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BY GREGORY TEJEDA
Times Correspondent | Saturday, May 17, 2008 | (2 comment(s))
LANSING | Village Board approval could come next month for a capital repairs program that will be paid for -- in part -- by doubling the fee residents pay for the village stickers on their automobiles.
On Tuesday, village trustees voiced agreement with Village President Dan Podgorski and his idea of spending up to $25 million during the next two years to pay for extensive road repairs, construction of a new fire station, improvements to the air conditioning at the Police Department, repairs to the municipal airport and purchases of equipment for the Fire and Public Works departments.
"We're far behind on many things we need to do," village Trustee Norm Abbott said.
Trustee Tony DeLaurentis also supported the proposal.
"I believe we should go (ahead with projects)," he said.
As envisioned by Podgorski, about half of the money would be spent on road resurfacing and other repairs. He said up to 23 miles of road -- or about one-quarter of all the streets in Lansing -- would be repaired under such a program.
Village sticker fees would rise from $15 to $30 per year, although the $1.50 fee that Lansing residents 65 and older pay for a sticker would not change.
Not all of the repair work would be done this year, but Podgorski said he would like to repair as many roads this year as possible and also overhaul the Police Department's air conditioning system.
Additional road repairs -- and other municipal improvements and purchases -- would be deferred until 2009.
In the case of a new fire station, the village has yet to purchase land, so the project couldn't begin anytime in the near future.
"We will prioritize what can wait for a year, and proceed with those projects that must be done now," Podgorski said.
As proposed, village officials would approve a bond sale that could raise between $8 million and $10 million to pay for this summer's projects. Additional bond sales would come later this year or early next year and raise money for additional projects that will begin at a later date.
"We can't possibly do all the projects at once, so there's really no need for us to put ourselves in all that debt at once," Podgorski said.
Trustees don't have a problem with the scale of the plan or the debt the village would assume. Most concerns revolved around refinancing current debt, a process that could help the village earn a lower interest rate on future debt.
Todd Krzyskowski, of Mesirow Financial Inc. of Chicago, is confident the village can obtain a lower interest rate, which could save up to $200,000. Village Trustee Nancy Lucas said that amount would be enough to pay for Police Department repairs.
But village Trustee Bob Ryan was slightly skeptical. Although supportive of the goals of a capital projects program, he feared the projects would wind up costing more than the estimated $25 million.
Podgorski said village officials need to take a stance now on whether to do the maintenance work.
"Whether we commit or not, these needs are not going to go away," he said. "These projects are needed."
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Blah Blah Blah wrote on May 17, 2008 6:06 PM:
Rob wrote on May 17, 2008 1:24 PM:
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