Oswego Village Board OKs $32M Bond for New Police Facility
Apr 19, 2016 10:36PM ● Published by Steven Jack
After several months of preliminary planning, the village of Oswego has now secured the funding mechanism for its new $30 million police facility.
Village Trustees voted unanimously Tuesday night to approve a $32 million bond issue that officials have said won't raise residents' property taxes. Instead, the $2.8 million in annual principal and interest payments will be made through the village's home rule sales tax, which was increased Jan. 1 to a total of 8.5 percent.
The increase is projected to generate $2.8 million annually, according to village documents.
In March, trustees approved the purchase of about 16 acres adjacent to Oswego Fire Station #1 on Woolley Road to build a new police station. The purchase price of the land is about $204,000.
In addition to the land purchase, the board also hired Wheaton-based firm McClaren, Wilson and Lawrie, Inc. (MWL) to oversee construction on the new police station.
Oswego Police Chief Jeff Burgner said the village is in the process of selecting an architect for the new facility, and the design phase will begin after that.