Mount Prospect issues bonds to fund new police, fire headquarters
The Mount Prospect village board this week approved a nearly $40 million bond issue to finance construction of a new police station and new fire department headquarters.
Total principal and interest will amount to $62.9 million, officials say.
The village is building a new police station in a former industrial building at 799 Biermann Court. Officials approved an agreement earlier this year to buy the site for $5.1 million.
The new fire headquarters will be created out of a former bank building at 111 E. Rand Road. Village officials plan to sell the existing police and fire building downtown to developers.
Proponents say the new facilities are necessary to meet each department's space and technological needs, as well as provide better service to residents.
Trustee Paul Hoefert was the only board member voting against the bond issue, saying he does not believe the village needs a new fire department headquarters.
"You don't need a fire station," he said. "So that's $12-plus million or more that we wouldn't need to spend of the taxpayers' money. That would go a long way towards reducing the impact here."
Closing on the bonds is expected by Oct. 16, Finance Director David Erb said.