Dist. 121 agrees to borrow up to $4.4 million for land

Warren Township High School board members have agreed to borrow a maximum of $4.4 million to buy land straddling Gurnee's north side.

If a formal deal is struck, Warren District 121 would buy 50 acres near Stearns School Road and Mill Creek Drive, an unincorporated area northwest of Gurnee Mills. Warren Township government, a separate taxing agency, recently received taxpayers' permission to spend $4 million to acquire 50 acres for athletic fields and other uses adjacent to the site the high school wants to buy.

Last week, a majority of District 121 board members agreed no more than $4.4 million should be spent to obtain the land for the school. Interest to borrow the money is not supposed to exceed 6 percent over a maximum 20-year loan repayment period.

District 121 board member Richard Conley said he was the lone elected official to reject the idea of borrowing for the planned property purchase. Conley stressed he was not against acquiring the land.

"It's an asset," he said. "I have no problem owning an asset. I have a problem borrowing for an asset we can pay cash for."

Warren board President John Anderson could not be reached for comment. Another board member, Michael Munda, declined to comment, saying Anderson is the spokesman for the six other elected officials.

Conley said he's concerned about piling more debt on top of an existing $30 million loan. Voters last year granted permission for the district to borrow the $30 million mostly for renovations and expansion of the Almond Road building for juniors and seniors.

Gurnee-based District 121's enrollment most recently was reported at 4,425 for the 2009-10 academic season, which is nearly 200 more pupils than last year. Officials have noted there are about 6,000 undeveloped acres, some of which have potential for new homes within Warren's boundaries.

Conley said the 50 acres would be valuable to Warren even if the land never is used for a third campus.