Numbers add up to voting for change
According to court documents filed by the Village of Lake Zurich, the following took place:
In June of 2006 former village administrator John Dixon signed a mortgage for $6,565,900 on taxpayers' property around the Summerset townhouses (in the downtown area) as collateral for a developer's construction loan. In March of 2007, then acting-president John Tolomei, upped the ante to $9,162,000.
The two acted without the authority of the board in an open meeting and without advising the taxpayers that their property would be held for ransom if anything went wrong with the development project. Was that legal?
This past September, LaSalle/Bank of America indeed foreclosed on the village mortgage. According to the Feb. 17, 2009 article in the Daily Herald, the village is now negotiating a settlement of the foreclosure litigation.
Unfortunately, the taxpayers are not allowed to participate in negotiations with the bank. We do know, however, the village is planning to put aside at least $1.5 million for a possible settlement with more bonds to fund such a settlement.
Will an announcement of a settlement come before or after the April 7 election?
How many more loans, bonds and/or lawsuits will the taxpayers of Lake Zurich have to endure?
Therefore, we can stop all that nonsense by voting for the C.A.R.E. people consisting of Trustee Suzanne Branding for mayor, Jeff Halen, Rich Sustich and Jonathan Sprawka for trustees and Wende Dau for clerk. See carelakezurich.org.
Claudette J. Dyback
Lake Zurich