Crete Township Board has called for a Special Town Meeting for Tuesday, May 14, at 7 p.m., at the Sertoma Star building, 25930 S. Cottage Grove Avenue in Crete.
The purpose of the meeting is for the electors (registered voters of Crete Township) to consider acquiring the Sertoma Star (formerly New Star) property, consisting of a 30,000-square-foot building on approximately 13 acres, as the location of the new Crete Township Community Center.
This is the same building posed to the electors in June 2023. However, it is being presented for consideration again due to the improved economics of the proposal, including:
- ARPA Grant: In late Summer 2023, the township applied for and was awarded a Federal ARPA Grant of $822,000 for a community center. The award is contingent upon Crete Township providing, by June 30, 2024, (a) a formal plan, (b) proof of financial feasibility, and (c) a positive vote by a majority of the township electors. If the electors choose not to proceed, the county may reallocate funds to another area of the county.
- Reduction in Price: There is reduction in the asking price of $100,000 or 7.14 percent.
- Capital Improvement Fund Increase: The Township’s Capital Improvement Fund has grown to approximately $976,000, as a result of budget funding and investments in U.S. Treasury bills.
As a result of these improved financial conditions, the township now could afford to purchase the Sertoma Star property without incurring any debt and still have funds left over to begin making the building more conducive as a community center.
If the property is acquired, the initial focus would be to convert the large workshop room into a multi-purpose space for indoor sports, concerts/theater, and special events, as well as working on the multiple meeting rooms for use by the various community and non-profit organizations in Crete Township.
The Sertoma Star building originally cost more than $5 million to build about 15 years ago. As the going rate for new construction today is approximately $375/square foot, it would cost more than $11 million to build it today. The useable portion of the property’s 13 acres offers opportunities for walking/bike paths, community gardens, fishing pond, and outdoor sports activities.
With the ARPA grant and reduction in asking price, the township now could purchase the 30,000-square-foot building and approximately 13 acres for a net cost to the people of Crete Township of about $478,000. This net cost represents less than 10 percent of what it actually cost to build the property 15 years ago and less than 5 percent of what it would cost to build something similar today. This is a rare opportunity for the township.
Even if in the next one-to-two years, if it were determined the building did not work out, the township could sell the property at a profit and still maintain the benefits of the ARPA grant for future projects.
The authority for proceeding with the purchase of the property rests with the electors of Crete Township and will be decided during this meeting. Please plan to attend this important meeting affecting the future of Crete Township.
Doors open at 6 p.m., and electors are encouraged to arrive early. The meeting will begin promptly at 7 p.m.