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Staff outlines proposed 2026 Capital Improvement Plan; targets $20 million annual GEO bond sales
Summary
City staff presented a proposed 2026 Capital Improvement Plan that prioritizes lead service line replacement, legacy parks and facility needs and sets a target of $20 million in annual general obligation bond sales while recommending prioritization criteria and a 10-year project view.
City engineering and finance staff presented a proposed 2026 Capital Improvement Plan (CIP) that emphasizes multi-year funding needs for water infrastructure, parks and legacy facilities and sets a staff target of a $20 million annual general obligation (G.O.) bond sale.
Laura Biggs, the city engineer, said the proposed CIP addresses federally- and state-mandated lead service line replacements and an increased pace of water main replacement. She told the committee that federal and state grant and loan forgiveness (Illinois EPA and the Department of Commerce and Economic Opportunity) reduced the need for a water rate increase for 2026 but that multi-year rate adjustments may still be required for future years.
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