Another Way To Finance Development of Crystal Lake’s Vulcan Lakes

In Friday’s Northwest Herald is an article about the $23 million that the City of Crystal Lake is scheduled to haul in over a twenty-year period as a result of a proposed Waste Management garbage transfer station to be located on the old Virginia Street Road dump.

The TIF district the city council is proposing projects the spending of $30 million (plus interest that will probably double that number). Of that $8.75 million is planned for property acquisition, $1 million for marketing, $250,000 for rehabilitation and a whopping $20 million for “public improvements.”

If the city council would be bold enough to earmark this revenue stream toward making the Vulcan Lakes property look like it wants it to, there would seem to be no need for the Route 14 TIF distric