Elk Grove Village Mayor Craig Johnson unveiled the outline of the largest capital works plan in the village’s history Tuesday evening.
The plan, called Elk Grove 2025, is estimated to cost $105 million and could start within weeks, Johnson said. It focuses on many fronts, from a new fire station and new public works building to median enhancements and road improvement projects.
Johnson presented an overview of his plan to village trustees — each item would need village approval, but said with low interest rates and a new president in the White House who is in favor of infrastructure improvements, the village must act soon.
“The time is now. We have to make sure we stay on the cutting edge,” Johnson said. “Investments we make not only help our businesses, they help our residents in the form of increased property value.”
While much of the plan would be funded with grants and existing revenues, he said he anticipates issuing about $30 million in bonds, with the average homeowner facing a tax increase of a little less than $100 a year.
The largest aspect of the 8-year plan is the construction of a new fire station and a new public works building. A new 10,000-square-foot fire station would replace and combine two current stations located on Greenleaf Avenue and Oakton Street respectively. It would be located somewhere near the Busse Road corridor, Johnson said. The new public works building would replace the James Petri Public Works Facility at 600 Landmeier Road.
In addition, several major roads would be reconstructed or rehabbed, including parts of JFK Jr. Boulevard, Elk Grove Boulevard, Nerge Road, Home Avenue, Tonne Road and Lively Boulevard.
Several left turn lanes would be added to Arlington Heights Road where none currently exist.
Other improvements include median and parkway enhancements on Rowling, Nerge, Meacham, Devon, Arlington Heights Road and Biesterfield. Bicycle and pedestrian crossings into Busse Woods would be added. And there would be street lighting improvements and a drainage improvement program that would focus on rear yards and sidewalks with drainage problems.
Money to pay for the plan would come from three sources, Johnson said. The capital projects fund would cover $56 million, the business leaders Fund would cover $22.5 million and projected tax-increment financing projects would cover $27.5 million.
Johnson said that the village is ready to apply for tens of millions of dollars in grants to cover some of the costs.
“Our new President Trump has been talking about infrastructure a lot and we will be shovel ready. We will be at the front of the line when grant money starts coming,” Johnson said. “We are the grant kings. We don’t have any obstacles and this is very cost effective to the taxpayers. It would set up the village for the next 60 years.”
And Johnson said he anticipates issuing $30 million in bonds to help with the funding, with the cost to the average taxpayer an additional $96.20 per year. The resident with a $300,000 home would pay an additional $36 in village property taxes, $53 in a natural gas tax and $7.20 a year in a telecommunication tax.
The village’s credit rating was downgraded from AAA to AA+ by Moody’s several years ago — something Johnson blamed on the state of Illinois’ budget problems.
“I am very optimistic that we will return to AAA status,” Johnson said. “Every one of these plans will be done.”
He said that the village may have to hire a construction oversight engineer, adding “this is the biggest undertaking that we’ve ever done.”
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