CL Library Architect Donates $8,000 to Library Yes Committee

Haven’t seen anything like this since the Woodstock School bond referendum committee received tens of thousands of dollars from the builder on the south side of town which went under in the housing recession.

Architects Engberg Anderson wants to do the design work for a new Crystal Lake Public Library.

And, guess what?

It wants the job so badly that the firm’s Milwaukee office has donated $8,000 to the committee pushing for approval.

Crystal Lake Library architectural firm donated $8,000 to the Crystal Lake Library YES Committee.

Crystal Lake Library architectural firm donated $8,000 to the Crystal Lake Library YES Committee.

As you can see, this information has been public information for about three weeks.

That’s the beauty of campaign disclosure.

The problem with campaign disclosure is that someone willing to share the information with the public has to look at it.

I apologize for the delay in conveying the information to readers.

Below is what a Google search of “Crystal Lake Library” and “Engberg Anderson” brings up.

CLPL – Crystal Lake Public Library

www.crystallakelibrary.org/Crystal_Lake_Public_Library_in_the_21st_C…

Crystal Lake Public Library Site Comparison Study – This document, created by architectural firm Engberg Anderson, describes comparisons for 24 sites …

Friend of the Crystal Lake Library donated a second $2,500 to the cause as well.


Comments

CL Library Architect Donates $8,000 to Library Yes Committee — 17 Comments

  1. We have a lot of good architects here in McHenry County, why are they going with an architect from Wisconsin?

  2. Architect, Engineers, and etc consulting takes about 10% of the cost to build in many cases.

  3. The will of the people is irrelevant, they will build this at any cost.

  4. Eric, the answer to your query is this: Because of this very pre-arranged kickback!

    Nothing need even be spoken …. everybody knows it’s PAY TO PLAY in Illinois!

    …..plus the fact that many architectural firms folded up in Dead Illinois, or should I say Madiganistan.

  5. Seriously, the Architect from
    Wisconsin is DONATING MONEY ! ? !

    Wow, don’t tell that wasn’t
    Worked out in advance.

  6. For the paybacks coming if it goes thru u rub my back I give u a cut Chicago politics ..

  7. This is pay-to-play, pure and simple.

    It’s grossly unethical, and may be illegal.

    At a minimum, Engberg Anderson should be barred from any further work on the Library.

    And it certainly calls into question any “conclusions” reached by the Library’s hand-picked expert.

    It reminds me of the situation at MCC a couple of years ago when they hired a health club manager to advise them whether or not MCC needed to build a big health club.

    You all remember the fore-ordained answer to that question.

  8. One purpose of a library is a source of information.

    Librarians pride themselves on being able to locate information for their customers.

    Yet the library has not provided adequate financial disclosure to taxpayers for this referendum.

    It is legal for the library to not provide adequate financial disclosure to taxpayers for a referendum.

    It is common for property taxing districts to not provide adequate financial disclosure to property taxpayers for a bond referendum.

    That needs to change.

    We need state laws requiring adequate financial disclosure for bond referendums, advisory bond referendums, and issuing non referendum bonds.

    +++++++

    The following are needed disclosures.

    The taxing districts can should provide this information, even if a state law does not require them to do so.

    +++++++

    1st Financial Transparency Disclosure to Taxpayers:

    Annual cost in property taxes to a taxpayer for the life of the bond.

    Such a disclosure is needed because during a bond referendum, it is common for a taxing district to only disclose year 1 cost to a property tax payer.

    That is happening with the Crystal Lake Library bond referendum.

    The Crystal Lake library website states, “If approved, the new building will be constructed adjacent to the Library’s current site and will cost $30,100,000, which will amount to an $11 dollar a month ($132 per year) tax increase for a home with a Fair Cash Value of $200,000.”

    But how many years will the tax increase last?

    Year 1 – $132 per $200,000 of home Fair Cash Value.

    Year 2 – ?

    Year 3 – ?

    Year 4 – ?

    Year 5 – ?

    Year 6 – ?

    Year 7 – ?

    Year 8 – ?

    Year 9 – ?

    Year 10 – ?

    Year 11 – ?

    Year 12 – ?

    Year 13 – ?

    Year 14 – ?

    Year 15 – ?

    etc.

    ++++++++++++++++++++++

    2nd Financial Transparency Disclosure to Taxpayers

    The bond debt service schedule (principal, interest, total) for the life of the bond.

    Example:

    Year 1 – Principal – Estimated Interest – Estimated Total

    Year 2 – Principal – Estimated Interest – Estimated Total

    Year 3 – Principal – Estimated Interest – Estimated Total

    Year 4 – Principal – Estimated Interest – Estimated Total

    Year 5 – Principal – Estimated Interest – Estimated Total

    Year 6 – Principal – Estimated Interest – Estimated Total

    Year 7 – Principal – Estimated Interest – Estimated Total

    Year 8 – Principal – Estimated Interest – Estimated Total

    Year 9 – Principal – Estimated Interest – Estimated Total

    Year 10 – Principal – Estimated Interest – Estimated Total

    Year 11 – Principal – Estimated Interest – Estimated Total

    Year 12 – Principal – Estimated Interest – Estimated Total

    Year 13 – Principal – Estimated Interest – Estimated Total

    Year 14 – Principal – Estimated Interest – Estimated Total

    Year 15 – Principal – Estimated Interest – Estimated Total

    etc.

