The budget for 1999 will combine the village’s traditional pay-as-you-go approach with “pro-active spending” to stimulate economic development, village officials said Monday.
Planned are major projects, including the upgrading of the waste-water treatment plant, the extending of sewer and water service and the upgrading of some roads. The money is on hand, Village Administrator John Downs said, noting that Mokena has $4.9 million in its capital reserve fund.
Even with such a major renovations coming, the village’s debt burden is going down, reaching a total of $24 a person from the 1990 total of $325 a person.
“We’ll be totally out of debt by (fiscal year) 2000,” Trustee John Mazzorana said.
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The village’s portion of the tax burden is decreasing slightly, Downs said. The owner of an $150,000 home will pay $25 to $30 less a year in village taxes, he said.
The budget includes 4 percent raises for village employees and funds for two new employees, a police officer and a street maintenance worker.
The village will end fiscal 1999 with $8,735,452 in the coffers.