Pearlstein and Counsel for Norwood Builders came forward. He had been sworn in earlier and answered Mr. Donnelly's question, "No", many condos do allow non-unit owners to purchase parking spaces but Village Lofts, LLC has easements forbidding such sales. These easements were all written up in the original Disclosure Statement given to all prospective buyers. Section D said the developer may bring in an additional building as part of this development and you will share common elements with it. This Declaration was recorded before the first closing. Legally, this is all one property; this is what you must understand. The buyers and/or their lawyers were responsible for reading/interpreting the Disc losure/Oec larati on. Mr. Donnelly and Mr. Cotten asked who owned the surface parking of the complete development. Steve Messutta stepped up to the dais and said the Village is responsible for the maintenance and signage of the surface parking. Mike Jacobs, Deputy Director of Community Development, said he was not able to confirm what was in the stack of condominium documents in the Director's absence but he had some comments regarding parking. There is a development agreement between the Village and Norwood for the Shops and Lofts for 1.4 spaces per unit, which results in 48 spaces. 34 spaces went to unit owners and 6 spaces have been purchased, leaving 8 spaces. This proposal requires 67 spaces and the petitioner is planning to use the remaining spaces from the Lofts Building but still needs a Variation for 2 additional spaces. The Board members must decide if they are comfortable granting that request or do they wish to deny or modify the request. There is some flexibility regarding surface parking for restaurants downtown as opposed to restaurants in a strip mall. In this case there Planning & Zoning Commission Arlene J uracek, Chairperson PZ-29-04 Page 8 are on-street spaces and an over 380 space parking deck nearby for employees and customers of businesses, the Village, and Library, Joe Donnelly asked if overnight parking was aUowed on the surface retail lot and was told it was not. Steve Messutta came forward and read from a Village document that "overnight parking shall be allowed from April 1 up to and including November 1 annually", so that snowplows would not have to go around parked cars. Mr. Messutta said Norwood has no objections to overnight parking, it is up to the Village to remove the restriction. Keith Youngquist said he knows there will be complete turmoil on the surface parking lot during construction, is there a way to expand the underground parking to accommodate the missing surface parking, Mr. Adreani said that when you go down the ramp there are two garage doors, The loft residents turn left and the Village Hail side will turn right and the two spaces they are seeking a variance for could also be placed to the right. Underground parking spaces are very expensive to put in, he said he has never been compensated fully for the cost of one; but if that is what it takes to obtain the Variation, he will do it. Mr. Youngquist said he totally agrees that it is difficult and expensive to build underground. Ms. Tammen said the architect is sketching this right now. They asked for time to confer privately. Mr. Rogers said he would allow several audience members to come forward and speak while the Norwood people conferred. Wes Pinchot came to the dais again and said the current Loft owners are concerned about parking and he would like to know how the on~site parking could satisfy the retail requirements. Ms. ConnoHy said that the parking deck supplementing the on-site and street parking would satisfy the retail parking requirements. Mro Messutta asked when the ViBage Board meeting would meet and was told August 17th. He asked that the Zoning Board approve the Variation for the 2 parking spaces and if they find the space exists for the 2 spaces before the Viilage Board meets, they will do that in lieu of the Variation. Mr. Rogers took another question from the audience. Ms. De Luna explained the inconvenience of parking underground and bringing groceries up to their unit and said if they can find room for 2 more spaces why can't they find space for 8 more spaces. Mr, Adreani said that was not possible. Mr. Rogers told the Loft owners who wanted another space to take advantage of extra spaces for sale under the new building before the new unit owners realize they need another space and want to purchase them. He then closed the Public Hearing at 10:34, Joe Donnelly made a motion to approve the request for approval of: a Conditional Use/Planned Unit Development to allow a 5-storymixed-use building with retail on the first floor and condominiums on the upper floors; and other relief from the Village Code, including setbacks and parking, as may be required to allow for the proposed development of the Property at 100. S. Emerson St., PZ-29-04, with the 7 recommendations set forth by staff and with the 67 parking spaces. Leo Floras seconded the motion, with reservations about future parking problems. Mr. Jacobs suggested if they had concerns, Board Members could add an amendment that 67 spaces be provided solely under the proposed structure. Mr. Rogers said he thought that 7 spaces wouldn't help; the downtown congested area will not have enough parking. The deck will alleviate but not cure the situation. To penalize these people for our parking situation is not fair; they have adequate parking for their structure by our Zoning Ordinance. He said he thought the Village needed to do more to provide additional parking. Mr. Jacobs said all Village employees had already begun parking their cars in the new parking deck on a daily basis to free up the Planning & Zoning Commission Arlene Juracek, Chairperson PZ-29-04 Page 9 lot behind Village Hall. Mr. Floros said that has helped and other area business owners and employees should do the same. Mr. Rogers asked for a vote on the motion. UPON ROLL CALL: AYES: Cotten, Donnelly, Floros, Rogers, Youngquist NAYS: None Motion was approved 5-0. At 10:35 p.m., Joe Donnelly made motion to adjourn, seconded by Leo Floros. The motion was approved by a voice vote and the meeting was adjourned. R\PLAN\Planning & Zoning COMM\P&Z 2004\Minutes\PZo29-04 ;00 S Emerson St Norwood Bldrs.doc Village of Mount Prospect Community Development Department CASE SUMMARY - PZ- 29-04 LOCATION: 100 S. Emerson Street PETITIONER: Norwood Construction, Inc. OWNER: Village of Mount Prospect PARCEL #: 08-12-108-002-/003/004/040 LOT SIZE: 0.74 acres ZONING: B5C Central Commercial Core LAND USE: Village Hall REQUEST: Conditional Use (Planned Unit Development) LOCATION MAP Central Road :'<IEW Viii... 50 11.11 1 2 4 5 6 8 10 12 14 Hi 19 20 21 .E..J 00 I 3 S 7 .... 9 ~ 11 C, ... IJ .... " 15 C, -;::: 17 ~ 21 5 .... C, f; II - í.fJ æ ~ M..., P"'I'«< ,"blic Ubra.,. 