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First 9750 Bond Sale is Set to Go

The first step toward funding an apartment complex in the Main Street Triangle passes the board. Read our full meeting transcript below.

Update, 5:53 a.m. Tuesday, March 20

Orland Park will soon begin selling bonds to help fund the first development within the , a $60 million luxury apartment complex.

To start off $20 million in bonds will be sold. Barbara Chevalier from Speer Financial suggested Monday night that the board open the bond sale up to a competitive bid. The board could still pick an amount of bonds that would be available for local sale. She also pointed out that the village's high credit ratings and past history with bond sales would make them a sought-after item for buyers.

Brad O'Halloran was the single no vote on the bond sale, but not because he disagreed with the type of sale. He said after the vote that he disagrees with the bond sale as a whole.

Ground breaking for the building will happen 9 a.m. Wednesday.

Original Post, 5:53 a.m. Monday, March 19

Starting at 6 p.m. tonight, we will be once again using the live-blogging system Cover It Live to give a minute-by-minute rundown of Monday night's  meeting. This is still a new foray, so we ask for just as healthy a dose of patience as before while we move forward with this format. 

Look through the Cover It Live window, and you’ll see an area where you can join in.

Attached are media packets for what will be discussed tonight. Leading up to the meeting, let me know if there's anything you particularly want to know about in the comments.

Landmark Flooring March 19, 2012 at 12:26 PM
Congrats to The Patch! What a great way to keep our community informed!
Andrea Williams March 19, 2012 at 01:47 PM
I really like that you put up the press packet.
Ben Feldheim (Editor) March 19, 2012 at 05:19 PM
Thanks folks.
Todd Probasco March 20, 2012 at 03:16 AM
Ben great job as usual and congrats to the Sandburg Varsity Cheerleaders!
Andrea Williams March 20, 2012 at 01:22 PM
The chairman of the Finance Committee (Brad O'Halloran) votes "no" to the village bond sale for the Nifty Fifty project but all the others fall in line with McLaughlin. Included in the "others" are two trustees up for reelection in 2013....Jim Dodge and Kathy Fenton. Pay attention folks.
paul cervenka March 20, 2012 at 01:42 PM
It was I that asked Jim Dodge about taxpayers buying these Bonds last fall. I urge everyone that can, to take advantage of this investment. Your on the hook for the debt so get some of the upside. Keep in mind, the village still has a 10 million dollar property tax case with the mall and millions more to update our water supply with Oak Lawn. Keep a watchful eye on Orland Parks open lands ($). This is cash and polititions can make that disappear real quick when things go wrong, for us. Andrea Williams mentions Ms. Fenton running for re election. Maybe we'll get 139th street connected to 88th Ave. Hey mayor it's only a couple hundred feet. Make it happen.
Andrea Williams March 20, 2012 at 09:30 PM
Paul, I bet if you circulated and submitted a petition to rename 139th Street "McLaughlin Way" it would magically happen.
JSuzeH March 27, 2012 at 02:02 AM
Honestly, you're turning people off to your husband, Steve WIlliams, who is running. If he is anything like you, he won't get my vote.The last thing we need is another politician in office who doesn't work well with others. Name calling, sarcasm and pettiness is not what we need in Illinois. Thanks but no thanks.
Andrea Williams March 27, 2012 at 03:32 PM
I'm sure Fran Hurley (and Mike Madigan) will appreciate your vote. Good day.
laura February 16, 2013 at 03:23 PM
It's nearly March 2013, one year later... Can we get an honest update about the status of rentals at the hulking monstrosity of an apartment complex they call Ninety7Fifty... how's the ROI these days on our multi-millions of tax dollars at work, Dan??

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