Independent Elmhurst
Elmhurst’s Locally Owned and Operated Hometown Newspaper
VOL. 21 • NO. 43
Economic impact could be as much as $16.5 million, consultant’s report says
FOR THE ELMHURST INDEPENDENT
As Elmhurst considers an indoor sports facility, a consultant to the City has outlined three types to consider: an ice arena, a gymnasium and a turf facility. The report, which is on the City’s web site, did not discuss a location. The estimated total output (direct spending plus indirect/induced spending) for a facility is between approximately $11.9 million and $16.9 million per year. Additionally, this spending is estimated to generate between $5.9 million and $8.2 million annually to boost the local Elmhurst economy. The project will also create between 160 and 225 full and part-time jobs. Bill Krueger, a consultant with CSI, said conversations with the City and the Elmhurst Park District have indicated that General Obligation (G.O.) Bonds are likely the most viable source of funding. While a property tax increase is an option, he noted that it is not the only viable mechanism for generating the annual revenue necessary for debt service. Developing a Tax Increment Financing (TIF) district, or extending an existing TIF nearing closure, may provide a significant source of funds. Another potential source of funding might be an increase in the City’s hotel/motel tax.
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City discusses three types of indoor sports facilities By Dan McLeister
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With respect to engaging the private sector, Krueger stated that naming rights sales have been used more and more often in amateur sports facility development and/or ongoing operational funding. These partnerships may extend beyond the private sector, Krueger said. Consideration of partnerships with Edward-Elmhurst Healthcare (for wellness aspects), Elmhurst College, IC Catholic Prep or other local education institutions may provide an opportunity to minimize the funding burden on the private sector. He also said they might consider a private equity partner, who would assume the majority of construction funding and operating risk. Alderman Scott Levin (5th Ward), chairman of the Development, Planning and Zoning (DPZ) Committee, said the study by CSI was very good and provided an opportunity to consider plans, but said no action would be taken at the October 11th meeting. An indoor sports facility has been discussed off and on periodically for about two years. At a joint meeting with the DPZ, Vince Spaeth, president of the Elmhurst Park District Board, spoke. “This is a very rough concept,” he said. “I’m all ears. We are not very far down the road.” A proposed ice arena would in-
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THURSDAY, OCTOBER 20, 2016
At the Fire Prevention Week open house
Sophia, 6, and Tessa, 2, Hendricks get a big hug from Sparky the Fire Dog at the Elmhurst Fire Station located at 601 So. York on Saturday, Oct. 15. Besides plenty of refreshments and free fire hats (including pink ones for the girls!), activities included holding a hose to put out a “fire,” checking out equipment like the Jaws of Life and visiting with a therapy dog. More photos inside this issue.
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DEE LONGFELLOW PHOTO Elmhurst Independent
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