Welcome to 3rdWard.org, a website dedicated to communication and transparency between Des Plaines City Government and you. This website, maintained by 3rd Ward Alderman Denise Rodd, is designed to keep neighbors engaged in their community and informed about issues.

Entries in Economic Development Committee (2)

Monday
Feb062012

Huge 5% Tax Increase Avoided - Working To Fix Yesterday's Problems

Tonight's meeting was filled with high stakes decisions.  The biggest - TIF #6 began as an exciting hotel development and wound up stuck in a legal and financial mess for years.  One of the first moves we made three years ago was to refinance the bond debt of ~$10MM to buy us some time.  Since then, we went out for an RFP to find a developer who could turn this liability into an asset for the city.  Put in simple terms, if we did nothing...we would be forced to increase taxes by 5% next year or cut deep into city services (ballpark: $220k revenue per 1% property tax increase) in order to find the $1,125,000 in debt payments.  This pain would ratchet up annually, making future budgets bleak.  The time for action was now.  

If we did nothing, we'd be $19MM in the hole by 2025.  Conservative estimates suggest the approved project and it's 5 revenue sources (property, sales, parking, hotel, & food/bev tax) will produce something between $14-21MM by 2025...that's potentially a +$40MM swing.  This is a huge win for taxpayers.  

I'm excited to be a part of this positive momentum that's changing the way DP does business.   More to come...

Monday
Feb072011

City Council Meeting: 02/07/11

I wanted to take a brief moment to thank all those who volunteer on the City's many boards and commissions.  Their work is often thankless and has a great impact on the day-to-day operation of the City.  At tonight's meeting, some Aldermen found fault with the procedures of the Economic Development Commission.  I supported the re-nomination of the committee members as their long service and deep experience serving Des Plaines deserves the Council's respect.  Discussion of rules, procedures, and leadership of commissions will be saved for another night.  

We changed web hosting providers tonight.  Over the next few months, we will be moving www.desplaines.org to this new provider while working to design a content management system (CMS).  This new CMS will allow City Staff to make routine changes to content on site, an upgrade that will save us 50% annually on website costs.