HomeMy WebLinkAbout2009-02-09 AgendaAGENDA
VILLAGE OF MORTON GROVE
MEETING OF THE BOARD OF TRUSTEES
TO BE HELD AT THE RICHARD T. FLICKINGER MUNICIPAL CENTER
February 9, 2009
Meeting 7:30 pm
1. Call to Order
2. Pledge of Allegiance
3. Roll Call
4.
5.
6.
7.
8.
9.
10.
Approval of Minutes -
`Public Hearings
Special Reports
Regular Meeting, January 26, 2009
Special Meeting, January 28, 2009
a. Presentation of Certificates of Appreciation to:
FirefighterlParamedic George Carlson Fire Captain Bill Porter
Firefighter/Paramedic Joe Fasolo Fire District Chief Frank Rodgers
Firefighter/Paramedic Nate Akemann Firefighter/Paramedic Rick Pryor
for the 2008 Scott Firefighter Combat Challenge World Championships XVII to be
made by Mayor Krier and Fire Chief Tom Friel
b. Presentation of a Distinguished Award by Commissioner Sufferdin.
c. Follow-Up hzformation Regarding Resolution 09-06 Authorizing Negotiation of a Redevelopment
Agreement with the Aldsn Netwwork for the Development of an Affordable Senior Citizen
Housing Project in the Lehigh/Ferris TIF District
Resident's Comments (agenda items only)
President's Report -Admin~zstr°atio~a, Northwest Mu~aicipal Conference, Council of Mayors, TIF
Committee, Capital Projects, Real F_stateCommittee
Clerk's Report- Condomini~wv2 flssocra8ion, Adnzsory Commission ovr Aging
Staff Reports
a. Village Administrator
1) Miscellaneous Reports and Updates
b. Corporation Counsel
1 i. Reports by Trustees
a. Trustee Brunner -Legal, Family and Senior Services Department, Cable and
Telecommunications Commission, Environmental Health, N~aukegan Road TIF Review, Solid
Waste Agency of Northern Cook County ('17~ustee Kogstad)
b. Trustee Kogstad -Community Relations Commission, Comprehensive Plan, Advisory
Commission on Aging (T~°uslee Minx)
a Trustee Marcus -Police Depm~hnent, Police and Fire Commission, Real Estate Committee,
Chamber of Corrunerce (Trustee Thill)
d. Trustee iVlinx -Finance Bepartment, Real Estate Comnzietee, Plan Commissian, Ferris/Lehigh
TIF Review, Fire Department, REl~ Center, NIPSTA, Capitol Projects, Police and Fire
Commission, Economic Development, Northwest Municipal Conference (Trustee Staackmann)
1) Resolution 04-Q6 (IntroducedTanuary 26, 2009 and withdrawn,7anuary 26, 2009)
Anth~rizing Pvegotiatiou of a Redevelopment Agreement with the Alden 2detwork for the
Development of an Affordable Senior Citizen Housing Project in the Lehigh/Ferris TIF
District
2) Resolution 09-14 (Introduced February 9, 2009)
Updating a Written Policy Governing Investment Activity Pursuant to Public Funds
Investment Act 30 ILCS 235/2 in the Village
e. Trustee Staaekmann -Building Department, Appearance Commission, ESDA,
IT/Con2n2unications, Den2pster Street Corridor Plan (Trustee Brunner)
I) Ordinance 09-04 (Introduced February 9, 2009)
Amending Title 10, Chapter 1, Article A Entitled Permit a~~d Plan Review Fees of the
ivlunicipal Code of the Village
Trustee Thilt -Public Works, Capitol Projects, Traffic Safety Commission, Natural Resour°ce
Commission, Solid Waste Agency of Northern Cook County (Trustee Marcus)
1) Ordinance 09-OZ (Introduced February 9, 2009)
Amending Title 5, Chapter 9, Section 9 Entitled "Municipal Parking Zones" of the
Mtmicipal Code of the Village
12. Other Business
13. Presentation of Warrants - $1,217,741.20
14. ResideuNs Comments
15. Executive Session -Rea! Fstate, Personnel, Labor Negotiations, and Review and Release of Executive
Session Minutes
16. Adjournment - To ensure,full accessibility and equalparticipation,for all interested citizens, individuals wit/a disabilities
who plan to attend and who require certain accotvemodations in order to observe and/or participate to [hr~s meeting, or who
have questions regarding the accessibility of these,faeilities, are regatested to contact Susan or Marlene (847/470-5220)
promptly to allow the Village to make reasonable aceommodatfons.
CALL TO ORDER
I. Village President Rick Krier called the meeting to order at 7:30 p. m. and led the assemblage in
the Pledge of Allegiance.
II. Village Clerk Carol Fritzshall called the roll. Present were: Trustees Georgianne Brunner, Roy
Kogstad, Shel Marcus, Rita Minx, Dan Staackmann, and John Thill.
APPROVAL OF MINUTES
a. Regarding the Minutes of the January 12, 2008 Regular Meeting, Mayor Krier asked if
anyone had any changes or corrections to the Minutes. Seeing none, Trustee Minx moved,
seconded by Trustee Marcus, to approve the January 12, 2008 Regular Meeting Minutes as
presented. Motion passed unanimously via voice vote.
IV. PUBLIC HEARINGS
NONE
V. SPECIAL REPORTS
a. Swearing In Ceremony for New Police Sergeant and New Police Commander
Fire and Police Commission Chairman Mike Simkins said he was happy and proud about the
promotion of Jason Rago to Police Sergeant and Brian Fennelly to Police Commander; stating
that both men have performed their jobs in a superior fashion and represent the Village well.
He invited Chief Tasch and Trustee liaison Marcus to join him.
Chairman Simkins provided some background on Sgt. Rago: he was born and raised in the
Chicago area, and graduated from Maine South High School. He attended Western Illinois
University, where he earned a Bachelor's Degree in Law Enforcement. In 2000, he began
his career with the Morton Grove Police Department, and served as an evidence technician,
ranger officer, youth officer, and detective. Sgt. Rago has numerous letters of appreciation
and honorable mention from the department and residents, and has received the Cook County
Sheriffs Award of Merit. Sgt. Rago believes that one of the most important duties an officer
can take is that of mentoring other officers. The Board congratulated Sgt. Rago as his wife of
11 years pinned on his badge.
V. SPECIAL REPORTS (continued)
b. Chairman Simkins then brought forward Brian Fennelly, who will be Morton Grove's newest
Police Commander, and offered some background information on him: He was raised in the
near north suburbs and is a 1990 graduate from Maine South High School. He attended North
Central College in Naperville, where he was a National Champion and two-time All American
in track and field. He received a Bachelor of Arts in Accounting, and then, in 2008, he
completed his Master of Science in Public Safety and Administration from Calumet College of
St. Joseph's.
Commander Fennelly joined the Morton Grove Police Department in 1999 as a patrol officer.
He became an evidence technician and a member of the NIFUS mobile field force. As a patrol
officer, he received numerous departmental honorable mention awards and a departmental
commendation award. In 2002, he was promoted to the rank of detective, specializing in the
mitigation of juvenile crimes within the Village. He has worked on the most serious of crimes
that face the community, including homicides, criminal sexual assaults, and armed robberies.
Commander Fennelly was shot in the line of duty while he was attempting to apprehend
individuals in an armed robbery case. He remained a member of the NIFUS mobile field force
and was selected to its elite arrest team. He has received the following awards: United States
Congressional Recognition of Valor; the National Association of Police Organization's "Top
Con" avaard; Illinois State Police Medal of Honor, Illinois Association of Chiefs of Prlice Award
of Valor, Police Officer Hall of Fame Silver Star for Bravery, American Legion Police Officer of
the Year, and many more.
In 2006, Commander Fennelly was promoted to Sergeant which coincided with his promotion
to Arrest Team Leader for the NIFUS mobile field force. He took on the responsibilities of the
department's defensive tactics program. In this regard, he worked with schools and trained
police officers in confronting and effectively dealing with active school shooters. He and
Deputy Chief Mark Erickson worked with the Cook County Department of Public Health in
developing policy and procedures for distributing pharmaceuticals in the event of a pandemic
medical outbreak or terrorist attack. He also acts as the department's terrorism liaison officer
with the Federal Bureau of Investigation.
As of January 1, 2009, Commander Fennelly has been promoted to Assistant Commander
of the NIFUS mobile field force. He is second in command of a 120-man tactical unit that is
deployed to assist surrounding police departments with major events where organized threat
groups are likely to make an impact. Most recently this unit was deployed to assist the
Chicago Police Department with the 2008 Obama election celebration in Grant Park.
The Board congratulated Commander Fennelly as his wife pinned on his badge.
VI. RESIDENTS' COMMENTS (Agenda Items Only)
Tony Kovach, 8302 N. Avalon. Mr. Kovach spoke regarding Ordinance 09-01 (the Lehigh!
Ferris TIF Framework Plan) and Resolution 09-06 (authorizing negotiations for the develop-
ment of an affordable senior housing project). He said that he recognizes this is an "advisory"
document, a vision statement, and said he appreciates that everyone's best intentions have
gone into this.
Mr. Kovach said that, as a senior, he felt that the senior housing in the plan, especially the low
income or "affordable" senior housing, was not consistent with the overall vision of the frame-
work plan.
VI. RESIDENTS' COMMENTS (Agenda Items Only) (continued)
Mr. Kovach said that the plan is "transit-oriented, and sees development of unique shops and
businesses in the area". He said he didn't think that seniors, especially low-income seniors,
would be likely to use Metro or frequent the unique shops, boutiques, and cafes the plan
envisions. He thought that development in that area should be targeted to residents who
commute and can walk to the Metro station, or for offices with employees and customers who
use Metro. He asked if seniors were the demographic group that would foster the kind of
development the overall plan calls for. He also wondered if Morton Grove seniors need a
senior housing project, and if there were many low-income Morton Grove seniors. He
wondered if this subject had been studied. Mr. Kovach said that he appreciated all the hard
work involved, but cautioned the Board not to make decisions they'd regret later.
VII.
PRESIDENT'S REPORT
Mayor Krier sought concurrence with his appointment of Christopher Limjoco to the Economic
Deveiopment Commission. Trustee Minx so moved, seconded by Trustee Staackmann.
Motion passed unanimously via voice vote.
Trustee Staackmann asked if Mr. Limjoco was present tonight. Mayor Krier said he thought
Mr. Limjoce w.as working tonight. Trustee Staackmann commented that he fourd it disheart-
ening when people were appointed to commissions and didn't attend their initial appointment..
He hoped Mr. Limjoco would be well-received on the Economic Development Commission.
VIII.
CLERK'S REPORT
Clerk Fritzshall announced that Morton Grove will again be an early voting site. Early voting
for the April 7 Consolidated General Election begins on March 16 and ends on April 2. The
last day to register to vote in this election is March 10. She encouraged people to register by
coming to Village Hall, noting that it's open until 8 p.m. on Thursdays. Clerk Fritzshall said
that judges are needed for the April 7 election; if anyone's interested, they should contact her
at Niles Township.
IX.
A. Village Administrator
STAFF REPORTS
Mr. Wade announced that the Village will be hosting a "Lincoln Avenue Open House" at Fire
Station #4 this coming Wednesday from 6:30 to 8:30 p. m. It's an opportunity for residents to
review plans for Lincoln Avenue, such as improved rail crossing, bicycle lanes, traffic calming
features, and new street lights.
B. Corporation Counsel:
Ms. Liston had no report.
'Minutea.oiJanua 36,20D9~oartl3Neetfag.
X. TRUSTEES'REPORTS
A. Trustee Brunner:
Trustee Brunner had no report.
Trustee Kogstad:
Trustee Kogstad had no report.
C. Trustee Marcus:
Trustee Marcus had no report.
D. Trus±ee Minx:
Trustee Minx presented Ordinance 09-01, Amending Title 11, Section 1 of the Municipal
Code of the Village of Morton Grove to Adopt and Approve the Lehigh/Ferris
Framework Plan.
This is the second reading of this ordinance.
a. She explained that, in 1999, the Village adopted a Comprehensive Plan Update which
recommended a Framework Plan be prepared for the Lehigh/Ferris Subarea. This p{an has
been prepared by Village staff and consultants with input from elected and appointed officials,
and the community at large. If adopted, this Framework Plan will become the Village's official
Comprehensive Pian and will identify major trends and forces affecting the Village and its
citizens. The Plan establishes goals and standards and will serve as guiding principles and
priorities in implementing future development within the Lehigh(Ferris Subarea. Trustee Minx
said that the Plan Commission voted 6 to 1 to recommend approval of this Plan. She moved to
adopt Ordinance 09-01, seconded by Trustee Brunner.
b. Trustee Staackmann said that he's seen, over the last several years, a huge concern raised
by constituents over the number of condominiums in that area, and he shares that concern.
However, if a parcel is purchased by a private entity who wants to build condominiums, the
Village is limited in what it can do about that, as long as all ordinances are followed.
c. Trustee Kogstad said he felt that this plan is not reflective of residents' priorities as stated in a
public meeting held last summer. He did not think the traffic study was complete or accurate.
He thought the higher density is not what residents want, and was against the relaxed parking.
There being no further discussion, Mayor Krier called for the vote. Motion passed: 4 ayes,
2 nays.
