Tennis lessons are given at the club.

Richard E. Johns

The first revenue bond financed indoor Tennis Club in Illinois THE TEMPESTS, TRIALS AND TRIBULATIONS OF TENNIS By Richard E. Johns

A new tennis step was learned by the Glenview Park District in building an indoor tennis facility. This intriguing new step is a two forward step shuffle and a quick backward jump. The tenaciousness of the Board was truly tested through the tempest, trials and tribulations of a tipsy tennis teapot to the ultimate triumph for a tennis town.

Planning of this facility began in the fall of 1968 with a staff developed feasibility study. Private funds were available for loan to the District to construct the facility on park property;

however, the legality of lease back or installment contract arrangements was very questionable. The Board was committed to the philosophy that with the many needs for tax funds that a specialized facility for indoor tennis should not be financed by taxes. Revenue bond financing was needed.

Through the support of the Illinois Association of Park Districts, legislation was introduced in the 1969 session of the General Assembly. The bill was approved and signed by the Governor on September 15, 1969, providing authorization to issue revenue bonds to construct tennis facilities. Later we wondered if the law passed wasn't really Murphys Law which provides that if anything can go wrong— it will!

By October the Board retained the services of consultants. The architectural firm of Friedman, Alschuler and Sincere was retained and Howard Voss and Associates was directed to develop all financial aspects including verification of the staff developed feasibility study.

Financing: The project required a total of $300,000 in capital funds with $255,000 for actual construction costs and the balance for furnishings, equipment, professional fees, landscaping and contingencies. Since the project was a "first," it was not expected that bond buyers would be knocking each other down to be first in line to purchase bonds. In order to add a sense of confidence and reduce total interest costs, the District self-financed $80,000 from golf course non-tax revenue as a loan to the project.

A firm commitment was made by a local bank to underwrite the $220,000 revenue issue providing the District would attempt to sell a portion to individuals in the community. Later, half of the issue was sold directly to individuals and the bank pur-

The Architect's rendering of exterior of the club.

Richard E. Johns is General Superintendent of the Glenview Park District.

Illinois Parks and Recreation 8 March/April, 1971

A good view of the four courts.

An exercise/sun room is available to members.

chased the remainder. Bonds were in $1,000 denominations and carried a 7% interest.

Within a month's time the Board had complete cost estimates, preliminary plans, financial feasibility reports, bond consul's tentative approval, and a contract for selling the bonds. Two months from the date of the Governor's signing the law, the

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TENNIS ...

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proval until June 1. With club opening scheduled for October 1 the prospect of the building being completed in four months seemed none too bright.

The building contains four indoor courts and a clubhouse complete with pro shop, nursery, exercise room, showers, locker rooms, office and service space and lounge. With some long missing luck and dedicated efforts by many, the building miraculously finished on schedule just four months after ground breaking and one year after the project was initiated.

In Operation: Although original projections were 450 members, by opening date on October 4th a total of 960 people had purchased memberships to the Glenview Tennis Club. Court rental fees had been established at $10.00 and $6.00 per hour, depending upon time of day. Courts operate from 7:00 a.m. to 11:00 p.m. and may be reserved by members for the 7 month indoor season. Court fees are payable 15 weeks in advance and 94% of time has been reserved for the season.

Our financial projections were proved to be very conservative. Original income projections for the prime 7 month indoor season were $90,000. These projections will actually be greatly exceeded with income of over $150,000. After payment of all operating costs, annual debt retirement, depreciation and reserves, a first year surplus of over $40,000 will be developed for earlier debt retirement.

The Club is being operated with many aspects of a private club such as member charge accounts, reservation privileges and guest privileges.

The seemingly instant success of the operation of the Club is a result of learning to move two steps forward after every step back with perseverance and just a wee bit of luck. Another community recreation facility is developed to serve the new ideas of leisure activities.

Illinois Parks and Recreation 13 March/April, 1971