[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6079669,"mediaKeyId","2955013-2d40c15a5be2a8d05540595831cd0f11","parentId",2955013,"title","County staff begin work on potential refunding and bond tender to capture multi-million-dollar savings","audioSeconds",202,"startMs",6783000,"endMs",6985000,"viewUrl","/Search/View?dp=1&key=2955013-2d40c15a5be2a8d05540595831cd0f11&start=6783&end=6985","thumbnailUrl","https://assets.pipeline.soar.com/2955013-2d40c15a5be2a8d05540595831cd0f11/thumbnail_6783000.jpg","articleUrl","/articles/6079669/Will-County/Illinois/County-staff-begin-work-on-potential-refunding-and-bond-tender-to-capture-multi-million-dollar-savings","mediaUrl","https://secure.pipeline.soar.com/6079669-24b8aa8036d1473952b5f6b1650cf5b6/orig.mp4?Expires=1771091793&Signature=Q-pP4QpBD5DTbGs3bA4Wzc-sIH85BIC~CqDYFtMd00-DKbUnl-gTW3Xuof-jEu3HbNqBjNe4pDsIjp8I8eEQLhRe4JjZyh4uPuPRmHanhjhPAoSiJCudZIz18p2bWvot~25rncgoa6q1CYDpGL7wmjFoMUhLsQ-7ixpKTzEhJu-fACd2sxeG9G-WFSC24geoaQJOB~gPfN4pDfVgbBI-UixCX2xNaVwTRv5jF~Qoek~aREkqH1gQ3pbCyNbBoJ8HHHDTys4jY~Z~4hm15gnYlD-hqMvOBpSvTmZet~DCrjRrZJz7LyAGnxcUhONUuc9OL3laGISl6~TSaAB1F8BhYw__&Key-Pair-Id=KUT5TJCACFTXG","author","Will County, IL","date","2025-04-10T20:38:09Z","article","Will County staff reported a market opportunity to refinance outstanding bonds and potentially buy back (tender) taxable bondholders, and the Executive Committee approved preparing a parameters ordinance that would allow staff to act if market conditions meet specified savings thresholds.

What was presented: Wells Fargo and the county’s municipal advisors presented two complementary transactions: (1) a refunding of the Series 2015 and 2016 bonds at lower interest rates and (2) a tender offer for Series 2020 taxable bonds (an offer to repurchase bonds from current holders, financed by lower-cost new issuance). The advisors and county finance staff said the window is limited and that preparing a parameters ordinance now would preserve the county’s ability to act.

Estimated savings and costs: Staff reported the net present value (NPV) savings of the refunding at about $744,000 and the NPV savings of a tender transaction at about $2.9 million (assuming a 30% bondholder participation rate), for a combined NPV of roughly $3.6 million. The tender work requires hiring a tender agent and involves fixed transaction fees; staff noted a $12,800 tender-agent fee and other market-dependent costs.

Committee action and next steps: The Executive Committee authorized staff to draft a parameters ordinance (which would set minimum savings thresholds and other conditions) and bring the ordinance to Executive and then to the full County Board for approval. The ordinance would be valid for up to six months; if market conditions change the county is not obligated to proceed. Finance staff noted the work to prepare a transaction typically takes up to three months and emphasized that the market can shift quickly.

