Ildiko Schultz: Lake Zurich Village Board Candidate

Please provide a brief biography. 

My name is Ildiko Schultz and I have lived Lake Zurich for the last 20+ years. My husband and I have one son who graduated from Lake Zurich High school and also resides in the village. I am an insurance industry professional with more than 30 years of finance, accounting and insurance operations expertise and have led both large, diverse teams as well as more focused, technical teams. I have an undergraduate degree in Liberal Arts and a Masters in Business Administration (MBA). I am an active member of numerous insurance industry committees and have several industry professional designations.. I am heavily involved in adult learning and human resource effectiveness and I am a company certified Diversity Master Trainer and coach.

Include how long you have lived in LZ

Since 1992.

Why do you want to serve (or continue to serve) the village as a trustee?

Lake Zurich is a great community and I believe we deserve strong ethical leadership if we are to move the village forward. The role of trustee is one of service to the community; that means putting the community’s needs first. That also means putting our own interests aside to make sure we do the right things for the village. I do not have any hidden agendas or personal issues nor am I beholden to any special interests within the village. I believe it is residents like me that need to get involved so that we can make the right decisions for the overall good of the village. Change starts with each of us, both on an individual basis as well as collectively, and I see this as my chance to truly make a difference. We need a strong group of dedicated professionals, committed to working with each other for the good of the community. To move the village forward, we need to change the composition of the Board and elect people who understand the economics of the issues we face. We can effectively address these key issues through a more qualified, professional team that is committed to making the best decisions for the good of the village.  I want to help make that happen.

What are your top priorities for the Village of Lake Zurich?

One of our top priorities is the TIF and the payment that will be due at the end of this year. Revenue is not adequate to cover this payment so we need to move quickly to address this issue, through refinancing or other innovative solutions. Some of the current trustees have indicated that going into default is a possibility; however this is an unacceptable outcome. If the village were to default, it would affect our ratings, our ability to borrow in the future and our credibility as a viable governing entity. We need to move ahead and get viable development into the village; a change at the board level will help make this happen.

While the TIF is the immediate issue, viable development throughout Lake Zurich is critical and needs focus. We are optimally located and need to jumpstart development in a fiscally responsible way. That means listening to proposals, and acting decisively. We need to make it easier to do business with the village and we need to be consistent in our message. We are our own worst enemy when we say one thing and then do another. And we cannot recycle the same rejected ideas to make it look like we are accomplishing something.

If we tackle these issues effectively, we will increase the value of the village, generate increased revenues and this will make us more fiscally sound.  The village needs growth and sound development which does not unduly burden our infrastructure or our tax base. This can only be accomplished with collaborative leadership that puts the village’s interests first.

What needs to be done to create a solid financial base for the village? 

We need to use business principles in our decision making process which requires knowledgeable, experienced business professionals. Our sources of income need to adequately cover our expenditures with enough in reserve to cover emergencies should they occur. We need to make Lake Zurich an attractive business environment, which will increase both our direct revenues and indirect revenues. We have to be open to multiple solutions for downtown and other development in the village and we have to make sure that any proposals are carefully vetted to ensure that they are financially sound. There are some that believe we should approve any idea just to get things going, however that is a shortsighted, dangerous approach that could burden taxpayers. We should be forward thinking and decisive without being reckless. It is critical that we change the composition of the board and bring in people who understand the financial and business aspects and who can work together for the betterment of the village. Once businesses recognize that we mean what we say and are willing to make decisions and stick by them, they will be more willing to invest in Lake Zurich. We have great business potential but businesses are leery of coming to our town. We make it hard to do business and we are not consistent in our decisions at the board level. This has to change and I firmly believe that United Lake Zurich can make that happen.

What is your vision for downtown development?

We need to look at multiple options and insist on viable developers that have the professional skills and financial backing to make their plans a reality within reasonable timeframes.  A well balanced mix of commercial, retail and residential should be our goal. We need to partner with developers that have both the vision and the financial resources to get projects moving and completed.  We cannot continue to make the mistakes that were made in the past and it should not take two years to pull together appropriate financing if a developer is a legitimate candidate for our business. We should look to a multi-phase approach, with a streamlined process from start to finish. And we cannot ignore other parts of Lake Zurich – the business corridor along Rand Road is ripe for development, and the industrial area has many opportunities as well.  By continuing to bring opportunities into those areas we increase the attractiveness of the whole village, including downtown.

How much time do you have available to devote to this role? 

I am willing to put in the time and effort that is required to do the job effectively. I do not believe in doing anything by half measures.

What traits do you have that make you a good leader for the village?

I have been a successful leader in both my professional and personal life and I know how to produce results.  I bring a strong knowledge of business and financial practices and I know how to factor financial implications into my decisions. I bring a big picture perspective to the role of trustee, which will ensure that the decisions we make support our long term vision and are sustainable over time.  I can recognize and deal with difficult situations promptly and appropriately. I relate to others in a positive, respectful way. I know how to manage difficult situations to ensure positive outcomes are achieved and I function effectively in a collaborative environment. And I know how to listen, which is one of the key characteristics of a leader. We came together as a slate under Mayor Branding’s leadership because we have a vision for Lake Zurich’s future and we will work together to find the best solutions for the village.