Lake Zurich to unveil new 20-year community investment plan

The village of Lake Zurich will present a draft Tuesday of the new 20-year Community Investment Plan, which officials will use as a guide to preserve and maintain more than $100 million of village assets.

Officials will present the plan, which covers 2020 through 2039, at the village board meeting Tuesday night.

The village's first Community Investment Plan was approved in 2017. The newest edition is the first biennial update, according to Kyle Kordell, assistant to the village manager. The 2017 plan earned accolades from several groups and netted Lake Zurich innovation and project awards from the Lake County Municipal League and both the Lake County and the Chicago chapters of the American Public Works Association.

The plan focuses on the rehabilitation, repair and replacement of village assets including roads, water mains, buildings, equipment and vehicles. The plan identifies 156 projects totaling $161 million to be addressed over the next 20 years, Kordell said.

"The village strives to maintain the high quality of its services and assets, providing careful stewardship of the public's investments, in alignment with the community's strategic goals of fiscal sustainability and infrastructure investment," Kordell said in a statement.

More than half the projects in the plan concern the village's water and sewer systems. Other large projects include the annual road resurfacing program, which is largely paid for by village sales taxes.

"The planned replacement of infrastructure and equipment ensures uninterrupted essential municipal services including drinking water, police, fire, EMS and public works," Kordell said in a statement.

Of the 156 projects, the plan identifies up to 36 projects that may be incorporated into next year's budget, Kordell said.

The meeting will start at 7 p.m. Tuesday at village hall, 70 E. Main St.