Downers Grove Economic Development Corp

“The form 990 is subject to staff review, president review, and review by the executive committee of the board of directors.”

“The written conflict of interest policy is reviewed by the board of directords on annual basis and compliance issues are immediately addressed by the board of directors. The executive committee of the board of directors monitors the policy on a quarterly basis.”

“The compensation of the president is determined by the chairman of the board with input from the finance committee and the approvsal of the board of directors. A performance matrix algined with the organization's goals and objectives is used to evaluate the president's performance. All other employee compensation is determined by the president with the review and approval of the executive committee of the board of directors.”

“The organization's governing documents, written conflict of interest policy and financial statements are available to the public upon written request.”

“2021 program service accomplishments activities of the dgedc include business attraction (facilitating new business to open in the village), business retention (working with existing businesses to ensure satisfaction), visitors attraction (promoting downers grove as a destination for visitors), and marketing (creation of materials, websites, etc., participation in trade shows, and advertising). Following are highlights of the may program service accomplishments of the dgedc during 2021: the dgedc advertised in many state and regional publications, including the state of illinois economic development guide and the dupage travel guide. The dgedc held its annual luncheon in which it presented the annual cornerstone awards. The dgedc also completed its third year in the tourism partnership with the dupage convention and visitors bureau. The dgedc completed development of a five-year strategic plan.”

“2022 program service accomplishments activities of the dgedc include business attraction (facilitating new business top open in the village), business retention (working with existing businesses to ensure satisfaction), visitors attraction (promoting downers grove as a destination for visitors), and marketing (creation of materials, websites, etc., participation in trade shows, and advertising). Following are highlights of the many program service accomplishments of the dgedc during 2022: advocate medical group completed a major renovation of their cardiology department at 3825 highland avenue to better serve the downers grove area community athletico completed the build out for their new physical therapy facility at 1117 ogden avenue. Vequity real estate developed the multi-tenant building at 1111-1117 ogden avenue. At home furnishings opened in august at 1212 75th street in the grove shopping center. At home now occupies the former ultra foods space. Bold insight signed a lease and completed the build out of 9,000 sq. Ft for a new usability testing facility and additional corporate offices at 2001 butterfield road in the esplanade at locust point. Bridge industrial completed construction of bridge point downers grove iii at 5300 belmont road. Shortly after completion of the property, lec event technology signed a lease for 69,720 sq ft of the 126,445 sq ft building and occupied the space in december. Flavorchem completed buildout of the former aerial gymnastics club at 1516 brook drive. The new 15,000 sq ft space includes offices and warehousing areas. Higher ground education completed redevelopment of the former sears hardware facility at 925 ogden avenue. Higher ground opened their new 11,850 sq. Ft. Day care center at the site in august. Illinois bone and joint completed the build out of their new 7,756 sq. Ft. Medical facility at 1034 warren in downtown downers grove. Kfc completed both interior and exteriors renovations to their retail restaurant at 1450 75th street in the grove shopping center. Kore investments completed major renovations to the lobby and improved amenity areas at 3500 lacey road. La-z boy furniture opened in june at 1410 butterfield road in butterfield plaza. La-z boy completed a complete interior renovation of the 16,000 sq ft. Retail space. Lantern pizza co. Opened for business at 1420 ogden avenue, in the 1,789 sq ft former enterprise rent-a-car. Lantern opened in july after a complete remodel of the interior space. Leffelman meat center opened at 4952 main street in the downtown. Leffelmans is a family-owned butcher specializing in quality meats, and small batch sausages. Meadowbrook shopping center was purchased by stellco properties. Stellco is working on a redevelopment agreement with the village for the rehabilitation of the center. Plans to be reviewed at a village board meeting in 2023. Noodles & co. Completed the build out for its new restaurant at 1101 ogden. Vequity real estate developed the multi-tenant building at 1101-1117 ogden avenue. Panera bread completed construction on their new location with a drive-thru at 7361 lemont an outlot in the downers park plaza shopping center. Planet fitness opened in october their new 21,000 sq ft gym at 2055 63rd street in the meadowbrook shopping center. Pugi hyundai completed the remodel and expansion of their dealership at 1866 ogden avenue. Roadrunner sports completed a renovation of their 2,612 sq ft retail store at 1532 butterfield road in the finley square shopping center. Ross builders completed construction of fairview station at 5117 fairview. The company construced a new 18-unit apartment building on the site of a long vacant gas station. Super cheer & dance studio opened at 7221 lemont road. Super cda has filled the long vacant walgreens store and providing more families and foot traffic in the downers park place shopping center. Symmetry energy solutions completed build out of their new 9,600 sq ft offices in esplanade at locust point.”

“The agency has historically used the modified cash basis method, return has been updated to reflect this.”