Geneva park board to consider borrowing for capital work

It's time again for the Geneva park board to decide whether it wants to continue borrowing money for capital projects for the next two years.

In December, the park board will have a public hearing on a plan to borrow $1.3 million, to be repaid over two years. It's something the district can do every two years, without having to ask voters' permission in a referendum. The board meets at 6 p.m. Dec. 15 at the Community Center, 710 Western Ave.

The money will be earmarked this time for work related to replacing the north bridge in Island Park, developing Sandholm Park, improving Peck Farm Park, expanding the maintenance facility housed at Wheeler Park and buying land.

In 1991, when the property tax levy cap law came into effect, governments that were already levying a tax to pay off debt were allowed to continue to do so, as long as they never borrowed more than they owed then. The Geneva Park District was paying off $699,000 per year back then.

"It is kind of arbitrary, depending on whether you had a lot or a little (debt)," said Christy Powell, the district's finance and personnel superintendent.

The debt accounts for about 20 percent of the tax bill. The district received about $6.3 million in property taxes this year.

The last bond issue was used to pay for work at Esping Park, a playground at Sunset Pool, fees associated with planning the Persinger Recreation Center and studies to determine what to do about Island Park's bridges.

The north bridge at Island Park was built 77 years ago. Parts of the concrete deck and sidewalks have crumbled away, the surface has been patched in several places, and there is a crack in one of the four piers holding it up. The district also wants to widen it by two feet, to allow more room for bicyclists and pedestrians to get by each other safely. It estimates it will cost $700,000 to $1 million to replace the bridge, depending on the design.