78-0524 Special Service Area 2 3" 4-
RESOLUTION
AUTHORIZING AN AGREEMENT WITH CARL WALKER AND ASSOCIATES, INC.
WHEREAS, City of Elgin Special Service Area Number 2 has heretofore
been formed for the purpose of constructing and maintaining a parking
structure including land acquisition and related street improvements;
and
WHEREAS, Carl Walker and Associates, Inc. has submitted its writ-
ten proposal to provide necessary professional engineering services;
and
WHEREAS, it is necessary and desirable to accept said proposals:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ELGIN ACTING AS THE GOVERNING BODY OF CITY OF ELGIN SPECIAL SERVICE
AREA NUMBER TWO:
That Richard L. Verbic, Mayor, and Marie Yearman, City Clerk, be
and are hereby respectively authorized and directed to accept said pro-
posal and attest thereto on behalf of City of Elgin Special Service
Area Number 2; a copy of said proposal is attached hereto and made a
part hereof by reference.
s/ Richard L. Verbic
Richard L. Verbic, Mayor
Presented: May 24, 1978
Adopted: May 24, 1978
Vote: Yeas 6 Nays 1
Recorded:
Attest:
s/ Marie Yearman
Marie Yearman, City Clerk
. r
August 14, 1978
MEMORANDUM
TO: Leo I . Nelson, City Manager
FROM: James H. Bolerjack, Jr. , Finance Director
RE: Financing Civic Center Parking Lot and Refinancing South Grove
Property.
The financing for the Civic Center Lot and the South Grove Avenue
property should be undertaken very soon. Disbursements will be needed
for the parking lot and the interest rate for the South Grove Avenue
property is presently set at 8% with a final payment of $173,618.41
due in October, 1981. It would be economical and beneficial to the
City to combine these two projects into one larger issue of unsecured
General Obligation Notes. A maturity schedule is attached for ,your
consideration.
Civic Center Parking Lot
Engineering on the Civic Center Parking Lot is now complete. Accord-
ing to Carl Walker & Associates, Inc. the projected cost will be $134,873.
Although this cost is higher than originally estimated, it means that
the debt should be scheduled until 1986 rather than 1985. If Carl Walker
& Associates, Inc. original revenue projections were accurate, it also
means that the lot should be made to generate more revenue.
As I mentioned in my memorandum of March 22nd revenues could be increased,
if needed, by allowing employee parking permits on Monday thru Friday and not
be valid on Saturdays. This could be done in early 1979 with the following
projected results:
Annual adjust- 50 Annual
Carl Walker ment for 31 Employee Revenue for
Revenue Parking Mo. Permit 50 Total
Projections Meters Fee Rate Spaces Revenue
1st Year 40,946 1,554 50 @ $20 12,000 54,500
50 @ $25 15,000 57,500
50 @ $30 18,000 60,500
2nd Year 48,861 1,554 50 @ $20 12,000 62,415
50 @ $25 15,000 65,415
50 @ $30 18,000 68,415
3rd Year 56,730 1,554 40 @ $20 9,600 67,884
40 @ $25 12,000 70,284
40 @ $30 14,400 72,684
2.
The 3 year projected expenditures compared with revenues at the $25
per month rate would be as follows:
Operating Debt Total Expenditure Total
Period Costs Service Requirements Revenues Surplus
1978 $ 2,000 7,475 9,475 10,000 525
(4 mos. )
1979 41,000 17,150 58,150 57,500 (650)
1980 43,000 21,600 64,600 65,415 815
1981 45,000 20,775 65,775 70,284 4,509
$131,000 67,000 198,000 203,199 5,199
While the projected revenues and expenditures are very close in the
early years, it seems that Carl Walker & Associates, Inc. projections are
very conservative. If the Civic Center parking Lot is under-utilized to
the extent Carl Walker & Associates Inc. , projected, the City should take
immediate action by instituting the employee permit parking. The employee
permit parking should not be undertaken until after the 1978 Christmas
season. It may also be desirable to lease these spaces for only 11 months
since the lot would be better utilized in December. The number of spaces
and months leased would depend on how well the lot was used.
From the revenue projections by Carl Walker & Associates, Inc. and
myself the Civic Center Lot will finance the development and conversion
of the Civic Center Lot to an attendant operation. Payment for this develop-
ment could then be scheduled over several years with the debt retired from
the operation of this lot.
However, as I mentioned in my memo of March 22, 1978 general parking
meter fees should be increased to help replace the current revenue lost to
the parking system from this lot. It was recommended that prime meter loca-
tions should be 10¢ per hour with the other meter fees being 5it per hour.
This would be more compatable with the attendant fee structures of the Civic
Center Lot and the Plaza Parking Deck. It would also be a deterent to employee's
parking in prime parking spaces.
The net loss of revenue to the parking system from the Civic Center Lot
would be approximately $20,000 per year. The increase from the proposed meter
fee structure would be about $35,000 per year. The additional $15,000 per year
of net revenue would pay the one time cost for converting the meters, provide
monies for an adequate meter replacement program along with covering increased
operating costs as a result of inflation during the next few years.
With the parking fees remaining the same for over 30 years, it is easy to
understand the need for increased parking rates at this time. More details out-
lining the various areas and other changes will be made later in August. Many
3.
of the physical changes should not take place until the meters from the
Civic Center Lot are available. These newer style meters in the Civic
Center Parking Lot are less costly to make rate changes.
South Grove Avenue Property
By refinancing the debt for the South Grove Avenue Property at 5.5%
the City would save approximately $16,000 through October, 1981 which is
the current final payment date. This represents the difference between
the 8% currently being paid and a new rate of 5.5%. An extension of time
is also proposed to allow the City a more selective choice in finding a
buyer.
The only risk involved is a possible early payment penalty. In other
words, if the debt were paid off early because of the City selling the
property the following penalties could be incurred.
Before Debt Remaining % Penalty Amount
8/31/79 220,000 8 17,600
8/31/80 200,000 7 14,000
8/31/81 180,000 6 10,800
8/31/82 160,000 5 9,000
8/31/83 140,000 4 5,600
8/31/84 120,000 3 3,600
8/31/85 100,000 2 2,000
8/31/86 80,000 1 850
12/31/86 80,000 0 0
Therefore if the debt was called after August 1, 1980 the City would
still save money. However in addition to this the City can also invest the
money until payment is required which will mean additional investment earn-
ings of approximately $700 to $1,000 per year. Since the rental income
presently received barely exceeds the $2,706,20 per month paid, the present
investment opportunity is non-existent. The payment of interest and/or
principal twice each year means that rentals can be accumulated and invested
for extended periods of time.
