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Home My WebLink AboutICRC - 02/21/2008 - ICRC FY08/09 BUDGET • f�. �,�ls�l, Y C� INDUSTRIAL COMMERCIAL REVITALIZATION COMMISSION ELK GROVE VILLAGE BUSINESS PARK MEETING MINUTES FEBRUARY 21, 2008 CHERNICK CONFERENCE ROOM RECE/Vel Present: Mayor Craig Johnson '"'v Q 4 2408 Trustee Sam Trustee Jim Petri I<<Hyt U4r��S afF1 Ron Behm CF Jack Connelly Scott Golbeck Bob Kleckauskas Frank Lateano Alex Prochno Ed Ruszkowski Staff- Alan J. Boffice, Director of Engineering and Community Development Mary Jo Pye, Deputy Director of Engineering Brian Lovering, Staff Engineer Absent: Tom Farrell John Gullo George Johnson Tom Porte The Mayor updated the Commission on the status of Alexian Brothers Tour of Elk Grove. The bicycle race will be held on August 1St, 2„d and 3rd. The race will be funded by the new 1% hotel/motel tax and increased sponsorship. The Village is not requesting any funding from ICRC this year. The Village would still like the ICRC to be "Goodwill Ambassadors"of the bike race. The Commission recommended that the Village consider additional signage at the bike race to promote the Business Park. For example "The greatest race from the greatest business park The Commission requested that the new Economic Development Brochures, Advertisement and the ID ROM Video be published in English, Spanish, Italian, German, and Japanese. The replacement of the Devon Avenue rail crossing west of Lively Boulevard was discussed. Also, the Commission requested that staff look at the southbound right lane rail crossing on Busse Road just south of Pratt Boulevard, Page 1 of 3 41 The ICRC FY `08/'09 Budget was presented to the Commission. The budget includes sixteen (16) Capital Improvement Projects representing ongoing project studies and construction activities outlined in the ICRC Master Plan. The Commission requested a summary of revenues for the ICRC program. Discussion items included land acquisition, capital projects and the marketing program. The Commission unanimously approved the ICRC FY `08/'09 Budget. The Commission was updated on the status of ICRC projects: LIVELY BOULEVARD— TOUHY AVENUE TO DEVON AVENUE Roadway construction was substantially completed. Remaining work for Spring 2008 includes pavement markings, tree planting, sod and punch list work items. ARLINGTON HEIGHTS ROAD AND DEVON AVENUE INTERSECTION Preparation of contract plans continues for the intersection and right-of-way acquisition has started. The project is scheduled for a late Fall letting in 2008 with the majority of construction occurring in 2009. BUSSE ROAD LIGHTING Construction of lighting on Busse Road from Touhy Avenue to Howard Street will begin in late April 2008. Contract plans are being developed for two sections of Busse Road lighting, Mark Street to Pratt Boulevard, and Pratt Boulevard to Touhy Avenue. The projects could be constructed in late 2008 dependent on funding. MEACHAM ROAD AND NERGE ROAD LIGHTING Contract plans for the intersection lighting are being finalized and could be let in late Spring 2008. ARLINGTON HEIGHTS ROAD AT LANDMEIER ROAD AND OAKTON STREET Design studies have begun to evaluate geometric improvements at these intersections. The Commission inquired if a study should be preformed to see if fiber lines recently installed for the new data centers are sufficient within the Village limits or if the Commission should consider expanding the fiber network to more locations throughout the Business Park. There were some misconceptions regarding the Village's procedures for teardowns in the business park. Discussion ensued and the Commissioners questions were answered by engineering staff. Page 2 of 3 C: Mayor & Board of Trustees, Trustee Petri, Trustee Lissner, ICRC Commissioners, D. Miller, Fire Chief, S. Schmidt, Police Chief, T. Cech, Director of Public Works, V. Sammarco, Deputy Director of Public Works, A. Boffice, Director of Engineering & Community Development, A. Walsh, Village Clerk, M. Cavallini, Health & Community Services Director, R. Rummel, Village Manager, M. Roan, Deputy Village Manager, B. Jacobsen, Asst. to the Village Manager, G. Knickerbocker, Village Attorney, C. Tromp, Finance, N. Carlson, Economic Development Officer Attachment: Revenues, Expenditures and Changes to Fund Balance Page 3 of 3 Village of Elk Grove Revenues, Expenditures, and Changes to Fund Balance Industrial/Commercial Revitalization Fund Village Actual Estimate Manager 2006-07 2007-08 2008-09 Fund Balance, May 1 $ 7,771,046 $ 8,129,817 $ 7,289,817 Revenues Taxes $ 1,785,126 $ 1,800,000 $ 1,800,000 Investment Income $ 380,145 $ 325,000 $ 300,000 Intergovernmental $ 718,789 $ 2,535,000 $ 1,000,000 Miscellaneous $ - $ - $ - Total Revenues $ 2,884,060 $ 4,660,000 $ 3,100,000 Expenditures Highways and Streets $ 2,525,289 $ 5,500,000 $ 7,410,357 Total Expenditures $ 2,525,289 $ 5,500,000 $ 7,410,357 Less Funds Budgeted Not Expended $ - $ - $ - Excess (Deficiency) of Revenues Over Expenditures $ 358,771 $ (840;000) $ (4,310,357) Fund Balance, April 30 $ 8,129,817 $ 7,289,817 $ 2,979,460 The EGV municipal telecommunications tax was approved by the Mayor & Board on 1/23/96 at a rate of 3%. (Ordinance # 2467)