Western Springs proposes $45 million bond for infrastructure

Western Springs, Illinois, is seeking voter approval for a $45 million bond issue. The referendum will be on the ballot for the April 1 election. The funds are intended to improve aging infrastructure, including sewers, water mains, roads, sidewalks, and street lighting. Village officials, including Deputy Village Manager Casey Biernacki, expressed optimism about the bond's approval. They have already begun engineering work for projects, including a significant road and sewer project on Woodland Avenue. If approved, construction using the bond funds might start as early as late 2025. The bond repayment period will be between 17 and 20 years, with a maximum interest rate of 7%. Western Springs has received an upgraded credit rating of AA+ from Standard and Poor's, which should help with bond approval. The planned projects will focus on urgent needs in the first few years. These include repairing sewer lines, improving water mains near schools, and adding new sidewalks, especially in areas without any. Approximately 30% of the village's streets currently lack sidewalks. This proposed bond is significantly larger than previous issues, which were $6 million in 2008 and $12 million in 2016. Homeowners will see annual costs of about $345 for a $750,000 home and $465 for a $1 million property. Village officials have a long-term plan estimating that $200 million will be needed for infrastructure projects over the next 30 to 40 years. They plan to seek additional funding sources after the bond issue to keep addressing these critical needs in the future.