Economic Development Minutes 2006 06-29-06 Page 1 of 2
APPROVED 10/17/06
ECONOMIC DEVELOPMENT COMMITTEE
Thursday, June 29, 2006
7:00 pm
City Hall Conference Room
Present:
Alderman Marty Munns, Chairman Dan Kramer
City Attorney John Wyeth Jim Ratos
Travis Miller Lynn Dubajic
Tony Graff John Phillipchuck
Pete Huinker Gary Neyer
Rick Murphy
The meeting was called to order at 7:04 pm by Chairman Munns.
1. Approval/Correction of Minutes: May 25, 2006.
3. EDC 2006 -15 Building Permit Report for May 2006 — This will move to July EDC.
4. PC 2006 — Heartland Crossing — Annexation, Zoning, and Preliminary PUD Plan
— There was a Public Hearing at Plan Commission. This will move on to COW on
August 15
5. PC 2006 -05 Bristol Ridge — Annexation, Zoning, and Preliminary Plan — There
was a 5 — 2 vote from the Plan Commission in favor of the Preliminary Plan. This will
move on to City Council on July 11 to for a Public Hearing.
6. PC 2006 -27 Matlock —1 % Mile Review — The Plan Commission moved 6 — 0 with 1
abstention recommending approval of the Subdivision request. This will move on to
COW on July 5tH
7. PC 2006 -15 Grande Reserve Unit 17 — Preliminary /Final Plat — This will move on
to COW on July 5tH
8. PC 2006 -28 Grande Reserve Unit 21— Preliminary /Final Plat — This will move on
to COW on July 5tH
9. PC 2006 -29 Grande Reserve Unit 23 — Preliminary /Final Plat — This will move on
to COW on July 51H
10. PC 2006 -30 Grande Reserve Unit 24 — Preliminary /Final Plat — This will
move on to COW on July 5
11. EDC 2006 -05 Ratos Development/Economic Initiative Agreement for
Corneils and Route 47 — This is for Commercial Development. There is an outlet
into the Rob Roy Creek. The corner will be signalized and Rt. 47 will be widened.
There was a question about whether interest would be allowed in the agreement and if
it would be flexible and tied to prime or if it would be a fixed rate. The developer is
hoping for a big box user. The developer wanted to know if the rebate portion of the
sales tax could be bumped up from 50% to 60 % -70% until the investment was paid
back. There was concern that it is contrary to the policy and that the retailer is not
known at this time. The developer has the right to come back at a later date to ask
tH
about a larger percent tax rebate. This will move on to COW on July 5
Paize 2 of 2
12. EDC 2006 -16 Raymond Regional Storm water Management Facility — It will
be funded by 3 developers and there will be a recapture agreement. This must get
approval from the other 2 developers. This will go on to COW on July 5th
2. EDC 2005 -02 Economic Incentives for Commercial/Industrial Business Update —
The policy was posted on the YEDC website as well as the City's website. The policy
was included in the packets for the Greater Chicagoland Real Estate Seminar at the
end of May. It will be used as a framework for development. There are a lot of
developments that are planning on using it.
13.Additional Business — None.
The meeting was adjourned at 7:55 pm.
Minutes submitted by Laura Leppert.
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