I find it curious that the village board and village manager keep citing the “privately owned” as a reason why this development will be better than other developments the village don’t own. But the proposal is to SELL the PUBLIC property to a PRIVATE owner. The village will be in the exact same situation as they are now with the car dealerships. If Mr. Malk changes his mind on what he wants to do, goes bankrupt, or even dies we could be in the same situation as with the Bob Rohrman property.
Secondly, he cites property and sales tax revenue as his primary reason for supporting this development. He states “we must find ways to increase revenue; that is a fact.” No that is an opinion. There are plenty of ways to cut costs without sacrificing core government services. The Village of Buffalo Grove has recorded an all-time record high amount of revenue in the most recent fiscal year (2012). They are significantly raising water & sewer rates over the next few years that should net them an additional $3M per year when the rate hikes are completely phased in. They are raising fees left and right too. Meanwhile, while they are raising rates on all of us they are proposing a massive special property tax cut for Mr. Malk in the form of a TIF district. Also, if they form a TIF district in this area because the current EAV is $0, up to 100% of the property tax revenue will stay in the TIF district for 23 years. It can’t be used by the village for other things such as police, fire and public works outside of the TIF district.