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Village Considering $88,508 LED Streetlight Purchase; Finance Panel Plans TIF Incentives
Summary
Finance Chair Lynn Bjorvik reported a Lyons View bid of $88,508 for Cobra Head LED fixtures (a budgeted expense) and said the committee is developing reimbursable grants and other incentives for Grand & Thatcher TIF redevelopment, with details and an ordinance expected in July.
Trustee Lynn M. Bjorvik read the Finance & Economic Development committee report: the Village has received a bid from Lyons View to install Cobra Head LED streetlight fixtures for $88,508; the expense is budgeted and the contractor would install fixtures the Village would purchase. "The bid received from Lyons View was for $88,508. This is a budgeted expense," the report states.
Bjorvik also said the committee is considering reimbursable grants and other incentives to stimulate business and redevelopment within the Grand & Thatcher TIF District, including façade improvements and interior upgrades. The committee expects to present program details and an ordinance for board consideration at the July meeting.
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