The Manteno Finance Committee took a second step toward developing the area around Second Street at its Dec. 17 meeting at Village Hall.
After reviewing several plans from the design firm Hitchcock Design for Second Street, the committee decided on a plan that would improve the Second Street area, build berms and add parking and a turnaround at the end of the street. The committee will seek a formal proposal from HItchcock that includes cost projections for all of the options.
Committee members decided the village is willing to pay $22,000 to participate in an information gathering project with Bourbonnais and other local governments who own an interest in the 6000 Interchange project. The funds will go to a private company for marketing the area around the project when it's finished. The funds are not in Manteno's current budget, but Mayor Tim Nugent said the village could find the funds.
The committee also reviewed its loan obligations for Village Hall. The current agreement with Municipal Bank requires the interest rate on the loan, taken out in 2010, to move to 2.75 percent, which is up from 2.5 percent, with the bank adjusting annually for the next five years.
During that same five-year period, Aqua Illinois will pay the village $5,000 annually in exchange for help getting the word out to customers about service changes, construction and other updates.
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