Typical Lemont......Stuck in the past

I appreciate the mayors apology. This was something he owed to the people of Lemont. It seems however that he continues to disregard the people of Lemont and their petitions since he says that the village will still go ahead with the project if they can find other financing. The purpose of the petitions was to demand that the people of Lemont be able to vote on whether the sports complex should be built.

I think the mayor's sincerity in listening to the populace would best be exemplified by dropping the project if private funding does not avail itself . The referendum should be moot at that point.

Kevin Cliff

"It was all tied to a business decision," Reaves said. "When you have a business decision that saves the village money, creates an entity of economic development and payments for bonds wouldn't come until 12 months later ... It was a business opportunity and it needed to be acted on quickly."---------
Those are some interesting comments made by the mayor. How would spending $21M to build and committing to substantial future expenses for loan payments, infrastructure changes, staffing and operating a mega sports complex ... "save the village money"? What is the cost of borrowing $21M today with no payments for a year? Where would start up operating capital come from? Seems like a hasty "business decision" to me. Rhetoric like this underscores why more research is needed and why voters should have a say in the matter. Let's measure twice and cut once.

Sounds like the right thing to do. Maybe he should look at the mess Bridgeview is in in with their "Sports Stadium".

If he cannot secure private funding, that should send red flags to the community. Why the heck would taxpayers would want to take on risk this when private investors wont? Let's pretend for a second he does secure private funding for the $21M to build it. The village probably still plans on operating the facility, staffing, operational costs and if it is not profitable, where do you think the village will get the funds to pay for those expenses? Questions that still need answering.

I wish business owners in the downtown area would speak up so residents understand that this complex is an essential step to reinvigorate the downtown area. Unfortunately steps to improve this town are constantly thwarted by the older population. But until the under 60 crowd voices their opinion we will continue to see other neighboring towns pass us by.

It is a great start to read that Mayor Reaves is re-evaluating his fast track plan. I think it is quite honorable for him to communicate and acknowledge to the citizens of Lemont that our voices were heard.

To "Tim" (no last name), as a 5th generation Lemonter in my 40s I take much pride in my home town and would want nothing more than to see its downtown flourish. But I do agree that any project must be selected wisely and should have village support. If I were a downtown business owner (and as a resident) I would be making "beautification" (i.e. Canal) the priority, regardless. You should clean your house before inviting guests, especially if you want them to return

I don't believe that the sports complex would have done much for the exisitng down town businesses. In order for businesses to succeed you have to offer people what they want. People generally don't part with their money unless they get what they want in return. Some of the down town businesses know how to run a successful business and are doing quite well. Businesses that are not doing so well need to re-evaluate what they are offering to the public. Just being in the path of civilization is not enough. With respect to the mega sports complex, I don't think the "if we build it they will come" approach is prudent. Downtown Lemont is not the Field of Dreams.

A sports complex is not the avenue to pursue if the goal is to invigorate downtown businesses. A better plan, in my opinion, would be to revitalize and capitalize on our connection to the I & M Canal. It's where the roots of our town began.

Lets hope that the mayor does not offer any village assets or money resources to guarantee the private loan. Doing so would still the taxpayers on the hook.

Let him find private investors to pay for and own the project. Leave the village out of it.

"It was all tied to a business decision," Reaves said.
Sounds like a bad business decision to me. I dont see how the place can pay for itself. The mayor should drop the project completely. Does the mayor want to be associated with a colossal failure?

I would ask that the mayor allow the citizens to vote on this project, regardless of where the money comes from. This town belongs to the people of Lemont. They should have a say in what goes on in Lemont.

Furthermore, any contract that obligates the village of Lemont also obligates the people of Lemont. So I would also ask the mayor to publish any contracts he is considering, well in advance of accepting them, so the people of Lemont can vote on that as well.

"Moving forward, he said, the village will consider private funding options that take 100 percent of the burden off taxpayers." Thank you, Brian. As a 20 year + resident and business owner in the village , no one wants to see successful enterprise more than me. Yes, I fought, and fought hard against the "fast track" and would do it again in a heartbeat. If you are able to get " 100 percent of the burden off taxpayers." ...by all means build as many as you can. I am ready and willing to contribute my time and ideas as well as connections to work together in reviving the downtown as well as make Lemont the best that it can be.

Much better plan, sir! We're glad we caught this one in time, and that you accepted citizen's opinion. Thank you.

Should we now expect to see our tax bills drop since the bonds that are to be retired won't be extended for the complex?

It's not likely a private investment will be made here and there will be a lot of I told you so comments made. However, a private venture would have faced a higher cost of money that the Village would get as a rate...they would face greater insurance costs than the Village would have...they would face higher MWRD participation costs than the Village and finally they would have to pay a hugh property tax the Village could avoid. So, in short, the costs to a private operator vs the Village costs are VERY different. I would guess that a private operator would face costs of about $200,000 a year difference. Me thinks you will not see a private venture unless it can be partnered in some way with the Village to cut fixed costs. It's likely over!

Before busting buttons on how this project was killed by some concerned citizens you have to look at the business model. If those projections were based in some concrete research and close to right...we missed an opportunity. The fact is no one really knows if those numbers were doable...that is what needed study before the project was pushed to a vote where it will be an emotional vote instead of an informed one. If the business plan was accurate I thought the project was a marginal sucess. Key word...marginal. If the plan was accurate. We will never know. A private operator is not in the mix as I see it because their cost of money, land lease, MWRD participation, property taxes and insurance will raise their operating costs well above that of the Village. I'm no fan of government involvement in any more than is required but sometimes a project becomes doable only because of government advantages begining with land cost, insurance and money costs etc, etc. This project, I think, is dead and we will never know if that was the right decision. Neither side...those for or those against should be out spiking the football!

Ed, You would not have to look at the business model long before realizing that revenues would fall far short of expenses. This was more about politics and benefiting a few people than it was about a business decision.