Arlington Heights Votes on $3 Million Surplus Allocations

Unexpected revenue streams and lighter than anticipated expenses brought the Village of Arlington Heights a surplus of slightly more than $3 million for fiscal year 2013, which ended April 30.

On Monday, the committee of the whole discussed where the funds could be allocated. One option would have been to take a portion and direct them into the Affordable Housing Trust Fund.

“Trustees had the choice to reduce $1 million intended for streets to $750,000 and take the $250,000 to start up the trust fund,” said Bill Dixon, village manager.

The fund would aim at providing attainable housing options for Arlington Heights buyers or renters through grants and loans funded by the village.

After discussion, trustees voted 5-3 to instead channel $1 million in funds each to flood remediation, the Emerald Ash Borer issue and streets, Dixon said.

The surplus revenue came from a number of one-time sources.

A combined $2 million resulted from a State of Illinois telecommunications revenue audit, fees from the Arlington Downs and Lutheran Home projects, under-budget expenses because of vacancies and lower salt costs due to the mild winter.

In June, the village board reviewed a report form the Affordable Housing Trust Fund Task Force, who recommended start-up funding come from gambling expansion, mainly slot machines, at Arlington Park.

“That funding source is of course dependent on if there will be slots at the racetrack, and there have been numerous [unsuccessful] attempts to pass that in Springfield,” Dixon said.

The board will finalize the funding allocations at its July 16 meeting.