RECOMMENDATION
To save money and provide for the conversion of the Civic Center Parking
Lot, it is recommended that proposals be solicited from the local banks for
this financing. The date for receiving the money and paying the existing debt
should take place on August 31, 1978.
•
COMBINED DEBT SCHEDULE
General Obligation Notes
Issued August 31, 1978
Principal Payments
on December 31 of
each year. South Grove Property Civic Center Parking Lot Combined Totals
Interest paid twice. Interest Interest Interest
Principal @5.5% Total Principal @5.5% Total Principal @5.5% Total
1978 $ 5,000 $ 4,125 $ 9,125 $ 5,000 $ 2,475 $ 7,475 $ 10,000 $ 6,600 $ 16,600
1979 20,000 12,100 32,100 10,000 7,150 17,150 30,000 19,250 49,250
1980 20,000 11,000 31,000 15,000 6,600 21,600 35,000 17,600 52,600
1981 20,000 9,900 29,900 15,000 5,775 20,775 35,000 15,675 50,675
1982 20,000 8,800 28,800 15,000 4,950 19,950 35,000 13,750 48,750
1983 20,000 7,700 27,700 15,000 4,125 19,125 35,000 11,825 46,825
1984 20,000 6,600 26,600 20,000 3,300 23,300 40,000 9,900 49,900
1985 20,000 5,500 25,500 20,000 2,200 22,200 40,000 7,700 47,700
1986 80,000 4,400 84,400 20,000 1,100 21,100 100,000 5,500 105,500
TOTALS $ 225,000 $ 70,125 $295,125 $135,000 $ 37,675 $172,675 $360,000 $107,800 $ 467,800
COMMITTEE OF THE WHOLE MEETING
July 6, 1977
The Committee of the Whole Meeting was called to order by City Manager, Leo
Nelson on Wednesday, July 6, 1977 at 7:00 P.M. , in the Council Conference Room
of City Hall. Members Present: Councilman Barnes, Beckmann, Gilliam, Hill,
Strattan, West and Mayor Verbic. Absent: None .
Also present were: City Manager, Leo Nelson; City Clerk, Marie Yearman; and
members of staff.
Proposed LDUT. Street Improvements .
The Council reviewed the State 's proposal to improve the following: Business
U.S. 20, Illinois 25 East to U.S. 20 Bypass - Resurfacing of the entire street
surface between the limits noted and some minor drainage improvements which
would include a couple of drainage structures and connecting storm sewers;
Business U.S. 20, Airlite Drive East to McLean Blvd. - The pavement will be
widened and resurfaced from the standard 20 feet to the standard 24 feet;
U.S. 20 By-Pass, McLean Blvd. East to Ludlow Place - The installation of a
barrier median within the stated limits, widening of the two exit ramps at
McLean to two lanes each, with the addition of traffic signals and there may
be some minor curb and gutter work on McLean as part of this work.
Leo Nelson advised the Council he would like more detailed plans to see if some
curb and gutter improvements could be included where needed. Councilman Barnes
asked if this meant they put in curbs. Mel Dahl stated it would only cover
minor drainage and resurfacing. Mr. Nelson stated he was only asking for the
Council's approval to send the letter back indicating approval and when they
meet with them the other problems could be pointed out. Mayor Verbic thought
it would be nice if the area on Larkin, especially in front of the Jewel-Osco,
could include curb and gutters. The Council agreed the proposals should be re-
turned to I.D.O.T. reflecting approval.
I.D.O.T. Safety Improvement - Dundee, Summit, Gifford.
The proposal consists of minimal roadway work, some curb and gutter, most of
it being at Gifford Street where it is proposed to make Gifford Street a right
turn only east bound on Summit. Vehicles would not be permitted to go north
from Gifford onto Dundee, nor would vehicles be permitted to go south on Gifford
from the intersection and a traffic signal modernization.
Leo Nelson did not feel that what they are proposing to do would interfere with
what is proposed for the North End Bridge. Mel Dahl thought the work would fit
in well with the work planned for the intersection. The Council approved this
proposal.
Century Oaks Sanitary Sewer Project.
The Council was advised there are 13 locations where the residents have filled
in the side drainage ditches. Mel Dahl stated the filled in ditches have been
graded so that the water either ponds or flows along the edge of the road sur-
face. So instead of the water flowing away from the pavement to the ditch the
water is flowing along the edge of the roadway.
July 6, 1977
Mr. Dahl proposed to rent a piece of equipment and an operator, at a cost of
about $1,200.00 to $1,600.00, to open and clean these ditches.
Councilman Barnes asked whose responsibility it was to maintain these ditches.
Leo Nelson stated it was the citys and he hoped the residents would want to
keep them clean. Mr. Dahl stated that each ditch would eventually have grass
in it and could be referred to a grassed waterways on each side of the road-
way.
The Council gave Mr. Dahl permission to proceed with this project.
River Bluff Street Lights .
Leo Nelson reminded the Council that several years ago the Council and Staff
met with residents on River Bluff Road and Brook Street regarding their old
ornamental street light system, which was not operating. At the same time the
City was checking cost figures for alternative systems, the City electrical
personnel repaired the existing system. Once the system was working the City
heard nothing further from the residents . The system has failed again and
should be abondoned because even if it was repaired, it would still be very
unsafe due to the deterioration of the entire system.
Mr. Nelson further stated the City had obtained 4 alternative systems and asked
if the Council would like to have these residents in to discuss the lighting.
Mayor Verbic stated he had received several calls and he was of the opinion the
residents wanted the City to furnish the system, so it might be best to have
them come in.
Councilman Barnes asked what the procedure was in any other neighborhood. Leo
Nelson stated the City has only replaced any that have been knocked down or
damaged and have never done an entire system.
The Council agreed to a meeting with the residents.
Senior Citizen Special Event Bus Charter Policy.
Ray Moller stated that in response to a number of senior citizen organizations
requesting transportation to attend social and recreational events in the City
during evening hours, the following policy was designed subject to the Council's
approval:
I. Such service would only be provided on weekdays after 6:00 P.M. and
on Saturdays after 5:00 P.M.
2. Those individuals utilizing such a service must be 65 years old or
older and be able to verify their age (RTA or VIP Card).
3. Those individuals utilizing the service must reside within the City
of Elgin.
4. The destination of any trip must be within a 5 mile limit of the
boundaries of Elgin.
elk 5. A maximum of 4 pick-up points within the City would be allowed.
July 6, 1977
6. A minimum of 20 passengers must be insured prior to the authorization
of service.
7. Arrangements for service must be made one week prior to the scheduled
date of the event.
8. Any bus utilized to provide such service must be returned to the bus
garage by 10:30 P.M.
9. Individual users of the service would be charged 1 senior citizen token
or 15c for each leg of the trip. (30c or 2 tokens for round trip) .