10 hrlU.. Deck :; Busse Avenue ~ - 101 Village of Mount Prospect Community Development Department MEMORANDUM TO: MOUNT PROSPECT PLANNING & ZONING COMMISSION ARLENE JURACEK, CHAIRPERSON FROM: JUDY CONNOLLY, AICP, SENIOR PLANNER DATE: JULY 8, 2004 HEARING DATE: JULY 15,2004 SUBJECT: PZ-29-04 - CONDITIONAL USE (PLANNED UNIT DEVELOPMENT) 100 S. EMERSON STREET BACKGROUND A public hearing has been scheduled for the July 15, 2004 Planning & Zoning Commission meeting to review the application by Norwood Construction, Inc. (the "Petitioner") regarding the property located at 100 S. Emerson Street (the "Subject Property") for the purposes of a Planned Unit Development (PUD) consisting of first floor retail/commercial and four stories of residential (condominiums). The P&Z hearing was noticed in the June 23, 2004 edition of the Journal Topics Newspaper. In addition, Staff has completed the required written notice to property owners within 250-feet and posted a Public Hearing sign on the Subject Property. PROPERTY DESCRIPTION The Subject Property is located at the southwest corner of Busse Avenue and Emerson Street, and consists of a 2- story municipal building with related improvements. The Subject Property is zoned B5C Central Commercial Core and is bordered by the B5C District on all sides, but an Rl Single Family District is to the northeast. PLAN REVIEW PROCEDURES The Mount Prospect Downtown Strategic Plan, which was adopted by the Village Board as part of the Comprehensive Plan in 1998, created a vision for the downtown based on work by the Ad Hoc Committee with input from the residents of Mount Prospect. In the time since the plan was adopted, a great deal of work on downtown redevelopment has been completed. The most recent is the construction of a new Village Hall and parking deck. As you recall, Phase lA of Downtown Redevelopment, The Village Centre Residences, consists of 205 condominiums and a public parking lot. The project was approved in 1999 and the last and final building is complete, pending minor interior modifications. Phase IB of Downtown redevelopment, The Lofts & Shops, consists of a mixed-use development at the northeast corner of Main Street and Northwest Highway. This phase of the plan is complete, pending minor interior changes per tenant requirements. PZ-29-04 Planning & Zoning Commission Meeting July 15,2004 Page 3 Phase III includes the soon-to-be former Village Hall site. The Petitioner's application calls for the development of the Subject Property as a mixed-use Planned Unit Development (POD). The Petitioner's plans are consistent with the Mount Prospect Downtown Strategic Plan and calls for first floor retail with four stories of residential above the retail tenants. Per the Vi1lage's Zoning Ordinance, the review procedure for a POD requires review and recommendation by the P&Z Commission and final action by the Village Board" In reviewing the current application, the P&Z Commission should consider that the Petitioner has been working with the Village Board on this proposal and that the proposed density was negotiated as part of the agreement. Also, the development proposal is somewhat conceptual since the Petitioner has not secured leases for the first story retail and has to finaUze floor plans for the residential units. SUMMARY OF PROPOSED DEVELOPMENT As illustrated on the attached site plan, the Petitioner is proposing a mixed-use development consisting of: . 14,000 square-feet of ground floor retail; At least 52 but no more than 54 residential (condominium) units; Modification of the existing surface parking lot that is currently shared by Village employees and. the adjacent retailers' employees and customers. . . In addition to the proposed 5-story building, the development would include on-street parking and landscaping of private and public areas. The proposed development is consistent with the Village's Downtown Strategic Plan, which ca!ls for the Subject Property to be a 4 to 5 story, mixed-use development. The Petitioner is seeking approval for the proposed Planned Unit Development. REVIEW OF APPLICATION CO1UPONENTS POD Proposal: The proposed development consists of one building located on multiple lots of record. The site indicates that the building is an "L" shape and would front on Emerson Street and Busse Avenue" The proposed building would include underground parking for the residences and its design entails using the existing. ramp currently used only by residents of the Lofts & Shops development. General Zoning Compliance . Building Setbacks - The ViHage's Zoning Ordinance does not require building setbacks for the BSC District for most developments. Building setbacks are specified only when a site is adjacent to residential development. The Subject Property is not adjacent to residential. However, the Site Plan indicates that the proposed building would have varying setbacks, but no less than 12.5' from the east (Emerson Street) property line and no less than I-foot from the north (Busse Avenue) lot line. Therefore, the proposal meets the Zoning Ordinance's minimum setback requirements. . Building Height ~ The submitted plans specify a building height of 65.5' height at the top of roof, but it appears that a small portion of the building may extend slightly past this height. The B5e District allows a maximum building height of 80 feet and the Petitioner's elevations indicate that the building height would not exceed this limitation" Final building plans indicating the correct height should be submitted prior to Village Board review. . Building Elevations - The color elevation indicates that the style of the proposed building wouId be in keeping with other buildings recently constructed as part of the downtown redevelopment. The building PZ-29-04 Planning & Zoning Commission Meeting July 15,2004 Page 4 incorporates elements of existing developments, but has staggered heights and uses a variety of building materials. However, the building materials must be finalized prior to Village Board review to ensure the proposed building is in harmony with the surrounding buildings" The building elevations indicate that each residential unit will include either a bakony or roof terrace, depending on the unit location and size. While the floor plans have not been finalized, the conceptual plans call for a variety of unit designs to be used in this phase of the development and include some 2- story 'duplex-type' units. The Petitioner submitted information that calls for (1) three bedroom unit, (28) 2-bedrooms units, and (23) one-bedroom units. . Landscaping - The attached Landscape Plan provides the size, general type, and location of proposed plantings for the Subject Property. The plan indicates hardscape improvements such as planter boxes in front of the storefronts, brick pavers, and Village logo incorporated into the streetscape design at the corner of Emerson Street and Busse Avenue. The interior parking lot landscaping proposal is in keeping with the Village's adopted streetscape program. However, the improvements proposed for the public right-of-way require approval from the Director of Public Works (Sec. 9.708.A). . Signage - The color elevation indicates that each storefront will have an awning and a sign band above each window. In order to ensure the storefronts maintain the character of the downtown core, the Petitioner must include provisions in the tenant leases for signage to be installed prior to each tenant obtaining a Certificate of Occupancy. . Density - The proposed development calls for 52 units, but no more than 54 units on 0.74 acres (or 70.2 units per acre). The Zoning Code requires a maximum density of 30 units per acre in the BSC District, but Sec. 14.504.C.4 allows for 80 units per acre. Parking The Petitioner's site plan shows that the surface lot will be reconfigured, but still be utilized by the existing retailers and the tenants of the proposed development. The Village's Zoning Ordinance requires new office/retail developments in the B5 District to provide 4 spaces per 1,000 square feet in excess of 1,500 square feet of floor area. . Parking - Surface Lot - The Petitioner submitted a site plan that illustrates proposed improvements to the existing surface parking lot. The improvements include eliminating a driveway on Busse Avenue and reconfiguring the lot so all parking spaces are 90-degree angles. Also, the existing trash enclosure area will be relocated (an internal refuse area wi!! be provided) and landscaping and hardscaping will be added throughout the lot. In addition, on-street parking will be available on Emerson Street and Busse A venue. The proposal includes approximately 14,00 square feet of retail space on the first floor of