Breaking News Bar
posted: 2/24/2014 5:01 AM

Endorsement: 'Yes' to Oakbrook Terrace fire district

hello
Success - Article sent! close
 
The Daily Herald Editorial Board

For several years, the Oakbrook Terrace Fire Protection District has collected about $1.4 million in income to cover about $1.6 million in expenses. The losing proposition is compounded by the fact that the district is spending about 15 percent of its budget to repay loans taken to cover the annual shortfalls. Rather than asking for its first permanent tax increase since 2000, the district is seeking permission to borrow $2 million that would be repaid over 10 years with property taxes. The money would allow the district to replace outdated fire protection and paramedic equipment, update the fire station, and repair and maintain district vehicles. Officials also may eliminate ambulance fees charged to residents. But the biggest bonus may be that the district could repay its other outstanding debt, freeing up that portion of the operating budget for recurring and rising expenses. The $2 million loan would cost the owner of a $250,000 house $40 annually for 10 years. We appreciate that district leaders have crafted a plan to square its finances without permanently adding to residents' tax bills. We recommend a yes vote.

Share

Interested in reusing this article?

Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.

The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.

Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Name * Company Telephone * E-mail *

Message (optional)

Success - Reprint request sent Click to close
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here