Three Financing Options for Winnetka Stormwater Project Named

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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