Board approves SSA administrative reports, abates special taxes and recommends several SSA levy reductions

The board approved resolutions adopting 2025 administrative reports for Special Service Areas (SSAs) and passed ordinances abating taxes for the SSAs and certain bond series where the village has sufficient funds on hand to cover debt service.

Finance Director Lori Lyons presented the SSA packet and proposed levy adjustments driven by individual SSA fund balances and forecasted maintenance needs. Staff recommended a 44% reduction for SSA #2 (estimating homeowner impact down to about $9.91 for a $300,000 illustrative home in FY26, and $5.50 the following year on the calculation shown), a $50 cut for a small SSA (Panama) from $300 to $250, and a 50% cut for SSA #6 to a levy of $3,000. Lyons said SSA #7 (Hampshire Hills) includes a very large pond and that substantial clearing/burning work will be needed in later years; she shifted a $5,750 expense into FY27 to reflect permitting timing and said staff will evaluate larger future costs as quotes are developed.

Trustees pressed staff about the rationale for maintaining larger ending fund balances in some SSAs and asked for a recommended standard for a healthy SSA fund balance (for example, a one-year reserve). Staff agreed to return in two weeks with additional information. Several SSA resolutions and abatement ordinances were moved, seconded and approved by roll call.

Why it matters: SSAs fund localized stormwater and maintenance work; lowering levies returns money to property owners, while retained fund balances cover multi-year maintenance such as burns or machine clearing at detention/pond facilities. The board asked staff to present a proposed definition of a healthy SSA fund-balance policy at a future meeting.