Ending: The committee directed staff and the county’s advisors to prepare the ordinance and to return with a finalized parameters ordinance for committee and full-board consideration. If approved and market conditions are favorable, the county could proceed to capture multi-million-dollar savings.","mediaType","Video","parentTitle","Will County Executive Committee Meeting April 10, 2025","oneSentenceSummary","County finance staff and bond counsel recommended preparing a parameters ordinance to allow a refunding of 2015 and 2016 bonds and a possible tender of 2020 taxable bonds; if market conditions hold, the county could realize an estimated net present value savings of roughly $3.6 million.","taxTitle","Will County, Illinois","taxId",2549,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6079674,"Union-backed proposal urges caution on restructuring RTA governance; Will County representatives press for local voice",1369,6395000,7764000,"/Search/View?dp=1&key=2955013-2d40c15a5be2a8d05540595831cd0f11&start=6395&end=7764","https://assets.pipeline.soar.com/2955013-2d40c15a5be2a8d05540595831cd0f11/thumbnail_6395000.jpg","/articles/6079674/Will-County/Illinois/Union-backed-proposal-urges-caution-on-restructuring-RTA-governance-Will-County-representatives-press-for-local-voice","https://secure.pipeline.soar.com/6079674-6ddbfb4d47f0e83724e47d59bfdf2a37/orig.mp4?Expires=1771091793&Signature=hDuvWNPsmVj~okRHWYiv3WABGN8Bxj5s~1sq3GYXlmf0-P4F4fdIwQZUtLp0EvkhTeVnLXIA03V7wcngtwhF1ruvsQheX0Q63Nx9Utyl0KusFXd77A22TonuOBKK44on9sRlljZpBlHKInU~vUHXzO5WkI8fEo21FEdCCvvU8Be38p4qWhWDxSgY0GkkphV6zik5AOiO1AkKdpQ-bMJgWXUqNGQGjkntCujR8XTJPHLInmWwZOoxTyA2l25acGwJ6F07HIOkFYdk~qBAotfAqQRGBE-MXJnxlsPH-byoO0VTJGYrMArAieAm~nHDabGEKcY4jUnl9RG~yeneu8X4nA__&Key-Pair-Id=KUT5TJCACFTXG","A representative of the Machinists union, Brian Shanahan, briefed the Executive Committee on statewide public-transportation legislation and a labor-backed alternative, urging Will County to seek protections that preserve local input and public-safety priorities.

Shanahan described bills pending in Springfield (House Bill 2,963 and Senate Bill 19-38) and introduced a labor-backed package called United We Move (organizing labor and county advocates). He said the coalition’s aim is to improve frequency, service coordination and accountability without removing representation for suburban and collar counties.

Why it matters: Proposals to restructure Regional Transportation Authority (RTA) governance or change funding mechanisms affect who sets regional transit policy, how schedules and fares are coordinated, and which local governments have a voice. Committee members expressed concern that a single, consolidated governing board could centralize power and weaken representation for counties outside Cook County.

Key points from the presentation and committee discussion:
- Shanahan said the goal is coordinated service planning, more frequent transit service where it is needed, and preserving local representation. He cautioned that an overly broad consolidation could remove local voices and complicate labor relations and pensions. “This is our opportunity to make those changes,” Shanahan told the committee.
- Members asked how service coordination and any future revenue mechanisms would work across a six-county RTA region that includes Will County; Shanahan said the labor coalition’s bill focuses on governance and oversight rather than prescribing a single funding mechanism.
- Several committee members emphasized concerns about public safety and ridership: without reliable service and perceived safety, usage can decline, making the system less sustainable. Some members also questioned whether rural or lower-density parts of Will County would receive meaningful service improvements under regional plans.

Committee response and next steps: The presentation was informational; committee members raised questions and asked for follow-up. No formal committee vote was taken on county position during the meeting. Several board members asked staff and the committee’s legislative liaisons to track the bills, analyze fiscal impacts and report back before the County adopts a formal stance.