Tr. Brunner aye Tr. Kogstad ~ Tr. Marcus
Tr. Minx aye Tr. Staackmann n~ Tr. Thill aye
X. TRUSTEES' REPORTS (continued)
D. Trustee Minx; (continued)
2. Next, Trustee Minx presented Resolution 09-06, Authorizing Negotiation of a Redevelop-
ment Agreement With the Alden Foundation for the Development of an Affordable
Senior Citizen Housing Project in the Lehigh/Ferris TIF Redevelopment District.
a. Trustee Minx said that she was aware that there were concerns about this matter and moved
to go into Executive Session to discuss the sale of Village-owned property. Trustee Brunner
seconded the motion. Trustee Staackmann asked if it was necessary to go into Executive
Session to discuss this, saying that he preferred to discuss it publicly. Trustees Minx and
Brunner withdrew their motion and second, respectively.
b. Trustee Brunner provided some background into this Resolution. She said that the Lehigh/
Ferris TIF Redevelopment Area was created in 2000. Upon its creation, the Village acquired
the right to assemble parcels within the TIF District and enter into agreements with third
parties for the redevelopment of these parcels, consistent with the Village's plan for the re-
development of the area. The 1999 Comprehensive Plan identified the development of senior
housing as one of the Village's goals for that area. Since 2001, the Village has acquired
several small parcels of land along Ferris Avenue with the intention of assembling a site
suitable for a new development. This area is called "Site B" and consists of approximately two
acres located in the CR (commercial/residential) zoning district. The Village has held a series
of public meetings seeking input on how best to redevelop the site. Considerable interest was
expressed in doing a senior affordable housing project there. The Village solicited developers
to submit proposals for the redevelopment of this area and received five proposals. After
reviewing the proposals, the Village held a special public meeting where Alden and two other
developers presented their proposals. Alden's plan best meets the Village's needs for the
development of affordably priced senior housing on that site. This Resolution would authorize
Village staff, special counsel, and the Village's TIF consultant to negotiafe a contract with the
Alden Foundation for the redevelopment of "Site B" for such a project. Any agreement negoti-
ated would be subject to the approval of the Village Board. Due to the complexities of the
redevelopment agreement, it is in the Village's best interest to use special real estate consult-
ants and special legal counsel. Ttiis Resolution authorizes the Villageto retain such experts.
It is estimated that the Village will spend between X5,000 and X15,000 for professional
services related to the negotiations.
Trustee Minx moved, seconded by Trustee Brunner, to approve Resolution 09-06.
c. Mayor Krier pointed out that Beth Dimas, Executive Director of the Alden Foundation, and
Steve Friedman of S.B. Friedman Associates (the Village's TIF consultant), were present to
answer any questions and address any concerns.
Trustee Thill asked Ms. Dimas if Alden had planned on going into the April funding cycle.
She said they had hoped to, but felt that they were rushing the process and would need more
time in order to .address the trustees' concerns. She said that they would have needed to
receive zoning approva( already in order to get into the April funding cycle.
e. Mayor Krier said that he had received a letter signed by four of the trustees, requesting asix-
month delay on this, due to some concerns expressed in the letter. He had forwarded the
letter to the Alden Foundation and the Village's TIF consultant so that they could see and
address the concerns. The April funding cycle was one such concern.
Minatas nfJanuan)26, 3009Board'Meatingl~
X. TRUSTEES' REPORTS (continued)
D. Trustee Minx: (continued)
Trustee Thill stated that he had felt the Village was rushing into this and he was the one
who spearheaded the request for asix-month moratorium on the "Site B" discussion. He felt
that this project is very reliant on State and Federal funding, not only for building it, but for
maintaining the low rates that would be charged. He said he wanted to see what impact
President Obama's economic stimulus package would have, and see if something better could
be done there. Trustee Thill said that he totally supports the concept of senior housing, which
raises another concern. He said that there is no guarantee for Morton Grove residents to
have the ability to get into this senior housing project, due to federal laws. Village residents
would first have to sell their homes before they could move in, which would be difficult consid-
ering the depressed housing market. This is a disadvantage to Village residents, since people
who rent would be able to move into this housing very quickly. Trustee Thi11 felt strongly that
there should be some safeguards for Village residents, because the Board is being asked to
give away $4 million dollars for this development, and there should be something in it for
Morton Grove. He thanked Mayor Krier for the opportunity to discuss this in public, so the
residents can see that there are a lot of nuances to this. Trustee Thill said he did not like
feeling he was being rushec3into this.
g. Trustee Brunner asked Trustee T hill how there could be safeguards v~,ithoui Violating federal
fair housing laws. He said he didn't have the answer to that. She asked where he came up
with a figure of $4 million dollars. He responded that he had asked Economic & Community
Development Director Bill Neuendorf for a list of expenses related to that property. The total
was $3,792,000. In addition to that, an environmental cleanup needs to be done on the
property; the Village will have to pay for that. Trustee Thill commented that he found it hard to
believe that the Village would purchase the property and allow the owner to get away without
doing remediation. Mr. Neuendorf estimated that the environmental cleanup would cost the
Village between $200,000 and $400,000. Additionally, the Village took out a loan on that
property for $2.6 million, on which the Village has twice paid $170,000-in interest only, so
that's another $300,000 spent on that property. This totals over $4 million dollars.
h. Trustee Thilf said that Aldeh has made two proposals: A and B. Orie proposal has them
paying a lower cost for the land; the other states they'll pay a higher cost for the land, with
the caveat that they will then ask for more TIF assistance. No dollar amount has yet been
attached to "how much" TIF assistance would be requested. He said that, in his mind, it's Tike
handing the land over for nothing.
i. Trustee Brunner said that when the Village took out the loan, it was the Board's intention to
turn it over quickly and get it back on the tax rolls. It was not anticipated to hold onto it for this
long. The Village has been talking about refinancing that loan. She said she hasn't seen any
figures about the cost of the environmental cleanup.
j. Trustee Kogstad asked Trustee Thill if he wanted to move to postpone this. He said that was
his intention. Mayor Krier called for further discussion.
k. Trustee Minx said that she was aware that Trustee Thill had contacted all the trustees; she
didn't realize it was for a letter, though. She said the trustees then received information from
Alden addressing all the concerns Trustee Thill had mentioned. Alden's response mirrored
her response to Trustee Thill. Trustee Minx said that some of the things Trustee Thill brings
up relate to the unpredictable economy. She said builders know you go forward with an idea if
you have the means to do accomplish it in the Tong run. Any type of development will take time
to go through due process within the Village and due process to obtain all the funding.
~~ Minutes nfdanuaN36, 206ia~aard Meetitig'
X.
D. Trustee Minx: (continued)
TRUSTEES' REPORTS (continued)
Trustee Minx felt that any type of "shovel ready' project will take time; guessing that this
project wouldn't be ready for move in for at least 18-24 months, and she felt the economy
would be turning around by then. She thought that, by then, Morton Grove residents and
families of Morton Grove families would be selling their homes, not in a depressed market,
but in one that would open up those homes to young families with children, which would help
keep the community viable.
m. Trustee Minx added that, by naming Alden as our preferred developer and allowing negotia-
tions to proceed, that would answer some of Trustee Thill's questions. The numbers are "soft"
because they are visionary, not "nuts and bolts", which is what the Village requested. For this
negotiation, Alden will have to put out money to pay for an architect and other professionals,
something they're not likely to do unless they are confident that they are the Village's
preferred developer for this site. This resolution just says the Village has picked a preferred
developer who has presented a proposai the Board likes. At any time, if things don't go well,
the Village is not selling them the land in this resolution. The Board is just asking for specifics,
i.e., parking spaces, green space, green construction, number of floors, number of units, etc.
She did not feel that holding off for six months will answer any questions of Trustee Thill;
rather it gives Morton Grove a poor reputation as a Village ±hat seeks developers and then
says, we don't like the economy right now, we're going to hold off. It sends mixed signals, and
the Village needs to move forward.
Mayor Krier said that Trustee Thill had given him the letter last Thursday, and the Mayor had
asked him to sit down and discuss it. Trustee Thill had suggested going into Executive
Session this evening so that the entire Board could discuss it. But Mayor Krier said he's glad
it's being given a good airing now. He said this is why he ran for mayor. He feels the Village
has a reputation of being unable to make decisions. He did not feel that the Village was being
hasty, noting that senior affordable housing has been a goal of the Village for 30 years.
o. Mayor Krier gave a brief timeline of events: the Comprehensive Plan update was done ten
years ago, im 1999: Im2007, public hearings were held onthis site. In 2008, one hundred
RFOs were sent out for the site. In July 2008, five interested parties bid. In November 2008,
Alden submitted a plan. In December 2008, a special meeting was held at which Alden gave
a presentation. He didn't see that as haste. Going even further back in time, Mayor Krier
commented that the Village couldn't make a decision about annexing the property where Golf
Mill is currently located; that's why the Village of Niles now owns it. Yet the Village took over a
bridge on Beckwith Road, a move which is puzzling yet today. In 2008, Produce World came
before the Board to talk about plans for expanding, but were "scared away" because the
trustees were asking financial questions. These types of questions scare developers away.
p. Mayor Krier said it was interesting that Trustee Thill wanted to wait until the economy
improved. He read an excerpt from a Town Hall meeting of November 2003, wherein a
resident asked for afive-year moratorium on any taxes imposed, in the hopes that the
economy would improve and the taxes wouldn't be necessary. That resident was John Thill.
Mayor Krier felt that the past Boards' biggest problem was their inability to make a decision.
The resolution tonight is merely to enter into negotiations with a respected senior housing
developer that has never been turned down for funding; a developer who thinks they can do
this project and give preference to Morton Grove residents. He said he truly did not under-
stand what will waiting for six months will do.
' Minutes nfJanuary?6, xOt198oaM.7Neeting)
X. TRUSTEES' REPORTS (continued)
D. Trustee Minx: (continued)
q. Mayor Krier painted out that Alden will have to hire architects and other professionals to make
presentations for staff review and the Village's extensive procedural control process. That will
cost them approximately $150,000 to $200,000. He said this is all the more reason to approve
this resolution tonight, so the process can begin. As far as the stimulus package, he's heard
that it will help projects that are "shovel-ready", which this one could possibly be if the Village
doesn't wait for six months. Mayor Krier also noted that, in Section 5 of the Resolution, the
Village reserves the right to choose another developer if things don't work out with Alden. He
felt that, if Trustee Thill couldn't vote on this tonight, he shouldn't say that he's in favor of
senior housing.
r. Trustee Thill asked if Mayor Krier heard him say at any time that he doesn't want the project to
go forward. He said he did not feel it was unreasonable to ask for a little more time, consider-
ing that what they would be voting on is something for which 22,000 residents will be putting
up the money. He felt he was within his rights to ask for more time on this.
Mayor Krier agreed and said this wasn't personal.
s. Trustee Marcus said that there's r^ drub` that ~.erycne an the Board feels that senior
housing, especially affordable senior housing, is a good cause. He felt that Alden made a
good presentation as well. His concern was more long-term, regarding ownership. He
wondered how will this property be resolved after 30 years; whether it would go back to the
Village, or if its use would be changed. Trustee Minx read from a memo from Alden that said,
in part, "by the Village adding a Special Use for senior housing to the zoning of the site, the
use couldn't be changed to non-senior housing without approval of the Board." Trustee
Marcus said it might be easy for the Board to make a decision today, but there must be a
vision for the future-and the future use of the property. He said that questions were raised
tonight by his colleagues and he didn't know if satisfactory answers had been given. He asked
what kind of timeframe would Alden be looking at if the resolution isn't approved tonight.
Ms: Demos said Alden had prbposedtwo schedules, one was more aggressive ahd hinged on
getting zoning and site plan approval by March to go into the April funding cycle. The Illinois
Housing Development Authority's next application deadline is in December. She admitted that
"sixty days to do everything is just impossible." She noted that, if the process begins now, with
90 days to negotiate; the negotiation process would conclude around the end of April.
Ms. Demos said that Alden is very interested in being in Morton Grove and excited about this
project, but is reluctant to start spending money without the commitment of the Board. She
felt all of the trustees' questions and concerns would be resolved during the negotiation proc-
ess. Then the task of getting the zoning and site plan approvals could begin.
Trustee Marcus asked how long it takes for the zoning and site plan approval process. Village
Administrator Wade said the Village has historically followed a certain schedule and a "pace"
which is not necessarily the pace of other municipalities. However, he said, in a number of
Villages, the schedule is that if the Board wants to get something done, Village staff will get it
done. The schedule that Ms. Demos suggests - 90 days for the redevelopment agreement -
is reasonable. Ms. Demos added that she would hope that by mid-summer, Alden's could
receive zoning and site plan approval, and then be ready for the December funding cycle.
Trustee Marcus commented that the Board would have a chance to approve the actual project
during the procedural control process.
„~
X TRUSTEES' REPORTS (continued)
D. Trustee Minx: (continued)
v. Trustee Brunner asked if some of the "covenant" type questions would be worked out in the
negotiation process. Ms. Liston said that her understanding is that Alden wouldn't start the
zoning approval process until a redevelopment agreement was approved.
w. Trustee Staackmann had several comments. He said. that he is "100% for affordable senior
housing" and felt that Alden's proposal was very impressive. He said that he has checked into
several existing Alden operations and found them quite satisfactory. Regarding the matter of
"haste", he felt the Village was hasty for purchasing the Site B property in the frst place,
especially by accepting the IEPA liability without even knowing how much that will cost. Now
the Village has to deal with that. He felt the Board needs to know what those costs will be.
x. Regarding the Produce World project Mayor Krier had alluded to, Trustee Staackmann said
that, at the presentation, the Board was given the information that the Village would split the
cost of the new read three ways, with fhe Village, Produce World, and the Honda dealership
each paying one-third. It was never explained to the Board, until questions were asked during
the budgeting process, that the reality was that the Village would pay the entire cost of the
street upfront, with Produce World and the Honda dealership repaying the Village over aten-
;~ear period. Trustee Staackmann said he just didn't want any "eleventh hour surprises". He
wanted to know what the Village was getting into in terms of its costs from the start.
Trustee Staackmann asked if approving this resolution would make Alden the Village's sole
agent. Corporation Counsel Liston responded that, by approving the resolution, the Board is
authorizing staff to retain special counsel and to utilize the services of S.B. Friedman Associ-
ates to negotiate a redevelopment agreement with one entity, Alden. That makes Alden the
preferred developer at this time, however, the Village is not obligated to enter into an agree-
mentwith them. The only thing the Board is committing to at this point is to spend the out-of-
pocket costs to negotiate an agreement and get some of the concerns that have been raised
answered. Trustee Staackmann said another concern he has is that the Village doesn't know
how much money in TIF assistance or property discount Alden is looking for. If the numbers
reached several million, that's a large investmeht; witfi no guarantee for Morton Grove
residents to reside there.
z. Mayor Krier said there were a lot of false assumptions out there. He said it would be illegal for
Morton Grove residents to be "guaranteed" entry to this housing project. Trustee Staackmann
said the Village would be making a substantial investment in this project without any protection
to put Morton Grove residents first. Mayor Krier said Alden can do "preferences", as they've
done elsewhere. He also said that no one could say what the Village's investment in the pro-
ject would be until the negotiations begin. Ms. Demas said that, in their proposal, Alden's had
said they'd give community preference to Morton Grove residents. Their findings historically,
in their seven projects, are that 80%-90% of the residents in their properties come from the
local community. They cannot make it exclusive; that would be, as Mayor Krier said, illegal.
aa. Ms. Demas said that they can do a formal agreement, as they did in Barrington, but that would
need to be approved by HUD. She invited the Board to talk with other municipalities where
Alden is operating to find out their experiences as far as community preference.
ab. Trustee Staackmann asked if there was a way to make the project "exclusive" to Morton
Grove residents and their families. Ms. Demas said she didn't believe it could be done,
especially if State and Federal funding are involved. She said this would be a $20 million
dollar project, which necessitates outside funding.
