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HomeMy WebLinkAboutMinutes - 8/11/1998 - Finance and Personnel Committee � FINANCE COMMITTEE MINUTES August 1 1 ,1998 Members Present: Chairman Alderman Murgatroyd, Alderman McClatchey Alderman Baird Others Present: Mayor Cuda, City Administrator Lobaito, City Clerk Althoff, Alderman Glab, and Smith Engineering Traffic Engineer Gary Rozwadowski and Financial Consultant Harold Warren of Warren Associates Residents in Attendance: Irish Prairie Homeowners Association Board Members Don Long, President Chris Johnson, Treasurer Marie Spade, Secretary Tom Batt, Director Alderman Murgatroyd opened the meeting at 7:00 P.M. stating the purpose of this evening's meeting was to discuss the financing of the Route 31 and Shamrock Lane intersection lane improvements and traffic signal installation. Introducing Gary Rozwadowski of Smith Engineering, Inc. City Administrator Lobaito requested Mr. Rozwadowski provide the committee with an overview of the scope of the � proposed project improvements. Mr. Rozwadowski informed the committee the Illinois Department of Transportation had approved the installation of a traffic signal at the US Route 31 and Shamrock Lane intersection with the stipulation that lane improvements be made, specifically the provision for a three lane cross-section. Mr. Rozwadowski noted area developers, Prime Commercial, had provided and paved a three lane area on US Route 31 from Prime Parkway to just south of Dayton Avenue which needs only restriping. A three lane cross section on US Route 31 currently exists from Bull Valley Road south to the edge of the Pino & Zadeikis driveway. Easements and right-of-ways will therefore, be required in specified areas along US Route 31 for it's widening. Mr. Rozwasowski opined, with the consensus of staff, the City of McHenry should initiate attempts to obtain easements, as opposed to right-of- ways. Obtaining easements would be more cost efficient and might be more palatable to affected property owners. He did note however the Illinois Department of Transportation (IDOT) may refuse the easements and require the City obtain right-of-ways. The additional property needed to facilitate the widening of US Route 31 would be for road grading purposes only. In response to committee inquiry, Mr. Rozwadowski explained the road would be improved with curb and gutter as well as the placement of culverts under driveways. In addition turn lanes shall be provided for Shamrock Lane. � Finance Committee Meeting Minutes � August 4, 1998 Page Two In response to City Administrator Lobaito's inquiry, Mr. Rozwadowski stated these plans would be submitted to the Illinois Department of Transportation for review and comment sometime next week. Mr. Rozwadowski opined the IDOT review would be an approximately twelve week process. Lane improvement construction will take approximately three months or one full construction season. In response to further inquiry Mr. Rozwadowski stated prior to obtaining the IDOT permit the City of McHenry will be required to obtain the needed easements and/or right-of- ways for the State. Some discussion followed regarding the quick-take authority of the State. Harold Warren of Warren Associates arrived at 7:15 p.m. The project's cost estimate remains at approximately 5550,000, however further study is yet required. Mr. Rozwadowski was excused at 7:21 p.m. Some discussion followed regarding the scope of the Special Service Area. A visual depiction of the proposed area was presented. City Administrator Lobaito � noted a large portion of the hospital property would be exempt. He also informed the committee he was currently working with the appropriate county representatives to include affected unincorporated properties within the Special Service Area. Mr. Warren supplied, in writing, calculations of the dollar amount to property owners for the following bond issue amounts: 5350,000, 5300,000, 5275,000, and 5250,000. He stated the 221 condominium owners could expect to pay between $50 and $85/year based on an average assessment of 526-27,000 and a specified public benefit amount. Mr. Warren noted the total assessed value of the proposed special service area is approximately S 16 million dollars. Some discussion followed regarding the assessed value of apartment property vs. condominium property. Mayor Cuda noted the assessor bases property values on the current market price of property purchases and number of bedroom units. Mr. Warren, in response to committee inquiry noted the tax rate will be based on the 1998 assessed valuation. Further discussion ensued. Alderman Baird suggested the service area be extended north beyond Bull Val�ey Road and south to include the Corporate Center. Alderman Murgatroyd stated the Pacini property will, in all likelihood, require additional improvements and the McHenry Corporate Center has already completed road and traffic signal �„ improvements.