Atkinson to move forward with loan for water project
Even though so much is still unknown, Atkinson Village board members decided to proceed with a loan application for the water main-meter project.
At their meeting on Nov. 15, the board authorized Dan Pepin, Community Funding and Planning Services, Stockton, to complete a 25-year loan application in the amount of $1,183,000 with the Illinois Environmental Protection Agency.
According to Shrhonda Delp, village clerk, the village will pay .83 per cent interest on the loan over a 25 year period.
Previously, the board learned the State of Illinois is no longer offering forgivable loan money which is what the village had applied for to help pay for the water main-meter project which was estimated to cost $1 million. The Village of Atkinson had applied for $400,000 in a forgivable loan and planned to borrow the remainder of the cost of project from the State.
The project is now estimated to cost $1.8 million-plus due to increased costs of materials.
The village will seek bids for the project no later than March 31, 2022.
In other business, the board approved the installation of a 40-ft.guard rail along Rock Island Ave., which was recently resurfaced.