Hey Look at the New State Motto

Watch out McDonalds—your golden arches are being challenged

Hey take a look at the Zoning change notice.  Sonics is coming to Belvidere.  During the Christmas holiday I was shopping at Algonquin Crossings off of Randall Road in Algonquin. They were opening one of these restaurants.  There was a block long traffic jam of cars all trying to get into the drive-up.  If you kids attend any of the colleges in the Southern part of the state they can tell you all about the menu.

1/2/9/16
Notice of Public Hearing
You are hereby notified that a public hearing will be held by the Belvidere
Planning and Zoning Commission on Wednesday, January 21, 2009 at 6:00
P.M. at the Belvidere City Hall, 401 Whitney Boulevard, Belvidere, Illinois,
61008 for the purpose of considering a special use application submitted
by the applicant, Mason Harrison Ratliff Enterprises, LLC on behalf of the
owner, Landmark Five, LLC to amend the approved planned community
development (Section 150.907 of the Belvidere Zoning Ordinance) for
the commercial development of a Sonic Restaurant on .75 acres near the
intersection of State Street and Van Epps Drive in Belvidere Township (PIN:
05-22-403-001). The property is zoned PB Planned Business District.
The subject property is legally described as follows:
Lot One of Plat 1 of Landmark Crossings, the plat of which is recorded in
Plat Index File Envelope 324-A as Document Number 2005R07560 in the
Recorder’s Office of Boone County, Illinois, being a subdivision of part of
the East Half of Section 22, Township 44 North, Range 3 East of the Third
Principal Meridian, Boone County, Illinois.
All persons interested in said petition may attend and be heard at the stated
time and place.
Dan Snow, Chairman
City of Belvidere Planning and Zoning Commission
Published in the Boone County Journal 1/2/09

Mystery Grant

I just found out a few things about the sewer/water grant that the City of Belvidere (I think) is applying for.  It is for $600,000.  It will connect from the facilities at Belvidere North High School and run along the road to the nursing home.  It is a 4 inch water pipe, 12 inch sewer with an 8 inch service to the property at Squaw Prairie and Route 78.  The line is intended for a $20,000,000 apartment/extended care facility to be built and operated by the current management of Maplecrest Nursing Home on land owned by Boone County.  The county would lease the land to Maplecrest management.   The total cost of the city’s water/sewer project is in the neighborhood of $1,000,000 which would not include a required lift station which would be built and operated by Maplecrest management.  This is all “third hand” so I may have taken it down wrong.

Ms. Becky Tobin, Assistant Administrator of Boone County, is writing the grant (for the city I guess).  I understand that by Friday evening Ms. Tobin will have a skeleton of the grant application on the county’s website:  http://www.boonecountyil.org   Thus  written details of the grant application should be available for public review before the official public hearing on Monday, January 12, 2008.  That meeting is at 6:00 PM at Belvidere City Hall.

I hope to attend.  I would be happy to relay any questions;  use the email site above or my personal email.

Does anyone know if the county has completed the formal agreement (lease) for this planned apartment/care facility?

Anniversity Date: One year ago Belvidere School District 100 attempted to increase your taxes without referendum

If you want to remember what the issues were,  take a look at the Boone County Journal’s February 22, 2008 article concerning the school board’s “tabling of the issue”.  See:  http://boonecountyjournal.com/news/Boone-County-News-02-22-08.pdf   it is on page 1.  Or if you wish look at today’s posting on:  http://district100watchdog.blogspot.com

Paying the Bondsman--corrected

I just received a correction on this section--Boone County borrowed $5,200,000 ( before I stated  just under $5,000,000) for the courthouse and administrative building remodel and construction. The county only netted $4,995,000 for the bonds;  the rest paid for underwriting cost, primarily insurance on the bonds.  Thus those cost were $205,000/$4,995,000 or 4.1%.  That seems high perhaps someone else can comment.  I am quite amazed because before the actual sale of bonds, the county administrator’s cash flow projections was using the entire $5,200,000 as the projected cash flow for the building project.

Using a present valuation of principle and interest payments,  I calculated the effective interest as 5.12% because only $4,995,000 actual cash was received.  If no insurance had been paid the rate would only have been 4.62%.  The difference is 0.5 %.  My calculations are below:

 

Repayment will be from the Quarter Cent sales taxes which the county receives.  These funds also are a revenue source for the county’s general fund.  If there is inadequate sales tax revenue,  will the county board increase our county real estate taxes?

 

 

Here are some of the numbers which I currently have:  First is the Quarter cent sales tax, note that it is running way below budget.  It is short approximately $26,000 ; it is only 87% of the budgeted amount as of the end of October.  Hopefully I can receive some updates in regard to the current months and see if there is any improvement.

As shown below the cash flow needs for the bonds is a little less than 50% of the total cash flow of the Quarter Cent tax.   The total bond interest and principle due for FY 2009 is $437,366.26.

The Quarter Cent sales tax is not the only revenue source which is below budget.   Is the county watching the numbers?

Where is the county going with its 2020 plan?

The Boone County Journal in the editorial on December 12, 2008 stated that --

“If 100 people outside the county courthouse were
asked how the building would be expanded to provide
more space, we doubt if anyone could state with accuracy
what will occur.”

Well I think we should make certain a few of us understand the county’s plan.  Whether the plan is good or bad , I am indifferent.  I just want to do what the county administration and elected officials don’t have time to do—explain what their plan is. First of all—they call their building program the 2020 Plan.

I am using the documents supplied to me by Mr. Terrinoni when I asked my representatives about the 2020 Plan.  The latest update was in November 2008.

