Officials this week approved lending more than $1.1 million to three Madison County entities to improve and build infrastructure.
The Grants Committee unanimously voted Monday on two federal Urban Development Action Grant (UDAG) loan/bonds and one Park Enhancement Program (PEP) Grant loan. The County Board will vote Wednesday, April 17 on the loans.
“It’s always good when we can help our neighboring districts take advantage of federal dollars so they can improve their parks and services,” County Board member David Michael, chair of the Grants Committee, said.
The committee approved a $750,000 UDAG loan for the city of Edwardsville from the Community Development Infrastructure Revolving Loan program. The loan is set at 3 percent interest rate for seven years.
Edwardsville City Administrator Kevin Head said the city would be using the money to build infrastructure at its new Plummer Family Park. The state-of-art, 83-acre sports park will include multiple soccer, baseball and softball fields, an all-accessible field for those with special needs, pickleball courts, tennis courts, concessions and restrooms.
The park will be located off Goshen Road near Ridge View Road and Interstate 55.
Edwardsville City Clerk Jeanne Wojcieszak said the city plans to use future PEP grant funding to repay the loan. The total cost for the park is expected to be around $14.3 million.
Moro Public Water District is borrowing $350,000 in the form of a bond through the UDAG revolving loan program. The district plans to use the funding to install a second water meter from Bethalto Water and 8-inch and 6-inch water lines east of Heartland Meadows subdivision along Moreland Road near Parkside Elementary School.
Community Development Attorney James Schrempf said due to statutory regulations the water district cannot take out a loan, however the county can offer the money as bond. He said all the same terms, 3 percent for seven years, would apply.
“Everything is the same, except for what we are calling it,” Schrempf said.
The village of Williamson is borrowing $13,000 in PEP grant funding to complete its tennis courts. The village received a $15,000 PEP grant in March for the restoration of its tennis courts and the loan will cover the remaining costs.
Community Development Coordinator James Arnold said the terms of the loan are 3 percent for one year. He said that Williamson would apply its 2020 PEP grant funding toward repaying the loan.
Michael said none of the money for the loan programs is derived from property taxes.