Economic & Community Development Committee

Village Hall Village of Lombard 255 East Wilson Ave. Lombard, IL 60148 villageoflombard.org Minutes Economic & Community Development Committee Bill Johnston, Chairperson Reid Foltyniewicz, Alternate Chairperson Dennis McNicholas, Garrick Nielsen, Matthew Pike, Brian LaVaque, Markus Pitchford, Christopher Carter and Andrea Harnden Staff Liaison: William Heniff Monday, July 13, 2015 7:00 PM Village Hall - Community Room 1.0 Call to Order and Pledge of Allegiance The meeting was called to order by Trustee Johnston at 7:00 p.m. The Pledge of Allegiance was recited. 2.0 Roll Call Present 7 - Trustee Bill Johnston, Dennis McNicholas, Brian LaVaque, Garrick Nielsen, Markus Pitchford, Matthew Pike, and Andrea Harnden Absent 1 - Christopher Carter Also present: William Heniff, Director of Community Development; Jennifer Ganser, Assistant Director of Community Development; Sarah Richardt, Executive Director of Lombard Town Centre. 3.0 Public Participation There was no public participation. 4.0 Approval of Minutes A motion was made by Mr. Pike, seconded by Ms. Harnden, to approve the minutes from the June 8, 2015 meeting. The motion carried by the following vote: Aye: 6- Dennis McNicholas, Brian LaVaque, Garrick Nielsen, Markus Pitchford, Matthew Pike, and Andrea Harnden Absent: 1- Christopher Carter Village of Lombard Page 1 Economic & Community Minutes July 13, 2015 Development Committee 5.0 Unfinished Business There was no unfinished business. 6.0 New Business 150317 TIF (Tax Increment Financing) Primer Discussion of tax increment financing. Mr. Heniff gave a presentation of TIF. He noted this was done at the ECDC meeting a few years ago and that’s it’s a good idea to review this information again. He mentioned the Illinois Tax Increment Association as a good resource. Mr. Heniff discussed what a TIF District is, how it works, and the three TIFs in Lombard. He said TIF money can be used on items that the State legislation has authorized through the TIF Act. He noted that TIFs are another funding source the Village can utilize, especially for Public Works projects that otherwise would come from the General Fund. He reviewed the three Lombard TIF Districts and said that in the Downtown TIF; approximately 90% of the tax increment goes back to the taxing districts per an Intergovernmental Agreement. Mr. McNicholas asked what happens to the TIF money when the TIF ends. Mr. Heniff said any money left at the end is deemed surplus and given back to the taxing districts. Many municipalities look for outstanding obligations so there is not money left in the TIF. Trustee Johnston briefly discussed the DuPage theatre site. Mr. Heniff said that currently the site brings in zero dollars to the TIF, but through an Intergovernmental Agreement if the site generates increment, 100% of the money will go to the Village. 150318 Downtown Improvement & Renovation Grant Program Discuss a policy issue regarding the replacement of materials already paid for by TIF grant dollars. Mr. Heniff reviewed the Downtown Improvement & Renovation Grant Program. He said staff is seeking a policy direction regarding applicants that have received money from the grant in the past and now seeking another grant to replace the item. Historically the grant program has not covered maintenance. The grant program does not limit an applicant on the number of times they can apply for grants. Mr. McNicholas said perhaps a cap or a lower percentage grant should be utilized for repeat grant applicants. He also noted the IRS has an amortization schedule. Mr. Pitchford said he agrees with Dennis and noted the TIF does have an end date where they will not Village of Lombard Page 2 Economic & Community Minutes July 13, 2015 Development Committee be any more TIF funds. Mr. McNicholas noted that the words repair and maintenance are subjective. Mr. Nielsen said he would ask if the request met the spirit of the grant since this is a tool to revitalize an area. He agreed with Dennis’ suggestions. Mr. Pike asked what the average life span of an awning is and Mr. Heniff said approximately 5-10 years depending on the material. Mr. McNicholas said the IRS gives an awning five years. Mr. LaVaque said this is a challenging issue and noted that awnings do improve the downtown. Ms. Richardt said she would share this with the Lombard Town Centre Board and report the findings to the ECDC in August. Trustee Johnston said he agrees that a new business should be able to apply for a grant, even if the former business received a grant but that one grant application per item per applicant may be sufficient. Mr. McNicholas said parameters may be needed on the number of years an item is non-eligible for or offer a lower percentage grant which would still help the applicant on costs. Mr. Heniff said that when Red Caffeine change names staff noted they would not support an awning grant request because the former awning was recently done with TIF grant money. This item will be discussed as future ECDC meetings and terms and parameters may be needed for the future. 7.0 Other Business Trustee Johnston reviewed the ECDC Overview Memo with the members. 8.0 Information Only Lombard Town Centre Report Ms. Richardt summarized her report to the ECDC. LTC moved their offices to 101 W St. Charles Rd on July 1st. The third floor yoga studio has opened, as well as a yoga studio at 11 N Main Street. Ms. Richardt noted that memberships from this time last year have been matched. Development Project Update Staff provided an update on recent development activity. Mr. Heniff said Sam’s may file for a fall Plan Commission date for their zoning entitlements and the ECDC will review a companion incentive agreement. 9.0 Adjournment Village of Lombard Page 3 Economic & Community Minutes July 13, 2015 Development Committee A motion was made by Mr. McNicholas, seconded by Mr. Pike to adjourn the meeting at 8:10 p.m. The motion carried by the following vote: Aye: 6- Dennis McNicholas, Brian LaVaque, Garrick Nielsen, Markus Pitchford, Matthew Pike, and Andrea Harnden Absent: 1- Christopher Carter Village of Lombard Page 4