'MinuYea WJantiary26,20098oard Maetirtg
X.
D. Trustee Minx: (continued)
TRUSTEES' REPORTS (continued)
ac. .Trustee Staackmann said he hoped Ms. Demos appreciated that he was just trying to safe-
guard the Village's investment, and thanked her for being forthright and professional. Trustee
Staackmann said he felt this was moving too quickly. He said he was not trying to be an ob-
structionist; he only wanted this project to be a benefit for the Village's residents.
ad. Trustee Marcus said he concurred with Trustee Staackmann's concerns, pointing out that
any money the Village uses for this project is basically coming from the residents. He said he
understood that Alden couldn't discriminate against anyone moving into the project, but he,
too, wanted to ensure that Morton Grove residents are getting a preference.
ae. Corporation Counsel Liston said that if the trustees are wondering if they could limit
occupancy to Morton Grove residents if the Village built senior housing on its own-without
funding assistance, the answer is no. There are State and Federal fair housing laws that
would make it very difficult. The Village could possibly rent or sell units to anyone, and offer
subsidies only to Morton Grove residents or relatives thereof. She said she was unaware of
any such agreements, however, and she was unaware of any community that has built a
project of this nature without State and Federal funding assistance.
TIF consultant Steve Friedman said he believed that the Village of Rosemont did something of
this nature, but he did not know the details.
af. Trustee Minx said she found it unusual that Trustee Staackmann would object to giving TIF
assistance to this project when he didn't seem to have a problem giving another developer
$5 million dollars-and that developer didn't give the Village anything for its seniors. She was
surprised by Trustee Staackmann's total about-face on this matter. Trustee Minx said she
opposed halting this project for six months, and didn't think Alden would want to provide the
Village with hard figures because their out-of-pocket expenses would be high with absolutely
no guarantees that they're a preferred developer for the Village whatsoever.
ag. Trustee Staackmann said that the Village's original agreement wifn~lliott Developers (the en-
tity that received the $5 million) had been negotiated before he was on the Board, and that
$5 million investment will generate approximately $40 million dollars over the life of the TIF.
He said it wasn't comparable because, at this point, the Village has no idea what amount of
TIF assistance would be requested for the Alden project.
ah. Trustee Minx said the Village would get hard numbers during the negotiation process, and
said that nothing's being given away tonight. Trustee Staackmann said that Alden has
mentioned they'd like assistance in the purchase of the land. Trustee Brunner pointed out
that they may have said that, but there's nothing definite about that yet, certainly nothing in
the resolution being debated.
ai. Trustee Thill commented that the Village is an aging community, and wondered if it would be
possible to do a "census" or a survey in the Village asking seniors if they would need or want
this type of housing. Mayor Krier said Trustee Thill was asking unanswerable questions,
looking for concrete numbers that the Village would have to pay to obtain. Trustee Thill said
he was looking for something less formal, perhaps a survey of all the members of the Village's
senior center, asking "Would you take advantage of this type of housing?" He wondered how
many seniors in town would. Mayor Krier again stated that this is unanswerable, and felt that
Trustee Thill was only asking for this information to justify waiting to act on this.
10
o,~ -
x.
D. Trustee Minx: (continued)
TRUSTEES' REPORTS (continued)
aj. Mayor Krier said that Morton Grove is getting a reputation as a town that can't make a deci-
sion, adding that there is no additional information that the Village can get in two weeks.
ak. Trustee Marcus said that he was in favor of the development moving forward, but in the hopes
of getting some questions answered, moved to postpone any action on Resolution 09-6 until
the next Board Meeting. Trustee Staackmann seconded the motion, and asked that all
residents reach out to the Village to comment on this project, to let the Board know how they
feel about it.
Mayor Krier called for a vote on the motion to postpone. Motion passed: 4 ayes, 2 nays.
Tr. Brunner ~ Tr. Kogstad aye Tr. Marcus aye
Tr. Minx Tr. Staackmann aye Tr. Thill afire
al. Mayor Krier apologized to Ms. Demas and said he hoped Alden wouldn't be discouraged by
this. He asked residents for their input about this, adding that he has already heard it foF#he
last four years.
2 Trustee Minx then brought forward Resolution 09-13, Authorizing Staff to Proceed with
Necessary Work to Refinance Municipal Bond Obligation Series 1999.
She explained that the Village's financial advisor, Speer Financial, has suggested that there is
a window of opportunity for the Village to avail itself of savings through refinancing its General
Obligation Bonds, Series 1999. This resolution will authorize Village staff to retain special
counsel and take all necessary steps to begin the refinancing process. It is estimated that
the savings over the life of the bond issue would be $460,000. The estimated cost of the re-
financing is $65,000, for a net savings of $395,000. Trustee Minx moved to approve
Resolution 09-13. Trustee Staackmann seconded the motion. Motion passed: 6 ayes,
0 nays.
Tr. Brunner a~ Tr. Kogstad awe Tr. Marcus aye
Tr. Minx aye Tr. Staackmann aye Tr. Thill aye
Trustee Brunner noted that the Board doesn't have "solid" numbers on this, but Trustee
Staackmann voted for it.
3. Trustee Minx said she was at an event recently and a person complimented Morton Grove on
having the "cleanest streets in town". She passed the compliment along to the Public Works
Department and said that they are very much appreciated.
Trustee Staackmann:
Trustee Staackmann had no formal report, but offered condolences to former trustee tarry
Gomberg, whose mother had just recently passed away.
91
'Minutes bfJaa4ary~6,~0098baM Meeting..
X.
3.
TRUSTEES' REPORTS (continued)
Trustee Thill
Trustee Thill presented Resolution 09-07, Authorization for the Purchase of a Three-
Wheeled Front Dump Sweeper (Pelican).
He moved to approve this resolution, seconded by Trustee Marcus.. Motion passed: 6 ayes,
0 nays.
Tr. Brunner aye Tr. Kogstad aye Tr. Marcus aye
Tr. Minx aye Tr. Staackmann aye Tr. Thill aye
Next, Trustee Thill presented Resolution 09-08, Authorizing the Execution of a Contract
with Ravenswood Disposal Service, Inc. For the 2009 Material Hauling Program.
Trustee Thill moved to approve this resolution, seconded by Trustee Minx. Motion passed:
6 ayes, 0 nays.
Tr. Brunner aye Tr. Kogstad aye Tr. Marcus aye
Tr. Minx aye Tr. Staackmann aye Tr. Thill aye
Trustee Thill then brought forward Resolution 09-11, Authorizing the Execution of a
Contract with the Davey Tree Expert Company for the 2009 Tree Trimming Program.
He moved to approve this resolution, seconded by Trustee Minx.
Trustee Marcus asked if the Village was still doing the 50/50 Tree Planting Program in the
spring. Trustee Thill asked if that program still existed. Director of Public Works Andy
DeMonte said that the program still exists, but last year only 14 people took advantage of it.
Trustee Marcus asked if the program would be promoted via the Village's newsletter.
Mr. DeMonte said yes. Trustee Marcus asked if the Village is still cutting down ash trees.
Mr. DeMonte said that's been stopped for now, but they will do it again in the spring.
Tr. Brunner aye Tr. Kogstad aye Tr. Marcus aye
Tr. Minx aye Tr. Staackmann ~ Tr. Thill aye
There being no further discussion, Mayor Krier called for a vote on Resolution 09-11. Motion
passed: 6 ayes, 0 nays.
4 Trustee Thill lastly presented Resolution 09-12, Authorizing the Execution of a
Professional Services Agreement with Ayres Associates, Inc. For 2009 Aerial
Photogrammetric Mapping.
He explained that Ayres Associates does one-fifth of the town every year. This will cost
$17,854. Trustee Thill moved, seconded by Trustee Minx, to approve Resolution 09-12.
Motion passed: 6 ayes, 0 nays.
Tr. Brunner aye Tr. Kogstad aye Tr. Marcus aye
Tr. Minx aye Tr. Staackmann aye Tr. Thill aye
12
.. ~ 'MinuU:S;ofJanua '26,~DD9SoaMtilleerin
X.
F. Trustee Thill: (continued)
TRUSTEES' REPORTS (continued)
Trustee Thili announced that the Morton Grove Foundation's "Taste of Paradise" would take
place on March 5. He had promotional posters for it and asked local businesses to display
them to show their support. Trustee Thill also asked for support for anon-proft organization
called Rebuild Together. It helps people who are low income with things like home
maintenance, such as new siding or paint. They're looking for homes that can use this service.
For more information, people should go to their web site "www.rebuildingtogethersc.com"
XL OTHER BUSINESS
a. Trustee Brunner said that she's had some conversations with Administrator Wade about
possibly establishing commercial waste hauling agreements in the Village. She asked
Mr. Wade to outline what that would look like.
Mr. Wade said that this is a program from SWANCC whereby the Village has one franchise for
commercial solid waste instead of multiple carriers. The Village could potentially make some
money on this. He felt it might be worth exploring; there are benefits and drawbacks. The
Villages of Skokie and Niles have this anal it seems tc be wcrking we!I for them.
Trustee Brunner asked if the Mayor could direct staff to explore this. He asked if there was
any particular timing on this, noting that the Finance Department is short-handed currently.
Trustee Staackmann said he concurred with this suggestion. He felt that there was a fuel
savings for the vendor too, and having one carrier would make the Village cleaner, with more
noise reduction. Mayor Krier directed staff to look into the feasibility of this.
Trustee Brunner thanked Building Commissioner Ed Hildebrand for information he provided on
water heater permits. She said she would like to see a reduction in the water heater permit
fee, which is currently $50. She agreed that the permit fee is necessary, but felt it should. be
in the $25-$30 rarige. Corporation Gounsetsaid the permit fee is set 6y ordinahce and the
ordinance can be amended, should the Board wish to do so. Trustee Marcus said he thought
other communities had water heater permit fees of $40. He noted that the fee exists as more
of a safety factor; once the permit is issued, an inspector can come in and check to make sure
the installation is correct and safe. He said he wasn't sure if he was comfortable reducing the
fee to $25 or $30. Mayor Krier said he would direct staff to come up with a dollar amount that
should be charged.
XII. WARRANTS
Trustee Minx presented the Warrant Register for January 26, 2009, in the amount of
$1,840,720.01. She moved to approve the Warrants, seconded by Trustee Thill.
Trustee Brunner had questions on page 4 and page 11, regarding utility bill corrections. She
wondered what was corrected. Acting Finance Director Ryan Horne responded that there had
been an issue over the summer as to how certain credits had been applied.
Trustee Brunner also asked about refund checks listed on pages 17-19. Mr. Horne said that
those were for water bill payments that residents had made as "final" versus "estimated".
73
Minutes nfJanuary 26, ~OA913nard7Vleefinq.
XII.
XIII.
WARRANTS (continued)
Trustee Thill said he was glad that the Village was making its last payment to the Elliott Group.
Trustee Marcus asked about a line item on page 7 for "Harry's Laundry". He wondered if that
was a local business. Mr. Horne said he didn't know, but he would find out.
Mayor Krier called for a vote on the Warrants. Motion passed: 5 ayes, 0 nays.
Tr. Brunner ~e Tr. Kogstad ~ Tr. Marcus
Tr. Minx aye Tr. Staackmann a~~e Tr. Thill aye
RESIDENTS' COMMENTS
a. Bill Zimmer, 7113 Greenwood. Mr. Zimmer commented that he felt there was a pressing
need for senior housing because about 18 months ago the management company from the
White House appeared before the Board for a request, and at that time, the waiting list for
residency was 150.
b. Harold Cohon. Mr. Cohon said tonight's performance by the Board was bad. He said the
Beard needed to make a decision on the senior housing, pointing out that all they would have
been agreeing to was to negotiate numbers. He then asked, "Are you waiting for all of us to
die?"
XIV.
XIV.
ADJOURNMENT/EXECUTIVE SESSION
There being no further business, Trustee Minx moved to adjourn to Executive Session
to discuss tiie sale of real estate; personnel; and labor negotiations. Trustee Brunner
seconded the motion. Motion passed: 6 ayes, 0 nays.
Tr. Brunner a~~e Tr. Kogstad a~~e Tr. Marcus
Tr. Minx a~ Tr. Staackmann aye Tr. Thill
The Board Meeting adjourned to Executive Session at 9:17 p.m.
Mayor Krier called the Executive Session to order at 9:30 p.m. In attendance were Mayor
Krier, Clerk Fritzshall, Trustees Brunner, Kogstad, Marcus, Minx, Staackmann, and Thill.
Also in attendance were Village Administrator Wade, Corporation Counsel Liston,
Community and Economic Development Director Neuendorf, and Steve Friedman and
David Stamm of S.B. Friedman and Associates.
There being no further business, Trustee Minx moved to adjourn the Executive Session.
The motion was seconded by Trustee Marcus and passed unanimously via voice vote.
The Executive Session adjourned at 10:28 p.m.
Trustee Minx then moved to adjourn the Regular Meeting, seconded by Trustee Marcus.
Motion passed unanimously via voice vote. The Regular Meeting adjourned at 10:29 p.m.
14
PASSED this 9th day of February, 2009.
Trustee Brunner
Trustee Kogstad
Trustee Marcus
Trustee Minx
Trustee Staackmann
Trustee Thill
APPROVED by me this 9th day of February, 2009.
Richard Krier, Village President
Board of Trustees, Morton Grove, Illinois
APPROVED and FILED in my office this 10th day of February, 2009.