10. A maximum of 2 such special trips per month would be allowed.
11. A maximum of 2 buses per event would be made available.
12. Special transportation of the type described would be provided only
if vehicles and manpower were available.
13. Such transportation would be provided only on those days that the City's
regular transit system is in operation.
Councilwoman Strattan asked if there had been any survey of the new hours made
in Willow Lake Estates . Mr. Moller said there had been no survey made but he
did talk to the bus drivers in that area .
Leo Nelson stated a survey could be made giving them a choice of time. The
Council agreed that a survey should be made.
Service Adjustments on McLean Blvd. and North State Street Bus Routes.
Ray Moller pointed out the McLean route operates from 6:20 A.M. to 9:50 A.M. and
from 1:20 P.M. to 4:50 P.M. on weekdays during the school year. This level of
service is basically serving the students. McLean Blvd. is one of the heaviest
traveled streets in the City and has a mix of land uses adjacent to it, an ex-
pansion of the hours and period of service would increase the route's potential
for satisfying the travel needs of non-student trip takers.
Mr. Moller proposed running the McLean Bus from Robinwood Road to Forest back
down to McLean from 6:20 A.M. to 6:20 P.M. five days a week and from 7:20 to
5:20 on Saturday, which would provide better service to the Century Oaks West
area. The North State route hours could be changed to 10:15 A.M., 11:45 A.M.,
1:15 P.M., 3:15 P.M., and 5:15 P.M. five days a week, which would provide bet-
ter service to the Willow Lake Estates residents.
Mr. Moller stated he would like to implement these changes in September and
needed 45 days in which to obtain R.T.A. approval.
Councilwoman Strattan asked if a survey had been made in Willow Lake Estates.
Mr. Moller stated there had been no survey but he had spoken with the bus
drivers on that route. Mr. Nelson said they could run a survey, but when you
do this they say they will ride and then they don't but we could give them a
choice of times.
July 6, 1977
Councilman Hill pointed out the Willow Lake route makes a complete circle of
the area while the McLean route just skims Century Oaks and there is no attempt
to go through that subdivision, and he would like to see those people get bet-
ter service. Mr. Moller said he would look into this . Councilman Barnes stated
he did not believe there are a lot of bus riders out there. Councilman Hill
stated he had kids he wished could ride the bus instead of driving to school.
The Council did agree to have the proposal submitted to the R.T.A.
Agreement for Entrance Signs for City.
The Council reviewed a letter of agreement with Harry Wheeler for eight en-
trance signs for Elgin, designed as per scale model which is in the possession
of the Elgin Beautification Commission. The agreement called for a down pay-
ment of $7,700.00, an additional $7,700.00 upon photographic proof of comple-
tion of all 8 signs and the balance of $15,324.00 upon delivery of the signs .
Leo Nelson stated he was bothered when it came to paying out money with nothing
in return but understood that this firm was a small operation and probably did
need the initial down payment. Mr. Nelson said Mr. Wheeler was willing to de-
fer the second payment and have that amount included in the final payment.
Councilman Barnes asked if funds had to be committee for the initial payment.
Leo Nelson advised the Beautification Commission had commitments for 6 or 7 signs
and were sure of getting funds for the 8th sign. There are letters on file in-
dicating these pledges.
The Council approved having this matter placed on the Council agenda.
(7114 Proposed Parking Deck at Spring between Chicago and Highland.
The Council reviewed three letters which were addressed to the proposed parking
deck. Ruth C. Hawkins of 314 Plum Street, thought the Old Post Office site
should be used and thereby save a large bundle of money. Leo Nelson stated
this was impossible because the government grant of the land stipulated it
must be used as a park.
Robert Abate of the Elgin National Bank, wanted their property deleted because
they own and maintain a parking facility.
Robert Allanson, President of Wait-Ross-Allanson, stated he did not want to be
included in this service district because he maintained a lot which provided
34 parking spaces on visitations and 56 for funeral parking. Mr. Allanson
further felt parking in the downtown area, is a three way deal: City, because
they participate in "sales tax" dollars, Merchant, because of the service of
convenience to their customers and last to the persons using these parking
spaces.
Councilman Barnes asked if we were excluding residential property. Mr. Nelson
stated no, because they could change their use and would be excluded from the
district. Mr. Nelson also stated that Wait-Ross was the only one who merited
any consideration and the Advisory Committee were sympathetic to this. Mayor
Verbic said he would agree, he has provided parking space . Councilman Hill
stated he thought it would be better to expand the district rather than sub-
tract from it, pointing out that the financial institutions contribute to the
July 6, 1977
parking problems and even though they were included in the Mall District, this
District should include all financial institutions downtown.
Councilman Gilliam felt only the Elgin National Bank should be included, it is
unfair to tax again.
Councilman Barnes said he had the feeling there was an undercurrent of people
who are against it and maybe we will hear this at the Public Hearing.
The Council agreed to set the hearing for August 3rd as a public hearing date.
Councilmen Barnes, Strattan, West and Mayor Verbic agreed to exclude Wait-Ross-
Allanson and include the Elgin National Bank.
Elevator Inspection Program.
Leo Nelson informed the Council that this portion of the Code should either be
enforced or amended to delete the inspection. The main objection are establish-
ments who have an annual maintenance contract to conduct those inspections being
required to also pay the inspection fee for the city inspector.
Chief VanDeVoorde suggested that if the present city inspector is not retained
that someone in the Inspection Department be trained to do this. Mayor Verbic
recalled that St. Joseph Hospital complained because the inspector they had
pointed out different infractions than those of the city inspector. The Mayor
thought someone from the Fire Department should inspect.
Mr. Nelson stated that St. Joseph felt if they had a qualified maintenance
contract this should suffice and those who did not have this should have the
City do it.
Councilman Hill suggested the inspection program be continued, exempting those
with qualified service only as to fee. This would mean all elevators would
still be inspected without a double fee.
Councilwoman Strattan agreed with Councilman Hill but stipulated that should
an infraction be found then they should pay the fee.
Councilman West felt there should be some incentive so our inspector will not
find fault inorder to earn his fee.
Mr. Nelson stated the Council did not need to give an answer on this tonight.
The Council requested the Staff to prepare some policy and bring the matter back.
Proposed Plumbing Commission.
Several contractors appeared before the Council requesting the creation of a
plumbing commission. John Bero pointed out the City is currently operating
with a code that is now well over one year past due in revision and updating.
Such a commission would be of assistance dealing with water conservation and
solar heating problems . Mr. Bero suggest that Larry Heckman, who is the City
Plumbing Inspector, be appointed monitor of the Commission who would report to
the Council.
July 6, 1977
Councilman Gilliam asked how many members this Commission would require. Mr.
Bero replied 5 or 6 people from the trade and homeowners.
