Title/Name/Summary
2025 Resolution for Improvement Under the Illinois Highway Code - Rebuild Illinois Funds - 2026 Neighborhood Roadway Resurfacing Project
History
On June 28, 2019, Governor Pritzker signed the REBUILD ILLINOIS Capital Plan to fund transportation projects and improvements, along with many other investments. Municipal allocations were distributed based on the regular Motor Fuel Tax (MFT) formula. These Rebuild Illinois (RBI) distributions are not MFT distributions, but rather grants made from bond sale proceeds that must be tracked separately as RBI expenditures. The Illinois Department of Transportation (IDOT) requires the Village to pass a resolution for the utilization of RBI funds. All authorizations must be IDOT approved by July 1, 2025.
Between May 2020 and September 2022, the Village received six (6) installments of $623,528.11 each in Rebuild Illinois Bond funds, for a total of $3,741,168.66. On April 5, 2021, the Board passed the 2021 Neighborhood Road Improvement Program - Bid Award, which authorized the usage of two (2) of the six (6) RBI distributions for Phase 2 of the overall project. The attached Resolution allows the use of these funds in 2026.
Financial Impact
None.
Recommended Action/Motion
I move to adopt a Resolution entitled: RESOLUTION FOR IMPROVEMENT UNDER THE ILLINOIS HIGHWAY CODE, related to the expenditure of RBI Funds for the 2026 Neighborhood Roadway Resurfacing Project.