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HomeMy WebLinkAbout03/02/1994 EDC MinutesMINUTES ECONOMIC DEVELOPMENT COMMISSION Trustees Room, Village Hall Wednesday, March 2, 1994 6:00 P.M. CALL TO ORDER The meeting was called to order at 6:05 p.m. by Chairman James Ebbinghaus. Members present were: Ben Trapani, Dale Jessie, Patrick O 'Donnell and Chairman James Ebbinghaus. Members absent were: Karen Johnson and John Riordan. Also present were: William Cooney, Director of Planning; Mayor Skip Farley and Kenneth Fritz, Economic Development Coordinator. APPROVAL OF MINUTES Minutes of the February 2nd meeting were presented for consideration. A motion was made by Pat O 'Donnell, seconded by Ben Trapani, that the minutes be approved as read. The motion to pass was approved unanimously 4 -0. OLD BUSINESS Chairman Ebbinghaus asked Mr. Fritz to give an update on the small business survey. Mr. Fritz indicated that the surveys were sent out and the cut -off for receiving replies to the survey was to be extended until the end of the day, March 11th. Development Incentives Mr. Ebbinghaus distributed a draft of his version of the development incentives that could be considered by the Commission for transmittal to the Village Board for their future action or consideration relative to economic development incentives. Mr. Ebbinghaus proposed that four general categories be established for possible consideration under an incentive program. They are as follows: Municipal Services Capital Improvements Land Management Financial The draft paper which is proposed as a working document is intended to solicit the input of the Economic Development Commission and form the basis for development of a Village policy for economic development. The working draft elaborated on the four general categories. The main features of municipal services were: One stop permit processing, Economic Development Commission Minutes Page 2 Use of an Ombudsman, Hosting tours for businesses interested in relocation, Government Programs assisting businesses that are known to exist locally and at County, State and Federal levels. The next category of Capital Improvements identified the specific areas of parking, streets and improved site infrastructure. The third category of Land Management identified three areas being site assembly and site preparation, land condemnation and annexation, and business relocation. The fourth category of Financial identified several areas including fee abatement, local property tax abatement credit, in -kind services, cash contributions, industrial revenue bonds, sales tax credits. In addition, the draft included a matrix that suggested how these various types of assistance would apply to the large retailer, medium/small retailer, large industrial/commercial development, and small industrial/commercial development. The working draft was well received by the members of the Commission, staff and the Mayor. It was seen as a very good beginning point from which further discussions can be scheduled with the Village Board. Some refinements will be made to the draft by staff and Economic Development Commission members prior to further study with the Village Board. A second memo drafted by Mr. Ebbinghaus dealt with the operations of the Economic Development Commission and their workings with staff and the Village Board and suggested several ways where coordination and participation could be improved. For example, Mr. Ebbinghaus indicated that the Economic Development Commission could serve as host or co -host for companies visiting Mount Prospect. They could be introduced by the Commission to local business leaders. The Commission, with staff assistance, could further prepare and present briefings on local business conditions, trade area demographics, etc. A meeting with the Village Board at an informal setting was discussed and it was decided that the Coffee -With- Council meeting of April 9 would be set for a discussion with the Village Board and the Commission at 9:00 a.m. preceding the 10:00 a.m. regular public comments agenda. NEW BUSINESS Planning Department Economic Development Function (1994 -1995 Budget) Mr. Cooney distributed a brief document of the proposed budget for economic development activities in the Planning Department for the 1994 -1995 budget year. He indicated that the total cost Economic Development Commission Minutes Page 3 represented parts of the Planning Department budget that were already developed in the draft budget document being reviewed by the Village Board. This budget indicated allocations for personnel administration, supplies and a $25,000 program area for economic development expenditures, including such items as brochure development, portable display improvements, seminars and conferences dealing with economic development locally and regionally including monies for marketing to include activities of hosting interested businesses seeking possible location into the community. Regular Meeting Schedule It was determined that the Economic Development Commission monthly meeting should be set for the first Wednesday of each month at 6:00 p.m. at the Village Hall in the Trustees Room. This would allow the maximum participation of the Economic Development Commission members and permit the Mayor to attend on a regular basis. It was also discussed that the sub - committee meeting scheduled as needed could take place early in the morning at the Village Hall or other sites of the offices of the members of the Economic Development Commission. Marketing and Public Relations Mr. Fritz indicated that he had passed information on to Dale Jessie with regard to various formats for a proposed economic brochure. Mr. Jessie was going to review those and come back with some proposals in draft form in the next few weeks for consideration. The was also discussion of development of a slide production showing the benefits of Mount Prospect to prospective businesses and residents. Rough costs were identified and will be refined for the next regular meeting of the Economic Development Commission scheduled for April. ADJOURNMENT The meeting was adjourned on a motion by Dale Jessie, seconded by Pat O'Donnell, at 8:10 p.m.