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2004-06-07 - Finance Committee - Minutes Board or Commission: ❑ Finance Committee Document Type: 0 A e g nda 0 Minutes Meeting ate: 06/07/2004 Type of Meeting: ❑ Regular Meeting The Village of Buffalo Grove Finance Committee convened on Monday, June 7, 2004 at the Village Hall, Lower Level Conference Room. Those in attendance were: Elliott Hartstein, Jeff Braiman, DeAnn Glover, Chuck Johnson, Bruce Kahn and Steve Trilling. From staff: Bill Balling, Bill Brimm, Ghida Neukirch, Scott Anderson, Carmen Molinaro and Art Malinowski. Also, Treasurer Tenerelli and Clerk Sirabian. Lastly, from Connie's/Pronto: Mark Stolfe, Jim Leo and Ken Lindsey The following matter was reviewed: Assignment of Lease-Village Tavern & Grill to Connie's Pronto: The principals from Connie's were introduced and Mark Stolfe provided an overview of their company and how they would propose to operate the current facility under the terms of the proposed lease assignment. The overview noted the type of concept food and beverage service that would be sought as well as how they would orient the business to emphasize the need to serve the golfing public in balance with the general public. It was noted that an updating will be required to provide new carpeting, upholstery, lighting, paint, etc to freshen up the facility and it was noted that that effort may entail a commitment of approximately$150-$200 thousand. As to the current menu, they plan to take over as is to determine what does and doesn't work. Additionally,the current name will not change in the near future and based on their conversion objectives, the current clientele will be used to evaluate change as to service. In addition, upgrades will occur in the back room operations relative to equipment, safety, sanitation, etc. A number of questions were asked, as follows: - In terms of their varied operations, what would most closely match what they have in mind for Buffalo Grove? It was noted that their upcoming grand opening of the Connie's Lodge in Naperville would most closely represent what we could expect to see in Buffalo Grove. -The concurrent role with Creative Hospitality was discussed and clarified. They would like to operate in tandem with Creative from closing (tentative date-July 1, 2004) until as long as it take to get liquor license. They were advised that they should not allow the issuance of a unconditional liquor license to dictate how long they will operate with Creative. Also, part of their desire to operate in tandem is to work together to understand what works, to minimize mistakes, to evaluate the current staffing and to provide for an orderly transition. However,when pressed after the meeting, it was noted for the record that they would like to overlap with Creative for as short as possible. -The operating entity(corporate)would probably be Connie's/Pronto - Ken Lindsey was asked to clarify his professional and golf experience. Ken will have an ownership interest in this facility. He has been involved with the golf business since age 12 and most recently worked for the DuPage Forest Preserve District at Maple Meadows Golf Club as well as Oak Meadows Golf Club. He noted his significant experience not only in golf but in the food service side of the business as well. His objective is to reorient the golf patrons to the food and beverage service, providing a balance in the publics served. -One question dealt with what immediate mistakes could Connie's make at the time of transition. It was noted that change for the sake of change could be a mistake, especially with a business that has a decent local following. Also, raising prices could be very problematic concurrent with a change. The transition must be orderly, well thought out and implemented carefully. -A further question addressed the concept of moving as soon as June 21st or wait until July 12th. In response, the less time in the facility during the golf season was viewed as a negative for Connie's and really one of their key concerns. They would like to spend as much time as owners during the season. They also need to fully understand how the lack of service directed toward the golfer can be addressed in a real time mode rather than as the season winds down. Lastly, there is a financial element of a change sooner rather than later relative to their closing with Creative. - It was suggested that Connie's provide a letter of intent with the Village as to what they would anticipated undertaking over the next 12-18 months in terms of upgrade, etc. The financial commitment may also need to be affirmed with a letter of credit or some other element of assurance that work can and will get done. -When asked to affirm a timeline, it was stated that none of the physical work that may be undertaken will occur until late September/October, after the full golf season so as to not impact the ability to fully serve the clientele. Also, a little longer time line allows for the development of a more valid plan of approach. At the conclusion of the meeting, Connie's and staff were encouraged to work in a diligent manner to see if an assignment can be completed by June 21st. That would include a lease (modified where appropriate) and authorization for a Class A liquor license. Staff will continue these efforts with the assumed assignee.