Title
Joint resolution authorizing the execution of the Central Lake County Area Transportation Improvement Intergovernmental Agreement among the Villages of Grayslake, Libertyville and Mundelein, and Lake County, which addresses the developer portion of funding of various county long-term highway improvements in six sub-areas. This resolution also amends the existing County/Grayslake Central Range Transportation Agreement to make the County the lead agency with $4 million in funding from the Village for the intersection improvements at Peterson Road/Allegheny Road and Peterson Road/IL Rte 83.
Staff Summary
· Central Lake County Area Transportation Improvement Intergovernmental Agreement
· The County and the Villages of Grayslake, Mundelein and Libertyville have evaluated the traffic demands from the anticipated future development of the Central Lake County Area.
· The normal access-related, developer-funded highway improvements in this Area, by themselves, will not create interconnected improvements for existing and long-range traffic needs.
· The Agreement creates a way to pay for the needed long-range interconnected improvements with public and developer funding (approximately 50% each) that would efficiently convey the anticipated traffic.
· Six sub-areas were established with calculated per acre developer costs (with cost indexing) to fund 50% of an associated list of specific roadway improvements.
· The Agreement establishes the criteria for a village or county (unincorporated development) collection of developer payment of highway fees.
· The County will be responsible to financially manage, by sub-area accounts, the funds collected.
· The LCDOT will be the lead on implementing the listed highway improvements, with 50% county share in response to various milestone events.
· The Villages of Round Lake, Round Lake Park and Hainesville are able to choose to join the intergovernmental agreement in the future.
· The 5/5/2005 Grayslake Central Range Tran...
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