Lombard historical society secures funding for addition
A Lombard Historical Society project on a tight deadline got the funding commitment it needs to go forward Thursday night from the Lombard village board.
But the board will decide later, during its budget approval process, the fund from which money for the historical society’s carriage house expansion will come.
The historical society asked the village for a loan after being informed a $70,000 state grant it was promised only will be given if the society completes the addition planned for the carriage house behind the Victorian Cottage Museum by Dec. 31.
“It shortened our window to do fundraising and do the construction,” said Ed Seagraves, a historical society member who’s organizing plans for the addition.
The 1,200-square-foot, 2-story addition, designed by Lombard architect Stephen Flint, will add “new exhibit space and classroom space for children,” said Jeanne Schultz Angel, the historical society’s executive director.
The addition is estimated to cost $313,720. The village board on Thursday agreed to loan the historical society about $73,600 to cover the gap between funds raised and the project’s total cost. The village also will be paying another $81,000 that will not be reimbursed toward utilities, sidewalks and curb cuts, and fire and burglar alarms to be installed with the addition.
The loan and village-funded improvements were approved unanimously by the five trustees in attendance Thursday, but not without some discussion of whether downtown tax increment financing district money should be used.
Trustee Peter Breen requested Village Manager David Hulseberg provide some alternatives to using TIF funding and said the economic and community development committee, which he leads, should get to debate the expenditure if the TIF is the chosen funding source.
Trustee Zachary Wilson questioned what incentive the historical society has to actually pay back the loan once the project is complete.
“When they don’t pay it back, it turns into a grant,” Wilson said.
Village President Bill Mueller and Trustee Keith Giagnorio said they are confident the historical society will pay back the loan in the two years allowed by the intergovernmental agreement approved Thursday.
“I believe as a business owner and from talking to these fine people that they truly are motivated to pay it back,” Giagnorio said.
If the money isn’t paid back in time, the village also can extend the deadline or draw on funds the historical society has in certificates of deposit instead of automatically turning the loan into a grant, Hulseberg said.
Trustees were in agreement that the addition to the carriage house will enhance the Lombard Historical Society’s efforts to preserve the Lilac Village’s past.
“It’s not a huge addition, but for us, it’s a major, major improvement,” Seagraves said. “And we think the people of Lombard are the beneficiaries.”