Ending: The labor representative and committee members agreed to continue the conversation and seek more detailed analyses on governance options, fares and funding structures before any formal county endorsement.","A rail-labor coordinator outlined union-backed legislation (HB2963 / SB1938, United We Move Act) and urged local input and safeguards, arguing consolidation without protections could diminish collar-county representation and harm service, safety and labor relations.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6079679,"Committee sends juvenile detention options to finance after presentation on River Valley and alternatives",2291,4019000,6310000,"/Search/View?dp=1&key=2955013-2d40c15a5be2a8d05540595831cd0f11&start=4019&end=6310","https://assets.pipeline.soar.com/2955013-2d40c15a5be2a8d05540595831cd0f11/thumbnail_4019000.jpg","/articles/6079679/Will-County/Illinois/Committee-sends-juvenile-detention-options-to-finance-after-presentation-on-River-Valley-and-alternatives","https://secure.pipeline.soar.com/6079679-5c420c5096fbf24f851e9a5d2c35ab9b/orig.mp4?Expires=1771091793&Signature=lFUe92Gqoy9fB1NUfZpdx9Xg3Ca4uuJGCj9RdKWUSLSv6VT3oDOTN3aiGE3NhACP23yfj~ToYX4-0HeN~yOFR4a2JR~YJQ3nVlBAg1PXLX6Pts0Sx7ggek1-16Cs5wTknbMiE1semSm2o8Hoktx580ZXovPOOwXDNFcZquEsQXAM3aoq1KYMhGe2sEkmh8PpqNDhaWmf6tZjIFj1TxcynBkzDdAWN5ovvsGXtJAzbVyZbtdX5M4nYMIT1VNORfuerZ3K9Y49Mw0N8QNyrgdl-0ha~cnqUm7CoEf4uJlU57H2R7M~Ra7fxDRRARadAJY7rBMkWI0zOflM9jWWwHZ46g__&Key-Pair-Id=KUT5TJCACFTXG","The Executive Committee voted to refer juvenile detention planning and capital needs to the Finance Committee after a presentation from River Valley Detention Center staff about three options: continue operating River Valley with targeted upgrades, move juveniles into the Will County Adult Detention Facility (ADF) with extensive renovations, or house detained youth in other counties’ juvenile facilities.

Why it matters: The county is weighing capital and operating trade-offs among (a) upgrading River Valley, (b) remodeling the ADF to provide sight-and-sound separation for juveniles, or (c) placing youth out of county. The county also currently receives out-of-county revenue for housing other counties’ youth; losing that revenue would affect the fiscal picture.

Presentation and cost estimates: River Valley superintendent Shann McCormick reported that housing Will County youth in other detention centers would cost roughly $2,250 per bed per day (presented as the per-diem bed-space range), and she estimated a roughly $1.3 million total figure tied to bed-space costs in that scenario. McCormick said out-of-county revenue the county received last year was roughly $400,000–$500,000. County staff and oversight agencies provided preliminary retrofit cost estimates: an informal, very rough estimate to retrofit the Will County ADF to meet juvenile sight-and-sound separation and other juvenile-justice standards was about $10 million; making the new courthouse’s courtroom area sight-and-sound separate was estimated roughly at $5 million. River Valley staff presented a package of physical upgrades and maintenance items they estimated at about $1.7 million and recommended increasing juvenile staff to raise capacity from about 30–32 residents to roughly 45–50 residents.

Legal and regulatory constraints: County counsel and the state oversight contacts said juveniles may be housed in the same building with adults only if juveniles are kept fully separate by sight, sound and physical presence, with separate intake, release, medical, school and visitation spaces. Mary (county legal staff) summarized: “they have to be separated for sight, sound, and physical presence,” and said any ADF retrofit would have to meet juvenile oversight standards.

Committee action: Member Trenier moved to refer the item to Finance with a second from Member Freeman; the motion carried on a roll call vote. The Finance Committee will receive a fuller cost analysis and a proposed funding path. Committee members asked for a prioritized list of immediate needs (for example, a new building automation system and changes to visitation to meet contact-visit standards) and a timeline for urgent work to address heating/cooling and life-safety issues the facility currently faces.

