Peoria County board approves $1.38 million Kickapoo-Edwards road bid despite unsigned developer agreement
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Summary
The Peoria County Board voted 17-0 to approve the Kickapoo-Edwards Road bid letting for about $1.38 million even though a formal development agreement with developer BECS was not yet signed; the developer has verbally pledged $500,000 and staff will return with a funding plan and a revised development agreement.
The Peoria County Board voted 17-0 to approve the bid letting for the Kickapoo-Edwards Road and Veil Dispense Road project after members debated timing and financial guarantees for the work.
Board Chair said the bids came in at about $1,380,000, higher than the $1.2 million the county initially budgeted, creating a roughly $240,000 gap. A developer contribution of $500,000 was reported as a verbal commitment from the developer BECS, but board members noted the county did not yet have a signed development agreement. "We currently do not have a signed development agreement from BECCS on this project," one member said during the discussion.
Despite concerns, members argued that delaying the letting risked losing contractor availability and higher future costs in the spring construction season. A member said they had asked Administrator Sorrell not to sign the William Charles contract "until such time as that development agreement is executed," and staff discussed issuing a letter of intent to the contractor to allow advance purchasing while the development agreement is finalized.
Board Chair said the county will ask staff to develop options to close the budget gap and to return with a proposed package that shows repayment or recapture plans tied to expected revenue sources. The chair said the project could generate new revenues, including gaming and sales taxes and facilities taxes, that would help repay any county outlay. "This opportunity is too good to let it pass," the chair said.
Staff noted the timeline was tight: bids are most favorable now and rebidding later could increase costs. Staff expects to bring a revised development agreement through committees at the end of the month for the February board meeting.
The motion to move the bid letting to the floor, with a subsequent vote to approve the bid letting, carried 17-0 in the chamber. No contract will be executed until the board has the required development agreements and insurance in place, per board discussion.
What's next: staff will return with a development agreement and recommended funding approach to address the gap and document the developer contribution and timing before any contract is executed.