04/18/2005 Meeting Minutes - Laserfiche WebLink

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Regular Council Meeting 4-18-OS Page 15 First Reading of Ordinance No. 2005-16, entitled: "An emergency ordinance authorizing the Mayor to enter into a development agreement with Panzica Investments." Introduced by Mayor Rinker and Council as a Whole. (as amended) Mr. Marrie, seconded by Mr. Saponaro, made a motion to suspend the rules of Council requiring an ordinance to be read on three separate occasions. Roll Call: AYES: Mr. Buckholtz, Mrs. Cinco, Mr. Marrie, Mrs. Mills, Dr. Parker, Mr. Saponaro NAYS: Mr. Marquardt Motion Carried Rules Suspended Mr. Marrie, seconded by Mrs. Mills, made a motion to enact Ordinance No. 2005-16. Council President Buckholtz asked if there was any discussion. Mr. Marquardt said as I look at this agreement and it would appear that we are going to be paying Panzica Investments $50,000. There is little guarantee that we would get any additional jobs in the Village; it is strictly time related. If it did pan out as laid out here, it would take 3-4 years to recoup the investment that we made based on the revenue income. There is also some question in my mind as to what kind of precedent this will set for our existing tenants when they want to renew their leases and they want to come back to the Village looking for a similar offer. In short; I think that this type of development method or development plan needs a lot more thought and a lot more consideration before the Village acts on something like this and needs to be considered in a broader sense than just the agreement with Panzica. Dr. Parker said I am having a hard time understanding the financials in terms of I don't understand why they need us to supplement their investing corporation or whatever by that amount. I mean it actually does not seem like that much money especially for a successful company and I guess I just don't understand what, as Mr. Marquardt is saying, what kind of precedent we are setting, what message we are spending and why we need to give him $12,000 the first year or whatever it is and I haven't heard any explanation. I mean, do they need the money? Is it something that they should be burdening on themselves if they want to try to develop these companies within their own leasing space. I mean, isn't that an investment they would want to make in their company? I guess I have a hard time seeing why we need to give that kind of money and I would like explanation, I guess. Council President Buckholtz said Tony Panzica is here. I would like to invite him to come up to the microphone and feel free to answer the conversation; tell us what you are thinking. Tonv Panzica - said I have been a part of the Village for almost 25 years now. We were here during the inception when Beta Drive was a manufacturing office warehouse-type base. If you look at what has been happening within the Village and what has been happening on Beta Drive and you see that the park has become tired. There is a lot of empty space out there right now and ? it is really at a point where we need a change. I participated on the 2020 Vision Committee on a limited basis but I can see what is needed there. What is happening in other communities is other