The establishment of a special services area, which would help to fund long-overdue water main upgrades in an unincorporated portion of Lake in the Hills, will be discussed at Tuesday’s Committee of the Whole meeting
With a special designation, a municipality can issue bonds payable from property taxes levied from homeowners within the designated area.
The estimated 70-year-old water main system in question serves 71 customers, 67 of whom live in the unincorporated portion of the village, and has reached the end of its useful life, village staff have said.
The actual construction costs of the project will not be determined until the project is awarded a bid in the fall, according to village documents. The engineer’s not-to exceed estimate includes a 25% contingency.
An engineer’s estimate compiled by H.R. Green in 2018 put the cost of a water main replacement at about $1.8 million.
Should the ordinance pass, a public hearing on the proposed SSA would take place June 11 before a Village Board meeting.
Under SSA tax law, if an objection petition is signed by 51% of the voters and 51% of the owners of record within the SSA, and filed within 60 days of the adjournment of the public hearing, the SSA will not be established.
The village expects to award construction and adopt a bond ordinance for the project by Oct. 22. After a 30-day review period, the bonds will be issued, pending board action.
The Committee of the Whole will meet at 7:30 p.m. at Lake in the Hills Village Hall, 600 Harvest Gate.