Title/Name/Summary
Resolution Authorizing Application by The Village for Illinois Transportation Enhancement Program Funds for The McGinnis Slough Multi-Use Path
History
The Village desired to apply for Illinois Transportation Enhancement Program (ITEP) funds for the McGinnis Slough multi-use path project. Phase I Engineering is nearing completion and Phase II engineering is funded with grant and local funds.
There is also funding secured for construction and construction engineering from the Surface Transportation Program (STP) in the amount of $1,500,000.00, but the project is anticipated to cost $4,870,000.00 so there is still a funding gap. Staff is proposing to apply for ITEP funds in the amount of $2,396,000.00, which would bring the total federal funding up to the maximum 80% that is allowed. The remaining estimated Village share for construction and construction engineering would be $974,000.00.
Financial Impact
The impact will be in a future fiscal year capital budget.
Recommended Action/Motion
I move to adopt the Resolution as fully presented.
(Full motion - not necessary to be read)
I move to adopt a Resolution, entitled: RESOLUTION AUTHORIZING APPLICATION BY THE VILLAGE FOR ILLINOIS TRANSPORTATION ENHANCEMENT PROGRAM FUNDS FOR THE MCGINNIS SLOUGH MULTI-USE PATH.