Hoffman mayor to villagers: Economy will eventually shift
Despite a work force reduction to village staff in the form of buyouts and early retirements, Hoffman Estates Mayor William McLeod said he isn't overly worried about the economic outlook of his village.
"We still have a lot of vacant land," McLeod said. "I know at some point in time it'll turn around and we'll have good days again, and then the people will assume the good days will last forever and we'll go through the cycle again. It's nothing new for those of us of a certain age."
Despite a list of stalled projects, such as the Prairie Creek Amphitheater, McLeod tried to deliver a bouquet of optimism Tuesday during his annual state of the village address before members of the Hoffman Estates Chamber of Commerce. He said the already trim village budget could face further cutbacks during June's midyear review.
If cuts are needed, they won't be in public safety, he said. He noted that the village is limiting road construction projects to save money. In past years, the village has spent as much as $6 million on road improvements, and now it's around $2.4 million.
"Obviously, like any other business, we're looking very carefully what we're spending our money on," he said.
The biggest news was that retailer Ashley Furniture has shown interest in a parcel on the village's west side near the site of the razed Poplar Creek Music Theater inside the Prairie Stone Business Park.
The site is the subject of a lawsuit involving the villages of Barrington Hills and South Barrington. There are covenants in place restricting retail. That control was given to the neighboring villages in 1985, but Hoffman Estates officials hope the restrictions can be lifted, especially in lieu of last year's opening of the nearby Arboretum of South Barrington shopping center.
McLeod also addressed the impact of Canadian National's purchase of the Elgin, Joliet and Eastern Railroad Co. The merger, which recently gained federal approval, will bring additional freight trains through the village.
"It's going to be very inconvenient for people in the western area - the Shoe Factory area there," McLeod said. "We do have life-safety concerns, obviously."
As villages like Barrington continue to oppose the merger and have filed a lawsuit attempting to reverse it, McLeod said it could a be a while before crews build sound walls and do other rail-related work the CN promised Hoffman Estates to ameliorate the effect of the additional trains.
With the Tyson America Cup gymnastics showcase scheduled for next week at the Sears Centre arena, McLeod said he has an eye on Chicago's bid for the 2016 Summers Games, as the tourism money could benefit Hoffman Estates hotels. At least that's the hope.
"One of the concerns I have if they do get the Olympics is that Chicago will start to build more hotels," McLeod said.