Village of Lombard Legistar System

Clerk Gerhardt read six Proclamations.

1. Breast Cancer Awareness Month in October

2. Fire Prevention Week October 11-17, 1998

3. Junior Women's Week October 11-17, 1998

4. United Way Month in October

5. Honoring Ian M. Chapman

6. Customer Service Week October 3-10, 1998

President Mueller reminded all of Character Counts week beginning with a pancake

breakfast October 18, 1998.

Trustee Tross related a Character Counts experience where his wallet was returned

with all contents intact. He also wished his 1 year old granddaughter a Happy Birthday.

Penny Arnold, 527 Washington, spoke urging the Board to support the plans of the

DuPage Millennium Organization to renovate the DuPage Theater. She also presented

three alternatives.

Frank Femali spoke urging the Board to consider the Big Ideas proposal and expressed

a great excitement regarding the Big Idea quality of work.

Edlyn Andrlik, 65 E. Washington, spoke as the President of Downtown Lombard United

in support of the proposal for Big Idea.

Gary Bird, 33 N. Main Street, spoke as President of his downtown Condominium

Homeowners Association and as President of the Lombard Historical Society and urged

a large affirmative vote for the Big Idea proposal.

Lawrence Bouldin, 135 W. Greenfield, spoke as a citizen and as a member of the

Lombard Historical Commission. He pointed to his support of Historic Preservation, the

Arts and the economic development of Lombard. He supported strongly the proposal of

Big Idea, Inc. as the most viable solution and strongest economic contribution to

Lombard.

Bud Carlson, 62 N. Lincoln, spoke urging all to listen with an open mind.

Doug Christensen, 301 W. Goeble Drive, indicated he had reviewed the Big Idea

proposal and found it to be a sound proposal.

Bruce Church 1064 Apple Lane stated that he believes a viable business is the way to

go, but he also hopes the Village will realize the kind of improvement it deserves.

Steve Hoffman 205 S. Main pointed to his business, the Dairy Queen as a definite

downtown anchor. He stated that he is fully in support of the Big Idea proposal and on

behalf of DLU urged the Board to vote in favor.

Brian Johnson, 18 W. Berkshire, as a realtor he believes the Big Idea proposal should

be accepted.

Pete Kramer, 272 E. Taylor, spoke at length of previous proposals to restore the

Theater. He mentioned that Laura Croshere was instrumental in obtaining the Historic

Status of the Theater.

Chip Lidicker 76 Lake Lane, Fox Lake, former resident of Lombard and former

President of the Lombard Historical Society, hopes that the proposal of Big Ideas would

be considered. He stated that the Society would not be able to afford it. He said that it

would take continuing funds. He feels this is a win win situation that combines

restoration and resources.

Joseph Wimberly, 39 S. Glenview, He spoke regarding the corner restaurant owned

by his father (the Blue Plate), as well as stores in the building. His family has restored

much of the building. He asked the Board to consider what can be done to help, he

feels that they are caught in the middle.

Steven A. Zeidler 1475 Poplar Court, as a resident of District 3 and President of the

Chamber of Commerce. He reminded the Board of a letter from the Chamber back in

August in support of the Big Idea proposal. He indicated that the Chamber is very

excited to have Big Idea join us in Lombard.

Marty Burke 245 W. Maple read a list of other residents who, with him, urge acceptance

of Big Idea's proposal. He assured all that if the Theater could become an economic

success it would have been done long ago. He urged approval of the proposal.

Paula Cisneros 145 S. Collen Dr. spoke in favor of Big Idea and believes that there is

integrity in their offer. She thinks that the Blue Plate should be given some

consideration.

Trustee Kufrin commented on the idea of the Blue Plate and that the Economic

Development Committee was looking at relocation of the businesses but if they had to

leave temporarily, it was hoped they would be welcome back. He said that most of the

Trustees want to save the Theater and that this is the way. He stated that he is thrilled

with the Big Idea proposal.

The following staff report was given by David Hulseberg.

Background:

Since March of 1998, staff has been working with representatives of Big Idea

Productions to encourage their location into the Village of Lombard. Big Idea is a top 5

children’s video producer. Presently, Big Idea employs some 65 employees with

suggested employment of growth of up to 300 employees in the next three years.

