Lake Co. forest preserve wants more land

A poor real estate market has become a potential boon for those who can buy, and Lake County Forest Preserve District officials may ask voters to forgo a decrease in taxes to continue doing that.

Commissioners meeting Thursday as a committee of the whole will discuss several scenarios for a proposed referendum in November. The session is scheduled for 9:15 a.m. at the Brae Loch Golf Club, 33600 Route 45, Grayslake.

Details were not released, but district officials said voters would not be asked to approve a tax increase. Instead, they may be asked to forgo all or portion of a tax decrease that will result as debt on previously issued bonds are paid off.

"There's this opportunity that's there to have continued funding for the forest preserve without a tax increase," said Andy Kimmel, deputy executive director.

One scenario to be considered would give the district the leverage to issue well over $100 million in new bonds for land acquisitions or improvements to existing preserves.

According to the district, the amount of tax the owner of a $200,000 home pays for bonds and interest would drop by about $24 per year from the current $41.

"We have a unique opportunity because it's not a tax increase. It's neutral," said Bonnie Thomson Carter, forest preserve board president.

"But it's also a wonderful buying time because of the housing market. The developers are walking away from their options or they're selling it off. They're looking for buyers."

Public sentiment is expected to factor into the decision as results of a recently completed public attitude and interest survey will be part of the discussion.

Such surveys are done every three to five years and include general questions such as which preserves people use, how often and how they rate the customer service. This survey also included questions about future funding.

Lake County voters through the years have agreed to fund forest preserve land acquisitions and improvements. The district also has leveraged its bonding power to raise up to $85 million. There is about $19 million left, but it's pretty much spoken for.

"They have a long list of properties they're pursuing that would use that up relatively soon," Kimmel said.