the structure. Village Code requires 50 parking spaces for this retail. The site plan provides 13 on-site spaces in addition to the 45 spaces located on the surrounding interconnected surface parking lot. In conjunction with this proposal, the ViHage is proposing streetscape improvements that will provide 11 diagonal spaces on the west side of Emerson Street, 13 spaces along the north side of Busse Avenue and 7 along the south side of Busse Avenue between Main Street and Emerson Street. These spaces and the 383 spaces constructed in the Village Parking Deck are intended to serve the subject development and other commercial properties downtown. Residents who live above the retail development would have an underground parking lot exclusive to their use. The amount of parking required for the residential units is based on the number of bedrooms. PZ-29-04 Planning & Zoning Commission Meeting July 15,2004 Page 5 . Parking Lot - Underground Lot - The Petitioner's plans indicate that access to the underground parking lot would require using the existing ramp, which services the underground parking lot for the Lofts residences. The proposed underground lot would be separate from the Loft lot and would include 58 standard parking spaces and one handicap space for the residents. However, the Petitioner is required to provide additional handicap spaces as required by the Illinois Accessibility Code because the building is new construction. Therefore, the parking configuration would be adjusted to include 3 handicap spaces, which results in 54 standard spaces. The Petitioner's submittal indicates that the proposal wi!! not comply with the Village's parking regulations. However, they may have the ability to utilize parking spaces that have not been sold or assigned in the adjacent Lofts development. The Petitioner must demonstrate that they are providing sufficient parking or modify the underground garage to accommodate sufficient spaces. The foUowing table summarizes the Petitioner's proposal and the Village Code requirements. : Bedroom(s) One # Bedroom T 23 Three 2 2 Total Required: 67 Total Proposed: 51 . (3 hie spaces, .54 standard) Two 1.5 28 42 CONDITIONAL USE STANDARDS The standards for Conditional Uses are listed in Section 14.203.F.8 of the Village Zoning Ordinance and include seven specific findings that must be made in order to approve a Conditional Use. The following list is a summary of these findings: II The Conditional Use will not have a detrimental impact on the public health, safety, morals, comfort or general welfare; The Conditional Use will not be injurious to the use, enjoyment, or value of other properties in the vicinity or impede the orderly development of those properties; . II Adequate provision of utilities, drainage, and design of access and egress to minimize congestion on Village streets; and Compliance of the Conditional Use with the provisions of the Comprehensive Plan, Zoning Code, and other Village Ordinances. . The purpose of the B5 District states, "The district is intended to accommodate retail and specialty shops and business, professional uses characteristic of a. traditional downtown area," and "permits higher density multi- family residential uses." The proposed mixed-use commercia! and residential development is in keeping with that purpose statement. Also, the Conditional Use request is proposed to fulfill the provisions of the Village of Mount Prospect Downtown Strategic Plan. The proposed development would add another focal point to the downtown redevelopment and complement the new Village Hall. In genera!, the proposal supports and furthers the goals of PZ-29-04 Planning & Zoning Commission Meeting July 15,2004 Page 6 the Strategic Plan. Subject to compliance with the conditions of approval, the proposal will comply with the provisions of the Comprehensive Plan and Zoning Ordinance. The development will have a positive effect on nearby properties and stimulate further development of the downtown core area. The development is designed to 'match' the Lofts & Shops development and foster pedestrian activity and multiple-use trips. Therefore, the development will have a limited adverse impact on the adjacent neighborhoods, utility provision or public streets. RECOMMENDATION Based on these findings, Staff recommends that the Planning & Zoning Commission recommend approval of the Petitioner's request for Planned Unit Development proposal, subject to the following conditions: I. Development of the site in conformance with the site plan and general floor plans prepared by Haylock Design, Inc, dated June 9, 2004, but revising the underground parking to reflect the required number of handicap stalls; 2. Development of the building in conformance with the elevations prepared by Haylock Design, Inc. and DLK Architecture, dated June 9, 2004; 3. The Petitioner shall demonstrate the ability to provide alternative spaces or mcrease the number of underground parking spaces to 67 (to meet Village Code requirements). 4. The Petitioner shall have each tenant lease include provisions that awnings and wall signs are installed prior to obtaining a Certificate of Occupancy; 5. Prior to Village Board review, the Petitioner shall submit: . Building material samples; . Detailed floor plans for the residences; . Details on how refuse will be handled for the Lofts & Shops development; and . Details on how refuse will be handled for the proposed new development. 6. Prior to obtaining a Final Certificate of Occupancy, the Petitioner shall prepare a plat of Resubdivision that consolidates the Subject Property to one-lot of record, with the plat including the applicable easements as required by the Village Code; and 7. Develop the site in accordance with all applicable Village Codes and requirements, including, but not limited to, Fire Prevention Code regulations, lighting regulations, Sign Code regulations, and building regulations. The Village Board's decision is final for this case. I concur: ~<L1~L. William J. Cooney, AICP, Director of Community Development Ijc K\P1.AN\Planning'" Zooi"g COMM\P..Z 2.....\S"dY M«no'J'Z-29"" MEMO (I'" S. Em""," - N"",ood PUD,dnc vwl/ 8111,12104 8112/04 W¡C 8/13104 ORDINANCE NO. AN ORDINANCE GRANTING A CONDITIONAL USE PERMIT iN THE NATURE OF A PLANNED UNIT DEVELOPMENT FOR PROPERTY LOCATED AT 100 SOUTH EMERSON STREET WHEREAS, Norwood Builders (hereinafter referred to as "Petitioner') , has filed a petition for a Conditional Use in the nature of a Planned Unit Development with respect to property generally known as 1 00 South Emerson Street (hereinafter referred to as the" Subject Property"); and WHEREAS, the Subject Property is legally described as follows: Property Index Number(s): 08-12-108-002 08-12-108-003 08-12-108-004 08-12-108-040 Lots 1, 4, and 5 in Block 13 in Busse and Wille's Resubdivision in Mount Prospect in the West half of Section 12, Township 41 North, Range 11 East of the Third Principal Meridian, according to the Plat thereof recorded March 31, 1906 as Document Number 3839591, also Lot 3 in Village Centre Phase 1-8 being a Subdivision of Part of the Northwest Quarter of Section 12, Township 41 North, Range 11 East oUhe Third Principal Meridian, according to the Plat thereof recorded December 6,2001 as Document Number 0011155055, in Cook County, Illinois; and WHEREAS, the Petitioner desires to create a Planned Unit Development providing for the construction of a mixed-use structure containing 14,000 sq. ft. of commercial space, and 52 condominium units, with 24 on-site surface parking spaces and 60 underground residential parking spaces, as provided in Section 14.1904 of the Village Code; and WHEREAS, a Public Hearing was held on the request for a Conditional Use permit, designated as PZ-29-04, before the Planning and Zoning