After two debt limit increases, the City’s general obligation debt broke the $200 million mark earlier this month in selling another $14.5 million bonds to finance the Robert Crown Ice and Library Center, and $12 million for other capital projects....
Category: BUDGET & SPENDING
BUDGET & SPENDING, Robert Crown
Alderman Misled Public on City’s Crown Meetings
The previous version of this story incorrectly dated The Daily Northwestern interview as 2018. We regret the error. The Daily Northwestern's February 2019 interview with Ald. Don Wilson reported that "since January 2016, the City has held 31 public meetings,...
BUDGET & SPENDING, Robert Crown
Evanston Failed Minimum Required Notice for $85M Bond Sale
Evanston fell substantially short of its required public notice for its June 25 hearing to sell up to $85 million of its general obligation bonds. To date, the City has issued $52.5 million of those bonds, pledging to repay the...
BUDGET & SPENDING, Robert Crown
First LOI released: Robert Crown as “Home of Beacon Academy Wolves”
The City has made its first public release of a private funding term sheet for the new Robert Crown Center. The agreement, between local private school Beacon Academy and Friends of Crown, offers the first glimpse funding contingencies built into...
BUDGET & SPENDING, Robert Crown
What you Missed from Mayor’s Town Hall
Contaminated water, lack of current infrastructure funding and affordable housing plans, future of Harley Clarke, free beach pilot plan and parking meters: a recap of Mayor Hagerty's Town Hall. Skip to: James Park Water Contamination Case | Affordable Housing | Robert Crown Project | Harley Clarke | Free NU...
BUDGET & SPENDING, Robert Crown
Unicorns and Fiscal Gaps: Recap of Robert Crown Meeting
When City Manager Wally Bobkiewicz first recommended Robert Crown's new construction back in 2009, he suggested it was feasible to expect it could be done with no money to the City. Left, Bobkiewicz recommendation; Right, Ald. Wilson response As...
BUDGET & SPENDING, Robert Crown
City to Host Meeting Wednesday on Robert Crown Community Center
Updated Feb. 17, 2019 The City is hosting a community meeting this Wednesday, February 13, 2019 to discuss concerns regarding the Robert Crown project's escalating costs ($53.3 million), debt service ($80-90 million, depending on bonds issued this year) and controversial private deals...
Robert Crown Center Debt Service Sale & Projections
Current debt repayment for bonds issued for the Crown project is $69,815,822. The City has authorized sale of another $12,330,000 in bond sales, which, if issued at current interest rates, would bring the total debt repayment to $91,653,194, or about...
BUDGET & SPENDING, NEWS, Robert Crown
Evanston’s Financing for $90 million+ Robert Crown Project & Debt Costs
The City of Evanston's will have to maneuver its budget over the next 25 years to account for the $91.1 financed price tag for the new Robert Crown Center's $53.3 million construction and almost $37.8 million debt service costs. The...
BUDGET & SPENDING, Robert Crown
Timetable of Robert Crown $18-$53 million cost increases
Robert Crown Center project costs soared from $18 million to $53 million in three years. Much of the new costs can be attributed to increased scope, such as additions of a third artificial turf field and larger and additional interior...