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Joint Review Board Minutes Countryside 2018 12-11-18 Page 1 of 2 APPROVED 11/12/19 ANNUAL JOINT REVIEW BOARD UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS US RTE 34 & IL RTE 47 COUNTRYSIDE REDEVELOPMENT PROJECT AREA Tuesday, December 11, 2018 3:00pm City Hall Conference Room 800 Game Farm Rd., Yorkville, IL Call Meeting to Order The meeting was called to order at 3:00pm by City Attorney Kathleen Orr and she explained the order of the meeting. Roll Call Attorney Orr took roll call as follows: Kendall County Scott Koeppel United City of Yorkville City Administrator Bart Olson Waubonsee Community College District #516 Sarah Orth Bristol-Kendall Fire Protection District James Bateman Tom Lindblom Kendall Township no representative Yorkville School District #115 no representative Others Present: City Attorney, Kathleen Orr City of Yorkville, City Administrator Bart Olson City of Yorkville, Assistant City Administrator Erin Willrett City of Yorkville, Finance Director Rob Fredrickson City of Yorkville, Community Development Director Krysti Barksdale-Noble Page 2 of 2 Motion to Elect or Re-elect Public Member Ms. Orr called for a motion to elect a Public Member. So moved by Tom Lindblom and seconded by Bart Olson to elect James Bateman as Public Member. Unanimous voice vote approval. Motion to Elect or Re-elect Chairperson A motion was made by Mr. Bateman and seconded by Mr. Koeppel to re-elect Mr. Olson as Chairperson. Mr. Olson then assumed chairing the meeting. Minutes for Approval The minutes from last year's meeting on December 12, 2017 were approved on a unanimous voice vote following a motion by Mr. Lindblom and second by Mr. Koeppel. Review of Annual Report for the US Rt. 34 & Il Rt. 47 Countryside Redevelopment Project Area Mr. Fredrickson highlighted the financial report figures on page 5 and commented briefly on other aspects of the report. He said the hotel in this TIF area is still under construction and expected to open in the latter half of 2019. Mr. Lindblom and Mr. Koeppel, moved and seconded respectively, to approve this report and it was adopted unanimously by voice vote. Questions, Comments from the Board None Discussion, Deliberation and Recommendation Mr. Olson said the TIF agreement demands completion and operation of the hotel by the end of 2019 and at that time $700,000 would be given to the hotel. Property taxes generated by the hotel and banquet facility are expected to exceed the bond payments as of 2021. Debt service will be paid down and it is expected to close early or on term. A couple other smaller commercial buildings with tenants are scheduled to be built in this area. There was no further business and the meeting was declared adjourned by Mr. Olson at 3:11pm. Respectfully transcribed by Marlys Young, Minute Taker