The Democrats Gained Control of the Will County Forest Preserve in the last election. There is a consequence for the people of Will County. On October 10, 2019 the Democrat controlled Board voted to give the people of will County a new DEBT. They approved Bonding for $25,000,000 for Capital Improvements. The Vote Required 14 to pass but they only had 13, so they had to bring it back November 14th when it passed.
Under Republican Leadership 1 year ago, Forest Preserve DEBT and Property Tax was reduced. Republican Finance Chairman Ray Tuminello, and the Republican Caucus, paid off $85,000,000 of Capital Appreciation Bonds and reduced taxes by 18%.
Ray Tuminello
Forest Preserve Board Approves $25 Million Capital Plan
The Forest Preserve District of Will County’s Board of Commissioners approved a $25 million bond issue on Thursday, Nov. 14, that will fund a five-year capital plan. The plan is designed to protect wildlife habitat and expand recreational opportunities for Will County residents. The plan also will help improve the water quality of streams, lakes and rivers; mitigate flood waters; and improve air quality. (Photo courtesy of Connie Holt)
The Forest Preserve District of Will County is about to embark on a five-year capital plan that will extend and connect trails, improve preserves and facilities, and allow for additional land acquisition. The plan will be funded by a $25 million bond issue that was approved Nov. 14 by the Forest Preserve’s Board of Commissioners. The $25 million capital plan allows the Forest Preserve to maintain the quality of facilities and trails that visitors have come to expect and to protect them for future generations, he added.
Even with the new bond issue, the District’s tax rate will decrease because the Forest Preserve recently retired $45.2 million in previously issued general obligation capital appreciation bonds from 1999, said John Gerl, the Forest Preserve’s chief financial officer. For instance, the owner of a $200,000 home will pay approximately $88 in property taxes to the District in 2020 as compared to $91 in 2019. In general, the Forest Preserve makes up around 2 percent of the average property tax bill in Will County.
In addition to approving the bond issue, the Board also approved a balanced $68 million budget and multiple property tax levies that will fund the budget.
