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Trustees in Orland Park this week voted to issue $15 million in bonds to finance both development and preservation efforts.
Mayor Dan McLaughlin said village officials have four projects in mind: building a new recreation center, developing the Davidson Concrete property and land in the Interstate Highway 80 corridor and buying open land.
The bond issue will add between $69 and $77 to the tax bill on a $250,000 house, village officials said.
Trustee Bernard Murphy cautioned that projects should be prioritized before the debt goes too high.
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The village will shortly need a new library and a new police headquarters, Murphy said.