Financial Advisor Addresses KPD Board

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The Kingsbury Park District Board met Monday night and was addressed by Aaron Gold, financial advisor from Speer Financial.

The district has interest in applying for an Illinois Open Space Lands Acquisition and Development grant when applications are accepted. Discussions by park district officials have included improvements and additions at William Wait Park, if OSLAD funds can be obtained.

Gold reminded the board the district currently has a bond issue which will be paid off in 2024. He provided information regarding how Wait Park projects could be covered with the grant and possible issuance of General Obligation Park Bonds or Alternate Bonds.

No decisions were made by the board as it is waiting for the state to begin accepting applications.

It was announced part of the board’s August 8 meeting will allow the public to make comments about a master site plan for Wait Park.

The board approved the purchase of a storm water diverter for the splash pad. The cost is $3,875.

District Director Jerry Sauerwein said the item will be used to divert rain water outside of the pool season.

Sauerwein reported the pool continues to lose water. He believes it is due to a problem in the main drain.

The KPD director reported the only way to make repairs is to drain the pool, so it will be addressed after the current swim season ends.

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