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Joint Review Board 2000 03-19-00 JOINT REVUE BOARD UNITED CITY OF YORKVILLE MINUTES OF UARCH 19, 2000 City Administrator 14r. Jim Nanninga called to order the March meeting of the Joint Rex4ew Board at 2:00 p.m. Roll Call: Members Present: Don Burk-es Jim Nanninga Scott Buening Jay y ToAian Xlichael Flitzemann Rick Radeke Guests: Kathleen Field Orr, Jack Pettigrew, and additional guests. MOTION TO APPOINT PUBLIC MEMBER N.1r. Burk-es motioned to appoint 1\/Ir. Nanninga, and 1\4r. Buening seconded, All members present voted aye. Motion accepted 6-0. MOTION TO APPOINT Cl-LAJRPERSON 1\4r. Buening motioned to appoint 1\4r. Nanninga, and 1\4r. 1htzemann seconded the motion. Xh-. Nanninga accepted, and motion was carried 6-0. REVIENV Mr. Nanninga introduced X,,h-. Jack Pettigrew, who discussed information on the report. Mr. Pettigrew opened by stating that this would be an over\,iew for the TIF, discussing the principles and authors for the taxing districts. A brief hisstoi3, was given on the federal government's assistance for these, and it was noted that states considered alternative techniques that were not norma,113, financed through revenues. A tax- increment finance (TIF)was established in 1977, in which the total of equalized assessed values was called a base value. The Industrial Park's base is 3 million, and there is a potential for $320,000 worth of square feet at the current incremental value. The TIF maximum lifespan is 23 years., and every city has attempted to complete it on less firne. Mr. Pettigrew added that the qualifications for the TIF include: 1) Improved Areas(buildings, conservation areas) 2) Vacant ,-Itreas (Blighted areas) 3) Industrial Park Conservation Areas Surveys have been conducted within the community, and the Fox Industrial Park TIF district report, called the Redevelopment, Project and Plan Area, includes 62.5 acres of 1 which are ianprovement areas, and vacant areas. To qualify as a blighted area,you must qualify to five or more requirements by the State. Mr. Pettigrew went on to say that in the overall budget, $125,000 would go for planning costs and others. The focus will be on upgrading and improvements. If the City is successful, the estimate of$325,000 square feet is not aggressive. Mr. Nanninga asked if there were any questions from the board pertaining to thus. Mr. Buening asked what other efforts has the City looked at in regards to this, and raised a question of it not being added into the budget. Mr. Nanninga stated that there are more expensive projects in small pieces. Mr. Burkes asked if the district has identified any older sections of town to use for a blighted area, and added that there was a definite need for this. Ms. Carr stated that man)-areas do not qualify. The TIF is to prevent further deterioration. Part of the law is to prevent fui Cher decline. 114r. Pettigrew stated that there are many older areas that are prime for this, but some older areas are very well maintained. There are several factors to consider for eligibility. Mr. Tol4an stated that[lie cost is considerably-high, and asked if we are looking at 10 years to pay off the debt. Ms. Orr stated that on the redevelopment plan, there is a budget. The Board would have to reconvene. Timing will be contingent upon the TIF. The Joint Review Board must come together within one Year. There is no legal ability to abuse a TIF. Mr. Toxian stated that it would be approximately $580,000 to $590,000. N.1r. Burk-es raised the questions of pedestrian walkways, and asked if this should be adhered strictly to. Ir. Pettigrew stated that provisions have been built into the plan. He added that the TIF's are in predominantly small towns. Mr. Nanninga stated that we want alternate revenue bonds, and would like to pay the loan off quickly. Mr. Hitzemann stated that it would be supplemented with the motor fuel tax. Mr. Nanninga agreed, and added that we will review the census. The increment will pay for the project. We have generated interest. Mr. Buening asked how many permits would there be for vacant properties. Mr. Nanninga,stated that there would be at least one, and one in for self-storage. Ms. Oir distributed copies of the ordinance drafts, in which there are three ordinances. The first being plan/project approval, the second being designating the areas, and the third being technology with regards to the TIF. Mr. Pettigrew stated that the general process is for the district to hold a public meeting regarding favoritism or not. Mr. flitzemann stated that he would have difficulty with this Mr. Buening indicated that there had been no formal directions with this. Mr. To-\,ian asked what the tirrieframe would be on this, Ms. Orr stated that it would be within 30 days after convening of the Board, on the basis of satisfying components and getting the meeting objectives. If you disapprove, you need to write or give a report. If the Board recommends or rejects it, then the municipality gets 30 days to resubmit it. We have until the 10 to make a recommendation. Mr. Fhtzemann stated that we are agreeing with the study, but not necessarily the TIF. Ms. Orr stated yes, and you are representing your taxing districts. Mr. Buening asked if we vote-yes, then the boards decide not to take the position, then I will this not meet the 1,14 majority. Ms. Orr stated yes. Mr. Nanninga then stated times for the next meeting to convene regarding the votes. L NIr. Buening asked if the Forest Preserve District had a voice in this matter. Ms. 01T stated that these were excluded districts. N4r. A`ywrot described the roadway projects that would primarily be done, including the curbing and driveway removal and replacement, stolin sewer on Deer, Beaver, and Badger streets, the street lighting, and the parkway trees. Mr. Hitzemann asked if there would be any new signs at the entryway. Mr. AV'ywrot stated that there would not be. Mr. Tox4an asked if there was enough increment to pay for the project. 3 Mr. Nanninga stated yes, that it is based on the population, and if the numbers are true, then we will have slightly more money. He added that it is a 20-year bond, with anticipation to prepay. Nir. Hitzemann stated that the Fire District proposed an increase on impact fees. XXTe are facing three major projects, and we find it difficult giving up the extra funds. We do not want to go to the public for a referendum for tax dollars. Mr. Burkes agreed, and stated that we have had questions with other taxing dollars. Nuts. Orr stated that these are issues to be discussed at the City Council. There are two ways to work with a tax district: The capital cost as direct result of development, and for the residential TIF, this is a cost to the school. The other is redevelopment area where the Cite=has to install another water tower. Mr. Nanninga then asked if there were any further questions regarding these matters. He stated that there would be a predetermined date to vote on this matter. Meeting :adjourned 3:17 p.m. N%iinutes by Lisa Sleezer 4 UNITED CITY OF YORKVILLE JOINT REVIEW BOARD MEETING PROPOSED RE-DEVELOPMENT PROJECT TAX INCREMENT FINANCING MARCH 19,2001 SIGN IN SHEET NAME (PLEASE PRINT!) REPRESENTING PHONE �9icihi�zl ll,rzr ePI-,r KP-vd� c F'i,P, t, Ke-j'(( (,,4A - 411 Y `i v