MAPLE PARKâ€”Recently, the Maple Park Village Board has been looking into alternative ways to finance projects, as the General Obligation Bond will expire in 2011.
At Monday’s meeting, the board decided on the first step of the process, choosing to look into a tax increase.
â€œThe tax increase will be no larger than the decrease of the G.O. Bond,â€ said Board member Mark Delaney.
While there are other options, a tax increase would allow flexibility on what the revenue will be used for; the other options would limit the revenue for use on a specific project.
The board will vote on whether or not to pursue a referendum for a tax increase at next month’s meeting, and if passed, the measure will be included on the ballot in April 2011.