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01/04/19881 January 4, 1988 The regular meeting of the Board of Trustees of the Village of Deerfield was called to order by the Clerk in the Council Chamber of the Village Hall on Monday, January 4, 1988 at 8:00 P.M. The Clerk called the roll and announced that the following were Present: Bernard Forrest, Mayor James L. Marovitz Cynthia J. Marty Harriet E. Rosenthal Edwin B. Seidman Vernon E. Swanson J. Robert York and that a quorum was present and in attendance. Also present-were Village Manager Robert Franz and Village Attorney James Stucko. Trustee Seidman moved, seconded by Trustee Marty, that the minutes of the previous meeting be approved. Motion carried unanimously., Aso Mayor Forrest read the attached statement regarding Deerfield's $10,000,000 General Obligation Bond Issue sale. As a result of this transaction,.the Village has received $428,000 which will be applied to funding the Street Rehabilitation Program. PUBLIC HEARING - Jim Bennett, representing Village Cab North, VILLAGE CAB NORTH appeared before the Board. He stated his company had received several calls from Deerfield . residents for cab service and was seeking permission to operate in the Village. A discussion on the cab situation in Deerfield did not signify a need for additional service at this time. Petitioner was advised to return at a later date and come prepared with figures that indicate a need for additional cab service in the Village. Trustee Marty moved, seconded by Trustee Marovitz, that the Public Hearing be closed. Motion carried unanimously. Trustee Rosenthal moved, seconded by Trustee Swanson, to approve a Certificate of Public Convenience & Necessity to Village Cab North of Highwood, Illinois. Motion failed with Trustee Rosenthal casting the only affirmative vote. SPECIAL USE /PRD Petitioner wishes to divide subject property into KENMORE - BUSSCHER two lots, one facing Park Lane and the other facing Kenmore. Both streets are fully improved and no variations are requested. Trustee Seidman moved, seconded by Trustee Marovitz, that the recom- mendation of the Plan Commission regarding Busscher request for Special Use / Resubdivision Planned Residential Development- Kenmore between Gordon and Laurel be approved. Motion carried unanimously. RESUBDIVISION - 1350 GREENWOOD Petitioner wishes to divide the property into two lots, one facing Meadow, the other facing Greenwood, both fully improved streets. Trustee Marty moved, seconded by Trustee Rosenthal, that the recommenda- tion of the Plan Commission regarding resubdivision of property at 1350 Greenwood be approved. Motion carried unanimously. CONSENT AGENDA 0 -88 -1 ORDINANCE Ordinance amending Municipal Code granting Class CLASS G LIQUOR G liquor license, Hyatt Hotel. LICENSE - HYATT HOTEL 1�9� SPECIAL USE - REDEVELOPMENT- JEWETT PARK SPECIAL USE - REDEVELOPMENT TRAIL TREE PARK Ordinance granting Special Use for Redevelopment of Jewett Park. First reading. Ordinance granting Special Use for redevelopment of Trail Tree Park. First reading. Trustee Marovitz requested Staff to confirm the placement of proposed fencing at Trail Tree Park. There appears to be some confusion on the specific area to be fenced. Trustee Seidman moved, seconded by Trustee Marovitz, that the Consent Agenda be approved and the Ordinance adopted. Motion carried by the following vote: AYES: Marovitz, Marty, Rosenthal, Seidman, Swanson, York (6) NAYS: None (0) NORTRAN SERVICE - NORTRAN Trustee Bob Benton discussed a report on HACKBERRY ROAD the Hackberry Road bus service. Some residents have requested termination of this service. A survey conducted by NORTRAN indicated low ridership on this seqment of Route 214 and recommended rerouting. Mr. Benton stated that the final decision regarding this rerouting be made by the Village. Several residents who attended the NORTRAN meeting in November expressed their views on terminating the Hackberry Road service. The Board noted that the issue of mass transportation in Deerfield will have to be faced again in the future. Trustee Seidman moved, seconded by Trustee York, that the NORTRAN service on Hackberry Road be discontinued and Bus Route 214 be rerouted from the train station west on Deerfield Road to Wilmot Road and south to Lake -Cook. Motion carried unanimously. MANPOWER COMMISSION Mayor Forrest announced the following appoint- ments: Robert Speckman, reappointed Chairman of the Board of Zoning Appeals; Alvin Silvian, reappointed Chairman of the Youth Council; Catherine Curtis, reappointed Chairman of Human Relations Commission; Jesse Rotman, reappointed Chairman of Cable Advisory Board; Marvin Ehlers, appointed Chairman of Plan Commission. Trustee Marty moved, seconded by Trustee Rosenthal, that the appoint- ments be approved. Motion carried unanimously. DISCUSSION ITEMS Trustee Marovitz inquired if the Village had a TTD system operating in Deerfield for emergency purposes. Village Manager Franz indicated he believed there was such a system in the Village. He would investigate further to confirm this. There being no further business, upon motion of Trustee Rosenthal, seconded by Trustee Marty, the meeting adjourned at 8:45 P.M. ATTEST: Village Clerk AP. OVED: Mayor -2- F_J 1 1 MAYOR ' FOREST' S• STATEMENT. . DECEMBER, 1987 GENERAL OBLIGATION BOND ISSUE As you know, last week the' Village completed its-sale of a $10,000,000 General Obligation Bond Issue" 4in order to avail itself of an innovative investment opportunity. Because of Deerfield's overall strong financial position and bond credit rating, we are the first municipality in Illinois (and maybe the United States) to enter into this.type of transaction. Proceeds from the $10,000,000 bond sale were used to purchase Dade County Florida Revenue Bonds which have been placed in escrow and will be used to pay the principal and interest on the 1987 bonds. The Dade County Revenue Bonds are insured by Municipal Bond Investors Assurance Corporation and, therefore, are rated "AAA" by Standard & Poor's Corporation. As a result of this transaction, the Village has received $428,000 which will be applied to funding our Street Rehabilitation Program. I commend the Board and staff for their innovation and foresight in undertaking this unusual'inve-stment opportunity. Due to the sound financial management principles practiced in Deerfield, we were able to capitalize on our bonding power and take advantage of this additional source of revenue.