LOSTANT — Foundation work for a new water tower is scheduled to begin Oct. 14 in Lostant, village president Jack Immel told the Lostant Village Board on Monday.
He said the foundation will be ready by mid-November. The tower is expected to be up by mid-January and should be operational mid-summer.
Immel said the new tower will increase water pressure around town, so its operation will be “feathered-in.”
Disconnection and deconstruction of the old tower will take place after the new tower is functioning properly.
Immel asked the board to consider the color to paint the new tower, taking into consideration the durability and appearance of the colors chosen over time.
Though the village will need to raise approximately $350,000 through bonds to cover the village’s portion of related tower costs, Immel expressed confidence in the ability to manage the anticipated $1,800 monthly payments for the 25-year term the bond repayment schedule will require.
In fact, Immel said with the imminent closure of assorted financial obligations, the village may find itself with a renewed capacity to not only handle the new water tower payment, but also tackle more projects next calendar year, perhaps with as much as $10,000 in aggregate.
Among the obligations mentioned, Immel stated that only one payment of $1,000 remains to Chamlin & Associates of Peru for engineering work on the new water tower. A final loan payment of $496 is coming in October for assorted village roofing work, and a final payment of $4,745 on a TIF loan will be made Feb. 14, 2020.
Raises for employees possible?
Immel asked the board to consider the prospect of increasing wages for village employees, in view of these anticipated renewed financial margins.
Dog registration Saturday
Dog registration will be 9 a.m.-noon Saturday at the town hall. A veterinarian will be present from 11 a.m.-noon. Immel said this would be an excellent time for residents to register their golf carts also, as a police officer will be present for this purpose.
Trustee Chris Dose reported that village street patching work has been completed.