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Maywood trustees approve transfers, including corporate funds and TIFs, to cover IKE 911 dispatch center share
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Summary
Maywood trustees voted to cover a $761,656.52 shortfall for the Eisenhower (IKE) 911 Dispatch Center by transferring $456,018.72 from corporate funds, $287,347.95 from the Madison/5th Avenue TIF and $18,290.15 from the Roosevelt TIF; Mayor Edwenna Perkins voted no on the transfers.
Trustees for the Village of Maywood on May 7 approved a package of transfers to cover the Village's share of the Eisenhower (IKE) 911 Dispatch Center after Finance Director Lanya Satchell reported a $761,656.52 funding gap.
Satchell recommended funding the difference with $287,347.95 from the Madison/5th Avenue tax increment financing (TIF) district, $18,290.15 from the Roosevelt Road TIF and $456,018.72 from corporate funds. The board approved the recommendation in roll-call votes; trustees H. Yarbrough, I. Brandon, A. Sanchez, K. Wellington and M. Lightford voted aye, Mayor Edwenna Perkins voted no, and Trustee R. Rivers was absent.
The board later approved three related ordinances transferring the stated amounts into a Chicago Title Insurance Company construction escrow account set up to pay IKE project costs. The transfers were presented as separate ordinances, each approved by the same majority with Mayor Perkins opposing each measure.
Mayor Perkins had earlier advocated extending the Roosevelt and Madison/5th Avenue TIF districts because the Village expects to take possession of properties at Bushwood and 5th & Roosevelt; Village Attorney Michael Jurusik said the proposed extensions would add about 12 years to the TIFs, carrying them through 2032.
The board packet included an attorney memorandum updating the IKE 911 project status. No additional public hearing on the funding transfers was recorded at the May 7 meeting.
The ordinance approvals conclude the board's authorization to deposit the Village's allocated share into escrow for disbursement to the IKE center project; the transfer and the TIF extension votes are the most recent formal actions recorded at this meeting.