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Home My WebLink AboutCAPITAL IMPROVEMENTS - 03/12/2010 - CAPITAL IMPROVEMENTS/BUILDING PROJECTS 5 Revised Minutes Capital Improvements Committee March 12, 2010 Chernick Conference Room 10:00 a.m. Present: Trustee Petri, Chair Trustee Czarnik. Member Trustee Feichter, Member Also Present: Village Manager Director of Engineering & Community Development Director of Finance Director of Public Works Capital Improvement Proiects The Committee reviewed information from the Director of Finance related to funding the build- ready projects list from the last Capital Improvements Committee (CIC) meeting. The build- ready projects require over $13 million in funding. The Finance Director reported that there are two ways to finance the recommended projects: 100% Bonds(such as Build America Bonds or GO Bonds) can fund the projects solely on the property tax; or the projects can be funded by splitting the costs on the property tax and water/sewer bill (for the water/sewer projects). The cost to solely fund all items on the tax bill of an average homeowner is $25.98 per year or around $2.00 per month. The cost to split the items would be $14.01 on the tax bill and another$7 flat fee on the bi-monthly water bill plus increases on the water bill to fund anticipated JAWA/Chicago rate increases. The Committee reviewed the list of projects. Chairman Petri and Member Czamik decided to tour the recommended repair areas with the Director of Public Works. The Consensus of the Committee was that all of the repairs are necessary to maintain Elk Grove's competitive edge for economic development purposes and to maintain property values in the community. In addition, by undertaking the repairs now, the taxpayers will benefit from extremely low construction costs due to the recession and the lowest borrowing rates in history. In addition, the consensus of the Committee is to recommend funding the projects from Build America Bonds or GO Bonds with payments received exclusively on the property tax bill. This approach is recommended, since Chicago is anticipated to increase water rates significantly in the coming years and Elk Grove needs to maintain competitive water/sewer rates for economic development purposes. A list of the build-ready projects is attached to this report. It is anticipated that the Village Board will discuss these items at its April 13, 2010 meeting. c: Mayor& Board of Trustees, Village Manager, Deputy Village Manager, Assistant Village Manager, Director of Engineering & Community Development, Director of Finance, Director of Public Works, Village Clerk VILLAGE OF ELK GROVE VILLAGE ENGINEERING AND COMMUNITY DEVELOPMENT and PUBLIC WORKS BUILD AMERICA BOND IMPROVEMENTS WATER SYSTEM IMPROVEMENTS J.F. Kennedy Boulevard Water Main Arlington Heights Rd to $ 420,000 Replacement Brantwood Ave Water Main Replacement Delphia Lane Area $ 850,000 Scott Street Water Main Replacement Higgins Rd to Lee St $ 600,000 Beisner Road and Gloucester Drive Water - $ 1,000,000 Main Improvements SUBTOTAL $ 2,870,000 WASTEWATER SYSTEM IMPROVEMENTS Sanitary Sewer Cleaning and Lining- Large $ 1,200,000 Diameter Sewers Basin 6 and 17 Sanitary Sewer Lining - Basin 7, 9 and 10 $ 750,000 SUBTOTAL $ 1,950,000 STORM SEWER SYSTEM Culvert Rehabilitation - Highway and Various $ 850,000 Railroad Crossings Culvert Replacement- University Lane Fox Run Golf Course $ 185,000 Culvert Rehabilitation - Gibson Drive Revere Ln $ 65,000 SUBTOTAL $ 1,100,000 ROADWAY IMPROVEMENTS Northwest Boulevard Reconstruction Arlington Heights Rd to $ 2,175,000 Arlington Heights Rd Beisner Road Widening Biesterfield Rd to $ 475,000 Gloucester Dr Tonne Road Resurfacing Walnut Ln to Landmeier Rd $ 575,000 Greenleaf Avenue Busse Rd to Elmhurst Rd $ 525,000 Brummel Street Lively Blvd to Busse Rd and Commerce Drive Resurfacing Busse Rd to Higgins Rd Nicholas Boulevard Rehabilitation Pratt Blvd to Landmeier Rd $ 450,000 Wellington Avenue Reconstruction Somerset Ln to Biesterfield $ 1,050,000 Rd Chelmsford Ln Reconstruction Wellington Ave to Cosman $ 825,000 Rd Salt Dome Construction Oakton Fire Station $ 400,000 SUBTOTAL $ 6,475,000 VILLAGE OF ELK GROVE VILLAGE ENGINEERING AND COMMUNITY DEVELOPMENT and PUBLIC WORKS BUILD AMERICA BOND IMPROVEMENTS Building Improvements Replace Computer Room HVAC $ 90,000 Various Repairs to Fire Stations - Roofs, $ 310,000 painting, Tuckpointing, Overhead Doors, etc SUBTOTAL $ 400,000