Schaumburg sets $146 million capital improvement plan
Schaumburg trustees Tuesday recommended approval of a $146 million capital improvement plan for the next five years that includes road repairs, new tollway interchanges and replacement of trees destroyed by the emerald ash borer.
For the work planned, the village has already received $35 million in grants and is continuing to pursue more.
Two-thirds of the capital improvement costs through 2020 are earmarked for roadway improvements, and the village plans to change the way it funds them for greater efficiency, Assistant Village Manager Paula Hewson said.
Schaumburg has used its motor fuel tax revenues for work on major roads. In the future, the village would use those funds for operations and instead issue $17.5 million in bonds to cover work on major roads. The bonds wouldn't be issued until the 2016-17 budget year, and they would be retired in 10 years, Hewson said.
The change would allow the village to improve about 9.3 miles of road per year instead of the previous 7.1 miles, she added.
In 2015-16, for which a total of $30.8 million in capital improvement projects is planned, there are a few specific road projects. Those include reconstruction of Salem Road from Golf to Bode, and design work on Plum Grove Road from Golf to Wiley, on Woodfield Road from Meacham to Interstate 290, and on State and National Parkway from Plum Grove to Golf roads.
The village's emerald ash borer mitigation program would finally reach the reforestation stage next year, with 1,200 trees to be planted then and more to follow annually.
Improvements in the tax increment financing district at the north end of the village near Algonquin Road would include bridge and interchange improvements over the Jane Addams Memorial Tollway on Roselle and Meacham roads next year. The total cost of work in the TIF district in 2015 would be $9.4 million, with the village's share $7.2 million.
Beyond the expenses for roads and utilities, the village would install neighborhood gateway signs, renovate dressing rooms at the Prairie Center for the Arts and conduct an analysis of the fire department's space requirements, Hewson said.
Village trustees, who met as a committee Tuesday night, will take a final vote Jan. 13.