Vote 'no' on borrowing for Round Lake Park improvements

In Round Lake Park, a referendum question about borrowing money for infrastructure improvements in the downtown area has been a major issue among municipal candidates in this election, and we can see why.

Should the village borrow $1.5 million for public improvements, such as streetlights, sewer upgrades and green spaces, in the business district along Route 134? No one disputes that the work is needed. But with the economy in shambles, is this the right time for such an undertaking?

Proponents say yes, for several reasons. First, the village is paying off some other debt, so even if this new loan is taken, residents will see a smaller tax bill. Also, because the economy is flailing, construction bids likely would be lower than in recent years. And finally, improving downtown is an investment in the village; when the economy turns around, Round Lake Park will be much more appealing to new businesses, not to mention the immediate boost the work would give residents.

Opponents, though, are equally passionate that this project should wait, mostly because they think the village should be doing everything possible to help residents financially right now. If the old loan is paid off, a typical resident would see the village tax bill go down by $160 to $180 a year. The new project would mean a decrease of only $45 a year.

There's also the matter of a revitalization grant that current officials allowed to expire. The grant was for $100,000, and officials said it was too small to make a difference. There's no guarantee that these same officials will be re-elected on April 7, and we don't think Round Lake Park residents should vote down this referendum as a form of punishment.

But it does suggest the village might be able to find another way to pay for this kind of work. That - and our philosophy that only absolutely essential projects should be funded by taxpayers in this economy - is why we think Round Lake Park residents should say "no." This project has waited for decades. It can, and should, wait a couple more years.