Commission of the Village of Mount Prospect on the 15th day of July, 2004, pursuant to due and proper notice thereof having been published in the Mount ProsDect Journal & TODics on the 23rd day of June, 2004; and WHEREAS, the Planning and Zoning Commission has submitted its findings and recommendation to the President and Board of Trustees of the Village of Mount Prospect; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have considered the request being the subject of PZ-29-04 and has determined that the best interests of the Village of Mount Prospect would be served by granting the Conditional Use permit in the nature of a Planned Unit Development as requested in PZ-29-04. ':ß Page 2/2 100 S. Emerson Street NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILUNOIS: SECTION ONE: Thafthe recitals set forth hereinabove are incorporated herein as findings of fact by the President and Board of Trustees of the Village of Mount Prospect. SECTION TWO: That the Conditional Use in the nature of a Planned Unit Development being the subject of this Ordinance is subject to the fojowing conditions: 1. Development of the site in conformance with the site plan and floor plans prepared by Haylock Design, Inc, dated August 9, 2004; 2. Development of the building in conformance with the elevations prepared by Haylock Design, inc. and DLK Architecture, dated August 9, 2004; 3. The Petitioner shall have each tenant lease include provisions that awnings and wall signs are installed prior to obtaining a Certificate of Occupancy; 4. Prior to obtaining a Fina! Certificate of Occupancy, the Petitioner shail prepare a plat of Resubdivision that consolidates the Subject Property to one-lot of record, with the plat including the applicable easements as required by the Village Code; and 5. Develop the site in accordance with all applicable Village Codes and requirements, including, but not limited to, Fire Prevention Code regulations, lighting regulations, Sign Code regulations, and building regulations. SECTION THREE: This Ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form in the manner provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this day of ,2004. ATTEST: Gerald L. Farley Village President Velma W. Lowe Village Clerk HICLKOlfiles\WIN\ORDINANCICon Uss,PUD,Norwoad, 100 S Emersan- Aug 2004.doc THE PINNACLE AT VILLAGE CENTRE LLC 7458 North Harlem Avenue * Chicago, IL 60631 Tel.773.775.5400 * Fax.773.775.4330 August 9, 2004 Mr. William Cooney Director, Community Development Village of Mount Prospect 100 S. Emerson Street Mount Prospect, IL 60056 VIA HAND DELIVERY Subject: Application for Conditional UselPUD Approval: 100 So Emerson Street, Mount Prospect, IL (PZ-29-04) Submittal for 8/17/04 Village Board Hearing Dear Bill: Please find enclosed the requested information as specified and required by the Village staff report recommendations dated July 8, 2004 and approved by the Planning and Zoning Commission on July 15,2004. These items include the following: 0 20-11" X 17" sets of the revised site plan, landscape plan, floor plans, elevations, and color rendering 0 20 full size (24" X 36") sets of the Preliminary Engineering Plans 0 20- 8 12" X 11" sets of the detailed unit plans for the residential condominiums 0 Building materials samples 0 Information regarding refuse handling for the Shops and Lofts development and the proposed development at the subject site Also, please note that we are working to designate the name "The Pinnacle at Village Centre LLC" as the legal development entity for this development This will not necessarily be the project name, Our plans still reflect the "title" to be "New Condominium and Retail Building at 100 S. Emerson Street, Mount Prospect, Illinois." We appreciate the time and effort expended by you and your staff to assist us in the approval process. We look forward to presenting our proposal to the Village Board at the public hearing on August 17. If you have any questions, or need any other information, please do not hesitate to contact me at 773353.3129. "" ~-- -_._"- ---" n.'_" -, - - n~n~nn_"- - - N_"_n"""O- ""-~"--_."' ,--- n._- n>- -- ,m, ,-, - _."-".,"-"-c-"-c-"_p_W~,nm_w"w"-"'-~ W -"wc'w"-'"'"-"""'"'N"~-w--_"_-m~~_w_>_'m_' THE PINNACLE AT VILLAGE CENTRE LLC Mr. William Cooney ~onday,i\ugust9,2004 <:~1~\ ~ Director of Planning Enclosures Cc: Bruce J. Adreani James Ao Adamo Stephen S. Messutta Ronald E. Radzik Susan J. Smith Christine Kutt-Zolt Kevin Kemp, DLK Architecture Matthew S. Haylock, Haylock Design, Inco James C. Kapustiak, SPACECO, Inco """" ~ ~--"""", '"-~"","'"'"'"'"»mm~m"'"'"'"' ,c,-,' c"~"~~ """"""mmm~"-_wm~==NN""~=~ August 9, 2004 Application for Conditional UselPUD Approval: Prospect, IL (PZ-29-04) Submittal for 8/17/04 Village Board Hearing 100 S. Emerson Street, Mount Subjects: A. Details on how refuse will be handled for The Lofts and Shops Development. B. Details on how refuse will be handled for the proposed new development. (100 S. Emerson) Retail Refuse Management 100 S. Emerson (Proposed) and Shops & Lofts at Village Centre After much discussion and research into the refuse collection and disposal for these two projects the following has emerged as the best option: An automatic hydraulic trash compactor will best serve the needs of aU the present and proposed retailers for an efficient and cost effective collection system. Description of Compactor: L Compactor will be located in The 100 S. Emerson building. A compactor room will be constructed parallel to parking ramp (location noted on enclosed map). This room will be approximately 12' x 25' in size. Room will be ventilated, sprinklered, of masonry construction, walls to be sealed to facilate wash down procedures, and water and drainage will be provided for wash down. 2. Compactor will be 20 c.y. in size. This equates to approximately 200 c.y. of uncompacted refuse. It will be powered by 208 volts 3 phase and a hydraulic pump. Retail refuse will be placed in a collection bin (2 yards in size). Each retail store will be given a "Key Card" that will activate compactor. This card system gives only card holders access to the device and also records each use. Compactor will be in locked room to keep general public at bay and at a safe distance. The compactor stores both solid waste and liquid waste. Solid waste is stored in sealed trash compartment and liquid waste is stored in bottom waste tank. Page lof2 Created on August 9,2004 ----, ,._--_..~._---...-.~--~~._.'.'.-._._'.-m.'.'.'m.~_.-m.-.'.'>-'.'.'.--=" ,.,.-.., ,---,-,',-,-' -'------'-"-"------"',---,-".,--",,~,~""""".--=.'.'.w.= The entire unit is removed from the room for emptying procedure. The power unit is only item remaining during emptying. The compactor will be serviced and maintained by supplier. The location of compactor was chosen for the following reasons. A. B. C. D. Convenient for both buildings. Sufficient access for removing container by scavenger service. Least intrusive to residential and retail occupants of complex. Least impact architecturally to building. It is estimated that this compactor will hold approximately 2 weeks worth of garbage when both buildings are fully occupied and operational. This period of pickup can be extended or shortened to best utilize this device. Since all the retail is not now occupied and all users have not been identified this time is only an estimate. An advantage of this system is that it can be adjusted to handle the needs of various retail uses. Residential Refuse 100 S. Emerson (Proposed) and Shops & Lofts at Village Centre A trash collection room in each of the buildings consists of a chute and a typical I-yard collection cart. Process for removal is service comes in, removes cart from room, and exits garage to truck. This is the method currently utilized at the Shops and Lofts, Village Centre, etc. Page 2 of2 Created on August 9, 2004 ~~ ~ ~ ~--~--~- <mm~~~' ~. ~ . ..