Economic & Community Development Committee

Village of Lombard Village Hall 255 East Wilson Ave. Lombard, IL 60148 villageoflombard.org Minutes Thursday, March 11, 2021 7:00 PM SPECIAL MEETING Village Hall Economic & Community Development Committee Anthony Puccio, Chairperson Reid Foltyniewicz, Alternate Chairperson Dennis McNicholas, Garrick Nielsen, Matthew Pike, Paula Dillon, Laine Vant Hoff, Gregory Ladle, Alan Bennett and Patrick Kennedy Staff Liaison: William Heniff Economic & Community Minutes March 11, 2021 Development Committee NOTICE OF MEETING MODIFICATION DUE TO COVID-19 In light of the Disaster Declaration issued by the Governor of the State of Illinois relative to the COVID-19 pandemic, the Village President has determined that an in-person meeting of the Economic and Community Development Committee, or a meeting conducted under the Open Meetings Act requirements, relative to a quorum of the members of the Economic and Community Development Committee having to be physically present at a meeting when some members of the Economic and Community Development Committee are participating remotely, is not practical or prudent because of the disaster. Pursuant to Governor Pritzker's Executive Order No. 2020-07, as extended and modified by Executive Orders 2020-18, 2020-33, 2020-039, 2020-44, 2020-52, 2020-55, 2020-59, 2020-71, 2020-74, 2021-01 and 2021-04 which suspend the requirement of the Illinois Open Meetings Act requiring in-person attendance by members of a public body during the duration of the Gubernatorial Disaster Proclamation, members of the Economic and Community Development Committee may be participating in the meeting through a virtual meeting platform. Physical attendance at this public meeting will be capped to a maximum capacity of 50 persons in total, inclusive of Village officials, staff and consultants (whose physical attendance will be given precedence), with strict social distancing requirements in place. While the public is welcome to attend the meeting, and provide comments, in person, given capacity limitations and the COVID-19 pandemic, residents are invited to view and participate remotely through the means offered below. All interested persons will be given the opportunity to participate in the public hearing via telephone or submission of public comments or evidence in advance of the meeting: • email to communitydevelopment@villageoflombard.org • calling and leaving a voicemail at 630-620-5760 • letter mail to: Community Development Department Attn: Economic and Community Development Committee Village of Lombard 255 E. Wilson Avenue Lombard IL 60148 Persons interested in participating in the hearing via telephone shall contact the Village in advance by any of the above methods to obtain information necessary Village of Lombard Page 1 Economic & Community Minutes March 11, 2021 Development Committee for telephonic participation in the hearing. The Village requests that comments be submitted to the Village by 4:00 p.m. on Thursday, March 11, 2021. Notwithstanding this request, all comments received before the public comment portion of the public hearing will be read into the public meeting record. The physical attendance restrictions in place for this meeting have been adopted to comply with Governor Pritzker’s Executive Orders regarding social distancing and the need to maximize residential self-isolation to slow the spread of COVID-19 to the greatest extent possible. 1.0 Call to Order and Pledge of Allegiance The meeting was called to order by Trustee Puccio at 7:01 p.m. The Pledge of Allegiance was recited. 2.0 Roll Call Present 9 - Anthony Puccio, Dennis McNicholas, Garrick Nielsen, Matthew Pike, Paula Dillon, Laine Vant Hoff, Gregory Ladle, Alan Bennett, and Patrick Kennedy Also present: William Heniff, AICP, Director of Community Development, Jennifer Ganser, AICP, Assistant Director of Community Development. Jennifer LaSota and Johnny Terzakis, Hoffmann Group, Tim Sexton Director of Finance, Aaron Gruen, Gruen Gruen & Associates, Zoran Milutinovic, Robert Rychlicki, Nina Coppola from Kane McKenna & Associates, Inc. attended remotely. Anthony Puccio, Dennis McNicholas, Garrick Nielsen, Greg Ladle, Mathew Pike, Paula Dillon, Laine Vant Hoff, Alan Bennett, and Patrick Kennedy attended the meeting remotely. 3.0 Public Participation None 4.0 Approval of Minutes On a motion by Mr. McNicholas, and seconded by Ms. Van Hoff, the minutes of the February 8, 2021 meeting were approved by the members present. Village of Lombard Page 2 Economic & Community Minutes March 11, 2021 Development Committee 5.0 Unfinished Business None 6.0 New Business 200403 600-690 E. Butterfield Road (Hoffmann 600 Lombard LLC Economic Incentive Agreement): Review and consider an amended economic incentive agreement between the Village of Lombard and Hoffmann 600 Lombard LLC as it relates to the proposed redevelopment of the subject property for a mixed-use commercial/residential development. Mr. Heniff reviewed a Power Point. He said the zoning entitlements have been approved and the project is unchanged. The incentive is still $27.5 million. He said this is a structural change in the conditions to omit Business District 2 funds. Mr. Sexton said during discussions with bond counsel it was determined that by being in the Business District a higher interest rate would be charged. The developer asked to be removed from the Business District and amend the time from 16 to 18 years. The Village will need to review the removal of the property from the Business District. The TIF would remain unchanged. Mr. Sexton clarified that the Village is not issuing bonds. The Village will issue a developer note to Hoffmann. It is still a pay as a you go incentive and the risk is on the developer. Mr. Heniff said a full review of Business District 2 will need to be undertaken. He noted the ECDC can keep their original recommendation, concur with the amended request or reconsider the entire request. Ms. Coppola and Mr. Milutinovic from Kane McKenna, & Associates said their analysis still stands. Ms. LaSota thanked everyone and said this is a viable solution for Hoffmann to move forward. Trustee Puccio opened discussion up to the Committee. Ms. Vant Hoff asked who pays for the extra work done by Kane McKenna. Mr. Sexton said it is paid from the Business District funds Village of Lombard Page 3 Economic & Community Minutes March 11, 2021 Development Committee and the initial budget accounts for additional studies. She asked what was more important to the request, the extra time or the Business District removal. Mr. Sexton said they are both equally important. We can’t guarantee the Business District removal, but staff can start the review. Mr. Bennett asked if the recommendation should have a fourth condition to engage in a feasibility study on the Business District. Mr. Heniff said it’s not necessary. Staff will undertake the effort and the item will come before the ECDC. Mr. McNicholas asked if the 3-6 months to review the Business District will affect the incentive timing ending in 2040. Mr. Heniff said he hopes the review will take approximately 3 months. It can be parallel while Hoffmann closes on the property and not hold anything up. Mr. Ladle said the word “about” should change to “amount” in the conditions on the memo. Ms. Dillon, Mr. Nielsen, Mr. Kennedy, and Mr. Pike said their questions were answered. On a motion by Mr. Bennett and a second by Mr. McNicholas, the ECDC recommended to concur with the staff recommendation on page 5 of the memo, changing the word “about” to “amount." Aye: 9- Anthony Puccio, Dennis McNicholas, Garrick Nielsen, Matthew Pike, Paula Dillon, Laine Vant Hoff, Gregory Ladle, Alan Bennett, and Patrick Kennedy 7.0 Other Business None 8.0 Information Only None 9.0 Adjournment On a motion by Ms. Dillon and a second by Mr. Nielsen, the meeting adjourned at 7:37 p.m. Village of Lombard Page 4