    +++++++++++++++

    3rd Financial Transparency Disclosure to Taxpayers:

    The existing bond debt service schedule (if any).

    In other words, does the property taxing district have any outstanding bonds.

    Example:

    Year 1 – Principal – Interest – Total

    Year 2 – Principal – Interest – Total

    Year 3 – Principal – Interest – Total

    Year 4 – Principal – Interest – Total

    Year 5 – Principal – Interest – Total

    Year 6 – Principal – Interest – Total

    Year 7 – Principal – Interest – Total

    Year 8 – Principal – Interest – Total

    Year 9 – Principal – Interest – Total

    Year 10 – Principal – Interest – Total

    Year 11 – Principal – Interest – Total

    Year 12 – Principal – Interest – Total

    Year 13 – Principal – Interest – Total

    Year 14 – Principal – Interest – Total

    Year 15 – Principal – Interest – Total

    etc.

    ++++++++++++++++++++++++++++++++

    4th Financial Transparency Disclosure to Taxpayers:

    A summary and line item detail of how the bond proceeds would be expended.

    In the case of the Crystal Lake bond referendum, provide a summary and line item detail of how the $30.1 million estimate.

    +++++++++++++++++++++++++++

    5th Financial Transparency Disclosure to Taxpayers:

    A listing (company name, address, website, contact name) of those whom provide estimates and documents to the property taxing districts regarding the bond referendum.

    Example:

    – Financial Planner

    – Architect

    – Attorneys (Bond Counsel, Disclosure Counsel, other attorneys)

    – Underwriter

    – Vendors

    – etc.

    ++++++++++

    6th Financial Transparency Disclosure to Taxpayers:

    A summary and line item detail of any alternative proposals, such as remodel vs build, and options that were not chosen, for instance a scaled back or Cadillac option.

  9. It is not uncommon for those who stand to profit from a bond referendum (financial planner, architect, attorney, underwriter, vendors) to contribute to the PAC that is supporting the bond referendum.

    At the minimum, we need better financial disclosure in this area.

    See the previous comment.

  10. Actually, Mark, pay-to-play has been illegal for investment bankers and bond attorneys for about twenty years, and I know that because I was a Series 62 Municipal Principal so I had to be very conversant with the regulations.

    And the rules have some teeth: if a local broker contributes $100 to his good friend who’s running for Mayor, the entire firm — Goldman Sachs, Merrill Lynch, whoever — is barred from doing ANY business with that municipality for two years.

    I’m not saying it’s perfect and I’m not saying there isn’t some corruption out there, but I am saying the rules have reduced pay-to-play from something that was widespread and common to a great rarity, at least on the investment banking side.

    As for calculating debt service, using the PMT() function in Excel yields an answer “close enough for government work”.

    The actual method for determining level debt service, given different interest rates for different maturities, is somewhat more complicated, requiring the use of what is known as the “backpack algorithm”, where the solution for the final payment is calculated and then the process is repeated recursively to the first principal payment.

    But, as a practical matter, using the PMT() function works just fine.

    To find a reasonable estimate of interest rates for various maturities of municipal bonds, go to tm3.com. The first page shows interest rates for various maturities. You can make a modest adjustment for a lower credit rating than Aaa.

    I estimate the annual debt service over 20 years on a $30.1 million bond issue to be approximately $1.9 million, or $133 per household.

  11. I disagree.

    I don’t see any individual getting a kickback.

  12. Someone just showed up here to hand out somekind of vote “yes” on the library and my husband read him the riot act.

    I think he even hit every single point that was ever brought up on this blog. (And that was only from me reading the highlights to him.)

    I am so proud of him.

    I think that old guy is in tears somewhere.

    He was so rattled by the fiesty Grizzly Adams that he forgot to give us the hand out.

  13. You’re right Cal,but what would
    you or others on the blog call it?

  14. Chapman and Cutler had a PAC that expended $1,168,887 from January 27, 1999 to September 12, 2011, to political parties and candidates.

  15. The name of the PAC was, “West Monroe St Good Government Comm of Chapman & Cutler”

    The purpose of the PAC was, “To support candidates for local & state offices.”

    The PAC committee ID was 12204.

    The address was 111 W Monroe St, Ste 1700, Chicago, IL 60603.

    Patricia Curtner was the Chairwoman.

    Jeremy Gresham was the Treasurer.

    The previous Treasurer was Lynda Given.

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