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Urbana proposes $2 million interfund loan as IDOT seeks return of federal funds tied to Windsor Road; award at risk ~ $2.2M
Summary
Staff asked the committee to forward a $2,000,000 interfund loan from the retained risk fund to the motor fuel tax fund to pay bills while the city appeals IDOT/FHWA requests to return federal funds tied to Windsor Road pavement work; the committee voted to send the item to council.
City staff asked the Committee of the Whole to forward Resolution 202409061R authorizing a $2,000,000 interfund loan from the retained risk fund to the motor fuel tax (MFT) fund to allow the city to pay outstanding invoices while it appeals an IDOT and Federal Highway Administration action related to the…
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