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05/20/1991May 20, 1991 The regular meeting of the Board of Trustees of the Village of Deerfield was called to order by the Mayor in the Council Chamber of the Village Hall on Monday, May 20, 1991 at 8:00 P.M. The Clerk called the roll and announced that the following were Present: Bernard Forrest, Mayor Marvin Ehlers James L. Marovitz Harriet E. Rosenthal Vernon E. Swanson and that a quorum was present and in attendance. Also present was Village Manager Robert Franz and Attorney James Stucko. Mayor Forrest requested that the minutes of the previous meeting be amended by deleting the phrase "to the Manpower Commission" in the second paragraph under Manpower Commission. Trustee Marovitz moved, seconded by Trustee Ehlers, that the minutes of the previous meeting, as amended, be approved. Motion carried unanimously. BILLS AND PAYROLL Trustee Rosenthal moved, seconded by Trustee Marovitz, that the Bills and Payroll be approved. Motion carried by the following vote: AYES: Ehlers, Marovitz, Rosenthal, Swanson (Q) NAYS: None (0) FINANCE DEPARTMENT - Finance Director George Valentine OBJECTIVES reviewed the Finance Department status report submitted to the Board. The goal to invest 97% of all Village funds within the control of the Treasurer and to exceed the 90 -day Treasury Bill rate was accomplished from November through April. Upcoming projects include preparation of the Comprehensive Annual Financial Report, the Property. Tax Levy, selling a $1,500,000 bond issue and writing a purchasing manual for completion by July 1, 1991. Mayor Forrest presented Mr. Valentine with a Certificate for Achievement for Excellence in Financial Reporting. This is the seventh consecutive award to the Village. FIRST FLOOR RETAIL The Village Center Development Commission TIME LIMITATIONS recommended amending the Zoning Ordinance to change the existing time limitation for Special Uses that cease operation in the C -1 Village Center District. A similar Special Use should be allowed to be established in the same location within six months. After expiration of the six month period, the Special Use for the subject property would become null and void. Trustee Ehlers moved, seconded by Trustee Rosenthal, that the report of the Village Center Development Commission regarding first floor retail time limitations be accepted and referred to the Plan Commission for a Public Hearing. Motion carried unanimously. Consent Agenda ZONING MAP AMENDMENT - Ordinance authorizing Zoning Map amendment SPECIAL USES ROBERT and certain Special Uses re Phase II of YORK AVENUE IMPROVE- the Robert York Avenue improvements. MENTS First reading. ANNEXATION OF 5.8 Ordinance annexing 5.8 acres of eastern ACRES - EASTERN TER14INUS terminus of Summit Drive. First reading. SUMMIT DRIVE ZONING MAP AMENDMENT Ordinance amending Zoning Map and 2 LOT SUBDIVISION approving a 2 lot subdivision at the EASTERN TERMINUS OF eastern terminus of Summit Drive. First SUMMIT DRIVE reading. VACATING ROW ON EAST SPRINGFIELD AVENUE, SOUTH HAZEL AVENUE R -91 -6 RESOLUTION MFT MAINTENANCE OF STREETS & HIGHWAYS Ordinance vacating certain right -of -way on the east side of Springfield Avenue, south of Hazel Avenue. First reading. Resolution for maintenance of streets and highways by a municipality under the Illinois Highway Code for 1991 in the amount of $275,000. Trustee Marovitz moved, seconded by Trustee Rosenthal, that the Consent Agenda be accepted and the Resolution passed. Motion carried unanimously. After a discussion regarding removal of trees at the eastern terminus of Summit Avenue, the Board suggested the proposed annexation agreement be revised to indicate the developer should submit to the Village for its approval which trees they designate for removal. The Board also suggested a provision that the developer provide funds to allow the Village to have a professional identify which trees could be removed. SANITARY SERVICE Village staff was successful in reducing RELOCATION - the low bid of $74,000 for the sanitary LAKE COOK ROAD service relocation at Lake Cook Road - Structure 29A. James Soyka, Director of Public Works and Engineering, recommended awarding the contract to Lenny Hoffman Excavating Company. Trustee Marovitz moved, seconded by Trustee Ehlers, that a contract be awarded to Lenny Hoffman Excavating Company