~~. ~~~'m"~~'"~'~'~wm.w~'~'~'~'~'~'m'm'~'~'~'~'~"~'"=",,o,',~,'<.w,'~~,wm~~_w,"'~W," ",.,.,,','0' ,,~,','mmm,',=,',W,','^ Residential Parking Ratio Analysis: Comparable Norwood Developments Community Campbell Courte- Arl. Hts.* Library Courte- Des Plaines* Beacon Place- LaGrange Lincoln Place- Lombard Village Centre- M.P. A vg. Res. Pkg. Ratio Vìllage Lofts- M.P. Total Overall Units Parking Ratio 91 I 119 1.31 178 246 1.38 1.15 1.10 1.31 1.30 1.41 Notes Campbell Courte has 129 spaces total. Ten spaces are unsold. Developer will have to assign remaining 18 spaces if not sold. Village Lofts contains 55 spaces. 7 spaces can be allocated (as originally intended) to the proposed development on the V.H. site and still satisfy the parkingreq's for the Lofts. 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UNIT 512 "ODEL 1,'91 s.I, I'D TYPE R UNIT 408 MOf)£l '.268 s.!, I'D TYPE R UNIT 407 m MODEL '.268 s.!, Upper Level 2 Story Unit 6AlWN'f I'D TYPE R UNIT 408 MODEL '.268 sJ. TYPE S m UNIT 4OØ MOOEL 1.660 s.1. Upper Level 2 Story Unit Upper Level 2 Story Unit BIILC.ON'f Upper Level 2 Story Unit Jr-" r=::::::-:=1 Ii --',--or n r !W.t.Ðm -..,........,............, i'l"i-Jl' 21t1-<1' 5th Floor Plan 0 ~ ~ ~ L_- . r I I b ~I l\AI..WNY TYPE H UNIT 513 "OOF.L 1.158 s,f. I'D TYPE G I'D UNIT sœ IotOI)EL 950 s.f. 4tI f-- --- !!§...q' f>i'-I)' ROOt' TfRR.'£E ~ m TYPE J UNIT 515 UOOEl 898 s.1. ~ TYPE B UNIT 514 MOOEl 949 d. TYPE N at UNIT 003 _EL ',D44 s,f. ROC!" ~E ~N ROOF 1'Erwa m TYPE L UNIT SO1 MODEL '.019 s,!, ED m TYPEM UNIT 502 UOOEL 1,'4' s,f, C!:I 17-0' 1~ 1 II-~I I "I : I ì I ! i I I I I JWOF TERRI\Œ 'll-<r g ; i~~ -c .J,J,@ .'~ 77 S!: ~~ .OD I.h I11III:: u" 9= >0" ..~ - ::1:< ~ 8 .- ð : ~~ ~g~ -[ z-,':' 8~~ - :!'J!õ ~ ~;; fill . "I~UZ .j~. ~~.. '!=! 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CI>Ioago. 11- 8œJ1 Ph... 173-775-5400 fa. 173-776-~ ,',',7,',',',',',',','"',',, ,',",",'.',','m,'"",',"',',',',',',',',',',',',',w,',w,',',',',',',',',',',w,',',','.w,~,=',',',',=,',w....,',','.w,w"'~"'~"""",:"""",~,:,:,:",',~m"C"',T"'" DLK ARCHIHCTURE 'AND SCAn PLANNIN. n:f==~ ~, '~U",,:= II .,. n.ll ~~! ~~~n~ !IIOIJ NotIooo IiVfw """"" ð47-JJ6-BIIOO - 1(» r"" 1147-3J!-1II!3G 1Mn... 1- 1!OO.'51 C:¡oo.; , '. ""'..."n...........,..._m""'m~mn....nm"'... ,......................."" ..""""""""""""""",..,.... ' ""~",""'C'~""-""""'-""""""""""'."n T!~ I m:v, 65'-6' . , u/S EAVE'S Et£V, 5/;"-1f . T ! 'Sf flom !!LV,I:1"'" MATERIAL LEGEND 1 - SHINGLE ROOF 2 - STUCCO 3 - STONE COPING 4 - BRICK 5 - CANOPY 6 - STORE FRONT GlAZING 7 - STONE NORTH ELEVATION . . W ~ ~ L..........- I SCALE: 1""'20' ~~ In f;;¡!¡åO 1- II " \'or- Ð ;:\::1; ~ I~ IIIIB:II ~~ I~ ~ ~ _BIll i '" Is.. :1: ~H ~ ~;~ ¡iiI ÞO..1 ~~~ ~h~ -,0 ! - r\ ~~~ '~f~ oooII <~~ ~~o£ ~~~O:'-10~ --4-u/S EAVES , ElEV, 55'-0'" ~ f- CD « CD ~ ..... ~ ...... 9C1)~ ~ ~ ::! c::::;j ~ 0 ~ fI.) G -" ..... w "" CD "- ~ E ~ ~ Wit ::¡¡ I- a Z 0 m:::> [5 ø ~ u :¡:O ~O ...- =*::~~ EI.EV, 46'-10'" ~ 1/151 FlOOR ELEV. 13'-6-' :3 n ...I ~t ~ J,J, æ 1::1:: U . CÐ h 11 ! å'í ! CÐ i ~ c; .~ Jø a.. ~Ii ~ Pit ....6 DATE ~ I 316 I [§J ::¡¡ n. ... '" Ö <:'! 0 8 S1 ~ t c; f en I j .. .. ~ I!! .. <:: .. G ~ ~ ~ c: 1 8 t ¡;; 'i I'! 0 ~ .. :g '5 W '8 ~ " ;Z ... 8 ~ ~ ž E MASTER PLANT LIST AND MATI.:RIAlS UST CODE I BOTANICAL NAME I COMMON NAME I arv I SIZE I I I I -- SHAl)E TREES COOIc CERCISOCCIDENrALOSWll<DYCffi" ""NDY CITY HACI<!!ERRY 1"5 3"CAlIPERB&B <ITIS I GlEDITSIA TRIACANTHQS IHERMIS 'SKYliNE' 1 SKnINe HONEYLOCUST 5 I"CAUPERIWI RPR9 I ROOINIA PSBJI)OACACIA 'BENJAMEN' BENJAMEN BlACK lOCUST 1 4 111' CAlIPER .... SHRUBS Hl'SU HYPERICUM FRONDOSUM 'SUNBURST SUNBURST ST. ./OHNSWœT . '" HT. B&B SBTO SFIRr,A BETUlIFOI.IA TOI< TOR B'RCtO.E!\F SPIREA .. "'" Hr,"" TAMT TAXUS MEDIA TAUIITONI IAUNTONYEW . 24',24"11&" VICe VIBURNUM CARlESII 'CAYUGA' CAYUGA KOREANSPICE _UM 2 ""8&B PERENNIALS AND ORNAMENTAl. GRASSES CAI\K CAIAMAGROSTIS ACVTIFlORA '1<ARl ~œ1<SÆR' KARL FOERSTER REED GRASS . 2 GAl POT ECRN ECRINACEA PIJRPIJREA 'KIM'S KNEE RIGIf DWARF I'URPlE CONEFLOWER 12 1 GAl POT NEW\. NEP"'A 'WAl1ŒR'S lOW OWARO HAMEU4 FOUNTAIN GRIISS ... 1 GAlI'UT PAHA !'ENNISEruM AlEPOCUIIOIOES 'fWAElN' <>WARD HAlAEU< FOlJll!TAIN GRASS 52 1 GAl POT 1'11'00 f<I)I)I3ECKIA FUlG",A 'OOlDSTIJRi8 BlJ\CK-eyEO SUSAN 99 'GAl POT GROUNDCO\IER EFCO I EIIONVMIJS FORTUNEI COlQRATUS PURPlElEAF WlNTERCREE'PEK 5«I12"1'Of1l."O.C, BUlI3S AI.GlAllIUMGlOO.......sTER """""""NTAl ONION ?? 1.Ul8:!~.~ _hm.Oh ""OR I NARClSUS 'FORTISSIMO" FOTISSIMO DNFOOIL ~1-1od BUlB -TOP SIZE MATERIAlS TREE ORA"'. NEENAH #8870 AND ""ro7 10 5'RDANDSO h.- mho.. STRUCruIW. SOIl CU. SOU'X 106 cum A1HENS W1N!XMOOX PlANTER, FlIlERGlASS COlORSEA STONE MIST :Q :!S'X'8"X'8" POMPEII URN PlANTER, - COlOR: SANDSTONE .. 14 ....... DtA, 21-:18" ~ SCAABORQUGH TRASH RECEPTAClE COlOR; BlACK . VIllAGE srANl1.llR' PETOSIŒY BENCH, 7', WITH OJACK COlOR: IllACK, POI. VSrrE SEAr ' IIIllAGE .,- PETQSKEY BENCH, 7', BACKLESS COLOR: BlACK, POL YSITE SEAT 4 SEGMENTAL CONCRETE RETAINING WAll PATTERN:?? COlOR 'I? ?? SOFT / ELMHURST ROAD MAIN "_O_"~---"'_._-- EXISTING BUILDING D D EXISTING 3 STORY RETAIL & CONDOMINIUM BUILDING D c t;- þ ~ ~ EXISTING 3 STORY RETAIL & CONDOMINIUM BUILDING B New Condo & Retail Building 52 Units - 5 Stories BACKED BENCH, CITY SID, 2 .. CONTAINERS (30. Dill.) 18 - VI1NDOW BOXES II EMERSON STREET CD ~~;~ll SITE PLAN STREET [J ;g 0 è3 C/) trJ tj 0:1 e F=12 - I'tINOOW BOXE' tj Z 0 7 - CONTIlINER' (30" Dill.) 18. Hr. PlIINTEMII SEAT WAll (801\ SIDES) TRA5Í-I RECEPTA' w :::> z w > « a THE PINNACLE AT VILLAGE CENTRE LLC E MOUNT PROSPECT, ILLINOIS DLK ARCHITECTURE l AND sell P E PLANNING n. "" .... """'.. .to ..... MI"',.. ...... e...." '"I"" ..... "',"',00" .."m""."" D c B .--.--- 1--. --------. ._~~u... .--- No. Date DoscIiption A Dele Proje¡;! In Charge Approwd by CI1edœd br-- Døsignød by Drawn by CJC lKV JJF OtW9,Q4 204007 I L-101 J iC! elK ArchileclUtB 2004 KITCHEN 12'-5" x 9'-4" II II I, LIVING I DINING 14'-3" x 17'-10" BEDROOM 11'-6" x 12'-6" BALCONY The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773- 775-5400 Chicago, Illinos 60631 Fox 773~ 775-4433 . I . 5th Floor Plan MASTER BEDROOM 12'-0" x 16'-0" 4th Floor Plan 2nd & 3rd Floor Plan New Condominium & Retail Building at Unit A 100 S. Emerson Street Mount Prospect, Illinois FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE ~- -.--- 1,191S.F. HA YLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 I BALCONY 'I [: ll1- . 0' 0 =":':""'~- ......... 5th Floor Plan DEN 11'--6" x 14'-7" LIVING I DINING 14'-3" x 17'-10" BEDROOM 12'-0" x 16'-0" The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773-775-5400 Chicago, Illinos 606.31 Fax 773-775-4433 llO 1100 I r--lffi -~I--+- ~ -_J- 4th Floor Plan ìl II I ~ KITCHEN 12'-5" x g'-4" ;¡ ,II !¡ ¡~ i ! 2nd & 3rd Floor Plan Unit A2 New Condominium & Retail Building at 100 S. Emerson Street 1,184 SF Mount Prospect, Illinois LFLOOR PLAN IS PRELIMINARY AND IS S~~~ECT T~~ANGE HA YLOCK DESIGN, INC. COPYRIGHT AUGUST go 2004 I- I I ¡ I I , , I I I I BEDROOM 15'-3" x 17'-10" 5th Floor Plan >- ~ ä§ LIVING I DINING 18'-6" x 14'-1" 4th Floor Plan ~. .. II Ii ¡: ! _nnn 2nd & 3rd Floor Plan The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773- 775-5400 Chicago, Illinos 60631 Fox 773-775-4433 New Condominium & Retail Building at Unit B 100 S. Emerson Street 949 S.F. Mount Prospect, Illinois FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 I KITCHEN II II II I: ~ ~ 10'- 7" x 10'-7" II II II II III liVING / DINING 16'- 7" x 14'-1" ~: ~-" BEDROOM 14'-1" x 12'-6" The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773-775-5400 Chicago, Illinos 60631 Fox 773-775-443.3 Unit C 851 S.F. - FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE 5th Floor Plan 4th Floor Pian i. :~ Ii i~ 1~ ¡~ r 2nd & 3rd Floor Plan New Condominium & Retail Building at 100 S. Emerson Street Mount Prospect, Illinois HA YLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 i"- I I I I KITCHEN 12'-5" x g'-4" ~ DINING I DEN 18'.