COD idea's good, but timing isn't

The College of DuPage seeks to borrow $168 million to seed nearly $415 million in construction on the Glen Ellyn campus. It's an attractive idea, from an institution that manages its money well and plays an important role in the community.

The project list includes priorities renovation of the McAninch Arts Center, the physical education building, the Seaton Computing Center and the library and potential projects like the second phase of the Homeland Security Education Center and a parking deck.

However, the plan doesn't spell out what the tax money would fund and what would wait for grants, state contributions or other resources.

The college would repay the debt over 20 years within the current tax rate, having refinanced loans to make room for new borrowing. Homeowners would not see a tax increase due to the borrowing, but they also would not see a scheduled tax reduction of about $11 per $100,000 of property value each year.

While the cost might be small, many households are feeling the constraints of the most difficult economy in decades. As meritorious as the idea might be in other times, now is not the time to ask for money without a demonstrated need in the community and a clear-cut plan.

While we like the idea, we recommend voting “No” and encourage college leaders to further perfect the plan with an intent to revisit it once the economy has improved.