Minutes of the Regular Meeting of the Gurnee Economic Development Committee - May 16, 2013

Village of Gurnee

Economic Development Committee Minutes

May 16, 2013

 The meeting was held in Conference Room A, Gurnee Village Hall, 325 N. O’Plaine Road and called to order at 6:05 P.M.

Members Present:            Trustee Stephen Park, Rob Elbrecht, Tom Henderson, Roneida Martin, Karen Thorstenson, Dick Welton

Members Absent:             Randy Ebertowski, Bill Finn, Brad Jenks

Other Officials Present:    David Ziegler, Community Development Director, and Ryan Mentkowski, Associate Planner

1. Approval of the March 21, 2013 Meeting Minutes

Mr. Welton made a motion, seconded by Mr. Elbrecht, to approve the March 21, 2013 meeting minutes, as presented.

All voted ‘aye’. Motion carried.

2. Education Items:

Mr. Welton presented a summary on the progress of the Internet Sales Tax law. 

3. Unfinished Business

No unfinished business items to report.

4. New Business

a. Review and Recommendation of Action Items for Economic Development Policy #2, titled Determine Infrastructure / Capital needs and identify where investment in business opportunities exist to improve and diversify the Village’s sources of funding.

Mr. Mentkowski presented an overview of the Economic Development Policy Objectives & Action Items for Infrastructure / Capital Needs (Policy #2).  As part of Policy #2, Mr. Mentkowski discussed the recommended staff action items, which were separated into two different objectives: Objective 1) to target the determination of infrastructure and capital needs and Objective 2) to identify where investment in business opportunities exists to improve and diversify the Village’s funding sources. 

Mr. Mentkowski stated that for Objective 1, the recommended action item is to develop a revised Capital Improvement Plan/Program (CPI) as the last CPI was updated in fiscal year 2006/2007 – 2010/2011.  He stated that as part of this item an examination of updated infrastructure information should include the review of the street, water, and sewer systems; administrative facilities; and economic development function/focus.  He stated that the other action items include updating the CPI on a yearly basis and identifying a variety of appropriate funding options to ensure long-term financing of capital projects.

Mr. Mentkowski also presented the recommended action item for Objective 2 which is to identify where investment in business opportunities exist to improve and diversify the Village’s sources of funding.  He stated this analysis includes identification of current major revenue sources, what existing sources could be expanded, and what revenue sources are maxed out.  He stated the objective also should address identification of how and when to pay for infrastructure improvements and which funding options the Village can consider for capital improvement funding and/or redevelopment projects.  He provided examples of such funding options including State of Illinois incentives (i.e. tax credits) and local programs (i.e. tax incremental financing).  Mr. Mentkowski completed his presentation of Objective 2 with the final analysis being to create a business toolbox that staff can utilize from an approved financial fund/package to entice targeted business into the Village. 

Ms. Thorstenson asked what taxes from the revenue sources would have the least impact on residents.  She also asked if taxes are legally feasible on commercial property vacancy and services.

Mr. Ziegler responded that per State Statues a tax on services is not allowed.

The Committee directed staff to pursue forward with the work stream / financial analysis of action items on the Capital Improvement plan with a specific focus on economic development focus.

b. Review and Recommendation of the proposed work stream / financial analysis of action items for Economic Development Policy #1, titled Create a Business Attraction / Business Retention Policy.

Based upon limited time available, this item was tabled until a future meeting.

 No formal action taken.

5. Agenda Items for Next Meeting Date: June 20, 2013

No meeting items discussed formally.

6. Chairman Comments

No comments discussed formally.

7. Adjournment

Trustee Park asked for motion to adjourn.

Rob Elbrecht made a motion, seconded by Karen Thorstenson, to adjourn.

All voted ‘aye’. Motion carried.

The Meeting was adjourned at 7:30 P.M.

Respectfully Submitted:

David Ziegler
Economic Development Committee Secretary