Title
Approval of an Intergovernmental Agreement between the SMC and the Village of Vernon Hills for the Seavey Master Plan-Phase 3 Project with a Project Expense Match (PEM) value of $387,255.00, subject to final legal review.
Staff Summary
• Funding for the intergovernmental agreement is included in Grant Agreement No. 24-413046 between Lake County and the Illinois Department of Commerce and Economic Opportunity (DCEO) that was executed December 15, 2024.
• This project was authorized by SMC for inclusion in DCEO-STOCIP Regional Stormwater Infrastructure Project Round 2 on September 5, 2024.
• The intergovernmental agreement will provide funding, on a reimbursement basis, to the Village of Vernon Hills in an amount not-to-exceed $2,750,000.00 for the Seavey Master Plan-Phase 3 Project.
• The Village of Vernon Hills will pay a Project Expense Match to SMC of $387,255.00 for administrative and engineering expenses related to the projects.