Alternatives include applying for low-interest state loan
by Martha Quetsch
MAPLE PARKâ€”Maple Park village officials hope to obtain federal stimulus money for a future water main replacement project in the village. However, they are not optimistic about their chances, so they have a backup plan.
Village engineer Ralph Tompkins said the village submitted its application to the American Recovery and Reinvestment Act program in April. He estimated that the ARRA program received 1,700 applications for project funding, and that 50 to 75 percent would be approved.
Trustee Terry Borg said another possible source of funding for the water main project is a low-interest (2.5 percent), 20-year loan from the Illinois Environmental Protection Agency.
The Village Board on Tuesday agreed to continue pursuing the IEPA loan along with the federal stimulus money, at Tompkin’s advice.
â€œThese are state-revolving funds. There is no guarantee you will get it. But I would not recommend withdrawing the application,â€ Tompkins said.
Borg said a third option for paying for the $828,000 water main project would be using village funds, but that is the board’s last choice, since the project is not an emergency.