BACKGROUND
Attached is the Illinois Department of Transportation Motor Fuel Tax Resolution appropriating funds for the 2015 MFT Street Reconstruction Program. Funding for this project is provided in the approved FY 2015-2016 Budget and shall be distributed as follows: $322,870 for the Nichols Road (Arlington Heights Road to Kennicott Avenue) Street Reconstruction Project and $80,716 for the Walnut Avenue (Oakton Street to Thomas Street) Street Reconstruction Project.
The total project cost is estimated to be $2,017,930. Federal funding will cover 80% of the project cost at $1,614,344.
RECOMMENDATION
It is recommended that the Construction Resolution for Improvement by Municipality Under the Illinois Highway Code appropriating $403,586 for the 2015 MFT Street Reconstruction Program be adopted by the Village Board.