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CITY COUNCIL 3-21-1996THE CITY OF LAKE FOREST COUNCIL AGENDA March 21, 1996 I. CALL TO ORDER AND ROLL CALL Honorable Rhett W. Butler, Mayor John E. Preschlack, Alderman First Ward Gail T. Hodges, Alderman Third Ward Cornelius B. Waud, Alderman First Ward Henry T. Chandler, Alderman Third Ward Abigail G. Fassnacht, Alderman Second Ward Richard C. Ernest, Alderman Fourth Ward Howard J Kerr, Alderman Second Ward Mary Ann Pekarek, Alderman Fourth Ward II. REPORTS OF CITY OFFICERS, APPROVAL OF MINUTES, CONSENT AGENDA, AND ORDINANCES 1. Reports of City Officers a. Comments and Initiatives by Mayor b. Comments by the City Manager c. Comments by Council Members 2. Approval of Minutes Recommended Action: Approval of the minutes of the March 4, 1996 Council meeting attached beginning on page 5. 3. Consent Agenda a. Proclamation of National Library Week Mayor Butler will proclaim April 14 through April 20 as National Library Week with the theme, “Libraries Change Lives. Call. Visit. Log On.” Recommended Action: Proclamation of April 14-20, 1996 as National Library Week as stated in the proclamation attached as page 12. b. Acceptance of the Report and Proclamation from the Lake Forest Canvassing Board Regarding Results of the March 19, 1996 General Election State Statute requires that a Canvassing Board, consisting of the Mayor, City Attorney and City Clerk/Deputy meet to verify the returns from each municipal election. The returns are prepared for the City by the County Clerk’s office. Attached as page 13 is the proclamation declaring the winners in all elected offices. Recommended Action: Acceptance of the Lake Forest Canvassing Board report and proclamation. 4. Ordinances a. Consideration of an Ordinance Authorizing the Sale of Surplus Public Real Estate (Meadowood Park) (First Reading) PRESENTED BY CITY MANAGER BOB KIELY At the August 7 City Council meeting, the Council approved submitting a petition to the Plan Commission for the subdivision of Meadowood Park. The initial proposal included a 12-lot subdivision and an eight acre passive open space along the north branch of the Chicago River. In preparing the engineering drawings, it became clear that additional on-site detention would be required to meet Code, thus reducing the number of single-family lots to ten. Attached as page 14 is a revised plat of subdivision approved by the Plan Commission on February 14, 1996. On March 4, the City Council gave first reading approval of an ordinance rezoning Meadowood Park to allow the subdivision and granted tentative approval of the proposed plat of subdivision. State statute requires that before public real estate can be sold, an ordinance must be approved designating the property as surplus public property. Attached beginning on page 16 is an ordinance designating a portion of Meadowood Park as surplus public real estate and authorizing the sale of same. Recommended Action: Waive first reading and grant final approval of an ordinance designating surplus public real estate in Meadowood Park and authorizing the sale of same. (Requires approval of three-quarters of elected officials for passage.) b. Consideration of an Ordinance Vacating Part of the Western Avenue Right-of-Way in the Whispering Oaks Subdivision (First Reading and Final Approval) PRESENTED BY CITY MANAGER BOB KIELY When Whispering Oaks was platted approximately 37 years ago, an 80 foot right-of-way was dedicated to the City to provide for the future extension of Western Avenue. In 1988, the City Council began vacating portions of this right-of-way in return for adjacent property owners executing open space covenants. To date, approximately 50% of the right-of-way has been vacated. Currently, four more property owners have executed open space covenants. Consequently, attached as page 18 is an ordinance vacating those portions of the right-of-way and a map showing the location of the four parcels. Recommended Action: Waive first reading and grant final approval of an ordinance vacating portions of the Western Avenue right-of-way. III. UNFINISHED BUSINESS IV. NEW BUSINESS 1. Consideration of Investment Policy for Lake Forest Cemetery Commission PRESENTED BY DIR. OF FINANCE BOB SHAFFER The Lake Forest Cemetery Commission over the past two years has spent a majority of their time reviewing and updating policies and long-range funding options for the Cemetery. A major component of their Long-Range Financial Plan is the revised Investment Policy that is recommended for your approval this evening. The primary change made in this Investment Policy versus the City’s Investment Policy is to authorize the Cemetery Commission to invest up to 40% of their portfolio in common or preferred stock. This change for the Cemetery Commission is authorized under Illinois Revised Statutes, where under the Cemetery Care Act the Commission has much broader authority on types of investments. In reviewing the investment policy, the Cemetery Commission, along with their investment advisors decided that amending the investment policy to include the common or preferred stock provision was critical to their long-range funding plan. The stock provision will greatly enhance the long-term rate of return on their investments. Through phased implementation of the new policy, the Cemetery Commission would also minimize the risk factor. The Finance Committee reviewed the proposed Investment Policy at their meeting on March 4, 1996, and recommended that the policy be approved and/or amended by the City Council upon recommendation of the Cemetery Commission. This change has been made to the proposed Cemetery Investment Policy, which is attached for your review beginning on page 21. A summary of recent actions taken by the Cemetery Commission is also attached for your review as page 28. Recommended Action: Approval of the revised Investment Policy for the Lake Forest Cemetery Commission. V. VERBAL REQUESTS AND COMMUNICATIONS 1. Opportunity for the Public to Address the City Council 2. Petitions, Letters and Other Communications VI. ADDITIONAL ITEMS FOR COUNCIL DISCUSSION VII. EXECUTIVE SESSION VIII. ADJOURNMENT Office of the City Manager March 15, 1996 The City of Lake Forest is subject to the requirements of the Americans with Disabilities Act of 1990. Individuals with disabilities who plan to attend this meeting and who require certain accommodations in order to allow them to observe and/or participate in this meeting, or who have questions regarding the accessibility of the meeting or the facilities, are required to contact City Manager Robert R. Kiely, Jr., at (708) 234-2600 promptly to allow the City to make reasonable accommodations for those persons. Agenda Memorandum - 3/15/96 Page 2