McHenry County Blog

Last September 27th, McHenry County College President Walt Packard signed a $70,000 contract with Mark Houser, President of Libertyville’s EquityOne Development Corporation to do a “feasibility study for the development of baseball stadium/indoor sports center complex on the McHenry County College campus.”

The study was supposed to be completed within eight weeks.

It was to include

1. Concept Planning, including “confer(ing) and confirm(ing) with Crystal Lake that the improvements will be approved.”
2. Revised Site Plan to show additional parking.
3. Revised Project Cost Estimate to include the cost of the additional land and improvements.
4. Revised Revenue Projections to include the additional revenue from leasing a portion of the land to another user group.
5. Revised Operating Budget to include the College’s cost to own and maintain the additional land.
6. Revised Cash Flow Analysis to reflect the additional income and expenses resulting from the additional land.
7. Revised Time Table to reflect any changes that may occur due to the acquisition of the additional land.
8. Summary: Analyze the preceding information to provide an opinion on project viability if additional land is included.

Including in the contract is this curious paragraph:

At the completion of the feasibility study and independent review, if the College elects to proceed with the project, the College will contract with EquityOne or it’s (sic) assigns to develop the project on the College’s behalf.

That pretty much eliminates competition, doesn’t it?

Here is a link to an EquityOne Sports Development project in Southwestern Chicago and one in Libertyville.

Here is information about a 2006 proposal in North Carolina’s Mechlenburg County.

None seem to have a minor league baseball stadium.

Labels: Equity One Development Corporation, EquityOne, Mark Houser, McHenry County College, Walt Packard