Lakewood Village Board Putting Cart Before the Horse on New RedTail Clubhouse

Since the first meeting when a new clubhouse was discussed with residents, I have been asking how ir will be financed.

The only information I have been able to glean is that it will be

  • golf course revenues
  • developer impact fees designated for parks (is a clubhouse a park?)

No one thinks this will provide enough money.

The electorate remembers all too well how a previous village Board screwed things up by issued Alternative Revenue Bonds.

That’s a non-referendum bond issued on the promise that property taxes will pay for any shortfall.

So, I figure that’s a non-starter.

The only alternative I can see is a non-referendum borrowing device called “Debt Certificates.”

Very few taxpayers have any idea what they are.

They sound harmless, don’t they?

But, Debt Certificates have the same deficiency as Alternative Revenue Bonds.

If the golf course spins off too little profit, homeowners will be forced to pick up the difference.

Now comes the Village agenda for Tuesday night’s meeting with bids for “subsurface exploration and geotechnical engineering services for the planned construction of the new building in Lakewood, Illinois.”

I’m not aware that a public decision has been made to build a new clubhouse, but that’s surely what this map indicates:

Map showing boring outline where RedTail Clubhouse is located.

Comments

Lakewood Village Board Putting Cart Before the Horse on New RedTail Clubhouse — 8 Comments

  1. I’m guessing there is just the right amount of behind the scenes glad-handing and backslapping and eye poking, to continue carrying this turd over its financially disastrous conclusion.

  2. Are there any multi-millionaires living in Lakewood, Crystal Lake area who have golfed at Redtail or elsewhere and love the game?

    They could be asked to pay for a good part of thee “Clubhouse”.

    It could be named after him or her.

    Such as the John B Smith Redtail Clubhouse.

    Or Jane B Smith Redtail Clubhouse.

  3. YEP SAME BS that went on with the very questionable annexation out ballard rd to 47 to pleasant valley!!!

  4. Taxpayers be damned!

    The way it always is…. until a real insurrection.

  5. Again, if they can’t support themselves, they should have to de-annex or unincorporate and turn the city over to the county…..PERIOD.

    Tax the people during a recession, are you kidding me??

  6. Wilson, Skinner, DJ, Bred Winner, SS, MsTrumpion, Eich and Javon Sheppared – wah, wah, wah… geniuses in their own minds and the purveyors of mindless thought.

  7. Don’t include me with that esteemed group, I’m just a rando internet drunk.

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