Dear Members:

 

Thanks in no small part to a huge generator hooked up by the Public Works Department, the City of Elmhurst was able to conduct its Joint Review Board (JRB) meeting for the proposed Tax Increment Financing (TIF) District along North York Street (TIF 4) at Elmhurst City Hall on July 2.

 

The meeting include an introduction of the JRB representatives, selection of a public member and selection of a Chairperson.  The JRB also will review its procedures and duties, the North York Street TIF plan and TIF 4 eligibility criteria, and draft of the related TIF ordinances.

 

Comprised of representatives for the local tax bodies—Jim Collins, President of the Elmhurst Public School District 205 Board of Education, and Jim Rogers, Executive Director of the Elmhurst Park District, among them—the JRB will provide TIF oversight and report annually at a public meeting.

 

Elmhurst resident Kurt Warnke, a commercial real estate expert and Chair of the Elmhurst Economic Development Commission (EEDC), was approved as the public member.  Warnke has worked as a Transaction Manager for financial and professional services firm Jones Lang LaSalle in Chicago since 2006.

 

City representative Steve Morley, Sixth Ward Alderman and Chair of the City Council’s Development, Planning and Zoning (DPZ) Committee, was elected to chair JRB No. 4.

 

JRBs serving TIF 1 (downtown Elmhurst), TIF 2 (Lake and Walnut streets) and TIF 3 (Route 83 and St. Charles Road) last meet publicly at City Hall on December 12, 2011.

TIF 1 assisted in the initial redevelopment of the York Theatre in the late 1980s.  In TIF 2, multiple parcels were amassed leading to new construction projects by Suburban Bank & Trust, SpringHill Suites by Marriott and Elmhurst Toyota.  TIF 3 brought about redevelopment of the shopping center now known as Elmhurst Crossing.

 

A City Council vote on establishing a North York TIF is now on schedule for August 6.

As proposed, TIF 4 includes redevelopment of the former Elmhurst Ford dealership into a Mariano’s Fresh Market, which is expected to open in April of 2013.

 

TIF is a public financing method that municipalities can use to subsidize redevelopment, infrastructure and other community-improvement projects in districts that are deemed “blighted” based on age/use/condition of buildings and facilities, and other criteria.

 

In a TIF, the assessed valuation of each property is frozen at its current level for all taxing bodies.  As development and redevelopment increases assessed valuation for one or all, the TIF captures the incremental increase in property taxes above the frozen base.

 

 TIF funds can be used to buy land, site development, utility improvements, building demolition, environment clean-up, road access/egress, training and more.

 

Got It! in Elmhurst Street Map

The Chamber last week direct mailed “Got It in Elmhurst” Street Maps to more than 19,200 residential and business addresses in Elmhurst using the U.S. Postal Service’s new Every Door Direct Mail (EDDM) Program.  The biennial map was produced in partnership with Desert Rose Design and Castco Communications.

 

Happy Anniversary

Three members are celebrating Chamber anniversaries in June, as follows:  15 years—Vital Signs USA; 10 years—Chicago Records Management; and 5 years—Illinois Spinal Care of Elmhurst.

 

New Members

The Chamber welcomed seven new members during June, as follows (in alphabetical order):  Aura Real Estate & Management, FITT-RX, Flexeon Rehabilitation, New York Life Insurance Company, Pinstripes, Quality Printing and Wize Tax & Accounting.

 

Members No More

The Chamber said goodbye in June to the following businesses:  Always Best Care DuPage, Belden Energy Solutions, Canteen vending & Office Coffee Service, Continental Barbers & Jeannie’s Hair Salon, Elmhurst Animal Care Center, Electronic Specialty Design, L.W. Reedy (Bill Rohn), Law Offices of Mary Mazurk, NAI Hiffman, Property Tax Reduction, Seven Hill Group, State Senator Carole Pankau and Winning Systems.

 

Congratulations to…

Jim Doyle of Elmhurst Memorial Healthcare on his selection to the Daily Herald Business Ledger’s inaugural CFO of the Year Awrds class, as nominated by yours truly.  The awards banquet will be held at Danada House in Wheaton on July 19.

 

Russ Caforio of Russell F. Caforio & Associates, whose son, Jon Caforio of McGladrey, was featured among the Top 25 Consultants for 2012 in the May issue of Consulting Magazine.  Jon is an Elmhurst resident and graduate of Elmhurst College.

 

Todd Benson of Castco Communications on his appointment by DuPage County Board Chair Dan Cronin to the DuPage County Ethics Commission as a Democratic rep.

 

Karen Lee of Total Window Treatments for her work with 2011 HGTV Design Star winner Meg Caswell on the “Megs Great Rooms” episode that aired on June 16.

 

Social Media

If you haven’t already, please follow the Chamber via our social media pages as a Facebook friend, Twitter follower and Linked-In contact.