Councilman Beckmann thought by having experts in the field it might help the
Council to make decisions.
Councilman Barnes requested that they come in with a specific proposal.
Councilman Hill thought the Commission should be comprised of other than just
tradesmen, maybe 2 tradesmen, 2 city employees and 1 layman. Mr. Bero said
they had no objection to this and they would work with the City to bring back
a specific proposal.
Adjournment.
There being no further business to come before the Committee of the Whole,
the meeting was adjourned at 10:30 P.M.
Marie Yearma , City Clerk
C
r
rPublic Hearing
For Consideration of the Formation
of Special Service Area Number Two
August 3 , 1977
Mayor Verbic opened the public hearing at 8: 00 P.M.
Mayor Verbic stated, the public hearing is to consider the
formation of the City of Elgin Special Service Area Number
Two to provide off-street parking in the Central Business
District by the construction and operation of a multi - level
parking facility. A special tax will be considered not to
exceed an annual rate of $4 . 00 per $ 100.00 assessed valuation
to be levied against the properties in the Special Service
Area.
At the hearing all persons effected will be given the
opportunity to be heard. The hearing may be closed by the
corporate authorities without further notice to another
date by a motion to be entered upon the minutes of this
meeting , fixing the time and place of this adjournment .
In the event that a petition signed by at least 51% of the
electors residing in the special service area and by at
least 51% of the owners of record of the land included within
the boundaries of the proposed special service area is filed
with the City Clerk, within 30 days following the final
adjournment of the public hearing objecting to the creation
of the special service district for the levy or imposition
of the tax proposed , the district may not be created and
the tax may not be levied or imposed as proposed .
Leo Nelson stated , several weeks ago we had a meeting in
this room which was considered an informational meeting and
I believe that many of the people here tonight were perhaps
at that meeting. For those who were not we can briefly
summarize this project. There are several exhibits mounted
on the east wall and the proposed tax district is delineated
on the map that is referred to by Engineer Bob Hogue. That
is the district that was recommended by the Downtown Parking
and Traffic Advisory Committee.
The Downtown Parking and Traffic Advisory Committee is composed
of people who are either property owners or merchants in the
Central Business District . The Committee was formed several
years ago to assist the firm of Barton-Aschman in developing a
parking and traffic need study for the Central Business District .
That was recommended to the City Council in 1975 . Out of that
C plan a number one priority project is the project we are discussing
tonight and that is the multi - level parking structure proposed
for the area bounded by Highland and Chicago and immediately east
of Spring Street. It anticipates the acquisition of the Labor
Temple, the removal of that building from the site and a multi -
leval parking structure to be constructed between Highland and
and Chicago. It will include 350 parking spaces and about
15 ,000 square feet of commercial space along the first level
fronting on Spring Street .
The estimated cost of that project by Carl Walker and Associates
is $2, 155,000, the City ' s contribution to that project , in
addition to the property the City already owns would be $375 , 000 .
Mrs . Ruth Hawkins , owner of property at 21 North Grove, suggested
that the district boundaries be extended to include more
properties or that the old Post Office site be converted into
a parking lot . Mrs . Hawkins stated her taxes would increase
61% if the rate of $4 . 00 is imposed .
Leo Nelson stated , the $4.00 maximum rate was discussed at
the informational meeting as the maximum rate and that was
for the tax that would be needed to retire the debt during
the first year because the facility itself would not be
constructed and therefore would not be generating any revenue.
If the revenues are not generated as they are proposed the rate
could be higher . Based on the projected revenues that Carl
Walker and Associates developed , the tax rate would decline
any where from $2. 26 to a maximum of $3 . 39 per hundred in
the first year to 53C in the fifth year.
The Post Office property was deeded to the City so long as
the City continued to use that as open space or a park. That
would be one of the problems that would have to be overcome
to make what is now an attractive park area into a parking lot
and I think some people might even object to that . Nevertheless ,
we have the problem of the gift from the Federal government
but only so long as it is maintained as a park.
The reason the district was created the way it was , the
Committee that recommended the district felt that the properties
that are now included in a special assessment for the Fountain
Square Plaza Mall should not be included in this district and
if you will notice the boundaries on the southwest edge, it
intentionally excludes all properties that were included in
the special assessment project .
Mr . Pete Peterson stated , I do not believe that the maximum
rate would ever be lowered , prices are not coming down. Mr .
Nelson replied, we are talking about a special tax for this
facility only, you can not levy this tax for any other purpose.
Mr . Peterson stated, but you have to consider maintenance costs
and part of the maintenance costs are going to have to come
out of revenue.
I don ' t think there is any businessman who can predicate the
future of his business on this kind of a variable. If the
professional people in the City of Elgin were to say, well
if things work out alright fine, we will take the higher salary ,
but if things don ' t work out we will take the lower salary .
-2-
I don' t think you would predicate your salary on a variable
between a $ 1 . 10 and $4 .00 and we are having to predicate our
income on that same thing.
Mayor Verbic stated , for the survival of the Central Business
District and with the surveys that have been done in the past ,
everything indicates the need of additional parking in this
area and this is the most logical place to have the parking .
If we postpone the situation any longer costs will escalate
and I think we have to do everything we can for the survival
of the downtown district with the future that is facing us
as far as competition .
Harold Siegle stated, I feel we need this parking lot, its
very important to our City and downtown. I have reservations
about this parking lot and I note from the comments you fellows
have reservations too. I think that with all the shortcomings
concerning the Mall that I have talked about that all of us
here, property owners and all , feel an inequity on the taxation.
I think people adjacent to the Mall should pay a higher rate
than people on the perimeter of the Mall . In fairness I
think this is the way it should be assessed .
In looking over my criticism of the City , I think the need is
so great that we should support it , take our chances that the
$4.00 that you start with may go down to $ 1 .50. I think they
will produce revenue and lets all support this .
Mr. William Brandis stated, no one has spoken for the residential
property owners . I happen to own a piece of peoperty which
is in this area and I don ' t see the possibility of raising the
rent of my tenants enough to get it back. I do think the
residential properties should be excluded as well as the Elks
Club. I don ' t see the Elks Club benefiting in anyway.
I may be wrong in stating that I never saw a taxpayer ' s
organization run anything efficiently and I have a little
concern about the City running property for business purposes .
I think the government and the city own too much property today.
Leo Nelson stated , the Committee recommended we include in the
structure commercial space and we did not go into great detail
because we did not know if the project was going to happen . If
it does I think that we are all in agreement that the City does
not want to be in the business of directly leasing or operating
any private business . Our thought was to probably lease that
out in total to some other organization who would in turn manage
it in the private sector , not the public sector . Another option,
if it could legally be done, would be to sell it on a condominium
type basis .
-3-
• •.
