Mayor has ‘guarded optimism’ for Addison’s future

Addison is looking to the future with “guarded optimism,” Village President Larry Hartwig said Thursday, thanks to some business developments and financial gains despite the ragged economy.

Hartwig presented his State of the Village address before state and village officials, community leaders and the Addison Chamber of Commerce. The event came on the heels of Wednesday’s Shape of Addison, which allowed village residents to hear from every local taxing body and ask questions of their leaders.

Addison is entering its budget cycle and Hartwig said he expects the village to again approve a balanced spending plan. That has not been an easy feat in recent years, he said, as the village cut more than 10 percent of its staff through early retirement programs, attrition and elimination of all part-time employees.

“We have had to bring it down to a bare minimum ... but we have been able to maintain our AAA bond rating and, from that standpoint, things are good,” Hartwig said. “We are also seeing a small uptick in (sales tax) revenue.”

The growth is coming from both Addison’s retail corridor on Lake Street and its heavy industrial area. Still, that does not necessarily equal many new jobs, Hartwig said.

“People in the industrial park share our attitude toward village business. I’m hearing some optimism ... but it’s guarded optimism. Things are moving up a little, but they are still not willing to hire.”

Some commercial developments include:

Ÿ construction of the 55,000-square-foot, $27 million satellite site for Elmhurst Memorial Healthcare on Lake Street;

Ÿ conversion of the old Blockbuster, also on Lake Street, into a dental office and jewelry store;

Ÿ a 25,000-square-foot addition to Sam’s Club on Route 53;

Ÿ the demolition of Denny’s on Route 53 to make way for Chipotle, Panda Express, Sport Clips and Game Stop;

Ÿ and roughly $200,000 in improvements to La Magdalena restaurant on Addison Road.

Hartwig said the village chipped in about $55,000 for the restaurant as part of an incentive program to improve the retail corridor, which allows for up to $20,000 of village money in improvements. La Magdalena was eligible for the other $35,000 because it is part of a tax increment financing district that aligns with Addison’s delayed Town Center plan, held back because of the economy.

“We are in the process of looking at the Town Center, but looking at realities of the economy and realizing we have to do that in stages,” Hartwig said. “We are moving forward, cautiously, but still making progress.”

As part of that forward momentum, Hartwig said the village is still committed to building housing for seniors. Several developments were approved, but builders could not get financing.

In addition, Hartwig said Addison — like many other communities — struggles with foreclosures. Village officials, he said, are aiming to work with homeowners and banks to work out refinancing and financial counseling options for those who are eligible.

Hartwig said details still are being worked out, especially regarding who will be eligible.

Other changes coming to Addison include police dispatch consolidation with Bensenville, which will save both villages more than $200,000 a year; and $2.2 million in road improvements, which includes construction on Swift Road.