Daily Journal

Kankakee bond sale clears 1st reading

Rain puddles in the potholes along South Indiana Avenue in Kankakee in January 2023.

Rain puddles in the potholes along a street in Kankakee. The Kankakee City Council is selling bonds to begin a major push toward repairing crumbling city-owned streets. (Daily Journal/Tiffany Blanchette)

By Lee Provost

The first step toward what is expected to be a nearly $10 million bond sale was taken Monday by elected leaders from the Kankakee City Council.

If all goes as planned, the sale should be officially ratified at the council’s August 18 meeting.

With that date in mind, Mayor Chris Curtis said the city and its financial advisors will likely be selling its bonds on September 11, meaning the city could have the money by no later than September 24.

The city will sell up to $9.75 million of government obligation bonds to take its first major step toward making sure motorists have better asphalt surfaces to drive on.

The crumbling, pothole condition of city streets has been a constant complaint of city residents and those traveling through the city.

If all goes as planned, the city is seeking to put $2 million of its Motor Fuel Tax funds from 2025 and 2026, along with another $2.5 million of bond money, to make a more significant impact on city street improvements.

Curtis is also seeking to do work along Brookmont Boulevard, specifically at the Brookmont viaduct, where $1 million is being targeted for improvements.

The uses for the bond funds are:

· $650,000 to aid the purchase of a new fire department ladder truck

· $800,000 for 16 new police vehicles over a four-year period

· $500,000 for design and engineering work for improvements to South West Avenue for a five-block stretch between West Court Street and West River Street

· $1 million for future riverwalk development

The city also will be selling up to $7.9 million of sewer revenue bonds at this time to fund restoration of the hydroelectric plant at the Kankakee River dam.

About $2 million of the sewer bonds will be used to complete the restoration of the three turbines at the plant. The restored turbines, which could be in place by October, would put the hydroelectric plant back in business of producing energy to help power the wastewater treatment plant, rather than purchasing electricity from ComEd.

Curtis said the turbine restorations would end up saving the city $300,000 to $400,000 yearly in electricity costs.

A portion of the sewer bond sale will be used to refinance existing bond debt.

Kankakee City CouncilKankakee County Front HeadlinesKankakeeFinancesInfrastructureTaxes
Lee Provost

Lee Provost

Lee Provost is the managing editor of The Daily Journal. He covers local government, business and any story of interest. I've been a local reporter for more than 35 years.