AHPD Referendum Information Packet

A r l i n g t o n He ights Park District

Neighborhood Park Referendum

March 20

Your Vote Matters!

On March 20, 2012 you will be asked to vote on a $48 million bond issue that will impact the future of the Arlington Heights Park District.

The proposed referendum funding would allow the District to spread a $48 million bond issuance over a 25-year period.

The focus of the referendum is to renovate Camelot, Heritage, Frontier and Recreation Park community centers and parks by the year 2016.

Low interest rates and low construction costs make this a favorable time for renovating.

Mission

The Arlington Heights Park District enriches the community by providing quality recreation, facilities and fun.

How would the Arlington Heights Park District invest the $48 million?

1

Approximately $44.2 million will be allocated toward improving, through renovation and new construction, the parks and community centers at Camelot, Frontier, Heritage and Recreation Parks; acquire park equipment; improve, maintain and protect neighborhood parks and facilities.

2

The remaining $3.8 million in funds will be used for capital improvement projects that are prioritized based on community needs and park necessity at Sunset Meadows Park, Frontier Park, Centennial Park, Melas Park and Lake Arlington.

How much would the referendum cost taxpayers?

For every $100,000 of a home’s market value, the referendum would cost the homeowner less than $12.00 more per year for the next 25 years based on current interest rates. The median home value in Arlington Heights is $300,000.

Home Value $100,000 $200,000 $300,000

Annually $12.00 $24.00 $36.00

Monthly $1.00 $2.00 $3.00

Calculate your tax impact with our interactive calculator at ahpd.org

Answers to more frequently asked questions can be found at ahpd.org 410 N. Arlington Heights Road | Arlington Heights, IL | 847.577.3007 | www.ahpd.org

Why is the Park District conducting a referendum that would raise our taxes now?

The improvement plan that this bond supports provides for new and flexible programming space that our residents have requested. The plans will accommodate adding new programs, expanding enrollment for existing programs, and allows us to update current facilities and parks at Heritage, Frontier, Camelot, Recreation and others in ways that will ensure patron safety and will address accessibility issues at those facilities. We’re trying to leverage current construction costs and financing options available today. As the economy picks up, so will the cost of borrowing funds and construction costs.

How will the bond be structured?

In order to generate the funds needed, the Park District would need to increase its tax rate by an average of 3.6 cents to pay the debt on the bonds. The tax increase needed per $100 of taxable value is based on the following assumptions: · Bonds will be sold in multiple series over a period of three years. The first year of impact will be the 2012 levy year payable in 2013. · An Interest rate of 5.00% is assumed on each series of bonds. Currently, the average rate for Aaa municipal bonds is far lower, at or about 3.75%-4.00%. · A 1.0% increase in annual equalized assessed valuation is assumed. The 1% increase relates exclusively to new property growth and reflects the Park District’s historical experience over the past 17 years.

The bond issue would be structured to gradually add the tax increase and reduce the impact on the homeowner. For example the first year’s impact would be an increase of about $20 for a home with a market value of $300,000.

Each subsequent issue would provide an incremental increase with a $36 cumulative effect. The tax would remain relatively constant thereafter through the 25-year term of the bond retirement.

The District may alter the structure as determined at the time of each bond sale, based on interest rates and other market conditions. The tax impact will not be more than the impact as described above.

March 20 410 N. Arlington Heights Road | Arlington Heights, IL | 847.577.3007 | www.ahpd.org

Did you know?

The Arlington Heights Park District has the second lowest tax rate for Park District's in Cook County with populations between 50,000 and 100,000.

The Park District levies a property tax; it does not levy any sales, hotel/motel or entertainment tax. The Park District is not a department of the Village of Arlington Heights.

The Arlington Heights Park District annually employs 1,200 people.

Did you know?

· AHPD is a three-time National Gold Medal Award recipient for excellence in park and recreation management. · AHPD is an Illinois Distinguished Accredited Agency. · AHPD maintains an Aaa bond rating from Moody’s Investors Service, Inc. This is the highest rating available and allows the Park District to issue debt at the lowest possible interest rate.

A Pioneering spirit inspired us

Our experience rebuilding Pioneer Park Community Center influenced our decision to approach Camelot, Frontier, Heritage and Recreation Park’s in a similar manner. Since reopening the new Pioneer Park Community Center in 2008, the park has met residents’ and AHPD’s needs and expectations.

· AHPD is one of only eight Illinois Park Districts at the Aaa rating level. · GFOA Distinguished Budget Presentation Award 2003-2010 · GFOA Certificate of Achievement for Excellence in Financial Reporting 1989-2010

March 20 410 N. Arlington Heights Road | Arlington Heights, IL | 847.577.3007 | www.ahpd.org

See the complete plans and take a virtual tour of the facilities at ahpd.org

Camelot Park 1005 E. Suffield Dr.

Your input is important to us.

Visit our website at ahpd.org to learn more facts about the Moving Forward, Together.

Neighborhood Park Referendum 2012 or to submit your own questions.

Frontier Park 1933 N. Kennicott Dr.

Feel free to contact us directly.

Steve Scholten, Executive Director sscholten@ahpd.org

Brian Huckstadt, Director of Parks & Planning bhuckstadt@ahpd.org

Recreation Park 500 E. Miner St.

Park Board of Commisioners Maryfran H. Leno, President Myles Naughton, Vice-President Rob Nesvacil, Board member Rob Smith, Board member Bob Whisler, Board member

Heritage Park 506 Victoria Lane

March 20 410 N. Arlington Heights Road | Arlington Heights, IL | 847.577.3007 | www.ahpd.org