Carol A. Fritzshall, Village Clerk
Village of Morton Grove, Cook County, Illinois
Minutes by'. Teresa Cousa~
15
MINUTES OF THE JANUARY 28, 2009, SPECIAL MEETING/OPEN HOUSE
OF THE BOARD OF TRUSTEES,
FIRE STATION #4 LOWER LEVEL MEETING ROOM
6250 LINCOLN AVENUE
MORTON GROVE, ILLINOIS 60053
Pursuant to proper notice in accordance with theOpen Meetings Act, the Special Meeting/Open
House was called to order at 6:35 pm by Mayor Riehaad Krier. Clerk Fritzshall called the roll.
In attendance were:
Elected Officials: President Richard Krier, Trustees Shel Marcus, Rita Minx, Dan
Staackmann, ai7d John Thin
Absent: Trustees Geozgianne Brunner and Roy Kogstad
Village Staff: Village Administrator Joseph. F. Wade, Community and Economic
Development Director Bill Neuendorf, Village Planner Bonnie
Jacobson, and Fire Ch ref Tan-~ Friel
Also Present: Tim Doron from KLOA, Jim Gamble from Land Design
Collaborative, and approximately forty residents..
Village Administrator Joseph Wade stated the presentation this evening would be centered on the
Lehigh/Ferris Avenue Proposed Streetscape and Roadway Improvements. He stated the Village
intends to improve the public infrastructure in the neighborhood surrounding the McYra train
station. Funding for this project has already been obtained and the construction is scheduled to
begin in the later part of 2009. The Village has already engaged engineering, haffic, and
iandseape professionals to study this area acrd prepare concept plans:
Mr. Tim Doron from KLOA (the Village's traffic consulting firm) sunmmarized the key aspects
of the traffic safety and parking in the area along Lincoln and Ferris Avenues. He noted
pedestrian safety and convervence was an important component when developing plans for this
area. The plan also calls for heavy truck traffic to be redirected.
Community and Economic Development Director Bill Neuendorf stated the Village has been
working with various consultants to provide guidalrce and gather ideas from other communities.
He noted this meeting was intended to share conceptual plans with residents and business owners
so any concerns or suggestions could be considered before the engineering plans were finalized.
Mr. Jim Gamble from Land Design Coila'oorative (the Viiiage's landscape design consultant)
summarized some key aspects of the overall landscape and streetscape design. He noted calming
traffic is a vital component to the design which can be accomplished by adding center medians
near Lincoh~ and Ferris Avenues and near Ln~coln and School Streets. These medians will be
used to announce a more pedestrian-oriented area of Lincoln a<ld Ferris Avenues. "Knucldes"
will be used to narrow portions of the street while still allowing for on-street paricing~.
"Knuckles" will actually reduce the distance pedestrians travel to cross the street thereby
creating additional safety. Street lights, planters, and street furniture such as beaches and
garbage receptacles will be placed at convenient locations for pedestrian use. Mr. Gamble also
noted the improved raih-oad crossing, which is being proposed, along with abicycle/pedestrian
walkway parallel to the Metres hacks is also being considered in future developmentplans.
AQr. Neuendorf then briefly recapped the presentations made by the consultants. He noted four
major components slated for public improvements, those included:
• Streetscape improvements along Lincoln Avenue from School to Ferris;
• Streetscape improvements along Ferris Avenue from Lincoln to Dempster;
• A bicyclelpedestrian walkway parallel with the Metres n•acks from Lincoln to Dempster; and
An improved railroad crossing at Lincoln. and Lehigh Avenues.
Mr. Wade concluded the professional presentation by discussing the priority of each of the
aforementioned projects. He noted some of the components can be constructed fairly quickly,
such as the streetscaping, while others will require a much longer construction time due to the
planning required between utility companies, state agencies, and Metres He noted the Village is
dedicated to all these improvements and will work diligently to achieve lasting aesthetic and
safety changes.
Mayor Krier then asked if Trustees or anyone from the audience had any questions for the
consultants or staff members. Various residents had a variety of questions related to the
proposed improvements which were answered. A general roundtable discussion then ensued
among all present.
Trustee Minx then moved to adjourn the Special Meeting/Open House. The motion was
seconded by Trustee Thill and approved unanimously pursuant to a voice vote at 9:10 pm.
Minutes by: Carol A. I'ritzshall
Special meefine minuCes.ol-28-09
AGTHORIZIN(C NEGOTATION OR A REDEVELOPMENT AGREEMENT WITH THE ALDEN
FOUNDATION FOR THE DEVELOPMENT OF AN AFFORDABLE SENIOR CITIZEN HOUSING
PROJECT IN THE LEHIGH/I+'ERRIS TIF REDEVELOPMENT DISTRICT
Introduction: January 26, 2009
Synopsis: This ordinance will authorize staff to negotiate and present to the Board for approval of a redevelopment
agreement with the Alden Foundation for the redevelopment of Site "B" at the southwest corner of Ferris and
Capulina Avenues.
Purpose: To negotiate a redevelopment plan which designates the Alden Foundation to construct and maintain an
affordably priced senior citizen. housing development.
Background: The Lehigh/Ferris Tax Incremental Financing (TIF)Redevelopment Area was created by Village ordinance in
2000. Upon the creation of the TIF, the Village acquired the right to assemble parcels within the TIF District
and enter into agreements with Chird parties for the redevelopment of these parcels consistent with the
.Village's plan for theredevefopmentofeheLehigh/Ferris'TtF'Uistrict. Thei999ComprehensivePlan
identified the development of new housing for senior citizens as a Village goal. Since 2001, tlYe Village has
acquired several small parcels of land along Ferris Avenue with the intention of assembling a site suitable for a
~
new developmen±. This area is often referred to as Site "B" and consists of approximately two acres located in
the Village's CR District. The Village has also held a series of public meetings seeking input on how best io
redevelop the plan. Considerable interest has been expressed for the redevelopment of this site for a senior
citizen affordable housing project. The Village solicited developers to submit proposals for the redevelopment
of this area and received five such proposals. The Village then entered into an open process tp review these
proposals. The Village held a special public meeting on December 16 where Alden and other developers
presented their proposal. The Corporate Authorities find the plan submitted by the Alden Foundation meets
the Village's needs, i.e., for the development of an affordably priced senior housing project in the area. This
resolution will authorize Village staff, special counsel, and the Village's TiF consultant, S.B. Friedman to
negotiate a contract with the Alden Foundation for the redevelopment of Site "B" for an affordably priced
senior citizen housing development. Any agreement negotiated will be subject to Che approval of the Village
Board. Due to the complexities of the redevelopment agreement, it is in the Village's best interest to use
special real estate consultants and special legal counsel. This resolution will authorize the V ii lage to retain
such experts.
_ Programs, Departs Administration, Legal, and Community and Economic Development Departments
or Groups Affected
Fiscal Impact: $5,000 to $15,000 for professional services related to the negotiations.
Source of Funds: Lehigh/Ferris TIF District
Workload Impact: The affected Departments will negotiate terms of the redevelopment agreement and process any papers
necessary during the normal course of business.
Admin Approval as presented
Recommendation:
First Reading: Notreyuired
Special Consider or ~ None
Requirements: ~~,, 1! ~ ~
i Respectfully submitted: C?.-~Rrs~ l~ , G.~'- Prepared by
Josep F. V'Jade, Vt age Administrator Teresa F.
~---
Reviewed by:"_ ~ ~/~.~'~ , _
BiII~Neuendor~-C`ommunityan Economic Development
Corporation Counsel
RESOLUTION 09-06
AUTHORIZING NEGOTIATION OF A REDEVELOPMENT AGREEMENT
WITH THE ALDF-.N FOUNDATION FOR THE
DEVELOPMENT OF AN AFFORDABLE SENIOR CITIZEN HOUSING PROJECT
IN THE LEHIGH/FERRIS TIF REDEVELOPMENT DISTRICT
WHEREAS, the Village of Morton Grove (VILLAGE), located in Cook County, Illinois, is a
home rule unit of government colder the provisions of Article 7 of the 1970 Constitution of the State of
Illinois, can exercise any power and perform any function pertaining to its government affairs,
including but not limited to the power to tax and incur debt; and
WHEREAS, the Village Board of Trustees adopted Ordinance Nos. 00-01, 00-02, and 00-03 on
January 24, 2000, approving the Lehigh/Fen•is Tax Increment Financing Redevelopment Plan and
Project (hereinafter referred to as the Lehigh/Ferris Redevelopment Plan) designating the Lehigh/Ferris
Tax Increment Financing District and adopting tax increment financing for the L,ehigh/Ferris Tax
Increment Financing District (hereinafter referred to as the Lehigh/Ferris TIF District); and
WHEREAS, the 1999 Comprehensive Plan identifies the development of new housing for
senior citizens as a Village goal; and
WHEREAS, the Corporate Authorities of the Village of Morton Grove can exercise certain
powers enumerated in Section 5/11-7.4-4 of the Illinois Tax Increment Allocation Redevelopment Act
as amended (65 ILCS 5/11-74.4-1 et seq as amended from time-to-time); and
WHEREAS, the Village has acquired several small parcels of land along Ferris Avenue sn~ce
2001 with the intention of assembling a site suitable for new development; and
WIIERBAS, the Village cleared the site of buildings and structures that suffered from effects of
age, deterioration, deferred maintenance, and obsolescence; and
WHEREAS, the Village assembled a development site, approximately 2.0 acres in size with the
zoning designation of C/R which allows the construction ofmulti-family, commercial, and similar
buildings; and
WHEREAS, the Village held a special public meeting on September 10, ?007, to discuss the
preferred uses, scale, and nature of the redevelopment concepts in order to solicit input from
representatives of the Plan Commission and the general public; and
WHEREAS, the Village contracted with S. B. Friedman & Company to prepare a Request for
Qualifications and Proposals (RFQ/P) so the transfer of the property could occur in an open and
transparent method that would obtain the best possible project at the best possible price at the time the
property is redeveloped; and
WHEREAS, the Village distributed the RFQ/P to approximately one hundred (100)
experienced real estate development companies and brokers who specialize in residential, commercial,
and mixed-use projects on March 28, 2008; and
WHEREAS, five (5) development groups expressed an interest in the propei•Cy in July 2008;
and
WHEREAS, the Village invited three (3) of these development groups to submit full proposals
to purchase and redevelop the site in a manner consistent with the goals and intentions of the
community; and
WHEREAS, in November 2008, the Alden Foundation submitted to the Village President and
Board of Trustees a plan Co redevelop the site for an affordably-priced senior housing project; and
WHEREAS, the Alden Foundation and the other two invited development groups attended a
special public meeting on December 16, 2008, and presented their proposals to redevelop the site and
answered questions regarding their proposals; and
WHEREAS, the Village President and Board of Trustees directed staff to collect additional
information from the three (3) development groups in response to questions ai7d concerns raised at tlus
meeting so complete information cou]d be available prior to selecting a preferred developer for the
site; and
WHEREAS, the Village President and Board of Trustees desire the terms of a Redevelopment
Agreement be negotiated in general compliance with the November 2008 proposal from the Alden
Foundation; and
WHEREAS, the Village President and Board of Trustees recognize the abilities of staff may
need to be supplemented by the use of real estate consrdtants and special legal counsel in order to
negotiate a Redevelopment Agreement that yields a successful project which upholds the long-term
interests of the Village.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF TI-IE VILLAGE OF MORTON GROVE, COOK COUNTY, ILLINOIS AS
FOLLOWS:
SECTION I: The Corporate Authorities do hereby incorporate the foregoing WHEREAS
clauses alto this Resolution as though fully sef forth therein thereby malting the findings as
hereinabove set forth.
SECTION 2: I"he Village hereby designates the Alden Foundation, 4200 West Peterson
Avenue, Chicago, Illinois 60446 as the preferred Developer for Site `B", and hereby authorizes the
Village Administrator, Corporation Counsel, Special Counsel, and Director of Community and
Economic Development and/or their designees and consultants to negotiate a Redevelopment
Agreement for the development of an affordably priced senior citizen housing development on Site
~~B„
SECTION 3: Said Agreement is subject to approval by the Village Board of Trustees.
SECTION 4; The Vil]age hereby authorizes the Village Administrator or his designee to retain
the services of S.B. Friedman and Company (real estate development and consultants), Miller,
Canfield, Paddock, and Stone, P.L.C. (as special legal comisel) aild other appropriate professionals for
the puaposes of negotiating said Redevelopment Agreement.
SECTION 5: In the event the Village is unable to negotiate, or agree to terms of a
Redevelopment Agreement with the Developer within ninety (90) days after the passage of this
resolution, unless otherwise extended, the Village Board reserves the right to choose a different
developer as its preferred`developer for the redevelopment of the selected site.
SECTION 6: If any provision of this resolution shall be held to be invalid or unenforceable for
any reason, the invalidity or unenforceability of such provisions shall not affect any of the remaining
provisions of this resolution.
SECTION 7: All resolutions, motions, or orders in conflict with this resolution are hereby
repealed to the extent of such conflict.
SECTION 8: This resolution shall be effective as of the date of its adoption.
SECTION 9: This Resolution shall be in full force azld effect from and upon its passage,
approval, and publication according to law.
PASSED this 9`~' day of February 2009.
Trustee Bivnner
Trustee Kogstad
Trustee Marcus
Trustee Minx
Ts~ustee Staaclcmaml
Trustee ThilI
APPROVED by me this 9`h day of February 2009.
Richard Krier, Village President
Village of Morton Grove
Cook County, Illinois
APPROVED and FILED in my office
This I Ot~' day of February 2009.
Carol A. Fritzshall, Village Clerk
Village of Morton Grove _
Cook County, -linois
$esolution U9-14
LPDATING A WRITTEN POLICY GOVERNING INVESTMENT ACTIVITY PURSUANT TO
PUBLIC FUNDS INVESTMENT ACT 30 ILCS 235/2 IN THE VILLAGE OF MORTON GROVE
Introducfion:
Synopsis;
Purpose:
Background:
Programs, Departments
or Groups Affected
Fiscal Impact:
Source of Funds:
Workload Impact:
Admin Recommendation
First Reading:
Special Considerations or
Requirements:
Prepared by:
J
February 9, 2009
This resolution will adopt an updated investment policy for the Village of Morton
Grove.