The reason your property is included, even though it is
residentially used , it is commercially zoned. If it is
left out of the district , for example, if there is a home
within the district , zoned commercial , if it does not go
into the district now it cannot be put into the district
later . That property owner could potentially demolish the
structure and put it to commercial use. Then that person
would benefit from the project without paying.
Mr . Brandis stated, this is commercial property and I wanted
to put a commercial business in one section of it but the
Zoning Board said no, you have to have one or the other .
Mr . Frank Tofanelli stated, do you have any ideas about the
tax exempt properties that are in this district ?
Counsel Jentsch stated, if they qualify as a charitable
organization they may be. The City has no authority to
exempt any property. The taxes levied against all the real
estate in the district will be in the same manner as the taxes
are levied against real estate in the entire community.
Mr. Earl Keeney stated he felt the merchants in the Mall should
be included in the district because the Douglas Avenue merchants
might be taxed for a mini -mall .
Leo Nelson stated , assuming that this project goes and if
we in a year or two look at the Douglas Avenue Mall , I think
that is something that will have to be discussed concerning
the equity of your paying a tax to this facility and also paying
tax on a special assessment to extend the Mall .
Councilman Barnes stated, if the Douglas Avenue merchants
had gone ahead with the mini -mall then we would have had a
problem in deciding whether or not to exempt them, but in
a sense they voted themselves out, so maybe they voted themselves
into this issue.
Mr . Paul Zumkeller stated the deck would increase walking
traffic throughout the downtown area and traffic would be
improved with the proposed widening of Spring Street to
five lanes .
Mr. Frank Ciacco stated he did not think the district was
created fairly and he did not think the City should be
involved in private enterprise.
Councilman Hill made a motion, seconded by Councilman West ,
to close the public hearing . Yeas : Councilmen Barnes ,
Beckmann, Hill , Strattan, West and Mayor Verbic. Nays : None.
-4-
Marie Yearan City Clerk
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Certificate of Publication in the DAILY COURIER-NEI-VS EXHIBIT 1
----=--
7-15
NOTICE OFHEARLNG •;OF ILLINOIS
IN
CITY OF ELGSPECIAL SERVICE AREA NUMBER TWO ,p itUNiH lV
NOTICE IS HEREBY GWEN that on August'3,1977,at 00 P.M.
Council Chambers of the Municipal Building,150 Dexter Court,Elgin, t',
a hearing will be held by the corporate authorities of the City of Elgin to' ?' OPLEY PRESS, INC., DOES HI R FBS' CERTIFY
I sider forming a special service area consisting of the following dere , fl
territory: `'.:i.t it is a corporation duly organized and existing under the laws of the State of
PARCEL
That part of the Northeast quarter of Section 14,Township 41 NortlllRange 8,
East,in Elgin Township,Kane County,Dlhnols,described as follows:, .
All of Block 2 of S.N.Dexter's Addition,Lot 316 the County Clerk's t it is the publisher of the Daily Courier-News, a secular daily newspaper printed
division,and all of Towner and Wetmore's Subdivision;also ''ished in the City of Elgin, in Kane County, Illinois, and of general circulation
• All of Block 17 of James T.Gifford's Plat,and Lot 317 of the County Clerk's`ity, County and State; and in Mc Henry enry County and portions of Cook and
Subdivision;also 'Counties and in other Cities in Kane County; and that it is a newspaper as defined
All of Block 20 of James T.Gifford's Plat,and all of the Assessor's Sub- ,
I division of Lot 6 of Block 26 of James T.Gifford's Plat;also •,ct to Revise the Law in Relation to \otices"—Ill. Revised Statutes, Chap. 100,
All of Block 19 of James T.Gifford's Plat;also ^, 5 and 10.
! All of Block 16 of James T.Gifford's Plat,and Lot 318 of the County Clerk's
Subdivision. a notice of which the annexed is a true copy has been regularly published in
I And that
PARC
part of the Southeast quarter of Section 14,Township 41 North, Paper Q.i1t3. time each XX.XXX,X
I Range 8 East,in Elgin Township,Kane County,Illinois,described as follows: for
Lots 1,2,3,and 4 of Block 15 of James T.Gifford's Plat,and ....Z=1C.XX successive XXX XXX ; that the first publi-
Lot 319 of the County Clerk's Subdivision.
PARCEL tundthatp ;aid notice was on the .15th. day the Jul
And that part of the Northeast quarter of Section 13,Township 41 North, of197.x..•,
Range 8 East,in Elgin Township,Kane County,Illinois,described as follows: st publication thereof was on the 15th day of .. Jul 7
All of Block 3 of S.N.Dexter's Addition;also , 1971 ,
All ofBlock 9ofJamesT.Gifford's Plat;also ; ace of type in which each publication of said notice was printed was the same
All otBlock lOofJames t.Gifford's Plat;also ' y of type used in the classified advertising in the newspaper in which said pub-
All of Block 7 of James T.Gifford's Plat. • s made;
PARCEL IV . -
And that Dart of the SowlnvestKane rofSECTION 13,cribedTownship 41North, ,aid the Daily Courier-News has beer, regularly published in said City, County
Range 8 East,In Elgin Township,Kane County,Illinois,described as follows:
/All of Block 11 of James T.Gifford'sPlat,including the adjoining C.&N.W. for at least one year prior to the first publication of said notice.
R.R.R.O.W.;also 'ITNESS WHEREOF, said The Copley Press, Inc., publisher as aforesaid,
All of Block 6 of James T.Gifford's Plat;also
All of Block i'2 of James T.Gifford's Plat,including the adjoining C.&N.W. :ed this Certificate of Publication by its Officer or Agent thereunto duly
R.R.R.O.W.
The approximate street location is the area bounded by Dexter Avenue this 19.ttiay of .. .July 197?...
between Douglas Avenue and Center Street;Center Street between Dexter
Avenue and Highland Avenue;Highland Avenue between Center Street and: -
Geneva Street;Geneva Street between Highland-Avenue and DuPage Street; THE 1CO LEY POE 'I'
DuPage Street between Geneva Street and Villa Street;Villa Street between i • _ 4
DuPage Street and Fulton Street;Fulton Street between Villa Street and South
Spring Street to the right of way line of the Chicago and North Western By •,1"i..1:, \ ' 1....A t
Railroad;then west along the alley running from Spring Street to the westerly • _)
line of Lot 4 in Block 15 of J.T.Gifford's Plat;then north to Chicago Street;
Chicago Street between the westerly line of Lot 4 in Block 15 of J.T.Gifford's ...BUS 1 L1@ S.,g,...Mgr.,..
