Board approves consent agenda items and authorizes borrowing to cover development and signal costs

The Village Board approved its consent agenda and adopted a resolution to increase an ongoing borrowing authorization to permit funding the village’s share of a traffic-signal project and related expenses.

At the start of new business trustees considered the consent agenda — which the clerk’s packet listed as: minutes from the Feb. 17, 2025 meeting; 2024 fourth-quarter year-to-date financials; the January 2025 balance statement; approval of 2025 police vehicle purchases; a first amendment to a development agreement (with Sagewind/Sony/Brown Deer–spelled in packet as supplied); and an offer to purchase property at 7600 North At Tony Avenue. Trustee Thompson moved and Trustee Greaves seconded approval of the consent agenda. Trustees voted “aye” on the motion and it carried unanimously.

Later in the meeting, trustees considered Resolution 25-03, described in the meeting as “authorizing the issuance of not-to-exceed $4,600,000 taxable general obligation promissory notes and establishing parameters for the sale of not-to-exceed $4,000,600 taxable note anticipation notes.” Staff said the village had previously started the debt-issuance process and that the board was updating that resolution to add $500,000 to cover anticipated traffic-signal-related expenses; staff said most of that $500,000 is expected to be recovered through special assessments to property owners.

Trustee Greaves moved to approve Resolution 25-03 and Trustee Johnson seconded. The board took a roll-call vote; the clerk recorded ayes from the trustees listed in the roll call and the resolution passed.

Votes at a glance: - Consent agenda (minutes; 2024 Q4 financials; Jan. 2025 balance statement; 2025 police vehicle purchases; first amendment to development agreement with Sagewind/Sony/Brown Deer LLP; offer to purchase 7600 North At Tony Avenue): Moved Trustee Thompson; second Trustee Greaves; outcome: approved (unanimous voice vote). - Resolution 25-03 (authorize issuance of up to $4,600,000 taxable G.O. promissory notes and parameters for up to $4,000,600 TANs, with an added $500,000 for traffic signal costs): Moved Trustee Greaves; second Trustee Johnson; outcome: approved (roll-call vote recorded as ayes; details in packet).

Staff said the issuance process would begin immediately and be completed by early to mid-April; the added $500,000 primarily covers traffic-signal expenses and issuance costs such as bond counsel and underwriter fees.