Land Use & Economic Development Committee

City of Joliet 150 West Jefferson Street Joliet, IL 60432 Meeting Minutes - Final Thursday, August 29, 2024 9:00 AM City Hall, Conference Room 1 Land Use & Economic Development Committee Committee Members Councilman Cesar Cardenas, Chairperson Councilman Cesar Guerrero Councilman Pat Mudron Land Use & Economic Development Committee Meeting Minutes - Final August 29, 2024 Page 1 of 1 Land Use & Economic Development Committee Meeting Minutes - Final August 29, 2024 Citizens who are unable to attend the meeting can email comments in advance of the meeting to publiccomment@joliet.gov. ROLL CALL Present Councilman Cesar Cardenas and Councilman Pat Mudron Absent Councilman Cesar Guerrero ALSO PRESENT: City Clerk Lauren O’Hara, Community Development Director Dustin Anderson, Planning Director James Torri, Economic Development Director Paulina Martínez, and Assistant Corporation Counsel Stephanie Silkey APPROVAL OF MINUTES Land Use & Economic Development Committee Meeting TMP-7670 Minutes - 7/24/24 Attachments: Land Use & Economic Development Committee Minutes 07-24-24.pdf A motion was made by Councilman Pat Mudron, seconded by Councilman Cesar Cardenas, to approve Land Use & Economic Development Committee Meeting Minutes - 7/24/24. The motion carried by the following vote: Aye: Councilman Cardenas and Councilman Mudron Absent: Councilman Guerrero CITIZENS TO BE HEARD ON AGENDA ITEMS None AGENDA ITEMS Resolution to Authorize a TIF Development Agreement with TMP-7675 311 Ottawa Building LLC for the Renovation of 311 N. Ottawa Street Attachments: Resolution.pdf Agreement for 311 Ottawa LLC.pdf Contractor Statement for 311 Ottawa.pdf Planning Director James Torri read the agenda item title and introduced Economic Development Director Paulina Martínez. Ms. Martínez provided a brief overview of the Resolution to Authorize a TIF Development Agreement with 311 Ottawa Building LLC for the Renovation of 311 N. Ottawa Street. In response to Councilman Mudron’s question, Ms. Martínez and Community Development Director Dustin Anderson explained why the original agreement was modified to the new proposed agreement and clarified 311 N. Ottawa Street was in the Downtown Redevelopment Project Area TIF District. Page 1 of 3 Land Use & Economic Development Committee Meeting Minutes - Final August 29, 2024 At the request of Councilman Mudron, John Bays described his interest in creating a successful downtown, his request for a TIF agreement, the renovations at 311 N. Ottawa Street, and his overall background as a developer. Mr. Anderson provided a financial contrast of the original agreement and the new proposed agreement. In response to Councilman Mudron’s question, Mr. Anderson explained the length of the new proposed agreement would be 14 years and the life of the TIF was 17 years. Mr. Bays briefly discussed parking for 311 N. Ottawa Street. In response to Councilman Mudron’s questions, Mr. Bays and Jason Hager discussed unit size, unit furnishings, whether the units would be rental or owned, possible First Floor developments, unforeseen building issues, overall cost of the development, and permitting. At the request of Bruce Konzelman, a brief discussion was held about agreement redrafting and TIF agreement terms. Councilman Cardenas thanked Mr. Bays for investing in Joliet and highlighted increased property values in downtown Joliet. Mr. Bays expressed his appreciation for the City Council’s support and highlighted his laborers. Mr. Bays briefly mentioned how he came to Joliet in 1967. In response, Councilman Cardenas thanked Mr. Bays for his investment in Joliet. A motion was made by Councilman Pat Mudron, seconded by Councilman Cesar Cardenas, to approve Resolution to Authorize a TIF Development Agreement with 311 Ottawa Building LLC for the Renovation of 311 N. Ottawa Street. The motion carried by the following vote: Aye: Councilman Cardenas and Councilman Mudron Absent: Councilman Guerrero NEW OR OLD BUSINESS - NOT FOR FINAL ACTION OR RECOMMENDATION None PUBLIC COMMENT None ADJOURNMENT Page 2 of 3 Land Use & Economic Development Committee Meeting Minutes - Final August 29, 2024 A motion was made by Councilman Pat Mudron, seconded by Councilman Cesar Cardenas, to approve adjournment. The motion carried by the following vote: Aye: Councilman Cardenas and Councilman Mudron Absent: Councilman Guerrero This meeting will be held in an accessible location. If you need a reasonable accommodation, please contact The City Clerk Office, 150 West Jefferson Street, Joliet, Illinois 60432 at (815) 724-3780. Page 3 of 3