$1.1 million will be used for infrastructure for downtown redevelopment project
By Dave Fidlin
Correspondent
Union Grove officials have moved forward with plans to sell the $1.1 million in municipal bonds that were taken out early this spring to help shepherd the Granary redevelopment effort underway downtown.
The Village Board on May 13 adopted a resolution for the sale of the general obligation bonds. The maneuver comes on the heels of a March 25 resolution that called for taking out the bonds.
Proceeds from the bond sale are set to go toward public improvements linked to the Granary, which is a mixed-use housing and commercial development being spearheaded by Sawall Development.
Phil Cosson of financial advisor Ehlers and Associates was on hand at the recent board meeting and discussed the bond sale process.
The village has in place a tax-incremental financing, or TIF, district to use as a mechanism to fund the improvements. Cosson in his discussion said the bond proceeds are slated to go toward such upgrades as municipal water connections and street paving in and near the development.
Other business
The Village Board last week also gave organizers the go-ahead to place ‘Paint the Town Purple’ banners throughout the community in anticipation of Relay for Life of Union Grove’s upcoming fundraiser to benefit the American Cancer Society.
The board’s motion also gives the organizers permission to tie purple bows throughout the downtown area in the weeks leading up to the relay, which is set to take place Friday, June 14.
In an email, Sarah Zander, community development manager with the American Cancer Society, said the visuals are designed to bring fresh awareness to an event that has been a staple in the community.
“We’re trying to think of some creative ways to spread the word about our event this year,” Zander said.
Village President Mike Aimone, in response, said he had no problem with the proposal.
“I don’t think there’s any heartburn over your promotion,” Aimone said. “It’s a great event you bring to the community.”
For more news from the Union Grove area see the May 31 edition of the Westine Report
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