Micro Loan Review Committee

RANTOUL ECONOMIC DEVELOMENT ADVISORY February 3, 2014 7:00 P.M. Members Present: Charles Smith, Chad Smith, Karly Combest, Mandy Briggs, Denny Long and Paula Hopkins. Members Absent: Cory Hatfield, Carol Easton, and Kellie Wahl Mayor Smith called the meeting to order at 7:02pm. There was no public participation. After reviewing the minutes Chad Smith moved/Mandy Briggs seconded approval of the January 20, 2014 minutes as presented and corrected. Motion approved, all voting “aye”. Elections The Mayor asked the group if they would like to hold the elections, wait until the entire group was in attendance or call a special meeting for the elections. After discussion, the group decided to continue with the elections. Paula Hopkins moved/Denny Long seconded to have Chad Smith serve as President. Motion carried, all voting “aye”. Karly Combest moved/ Denny Long seconded to have Cory Hatfield serve as Vice President. Motion carried, all voting “aye”. Denny Long moved/Paula Hopkins seconded to have Mandy Briggs serve as Secretary. Motion carried, all voting “aye”. Mandy Briggs moved/Karly Combest seconded to have Karly Combest serve as Assistant Secretary. Motion carried, all voting “aye”. The following will now serve as officers: Chad Smith, President Cory Hatfield, Vice President Mandy Briggs, Secretary Karly Combest, Assistant Secretary International Council of Shopping Centers The ICSC will meet in Chicago in October. The Mayor will be attending the conference and would like to have one of the members of the group to join him. Stonebridge Subdivision The Mayor reviewed the plat for the Stonebridge Subdivision which is owned by Warner Development. He indicated where the hotel would be built and the area designated for retail businesses. The Hotel is a Holiday Inn Express with approximately 70 rooms. When asked, Mr. Sandahl stated that it was still the Warner family’s intention to add a restaurant 1 and strip mall. The group expressed concern about including the Warners in the discussions about the development of the property. They asked Mr. Sandahl to contact the family and invite them to a meeting. Karly Combest said she had investigated several restaurants that might be a good fit for the Village. They are Zaxby’s, which specialized in chicken; Moe’s Southwest Grill, a fast food Mexican restaurant, and Cheddar’s Wish list for Development Karly Combest said she would like to have retail stores such as Home Goods, Marshalls, DSW, Cosco and Ikea. She also would like to see Whole Foods, Trader Joe’s or Carraba’s, an Italian restaurant, come to the Village. The Mayor asked all the members to be prepared to share a list of desired businesses at the next meeting. Retail Strategies The Mayor brought up the web site for Retail Strategies. They offer a service similar to Buxton. Mr. Joseph Fackel will make a presentation to the Village Board at the March 4 meeting. They proposed a fee of $50,000 plus $25,000 per year for two years. They will prepare demographic information and will meet with the Village and prospective clients. However they will not negotiate contracts. Retail Strategies has a real estate brokerage license and they may be more motivated to provide results based on the sale of the property. They have worked mostly in the southern states and the Mayor could not find any towns in Illinois they had worked with. There are no funds specified in the budget for this type of consultant but the Mayor assured the group the funds would be available. Denny Long would like to submit questions to Mr. Fackel prior to the meeting on March 4. The Mayor said he would be glad to forward these questions. Denny also suggested talking with the Chicago Bankers to see which firms in the state might offer this same service. The Mayor is working with the Economic Development Director of Tinley Park, Ivan Baker. Mr. Baker has recommended a company that will do statistical overlays for approximately $2,000. Residential Group The Mayor reviewed the information discussed at the January 20 meeting regarding the housing in the Village. He met with a Chicago developer regarding the Warner residential plan. The developer stated he would be interested if the infrastructure was in place. Karly Combest asked about offering incentives for new homes. She expressed concern about paying $20,000 for a lot, investing $100,000 for a home and then not being able to get a return on her investment. Public Transportation 2 Paula Hopkins asked about the possibility of MTD service between the Village and Champaign. Student housing is very hard to find in Champaign and most students need the public transportation option. Mr. Sandahl recapped the discussion at the January meeting regarding ongoing discussions with MTD. Mission Statement Mandy Briggs stated she would like to narrow down the focus of the committee. She was concerned that the group might focus on one area to the detriment of other areas in the Village. Denny Long agreed that the committee needs to develop a Mission Statement to assist them in their goals. Next Meeting The next meeting of the group will be Tuesday, March 4 at 6:00 pm. The group will then adjourn to attend the Village Study Session for the presentation by Retail Strategies. The group will reconvene after the Study Session to discuss the presentation. There being no further discussion before the committee, Chad Smith moved/Mandy Briggs seconded a motion to adjourn. Motion approved all voting “aye”. Respectfully submitted by, Janet E. Gray, MMC Deputy Clerk 3.

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