Will County Forest District holds hearing Thursday on $50 million bond

The Forest Preserve District of Will County plans a $50 million bond to pay for continued improvements of forest preserves and trails.

The bond would cost $9 a year for the owner of a $300,000 home, who actually will see an 18.5% reduction in total forest preserve taxes because previous bonds have been paid off, according to the district.

A public hearing on the $50 million bond proposal will be held at 9:15 a.m. Thursday at the Will County Office Building, 301 N. Chicago St., Joliet.

The district board’s Finance Committee will vote after the hearing whether to send the bond proposal to the full board for approval at its June 13 meeting.

The public can comment at the hearing or online at publiccomment@fpdwc.org.

Property taxes from the Forest Preserve on a $300,000 home would actually decrease from the current annual level of $116 to $95 with approval of the bond because of the retirement of previous bonds that taxpayers have been funding, according to the district news release. Without the proposed $50 million bond, the property tax on the $300,000 home would drop to $86.

The bond would fund the Forest Preserve District’s 2025-2030 Capital Improvement Program, which includes more green space and improved access to open areas, according to a Forest Preserve news release.

Plans for the money include $25 million for land preservation, $12 million for regional and local trail connections along with the creation of new preserve access areas, and $13 million for habitat restoration.