Plat and Riverside Drive; Riverside Drive between Chicago.Street and
Highland Avenue; Highland Avenue between Riverside Drive and Douglas.' e $ 5.3.55. Paid , 19
Avenue; Douglas Avenue between Highland Avenue and Dexter Court, as'
shown on the attached map. ,
All interested persons affected by the formation of proposed City of-Elgin
j-Special;Service Area Number 2 will be given an opportunity to be heard Folio 16.5
regarding the formation of and the boundaries of the special service Brea
herein proposed and may object to the formation of the area and the levy of
taxes affecting said area.
The purpose of the formation of City of Elgin Special Service Area Number2,
in general,is to provide-off street parking In the central business district by the
construction and operation of a multi-level parking facility.
A special tax will be considered at the public hearing not to exceed an annual
rate of 54,00 per$100.00 of assessed evaluation, as equalized,to be levied
against the property included in the special service area.
At the hearing,all persons affected will be given an opportunity to be heard.
The hearing may be adjourned by the corporate authorities without further
notice to another date by motion to be entered upon the minutes of its meeting .
fixing the time and place of its adjournment,
In the event that a petition signed by at least 51%of the electors residing
within the special service area and by at least 51%of the owners of record of
the land includedgithin the boundaries of the proposed special service area is
filed widt the City Clerk within 30 days following the final adjournment of the
public hearing objecting to the creation of the special service district or the '
levy or imposition of the tax proposed,the district may not be created and the'I
tax may not be levied or imposed as proposed,
Dated this loth day of July,1977.
MARIE YEARMAN
City Clerk
Excerpts from proceedings of the Board of Directors of
The Copley Press, Inc., an Illinois corporation, at a meet-
Gen. NO. ing of said Board held on April 1, 1975, at which a
quorum was present.
The following resolution was adopted.
Resolved: That Certificates of Publication of legal
notices, in accordance with the Illinois Revised Statutes,
published in The Beacon-News at Aurora, Illinois; The
(nrr+iftratr .uf Daily Courier-News at Elgin, Illinois; the Herald-News
at Joliet, Illinois; The Daily Journal & The Sunday
Journal at Wheaton, Illinois; The State Journal Register
IN at Springfield, Illinois; the Addison News-Bulletin at
Addison, Illinois; the Algonquin Township Life at
DAILY COURIER-NEWS Algonquin, Illinois; the Bensenville Banner at Bensenville,
Illinois; the Itasca Record at Itasca, Illinois; the
ELGIN, ILLINOIS Carpentersville Star at Carpentersville, Illinois; the
Cary-Grove News of Cary-Grove, Illinois; Dundee
Review & town n country Highlander at Dundee, Illinois;
Fox Valley World at Elgin, Illinois; McHenry County
World of McHenry County, Illinois; Hoffman Estates
Record of Hoffman Estates, Illinois; Lake Zurich Press
of Lake Zurich, Illinois; Roselle Record of Roselle,
Illinois; Schaumburg Record of Schaumburg, Illinois;
Hanover Township Times & The Advertiser of Hanover
Park, Illinois; The World of Will--Cook, The World
of Tri-County, The World of Northern Will, all of Joliet,
Illinois; may be signed on behalf of this Corporation and
its Corporate Name and such Certificates may be certified
by any of the duly elected officers of this Corporation
or by any of the business managers, comptrollers, or
auditors of any such newspapers, and that a copy of this
Resolution, duly certified by the Secretary or an Assistant
;Secretary, shall be printed upon all Certificates of
Publication of legal notices published by said newspapers,
and shall be evidence of the authority of the officer or
agent signing for and in behalf of the Corporation.
The undersigned officer of The Copley Press, Inc., a
corporation of the State of Illinois, does hereby certify
that the foregoing is a full and true copy of a resolution
adopted by the Board of Directors of said Corporation
by unanimous action taken on April 1, 1975, and the
same remains in full force and effect not having been
revoked,cancelled or amended.
