Kendall County Economic Development Committee met January 19.
Here is the minutes provided by the Committee:
Call to Order:
The meeting was called to order by Chair Audra Hendrix at 9:05 a.m.
Roll Call:
Committee Members Present: Chair Audra Hendrix, Lynn Cullick, Matt Kellogg (arrived 9:06, departed at 10:20), Scott Gryder Committee Members Absent: Elizabeth Flowers,
Elected Officials Present: Kendall County Treasurer Jill Ferko
Staff Present: Andrez Beltran, Economic Development and Special Projects Coordinator; Scott Koeppel, Acting County Administrator
Members of the Public: City of Sandwich Mayor Rick Olson, Sandwich Economic Development Corporation Executive Director Jim Teckenbrock, Montgomery Economic Development Corporation Executive Director Charlene Fiore-Coulombe
Approval of Agenda – Member Cullick made the motion to approve the agenda. It was seconded by Member Gryder. Approved 3-0.
Approval of Meeting Minutes – Member Gryder made a motion to approve the meeting minutes from the October 20 meeting. Seconded by Member Cullick. Approved 3-0.
Committee Business
Sandwich Former Waterpark Property
Mr. Beltran stated that the former Water Park property in Sandwich, located in the Timber Creek development, is a current development challenge for the City. Since 2010, no taxes have been paid on the property He continued that the back taxes are about $480,000, with an estimated market value $839,199, and an estimate by a developer that redevelopment would cost $600,000. This places estimated redevelopment of the site at $1.92 million. He stated Mayor Rick Olson wanted to come to the Committee to ask for collaboration in making the property productive
Mayor Olson stated that the property has sat vacant since 2010, and that the previous and current owners did not have the proper bonds to cover the cost if abandoned. After being abandoned, the City of Sandwich had to spend money to make it environmentally safe. He also is concerned that the back taxes is preventing the development of the property. There has been no interest in the property since he has come into office. He is hoping the County can help find a collaborative solution.
The Committee agreed that it was a concern of theirs, and they wanted to help get the property back to being a productive parcel. The Committee instructed staff to work with the City of Sandwich and other taxing bodies as well as departments and offices at the County to see if there was a solution to the problem.
Development Challenges in Kendall County
Mr. Beltran had briefed the Committee earlier of a possible trucking company looking to locate near the Caterpillar site. This would have been a $14 million dollar investment. However, development costs of the site were too high for the company. Charlene Fiore-Coulombe of Montgomery EDC was the lead on the project, and Mr. Beltran asked her to speak to the development advantages and challenges in the area.
Ms. Fiore-Coulombe stated that there are challenges in the County. Utility access is not as prevalent in as in competing areas, and to gain access it can have significant costs. Interstate access is another challenge due to distance. In addition, finding existing building stock that is up to date can also be a difficulty, as renovation costs can be expensive.
Ms. Fiore-Coulombe did state that there are many benefits in the County. Specifically, there is no impact fee for vehicles unlike in other Counties. In addition, though the building stock is not as prevalent as other areas, greenfields are easily developable and prices are cheaper than nearby competitors. The biggest advantage, though, is that the elected officials and economic development personnel in the County are willing to work with companies to help them locate and expand here.
The Committee thanked Ms. Fiore-Coulombe for her time and insights.
Lucky Beef and Dog’s Loan
Mr. Beltran that on January 1, Lucky’s Beef and Dogs announced their closing on Facebook. As to date, they have still has not made any payments past the first. With closing, the violated section 5 of the mortgage provision.
The Committee agreed that it was unfortunate, but said they needed to move forward. Member Kellogg made the motion to direct staff to move forward with the steps to take legal action. Member Cullick agreed. Chair Hendrix called for a rollcall vote. Kellogg- aye, Cullick – aye, Gryder – aye, Hendrix – aye. Approved 4-0.
Member Kellogg left the meeting at 10:06 a.m.
Tax Abatement forms and scoring
Mr. Beltran stated there has been a number of inquiries about property tax abatement for projects. The last tax abatement given was for Wrigley’ expansion in 2014. Standard applications, forms, and formulas for abatement had been created, but were never officially adopted by the Committee. The Committee thanked Mr. Beltran and stated they would look them over for the next Economic Development Committee meeting.
Strategic Plan
Mr. Beltran stated staff wanted to bring the discussion back to the Committee for a final look. If there are no revisions, in February, a draft Strategic Plan will be brought to the Committee to review.
Updates and Reports
Revolving Fund Loans
• Monthly Loan Statements
Mr. Beltran stated that there is currently approximately $1.7 million dollars available to loan. Currently all loans except Lucky Beef and Dog’s is current.
Update: Current TIFs in Kendall County
Mr. Beltran stated he attended the annual Joint Review Board for the TIF districts in Montgomery and Yorkville. The Montgomery TIF was started in 2006 and has 13 years left. It is located at U.S 30 and Fifth Street on the north side between Farm and Fleet and Sam’s Club. 2017 TIF revenue was $39,630 with a fund balance of $93,228.
He also attended the two Yorkville TIF districts JRB. The Countryside Redevelopment TIF at Route 47 and Route 34. The TIF was initiated in 2005, and has 12 years left. 2017 TIF revenue was $215,360. Current fund balance is ($495,754). Other items of note is that Holiday Inn was granted a $600,000 TIF rebate, which has an estimated return on investment of 6-7 years. There are three remaining lots in the development, and no new incentives are expected to be given. The second TIF is the Downtown TIF district. The TIF was initiated in 2006. It is located in the Downtown of Yorkville. 2017 TIF revenue was $68,763; ending fund balance was $97,556. Other notes was that most major projects in the TIF for the next year focus on streetscape and parking with further planning held off until/if the TIF gets extended.
Chairwoman’s Report - None
Public Comment – None
Executive Session - None
Adjournment:
At 10:30 a.m., Member Gryder made to adjourn. Member Cullick seconded. With no objection, the meeting adjourned.
https://www.co.kendall.il.us/wp-content/uploads/Econ-Dev-Minutes-1-19-2018.pdf
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