The Investment Policy serves as the written directive for investment practices of
the Village. The objectives of the policy are safety, liquidity and yield. This
update of the policy includes provisions regarding custodial credit risk and third
party custodial agreements, to provide practices safeguarding Village interests in
these areas. This policy is intended solely for Village funds and is not intended
for police and fire pension funds which are governed by separate boards. It is
understood the last update of this policy was 1999.
Village policies are periodically updated to address present day trends and
carsideraticns. The inelusior. of language addrees~ng custodial credit risk and
third party custodial agreements reflects these present day considerations.
Nothing in this policy supersedes Illinois statutes (30 ILCS 23512) which provides
restrictions on the investment of public funds.
Administration and Finance Departments
N/A
N/A
N/A
Approval as presented
Not required
None
CT
Administrator
Reviewed by
Teresa Hoffman Liston, Corporation Counsel
Reviewed by: `~~-~' /YC/GY~"~----'~
an H e. Acting Finance Director
RESOLUTION 09-14
UPDATING A WRITTEN POLICY GOVERNING INVESTMENT ACTIVITY PURSUANT
TO PUBLIC FUNDS INVESTMENT ACT 30 ILCS 235/2
IN THE VILLAGE OF MORTON GROVE
WHEREAS, the Village of Morton Grove (VILLAGE), located in Cook County, Illinois, is a
home rule unit of govermnent under the provisions of Article 7 of the 1970 Constitution of the State of
Illinois, can exercise any power and perform any function pertaining to its government affairs,
including but not limited to the power to tax and incur debt; and
WHEREAS, it is prudent for the Village of Morton Grave to maintain a written investment
policy to govern investment activity; and
WHEREAS. State Statute 30 ILCS 235 was amended to include Senate Bill 1555 which was
signed into law during 1998; and
WHEREAS, Section 2.5 of the amendment requires every unit of govermnent in Illinois to
Have a written U~.vestrnent policy in place by Jar.-carry 1, 2000; a..d
WHEREAS, the Village to be in compliance with the State Statute and adopted Ordinance 99-
53 on December 13, 1999; and
WHEREAS, to stay current with the written directive for investment practices, the update of
the Village of Morton Grove Investment Policy is necessary in order w provide the inclusion of
language addressing custodial credit risk and third party custodial agreements; and
WHEREAS, the attached investment policy meets all the regtirirements as required by State
statute 30 ILCS 235/2.5.
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF
TRUSTF,ES OF THE VILLAGE OF MORTON GROVE, COOK COi7NTY, ILLINOIS AS
FOLLOWS:
SECTION 1: The Corporate Authorities do hereby incorporate the foregoing WHEREAS
clauses into this Resolution as though fully set forth therein thereby malting the findings as
hereinabove set forth.
SECTION 2: The Village Board. of Trustees hereby adopts the updated investment policy for
the Village of Morton Grove which is attached hereto as Exhibit "A" and incorporated herein by
reference and further stipulates the attached investmentpolicy meets ail statutory requirements of the
state of Illinois.
SECTION 3: The VIllage Administrator and Acting Finance Director are instructed and
authorized to invest Village funds only under the terms and conditions provided for in the attached
inveshnent policy.
SECTION 4: This Resolution shall be in full force and effect from and upon its passage,
approval, and publication according to law.
PASSED this 9`~' day of February 2009.
Trustee Brunner
Trustee Kogstad
Trustee Marcus
Trustee Minx
Trustee Staacicmann
Trustee "fhill
APPROVED by me this 9`~' day of February 2009.
Richard Krier, Village President
Village of Morton Grove
Cook County, Illinois
APPROVED and FILED in my office
This 10`h day of February ?009.
Carol A. Fritzshall, Village Clerk
Village of Morton Grove
Cook County, Illinois
EXI-IIBIT "A"
VILLAGE OF 11~IOI2TON GLOVE, ILLINOIS
I1~TVES'I`MENT POLICY
><nvestments
It is always prudent for any govermnental unit to have an .Investment Policy for the puzpose of
safeguarding funds, maximizing income, and distributing equitably the investments of the
organization. The following policy is Hereby promulgated for use by the Village of Morton
Grove.
I. Governing Anthorfty
Legality; The investment program shall be operated in conformance with federal, state,
and other legal requirements, including but not limited to 30 ILCS 235/2.
II. Scope
This Investment Policy applies to the investment activifies of all funds under the
jurisdiction of the Village of Morton Grove (the Village). 'I`he Investment Policy will
also apply to any new or temporary funds placed under the jurisdiction of the Village.
Investment policies for the Police and Firefighter's Pensions are i~Cltide as part of this
policy and appear in the Appendix. Illinois state statutes will take precedence except
where these policies are more restrictive wherein they will then take precedence.
Pooling of Funds: Except for cash in certain restricted and special funds, the Village will
consolidate, when possible, cash balances from all funds to maximize investment
earnings. Investment income willbe allocated to the various funds based on their
respective participation acid. in accordance with generally accepted accounting principles.
III. C>enerat Objectives
The primary objectives, in priority order, of investment activities shall be safety,
liquidity, and yield:
Sa ~t ~: Safety of principal is the foremost o'ojective of the investment program.
Investments shall be undertaken in a manner that seeks to ensure the preservation of
capital in the overall portfolio. The objective will be to mitigate credit risk and interest
rate risk.
Credit Risk: The Village will minimize credit risk, the risk of loss due to the failure of
the security issuer or backer, by:
• Limiting investments to the safest types of securities addressed in this policy.
• Pre-qualifying the fnancial institutions, broker/dealers, intermediaries, and advisers
with which the ViIlage will do business; and
• Diversifying the investment portfolio so that potential losses on individual securities
will be minimized.
Interest Rate Risk: The Village will minimize the risk the market value of securities in
the portfolio will fall due to changes in general interest rates by:
• Structuring the investment portfolio so securities mature to meet cash requirements
for ongoing operations, thereby avoiding the need to sell securities on the open
market prip~tO,iT12tU~l~y;3nd- -- -- - . _
• Investing operating funds primarily in shorter-term securities, money market mutual
funds, or similar investment pools and limiting the average maturity of the portfolio
in accordance with this policy.
• Only purchasing securities with the intent to hold until maturity.
` Custodial Credit Risk: The Village will minimize custodial risk by:
• Using uriiy f nancial institutions and brokers meeting pre-established criteria
including but not limited to collateral equaling a minimum ofone hundred and ten
percent (110%) of the funds on deposit.
Holding all securities in the name of the Village of Morton Grove.
Liquidity The investment portfolio shall remain sufficiently liquid to meet all operating
requirements that may be reasonably anticipated. This is accomplished by structuring the
portfolio so securities mature concurrent with cash needs to meet anticipated demands
(static liquidity). Furthermore, since all possible cash demands cannot be anticipated, the
portfolio should consist largely of securities with active secondary or resale markets
(dynamic liquidity). A portion of the portfolio also maybe placed in money market
mutual funds or local government investment pools which offer same-day or next-day
liquidity for short-term funds:
Yield: The investment portfyolio shall be designed with the objective of attaining a
m~l~et, rate of retU 1 tauvngliv ut vudgetaiy artd eCOY10m1C CyCle5, taking lnt0 aCCOUIlt ine
investment risk constraints and liquidity needs. Return on investment is of secondary
importance compared to the safety and liquidity objectives described above. The core of
investments are limited to relatively low risk securities in anticipation of earning a fair
return relative to the risk being assumed. Securities shall not be sold prior to maturity
with the following exceptions:
• A security with declining credit may be sold early to minimize loss of principal;
A security swap would improve the quality, yield, or target duration in the portfolio;
or
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• Liquidity needs of the portfolio require the security be sold.
IV. Standards of Care
Prudence: The standard of prudence to be used by investmentofficials shall be the
"prudent person" standard and shall be applied in the context of managing an overall
portfolio. Investment Officers acting in accordance with written procedures and this
investment policy and exercising due diligence shall be relieved of personal
responsibility for an individual security's sxedit risk nr market price~hanges pxoviderl _ .
deviations from expectations are reported in a timely fashion and the liquidity and the
sate of securities are carried out in accordance with the terms of this policy. Investments
shall be made with judgment and care, under circumstances then prevailing, which
persons of prudence, discretion and intelligence exercise in the management of their own
affairs, not for speculation, but for investment, considering the probable safety of their
capital as well as the probable income to be derived.
Ethics and Conflicts of Interest: Officers and employees involved in the investment
process shall refrain from personal business activity that could conflict with the proper
execution and management of the investment program, or that could impair their ability
to make impartial decisions. Employees and investment officials shall disclose any
material interests in financial institutions with which they conduct business. They shall
further disclose any personal financial/investment positions that could be related to the
performance of the investment portfolio. Employees and officers shall refrain from
undertaking personal investment transactions with the same individual with whom
business is conducted on behalf of the Village.
Delegation of Authority: Authority to manage the investment program is granted to the
Director of Finance/Treasurer, hereinafter referred to as investment officer.
Responsibility foi the operation of the investment program is hereby delegated to the
investment off cer, who shall act in accordance with established written procedures and
internal controls for the operation of the investment program consistent with this
investment policy. Procedures should include references to: safekeeping, delivery vs
payment, investment accounting, repurchase agreements, wire transfer agreements, and
collateral/depository agreements. No person may engage in an investment transaction
except as provided under the terms of this policy and the procedures established by the
investment off cer. The investment officer shall be responsible for all transactions
undertaken and shall establish a system of controls to regulate the activities of
subordinate officials.
V. Safekeeping and Custody
Authorized Financial Dealers and Institutions: A list will be maintained of financial
institutions authorized to provide investment services. In addition, alist-also will be
maintained of approved security broker/dealers selected by creditworthiness (e.g., a
minimum capital requirement of $10,000,000 and at leastfive years of operation). These
may include "primary" dealers or regional dealers that qualify under Securities and
Exchange Commission (SEC) Rule 15C3-1 (uniform net capital rule).
All financial institutions and broker/dealers who desire to become qualified for
investment transactions must supply the following as appropriate:
• Audited financial statements.
• Proof4fNationaLAssooiafionofSecurities~~alErs~A.SDI-certifcation~
• Proof of state registration.
• Completed broker/dealer questionnaire.
Certification of having read and understood. and agreeing to comply with the
Village's investment policy. -
An amrual review of the financial condition and registration of qualified financial
institutions and brokerldealers will be conducted by the investment officer.
From time-to-time, the investment officer may choose to invest in instruments offered by
minority and community financial institutions. In such situations, a waiver to the criteria
under Paragraph 1 may be granted. All terms and relationships will be fully disclosed
prior to purchase and will be reported to the appropriate entity on a consistent basis and
should be consistent with state or local law. These types of investment purchases should
be approved by the appropriate legislative or governing body in advance.
Internal Controls: The investment officer is responsible for establishing and maintaining
an internal control structure designed to ensure the assets of the Village are protected,
from loss, theft, or misuse. The internal control structure shall be designed to provide
reasonable assurance these objectives are met. The concept of reasonable assurance
recognizes that (1) the cost of a control should not exceed the benefits likely to be
derived, and (2) the valuation of costs and benefits requires estimates and judgments by
management.
Accordingly, the investment officer shall establish a process for an annual independent
review by an external auditor to assure compliance with policies and procedures. The
internal controls. shall address the following points:
• Control of collusion:
• Separation of transaction authority from accounting and recordkeeping.
• Custodial safekeeping.
• Avoidance of physical delivery securities.
• Clear delegation of authority to subordinate staff members.
• Written confirmation of transactions for investments and wire transfers.
• Dual authorization of wire transfers.
• Development of a wire transfer agreement with the lead bank and third-party
custodian.
Delivery vs Pa ment: A11 trades where applicable will be executed by delivery vs
payment (DVP) to ensure securities are deposifed in an eligible financial institution prior
to-the release of funds. Securities will beheld by athird-party custodian as evidenced by
safekeeping receipts.
VI. Suitable and Aathorized Investments
Investment Types: The Village may invest in any type of security allowed by Illinois
statutes (30 ILLS 235/2} regarding the investment of public funds. Elpproved
iives`titiOItts inelllde:
• Bonds, notes, certificates of indebtedness, treasury bills, or other securities now or
hereafter issued, which are guaranteed by the full faith and credit of the United States
of America as to principal and interest;
• Bonds, notes, debentures or other similar obligations of the United States of America
or its agencies;
• Interest bearing savings accounts, interest bearing certificates of deposit or interest
bearing time deposits or any other investments constituting direct obligations of any
bank as defined by the Illinois Banking Act; and is insured by the Federal Deposit
Insurance Corporation;
• Short-term obligations of corporations organized in the United States with assets
exceeding $500,000,000 if (1) such obligations are rated at the time of purchase at
One Of the three highreSt elaSSifieationS established by at least tW0 Standard ratlrtg
services and which mature not later than 180 days from the date of purchase, (2) such
purchases do not exceed 10% ofthe corporation's outstanding obligations and (3) no
.more than 25% of the Village's funds maybe invested in short-term obligations of
corporations,
• Illinois Public Treasurer's Investment Pool (Illinois Funds);
Consistent with the GFOA Recommended Practice on Use of Derivatives by state and
local governments, extreme caution should be exercised in the use of derivative
instruments. Investment in derivatives of the above instruments shall require
authorization by the Village Board.
.Risk and Diversification: Assets held shall be diversified to control the risk of Loss
resulting from over-concentration. It is the policy of the Village of Morton Grove to
maintain a diversified portfolio. All cash and cash equivalent assets of the Village will be
diversified to eliminate the risk of loss resulting from anover-concentration of assets in a
specific maturity, individual financial insfitution, or a specific class of securities.
Diversification strategies within the established guidelines shall be reviewed and revised
periodically as necessary.
_____ Collateralization: It is the poles of the Village of Morton Grove and in accordance with _.
the GFOA's recommended practices on the collateralization of public deposits, the
Village requires funds on deposit in excess of FDIC limits be secured by some form of
collateral, The Village will accept any of the following assets as collateral;
® Government securities;
® Obligations of federal agencies;
• Obligations of federal instrumentalities;
• Obligation of the state of Illinois.
