Paving “Reserve” Fund

I have often written of the above fund and concerns that I had in the long haul. I have now a different view, after a considerable conversation with LCAM Pat Blunck. We reviewed records showing the last repaving event occurred in the Village in 1998 with the final billing occurring in 1999. That amount was approximately $ 1,000,000.00. We reviewed how the original $ 4,050,000.00 was developed and why it was unnecessary to include cost of living increases for the past few years as that number was approximately a four (4) fold increase over the last paving expenses.

We further discussed that now there is a growing need for a proposal by an engineering firm to estimate the details of how we would scrape and resurface within the next few years, especially since we now are experiencing the 10th anniversary of that repaving project. This would give us a specific project proposal for the bidding process to begin in a timely fashion, with the special attention given to the drainage, and height disadvantages from the last resurfacing.

From this experience, I must admit the Paving concerns and “Reserve” considerations seem to be well in hand and I commend the Team for staying on top if this very important issue.


Ed Black