HomeMy WebLinkAbout04/14/1993 EDC MinutesMINUTES
ECONOMIC DEVELOPMENT COMMISSION
Wednesday, April 14,1993
6:30 P.M.
The second meeting of the advisory Economic Development
Commission for the Village of Mount Prospect was held at the
Village Hall, 100 South Emerson Street, Trustees Room.
CALL TO ORDER:
The meeting was called to order at 6:30 P.M. by Chairman
James E.Ebbinghaus Commissioners present were: John
Riordan, Bennett Tripani,Ed Sroczynski,Patrick
O'Donnell,Karen Johnson,Dale Jesse and Chairman James E.
Ebbinghaus. All members were present and a quorum was
declared. Also present was Kenneth Fritz, Economic
Development Coordinator and Richard Hendricks, resident.
MINUTES APPROVAL
Secretary Ed Sroczynski read the minutes from the First
Meeting on March 4, 1993 and a motion was made,seconded and
the members unanimously approved the minutes.
NEW BUSINESS
A. James E. Ebbinghaus opened the meeting with a suggestion
that future meetings feature an 'educational' report to the
members.
Jim also indicated that our featured speaker; William Frain,
Frain, Camins & Swartchild, Brokers, for tonight's meeting
was not able to ,loin us to make his educational report but
would be rescheduled for a future date.
B. Commercial Property Report
Ken Fritz passed out information about a commercial property
report from F, C & S as well as information from Ken about
school District tax rates in our area. A general discussion
followed about why our taxes were higher than an Elk Grove
District due to a lower industrial property tax base in
Mount Prospect.
Jim Ebbinghaus asked if we needed to add anything to
tonight's agenda, there being nothing to add the meeting
went on to:
C. Action Plan
Karen Johnson presented a task force report on an Action
Plan for the Economic Development for this commission.
Conclusions:
We need a place from which to start; a mission
We need to develop along term economic development
strategy.
Step 1. Develop ' Analysis' of Mount Prospect
A Community Profile
Step 2. Determine the most appropriate program mix
Step 3. Develop a Strategic Plan
Step 4. Develop a Marketing Plan
Continue Business Visitation Program
Jim Ebbinghaus presented a draft of an extensive Business
Survey Form and asked for a discussion about the format,
content,etc. The form appears to ask all the questions the
Commission needs to ask local businesses. The Economic
Development Commission agreed to try a few tests by having
each Commissioner complete and return one to Jim Ebbinghaus.
Dale Jesse shared with us comments from the most recent
Kensington Owners Association meeting and the consensus
seemed to be that they were no longer as concerned with tax
rates as much this year as last.
D. Busine Visitatio
Jim Ebbinghaus would envision tying in this survey with the
current, important Business Visitation Program and suggested
selecting about Forty target companies. Each Commissioner
would participate in one or two per month,The team
consisting of a Commissioner, A Village trustee,.Mayor, a
Village Rep, Chamber Rep., up to a maximum of seven.
John Riordan, Ben Tripani, Patrick O'Donnell,& Ken Fritz
will set up the visitation schedule.
Karen Johnson do Dale Jesse will set up long range planning.
Ed Sroczynski, Karen Johnson do Ken Fritz will develop
demographic profile.
E
E. Case Study- Economic Dev. Task Force - Westminster. Co
Ken Fritz then presented information about Westminster,
Colorado's EDC program. He stated more information would be
sent to us shortly.
F. Chicago Economic Development Comments
Karen J. recently attended a meeting with Chicago's new
EDC Director and shared these comments:
.They have a planned
.They will develop a
.They will develop a
Dollar Budget to go
.They will set a Bus
government red tape
'Breakfast with the Mayor'
Venture Capital Fund
Marketing Plan and Advertising
with it.
iness Express Hotline to out
and speed up the process.
Next meeting was scheduled for Wednesday, May 19, 1993 at
8:15 A. M., location to be determined as soon as possible.
ADJOURNMENT
Meeting adjourned at 8:20 P. M.
Respectfully submitted
Ed Sroczynski, EDC Secretary