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Village to consider extending IEPA loan term to 40 years for lead service line replacements
Summary
Robinson Engineering recommended amending Ordinance 22-048 to extend the loan term for Illinois EPA public water supply loans from 20 to 40 years to help secure funding for lead service line replacements. The proposed change was placed on the Feb. 17 Village Board agenda.
Jeff Pintar of Robinson Engineering briefed the committee on proposed amendments to Ordinance 22-048 to reflect updated Illinois Environmental Protection Agency loan program terms for lead service line replacement. Pintar explained that increasing the loan term from 20 years to 40 years would help the village secure IEPA funding; he also said references to individual loan numbers should be removed from the legal opinion because the revised ordinance would cover multiple loan numbers.
The minutes note the proposal will be on the Feb. 17 Village Board agenda for formal consideration. The committee did not take final action at this meeting.
The record does not list precise loan numbers, the projected loan amount, or final repayment terms; those details will be determined as the board reviews the ordinance amendment and supporting legal opinion.
