Financial Information
Of the approximately $48 million in total costs, roughly $26 million of the project is being financed through property taxes. This financing structure was authorized by taxpayers by a 2 to 1 margin as part of the 2012 voter referendum, which authorized the Village to issue up to $41 million in General Obligation Bonds to pay for the project. The remaining $22 million in costs is being paid for by revenues generated from the water utility system, which are driven by water rates.
In July 2018, the Village Board approved a new 5-year Water & Sewer Rate Schedule that adjusts rates to begin paying for Lake Michigan water project costs.
Financial Resources