HomeMy WebLinkAboutMinutes - 11/21/1983 - City Council (2)PUBLIC HEARING
MONDAY, NOVEMBER 21, 1983 7:30 P.M.
Mayor Stanek called to order a Public Hearing of the McHenry City
Council on Monday, November 21, 1983 at 7:30 P.M. in city hall for the
purpose of considering the proposed issuance by the City of McHenry of its
$775,000.00 principal amount Industrial Project Revenue Bond,proceeds there
of to be loaned to Heritage Investment Services an Illinois Partnership
of which Theodore Schweder 2609 West Wyandotte Avenue, McHenry, Illinois,
Ronald Bykowski 3717 West Elm Street, McHenry, Illinois and James Shaid,
4814 Strong Road, Crystal Lake, Illinois,to finance the cost of acquisition
of land and a building of 24,200 square feet, located at 3722 West Elm Street,
McHenry, Illinois and for remodeling of said building for use as commercial
rental spaces by various tenants.
At roll call the following aldermen were present: Bolger, Nolan,
Busse, McClatchey, Smith, Serritella. Absent: Datz, Snell. City staff in
attendance were City Attorney Narusis and Clerk Gilpin. Members of the
audience were Theodore Schweder and Ronald Bykowski of Heritage Investment;
Ralph Campbell of Ralph Campbell and Associates; Al Jourdan, McHenry County
Auditor; Anne Casey of Holmstrom and Green representing Heritage Investment
and Chet Frankie of Lakes Cablevision.
Ms. Casey addressed the council on behalf of the three partners in
Heritage Investment. She explained that Schweder and Bykowski as well as her-
self were present to answer any questions concerning the project. Attorney
Narusis reported that he had reviewed the documents concerning the issuance
of the Industrial Revenue Bonds and had relayed that information to Carlson
and Hug, Bond Counciling Attorneys for Heritage Investment. Carlson and
Hug indicated that they would incorporate the proposed changes suggested by
Attorney Narusis and incorporate them into the final draft documents. They
also advised that they had been in touch with the McHenry State Bank which
will be the lending institution for these Industrial Revenue Bonds and as
soon as the language is verified with McHenry State Bank the documents will
be presented to the City Council for final action at the December 19,1083
meeting.
Mayor Stanek asked if anyone at the Public Hearing wanted to make
any written or oral statements regarding this project. There were no
comments or questions from anyone in the audience or from the aldermen in
attendance.
Motion by Smith, seconded by Serritella, to recess the Public
Hearing subject to getting proper documents to the council for action at
the December, 5, 1983 meeting.
Voting Aye: Bolger, Nolan, Busse, McClatchey, Smith, Serritella.
Voting,Nay: None.
Absent: Datz, Snell.
Motion carried.
Meeting recessed at 7:40 P.M.
MAYOR CITY CLERK
Council Mtg.
Special Mtg.
Public Hrg.
Industrial
Revenue
Bonds