Champaign City Council held its regular meeting at the Champaign City Building on Tuesday, where the council discussed the financial plan for upcoming bond issuance and infrastructure to improve various areas in the city.
The meeting began with a public hearing regarding the budget for fiscal year 2024-2025. The state of Illinois requires that the city holds its public hearing prior to the adoption of the budget in its final form, in accordance with state legal requirements.
A copy of the budget is available on the city’s website for public inspection.
Finance director, Kay Nees, discussed the financial plan for upcoming bond issuances, or loans from the city. These bonds will provide some of the funding for the Garden Hills stormwater drainage project, which seeks to control stormwater and strengthen the Champaign neighborhood’s infrastructure.
The drainage project was developed in response to Garden Hills’ long history of flooding, and the plan has three phases. Further details on the stormwater management project can be viewed on the city’s website.
The design of the drainage project is guided by public input and the Garden Hills Strategic Neighborhood Action Plan. The plan includes the development of new walking paths, landscaping, seating, decorative features and the construction of Hedge Park.
Nees discussed the required funding for the Garden Hills plan and the Boneyard Creek improvement project, which involves naturalizing the creek, enhancing its physical appearance, and adding amenities like improved landscaping and art.
“Other projects that will require additional future bond issuances from within the stormwater management fund include the Garden Hills phase three, which we are currently estimating a $20 million bond issuance and up to $37 million in bond funding for the Boneyard Creek Improvement Project,” Nees said.
The city has secured $7.85 million in grant funding for the Garden Hills project, which comes from American Rescue Plan Act funding as well as federal grants from U.S. Representative Nikki Budzinski.
“Garden Hills phase three is set to start construction in 2026 and the Boneyard Creek project is tentatively scheduled to begin around 2030,” Nees said.
Another project included in the 2024-2025 bond issuances is the South Downtown Sanitary Sewer Project, which aims to increase sewer capacity within Champaign’s downtown area. Construction on this project began last summer.
Nees and Pamela Mobley, president and CEO of RSI Group, a municipal advisory firm, requested permission from the council to issue up to $37,735,000 in general obligation bonds, along with the debt proposal. Nees and Mobley requested that the council propose the plan of finance and bond ordinance at the regular council meeting on June 18th for approval, which the council agreed to.
The meeting concluded with input from the public. All city council meetings are live-streamed and uploaded to the city’s government television website.