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Tentative
deal set on water reservoir
Chicago Tribune
- 3/19
PARK
RIDGE -- Park Ridge aldermen and park commissioners have reached
an informal agreement to construct an underground 10 million-gallon
water reservoir and pumping station.
While
a formal, detailed pact must be submitted to each jurisdiction
for approval, most members of the City Council and the Recreation
and Park District Board on Monday agreed that the land exchange
would best serve both sides, and taxpayers.
The city would locate its new $17.8 million facility in Hinkley
Park. In exchange, the Park District would move its maintenance
operations to the city's former public works garage at 1200 W.
Elm St.
The
city's current water storage system requires about $8 million
in repairs and lacks the capacity to meet future water use. It
is also in the heart of downtown, which is targeted for economic
redevelopment.
On
April 10 the City Council will consider funding options, including
tax-increment financing, to pay for the reservoir.
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