Chicago Construction News staff writer
The Village of Schaumburg is expected to approve the Fiscal Year (FY) 2024/25 $344.4 million budget April 23, prioritizes infrastructure spending and anticipates an easing of inflationary economic conditions and moderating revenue growth.
“The proposed budget is a responsible plan that allows the village to move forward and implement initiatives that are important to Schaumburg residents,” Village Manager Brian Townsend said. “The proposal allows the village to continue making improvements that will provide a high quality of life to those who live, work and play in Schaumburg.”
Plans include establishing a TIF District for the area in and around the Centex Industrial Park that will include a redevelopment plan to revitalize the area and strengthen the economic base.
Expansion of permitting software will allow staff to continue streamlining the process and enhance transparency for customers.
A list of updated projects for the fiscal year’s Capital Improvement Plan tops $72 million including $20 million to resurface, reconstruct, and improve village streets.
Work will continue on several projects including reconstruction of National Parkway and storm sewer and dredging improvements to Gray Farm Marsh and storm sewer replacement and rehabilitation of Illinois Avenue.
Also, $20 million was allocated for various infrastructure and regional projects at 90 North Park where work is scheduled to begin on Phase II of construction – to add a Water Feature Plaza and Tilted Lawn Zone that will provide additional recreational opportunities.
Additionally:
- $5.8 million is designated for the continued construction of the 90 North Shared Street Project
- $2.1 million for design of the 90 North Pedestrian Bridge
- $1.2 million for intersection improvements at Hammond Drive and Algonquin Road
Council allocated funds to design future facilities for the Atcher Municipal Center and the Public Safety Building, which were built in 1971 and 1975, respectively. Studies of these facilities indicate both are undersized and inadequate for the needs of present and future village operations.
Designs will also be initiated to renovate Fire Station 54’s training center and expand Fire Station 51 Headquarters to address lack of workspace and other functional needs.
“The village takes a conservative approach with its revenue projections to develop a plan that ensures it can maintain day-to-day operations as well as fulfill future obligations, all while maintaining its focus on meeting the needs of the residents of Schaumburg,” said Director of Finance Lisa Petersen.
