Hampshire administrator takes new job

Hampshire Village Administrator Eric Palm will be leaving Hampshire for River Forest, the village has announced.

Palm, who has been Hampshire's village administrator for three years, will stay employed as the village administrator until he starts his position with River Forest on Nov. 1.

"I've been with Hampshire for 3 years - it's a great community, a great organization, and a great staff," Palm said. "At the same time, I have a good professional opportunity and certainly I'm looking forward to starting there Nov. 1."

Palm noted that the last couple of budget years were difficult, but he said being able to guide the village through difficult budget years is something he is most proud of during his tenure in Hampshire.

When asked what his best accomplishment was while working for the village, Palm said it was securing the $1.3 million letter of credit to complete development work after a bank failure.

After Tuscany Woods' developer Pasquinelli Homes went bankrupt in 2008, the property went into foreclosure, at which time Park National Bank took control. But the bank was taken over by the Federal Deposit Insurance Corporation in 2009.

The village had a $1.3 million letter of credit with an escrow company, which ensured the village would have access to funds to complete any work the developer did not complete if the bank failed or ran into financial difficulties. Palm said the village had anticipated the bank's financial troubles and acted accordingly in taking out the $1.3 million letter of credit.

Now, residents of the subdivision will benefit from the village's planning.

"We were successful, the bank wasn't. We were one of the few towns in the Chicagoland area that can post that kind of success," Palm said.

Palm has agreed to help a new village administrator with the transition, he said. He also said he'd be wrapping up a series of projects before he leaves.

"Certainly I will miss working with those people and that staff," Palm said.