While I do not agree that this is a disgrace, as a 20 year resident, I am certainly concerned and believe this is risky. Orland has so many condos for sale now and several unfinished projects the risk that the Triangle will succeed despite all this is hard to believe. I just saw a sign for ANOTHER new development on 153rd St just west of the Metra tracks across from the old Andrew Building which is an eyesore in itself (how about attracting a company to locate there?). Plus the Orland Crossing development has a giant patch of land between Granite City and the townhomes which may never be completed. The Section 8 Housing south of 143rd and LaGrange needs to be addressed or nobody will pay $2000 per month to rent there. I agree with getting rid of the old stores like Randy's Market - I never went to any of them. Maybe we just just level it and make it a park until the economy comes back.

Great letter, George. With you all the way - and then some.

When you give special tax breaks to one development, other taxpayers make up the difference, with or without a "tax increase" The developer will be "paying back" the loan with: 1. Rental Income (generated from taxpayer owned property) and 2. "Tax incentives" (supplied by other OP Taxpayers). We're actually giving the developer a $62 Million loan then giving him the income stream to pay it back. We take all the risk. He gets all the reward. Sweet deal.

Great letter George. Help me get my facts straight because my memory is a little foggy.

Didn't at least one private developer walk away from the Metra Triangle Project in the past few years because the project was too risky in a troubled economy? Isn't the most recent private developer putting up only a couple of million dollars and receiving a loan in excess of $20 million from the Village of Orland Park to "develop" the property? And isn't the Village of Orland Park issuing bonds in excess of $60 million to fund all of this?

So who is the real developer of this project? It's clearly not private developers since they have either walked away from the project or simply put up very little of their own funds in ther project. Why does the Orland Park City Bureacracy (i.e., Mayor, Village Manager, and Village Trustees) think that they should put taxpayer dollars at risk to fund a very shaky real estate project that private developers won't even touch with their own money?

It's scary to think that the Administration of the Village of Orland Park is willing to risk over $60 million of taxpayer money to develop this property. Are the Administrators of the Village of Orland Park smarter than the private professional developers?

Yes, but GM is running in the black now... and Fiat recently bought into them and reinvested in the company...

http://topics.nytimes.com/top/news/business/companies/general_motors_corporation/index.html.

At this point, I'm very sadden & dissappointed. I went & waited my turn to ask questions last week & thought I was being given honest answers to my questions about how the bonds would get paid off if there wasn't enough revenue & rents coming in to pay them off after they came due. I was told one thing from Paul Grimes, but found out others were told something different from the woman in charge of financing. One neighbor even pointed out how the finance charts weren't accurate. So I still don't know what is the truth.

Plus I re-read all the printed materials & realized that the "Downtown Orland Park" ones were written as if this was already happening & being handed out as "come live in Orland because this is what it will be" BEFORE a final vote was even cast. Every news media is announcing tonight's meeting as the public's last chance to voice their concerns & ask questions. But in reality, this project is not only a done deal, it appears that its already started regardless of a final vote.

If I could ask one more question, it would be to all elected & appointed members of the OP Village Board - If you feel so strongly about this being the best move for OP Residents - would you:
1. Give up your salaries to help pay for it; &
2. Not run for re-election?

If you say yes to both, then I might start to trust you on this project.

This destroys the marketplace, do they plan to give financing to everyone that builds in Orland Park? The playing field is scewed.

If Orland Park wanted to be a landlord, they could take the $63 million and buy up all of the foreclosures in Orland Park for pennies on the dollar. If no private developer or bank is willing to finance this project, then it probably isn't viable.