“We are pleased that the community conversation has begun about the future of Indian Lakes,” said Stephen Schwartz, Manager of First ILR, LLC the owner of the property since 2000. “Our plan to reinvest, repurpose and reconnect the property to the community will retain open space, spur investments in stormwater infrastructure and generate millions of new annual tax revenue for local classrooms.”

By The Numbers

The transformation from a failed resort, to a resort-at-home neighborhood will deliver substantial economic benefits to all Bloomingdale taxpayers:

NEW MARKET VALUE

More than $225 million in new market value in the community.

$225 Million

NEW REVENUE

At least $5.5 million in new annual net tax revenue for local governments.

$5.5 Million

INCREASED LOCAL CLASSROOM FUNDING

Schools will benefit from $4.4 million in new funding, with no new students.

$4.4 Million

MILLIONS FOR LOCAL BUSINESSES

Local businesses will benefit from an estimated $3.8 million in new spending by neighborhood residents

$3.8 Million

STORM WATER AND OPEN SPACE IMPROVEMENTS

$2 million will be spent to improve storm water management and create recreational open space buffers along the perimeter of the 190-acres.

$2 Million

SAVING EXISTING TAX REVENUE

The refocused hotel will continue to generate approximately $400,000 in annual tax revenue for the Village.

$400,000