Rosemont OKs $188 million budget

The Rosemont village board approved a roughly $188 million budget Tuesday for the 2011-2012 fiscal year that includes nearly $87 million for capital projects.

The big ticket items in the 2011 budget include nearly $7 million for Rosemont Field, the future home of the Chicago Bandits fastpitch softball team, an off-ramp at Balmoral Avenue and the Tri-State Tollway, and design and construction of The Park at Rosemont entertainment district off Balmoral Avenue.

The village’s general fund operating budget is $36 million. Other planned expenditures include: $22 million for debt service; nearly $12 million for the Donald E. Stephens Convention Center; roughly $1 million for the Convention Bureau; about $17 million for the Allstate Arena; roughly $6 million for the Rosemont Theatre; and nearly $2 million for the Health and Fitness Center.

The village also will spend about $2 million for maintaining and upgrading commercial properties. The board also authorized the issuance of up to $71 million in general obligation corporate purpose bonds, of which about $50 million will finance construction of the northbound Tri-State Tollway offramp at Balmoral.