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Oak Park finance committee previews $37M capital program, recommends $28M in borrowing
Summary
Village staff presented a recommended 2026 capital improvement program (CIP) that relies on a mix of fund‑balance transfers and new borrowing to pay for streetscape, resurfacing and multiple infrastructure projects. Committee members asked for a follow‑up finance meeting to review debt timing and repayment scenarios before board adoption.
The Oak Park Village Board finance committee on Sept. 25 reviewed a proposed $37 million capital improvement program for 2026 and recommended moving the plan to the village board with additional financial detail on borrowing and debt service.
Committee members and staff said the plan relies on a mix of fund‑balance transfers, interfund moves and new borrowing. Village staff told the committee the package would require roughly $28.2 million in bond financing if the board approves the CIP as presented; about $20 million of that figure is for the delayed Oak Park Avenue streetscape project, staff said. The remainder covers other infrastructure and facility projects. Staff also said roughly $5.0–$5.5 million of the program would be funded from the CIP fund balance and other transfers.
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