Logan County Board discusses financing courthouse restoration

 

[July 19, 2019] 

LINCOLN 

At the Logan County Board’s Regular Board on Tuesday, July 16, one focus of discussion was what kind of funding commitment the county can make for the courthouse restoration. Senator Bill Brady and Representative Tim Butler need figures in order to be eligible for funds from the recently signed $45 billion Illinois Capital Bill.

Board members present were Dave Blankenship, Emily Davenport, Janet Estill, Bob Farmer, David Hepler, Steve Jenness, Chuck Ruben, Bob Sanders, Scott Schaffenacker and Jim Wessbecher. Annette Welch was absent.

Blankenship, who chairs the Buildings and Grounds Committee said Senator Brady has given the county approximately two weeks to get him a report as well as a means of committee or pledge the county can put towards the courthouse renovation project.

Blankenship urged the board to consider calling a special meeting, so the county does not miss out on this opportunity with funding from the Capital Bill. As the measure would require matching funds, Blankenship thinks the board should explore some bond options.

Ruben, who chairs the Finance Committee, understands the need to get Brady some figures, but said the board could probably already produce those figures. Even after the county talks to the bond representative, Ruben said there will be an extended period where voters could come in and demand a referendum, so it will all be guess work.

Looking at the fund balances of both the Airport and the Farm, Ruben said portions of these balances could be used to provide a figure. In addition, Ruben said anticipated $400,000 to $450,000 from reissuing the current bond held by the county can help with the best estimates for now.

There are no revenue streams to pay off any higher bond at the moment, Ruben said it would be nice to have an extra $25,000 to $50,000 a year that the county could use to supplement an additional fund, but it is not there. He said having a meeting will not make the money be there and may not give the board any more answers.

Wanting to do everything that can be done, Blankenship said putting a referendum on the upcoming ballot should be considered and that could be part of the report for Senator Brady. Blankenship understood Ruben’s point, but said we need to do everything we can, so we get the funds from the Capital Bill.

The next election will be March 17, 2020, but County Clerk and Record Theresa Moore said a referendum must be on the ballot before December 31.

Since funds are needed for both the courthouse renovations and safety complex expansion, Ruben said putting the referendum on the ballot seems like a given.

Hepler asked if the board could vote to put a referendum on the ballot early enough to campaign for it, and Moore said that could be done.

Logan County Treasurer Penny Thomas said a bond guy would be here next month to discuss some options.

Schaffenacker asked if the purpose of the meeting would be to put a referendum on the ballot.

Board Chairman Davenport said a bond representative and restoration specialist Bill Walter would come and explain the options.

Sanders said a meeting would be a good move to show the county is trying to move forward and wants to strike while the iron is hot.

For Senator Brady’s report, Blankenship said Walter can do a projected total cost for renovations and Walter has told him the national average for financial commitment is 50 percent. Blankenship said he knows the county probably cannot do that, but will see what Brady and Butler will accept.

The county can start getting everything in place, though Blankenship said that does not mean the county has to accept the bond. It does take time, but he said working with a bond specialist may lend credence to what the county is trying to do.

The process does take a certain amount of time and Ruben said having a special meeting saying we are going to do the bond is not going to change anything. It would require a back-door referendum bond, just as it was last time, and Ruben said the board must give it a couple months for voters to come, so the board cannot tell Brady whether the county will get the bond or not. He said the board has already done as much as it can do and looked at all the options available without a referendum.

Blankenship asked the board to decide what to do.

Schaffenacker said he would feel more comfortable waiting until Walter is done with the bid specifications, which Walter said would take three months. Schaffenacher feels doing that would put the county in a better position.

Blankenship asked Schaffenacker if he was opposed to giving Brady and Butler commitments.

Schaffenacker said he is not against it, but what the board would be giving them is just estimates and they could do that next month.

Sanders said the board should “strike while the iron is hot” since other counties want money from the Capital Bill.

Hepler asked Davenport how much time she thought the board has to work with.

Since the General Assembly adjourned May 31 and it is now mid-July, Davenport said things should be rolling pretty fast.

Ruben said he is not saying they should delay what to tell Brady and Butler. He said the board could tell what they are planning on doing right now since they know what money is available in the fund balances and how much they could scrape together.

The board also knows the bond is extendable and Ruben said if it is not extendable, the county would be able to pay it off and take out a new bond. He said a letter could be sent to Brady without spending the dollars to have a special meeting.

The discussion ended without the board deciding what to do.

[Angela Reiners]

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