Lombard Butterfield-Yorktown Tax Increment Financing District Joint Review Board Meeting

Village Hall Village of Lombard 255 East Wilson Ave. Lombard, IL 60148 villageoflombard.org Minutes Lombard Butterfield-Yorktown Tax Increment Financing District Joint Review Board Meeting Friday, August 11, 2017 3:00 PM Village Hall Community Room 1.0 Call to Order and Pledge of Allegiance The meeting was called to order by President Giagnorio at 3:01 p.m. 2.0 Roll Call of Joint Review Board Members 3.0 Public Participation 4.0 Appointment of the Public Member of the Joint Review Board On a motion by Paul Hoss, with a second by Keith Giagnorio, John Dillon was appointed the public member. All members present voted in favor of the motion. 5.0 Appointment of the Chairperson of the Joint Review Board On a motion by Paul Hoss, with a second by Michael Mariani, Keith Giagnorio was appointed the Chairperson. All members present voted in favor of the motion. 6.0 Overview of Joint Review Board Statutory Duties Thomas Bayer gave an overview of the statutory duties of the Joint Review Board (JRB). He noted the JRB provisions are provided for under the TIF Act. He referred to the three draft ordinances that the Village Board will ultimately need to consider. He said the JRB needs to make a recommendation to the Village Board within thirty days of this meeting. John Dillon asked if there is a residency within the TIF District requirement for the public member and Thomas Bayer said no because there was no need for a Housing Impact Study. Paul Hoss asked when the public hearing is and Thomas Bayer said it is scheduled for September 21, 2017. Paul Hoss asked if there was a quorum and how many votes they needed to pass a motion. Thomas Bayer said that the JRB takes action by a majority of those members present and voting. Members are allowed to choose not to vote. Village of Lombard Page 1 Lombard Butterfield-Yorktown Tax Minutes August 11, 2017 Increment Financing District Joint Review Board Meeting 7.0 Overview of the proposed Redevelopment Project Area for the Butterfield-Yorktown Tax Increment Financing District Robert Rychlicki went through a PowerPoint presentation on the proposed TIF District. He noted this was a key economic area for the Village and taxing districts. He went over the background of TIFs and their structure. He reviewed the proposed boundary map and described the area. The proposed TIF qualifies as a conservation area with six factors and discussed the factors. Paul Hoss asked what kind of residential development could be proposed in the area. Robert Rychlicki said this is in the early stages and it would be dictated by the market. William Heniff said this TIF District was predicated by Northern Baptist Seminary selling its property, and the Seminary is currently under negotiations to do so. The Village has not yet had a formal discussion on uses for that site. Paul Hoss asked if single-family homes would be built and William Heniff said he was unsure, but thought it would be unlikely based on current market trends, and noted it could be similar to Yorktown Commons. John Dillon asked if Carson’s Furniture was in the TIF District and William Heniff said no. Paul Hoss asked what would be considered institutional and William Heniff noted the Convention Center is tax exempt as well as Northern Baptist Seminary, and the Seminary would be considered institutional. Robert Rychlicki reviewed the proposed budget and said the TIF District would be in place for twenty-three years. 8.0 Public Comments None 9.0 Joint Review Board Question and Answer Period None 10. Future Meeting(s) Paul Hoss said he believed the Village proved their burden and made a motion to recommend approval of the Butterfield Yorktown TIF District to the Village Board, and for the JRB Chairperson to provide said recommendation to the Village Board in written form, with second made by John Dillon. Those in favor were: Village of Lombard, DuPage County, York Township, School District 88, School District 87, and John Dillon (Public Member) District 45 chose not to vote. Thomas Bayer stated that the motion carried. 11. Adjournment Village of Lombard Page 2 Lombard Butterfield-Yorktown Tax Minutes August 11, 2017 Increment Financing District Joint Review Board Meeting On a motion by Paul Hoss, with a second by Keith Giagnorio, the meeting was adjourned at 3:45PM. All members present voted in favor of the motion. Village of Lombard Page 3