$50M Forest Preserve Bond Issue Includes Lockport Area Trail Project

HOMER GLEN-LOCKPORT, IL — A project in the Homer Glen and Lockport area will be included in the $50 million general obligation bond issue that the Forest Preserve Board of Commissioners approved on June 13.

The forest preserve said that bond sale proceeds will be used to fund a 2025-2030 Capital Improvement Program that will allow the District to preserve more green space for future generations and add access to open areas.

The bond issue will provide $25 million for land preservation, $12 million for critical regional and local trail connections and the creation of new preserve access areas, and $13 million for habitat restoration. The interest rate for the bonds can’t exceed 5.5 percent and the bonds will be repaid over 20 years.

Proceeds from the bond sale will be used for a variety of projects, including a trail connection project in Homer Glen and Lockport.

The Veterans Memorial Trail project, from 159th to 135th Street, for $12.5 million is slated for 2027, according to the preserve.

This trail extension will complete the northern segment of the Veterans Memorial Trail and will be constructed in partnership with the Illinois State Toll Highway Authority. Engineering has been initiated, and the project requires a 20 percent local match, the preserve said.

The amount of money property owners will pay in taxes in 2025 for the Forest Preserve District’s portion of their tax bill – which is around 1.5 percent of their total bills – will not increase as a result of the bond sale and the total will decrease from taxes paid in 2024, according to the preserve.

The District waited until past bond issues were retired to propose the new bond issue, so the tax rate would not increase.