Naperville Mayoral Candidate Krause Explains Opposition to Water Street Development

March 25, 2015 – In a recent communication to supporters, Naperville Mayoral candidate Doug Krause describes his opposition to the recently approved Water Street Project.

“I have found in my numerous conversations with Naperville residents that many are unaware of the project, or do not fully understand the expanse of the development,” notes Krause. “Once they learn the full scope of the project, many are surprised and dismayed.”

Caption: picture with arrows - View of Water Street Development looking east down Water Street from City Hall. Photo from Positively Naperville with arrow pointers added by Citizens to Elect Krause.

Caption: picture by Riverwalk - View of Water Street Development riverfront extension looking south (City Hall is to the right, development is abutting Main Street (will be across from Walgreens).

The Water Street Development will be erected on the 2.4 acres just east of City Hall. It will be five stories high (Barnes&Noble is three), contain a 155-room hotel, shops, offices, a 8,700 sq.ft. banquet hall, and parking deck.

1. Traffic concerns in an already congested area (Developer is not widening the streets, but narrowing Water Street)
2. Adds 520 parking spaces, but only about 19 parking spaces will be available to taxpayers after tenants have their spaces allocated.
3. Cannibalization of existing Naperville hotels, including the Marriott (previously the Holiday Inn, for which the City provided tax incentives). Currently the occupancy for hotels is averaging 60%, not counting the soon-to-open Embassy Suites.
4. Has already cost taxpayers $100,000 in interest, as “shovel-ready” plans were not ready to execute and other Council members voted to approve.
5. Because it is TIF, it will cost all taxing bodies approx. $84 million in lost revenue that taxpayers will need to make up (through 2038)

Krause points out his opponent, Steve Chirico has voted consistently in favor of the Water Street Project. (access all voting records here)

Contributions to Chirico’s campaign include $2,500 from two individuals employed by the developer, Marquette Companies. The CEO contributed $2,000 and the director of project management contributed $500. (view these contributions here)

“It is too late for City Council to stop this project,” explains Krause. “However, Napervillians need to consider who they place on the dais to vote on upcoming projects of this type that could be proposed in the next few years.”

Krause continues to point out that the Water Street project has already cost taxpayers $100,000 in interest with no concern voiced by Steve Chirico. However, Chirico did take issue with a total of $75,000 in staff time costs to fulfill citizens’ requests under the Freedom of Information Act (FOIA).

According to a news report, Chirico accused citizens of “abusing” and “gaming the system” by requesting this information. Krause points out these citizens were merely exercising their right to see how their tax money was being spent and keep government accountable. (read article)

Krause continues, “I believe if the city had been more transparent and answered more questions, the citizens would not have needed to file numerous FOIAs.”

> Read article on the final Water Street vote
> Read full FOIA article and Doug Krause’s response
> View campaign contributions from Marquette Property employees

> View all campaign contributions