Forest Preserve Plans Public Hearing For $50M Bond Issue

ROMEOVILLE, IL — The Forest Preserve District of Will County will hold a public hearing on a proposed bond issue at 9:15 a.m. June 6, at the Will County Office Building in Joliet.

After the hearing, the Finance Committee will meet to vote on whether to add the bond issue to the full Board’s agenda for the June 13 monthly meeting at the county building, the preserve said in a release.

The proposed $50 million bond issue will not result in a tax increase for the Forest Preserve portion of property tax bills. Taxes will decrease even with the bond issue, the preserve said.

If approved, the bond issue would fund a 2025-2030 Capital Improvement Program that would allow the District to preserve more green space for future generations and add access to open areas.

The bond issue would 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, according to the preserve.

The owner of a $300,000 home is currently paying $116 in taxes (in 2024) for the forest preserve's portion of a property tax bill. If the $50 million bond issue is approved, taxes would be $95. If the bond issue is not approved, taxes would be $86.

The preserve said its portion of tax bills will drop even with the bond issue because previously issued bonds have been paid off.

If the bond issue is approved by the full Board, it would give the Board president and officers the ability to sell the bonds to fund the Capital Improvement Program, but they would only do so if market conditions are right and, in their opinion, the action is consistent with the best interests of the taxpayers, according to the preserve.

Comments can be submitted online by emailing publiccomment@fpdwc.org or in person during the hearing.