-.6" x 10'-1" I BALCONY 5th Floor Plan LIVING 14'-7" x 17'-0" BEDROOM 12'--0" x 14'-7" 4th Floor Plan ¡ I: J 2nd & 3rd Floor Plan New Condominium & Retail Building at The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773-775-5400 Chicago, Illinos 60631 Fax 773-775-4433 Unit D 100 S. Emerson Street 1003 S.F. Mount Prospect, Illinois FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE HAYLOCK DESIGN, INC. COPYRIGHT AUGUST g, 2004 r~- I I I I I I I I í BEDROOM 14'-0" x 13'-0"" LIVING I DINING 11-0" x 14'-3" The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773-775-5400 Chicago, Illinos 60631 Fax 773-775-4433 FLOOR PLAN IS PRELIMINARY AND IS SUB.JECT TO CHANGE DEN 14'-3" x 17'-0" Unit E }- ~ co 1,082 S.F. 5th Floor Plan : þ, ,: ¡¡ I' :' If 4th Floor Plan :1: ::: ¡' i 2nd & 3rd Floor Plan New Condominium & Retail Building at 100 S. Emerson Street Mount Prospect, Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 i I I I I I ----_..J I =n____C DINING 9'-B" x 12'-6" .~~~]î[~~~~~~n~~~~ LIVING 14'-3" x 17'-0" BALCONY 0 <= I nnrnl I~II =t::=======~-=-=J II II II II KITCHEN 11'-6" x 19'-4" '-" MASTER BEDROOM 12'-0" x 15'-2" The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773- 775-5400 Chicago, lIIinas 60631 Fax 773-775-4433 5th Floor Plan I : 4th Floor Plan I ,¡ i 2nd & 3rd Floor Plan Unit F New Condominium & Retail Building at 1,493 S.F. 100 S. Emerson Street FLOOR PLAN IS PRELIMINARY AND is SUB,JECT TO CHANGE Mount Prospect, Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 r DINING 14'-0. x g'-I" -- - -- _uu u illu ,---- - ---, r-:~I : i: KITGHEN ~. 11'-4", 13,5" II LIVING 14'-0" x 12'-6" II II II " II II II )1 BALGONY The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773-775-5400 Chicago, Illinos 60631 Fax 773-775-4433 ~~~- FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE 5th Floor Plan '1 II !' i' I. i' ¡" ~ BEDROOM 12'-0" x 13'-7" 4th Floor Plan .: " :, Ii !" i! ,: 2nd & 3rd Floor Plan New Condominium & Retail Building at Unit G 100 S. Emerson Street 950 S.F. Mount Prospect, Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 1--- í í I ¡ I I I I BALCONY MASTER BEDROOM 12'-0" x 16'-0" LIVING I DINING 14'-3" x 17'-10" KITCHEN 12'--5" x g'-4" The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773-775-5400 Chicago, Illinos 60631 Fax 773-775-4433 FLOOR PLAN is PRELIMiNARY AND IS SUBJECT TO CHANGE BEDROOM 11'-0" x 11'-0" ~ F Unit H 1,158 S.F. 5th Floor Plan 4th Floor Plan ¡ I: I :, :; :: 2nd & 3rd Floor Plan New Condominium & Retail Building at 100 S. Emerson Street Mount Prospect, Illinois HA YLOCK DESIGN, iNC. COPYRIGHT AUGUST 9, 2004 I I I }- z 8 ~ ROOF 1ERRAGE DINING 5'-q" X 11'--5" I : LIVING ROOM 12'-9" x 17'-0" BEDROOM 14'-2" x 12'-2" The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773-775-5400 Chicago. I!linos 60631 Fox 773-775-4433 Unit J I F=~OR PLAN IS PRELIMIN.~~Y AND IS SUBJECT TO CHANGE 1:8 'I II HID II 898 S.F. 5th Floor Plan .~ i: !! ¡. ¡: ¡~ [, i 4th Floor Plan I II ! 2nd & 3rd Floor Plan New Condominium & Retail Building at 100 S. Emerson Street Mount Prospect. Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 MASTER BEDROOM 16'-0" x 12'-0" [81 KITCHEN ¡-Oil 12'-0" x g'- 7" II I L.---' LIVING 13'-0" x 16'-7" DINING 10'-g" x 10'--5" BEDROOM 12'-0" x 10'-2" BALCONY The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773-775-5400 Chicago, Illinos 60631 ~-ox 773- 775-4433 Unit K 1,268 S.F. FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE 5th Floor Plan !: ¡¡ ¡, ¡' I i! :~ !~ :: ¡¡ : 4th Floor Plan if II , ì 2nd & 3rd Floor Plan New Condominium & Retail Building at 100 S. Emerson Street Mount Prospect, Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 I~ BEDROOM MASTER BEDROOM I!'-I" x 11'-4" í 13'-3" x 13'-0" KITCHEN 13'-11" x g'-II" LIVING ROOM 16'-q" x 13'-3" ROOF TERRACE D --'--- . . II I The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773~ 775-5400 Chicago, Illinos 60631 Fox 773~ 775-4433 FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE ..lll il IiI 'II II; 1[1 ..._JI -.1J 5th Floor Plan . I . !i !: Ii ¡: 11 :! j: ':! '! 4th Floor Plan Ii i 11 ¡¡ ¡¡ 'I I ¡Ii Ji 2nd & 3rd Floor Plan New Condominium & Retail Building at Unit L 100 S. Emerson Street 1,O19S.F. Mount Prospect, Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 r I The Pinnacle at Village Centre LLC 7458 North Horlem Avenue Phone 773-775-5400 Chicago, Illinos 60631 Fax 773-775-4433 ~___L__.' FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE MASTER BEDROOM 12'-0" x 14'-7" BEDROOM II'-B" x 11'-0" LIVING I DINING 17'-g" x 15'-0" Unit M 1,144S.F. 5th Floor Plan ROOF TERRAŒ . I . 4th Floor Plan ': :: I i 2nd & 3rd Floor Plan New Condominium & Retail Building at 100 S. Emerson Street Mount Prospect, Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST g, 2004 ,---- BEDROOM 14'-0" x 12'-2" 11'-0" x 14'-4" ROOF TERRACE ìll ~-,_C:--------- The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Chicago, Illinos 6063i Phone 773-775-5400 Fax 773-775-4433 FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE DEN ~., I' -------' i 5th Floor Plan 4th Floor Plan 2nd & 3rd Floor Plan Unit N New Condominium & Retail Building at 1,044 S.F. 100 S. Emerson Street Mount Prospect, Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 I~ I I , I , ~ I 0 0 LIVING 14'-6" x 13'-5" II ~ KITCHEN : 11'-4' ,13"5' EJ] r , " I I I 'I I I ìl L.t-..J II II ROOF TERRACE m Main Level The Pinnacle at Village Centre LLC 7458 North Harlem Avenue Phone 773- 775-5400 Chicago, III in os 60631 Fax 77.3-775-4433 L FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE m MASTER BEDROOM 12'-0" x 14'-1" BEDROOM 10'-0" x 13'.-1" ...... 'm- iL If =-~ Upper level 5th Floor Plan . I . 4th Floor Plan i: :! II i: i~ I ! 2nd & 3rd Floor Plan Unit R New Condominium & Retail Building at 100 S. Emerson Street 1,268 S.F. HAYLOCK DESIGN, INC. Mount Prospect, Illinois COPYRIGHT AUGUST 9, 2004 I mu__IL--.---"" '_..L_JI DEN I DINING 13'-2" x 12'-0" ===.=-.- ---------~ I -¡I..D.o 10 0 1[8 'rT' KITCHEN I I, , , IIJ.,J 10-0' x 12-1 LIVING ROOM 14'-6" x 13'-8" ROOF TERRACE m m Main level The Pinnacle at Village Centre LLC " 7458 North Horlem Avenue Phone 773-775-5400 I Chicago, Illinos 60631 Fax 773-775-4433 1.- FLOOR PLAN IS PRELlM'NA"Y AND IS SUBJECT TO CHANGE MASTER BEDROOM 12'-0" x 16'--5" BALCONY Upper level 2nd & 3rd Floor Plan New Condominium & Retail Building at Unit S 100 S. Emerson Street 1,660 SF Mount Prospect, Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 ¡----"-"- I I I I I I BALCONY DINING LIVING L-_- 12'--0" x 8'-0" ROOF TERRACE 15'-4" x 13'-7" I 0 ~ . "". Main Level 4th Floor Plan The Pinnacle at Village Centre LLC UnitT 7458 North Harlem Avenue Phone 773-775-5400 Chicago, Illinos 60631 Fax 773--775--4433 1,543 S.F. FLOOR PLAN IS PRELIMINARY AND IS SUBJECT TO CHANGE _--_u_umuuu--- BALCONY BEDROOM 12'--0" x 10'-5" MASTER BEDROOM 13'- 7" x 13'-6" 5th Floor Plan New Condominium & Retail Building at 100 S. Emerson Street Mount Prospect, Illinois HAYLOCK DESIGN, INC. COPYRIGHT AUGUST 9, 2004 Village of Mount Prospect Mount Prospect, Illinois INTEROFFI CE MEMO RAND UM FROM: MICHAEL E. JANONIS, VILLAGE MANAGER DIRECTOR OF FINANCE ~\). ~I .'1 811"1 0' TO: DATE: AUGUST 11, 2004 SUBJECT: INSTALLMENT NOTE FINANCING FOR THE PURCHASE OF PROPERTY AT7S0UTHEMERSONSTREET PURPOSE: To present to the Village Board results from a request for proposal for installment note financing for the purchase of property at 7 S. Emerson Street. BACKGROUND: At the July 20, 2004 Board meeting, the Village Board