Silver Lake president says village economy stagnant

Silver Lake Village President Roger Johnson hosted an address on the economic state of the village tonight at Riverview School.

In short, the financial health of the village is danger because the local economy is stagnant. Economic development has come to a halt for now, which does not help expand the property tax base.

In Johnson’s own words:

Johnson added that the village may need to reopen talks with developer Steve Mills about building housing across Cogswell Drive from the lake at Lakeview Drive. Mills once proposed a condominium development for the site, but was rejected due to neighborhood opposition. 

Mills is now open to considering other types of development at the site, Johnson said. Here’s a Google Streetview of the property:

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Yet another possibility for increasing the village’s tax revenue might be annexations. There has been some “small talk” about some properties to the north and the south annexing into the village, Johnson said.

Johnson also said he was disappointed with the low turnout for the meeting, but added that he might have a similar meeting in the fall. He also said village department heads will be starting their annual budget work earlier this year in hopes of finding solutions to anticipated shortfalls.


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