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Newly formed Save Open Space Committee Conducts Press Conference at the Hobson West Ponds

In a nutshell we (the SOS - Save Open Space group) have learned a lot while trying to get the property between the ponds kept as open space. We heard from a number of people about their concerns for open space, not wanting to see all of the odd lots here & there being paved over, turned into strip malls, or turned into high rises, or townhouse sites.

    We also learned that there is a tremendous need for land to satisfy the passive and active recreational space.   The whole question of purchasing the Ponds property revealed that Naperville Park District ( NPD) just does not have big chunks of cash to be purchasing property.

    The NPD does an excellent job of running Park District programs and has earned a AAA bond rating.   This is very important in today's financial world as we all have come to be aware.   The Naperville Park District is one of only three in the state with such a rating. This means that bond insurance is not needed and the interest rate NPD will pay is now below 4%.

    (SOS) is willing to spearhead getting a Land Acquisition Referendum on the Nov 2008 ballot, and then work to get it approved.  At this time there is no estimate of the $'s, that will be worked out with the NPD, assuming they agree with this activity.  We believe that such a referendum can be approved by the Naperville voters. The proceeds of this referendum could be used to replenish the funds that are expended to purchase the property between the ponds.

    We also hope that at the NPD's Jan 30th meeting they would take action to submit a revised offer to Crestview for the amount of NPD's appraisal - $3.27 Million. We also hope that Crestview would take into consideration NPD's willingness to increase their offer and reduce Crestview's asking price a like amount.