Repurchase Agreements: Repurchase agreements shall be consistent with GFOA
recommended practices on repurchase agreements.
Third-Party Custodial Agreements: The Village will execute athird-party custodial
safekeeping agreement with a commercial bank's trust department which is separately
chartered by the United States government or the state of Illinois. All securities
purchased and/or collateral obtained by the Village shall be properly designated as an
asset of the Village and held in safekeeping by the trust department andno withdrawal of
such securities shall be made from safekeeping except by an authorized Village staff
member.
Policies\investment policies\investment policy-genera! 2009
VILLAGE OF MORTON GROVE FIREFIGHTERS' PENSION FUND
~ ~~ INVESTMENT POLICY
DATE: September 30, 2008
A, PURPOSE OF AN INVESTMENT POLICY
The investment of public monies is a major responsibility and a statutory requirement of!
the Board of Trustees of"the Morton Grove Firefghters' Pension Fund (Firefighters'
Pension Board or MGFPF). The~urpose of this~ve~~emS_Po1i~yJS~a~nsiica`~e~
conscious, formal effort by the Firefighters' Pension Board to develop, implement, and
monitor the investment of all Morton Grove Firefighter Pension Funds. It shall also be
considered as the means to communicate to the Village Officials, taxpayers, members of
the Firefighters' Pension Fund, as well as any other person to whom investment
responsibilities and management are delegated. This policy is the Firefighters' Pension
Board's guidelines for the management of ifs assets and investment objectives
established for stewardship of pension funds.
It is the policy of the Morton Grove Firefighters' Pension Fund (MGFPF) to conform to all
state and local statutes governing the investment of public funds including adherence to
the. "prudent person" standard discussed below. It is the objective to invest public funds
in a manner which wilt provide the highest investment return for the level of risk taken
while meeting the pension benefit obligations and any other cash flow demands of the
Pension Fund.
B. SCOPE
This investment policy applies to the MGFPF and to those who interact with the MGFPF.
The investments of the plan will be diversified to minimize the risk of large losses, unless
it is clearly prudent not to do so. The Firefighters' Pension Board seeks to attain market
rates of return on its investments, consistent with constraints imposed.: by its safety.
objectives, cash flow considerations, the prudent person's standard, and Glinois state'
laws that regulate the investment of pension funds.
Each investment manager will be provided a copy of this investment policy covering the
whole Plan and will also be provided policies and objectives related to fiheir specific .
investment assignment.
G, PRUDENCE
The "prudent person" standard shall be applied in the context of managing an overall
portfolio. The prudent person standard shall be defined as follows:
"(nvestments shat! be made with judgment and care under circumstances Then
prevailing -which persons of prudence, discretion, and intelligence exercise in
the management of public retirement finds."
D. INVESTMENT POLICIES
Specific investment policies include:
1, Pension investments shall be sufficiently diversified to minimize the risk of large
losses. To this end, no more than 5% of the total porifio(io may be invested in one .
corporafion's securities. Mutual funds, commingled funds, and other similar'
pooled investment vehicles shall not be considered a single corporate security.
2. The MGFPF investment portfolio, in combination with the projected contributions
to the Plan, will provide sufficient liquidity to .enable the Plan to meet all
anticipated operating requirements
E. INVESTMENT OBJECTIVES
The investment objectives for the MGFPF shall be measured on a total return
- (appreciation/depreciation plus income) basis utilizing the market value of all assets.
Specific investment objectives include:
.. providing a return relative to the performance of a poiicy index comprised of 55%,
Lehman Brothers Intermediate Gov't Bond Index, 30% S&P 500 Stock Index, and
5% Russell 2000 Small Capitalization Index, and 10% All Country World Index
ex-US (ACWI ex-U5) Index;
2. perrormance in the top 40% of a universe of retirement funds with similar
investment mixes.
F. DELEGATION OF AUTHORITY
Management responsibility for. the investment program is the .responsibility of the
Firefighters' Pension Bcatd, which shall establish written procedures for the operation of
the investment program consistent with this investment policy. Such procedures shall
include explicit delegation of authority to other persons responsible for investment
Transactions and investment records.
No person may engage in investment transactions except as provided for by the terms of
this policy and the procedures established by the Firefighters' Pension Board. The
Treasurer of the Firefighters' Pension Board shall be the Chief Investment Officer for the
Fund and shall be responsible for implementation of all transactions undertaken and
approved by the Board, The Treasurer shall establish a system of internal controls to
regulate the activities on behalf of the Firefighters' Pension Board. Such controls shall
- - - - --- be designed to prevent losses. of public funds arising from frauds misrepresentation by - -- --
third parties, or imprudent acfions by fiduciaries, public officials, or others involved with
the MGFPF.
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G. ETHICS AND CONFLICTS OF INTEREST
Fiduciaries, officers, members of the Firefighters' Pension Board and any employees of
the Village of Morton Grove involved in the investment process shall refrain from
personal business activity that could conflict with proper execution of the investment
program, or which could impair the ability to make impartial investment decisions. These
individuals must disclose any material financial interests in financial institutions, dealers,':
or other entities that conduct business with the MGFPF to the Firefighters' Pension
Board President and Treasurer- Said individuals must further_disclose any -personal __
financial/investment positions that could be related to the performance of the MGFPF,
particularly with regard to the timing of purchases and sales.
H. AUTHORIZED, SUITABLE AND UNAUTHORIZED INVESTMENTS
Investments of the MGFPF are limited to those authorized by statutes governing
suburban and downstate firefighter Pension Funds (40 ILCS 5/4-128}, A summary of the
most recent section summarizing investments authorized by the Illinois .Pension Code,
the Public Funds Investment Act and unauthorized investments as issued by the Illinois'
Department of Financial and Professidnal Regulation -Division of Insurance (DOI) in its
`Handbook for Firer'ighter Pension Fund'` is attached as Exhibit "A" (authorized and
unauthorized investments) for reference purposes. It is the intent of this investment.
policy to include said section ss updated from time-to-time by the DO1 as Exhibit "A."
- Additional investments in instruments authorized by law are to be approved at meetings
held by the Firefighters' Pension Board of Trustees and this investment policy updated
accordingly,
The MGFPF will specifically avoid any direct purchase of financial forwards or futures,
options, derivatives and other instruments which will leverage the portfolio or cause
increased risk exposure to the assets..
1. BIDDING REQUIREMENTS FROM AUTHORIZED FINANCIAL DEALERS AND
INSTITUTIONS
When making direct purchases or sales of investments, it shall be the policy of the
MGFPF, to seek no less than three (3) competitive quotes from primary dealers or
national banks, both of which must be authorized to do business in the Stale of Illinois. .
Purchase will be made from the entity providing the most favorable, responsible bid to
the MGFPF. Documentation will be .retained for. all bids, with the mast favorable,
responsible bid clearly identified. If for any reason this was not the most favorable bid or'
if three (3) bids were not obtained, reasons for such action must be stated in the
-documentation:.., .-- _.... _. _.
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J. SAFEKEEPING AND CUSTODY OF INVESTMENTS
Securities will be held by a fhird party custodian in a custodial trust account designated'
by the Treasurer or authorized depository such as those utilized by any mutual fund
holdings. This trust account shall be established in a trust department of a national or
state bank or a trust dornpany authorized to conduct a trust business in the State of
Illinois, The securities shall be registered in fhe name ofthe Morton Grove Firefighters'
Pension Fund or in the name of a nominee created for the express purpose of
registration of securities by the trust department or trust company designated for
safekeeping. The responsibilities of the .custodian will include .collection of investment
earnings and monthly reporting of the performance and month end current market value
of securities held in custody. Monthly reports will be available to each member of the
Firefighters' Pension Board.
K. DELIVERY VERSUS PAYMENT METHOD REQUIRED FOR SECURITY
TRANSACTIONS
AI( individual security transactions entered into by the MGFPF shall be conducted on a
delivery versus payment (DVP} basis. That is, simultaneous to the release of funds to
purchase securities, there will be a delivery of the securities purchased to the third party
custodial (rust account. Likewise, for any sale of securities, there will be a simultaneous'
transfer of monies to the third party custodial account designated by the MGFPF. This
policy insures a transfer of monies or securities will not occur before fhe tither portion of
the transaction. Both transactions are to occur simultaneously through the custodial trust
accounf. This policy shall not conflict, however, with the normal and customary
methodology for the .purchase .and sale of mutual funds, separate accounts or
commingled funds.
I_. INVESTMENT MANAGER -HIRING OF AND RELATIONSHLP WITH FIREFIGHTERS'
PENSION BOARD
The Firefighters' Pension Board recognizes the ultimate responsibility for dsset value,
preservation, and growth rests with them. The Firefighters' Pension Board believes its
responsibility is best exercised by hiring and guiding an independent, professional
investmenf manager(s) .rather than self-administering the investment decisions. It is
recognized the expertise involves the determination of investment strategy, and security
selection must lie with the professional manager(s) and not with the Firefighters' Pension
Board of Trustees.. The Trustees believe they can instead, best exercise their
responsibilities by:
1. Setting guidelines and objectives which are mutually supported by the independent
-- - manager and the Firefighters' Pension Board; - __ _._ _ . .._..__.__ __... ....._ ..._ _ __..
2. Selecting-qualified investment managers;
3. Communicating closely with the investment managers;
4: Monitoring performance to insure the guidelines and objectives are being met; and
5. Taking appropriate action if guidelines and objectives are not being met.
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i Therefore, pursuant to the Illinois Compiled Statutes, the Firefighters' Pension Board
may enter inta an agreement whereby it hires investment managers to manage all or
part of the Firefighters' Pension Fund assets.
It is understood:
A person is an "investment manager" with respect to the retirement system or pehsion
fund established under this code as such person who:.
1. is a fiduciary appointed by the Board of Trustees of a retirement system or Pension
Fund in accordance with section 1-109.1;
2. has the power to manage, acquire, or dispose of any asset of the retirement system:
or pension fund;
3. is either:
a. registered as aninvestment advisortinder the Investment Advisors Act of 1940;
_ b. a bank as defihed in the Act;
c. or insurance company; and
4. has acknowledged in writing he is a fiduciary with respect to the retirement system or
pension fund."
5, has adequate insurance for "errors -and omissions" and has surety bond coverage at ,
levels deemed acceptable to the Board and naming the MGFPF as an additional
insured.
6. has agreed in a written contract to adhere to the "prudent investment expert"'
standard. This standard will explicitly state the manager will conduct his. (her) dufies
with the care, skill, prudence,. and diligence under the circumstances then prevailing.
a prudent ihvestment expert acting in a like capacity and familiar with such matters
would use in the conduct of an enterprise of a like character and with like aims;
provided, however, this standard of care shall in no case be, o[ interpreted to bed
less stringent or less restrictive than any investment standard or stahdards now in
effect or included by amendment effective in the future, prescribed for investments
by Illinois law.
All agreements with the manager(s) shall be in writing. All investments made by the
managers(s) shall conform with all aspects of this investment policy. The manager(s).
shall report to the Firefighters' Pension Board of Trustees on no less than a quarterly
basis. All investments made by the investment manager(s) shall be reviewed at each
------ quarterly meeting- of the- Firefighters'- Pension Board to insure- investments are- in--- - - -
compliance with Illinois law as well as its investment policy and shall take steps to ratify :.
that review at each quarterly meeting.
It is understood whether the investment manager has .discretionary authority (without
' requiring approval to purchase or sell investments from MGFPF} or nondiscretionary
(requiring approval to purchase or sell investments from the MGFPF), the investment
manager(s) must still comply with this. investment policy.
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' 'fhe manager(s) shall prepare a written report on a monthly basis and mail to the
MGFPF a copy of all investment transactions made each month by no later than the
tenth (TO} working day of the following month.
As a condition to act in any kirid of investment managerial capacity, said irvetmment
manager must sign a document that this investment policy has been read, fully,
understood, and will be complied wifh accordingly. Further, the Firefighters' Pension.
Board expects to be appraised of any significant changes in investment outlook and
_ __-- -~tr_ategy~as~elJ~s.rim pA~aq~ Chang.es_in~he-ncgaruzation-stru.cture~financial-coaditionr----
or senior personnel changes (including any personnel who will be assigned to any and
all aspects of the MGFPF) of the investment manager's firm.
M. :ACCOUNTING
The Firefighters' Pension Fund shall maintain its financial reports/records on the basis of
fund accounting. The Firefighters' Pension Fund is considered an accounting enfity j
separate from the other funds of the Village of Morton drove, All investment.:
transactions shall be recorded in accordance with generally accepted accounting
principles as promulgated with the Governmental Accounting Standards Board.
N. FINANCIAL INSTITUTIONS
It shall be the policy of the Firefighters' Pensioh Fund to select financial institutions for'
direct °in-house" investments of assets on the following basis:
1. Security. The Firefighters' Pension. Fund will maintain funds. in federally insured
financial institutions only. The Firefighters' Pension Fund will not maintain funds at
any financial institution in excess of the federally insured limitations without suf icient
collateral.
2. Size. The Firefighters' Pension Fund will not maintain deposits at any financial
institution in which total Village funds on deposit will exceed 50% of the institution's:
capital stock and surplus.
3. Statement of Condition.. The Firefighters' Pension Board may request from time-to-
time; an inspection of current statements of conditions for each financial institution
named as a depository. Any institution unwilling or unable to provide a current
statement of condition will have all pension funds withdrawn immediately upon notice
of refusal.
0. COLLATERAL REQUIREMENTS
Except for bank managed money market mutual funds (which by definition invests
directly in highly liquid government backed securities), deposits in excess of federally
insured limits in financial institutions will be required to be secured by some form of
collateral. The MGFPF will accept any of the following assets as collateral:
1. United States Treasury Bills, Notes or Bonds
2. United States Goverriment Agency Notes or Bonds as authorized by the Public
6
Funds Investment Act but excluding the government sponsored agencies prohibited
by the DOI.
