Title/Name/Summary
Intergovernmental Agreement Addendum - US Route 45 at 143rd Street Intersection Improvements
History
In June of 2007, the Village and IDOT entered into an Intergovernmental Agreement (IGA) for the intersection improvements at US Route 45 and 143rd Street. At the same time that plans for the intersection project were being developed, IDOT was developing plans for the US Route 45 widening project. During discussions on how to best coordinate the two projects, it was agreed to extend the limits of the Village’s intersection project and add the necessary storm sewer work as part of the limits extension. As part of the property acquisition process, the Village also acquired the property at the southeast corner of the intersection, which allowed for the additional improvements to occur.
Per the original IGA with IDOT for the intersection improvements, IDOT was obligated to reimburse the Village $4,000,000. This reimbursement was received by the Village in March 2011. The Village also had a separate letter agreement with IDOT that provided for a reimbursement of $1,100,000 for the purchase of property located at the southeast corner of US Route 45 & 143rd Street. To date, this amount has not been received.
Upon completion of the project, the Village submitted a reimbursement request to IDOT for amounts related to the extension of the project limits, as well as property acquisition. IDOT has agreed to reimburse the Village for the actual cost of acquiring the property at the southeast corner of the intersection ($1,828,964), the cost of extending the project limits ($760,460) and the cost of additional storm sewer work due to the change in the project limits ($97,982), for a total reimbursement of $2,687,406.
IDOT requires the Village to execute the attached Intergovernmental Agreement Addendum in order to process the reimbursement.
Financial Impact
Upon receipt of this reimbursement, the Village's Capital Improvement Fund wil...
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