Given under my hand and the seal of the Corporation,
this 19titl day f JUly , 19 77
ASSISTANT SECR ARY
SPECIAL SERVICE AREA
NUMBER 2 ADDRESS
LIST-1976*
13-154-001 "/St. John's Lutheran Church
/ 115 N. Spring, Elgin
002 V St. John's Evangelical Lutheran Society +
Frank H. Volstorff
17 N. Grove, Elgin
003 St. John's Lutheran Church +
115 N. Spring, Elgin
004 William Brandes
%Union National Bank and Trust
1 Fountain Square Plaza, Elgin
005 St. John's Lutheran Church +
115 N. Spring, Elgin
006 St. John's Lutheran Church +
115 N. Spring, Elgin
007 /Gordon Q. Vancil
101 N. Spring, Elgin
013 ✓First National Bank
Trust No. 2385
6 S. Grove, Elgin
014 First National Bank,Trust No. 2385
• 6 S. Grove, Elgin
015 ye Saint Paul's Church +
220 Division, Elgin
016 Saint Paul's Church +
220 Division, Elgin
•
• 13-157-001 /,City of Elgin +
002 / First Methodist Church +
216 E. Highland, Elgin
13-159-001 ✓ Building Association
19 N. Spring, Elgin
002 City of Elgin +
003 City of Elgin +
004 ✓ Elgin Loan and Homestead Association
Home Federal Saving and Loan
16 N. Spring, Elgin
005 / Episcopal Church of the Redeemer +
40 Center, Elgin
/Home
006 Federal Savings and Loan
16 N. Spring, Elgin
007 City of Elgin +
008City of Elgin +
009 J Delwin and Jeanne Neil
216 E. Chicago, Elgin
010 Delwin and Jeanne Neil
/ 216 E. Chicago, Elgin
011 d Y.M.C.A. Association +
* Taxes Paid in 1977 For The Year 1976
+ Tax Exempt
I
13-159-012 Y.M.C.A. Association +
220 E. Chicago, Elgin
13-160-001 / German Evangelical Church +
United Methodist Church
19 Center St., Elgin
002 ✓ First Evangelical Church +
19 Center, Elgin
003 ,/Michael Cheperka
799 Diane, Elgin
004 City of Elgin +
005 City of Elgin +
006 v/First Congregational Church +
256 E. Chicago, Elgin
007 //Calvary Baptist Church +
270 E. Chicago, Elgin
008 Calvary Baptist Church +
270 E. Chicago, Elgin
13-301-001 ✓ James and Gladys Ozment
18 Lord St. , Elgin
002 / Dale and LaVerne Boose
21 S. Spring, Elgin
13-302-001 / Kerry Witt
118 S. 7th St.
Dundee, Il., 60118
002 Kerry Witt
118 S. 7th St.
Dundee, I1. 60118
003 Lora Siegle and Lillian Roth
222 Douglas, Elgin
004 y/ David R. Buhrow and Larry I. Prescott
205 E. Chicago, Elgin
005 Franklin Kramer
Rt. 1, Box 156-A
: / Parsons, Tenn. 38363
006 Edwin and George Groh
1124 Duncan, Elgin
007 V Edwin and Ellen Groh
1124 Duncan, Elgin
008 / aures Kiriaki Toufexis
217 E. Chicago, Elgin
009 Gani and Chrysanthi Sakolari
219 E. Chicago, Elgin
010 4//First National Bank
Trust No. 3013
%Willard Land Company
P.O. Box 785, Elgin
- 2 -
13-302-011 ✓ A.G. and F.G. Ruffie
%Anthony Ruffie
620 Center, Elgin
012 Y.W.C.A. +
220 E. Chicago, Elgin
013 J Elgin National Bank
Trust No. 908
24 E. Chicago, Elgin
014 .‘//George and Ann Zwicky
363 Oriole
Crystal Lake, I1. 60014
015 Elgin Elks Home Association
18 Villa Court, Elgin
13-303-001 /Illinois Bell Telephone
225 W. Randolph
Chicago, I1.
002 Elgin National Bank
Trust No. 217
%Gunner Carlson
273 E. Chicago, Elgin
003 Elgin National Bank
Trust No. 217
/Arthur
%Gunner Carlson
273 E. Chicago, Elgin
004 and Marge Cowell
1544 Maple Lane, Elgin
005 Illinois Bell Telephone
225 W. Randolph
Chicago, Il.
006 Illinois Bell Telephone
225 W. Randolph
Chicago, I1.
007 Illinois Bell Telephone
225 W. Randolph
Chicago, I1.
008 Illinois Bell Telephone
225 W. Randolph
Chicago, I1.
13-305-001 Gilbert Real Estate Trust
356 N. Spring, Elgin
13-306-001 /Elgin Elks Home Co.
18 Villa Court, Elgin
002 ✓Leath Realty
7111 N. Lincoln Ave.
Chicago, Il.
004 vi Central National Bank
Trust No. 18699
120 S. LaSalle
Chicago, Ii. 60603
006 City of Elgin +
007 City of Elgin +
- 3 -
13-502-011 /. and N.W. Railroad Company +
400 West Madison
Chicago, I1. 60606
012 C. and N.W. Railroad Company +
400 West Madison
Chicago, I1. 60606
013 C. and N.W. Railroad Company +
400 West Madison
Chicago, Il. 60606
014 C. and N.W. Railroad Company +
14-279-001 /First National Bank of Elgin
/ 6 S. Grove, Elgin
002 ✓ Ackemann Brothers
168 E. Highland Ave. , Elgin
003 Ackemann Brothers
168 E. Highland Ave. , Elgin
/
004 ✓ Paul Born and Paul F. Born III
500 Glenwood Trail, Elgin
007 /Nom Chang *y
111 Douglas, Elgin
008 ✓H..a.rry Siegle and Jerome Roth
222 Douglas, Elgin
009 V Douglas-Division Building Corporation
222 Douglas, Elgin
010 Furry Siegle and Jerome Roth
222 Douglas, Elgin
011 Ackemann Brothers
168 E. Highland Ave. , Elgin
012 /Mary Mulliken
Rt. 1. 106 Shagbark Rd. , Elgin
013 Paul Born Jr. and Paul F. Born III
500 Glenwood Trail, Elgin
14-280-001 /Ben Corn
1011 N. Spring, Elgin
002 Chicago Title and Trust
Trust No. 43948
Martin Krasnick, Evelyn Kapiar, Sibyl
521 Wing Park Blvd., Elgin
14-281-001 Ackemann Brothers
168 E. Highland, Elgin
002 ,Bernice Creedon et al
55 Center, Elgin
003 Bernice Creedon et al
•
55 Center, Elgin
004 Ackemann Brothers
168 E. Highland, Elgin
- 4- -
14-281-005 Ackemann Brothers
168 E. Highland, Elgin
006 Ackemann Brothers
168 E. Highland, Elgin
007 Ackemann Brothers
168 E. Highland, Elgin
14-282-004 V//First Federal Savings and Loan
005 / 28 N. Grove, Elgin
/
Clifford Juby
370 N. Silverbell Road
Tucson, Az. 85705
006 V Richard and Sharon Pierce
250 S. Grove, Elgin
007 /Elgin National Bank
008 ✓ 24 E. Chicago, Elgin
Elgin National Building Corporation
24 E. Chicago, Elgin
009 Elgin National Bank
/Elgin
E. Chicago, Elgin
010 ✓ Elgin National Bank Trust No. 987
24 E. Chicago, Elgin
011 Elgin National Bank
24 E. Chicago, Elgin
14-283-001 ✓ Frank Ciacco
/ R.R. 1, Box 129, Elgin
✓
002 Oak Park National Bank
Trust No. 9 791
003 / 2538 S. Wentworth Ave., Chicago, I1. 60616
Ruth Hawkins
314 Plum, Elgin
004 Frank Ciacco
R.R. 1, Box 129, Elgin
005 Frank Ciacco
R.R. 1, Box 129, Elgin
006 ‘/John and William Stickling
Elgin National Bank
13 N. Grove, Elgin
007 v'Alta Stickling
%John and William Stickling
Elgin National Bank
24 E. Chicago St. , Elgin
008 Alta Stickling
%John and William Stickling
Elgin National Bank
/ 24 E. Chicago, Elgin
012 \./ Charles and Patricia Hine, Jr.