The amount of collateral prdvided will not be less than 110% of the fair market value of
the net amount of MGFPF funds secured. The ratio of fair market value of collateral to'
the amount of funds secured will be reviewed quarterly by ,the Village Finance
DirectorlTreasurer, and additional collateral will be required when the ratio declines'
below the level required and will be released if the market value exceeds the required.
level. Pledged collateral will be held in safekeeping by a depository designated by the
MGFPF and evidenced by a safekeeping agreement. Collateral a reements will prohibit _
_-fhe re ease o t e .pledged assets without the authorized signature from the Village
Finance DirecforlTreasurer. The MGFPF ~eaGzes there is a cost factor involved with
co!!ateralization and wil! pay reasonable and customary fees.
P. FREQUENCY OF REPORTING
The Village Finance DireotorlTreasurer shat! submit a report to the Firefighters' Pension
Board on no less than a quarterly, as well as year end basis that provides: -
1. a statement of asse±s and liabilities (balance sheet};
2, a statement of revenues and expenses through the year to date;
3. a summary of reporting to include:
for all assets
market value
current yield at market
' cost value
Q EFFECTIVE DATE
for fixed income assets
par value
maturity date
coupon rate
for eouity assets
number of shares held
This policy was prepared under the authority of the Morton Grove Firefighters' Pension:'.
Fund. The policy will be effective as of the date of approval: A copy of the policy will be
distributed to the independent auditor of the Firefighters' Pension Fund as well as the
Village of Morton Grove Board of Trustees and to those who interact for investment'
purposes with the MGFPF. This policy shall be filed with the Division of Insurance within
thirty (30) days following adoption. Further, this policy shall be reviewed from time-to-
fime (r~o iess than annually} and any changes will be presented to the Firefighters"
Pension Board forapproval and distribution to the above parties.
Approval: September 30, 2008
Signature: ~ _
' ary Ibye, i efight s' Pension Board President
Signature: -~~ ~ ~.~4p
Cott Exo, Firefighters' Pension Board Secretary
7
MORTON GROVE POLICE PENSION FIJND
INVESTMENT POLICY
The Board of Trustees of the Morton Grove Police Pension Fund adopts the
fallowing Investment Policy set faith in this document an the date. indicated
below. All previous investment policies are hereby revoked and rescinded.
The Morton Grove Police Pension Fund is a defined benefit, single employer
pension plan. The defined benefits as well as the employee and municipal
contribution levels are mandated by the Illinois Pension Code, 40 ILCS 5/1-1~1
et sue., which can only be prospectively amended by the Illinois Legislature. The
Pension Code provides for retirement, death, disability and survivorship benefts
which are contractual in nature and cannotbe diminished or impaired.
Section 1.2 Statement of Purpose
(a) The purpose of this Policy is to establish a clear understanding
between the Board of Trustees of the Morton Grove Police Pension Fund, its
investment consultants, advisors, brokers, attorneys, custodians and the Village of
Morton Grove regarding the investment. objectives, goals and guidelines for the
Pension Fund's portfolio.
(b) This statement of Investment Policy is also intended to provide
meaningful guidance. in the management of the Pension Fund's assets and is not
meant to be overly restrictive given the changing economic, business, political
and investment market conditions.
Section 1.2 r4nnual Review
(a) This Investment Policy will be reviewed on an annual basis by the
Pension Board. Any modifications or amendments to this Policy will be
conveyed to the various entities and individuals working with the Pension Board.
Section 2.1 Investment Obiectives
(a) The primary purpose of the Pension Fund is to provide far the
payment of pension benefits to the participants and beneficiaries of the Pensian
Fund aver an infinite period of time.
{b) The assets of the Pension Fund are to be managed in accordance with
the applicable provisions of the Illinois Pension Code.
{c) Safety of principal shall also be an important objective of the Pension
Board. Each investment transaction shall seek to first ensure that capital lasses
are avoided, whether they be from securities, defaults or erosion of market value.
The Board shall seek to attain market rates of return on its investments, cansis±ent
with constraints imposed by its safety objectives, cash flow considerations, and
Illinois state laws that restrict the placement of public pension fund assets.
Section 2.2 Long Term Growth of Assets
(a) Over the long term, the assets of the Pension Fund and their
purchasing power shall be preserved. In the preservation of Pension Fund assets,
the Pension Board shall take into account the effect that inflation has on all
financiatassets:
(b) The Board's investment objectives do not exclude the possibility of
short term losses in .individual investment vehicles, but rather embrace
preservation of asset valuation on a long ternr basis.
~ectinn 2,3. Ar:ld°.,^,C.°.
(a) Investments shall be made with judgment and care, under
circumstances then prevailing, which persons of prudence, discretion, and
intelligence exercise in the management of their own affairs, not for speculation,
but for investment, considering the primary objective of safety as well as the
secondary objective of the attainment of market rates of return. The standards of
prudence to be used by investment individuals shall be that of a "Prudent
2
Person", as set forth in 40 ILCS 5/1-104(b) of the Pension Code and shall be
applied in the context of managing the overall portfolio.
(b} The members of the Pension Board, when acting in accordance with
written procedures and exercising due diligence, shall be relieved of personal
responsibility for an individual security's credit risk or market price changes,
provided that deviations from expectation are reported in a timely fashion, and
appropriate action is taken to control adverse developments.
Section 2.4 Allocation and Delegation of Fiduciarv Duties
(a} Pursuant to the provisions of the Pension Code, the Board of Trustees
may allocate their fiduciary duties among themselves ?nd designate o±hers to
carry out specific fiduciary duties, including but not limited to, the appointment
of investment managers and advisors.
Section 3.1 Investment Goals
(a} Based upon the investment objectives stated above, the primary goal
of the Pension Fund is to obtain a total return over a five year investment horizon
that exceeds the return of a balanced index •comprised of acceptable indices that
best represent the Pension Fund's assets and asset allocation. The following
indices will be used by the Pension Board to determine target investment
benchmarks:
(1) I3J Wilshire 500 Equity Index
(2) tviSCi Aii Country World ex-US Equiiy index
(3} Lehman Brothers Intermediate (1-10} Government Bond Index
(b} The secondary goal of the Pension Fund is to obtain a total investment
return over a five year investment period that exceeds the Consumer Price Index
plus 3%.
(c} The Board of Tmstees understands that in order to achieve its
investment goals, the Pension Fund will experience volatility of returns and
3
fluctuations of market value, as well as periods of losses. Losses will be viewed
in relation to the appropriate market indices.
Section 4.1 Performance Review
(a} Investment performance will be reviewed for the following periads:
(i) Most current quarter;
(ii) Year to date;
(iii) One yeaz;
(iv) Three years;
(v) Five years.
Section 4.2 Review Standards
(a) The Pension Fund's investment performance will be measured against
commonly accepted market comparisons.
(b} The investment review will address the following criteria;
(i) L?id the Pension Fund's results meet its stated goals and
objectives?
(ii} What market conditions existed during the review periad?
{iii} How mach risk did the Pension Fund take in achieving the
resuits during the review period?
{iv) How much real value was added to the Pension Fund?
(v} How did similarly managed pension funds perform during the
San"ie re`v'iew periad?
(c) The investment review for the periad in question will verify if the
investment results are consistent with the objectives and goals set far the in this
Investment Policy.
4
Section 5.1 Permissible Investment Instruments
(a) The Pension Board's permissible list of investments shall be those set
forth in 40 ILCS 5/1-113.2 through 40 ILCS 5/1-113.4 and 40 ILCS 513-135 of
the Illinois Pension Code.
(b) Any amendments or changes in the above statutory provisions will
automatically constitute an amendment to this Investment Policy.
(c) The Pension Fund's investments of common, preferred or convertible
preferred stock, separate accounts. managed by life insurance cornpanres and
mutual funds shall not exceed 35% of the market value of the Pension Fund's net
present assets as stated in the Fund's most recent annual report on f le ~,.~i±y t_h_°
Division of Insurance, with an additional 20% allowed to be invested in equities
through a mutual f nd or separate account of a life insurance company.
Section 5.2 Le ality of Investments
(a) If a particular investment was legal at the time of its inception,
subsequent illegality will not require liquidation of such investment at any time.
Section 6.1 Investment Parameters
(a) The Board of Trustees has adopted the asset allocation policy shown
below for Pension Fund assets.. Target percentages have been determined for
each asset class along with allocation ranges. Percentage allocations are intended
to serve as guidelines; the Board will not be required to remain strictly within the
designated ranges. Market conditions or an investment transition may require an
imbalance in asset mix.
5
MINIMUM MAXIMUM
Equities [ 10% ] [ 45% )
International Equities [ 0% ] [ 10% ]
Fixed Income & Cash [ 5% ] [ 90% ]
(b) Cash investments shall be defined as funds which can be quickly
liquidated without loss of principal. A 25% cash position is allowed only under
the assumption of extreme market conditions and should be limited to a 6-month
time period. Before or at that point,. the investment advisor is obligated to
address the Board concerning the cash position.
(c} Fixed income investments shall be defined as bonds; certificates of
deposit, fixed annuities or guaranteed investment contracts of an insurance
company and camrningled Trust accounts which only invest in the above
described investment vehicles. The fixed income portfolio should be managed
with a duration that is 30% above or below that of the Lehman Government Bond
Index.
(d) Equity investments shall be defined as investments of common,
preferred, or convertible preferred stocks, mutual funds or separate accounts of a
life insurance company.
Section 7.1 dnvestment Duties
(a) With regard to an investment or inveshnent course of action taken by
a Pension Board Trustee or any other fiduciary pursuant to his or her investment
duties, the requirements of 40 ILCS 5/1-109(b) of the Pension Code are satisfied
if:
(i} The trustee or fiduciary has given appropriate consideration to
Those facts and circumstances that the trustee or fiduciary knows or should
know are relevant to the particular investment, including the role the
investment plays in that portion of the plan's investment portfolio with
6
respect to which the trustee or fiduciary has investment duties; and (ii) the
trustee or fiduciary has acted accordingly.
(b) In carrying out investment duties, the following factors should be
considered:
(i) A determination that the particular investment is reasonably
designed, as part of the portfolio to further the purposes of the plan, taking
into consideration the risk of loss and the opportunity for gain associated
with the investment.
(ii) Consideration of`the following factors as they relate to such
portion of u'tc port olio:
(A} The composition of the portfoliv with regard
to diversification;
(B} The liquidity and current return of the
portfolio relative to the anticipated cash flow
requirements of the plan, and
(C} The projected return of the portfolio relative to
the funding objectives of the plan.
(c) Any fiduciary of the Pension Fund shall not knowingly advise the
Pension Fund to engage in an investment transaction that the fiduciary has any
direct interest in the income, gains or profits of the investment advisor making
the transaction or has a business relationship with the investment advisor that
would result in pecuniary benefit to the fiduciary.
Section 8.1 Ileleaation of Investment Duties
(a} The management and administration of the Morton Grove Polrce
Pension Fund's investment portfolio is the ultimate responsibility of the Board of
Trustees.
7
(b) Pursuant to the express provisions of the Illinois Pension Cade, 40
ILCS 5l1-109.1, the Board of Trustees may appoint one or more investment
advisors or managers to manage the assets of the Morton Grave Police Pension
Fund under the control and direction of the Pension Board.
(c) The selection o£ any investment advisors or managers will only be
made after the Pension Board has conducted a due diligence search and screening
of candidates, and only after the Pension Board has conducted a diligent review of
the candidate's expertise and background as it relates to: argaiiizational structure;
investment management style; client service; previous invesfsnent performance
and fee structure. The Pension Board may consider any other relevant cr=terra iea
its discretion.
Section 8.2 Ilstablishment of an Investment Committee
{a) The Pension Board may establish an Investment Committee of two or
more Trastees to carry out the selection process of investment advisors and
managers.. However, the fmal selection of any such advisors or managers shall
only be made by the entire Board of Trustees.
Section 8.3 Execution of Contracts or Agreements
(a) Each investment advisor or investment managerial agreement must be
approved by a majority vote of the Board of Trustees at a scheduled Pension
Board meeting and must be signed by the President and Secretary of the Pension
Board.
(b) Each investment advisor or managerial agreement must be reviewed
and approved for legal content by the Pension Board's legal counsel prior to
approval by the Pension Board.
{c) Any contract for the purpose of providing consulting services to the
Pension Board cannot exceed five {5) years in duration and no such contract can
8
be reviewed or extended. However, the contractor is eligible to bid or compete
for a new contract.
(d} Any proposal to provide consulting services to the Pension Board
must contain a disclosure of the names and addresses of the following.
(i) The offeror;
(ii) Any entity that is the parent corporation of, or own a
controlling interest in the offeror;
(iii) Any entity that is a subsidiary of, or in which. a controlling
interest is owned by, the offereor. - -
(e} Pursuant to the pravisians of ±he Pension Code, 40 IL,CS 5(1-101.4,
and. 40 ILCS 5/1-113.5, each investment advisor or manager must:
(i) Acknowledge in writing that he or she is a fiduciary; and
(ii} Is at least one of the fallowing:
(A} Registered as an investment advisor under
the Federal Investment Advisors Act of 1940
(15 U.S.C. §806-1, et sue.}
(B) Registered as an investment advisor under
the Illinois Securities Law of 1953;
(C) A bank, as defined in the Federal Investment
Advisors Act of 1940; or
(~) An insurance company authorized to transact
business in this State.
(fj Each contract described in subsection (c) above must contain a full
disclosure of direct and indirect fees, commissions, penalties, compensation and
reimbursements that may be paid by ar on behalf of the investment advisor ar
consultant in connection with the services rendered to the Pension Fund. This
9
disclosure statement shall be updated with any modification of the above
payments.
Section 8.4 Re orts
(a) Each investment advisor or manager shall be obligated to provide
either monthly or quarterly reports to the Pension Board.
(b) The Pension Board shall file an annual report to the municipality in
accordance with 40 ILLS 5/3-I43 of the Illinois Pension Code.
Section $.5 Acknoss~led~ement of Investment Policy
(a) Each investment advisor, consultant or manager retained by the
Pension Board shall acknowledge in writing the receipt of this Investment Policy.
Section 8.6 Monitoring of Investment Advisors and Managers
(a) The Pension Board may in its discretion retain consultants to monitor
anal review the perfannance of the investment advisors and managers that it has
retained.
Section 9.1 Cnstody and Safelteet5in~ of Investments
(a) All Pension Fund investments shall be held and accounted for to
indicate ownership by the Morton Grove Police Pension Board. The Board may
direct the registration of securities in their own name or in nominee name for the
expressed purpose of registration of securities by a national or state bank or trust
company authorized to conduct as a trust business in the. State of Illinois.
