Cost of water tower project more than anticipated
Medaryville Town Council members were a bit blindsided after they were informed of the cost of the proposed water tower project during a regular meeting on Aug. 16.
Kankakee-Iroquois Regional Planning Commission Executive Director Edwin Buswell reviewed the project budget with the council and said the total project was estimated to cost $867,250. The maximum grant funds the council can ask for is $550,000 causing the local share costs to be $317,250. That is about $200,000 more than the council anticipated.
Council members were left questioning why there was a large difference from the original proposed costs and now. Buswell broke down the costs stating the construction budget is estimated to be $703,000 with the soft costs estimated at $100,000, plus a few additional costs to total $867,250.
If the council wants to move forward with the project, they will most likely have to borrow money. Buswell did not think the town could obtain a borrowing agent before the grant deadlines. He suggested that the council talk with the engineering company to see if cost-cutting can be done.
Clerk-treasurer Judy Harwood estimated that the town rates would have to increase to be able to bond that amount of money. Schultz said he doesn’t want to see a rate increase.
The town tabled the grant application.