Forest preserve approves $25 million land acquisition, public access and habitat restoration projects
The first installment of $155 million in funding overwhelmingly authorized last fall by Lake County voters will be in the bank within weeks and ready to apply to a variety of projects.
Forest preserve commissioners Wednesday unanimously approved an ordinance to borrow $25.5 million by issuing general obligation bonds to be sold to investors at auction Aug. 28.
A closing is scheduled for Sept. 10 at which point the funds will be on hand to spend. Payment of principal and interest for the 20-year bond issue is expected to add about $5.80 to the debt service tax levy tax bill for a home valued at $313,000, forest officials said.
It’s the first of several bond issues anticipated over each of the next four years. Of the authorized $155 million total, $65 million is designated for land acquisition, $60 million for public access and other projects and $30 million for land restoration.
The bond issue will raise $15 million for land acquisition and $10 million for public access and miscellaneous projects.
Land acquisition is not discussed publicly in advance of contracts being signed so there isn’t a published list of targeted properties.
However, seven public access/miscellaneous and nine habitat restoration projects are listed but much of the funding will be used for studies and planning for future construction.
Among the access projects are $300,000 toward a master plan for Lake Marie near Antioch. The former campground was acquired in 2012 but the property has yet to be improved or opened for public use.
Others include the relocation of the district offices from a business park in Libertyville, a trail crossing at Raven Glen Forest Preserve in Antioch, and a bridge and connection to the Des Plaines River Trail at Lake Carina Forest Preserve near Gurnee.
“Really, this is getting money in place so we can do the planning and engineering on these projects,” said Kevin Kleinjan, director of planning.
The largest designation in the public access category is $3.55 million to complete Phase 1 master plan improvements at Lakewood Forest Preserve, the district’s largest.
Work including a nature-based playground has been ongoing with existing funds but the infusion of bond proceeds will allow for bidding this fall in anticipation of the construction of two shelters, including a four-season shelter on Taylor Lake.
Planning also will continue for the Milton Road trail from the southeast corner of Lakewood to the core at Ivanhoe Road but construction is likely in a few years, Kleinjan said.
Habitat restorations are planned for Captain Daniel Wright Woods, the Ryerson Conservation Area and Lakewood, MacArthur Woods and Ray Lake, Dutch Gap, Gander Mountain and Greenbelt forest preserves.