Custody ai a national brokerage fu°m is allowed if the account is insured by iiie
Security Investor Protection Corporation. (SIPC).
10
Section 10.1 Communications
The following persons are to receive copies of the statements, reports and
communications listed betow:
(A) Trade Confirmations
Village Treasurer, Secretary,
Investment Consultant and Accountant
(B) Monthly Statements
(C} Quarterly Performance
(D} Investment Advisor
Quarterly Reports
(B} Annual Report
{F} Legal notices, Complaints,
Summons or subpoenas
Section 11.1 Applicable Law
Village Treasurer, Secretary,
Investment Consultant and Accountant
All Trustees and Village Treasurer
AlI Trustees and Village Treasurer
Municipal Q£f.cials
All Trustees, and Pension Board
Attorney
This Investment .Policy and all investment contracts entered into by the
Pension Board shall be governed by the Illinois Pension Code and the laws o£ the
State of Illinois
Section 12.1 Non-arbitration Poliev
It shall be the policy of this Pension Board not to accept investment contracts
or agreements that contain binding arbitration provisions that preclude the
Pension Board's access to a court of law.
This Investment Policy is intended to be used as a guideline rather than a
rigid statement of policy from which there can be no deviations. The Policy
should be reviewed annually and changes made onty after review by the Board,
consultants, and investmont managers. It is the sole responsibility of the Board to
establish and maintain this written policy.
11
We the Trustees of the Morton Grove Police Pension Fund affirm that the
information contained in this Investment Policy Statement accurately reflects our
Fund's investment profile and our investment objective and goals.
We, the Trustees of the Morton Grove Police Pension Board adopt the
foregoing Investment Policy this ~9 day of ..~AticlA,eS~ ,
Board of Trustees
Morton Grove Polic Pension Board
l
By:
~~~~'~~ Secretary
0 Trustee
Trustee
Trustee
12
Legislative Summary
~- ORDINANCE 09-04
AMENDING TITLE 10, CHAPTER 1, ARTICLE A ENTITLED PERMIT AND PLAN REVIEW FEES
OF THE MUNICIPAL CODE OF THE VILLAGE OF MORTON GROVE
Introduced
Objective
Purpose:
Background:
Programs, Departments
or Groups Affected
Fiscal Impact:
Source of Funds:
Workload Impact:
Administrator
Recommendation:
First Reading:
Special Considerations or
Requirements:
February 9, 2009
To amend Title 10, Chapter 1, Article A of the Village Municipal Code
entitled "Permit and Plan Review Fees"
The purpose of this ordinance is to reduce the pei-:l~it fee for the replacement
of a water heater from $50 to $35 and amend the fee for
commercial/industrial parking lots.
At the January 26, 2009, meeting the Village Board of Trustees it was
determined to be in the best interest of the Village to reduce the permit fee
for the replacement of water heaters. This ordinance will reduce that fee to
$35 which is a midpoint of fees discussed at the meeting. Village staff has
also recommended t1_re fee for installation of new and replace??zent
commercial and industrial parking lots be adjusted to be consistent with other
fees.
Department of Building and Inspectional Services.
Negligible
Not applicable.
None
Approval as presented.
Required-Code Amendment
None
Administrator Approval ~'n~ G% Z'~Lu~
Jose i P. ode, Village Administrator
Prepared by:
Reviewed by:
Teresa Hoffman Liston, Corporation Counsel
Fd Hildebrandt, Building Commissioner
oRDI~aNCE as-o.~
AMENDING TITLE 10, CHAPTER 1, ARTICLE A ENTITLED
PERMIT AND PLAN REVIEW FEES
OF THE MtiNICIPAL CODE OF THE VILLAGE OF MORTON GROVE
WHEREAS, the Village of Morton Grove (VILLAGE), located in Cook County, Illinois,
is a home rule unit of govenm~ent under the provisions of Article 7 of flee 1970 Constitution of
the State of Illinois, can exercise any power and perform any function pertairvng to its
govenv~~ent affairs, including but not limited to the power to tax and incur debt; and
WHEREAS, the Village is continually in the process of reviewing and as necessary,
updating existing Municipal Ordinances; and
WHEREAS, the requirements of Title 10, Chapter 1, Article A entitled, "PERMIT AND
FLAN REVIEW FEES" were last reviewed in February 2008; and
WHERF;AS, the Village Board of Trustees have determined it is in the best interest of the
Village to lower the permit fee being charged for replacing a water heater; and
WHEREAS, review of Title 10, Chapter 1, Article A revealed modificatiorLS were also
needed related to commercial parking lots; and
WHEREAS, the Village is desirous of assuring all ordinances are kept current and
relevant,
NOW, THEREFORE BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF MORTON GROVE, COOK COUNTY, ILLINOIS AS
FOLLOWS:
SECTION 1: The Corporate Authorities do hereby incorporate the foregoing
WHEREAS clauses into this Ordinance as though fully set forth therein thereby making the
findings as hereinabove set forth.
SECTION 2: Title 10, Chapter 1, Article A, Section lA of the Municipal Code of the
Village of .Morton Cn~ove is hereby amended by repealing the Section in its entirety and replacing
it with a new Title 10, Chapter 1, Article A, Section lA to read as follows:
A. Building permit fees shall be calculated using the following schedule.
General construction:
Residential $8.00 pex $1,000 of valuation
Commercial and industrial $9.00 per $1,000 of valuation
Minimum fee X30.00
Residentaai detached garages:
Less than 300 square feet $50.00
301 to 450 square feet $100.00
Over 450 square feet $200.00
Drive~+ays and parking lots
Residential driveway (new/replacement) $50.00
Residential apron (parkway) (new/replacement). $50.00
Commercial and industrial parking lot $ 0.01 per square foot plus
or driveway (new/replacement) engineering fees
Minimum fee: $50.00
Miscellaneous
Fences (new/replacement) $30.00
Yard sheds $30.00.
Deck (3 steps or more above grade) $50.00
Fireplace $50.00
Swimmn~g pools (excluding plumbing and electric):
Abovegrotuld $50.00
h1-ground $200.00
Certif cafe of Occupancy:
Single-family $25.00
Multi-family (per unit) $10.00
Commercial and industrial $25.00
Demolition/Wrecking:
Accessory building (garage) $50.00
Residential primary building
First 1,000 square feet $1,000.00
Lach additional 1,000 square feet $500.00
Commercial and industrial
First 15,000 square feet $1,500.00
Each additional 15,000 sq ft $'750.00
Mechanical Equipment:
Residential furnace & air conditioner $50.00
Furnace only or air conditioner only $35.00
Other mechasiical appliance
Under 200,000 BTU $0.00
200,000 BTU and Larger $75.00
Fees for extraordinary building inspections (the initial inspection and one reinspection are
included in the base fee), or other inspections for which a permit fee has not been
assessed shall he at the rate of fifty dollars ($50.00) per hour.
SECTION 3: Title 10, Chapter 1, Article A, Section 3A of the Municipal Code of the
Village of Morton Grove is hereby amended by adding Water Heater Replacement after
`Backwater Vaive/Overhead Sewer" to read as follows:
Water Heater Replacement
$35.00
SIiCTlON 4: This Ordinance; shall be in full force and effect from and after its passage,
approval at~d publication in pamphlet form according to law.
I'ASS~D this 9`~' day of February 2009.
Trustee Brunner
Trustee Kogstad
Trustee Marcus
Trustee Minx
Trustee Staackmazm
Trustee Thill
APPROVED by n1e this 9°i day of February 2009.
Richard Iii`iar, Viilage President
Village of Morton Grove
Cook County, Illinois
APPROVED and FILED in my office this
10th day of February 2009.
Carol A. Fritzshall, Clerk
Village of Morton Grove
Cook County, Illinois
Legislative Summary
ORDINANCE 09-02 1
AMENDING TITLE 5, CHAPTER 9, SECTION 9 ENTITLED "MUNICIPAL PARKING ZONES"
OF TAE MUNICIPAL CODE OF THE VILLAGE OE MORTON GROVE
Introduced February 9, 2009
Objective To amend Title 5, Chapter 9, Section 9, of the Village Municipal Code entitled
"Municipal Parking Zones."
Purpose: To update the Village's regulations pertaining to municipal parking zones, particularly to
include the Village's new free of charge Dempster Street parking lots and to impose
certain parking regulations For these lots.
6aekgronnd: The Village, as part of its regular review of its Municipal Code has reviewed "title 5,
Chapter 9, Section 9 entitled "Municipal Parking Zones". This ordinance updates these
code provisions to include in the definition of municipal parking zones, off-street parking
Tots and parking areas owned or maintained by the Village whether free of charge or for
payment of an established fee. Due to the recent consri•uction of Village parking lots on
Dempster Street, staff has recommended changes be made to The section to preclude
persons 'from parking in the Dempster Street parking lots between midnight and 6:00 am.
Programs, Departments Police Department, Lega( Department and Public Works Department
or Groups Affected
FiscalImpact: Not applicable.
Source of Funds: Not applicable.
Workload Impact: Impact for the administration and enfa~cement of this ordinance will be handled by the
Administrator's office, Legal Department, Police Department, and Public Works
Department during their normal wurse of duties.
Administrator Approval as presented.
Recommendation:
First Reading: February 9, 2009, required-code amendment
Special Considerations or None
Requirements:
Administrator Approval _ ~rt ,~ yT , ~~~~~ _ Reviewed by: y?~~~2
Josepl r~. Wye, Village Administrator And ~ Monte, Director of
Prepared by: Reviewed by,' /` _:~"„'~ ~` -C "4.__.r;, ~%
Teresa I{offman Liston, Corporation Counsel '~~~ Paul l~. Tasch, Pol
ORDINANCE 09-02
AMENDING TITLE 5, CHAPTER 9, SECTION 9 ENTITLED "MUNICIPAL PARKING
ZONES" OF THE MUNICIPAL CODE OE THE VILLAGE OF MORTON GROVE
WHEREAS, the Village of Morton Grove (VILLAGE), located in Cook County, Illinois, is
a home rule unit of government under the provisions of Article 7 of the 1970 Constitution of the
State of Illinois, can exercise any power and perform any function pertaining to its government
affairs, including but not Limited to the power to tax and incur debt; and
WHEREAS, the Village is continually in the process of reviewing and as necessary,
updating existing Municipal Ordinances; and
WHEREAS, the provisions of Title 5, Chapter 9, Section 9 entitled "Municipal Parking
Zones" has been reviewed and found to be in need of updating; and
WHEREAS, the proposed revisions in this ordinance shall restrict parking in certain
municipal parking lots between the hours of midnight and 6:00 am.
NOW, THEREFORE BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF MORTON GROVE, COOK COUNTY, ILLINOIS AS
FOLLOWS:
SECTION I : The Corporate Authorities do hereby incorporate the foregoing
WI-IEREAS clauses into this Ordinance as though fully set forth therein thereby making the
findings as hereinabove set forth.
SECTION 2: Title 5, Chapter 9, Section 9 of the Municipal Code of the Village of Morton
Grove is hereby arnended to read as follows:
5-9-9: MUNICIPAL PARKING ZONES:
A. Definitions:
MUNICII'AL PARKING An off street parking area owned or maintained by the
ZONE V i~llage where permitted vehicles may be temporarily parked
free of charge or for the payment of an established. fee as
determined by the Village Board of Trustees.
PARKING METER A mechanical device located upon apublic street, sidewalk, or
at a designated Metra commuter parking area, or in a
designated municipal parking zone which device records the
payment of a fee or the deposit of currency, or the use of a fare
card, for which parking privileges may be extended..
B. Use of Parking Space: It shall be unlawful for any person to park within or otherwise use a
municipal parking zone of the Village of Morton Grove except pursuant to the provisions of
this chapter.
C. Parking Fee Required: No person shall park or cause to park any vehicle in a Metra
commuter parking area, or a municipal parking zone or upon a public street equipped with a
parking meter without paying the established fee.
D. Time Restriction: No vehicle shall be parked in a muncipal parking zone for more than
twenty-four (24) hours. No vehicle shall be parked in any of the fol]owing municipal
parking lots between the hours of midiught and 6:00 am:
5714 Dempster 5821-5831 Dempster. 6055-6061 Dempster
Special permission for extended parking iu municipal parking zones may be given by the
Chief of Police or his designee. Any vehicle parked in violation of this section shall be
considered an unlawful vehicle azrd shall be subject in addition to any other penalty to
` towing pursuant to Chapter 7 of this title.
E. Bxemption: Parkingshail'oe allowed in municipal parking zones without the requireruent of
a payment of a fee each year on the 4`" of July and on other days as designated from time-to-
time by the Village Administrator.
P. Vehicles Permitted: Use of municipal parking zones shall be limited to passenger
automobiles, and trucks with a passenger of `B"license plate, acid in no event shall a
commercial or freight carrying vehicle, trailer, or a velticle exceeding eight feet (8') in width
or twenty feet (20') in length including attachments thereto, be parked in a municipal
parking zone.
U: Placements: Parking meters may be installed in a municipal parking zone as established and
provided for by ordinance.
II. Tampering Prohibited: No person shall deface, injure, tamper with, open or willfully break,
destroy or impair the usefulness of any parking meter installed under the provisions of this
section.
No person shall deposit any slug, device: or other substitute for a coin in any parking meter,
or otherwise manipulate, operate, attempt to manipulate or operate in any manner
whatsoever ar7y such parking meter with the intent to park in a parking meter zone without
paying therefore. (Ord. OS-51, 11-28-OS)
SECTION 3: This Ordinance shall be in full force and effect from and after its passage,
approval and publication in pamphlet foml according to law.
PASSED this 9`" day of February 2009.
Trustee Brunner
Trustee Kogstad
Trustee Marcus
Trustee Minx
Trustee Staackmaam
Trustee Thill
APPROVED by me this 9`h day of February 2009.
Richard Krier, Village President
Village of Morton Grove
Cook County, Illinois
APPROVED and FILED in my office this
10`x' day of February 2009.
Carol A. Fritzshall, Village Clerk
Village of Morton Grove
Cook County; lllinols