HomeMy WebLinkAboutCAPITAL IMPROVEMENTS- 05/11/2021 - Capital Program Funding ProposalCOMMITTEE OF THE WHOLE
MINUTES
May 11, 2021
6:09 p.m.
Present: C. Johnson, Mayor
N. Czarnik, Village Trustee
P. Feichter, Village Trustee
S. Lissner, Village Trustee
S. Schmidt, Village Trustee
C. Prochno, Village Trustee
J. Franke, Village Trustee
Absent: None
Staff. R. Rummel, Village Manager
M. Roan, Deputy Village Manager
M. Jablonski, Assistant Village Manager
G. Knickerbocker, Village Attorney
C. Basham, Director of Public Works
N. Gac, Deputy Fire Chief
C. Tromp, Director of Finance
Guests: None
Capital Program Funding Proposal
Presentations on capital programs for the Village's roads, drainage and sidewalks were made at
the April 13 and April 27 Committee of the Whole Meetings. Mayor Johnson presented a proposed
funding plan to provide $4.75 million in new annual revenue required to implement these capital
programs.
The funding proposal included a $2M increase to the Village's property tax levy; a Water/Sewer
User Fee of $5 per month for the average residential property (based on meter size) to generate
$ 1 M annually; and a Natural Gas Use Tax increase of $.03/therm to generate $1.5M annually.
Additionally, Mayor Johnson proposed setting aside revenue not earmarked from the Electric
Utility Tax for pensions or bond issues to be put toward the Village's infrastructure needs.
Revenue from the Electric Utility Tax would first be used to pay principle and interest on the
Village's existing bond issue, then Village would obligate $1.6M annually to Police and Fire
Pensions ($800,000 to each annually). All remaining increment (estimated at $250,000 annually),
as well as any future growth, would then be earmarked for capital improvements.
In total, this plan provides for $4.75M in additional annual revenue to the Village to support these
capital programs, which would cost the average Elk Grove Village homeowner $158 annually.
The Committee discussed that in addition to addressing necessary maintenance of critical
infrastructure, these programs will help support property values in the Village. The consensus of
the Committee was to move forward with this funding proposal.
The meeting was adjourned at 6:30 p.m.
C: Mayor & Board of Trustees, Village Clerk, Village Manager, Deputy Village Manager,
Assistant Village Manager, Director of Public Works, Director of Community Development,
Police Chief, Fire Chief, Finance Director, Village Attorney