$1.5M Bond Issue for Frankfort Square Park District Passed

FRANKFORT, IL — The park districts for Frankfort and Frankfort Square each had a referendum on Tuesday's ballot. And voters passed both measures, which could generate funds to be used for future projects for the departments.

In what it calls a mini-referendum, the Frankfort Square Park District sought permission to sell $1.5 million in bonds in order to pay for improvements across the district. The bond sale does not include tax increase.

For its referendum, the Frankfort Park District sought approval to sell land at 10840 Laraway Road. The property at the northwest corner of Laraway and LaGrange roads was bought in 2014 as a potential site for a new community center, but a 2016 survey showed that residents were not in favor of the project and the tax increase that would come with funding it.

RESULTS

Frankfort Square Park District referendum: Selling $1.5 million in bonds for district improvements

• Yes: 1,687 (56.3%)
• No: 1,312 (43.7%)

Frankfort Park District referendum: Putting up for sale land at Laraway and LaGrange roads

• Yes: 1,464 (68.7%)
• No: 667 (31.3%)

Frankfort Square's intiative spun out of an independent survey over the summer asking about improvements in the district. The survey found that 82 percent of residents favored repairing and renovating parks, buying land and other upgrades so long as a tax increase was tacked on.

The Illinois Park District code requires the sale of property of 3 acres or more to be approved by the majority of voters, which is why the Frankfort Park District has placed its referendum on the ballot.

Money generated by a sale would go toward paying off the debt certificates the district used to buy the property. The annual payment has been $96,000, and it runs through 2025. Remaining funds would go into the district's corporate fund.

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Although the plan to build a community center on the Laraway and LaGrange property won't see fruition, the district will continue to look for other ways to create indoor recreation opportunities for residents. That includes possible improvements to the Founders Center and other district facilities.

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