authorized the execution of a real estate contract to acquire property located at 7 South Emerson Street The agreed upon sales price is $705,000. Currently there is not sufficient fund balance in the Downtown Redevelopment Fund to cover the expected cost for this property, so an alternate funding source needed to be identified. DISCUSSION: At the July 20, 2004 Board meeting, the Village Board authorized the securing of installment note financing for the purchase of the above reference property. On July 26, 2004, the Village sent out Request for Proposals (RFP) to five financial institutions requesting both variable and fixed rates on financing with a five-year payback schedule. The five financial institutions were Oak Brook Bank, Northern Trust Bank, Mount Prospect National Bank, Fifth Third Bank and MB Financial Bank. Responses were due back August 10,2004. Each of the five financial institutions responded back to our RFP. Oak Brook Bank quoted the most competitive fixed rate at 5.0%. Northern Trust Bank quoted the most competitive variable rate at 3.07%. The variable rate is based on the London Interbank Offering Rate (UBOR). A summary spreadsheet listing the rates submitted by the financial institutions is included as Attachment A. First year interest rate costs for the fixed and variable rates proposed were compared to see if there were significant savings opportunities by going with the lower variable rate. The first year interest cost using the lowest fixed rate was $35,250. The first year interest e InstalimentNote Financing Award August 11, 2004 Page 2 cost using the lowest variable rate was $21,644, a savings of $13,.606. At this level of savings, the variable rate would need to increase to 6.92% in the second year in order for the variable rate to become a more costly alternative. Although the initial payback period for this loan is five years, it is expected to be paid off sooner when redevelopment of the property commences. Redevelopment is expected in the next two years, which reduces the risk of seeing the variable interest rate increase to the point where it becomes the more costly alternative. RECOMMENDATION: I recommend the Village Board award the installment note financing bid to Northern Trust Bank at a variable rate of 3.07% Lau~/ & . <i~ ~ DAVID O. ERB DIRECTOR OF FINANCE DOE Attachment !:\RFP !nformation\lnstaliment Note FinancinglResults from RFP for Financing 7 S. Emerson.doc ORDINANCE NO. ORDINANCE AUTHORIZING AN AGREEMENT WITH NORTHERN TRUST BANK TO EXECUTE A TAXABLE NOTE IN THE AMOUNT OF $705,000 FOR FINANCING THE ACQUISITION OF PROPERTY LOCATED IN THE DOWNTOWN REDEVELOPMENT AREA TIF DISTRICT NO.1 WHEREAS, the Village of Mount Prospect (Village), located in Cook County, Illinois, is a home rule unit of government under the provisions of Article 7 of the 1970 Constitution of the State of Illinois, can exercise any power and perform any function pertaining to its government affairs, including but not limited to the power to tax and incur debt; and WHEREAS, the Village adopted Ordinance No. 5421 authorizing the acquisition of property located at 7 South Emerson Street, Mount Prospect, Illinois; and WHEREAS, funds for the purchase of the property will be obtained through installment note financing; and WHEREAS, the Village solicited "Requests for Proposal (RFP)" from five (5) financial institutions requesting quotations on a five (5) year installment arrangement for SEVEN HUNDRED AND FIVE THOUSAND dollars ($705,000) on either fixed or variable rates of interest; and WHEREAS, interest on such installment note will not be exempt from federal or state income taxes; and WHEREAS, the table attached to this Ordinance as Attachment "A" summarizes the proposals received; and WHEREAS, the proposal submitted by Northern Trust Bank of Chicago, Illinois with an initial variable rate of3.07% for five (5) years is the most economically feasible proposal; and WHEREAS, the Village President and Board of Trustees of the Village have determined it is necessary and in the public interest to finance the purchase of the above referenced real property totaling SEVEN HUNDRED AND FIVE THOUSAND dollars ($705,000) through an installment note financing agreement with the Bank. NOW, THEREFORE BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS AS FOLLOWS: SECTION 1: The Corporate Authorities do hereby incorporate the foregoing WHEREAS clauses into this Ordinance as though fully set forth therein thereby making the findings as hereinabove set forth. SECTION 2: It is hereby determined that it is advisable, necessary and in the interests of the public health, safety and welfare that the Village purchase the above real property described in the foregoing WHEREAS clauses and for the purpose of paying the purchase price thereof, to enter into an agreement for installment note financing in the amount of SEVEN HUNDRED AND FIVE THOUSAND dollars ($705,000) with the Northern Trust Bank of Chicago, Illinois at a variable interest rate of 3.07% amortized over a five (5) year tenn payable annually as specified in their written proposal. Said proposal is attached as Attachment liB" hereto and made a part of this Ordinanceo SECTION 3: Pursuant to Section 265 (b)(3) of the. Internal Revenue Code, the debt will be considered a "private activity bond" as defined in Section 141 of the code and the loan is not considered a "qualified tax exempt obligation" of the Village. SECTION 4: For the purpose of providing the funds required to pay the installments, when and as the same faU due and until the balance due has been paid in full, the Village of Mount Prospect shaH use incremental tax revenues of the Downtown Redevelopment Area TIF District No. 1 for such payments, or such other funds as they may deem necessary to procure and/or which are available. The indebtedness described herein is a general obligation backed by the full "faith and credit" of the ViHage. SECTION 5: The President, Village Treasurer and Village Clerk are hereby authorized to execute all documents necessary to effectuate said financing and any other appropriate documents. SECTION 6: That this Ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form as provided by law 0 AYES: NAYS: ABSENT: PASSED and APPROVED this day of ,2004. Gerald L. Farley, Village President ATTEST: Velma W. Lowe, Village Clerk Attachment" A" Village of Mount Prospect, Illinois Summary of Financing Proposals Purchase of Property at 7 South Emerson Street Amount to be Financed $705,000 Financing Period Five Years J Option One j j Option Two ¡ il. 0 0 0 0 u.. 0 0 - 0 00 - -........... -.. -. -........ 00.000. 0 - - - -...... -- - - - - - - -. -....... 0'_'" 0 0........ - - 0.0.. - -. _.000000..00000...0. -............. -. - -.. - - - - -.. - -. -. -. - - -. -. - - -.... -. -. -..................