Glen Ellyn Park District eyes $5 million borrowing plan

Glen Ellyn Park District may ask voters to approve a roughly $5 million borrowing plan that could pay for acquiring land and improvements at its existing sites.

Commissioners will meet later this summer to discuss whether to pay off tax-backed loans as scheduled in 2017, or to extend the life of the debt for another five years.

The latter proposal would not increase property taxes in the district, but taxpayers also would not see their bills decrease as much as if the debt came off the district's books.

In 2006, voters supported a plan to borrow $11.9 million to finance the construction of the Ackerman Sports and Fitness Center, acquire land and renovate the Main Street Recreation Center.

About $7.9 million of that was earmarked for Ackerman. But the project later grew in size, and the then-board took out additional loans. That pushed Ackerman's price tag to roughly $11.2 million.

The park district's financial planners say extending the voter-approved Ackerman debt through 2022 would raise roughly $5 million.

Executive Director Dave Harris cautions that the district remains in the early stages of studying the proposal. But commissioners have taken an initial look at some projects that could be funded by the money. They include:

• Installing a walking or running path around the 65-acre Ackerman Park and improving drainage of athletic fields.

• Stabilizing the shoreline around Lake Ellyn and improving trails. In a 2013 master plan, consultants said native plantings could help reduce erosion and filter runoff along the shores of the man-made lake.

• Renovating areas of the more than 20-year-old Sunset Pool.

• Acquiring land to address "park deserts" in the district.

The district could place the question on the ballot in the November presidential election. Doing so would mean the board would have to adopt a measure by Aug. 22. But DuPage County voters tend to reject referendum proposals in high-turnout elections.

Another option? April 2017, when five park board seat are up for grabs.

The owner of a $400,000 house currently is slated to pay $548 in property taxes to the district on bills they receive in 2017.

That owner would see their 2018 bills decrease to an expected $430 if the district retired the 2006 referendum debt as scheduled.

If voters approved the $5 million plan to extend the debt, that owner would only see their 2018 bills drop to $538. Their property taxes to the district would incrementally decrease over the next four years, forecasts show.

Total principal and interest payments on the debt would cost the district an estimated $5.41 million over the five years.

A potential push for new revenue comes amid concerns cited by Harris Monday that lawmakers could freeze what the district and other agencies can collect in property taxes.

Harris also noted that almost $1 million in grants originally promised to the district remain in limbo. More than a year ago, Gov. Bruce Rauner decided to suspend grants that would have gone toward construction and land acquisition in response to the state's budget woes.

Board members this week say they want to continue reviewing the proposal in the next several months.

Commissioner Melissa Creech said the district's "previous commitment to put referendums on high election days is a good strategy."

"If we're going to ask the people for money, I think we should try to ask as many people as we can possibly get to come out to the polls," Creech said. "So I think that would be the appropriate time to do it."