Ending: The Executive Committee’s referral sends the juvenile detention options to Finance for cost estimates and budget recommendations. River Valley staff said they will also pursue wireless upgrades to support virtual court and outreach to other counties to increase out-of-county placements if staffing is expanded.","After a presentation on River Valley Detention Center capacity, costs and alternatives, the Executive Committee voted to send the item to the Finance Committee to develop cost estimates and next steps for either renovating River Valley, using the adult detention facility, or housing youth in out-of-county facilities.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6079684,"Executive Committee sends proposed raises for countywide officials and board members to full board after wide debate",2834,447000,3281000,"/Search/View?dp=1&key=2955013-2d40c15a5be2a8d05540595831cd0f11&start=447&end=3281","https://assets.pipeline.soar.com/2955013-2d40c15a5be2a8d05540595831cd0f11/thumbnail_447000.jpg","/articles/6079684/Will-County/Illinois/Executive-Committee-sends-proposed-raises-for-countywide-officials-and-board-members-to-full-board-after-wide-debate","https://secure.pipeline.soar.com/6079684-ea65d5d4496b2bc0465dfc0faba6c73c/orig.mp4?Expires=1771091793&Signature=gaq29qkZACEAxVXBoayb9NveOKWzIkFh8qxldq6bedl7O2a5ow67QPAXkPgbT1fLwDdZ8xfRetefVK7Syp1xJl2j6Rb007KY68kLDX3ajRUdSlpx0VcJajnuzs0uweGnQMill2QLGyax2abjSx6i2KnleC4yaKC14nLYo3SlSjv0j~QMe3D6Wl7OPm5Mu-A9niZTsH2ZozS5sJLKg5iqXi0Iyn~rpIyKQAUIdX~1OrG7dismmCQ0yFzFoFoRwtC2k6L~MDbpTWVenODcR~E91d39ZVcAtcLCp1lpf4QkEFPfDnDy0BJkZo83o502ECUclSPHd4bjFdBF0yOeC~7gYw__&Key-Pair-Id=KUT5TJCACFTXG","The Will County Executive Committee voted to forward proposed salary increases for countywide elected officials and county board members to the full County Board for a final vote, with the committee asking staff to provide additional cost and benefit information before the Board acts.

The committee’s action follows more than two hours of discussion in which members debated whether countywide elected positions and district-elected county board seats should be voted on separately, how to present comparisons to other counties, and whether the county should account for the ‘‘fully burdened’’ cost of pay increases (salary plus employer-paid benefits such as IMRF, Social Security and Medicare). Member Freeman moved to send the proposal to the full board; Newquist seconded the motion, which the committee carried.

Why it matters: County board members and countywide elected officials set local policy and budget decisions; any approved raises would affect future county budgets, possibly across multiple annual cycles. Committee members repeatedly asked staff for a single summary showing the total dollar impact of proposed raises (including employer benefit contributions) so the full board can evaluate budget consequences.

Discussion highlights: Members pressed for separate votes on county board raises and countywide positions so voters and the board could evaluate each group independently. Member Trenier said county board members “are not county wide elected officials. We are county board members elected in our own individual districts,” and asked that the proposals be separated. Member Richmond urged the board to present the ‘‘all-in’’ cost, saying the analysis should “look at the fully burdened . . . tying in all the benefits” so the county understands the budget ramifications. Other members suggested establishing a modest, automatic annual adjustment to avoid large, infrequent increases.

Staff follow-up and timing: Committee leadership asked county staff to produce the requested financial detail as soon as possible so the full County Board can review the numbers before a final vote. The committee also directed that countywide and county board salary proposals be presented as separate votes at the full board.

Ending: The Executive Committee forwarded the item to the full County Board with the direction that staff provide a total-cost analysis (salaries plus employer-paid benefits and estimates for implementation) to inform the full-board vote.","The Will County Executive Committee voted to forward a proposal to raise salaries for countywide elected officials and county board members to the full County Board, after extended debate over splitting votes, funding sources and the “all-in” cost including benefits.","actionData","errors"]

Article not found

County staff begin work on potential refunding and bond tender to capture multi-million-dollar savings

Union-backed proposal urges caution on restructuring RTA governance; Will County representatives press for local voice

Committee sends juvenile detention options to finance after presentation on River Valley and alternatives

Executive Committee sends proposed raises for countywide officials and board members to full board after wide debate