for sanitary service relocation at Lake Cook Road - Structure 29A at a cost of $69,330 with a change order in the amount of $5,070. Motion carried by the following vote: AYES: Ehlers, Marovitz, Rosenthal, Swanson (4) NAYS: None (0) ENGINEERING SERVICES Trustee Rosenthal moved, seconded by AGREEMENT - BAXTER & Trustee Marovitz, that the Mayor be WOODMAN authorized to sign an Engineering Services Agreement with Baxter & Woodman re sanitary service relocation at Lake Cook Road at a cost not to exceed $12,000. Motion carried by the following vote: AYES: Ehlers, Marovitz, Rosenthal, Swanson (4) NAYS: None (0) STORM SEWER IMPROVE- The Director of Public Works & Engineering MENTS - KIPLING/ recommended J. R. Myers Co. as general LONGFELLOW /CROWE contractor for the Kipling /Longfellow stormwater improvement and Crowe Avenue sanitary sewer improvement. Trustee Rosenthal moved, seconded by Trustee Marovitz, that a contract be awarded to J. R. Myers Co. for the Kipling /Longfellow stormwater improvement and Crowe sanitary sewer improvement at a cost not to exceed $432,533• Motion carried by the following vote: AYES: Ehlers, Marovitz, Rosenthal, Swanson (4) NAYS: None (0) -2- 50/50 SIDEWALK - The Director of Public Works and CURB REPLACEMENT Engineering recommended that low bidder, Schroeder & Schroeder, be awarded the contract for the 1991 50 -50 Safety Sidewalk and Curb Replacement Program. Trustee Rosenthal moved, seconded by Trustee Marovitz, that Schroeder &.Schroeder be awarded a contract for the 1991 50/50 Safety Sidewalk and Curb Replacement Program at a unit cost of $2.65 /square foot for sidewalk and $11.95 /lineal foot for curb. Motion carried by the following vote: AYES: Ehlers, Marovitz, Rosenthal, Swanson (4) NAYS: None (0) BOND COUNSEL- FINANCIAL Mayor Forrest read a statement, a copy of CONSULTANT RE BOND SALE which is attached, recommending a $1.5 million General Obligation Bond Sale for the purpose of financing projects in the downtown TIF district. Finance Director, George Valentine, recommended Ron Norene be appointed financial advisor and Lou Greenbaum be appointed bond counsel for this project. Trustee Marovitz moved, seconded by Trustee Ehlers, that authorization be given to retain Ron Norene as financial advisor for the $1.5 million General Obligation Bond Sale, at a cost not to exceed $6,000 and Lou Greenbaum of Katten, Muchin & Davis be retained as bond counsel for the project, at a cost not to exceed $4,000. Motion carried unanimously. IDOT 1989 MFT AUDIT accept and place on unanimously. There being no furt seconded by Trustee ATTEST: t-Village Clerk Trustee Swanson moved, seconded by Trustee Marovitz, that authorization be given to file IDOT's 1989 Audit. Motion carried her business, upon motion of Trustee Marovitz, Swanson, the meeting adjourned at 8:55 P.M. APPAVED: -3- I am recommending tonight that the Village sell a $1,500,000 bond issue for the purpose of financing projects in the downtown TIF district. There are three factors which lead me to this conclusion: (1) The Illinois statute which allows Tax Incremental Financing Districts provides two different levels of participation by the State of Illinois in the financing of the district. A TIF district which sells a bond issue before July 29, 1991, will receive additional years of state sales tax. This means that over the period of the TIF district, the Village will receive approximately $737,000 more in current dollars if a bond issue is sold. (2) Interest rates have fallen to their lowest point in many years. Therefore, if the Village were to sell a bond issue, the interest cost would be low. (3) The Village does have projects to be completed in the downtown district over the next three years. These would be the continuation of Robert York Avenue, the reconstruction of Osterman Avenue, and the continuation of Streetscape. These factors all indicate that the Village sell a bond issue. This bond issue will be a general obligation bond issue, that is, the full faith and credit of the Village will be behind it. However, the property tax levy will not be used to repay either the principal or interest on this debt. The Village will use the funds generated from the TIF district or other available funds to repay this obligation, and the Village will abate each year the total amount of the principal and interest for this bond issue.