With a public hearing set for next week on the matter, the Huntley Village Board’s committee of the whole Thursday night discussed establishing a special service area to fund development of the Wing Pointe subdivision.
Developer John Carroll is asking the village to designate the 207-acre tract as a special service area to raise the $17.9 million he said he needs to begin the project.
As a special service area, the village could issue bonds that would be retired by the Wing Pointe property owners as the project is developed.
More than $5 million of the bonds would be directed toward utility improvements, including a new well and water tower and an extensive upgrade of the village’s waste-water treatment facilities.
But Trustees Dennis Beeskow and Charles Sass questioned, as they have in the past, whether the village should authorize issuance of bonds in excess of the utility improvements.
Voting on the overall question last month, the board was divided, with Mayor Jim Dhamer casting the swing vote in favor of the request, keeping the issue alive until next week’s public hearing.
