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Economy planners outline new state-mandated capital improvement plan; board votes to enter MOU for fund management
Summary
A presenter said new state rules require towns to adopt a three-year capital improvement plan and establish a roads and infrastructure fund; the board voted to enter an MOU with the Town of Economy to manage the fund. The board noted 2026 fund size is modest.
At the Oct. 8 meeting, Dan Hollenberg presented a summary of new state requirements that the township adopt a capital improvement plan (CIP) and create a dedicated roads and infrastructure fund starting in 2026. Hollenberg said the plan must project capital expenditures for at least three years and estimated that about 30% of leftover unrestricted township funds must be transferred annually into the roads/infrastructure fund.
Hollenberg recommended entering a memorandum of understanding (MOU) with either a town inside the township or the county for fund management because the projected 2026 fund (noted in the record as about $1,500) would be insufficient for large county road projects. Town of Economy President Jeff Jackson moved to enter the proposed MOU and Shirley seconded; the transcript records the vote as "Vote was 20 to enter into the agreement," and records indicate the motion passed. Under the arrangement discussed, the town would act as the fund originator while the township would manage the funds and make payments upon billing.
Board members emphasized the limited size of initial funds and the need to accumulate funds across years for meaningful projects. The board discussed eligible uses for the funds (sidewalk repairs, lighting, fire equipment, playground infrastructure and parking-lot or gymnasium repairs) and noted the MOU sets the administrative mechanism for managing small project funding.
Next steps: staff will complete the MOU paperwork and coordinate with the town for fund originator responsibilities and future project prioritization.
