Lake Restoration Q & A
Due to the recent bankruptcy declaration by the landowner who controls the preferred stream corridor alignment between Wonder Lake and the proposed Sediment Drying Facility (SDF) offered to us at Thatcher Meadows, the short-term likelihood of successfully negotiating an access or purchase agreement for that preferred alignment has disappeared.
The $ 5.9 Million in lake restoration bonds authorized under SSA # 9 have been sold, and the funds are now being held by a trustee.
Earlier information provided to the MPOA led us to believe that the payment amount for SSA # 9 that would appear on the property tax bills received in 2011 would be for a reduced amount.
After this information appeared in the most recent MPOA newsletter, it was brought to our attention that the amount due on the 2011 tax bills would instead be closer to what typical payments will be for the balance of the SSA period.
By a vote of 19 YES, 2 NO and 1 abstention, The County of McHenry Board voted to APPROVE an ordinance authorizing the County to issue a $3,820,000 bond through the American Recovery & Reinvestment Act (Stimulus Bonds). The balance of the money necessary to fund our dredging project will come from a Village of Wonder Lake bond in the amount of $2,110,000.
T.P. Mathews filed an appeal September 16, which was received by the MPOA through the mail September 21st. The MPOA and its attorney Dean Krone of Hodges, Loizzi, Eisenhammer, Rodick & Kohn have filed a motion in response for sanctions against Mathews and his attorney to recover funds they have spent on defending these lawsuits.