 

We need to understand what exactly is being built, remodeled and purchased.  There are three major items on the 2020 plan:  (a) purchase of approximately 5 acres next to the Logan Ave Building,  (b)  adding 12,100 square feet and remodeling 4000 square of office space at the Logan Ave Building  and  (c)  remodeling the Courthouse for the circuit clerk, courts and probation. A thumbnail of the August 5, 2008 Space Plan is below. Please note the financing plans in item #5 changed and $4,995,000 was provided by bonds.

Click on it for a larger view.

 

Below is the Design Development Cost Estimates for the 2020 Plan.  Going first for the totals.  $5,203,954 is the projected cost of the land purchase ($850,000), building construction costs ($3,985,046), profession fees ($298,909), building permits ($30,000) and furnishing allowance ($40,000). The profession fees are actually $51,203 higher because of previously paid architectural fees.   There is a “Probation Additive Alternate”  for $576,184 however that appears not be being pursued at this time.

It is difficult from the figures supplied to exactly split the cost at the Logan Ave facilities from the courthouse complex.  Logan Ave probably will receive the bulk of the landscaping, site work and site lighting which total  $352,480. The cost of the new space construction  at Logan is $ $2,204,179 ($182 per square foot) and remodeled space $328,545 ($82 per square foot).   Based upon construction costs and square footage 80% of the professional fees($239,000)  appear to be due to Logan.  Adding these figures to the $850,000 land cost, the total for Logan is just under $4 million ($3,974,204). From the figures supplied, 16,100 square foot of additional space will be provided.  Thus the square footage cost for this space is $3,974,204/16100 or $246.85 per square foot.  Granted the land maybe large enough for future expansion, nonetheless the figure appear very high to me; especially since 4000 square feet of the 16100 square foot project is remodeling.

With the exception of the County Board’s current conference room which is already used as a court room, nearly all of the old administrative offices have some cost associated with the court’s reuse of the facilities.  An additional 16,654 square feet will be used for court related activities.  There are no cost associated with 2331 square feet, $5 per square foot cost on 5499 square feet ($27,495), $80 per square foot cost on remodeling 624 square feet of the entrance ($49,920),$80 square foot cost relocation for law library ($33,760), $68.34 per square foot cost on converting 4,818 square feet in the old Treasurer’s and County Clerk’s offices to the Circuit Clerk’s Office($329,479), finally a courtroom/Jury and Judge’s chambers construction, $148 per square foot for 2960 square feet($439,188).   I have estimated that 20% of the professional fees ($59,909) for the courthouse complex.  The total building cost for the courthouse is estimated at $940,000, (actual figure is $939,751).  The square footage cost of additional court space is $936,751/16,654, $56.43 per square foot.

Costs which I was unable to allocate to either building were $100,000 in shelving , $120,000 in contingent heating , $30,000 in permits (total: $250,000).  Plus a $40,000 furnishing allowance.

 

Here are some additional handouts regarding the County’s big construction project.  The first is the sequence of the events that will be occurring:

Next are some of the cash flow projections for repaying the bonds:

If we have questions, I think we ought to gather them together and ask that the county board provide us a formal response.  If you have a question use either the comment section of the blog or email me at:  boonecountywatchdog@gmail.com. 

Uncapped taxes on your bill--Is Rock Valley's 7.6% increase too much?

Talked today with Sam Overton, Rock Valley College, Chief Financial Officer. The following is a synopsis of the major items discussed and my personal analysis of Rock Valley's levy request. The numbers are derived from fact sheets from Mr. Overton sent via email.

1. Rock Valley is not subject to tax caps because the college has taxpayers within Ogle County and that county is not subject to tax caps.

2. As far as taxes, the administration's long term goal is to keep a constant tax rate for Rock Valley College. That is, the combination of (a) the corporate and special purpose property tax for Rock Valley and (b) its debt service and public building commission taxes, should not change. A rate of .4500/100 is the goal.

3. The projected combined rate for 2008 tax year (amount paid in 2009) will rise from .4421/100 to .4534/100 (2.6% increase). There is a projected (best guess estimate) of a 5% increase in the valuations of housing. Thus a 7.6% increase in an individual homeowner’s taxes is anticipated. For a house evaluated at $100,000 in 2007 the rate increase and assessment valuation increase would mean that taxes to Rock Valley College would climb from $147.37 to $158.68, an $11.31 increase.

4. I have attempted to review Rock Valley’s combined rate over time and compare it with the college’s goal in item #2—combined rate shall be held constant.

------------2002-----2003-----2004-----2005-----2006----2007------2008-----Averages
Rate/100--0.4351---0.4528---0.453----0.4471---0.466---0.4421----0.4534---0.449929
% Increase----------.07%----.05%-----(1.3%)---4.23%---(5.13%)---2.56%-------0.74%


Here is what I found out. Only in two years were there actual decreases in rate (2005 and 2007).The average combined rate is .4500/100. The 2008 rate of .4534/100 is less than 1 per cent different from the average rate.


5. Taxes are collected in multiple counties all with different payment dates. The college is on July 1 fiscal year and thereby a single year’s tax revenues are recorded in two fiscal years. It appears that the college budgets for a revenue stream from taxes at the .4500/100 rate.

A buildup of the combined rate—the multiple tax rates for various funds—is shown on one of Mr.Overton’s attachments. I am attempting to view the individual rates to see which increased the most. Thus far of the .0382/100 increase, most of it is in the Protection, Health & Safety tax-- this increased from .0377 to .0491, a 30.24% increase or a .0114/100 increase. The Protection, Health & Safety appear to vary a great deal from year to year. Debt Service levies increased from .0924 to .0955 or .0031/100 of the increase. Thus far I have accounted for 38% of the rate increase.