HomeMy WebLinkAbout05/27/1993 EDC MinutesMINUTES
ECONOMIC DEVELOPMENT COMMISSION
Wednesday, May 27, 1993
7:30 A. M.
The third meeting of the advisory Economic Development
Commission for the Village of Mount Prospect was held on
Wednesday, May 27, 1993 at the offices of the Rouse- .
Randhurst Corporation,999 Elmhurst Road, Mount Prospect,
Illinois.
I. CALL TO ORDER:
The meeting was called to order at 7:30 A.K. by Chairman
James Ebbinghaus. Commissioners present were: John
Riordan,Bennett Tripani, Ed Sroczynski,Patrick
O'Donnell,Karen Johnson,Dale Jesse., and James Ebbinghaus.
All members were present and a quorum was declared. Also
present: Mayor Gerald "Skip" Farley, Kenneth Fritz,Economic
Development Coordinator and William Frain & Doug Shehan,
Frain Cammins & Swartchild.
II. ROLL -CALL /WELCOME AND INTRODUCTION
Chairman James Ebbinghaus welcomed everyone, asked for
introductions around the table and welcomed our guests who
will make a presentation today. He thanked Karen Johnson for
hosting this morning's meeting.
III. APPROVAL OF MINUTES
The minutes which had been previously mailed to the members
were moved for approval by Ben Tripani and seconded by Dale
Jesse. All members voted to approve last month's meeting
minutes.
IV. NEW BUS I NESS
Chairman James Ebbinghaus gave his report of a meeting
with Mayor Farley and Kenneth Fritz; primarily they
discussed the importance of continuing the Monthly
Visitation Program started last year by Janet Hansen and Ken
Fritz. Mayor Farley added his comment that he was anxious to
see the program continue as soon as possible.
Economic Development Commission Minutes
May 27, 1993
Page Two
Kenneth Fritz briefed us on the activities involving
the office building at 1699 Wall Street, Mount Prospect.
Lake Center Plaza at that address is about 65% vacant and
not economically viable at this time.
The building owners are seeking to convert the building into
luxury condo apartments. The existing office tenants leases
would be honored and the First and Seventh floors would
remain leased to office tenants; floors Two through Six
would be converted to condo's. Mayor Farley has already
written to all tenants and indicated the Village was
interested in retaining the businesses in town and to
address the concerns of the National Sporting Goods
Association a twelve year lessee in that building.
There was also a discussion about the Winona School of
Photography and their intent to possibly relocate to
Atlanta, Ga.. Mayor Farley, Ken Fritz and James Ebbinghaus
will arrange a meeting with them to encourage them to remain
in town.
James Ebbiughaus also reported on a meeting with the Mount
Prospect Chamber and Janet Hansen. One of the ideas to come
out of that meeting was to have a Business Recognition Day
in February 1994. He also asked Ken Fritz for a list of
businesses in town and to start up a Task Force concept in
the village to address business needs, business development
inquiries, etc.
A. Commercial Property Report - Mount Prospect and
Northwest Cook County- William Frain /Doug Shehan
Frain Cammins & Swartchild manage thirteen buildings
in the Kensington park- 700,000 square feet.
They reported on recent activity in the park:
Salton Housewares(35,000) is looking at Lake County;
Currently paying $3.00 sq. ft. vs. $1.25 in Buffalo
Grove(Lake County)
Building permits are taking 3 -4 weeks for simple
office move ins with little build out.
Need for the Village to streamline or fast track
this permit process, to avoid late move ins.
There has been considerable positive lease activity
in the past 90 days in Kensington, how ever
170,00 sq. ft. remain vacant at this time...
and most of these current leases are at Bargain
rates to tenants.
Economic Development Commission Minutes Page Three
May 27, 1993
In Mount Prospect, 720,000 sq. ft. remain vacant,.
39 % in multi story buildings in town.
The Frain report continued for about Forty Five
minutes covering detail about the Northwest Cook
Cook County area and discussions about Lake County
Taxes.
James Ebbinghaus asked our guests to comment on:
What issues are unique to Nount Prospect that cause
F C & S problems? ( Mainly permit delays)
Mayor Farley said he would look into the permit
process
Other items discussed were need for a closer tollway
exit, Good Hotel /Restaurant, maybe a Day Care Center
in Kensington
B. Action Plan -Karen Johnson
C. Business Visitation - James Ebbinghaus
D. Case Study- Economic Development Task Force
Westminster, Colorado -Ken Fritz
Were postpones to next meeting, Westminster info
packet was passed out,as was a list of major
employers in town.
Items to be done by next meeting:
Conclude Survey of business in town
Ask Village Manager & Permit Chief to attend our
next meeting
Set up Business visitations, AX International?
Attend Kensington Business Council Lunch
meeting, Ed S or Dale Jesse to represent
and brief them on the EDC activities, 6/15/93
V. ADJOURNMENT
Next meeting was scheduled for June 17, 1993 8:00 A. M.
Tripani Construction Co. 1800 E. Northwest Hwy.
Arlington Heights, Illinois.
The meeting was adjourned at 9:05 A. M.
Respectfully submitted,
Ed Sroczynski