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Council directs casino-tax funds to risk reserve, Washington Street engineering and small engineering services
Summary
Council and Committee of the Whole agreed to move several items—$5.5 million to a risk management reserve, $1 million for Washington Street Corridor phase 1 engineering, and $100,000 for general engineering services—while leaving the downtown parking garage repair as a TIF expense.
The City of Waukegan’s council on March 3 approved a set of allocations from the city’s recently accrued casino-tax revenue (RAP) and clarified that a previously budgeted $1.5 million for downtown parking garage repairs will remain a TIF expense.
The committee and later the council agreed on three line items to move forward immediately: $5,500,000 to a risk-management reserve intended to cover potential legal judgments or settlements, $1,000,000 for Washington Street Corridor phase 1 engineering, and $100,000 for general engineering services. Supporters said…
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