Dear Members:

 

As you read this, the Thorne Building on Addison Avenue in downtown Elmhurst and the Elmhurst Ford building on North York Road are being demolished to make way for new and exciting developments…or should I say redevelopments.

 

The Addison LLC project is a public/private partnership between the City of Elmhurst and a development group to replace the old medical/commercial office building with a modern mixed-use structure comprised of first-floor retail space, multiple floors of office space and parking deck.

 

The Elmhurst City Council and developer are still discussing the pros and cons of allowing the development to build above the City’s ordinance maximum of four stories (45 feet), which would lower the cost per square foot for construction.

 

The Addison project is the latest in a long and successful line of Tax Increment Financing (TIF) redevelopments that have literally change the landscape of downtown Elmhurst (TIF 1) over the past quarter of a century.

 

Mariano’s Fresh Market is clearing off the Elmhurst Ford site to make way for its new grocery store, which is expected to open for business in the spring.

 

As the first project within the new North York Street TIF, Mariano’s Fresh Market will receive $1.25M of  TIF 4 funds in assistance through a Redevelopment Agreement with the City, as approved at the September 4 City Council meeting.

 

Elmhurst is forecasting to recoup its Mariano’s investment in the first 10 years of the TIF’s 23-year lifespan based on property tax only and in only three years based on the combination of property tax and retail sales tax.

 

City officials continue to negotiate with the impacted taxing bodies, in hopes of “making them whole” in regards to new TIF-generated property tax dollars.  For example, the City has offered School District 205 up to $6 million for capital improvements at Churchville Middle School and Conrad Fischer Elementary School, both of which are in TIF 4, $1 million in cash reserves to be released from TIF 2, and 10% of the property tax increment generated in TIF 4 after the first 10 years.

 

Sen. Cullerton at College

Illinois Senate President John J. Cullerton will speak on “Democracy and the Upcoming Elections” in the Founders Lounge of the Frick Center at Elmhurst College on Tuesday, October 2, at 12 noon.  The event is free and open to the public.

 

York & Vallette Fall Fest

The York & Vallette Business Association, Elmhurst Park District and Chamber are teaming up again to stage Fall Fest at the Depot on Saturday, October 13, from 10 a.m. to 2 p.m.  Event sponsors include US Bank, PNC and Koenig & Strey.

 

Look me for to be handing out Got It! in Elmhurst flying discs and eco-friendly totes, as I did at Spring Road Day on September 15

 

Happy Anniversary

Three members are celebrating Chamber anniversaries in September, as follows:  20 years—Ed Napelton Elmhurst Imports-Acura/Kia; and 10 years—Elmhurst Masonic Lodge #941 and Elmhurst Model Railroad Club.

 

New Members

The Chamber welcomed nine new members during September, as follows (in alphabetical order):  The Amicus Companies LLC, Choice Office Equipment and Supplies, Informative Screening Solutions, Inc., New Life Meditation, Oak Brook Real Estate Group, State Farm Insurance Recruiting-Cornwell, Sweeter Taste of Life Coffee, VIP Taxes & Accouting, Inc., and W. Lloyd Christoph & Associates LTD.

 

Reactivated Members

The Chamber welcomed back two reactivated members during September, as follows:  CyberOptikWeb Developmentand Sun Times Media.

 

Members No More

The Chamber said goodbye in August to the following 11 businesses: Ankle & Foot Center of Elmhurst, Curves-South Elmhurst, Elmhurst Photo Boutique, Elm Chiropractic Fitness Clinic, Guaranteed Rate, Essential Skin & Beauty, Heavenly Cupcake Shop, The Golf Better Studio, Elite Chimney & Masonry, Subway and The Bleeding Heart Bakery.

 

Congratulations to…

Dare Messina of L.W. Reedy Real Estate and Anne Quigley of Pure Harmony Wellness Group, who will be installed as President and President Elect, respectively, of the Kiwanis Club of Elmhurst at the service club’s Annual Installation Dinner at Angelo’s Ristorante on Tuesday, October 2.

 

Lexington Square of Elmhurst and Mostardi-Platt on their Grand Re-Openings on September 27 and 20, respectively.

 

Porte Brown LLC on being named among the Best Accounting Firms To Work For in 2012 by Accounting Today and Best Companies Group.

 

Illinois Senator Kirk Dillard and Illinois Representative Patti Bellock, who were named among the Illinois Chamber of Commerce’s Champions of Free Enterprise for 2011-12.