Wheaton borrowing $6 million for bridge, road repairs
Wheaton plans to borrow $6 million to pay for its North Main Street project and the reconstruction of the bridge carrying Wesley Street over the Union Pacific Railroad tracks.
City Manager Don Rose said the bond issue is needed because Wheaton doesn't have enough reserve cash to pay for both capital projects, which have long been on the city's to-do list.
"Even when times were good we didn't have sufficient money to pay for these two projects," Rose said. "So it was always the intent to do some borrowing when we needed the money for the projects."
The bridge reconstruction started in November. Once the work is finished at the end of the year, the new bridge will be wider and higher. It also will be strong enough for fire trucks, public works vehicles and school buses.
While the bridge project will cost $9.3 million, the city's share is about $1.9 million. The rest of the money is coming from other sources, including grants from the federal government and DuPage County.
Meanwhile, Wheaton must raise another $3.5 million before work can start on proposed flood control improvements for North Main Street.
As part of the project, a new bridge will be installed where a culvert now stands near the intersection of Main and Cole Avenue. The larger opening will allow more stormwater to flow beneath Main Street and into Northside Park.
Rose said the plan is to start the Main Street improvements after the park district finishes the first phase of its renovation of Northside Park.
With three construction stages planned over multiple years, the roughly $8 million project will address flooding, enhance recreation programs and change the landscape of the 70-acre park near Prairie Avenue and Main Street. The first phase is expected to be completed by August.
In the coming weeks, Wheaton City Council members will need to vote to borrow the $6 million for the Main Street and bridge projects. If the bond issue is approved, it's not expected to greatly increase property tax levy, which is the share of the budget paid for by property owners.
Depending on how much the two larger projects end up costing, the bond issue could provide Wheaton an additional $500,000 for other road repairs.
This year, Wheaton spent about $1.8 million on road improvements using money raised with its motor fuel tax. That's about $1 million less than what it used to spend before the current economic downturn.