Board debates Star Bond program and denies sending initial notice of interest to state

LaSalle County discussed the Star Bond program April 9 as a potential economic-development tool. Staff reviewed program basics described in a state memo: district thresholds and project expectations were discussed (contributors to the discussion cited thresholds such as $30 million projected capital investment and $60 million annual gross sales), and staff noted that the first step to pursue a Star Bond district is to notify the state to show initial interest.

Board members debated whether the county should pursue a countywide project or support one of the municipalities, whether the program effectively shifts tax revenue to pay bonds, and how much legal or consultant expense the county might incur. Concerns focused on risk to taxpayers (increased sales taxes in a defined district to pay bond debt), regional competition between municipalities for a single available district in the ten-county region, and whether consultant or developer costs would be borne by the county or the developer.

Members proposed motions to table, to invite the Department of Commerce & Economic Opportunity (DCEO) or other experts to brief the board, and to send a short email to the state signaling interest to meet an initial deadline. A motion to table until the next full board meeting failed (12 ayes, 14 nays) and a later motion to send the initial notice email to the state was denied on roll call by 7 ayes and 19 nays. Board members emphasized that sending the initial notice would not obligate the county, but many members said they were not ready to proceed without more information and regional coordination.