Water rate study underway to plan for project?s financing





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*Oswego?s new water source project
**clears key hurdle *

*"Water rate study underway to plan for project?s financing "*

The Village of Oswego?s goal to obtain Lake Michigan water through the DuPage Water Commission is on track for 2027. The Village recently received its Lake Michigan Water Allocation Permit [ [link removed] ] from the Illinois Department of Natural Resources which allows the project to move to the next step.

As part of a year-long process to obtain approval from the state, the Village had to meet several criteria for permission to tap into Lake Michigan water including evidence that the aquifer is no longer able to meet the community?s needs and that other water source alternatives are not as viable.

To share the cost of the project, the Village is partnering with Montgomery and Yorkville. At its August 22 Committee of the Whole meeting [ [link removed] ], the Oswego Village Board will hear the first of several presentations on the water rate study.

The Village continues to find ways to offset the cost of the project to residents which is currently estimated at approximately $73 million for the Village?s share. Federal grants and low-interest loans will help reduce the total cost of the project, as well as continued revenue from the Village?s real estate transfer tax that was approved by referendum in 2022.

?We?re excited to receive the permit to access Lake Michigan water from the Illinois Department of Natural Resources,? Village President Ryan Kauffman said. ?The Board and staff are committed to finding additional funding sources to help offset the costs of this important project.?

Earlier this summer, the Board approved money for the engineering phase that will be accomplished over the next two years and will further refine cost projections.

For more information about the new water source project [ [link removed] ], visit oswegoil.org/water.

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