20 Douglas, Elgin
013 V L.S. Raushert and D.L. Kubiak
18 Douglas, Elgin
- 5 -
14-283-014 Anthony Wbite
524 N. Clifton, Elgin
015 V Elgin National Bank
Trust No. 889
24 E. Chicago, Elgin
016 i Union National Bank
Trust No. 815
%Herbert and Mary Daniels
� / 1 S. Grove, Elgin
017 V Franklin J. Kramer
Rt. 1, Box 156-A
Parsons, Tenn. 38363
018 )///James R. and Ruth Williams
%First National Bank of Elgin
Trust No. 2988
6 F.S.:p., Elgin
14-284-002 /Rosefla Menke
1062 Lakewood Road, Elgin
003 '/ Keeney's Sporting Goods
19 Douglas, Elgin
004 ✓ Oak Crest Residence Association
204 S. State, Elgin
007 V Lawyers Building Incorporated
5 Douglas Ave. , Elgin
008 / Union National Bank
Trust No. 598
1 S. Grove, Elgin
009 Union National Bank
Trust No. 598
1 S. Grove, Elgin
010 Elgin National Bank
Trust No. 994
24 E. Chicago, Elgin
011 1// George and Sadie Lascoe
33 N. Jane, Elgin
012 ✓ Gilbert Real Estate Trust
%Frank Fuller
356 N. Spring, Elgin
013 Union National Bank
Trust No. 815
1 S. Grove, Elgin
/ Leath
014 Realty Company
7111 N. Lincoln
Chicago, I1. 60646
. ,/ A1TN: A.J. Powell
015 ' Catherine Harwood
1300 Larkin Ave. , Elgin
016 ✓Carl Lindoefer and Ben G. Corn
55 Douglas, Elgin
- 6 -
14-284-017 ,Union National Bank
Trust No. 889
018 V 1 S. Grove, Elgin
Peggy Harris
1100 N. Spring St. , Elgin
14-285-001 V William Fishburn
` / 165 E. Highland Ave. , Elgin
008 . V Elgin Federal
176 E. Chicago, Elgin
012 Home Federal Savings and Loan
16 N. Spring, Elgin
14-434-002 /Union National Building Corporation
V/ 1 F.S.P. , Elgin
003Robert Schneff
2461 Highland Ave., Elgin
004 Gilbert Real Estate Trust
%Frank Fuller
356 N. Spring, Elgin
005 V Jack and Sylvia Lisagor
102 N. Jane Dr., Elgin
006 Jack and Sylvia Lisagor
102 N. Jane Dr.,Elgin
007 First National Bank of Elgin Mortgage
/ 6 S. Grove, Elgin
008 t./Union National Bank and Trust
1 F.S.P. , Elgin
009 Union National Bank and Trust
1 Fountain Square Plaza, Elgin
010 Union National Bank and Trust
1 Fountain Square Plaza, Elgin
018 Union National Bank and Trust
1 Fountain Square Plaza, Elgin
019 City of Elgin +
14-502-003 ' C. and N.W. Railroad Company +
• 400 West Madison
Chicago, I1. 60606
- 7 -
EXHIBIT 2
AFFIDAVIT OF SERVICE
State of Illinois )
Counties of Cook and Kane ) SS .
City of Elgin )
Marie Yearman , being first duly sworn on oath ,
deposes and says that she is the City Clerk of the City
of Elgin , Illinois , and that she has served a copy of
an Ordinance proposing establishment of a Special Service
Area in the City of Elgin and providing for a Public
Hearing to the property owners of record in Special Service
Area Number Two by mailing a copy of said Ordinance certified
mail to each property owner on the 22nd day of July, 1977 ,
mailed at the United States Post Office, Elgin , Illinois .
Marie Yec man
Subscribed and sworn to before
me this 9,f,) day of-2y.,J4_,Ls
1977 .
. �X� 9.��J :� \ J
Notary Public
July 7, 1977
MEMORANDUM
TO: Marie Yearman
City Clerk
FROM: Erwin W. Jentsch
Corporation Counsel
SUBJECT: Special Service Area Number 2
The City Council is expected to pass an ordinance establishing a public
hearing date for consideration of the formation of Special Service Area
Number 2 at its meeting on July 13, 1977. By law notice by publication
of the hearing must be given not less than fifteen days prior to the
hearing, or by July 18, 1977.
The form of the notice is included in the ordinance. The lengthy legal
description requires that the Courier News be given as much notice as
possible. Therefore, I suggest that you provide the paper with a
copy of the proposed notice as soon as possible and then confirm the
publication order on July 14, 1977.
In addition to the notice by publication, notice must be given by mailing
to those persons who pay the taxes on the property within the special
service area. The Department of Community Development is preparing a
list of such persons which I shall furnish to you upon receipt and review
of it. Notices must be mailed no later than July 22, 1977. You should
maintain a record of those persons to whom notices were sent.
TELEPHUNt iIc/occ-Days,
4
at.Of f[
�t, 0okic.ki1.`= t 150 DEXTER COURT ELGIN , ILLINOIS 60120
PoN•iiB9 tt
e`
July 11 , 1977
Mrs . Grace Hornish
Elgin Daily Courier-News
76 South Grove Avenue
Elgin , Illinois 60120
Dear Grace:
In accordance with our telephone conversation of
today , I enclose herewith Notice of Hearing on August 3 , 1977,
for a Special Service Area Number Two. By law notice by
publication of the hearing must be given not less than
fifteen days prior to the hearing, or by July 18 , 1977 .
The ordinance creating the hearing will be
before the Elgin City Council for passage on Wednesday,
July 13 , 1977 . I thought that by giving you the publication
material now it might help to meet the deadline. I will
call you Thursday , July 14th and confirm that the ordinance
did pass and it will be in order to make publication.
Thank you for your assistance in this matter.
Sincerely,
Marie Yearman, City Clerk
PROPERTY TAX INFORMATION
PROPOSED CHICAGO AND SPRING ST. PARKING FACILITY
The special service district established by the Elgin City Council
for the proposed parking deck had a 1976 real estate assessed valuation
of $4,387,580. With the expansion by Home Federal Savings and the improve-
ment of otic r properties within the district, the assessed valuation should
continue to increase, resulting in even lower tax rates than those projected
below.
A feasibility study was prepared by John Holm of Carl Walker & Associates
which projected revenues and expenses for the construction and operation of
this new parking facility. Since the completion of the study, the City Council
decided to contribute $375,000 to the project in addition to the existing park-
ing lot or over 1/3 of the project cost of $2,155,000.
To keep the tax rate down, timing becomes very important as to when the
bonds are authorized and how the bonds are scheduled as well as when the facility
is open for business. According to Carl Walker & Associates there will be no
revenue generated by the parking facility for seven to ten months after construct-
ion is started, the first years taxes will only be for debt. Subsequent years
would realize operating revenues so the support requirements are drastically
reduced as projected below:
Tax
Levy Year Projected
Year Payable Tax Rates Reason
1977 1978 $2.264 to $3. 395* Debt only 1978
1978 1979 1. 108 1979 Losses**
1979 1980 .822 1980 Losses**
1980 1981 .679 1981 Losses**
1981 1982 .535 1982 Losses**
* Each month past July 1, 1977 that the bonds are issued will reduce this
upper rate.
** This is the net of debt cost and net revenue projected by Carl Walker
& Associates.
The above rates should provide a reasonable cash flow to protect the
bond holders as well as the City and those in the special service district
who may make future improvements to their property. Even if the parking
facility is completed by November, 1978, the District would have to provide
the debt interest due on 1/1/78, 7/1/78 and 1/1/79 with very little revenue.
These payments would be approximately $49,100 each or $98,200 to $147,300.
If the facility is not open and rented until a later time, the District may
also have to provide some money for an interest payment of $49,100 due on
7/1/79.
Eventually this parking facility should pay its own way, but until
the debt is retired, it will be a difficult task with the low "shoppers
rates" . In any case it is a necessary project to help maintain and increase
the vitality of downtown Elgin.