Three Financing Options for Winnetka Stormwater Project Named
The stormwater sewer project will cost the village $43 million.
Consulting firm Municipal and Financial Services Group (MFSG), which was hired by the Village of Winnetka, has unveiled three possible ways to fund a stormwater sewer project that would cost the village $43 million, according to the Chicago Tribune. The project would help address the chronic flooding problems that Winnetka has experienced in the past.
The first option for funding would be a “stormwater fee,” the Tribune article states. The second option would make all the expenses associated with the project be funded through property taxes. The last option is a hybrid of the first two, and it would pay for the capital project with a stormwater fee, while operating and maintenance would be paid for through property taxes.
A Sept. 12 Patch article noted that the village is considering installing a stormwater tunnel underneath Willow Road from Glendale Ave. to Lake Michigan. The project could provide flood relief to five drainage areas – north and south of Willow Rd., the Provident Ave. area, the Cherry St. Outlet and the underpass near New Trier High School.
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