Plans for development of the Wing Pointe residential subdivision on a 209-acre site on Huntley’s east side have been narrowly kept alive with the Village Board voting 4-3 to establish a special service area to help finance the project.
By designating the site as a special service area, the village can issue revenue bonds, which are retired by property owners who buy into the development.
In the bond issue requested by developer John Carroll would be $5 million in off-site improvements, including a new well, a water tower and a $1.8 million renovation of the village’s waste water treatment plant.
Public Works Director Jim Schwartz told the board the project was particularly urgent. But Trustee Charles Becker said he was concerned about losing “one of the village’s most important assets, our open land,” and said he would rather “slow things down a little” before endorsing the bond issue.
Mayor Jim Dhamer cast the tie-breaking vote.
