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                                        CORRECTED MINUTES OF THE FINANCE & RULES

                                               COMMITTEE OF THE WHOLE MEETING

                                                  HELD ON MONDAY, JUNE 18, 2007

MAYOR SHERWIN CALLED THE MEETING TO ORDER AT 6:30 P.M.

Clerk Floistad called for the roll.

ROLL CALL:

PRESENT:                                

                                      ALDERMAN STRAUBE

                                      ALDERMAN FELDMANN

                                      ALDERMAN DELGADO

                                      ALDERMAN PADILLA

                                      ALDERMAN NESSLING

                                                  ALDERMAN RIESTERER

                                                  ALDERMAN GROCHOWSKI

                                                  ALDERMAN PATTI      

OTHERS PRESENT:                  MAYOR JEFFREY SHERWIN

                                                  FRED PAUL, TREASURER

                                                  JOANNE FLOISTAD, CITYCLERK

                                                  DENNIS KOLETSOS, CHIEF OF POLICE

                                                  WILLIAM KABLER, FINANCE DIRECTOR

                                                  DALE ROBERTS, SUPERINTENDENT OF PUBLIC WORKS

The committee reviewed the minutes of the June 4, 2007 meeting.  Alderman Patti made a motion to approve the minutes of the June 4, 2007 meeting; seconded by Alderman Riesterer.  Mayor Sherwin asked if there were any corrections or deletions.  Mayor Sherwin called for a voice vote.  All were in favor.  The minutes were approved.

Mayor Sherwin presented the Invoices Over One Thousand Dollars. Alderman Patti made a   motion to approve the Invoices Over One Thousand Dollars, seconded by Alderman Feldmann. Alderman Patti asked why West Central Municipal waited so long to bill us.  Chief Koletsos said they switched over to a new per billing person.   Mayor Sherwin called for a voice vote.  All were in favor.  The Invoices Over One Thousand Dollars were approved. 

Mayor Sherwin presented the Warrants and Vouchers.  Alderman Patti made a motion to pay the Warrants and Vouchers; seconded by Alderman Delgado.      Mayor Sherwin called for a voice vote.  All were in favor.  The motion carried.

Mayor Sherwin presented the Commission Expenditures. Mayor Sherwin said that Veteran’s Park is splitting the cost for Movie in the Park. The first movie is scheduled for July 20th.    The movies will be in Grant Park.  Alderman Patti made a motion to approve the Commission Expenditures; seconded by Alderman Nessling.  Mayor Sherwin called for a voice vote.  All were in favor.  The motion carried.    

Under New Business; Mayor Sherwin talked about Ordinance O-17-2007, An ordinance requiring inspections and transfer stamps for the transfer of real estate and amending Title 8 of the code of ordinances of the City of Northlake.  Alderman Patti made a motion to approve ordinance O-17-2007; seconded by Alderman Riesterer.  Mayor Sherwin called for a voice vote.  All were in favor.  The motion carried. 

Mayor Sherwin presented Ordinance O-18-2007, An ordinance adopting the prevailing wage standards in the City of Northlake.  Alderman Grochowski made a motion to approve Ordinance O-18-2007; seconded by Alderman Patti.  Mayor called for a voice vote.  All were in favor.  The motion carried.

Mayor Sherwin said that we have received a grant for $15,000.00 for the Illinois Clean Energy for converting the traffic signals on Wolf Road to LED.  It is not just a simple matter of changing light bulbs.  We had bids from Mead and H & H.  Mead was the lowest bidder by $2,000.00.  We are still going to have to spend $30,000.00 to make the change.  Mayor Sherwin suggested that we wait to see if we have money in the budget to cover this.  Alderman Patti made a motion to wait until we see if we have funds available; seconded by Alderman Grochowski.  Mayor Sherwin called for a voice vote.  All were in favor. The motion carried.

