The editorial staff of the Geneva Shore Report is opposed to virtually any housing, industrial, or commercial exploitation of the Hillmoor property; however, if the city council does not see or value the wisdom of preserving Hillmoor for the future of the city, then they should at least be prudent and take the following steps to help assure a successful development and to protect the city residents and property owners from paying for another failed development:
- Before making a zoning change for a developer, the Lake Geneva City Council needs to have the potential developer verify that he has the financial backing that will be required. This can be done by requiring a letter of credit from a bank to verify that the individual has the financial backing necessary to do the job and follow through.
- Before a developer ever puts a shovel in the ground or the city invests a dime in the development’s infrastructure, the city should require the developer to have a “Performance Bond” to insure any city cost (infrastructure, etc.) is covered in case the developer goes bankrupt or fails to complete the project. This prevents the residents of Lake Geneva from paying for the infrastructure costs for a failed development, as was done with the development at the top of the Edgewood subdivision at the end of La Salle Street.