A five-year capital plan will give way to $9.6 million in spending on various projects throughout the village of Algonquin this year.
Earlier this year, Village Manager Bill Ganek gave a presentation to the Village Board, showing in detail the capital projects that are moving forward this year. Three are major road reconstruction projects in Indian Grove subdivision, Spring Creek Farms subdivision and along Edgewood Drive.
Capital and infrastructure maintenance funds are dollars dedicated for major infrastructure improvements and are separate from the general operating fund. It is a means to finance large-scale projects that may take multiple years to complete.
The funding source comes from the home-rule sales tax, motor fuel tax and interest earned on dollars contributed by developers during the housing boom, such as the water tap-on fee, Ganek said.
While some municipalities may borrow money for capital projects, rather than issuing bonds, Algonquin does not.
“It’s a pay-as-you-go system,” Ganek said.
While multiyear planning allows the time to accumulate revenues for costly capital projects, it also is a way to coordinate projects within different departments.
For example, Ganek said a water main must be replaced along Oceola Drive. The village has planned to replace the water main, at a cost of $400,000, while road reconstruction is taking place in the Indian Grove subdivision.
“It’s our way of budgeting for what we want to do now and in the future,” Ganek said.
Upcoming Construction Projects in Algonquin
There are three major construction projects expected to start this spring:
- Edgewood Drive: $1.6 million in Improvements
The Edgewood Drive project will consist of a full reconstruction of Edgewood Drive from Illinois Route 31 (Main Street) to Hanson Road.
Specific work includes the roadway reconstruction, curb and gutter installation, storm sewer installation, grade adjustments, and replacement of the bridge and culvert at Ratt Creek.
. Detours and delays should be expected for commuters in the area.
Work is expected to begin this spring with completion in 2013, weather permitting.
- Indian Grove Subdivision: $1.95 million in Improvements
This project will consist of a full reconstruction of roadways within Indian Grove subdivision.
Specific streets include Hubbard, Osceola, Cherokee, and Navajo. The streets will undergo roadway reconstruction, curb and gutter installation, storm sewer installation, water main replacement and sanitary sewer upgrades.
Construction is expected to begin in May 2012 and will be completed later this year.
- Spring Creek Farms Subdivision: $1.6 million in Improvements
This resurfacing project within Spring Creek Farms subdivision will include the following streets: Tanglewood, Timberwood, Old Mill, Red Coach, Powder Horn, Claymont and Fox Run.
Roads will be resurfaced and damaged curbs will be repaired. Construction is expected to begin this summer and should be completed in September 2012.