Clarendon Hills has included about $5.8 million in funding for its $11.5 million downtown revitalization project in its approved 2020 budget.
The village has secured the remaining $5.7 million from outside sources for the major project, which includes a new commuter train station, along with improvements to Prospect and Burlington avenues. The overall idea behind the revitalization project is to enhance the viability and pedestrian safety of downtown Clarendon Hills.
Clarendon Hills Finance Director Maureen Potempa said the village has been able to build its reserves so that homeowners won’t be burdened with increased property taxes to cover the project expenses.
Instead, the village learned Dec. 16 that it was able to secure a 2.2% bond rate over 20 years, less than the projected 3%, meaning an annual savings of $27,000 over the life of the bonds, Potempa said.
“The downtown project definitely is the highlight of our new budget,” she said. “There’s been a lot of planning that has gone into this, and it’s exciting that the work is starting.”
The village’s 2020 budget includes net revenues of just over $22 million and transfers of about $3.2 million for all funds, totaling just over $25.2 million. Net expenditures are budgeted at about $22.9 million and transfers of about $2.6 million for a total of about $25.5 million.
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The General Fund remains the main operating budget and includes expenditures for public safety, public works, snow removal, community development and administration. Revenues are anticipated to be about $7.9 million, with transfers in of about $517,000. Expenditures are budgeted at about $7.6 million along with $1.7 million in transfers to other funds.
While the general economy has been strong in recent years, village staff pointed out that doesn’t necessarily filter down to Clarendon Hills’ revenue streams.
Retail sales tax, for example, has been relatively flat, a trend expected to continue, Potempa said.
Sales taxes are projected to represent 11.3% of the village’s overall revenues in the General Fund in 2020. Receipts for the year are estimated at $900,000; the same as the projected year end for 2019.
The village is projected to receive $4,133,191 in property taxes in 2020 for the General Fund, a 2.5% increase over the prior year’s estimated collections.
While property taxes represent a significant portion of the General Fund revenues, they represent only about 11% of the total tax bill for Clarendon Hills property owners. The remaining 89% of the tax bill funds the schools, library, park district, Downers Grove Township, DuPage County, and the Blackhawk Mosquito Abatement District.
Hinsdale-Clarendon Hills Elementary District 181, at 45%, and Hinsdale High School District 86, at 25%, receive most of the property tax revenue.
Village Manager Kevin Barr said the village had secured cost savings through various staff and program revisions in previous budgets. The 2020 budget reflects minor increases in staffing in the Public Works Department and fire department, he said.
“These changes provide increased and more efficient services for our community, including improved paramedic services,” Barr said. “We were able to work in conjunction with other communities to amend the fee for emergency dispatch services for a fairer and reduced amount for fire dispatch.”
The 2020 Budget also includes other initiatives meant to improve services. These include funding for an additional concert as part of the popular summer Dancin’ in the Street series, development of economic development materials to support business development and a fire department study to consider future efficiencies.