Mayor Sherwin presented the purchase of 25 S. Gail for $275,000.00.     Alderman Feldmann made a motion to approve the purchase; seconded by Alderman Patti.  Mayor Sherwin called for a voice vote. All were in favor. The motion carried.

Mayor Sherwin brought up Ordinance O-20-2007, An ordinance establishing smoking restrictions and amending title four of the Northlake City Code.  The state has passed the smoking statue that will take effect January 1st.  The governor still needs to sign it.  This will just hold the county in abeyance until January 1st.  Alderman Grochowski made a motion to approve Ordinance O-20-2007; seconded by Alderman Riesterer.  Mayor Sherwin called for a voice vote.  There was two nays and one abstain.

Mayor Sherwin talked about Resolution R-17-2007; a resolution supporting the Safe Routes to School grant application.  We would put sidewalks and lighting by Westdale school.  The anticipated cost is $359,697.00.  If it is approved, the state would cover it 100%.  Alderman Patti made a motion to approve Resolution R-17-2007; seconded by Alderman Delgado.  Clerk Floistad asked about the state paying for a camera for the monkey path.  Mayor Sherwin said that we could apply for this next year.    Mayor Sherwin called for a voice vote.  All were in favor.  The motion carried.

Bill Kabler and Walter Stock talked about the bond issue for the City of Northlake to purchase apartments and build a new police station.   The amounts we are bonding for are:

     $4,900,000 for the Police Station

     $2,600,000 for Land Acquisition and Building Expenses

     $4,000,000 for the Rhodes Avenue Apartments

     $2,000,000 for Construction and Redevelopment Expenses

        $100,000 for Contingencies

    $13,600.00 Total

We need $4,000,000 August 1st for the purchase of the apartments.  The rest would be coming shortly thereafter and we would put the money in the bank. We would draw some interest on the money.    The police station should start construction around January 1, 2008 and we would need the money over a period of time.  The 4.9 million was a taxable amount on the citizens of Northlake. The balance of that would not be.    We would take the balance of that and abate that on an annual basis. The mayor and Bill Kabler have decided we will try to pay back the 2.6 million as quickly as possible.  We will budget some money on an annual basis to pay it back.  We will not need the 2 million dollars for the apartments until we start to rehab.  This should happen within two years.  We are bonding more money than what we need.  We don’t know where the interest rates are going to go later.  They are relatively low now. 

Mayor Sherwin said that we want to have flexibility to pay the 2.6 million, 4 million and the 2 million amounts off at any time within a short period of time.  Mayor Sherwin said depending on the market conditions we may be renting the condos for a longer period of time. The rent will pay the interest coming due on the project.  We are looking at 3-4 years

. 

Bill Kabler said that an ordinance will be presented to the board authorizing for the investments of this money into CD’s.  This money will be strictly for these projects.  A discussion regarding investing and paying off funds took place. 

Mayor Sherwin said that he has interviewed one firm to be the property manager for Rhodes Manor.  Northwest Housing will send him two more firms to be interviewed.  Mayor Sherwin said that we need to generate revenue from the complex.  Alderman Patti asked if we have to pay the property manager and Mayor Sherwin said we would have to pay them and the funds would come out of the condo rent. 

Mayor Sherwin presented Resolution R-18-2007, A resolution of authorization by the City of Northlake for the application of an Oslad Grant from the Illinois Department of Natural Resources to extend the bike path to the tennis courts at King Arthur and rehabilitate the tennis courts.  Alderman Patti made a motion to approve Resolution R-18-2007; seconded by Alderman Nessling.  Mayor Sherwin called for a voice vote.  All were in favor. The motion carried.

 There being no further business, Alderman Straube made a motion to adjourn; seconded by Alderman Riesterer.   Mayor Sherwin called for a voice vote. All were in favor.  The motion carried.

MEETING ADJOURNED AT APPROXIMATELY 7:20 PM.

RESPECTFULLY SUBMITTED

JOANNE FLOISTAD, CITY CLERK