Submitted By
Bill McKenna, Village Engineer/Assistant Public Works Director
Reviewed By
Erin E. Baynes, Assistant to the Village Manager
Agenda Item Title
Title
A Resolution Authorizing the Submission of a Uniform Application for State Grant Assistance with the Illinois Department of Commerce and Economic Opportunity (DCEO) for the Madison Street Streetscape Project
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Overview
Overview
In 2023, the State of Illinois approved $500,000 in the annual budget for DCEO funds for the Village of Oak Park for costs associated with infrastructure improvements. As approved in the FY24 Budget and Capital Improvement Plan, the Village will utilize these State funds for a portion of the costs associated with the current Madison Street Streetscape project as the project already utilizes DCEO funds. The State requires a grant application through the DCEO for the use of these funds. This grant application allows for the Village to use funding to reimburse Village costs for the project.
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Recommendation
Recommendation
Adopt the Resolution.
Background
In 2023, the State of Illinois approved $500,000 in the annual budget for DCEO funds for the Village of Oak Park for costs associated with infrastructure improvements. As approved in the FY24 Budget and Capital Improvement Plan, the Village will utilize these State funds for a portion of the costs associated with the current Madison Street Streetscape project as the project already utilizes DCEO funds. The State requires a grant application through the DCEO for the use of these funds. Upon approval of the grant applications by the State and DCEO, the Village would enter into grant agreements with the State.
The Madison streetscape project already utilizes DCEO funds. Adding these additional DCEO funds to the project is the easiest way to administer their disbursement given their numerous reporting requirements.
Fiscal Impact
The FY24 Budget includes $500,000 in State DCEO Grant revenues for funding th...
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