On November 6, the Village of Glencoe will be formally asking residents to give the green light for $8.55 million in new general obligation bonds to handle street, sewer and sidwalks improvements.
If approved, the upgrades, which would include street resurfacing, sidewalk improvements, and storm and sanitary sewer maintenance upgrades, would begin in 2013.
The itemized costs of the work:
- $5,480,000 in Storm Sewer Improvements
- $830,000 in Sanitary Sewer Maintenance Upgrades
- $2,035,000 for Street Resurfacing
- $205,000 for Sidewalk Improvements
The cost to residents, in relation to their tax bill, would be $33 per $10,000 for the next six years.
According to the Village of Glencoe website, the total amount households will be assessed is less than the 2012 pre-referendum amount. Over the 15 year life of the debt, the village says the average annual cost will be $109 per $10,000 of total taxes.
For additional information, visit the Village of Glencoe website.