West Suburban Patriots

an independent Tea Party group in DuPage County, IL

DuPage County Forest Preserve officials unveiled plans Tuesday [2/14]  that could lead to improvements at preserves, but also could result in a tax increase. Because interest rates have dropped, the forest preserve commission plans to refinance $38 million in debt that would result in saving $2 million. Officials and about 16 residents who attended a special meeting Tuesday night agreed refinancing is a smart move. But what might happen next is sparking more debate.


The question is, do they lower tax rates (a little bit) due to these savings - or spend it - or borrow more so they can improve even more.  See the Daily Herald article (and on-line comments) http://www.dailyherald.com/article/20120215/news/702159691/


The next Forest Preserve Board meeting is Tues at 9am at the Forest Preserve Headquarters, 3S580 Naperville Rd. Wheaton.   Meeting notices:

http://www.dupageforest.com/AboutUs/Commission/Meetings/Schedules/2012_Meeting_Notices.html

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The agenda for Tuesday [2/21] has a resolution of approve $48,700,000 which includes and additional $10 million for land acquistion that was never discussed at the meetings.

I did some  research and found a pdf file....

Forest Preserve District

Of

DuPage County

Fiscal Year 11/12 Approved Budget

& Related Material

 

(from pages 33, 34, 36 of pdf file)

Which bonds are they planning to refinance?

Will it change the paid-off date? 

Should we really be going further into debt?

The cost per taxpayer is small... but, lots of little bits add to something quite significant.

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Comment by jan s on February 28, 2012 at 12:00pm

Critics of the DuPage Forest Preserve District are questioning the hiring of two employees who they say have political ties...

http://www.dailyherald.com/article/20120228/news/702289831/

Comment by No More Government Spending on February 23, 2012 at 10:08pm

ALL OF THESE BONEHEADS NEED TO BE REPLACED AT THE NEXT OPPORTUNITY. WHEN WILL THEY GET IT? IT'S NOT THEIR MONEY!  of course they hold meetings on Tuesday mornings at 9am when most working people can't be there to speak out. Buying more land means more maintenance costs later. THIS IS ALL ABOUT AS TRANSPARENT AS AN OAK TREE. Pass the word quickly, REMEMBER THIS DAY!

Comment by jan s on February 23, 2012 at 7:54pm

Will County's Forest Preserve is refinancing bonds and passing millions in savings back to the taxpayers. DuPage's Forest Preserve did the same earlier this week but instead raised our taxpayer funded debt by four million. http://www.reconnectwithnature.org/about-us/news/Bond-Refinancing-2012

Comment by jan s on February 23, 2012 at 12:58am

See the Daily Herald article about the meeting

http://www.dailyherald.com/article/20120221/news/702219686/

Comment by jan s on February 21, 2012 at 12:44pm

Something that is confusing me.

The original article said that refinancing existing bonds at a lower rate would save the Dupage forest preserve $2 million.  They voted to add $4 million to the bond when refinanced and implied that would not effect the taxpayers bill.  

Comment by jan s on February 21, 2012 at 11:31am

actual chart from the DuPage Forest Preserve  FY 11/12 pdf file.

Notice that 2000, 2005, 2008 bonds were set up as balloon payments.  Paying these off was postponed until other bonds expire.  This smooths out the tax levy.  When referendum pass they are normally sold as an obligation for a set number of years.  But, we will not see our taxes actually go down, they move the money that was paying off one bond, to paying off another.  

Comment by jan s on February 21, 2012 at 11:20am

I attended the meeting this morning.

1st agenda item was to refinace the bonds.  They did pass an ammendment first to add $4 million in new debt rather than the $10 million they planned on adding.

Then public comment.
- most spoke out - opposing the forest preserve going further in debt. No one spoke in favor of it.
- one spoke out about a forest preserve employee and a couple contractors who are politically connected to the FP board.
- after all other business, the fellow running the meeting [ I think, D. "Dewey" Pierotti Jr., President] gave a short rant about how open and transparent the forest preserve had been about refinancing and extending the bond obligation.

my thought - really?  had someone not shot me an email about the Daily Herald article, I wouldn't have known this was happening.

Comment by jan s on February 20, 2012 at 2:50pm

I email Tim Whelan to ask what he thinks.

(full disclosure: he is my precinct committee man, we first met when our kids played tee-ball, and he is now running for Forest preserve board - district 4)

The agenda for Tuesday has a resolution of approve $48,700,000 which includes and additional $10 million for land acquistion that was never discussed at the meetings.

 his response...

...My immediate reactions are 1. not to impose any additional tax liability on homeowners even if it is .34 cents per on a $315,000 home and even if money to borrow is cheap...why spend anymore taxpayer money right now?  2. Spending money on lavish development of the properties...like water at St. James for $2.6 milllion ...or some othe the Willowbrook fancy development ...is questionable at best, probably unnecessary at this time and just plain stupid at worst. 

 

I am certain I will attend the meeting Tuesday, but I think the momentum by the Board is to do this  regardless of what the public says.  Although it would be wonderful issue for Tea Party groups to speak out about...government spending money recklessly.   Tim 

Timothy P. Whelan
...

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