Towns share economic woes, good news at annual chamber lunch

It's true that neighbors often may try to one-up each other.

Yet, that wasn't the intent of Thursday's Wheeling-Prospect Heights Area Chamber of Commerce and Industry annual lunch where town leaders shared two very different stories about the state of their economies.

Perhaps unwittingly, it was a stark juxtaposition of a city hurting from the economic downturn, and a village flourishing with new public facilities and a steady flurry of development projects.

Prospect Heights' outgoing Mayor Patrick Ludvigsen didn't sugarcoat it for area business and community leaders.

He said the economic slump significantly hurt revenues in 2008 with building permits down 12 percent, and rising foreclosures.

"Residential teardowns and rebuild has really slowed," he said. "Construction in Prospect Heights is really slowing down, especially on the residential side."

Ludvigsen said the city doesn't receive a lot in sales tax revenue because of a smaller, "largely bedroom community" population compared to its more populous neighbors.

He said Prospect Heights receives $235,000 in property tax revenue yearly in contrast to Wheeling's $5.3 million, adding he didn't begrudge that village's success.

"We have tried to convey this to residents ... because they see Cook County (government) and say 'cut the fat,'" Ludvigsen said. "It's a difficult problem or unique problem for us to convey our situation to residents."

City officials may consider a food and beverage tax and police protection tax as they work on the 2009-2010 budget, he added.

Wheeling's acting Village President Dean Argiris acknowledged municipalities are going through tough times before touting the village's fortuitous financial stability.

"Even in the current financial downturn, Wheeling continues to experience a wide range of encouraging economic development," he said.

Argiris listed off a host of projects expected to be completed this year, including the Superdawg and Devon Bank's proposed first "green" building.

Wheeling itself will soon unveil a new village hall and public works facility, as well as other upgraded municipal buildings.

"As families and businesses tighten their belts and await signs of economic improvement, I believe it is the responsibility of municipalities to be prepared ... to take step to ensure that as recovery comes, it comes our way," Argiris said.

Argiris said the village also is actively trying to get the former Kmart and Wickes furniture sites redeveloped.

"It's a new year, full of promise of positive change," he said, ending his speech on an Obama-esque call to work "together for the common good of our citizens."