Subject to the approval of a redevelopment agreement by the Village Board, Big Idea

desires to acquire the DuPage Theater and Shops (101-109 S. Main Street) and the

northern 145 feet of the Brust property (119 and 125 S. Main Street) for the purpose of

creating a corporate headquarters. Big Idea seeks to renovate the north and west

facades of the DuPage Theater and Shops, its marquee, as well as the interior of the

theater. This renovation will substantially restore those areas to their circa 1928

splendor. Big Idea will completely rehabilitate the balance of the structure for restaurant,

retail and office use. New construction of a 35,000 square feet office addition will be

simultaneous to the DuPage Theater and Shops renovation. The estimated investment

by Big Idea into these improvements is in excess of eight million dollars. Big Idea

intends within a four year timeline to construct an additional 60,000 square feet office

structure to meet their growing needs. The estimated investment by Big Idea into these

improvements is in excess of seven million dollars, bringing the total to a possible 15

Million.

Due to community interest and Big Ideas’ desire to maximize its significant investment in

the DuPage Theater, the theater will play host to numerous public events to be either

directly sponsored by Big Idea or approved by them. These types of events include:

family films, classical films, cartoon films, family events, musicals, concerts, orchestras,

and others. Big Idea will utilize the theater as part of daily tours of the facility and their

animation process. Big Idea will also use the theater for screenings and live audience

filming. Since the theater is an important part of Big Idea and its use of the theater is

part of its operation, the use by outside organizations of the theater is subject to Big Idea

approval, scheduling, and programming. Big Idea will welcome input and suggestions for

special events to be held at the theater.

Salient Points of Redevelopment Agreement:

The attached redevelopment agreement provides for the following:

¨ Big Idea acquires the DuPage Theater and Shops and the Brust property as a private

transaction.

¨ Big Idea agrees not to demolish the DuPage Theater and Shops.

¨ Big Idea grants the Village of Lombard first right to purchase the DuPage Theater and

Shops in the event that it should desire to sell it.

¨ Big Idea will rehabilitate the DuPage Theater and Shops, the north and west facades,

the marquee and the interior of the theater, all in substantial compliance with its 1928

design.

¨ Big Idea will hold a minimum of 100 public events in the theater and opportunities to

utilize the same by outside organizations will be granted at the discretion of Big Idea.

Big Idea will establish written guidelines for special events and will make said guidelines

available to the Village, civic and community organizations and members of the public.

¨ The Village of Lombard agrees that Big Idea may seek up to $200,000 to renovate 4

storefronts of the DuPage Theater and Shops with no single storefront receiving more

than $50,000 of Village contribution on a 50/50 reimbursement basis.

¨ The Village will grant necessary off-site detention or variations for such detention.

¨ The Village will return new tax increment until the year 2004 created as a result of the

Big Idea development on the DuPage Theater and Shops property. No new tax

increment generated on the Brust property shall be returned. The estimated value of

this economic incentive is $729,911 to $911,350. No monies are paid to Big Idea in

advance, funds are disbursed after collection and receipt by the Village. No monies are

to be disbursed to Big Idea until the DuPage Theater and Shops are rehabilitated and

certificate of occupancy is issued for that structure.

Summary:

The proposed redevelopment agreement provides relatively $1.1 million in economic

development incentives to Big Idea. Of this $200,000 are funds that any other business

could have sought as part of the Village’s Downtown Improvement Facade and Grant

Program. The balance of that incentives package are new tax increment monies

created as a result of Big Idea’s development. Hence, without Big Idea purchasing and

adaptively reusing the DuPage Theater and Shops property this tax increment would not

have been created.

In return for this economic development incentive package, the Village of Lombard and

other taxing bodies will receive between $200,000 and $340,000 annually after the

expiration of the TIF (last payment received 2005). At present, the DuPage Theater and

Shops pays approximately $10,000 annually in property tax. In the five years after the

expiration of the TIF, this property will generate through property tax $1,000,000 to

$1,700,000 to the various taxing bodies.

Big Idea affords the Village an opportunity to immediately improve a property which is an

eyesore and source of blight on the community. This improvement will restore a

splendor in the property. The economic development incentive package offered has no

financial impact on the projected revenues of the TIF and no financial risk to the Village.

The Village retains control of the distribution of funds to Big Idea and should they fail to

meet their obligations the Village has the ability to not make payment Hence the purse

strings relating to the project are controlled by the Village.

The economic impact on the community through increased employment in the

downtown and significant financial investment in the property only increases the

desirability of this project.

Phil Visher, President of Big Idea, reviewed his personal history. He grew up in Glen

Ellyn, graduated from Glenbard West. He related how Character Counts values are no

longer being taught and he wanted to help make a difference by teaching such values

through childrens' video. He then reviewed how they operate and how they want to

develop the theater and its operation.