Title
Accounts Payable July 7, 2026 - Approval for Ratification
History
Due to the cancellation of the July 6, 2026, Village Board meeting, and as discussed at the June 15, 2026, Board meeting, the Finance Director authorized the processing of accounts payable in accordance with the Village’s normal payment procedures. This ensured timely payment of vendors, supported uninterrupted Village operations, maintained accurate financial records, and reduced outstanding liabilities.
Consistent with the recently executed agreement with E & R Development, LLC, the following payments were processed on July 7:
• Payment of reimbursements in the amount of $3,046,118.67 - funded from TIF fund balance.
• Payment of $1,000,000.00 for Waiver of Rights - funded from TIF fund balance.
• Payment of utility relocation deposit in the amount of $2,760,000.00 - funded from bond proceeds issued in February 2026.
A listing of the payments was provided to the Village Board on July 1, 2026, prior to issuance. In the absence of any objections, the Finance Director proceeded with processing the payments as scheduled.
Recommended Action/Motion
I move to ratify the Accounts Payable for July 7, 2026, in the amount of $6,806,118.67.