Consultants say Orland Park’s debt could explode to $251 million

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After Orland Park Mayor James Dodge took office in May, he became curious about the village’s debt and where it was going.

On July 21, he and the village board received some clarity at the Committee of the Whole meeting.

And it was powerful clarity.

According to research provided by PMA Securities LLC, the village’s financial consultant since 2020, the village debt is $90.6 million with a projection of $251 million by the end of fiscal year 2027.

Major projects, bonds and tax increment financing contributed to the jaw-dropping projections.

“It was a long conversation for everybody in the room,  but we had to get some facts on the table,” Dodge said. “This board can now collectively make decisions on what we want in Orland Park’s future and how we pay for it.

“Quite frankly, it was a healthy conversation and I appreciate the staff and our consultants for pulling together to make it very, very clear on where we were and where it’s going.”

Trustee Cindy Katsenes, who has been on the board since 2019, wondered aloud about some of the figures that the consultants came up with.

 “A lot of these are assumptions and we only approved one TIF for $33 million,” she said. “Correct me if I’m wrong, but it was going to be paid back in multiple years.

“And my question to you is where did you get all of these numbers? There are a lot of assumptions being made that this board has not voted on. There were assumptions based on ideas, but they were ideas with no commitment. We didn’t start the process.”

Resident Michael Henry was outraged and chastised the board during the citizen’s comment portion of the meeting.

“I’m disgusted and confused with all of these numbers we got,” he said. “I would like to know how the previous board passed all these tax increases that paid for all this stuff and everyone is denying any knowledge of it.

“Every taxpayer has been told that the debt is $60 million…we all deserve some answers on this.”