Forest Park Cultural Park Frequently Asked Questions

Frequently Asked Questions from the survey, comment form, Facebook, and personal interactions.

1. Is this real?
1. The project is in an early exploratory phase (Phase 1). Forest Park owns the land.
2. In phase 1 of this effort, the committee will be working with Forest Park officials to develop a vision for developing the land as a community cultural asset and recommending a path forward.
2. What will the park have? How much will it cost? Who is paying for it? How will it be managed?
1. The next Phase, Phase 2 of the project will look in detail at the above questions. Ultimately, the Village of Forest Park will need to decide on a set of linked decisions that provide the best mix of costs, benefits, and mitigation of potential risk for the city. Cost can be from $1 million to $10 million+ depending on the decisions made in Phase 2.
2. Some of the important decisions in Phase 2 will include:
1. What is the configuration of the park? Concert venue, art park, running trails, multi-season, etc. How much room to leave for future enhancements? Take the survey!
2. How will initial construction be paid for? Private funding, bond issue, grants?
3. Will the city retain ownership of the land?
4. Who will run operations? City or private group?
5. Revenue sources? Concert tickets, concessions, naming right
6. How much will the ongoing costs be?
3. For reference, River Edge Park in Aurora cost about $14 Million, Downers Grove Veterans Memorial Pavilion was about 1.3 million
3. What are the benefits and costs to Forest Park?
1. Plusses
1. Nearby cultural events
2. Added green / recreational space
3. Area to hold special events
4. Drives traffic to and from Madison St. and other surrounding business districts.
5. Enhanced tax revenue from concessions, parking, royalties, and increased business
2. Possible negatives
1. Increased motor vehicle traffic
2. Increased safety and security issues
4. What will happen in future phases?
1. Phase 3 will be the main go forward decision. Once the decisions about configuration, operating model and funding sources are made, details and appropriate due diligence will be finalized.
1. Phase 3 will include preparation of detailed construction and operating plans and a full risk-reward analysis.
1. Phase 3 will answer things like questions about traffic management, security operations, specific issues about control and governance of the facilities.
2. Once all the loose ends are tied, the city will make decisions for the final investment
2. Phase 4 is construction and preparation for operations and maintenance.