HomeMy WebLinkAboutMinutes - 04/02/1986 - City Council (2)PUBLIC HEARING
WEDNESDAY, APRIL 2, 1986 7:30 P.M.
Mayor Busse called to order a Public Hearing on Wednesday, April
2, 1986 at 7:30 P.M. in city hall. At roll call the following aldermen
were present: Teta, Lieder, McClatchey, Smith, Snell, Serritella. Ab-
sent: Nolan, Bolger. City staff in attendance were Superintendent Batt,
Attorney Narusis, Clerk Gilpin, Chief Joyce, Park Director Merkel.
Mayor Busse announced that the public hearing was being held re-
garding a plan to finance the acquisition of land, buildings and im-
provements and renovation, construction and equipment of the former
McHenry Hospital property as an adult congregate care assisted living fa-
cility containing in excess of 100 dwelling units, located at 3516 W.
Waukegan Road, in the city of McHenry. Pursuant to the plan of fi-
nancing, the City proposes to issue and sell its Industrial Development
Revenue Bonds (First Humanics Corporation Project) in an aggregate prin-
cipal amount of $7,850,000, and lend the proceeds thereof to First Hu-
manics Corporation, a Delaware not -for -profit corporation, to finance the
cost of the project, to pay certain costs incidental thereto, and to the
issuance of the bonds. The project will be owned by the aforesaid First
Humanics Corporation, formerly known as McHenry Villa project. The pub-
lic hearing is required by the Tax, Equity and Fiscal Responsibility Act
of 1982. Written comments could be submitted to the City"Clerk's office
prior to the April 2, 1986 public hearing.
Persons in the audience were as follows: Bob Steele, Ray Mar-
tin, Avis Gans, Regina Green, Elmer Dombrowski, Doug Popejoy, Mel Carl-
son, Tom Stilling, Vic Santi, and Tony Oliver.
Mayor Busse asked if anyone in the audience wished to make any
oral comments or present any written statements. There was no reply. He
asked if any of the aldermen wished to make any comments. There was no
reply. He asked the City Clerk if any written comments had been received
in her office. She replied that none had been received.
Motion by Smith, seconded by Teta, to adjourn the Public Hearing
at 7:36 P.M.
Voting Aye: Lieder, McClatchey,
Smith, Snell, Serritella, Teta.
Voting Nay: None.
Absent: Bolger, Nolan.
Motion carried.
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Attendance
Public Hearings
Industrial
Revenue Bonds