- I Institution OptiQrLOne Option Two Additional Provisions: Fixed Rate - Term of loan Variable Rate - Adjusted Annually at Payment Date Oak Brook Bank Northern Trust Bank Mount Prospect National Bank Fifth Third Bank MB Financial Bank 5.00% 5.09% 5.50% 5.95% 6.25% 4.25°/0 3.07% 3.25% no bid 4.25% Variable is 100% of Prime Variable rate based on USeR Rate Variable rate Prime less 1 % No bid for Option Two Variable is 100% of Prime SJlê1riance Between Fixed and Variable Rate Fixed Rate interest Variable Rate Interest Variance Oak Brook Bank Northern Trust Bank Mount Prospect National Bank Fifth Third Bank MB Financial Bank $35,250.00 $35,884.50 $38,775.00 $41,947.50 $44,062.50 $29,962.50 $21,643.50 $22,912.50 nla $29,962.50 $5,287.50 $14,241.00 $15,862.50 nla $14,100.00 Attachment "B" To: Village of Mount Prospect~ lllinois ProposaJ to Provide Taxable Installineøt Note FinBncing lor the lorelaa5e of R.eatProperty at 7 South Emenon Street, Mount Prospect, lDinois T errns: Amount to be Financed: Period to be Financed: Repayment Terms: $705.000 5 YeaTs Years 1 through 3: Interest Only Year 4: $350,000 Principal, plus Interest Year 5: $355,000 Principal, plus Interest Fixed Rate: Variable Rate: 5.09 N/A % % Based on % of Prime Rate. Interest rate to change at annual principal payment date. % Based on LIBOR Rate. Interest rate to change at annual principal payment date. LffiOR Rate: 3007 Note: Installment Dote can be prepaid in full at any time without penalty. Please include the proposed amortization schedule that corresponds to the quoted rate!s). Additionai Provisions/Comments: Final commitment..luY.biect to N~hem's norma¡ approval pTocedures which w.illÞe provj~scven ~e i:l.war~ acceptance ofthe bL The Northern Trust Company Finançiallnstitution Deborah Knox. Officer Authorized Official. Personnel ~~~ Signatul1.': of Authorized Official 8/10/04 Date $705,000 Village of Mount Prospect Cook County, Illinois Taxable Installment Note Financing, Series 204 OabtServfce Schedule Cite Principal Couoon Interest TOIaI FI+! FIScal To. 0910112004 0910112005 0310112006 0910112006 0310112001 09l'01i2OO7 0310112003 0910112008 Total 350,000.00 5.090% 35,*.50 11,942.~ 17.942.,25 11,842.25 17,942.2ð 9.0'u.75 9.034.75 1120.723.00 35,8&4.50 17.942.25 17,1142.25 17,942.215 357.942.25 8,034.75 364,034.75 5830,723.00 35.884.50 35,884.50 385,884.50 355.000.00 1105,000.00 5.1)GO% 373,059.50 Yield Stdstica Band Year Dallars...............................................................................""""""""""""'..00<""""'0.......00"""""""".00.......00...""", $2,410.00 Average IJ1e....m.....oo................o.....................ooo.................."'00""""""""""""""""""0""""""""""""'0"""""""'"................. 3.504 Years Average Coupon"""""""""""""""""..............oo................................"""""""""""""""""""""'0""""0"""""""""'""""000"" ~UJ900000% Net In~1 Cost (NICI...........oo.....................oo..................................""""""""'.....0""""..0""""""""""""""""""................... 5.0900000% True Int8l'8$t Cost (TfC}................................................................................."""""""""""""""""""""'......................'00......... 5.0706285% Bond V181d for Arbitrage PUI'pO$C!S""""u""""........oo..................................................,........,...................................................... 5.0706285% All Inclusive COlit IAIC)..................................................ou...........o.................'000"""""""""""'00000""""""""""""""0""0"'0""'" 5.0706285% IRS Form 8038 Nellnterest Ccat..""""""""oo""""""".........o...............,....o........,oo................m""""""""""""OO"""""""".."oo..m.u.................. 500900000% Welgnted Aveliilge lIIIaturity.....................................................u.....................OO""""""""""""""'OO""""'O"""'.........oo,..m...oo..... 3.504 Vears SeNu20D4 I $/NGLEP/JRPO$I!! I 411~ I la.WAhI The Northern Trust Company Public Finance Psge 1 $105,000 Village ofMounf.Prospect CookCoun1:y. Illinois Taxable .lnstaJlment Note Financing. Serles 204 DebtServfceSchedule D¡¡~ 0910112004 0910112005 0310112005 OSlO 1 i2OO6 0310112001 1.1910112007 0310 112008 0910112008 Prtndoal CoUOOfI Interest Total p.¡.¡ Fiscal io~ 350,000.00 3.070% 21.643.00 10,821.75 10,&21.15 10,821.75 10.821.15 !,449.25 5,448.25 115,829.00 21,643.50 10.821.15 10,821.15 1 0.a2U5 360,821.75 5.449.25 360,449.25 $780,82901:JO 21.643.50 21,64:UO 371,543.50 Tolai 355,000.00 5705,000.00 3.010% 3SS,flSS.50 Y1eld Statistics Bond Year CoIIars""""""""""'.........ooo....................,................................."""""""""""""""""""""""""0""""""""""""'00" $2,470.00 Avwra¡;e UIe....................................,.......................................ooo....""""""""""""""""'000'0"""""""""0"""'000""""""""""..... 3.504 YGar¡ A\lØnIIg8 Couøoo...........oo"...........................oo......................,......"""""0""""'000"""'00""""""""'000""""""""""""""................ 3.0700000% Net Interest Cost (NIC}........oo...........oo...oo.......................................................m...........o..................,..<o..,.......................o.........oo 3.0100000% 'fruelnletOsr Cost (TIC'""""""""""""""oo"""""""""""""",oo""""""""""""""""""""""""""""""""'00""""'000""""""""" 3.0030185% Bond Yield forMing. PYtpOSM.............................................................,............,................................................................... :tOS3O185% AlJlnclus!w Colt [AlC)o....ooo..........m.........o........................,...............,............"'000""""""'00""'0"""""""""""""""""'000""""" 3.0630785% IRS Form 1031 N.I Interest Cost........om................................o............oo................o............"""""""""""""""""""""""""""""".00............""" 3.0700000% WeighledAvenage Mawmy....................................,..................................................."""""'00"""""""""""""""""""""""""" 3.504 Yea~ ~$ ~~ VIIIIMIco""'18 $/NGU! PIJRPOSI! I "1~)f ¡ 10,11 AM The Northern Trust Company Public Finance Page 1 MEMORANDUM Village of Mount Prospect Community Development Department FROM: MICHAEL E. JANONIS, VILLAGE MANAGER DIRECTOR OF COMMUNITY DEVELOPMENT "'Bb. ~l 6111 0'1' TO: DATE: AUGUST 12,2004 SUBJECT: ORDINANCE AUTHORIZING THE SALE OF RIGHT OF WAY Attached to this memorandum is a copy of an ordinance that would authorize the sale of certain Village property to Paul Viken. The property in question is the unimproved Kenilworth Avenue right-of-way located between Lincoln Street and the Mount Prospect Golf Course. The Village Board previously approved the Viken Resubdivision at their July 6, 2004 meeting that included the Plat of Vacation for this property. The attached ordinance and sales contract would finalize this transaction. Please forward this memorandum and attachment to the Village Board for their review and consideration at their August 17th meeting. StaffwiH be present at that meeting to answer any questions related to this matter. H:\ADMN\B!LLIMEMOSIMEJ\2003\KENSINGTON ROW SALE.DOC g- vwl vwl 8/12104 wjc 8/13/04 ORDINANCE NO. AN ORDINANCE AUTHORIZING THE SALE OF PROPERTY OWNED BY THE VILLAGE OF MOUNT PROSPECT (KENILWORTH RIGHT-OF-WAY) WHEREAS, on July 6, 2004, with the passage of Ordinance No, 5442, the Corporate Authorities of the Viltage of Mount Prospect determined that the best interests of the Village of Mount Prospect would be served by vacating that portion of right-at-way, as shown on Exhibit "Ail attached hereto and made a part of this Ordinance, generally located south of Lincoln Street and north of the Mount Prospect Golf Course, in Mount Prospect, Illinois. NOW, THEREFORE, BE IT ORDAINED, BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILliNOIS: SECTION ONE: That the Corporate Authorities of the Village of Mount Prospect have determined that the best interests of the Village would be served by the vacation and sale of the public right-of-way shown on Exhibit "An SECTION TWO: That upon passage and approval of this Ordinance by appropriate vote of the Corporate Authorities, and upon the tender by the adjacent property owners of $285,000, the Village Clerk is hereby authorized and directed to file a certified copy of this Ordinance, together with a copy of the Plat of Vacation indicating the parcel being the subject of this Ordinance, with the Cook County Recorder of Deeds. SECTION THREE: That this Ordinance shall be in full force and effect from and after its passage, approval and publication in pamphlet form in the manner provided by law. AYES: NAYS: ABSENT: PASSED AND APPROVED this day of ,2004. Gerald L. Farley President ATTEST: Velma W. Lowe Village Clerk H\CLKOlfliesIWINIORDINANCISale of property-Kenllworlh ROW,Viksn,Sept,2004.doc