Board approves bond advisor and variance

CALL TO ORDER

ROLL CALL

PLEDGE ALLEGIANCE

Public Comment is subject to the public comment rules and procedures adopted by the Village.

REPORTS

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Additional fall trees for plantings. This is in addition to the $25,092.00 purchase order approved at the 10/16/2025 board meeting. | attachments=1

Board to consider a motion approving the Mayor's reappointment of Larry Babyar to the Police Pension Board. Background of Subject Matter Each appointment is for a two-year term. Mr Babyar has served on the Pension Board since November 2015.

Board to consider an ordinance approving a request from Ellen Bomba and Eugene Hong, for the property at 31 South Grant Street, Westmont, Illinois, 60559, for a Zoning Ordinance Variance to the maximum lot coverage in the R-3 Single-Family Detached Residence District for a patio. Background of Subject Matter The petitioners propose to construct a 330 square foot patio with either concrete or pavers. This construction would raise the property's lot coverage from approximately 37.2% to 40.8%, which exceeds the 35% maximum allowed in the R-3 Single-Family Detached Residence district. Therefore, the petitioners are requesting a variance to a maximum lot coverage of 40.8% (rounded to 41%). Additional Background The subject property is not eligible for administrative approval because it is located within a known sub-basin, which contains a low depressional area (LDA) concentrated around the intersection of Richmond and Grant Street, largely in Lebeck Park. Additionally, the front portion of the property itself (31 South Grant Street) is located within the LDA, as well as neighboring residential properties. Recommendation At its meeting on October 8, 2025, the Planning & Zoning Commission recommended approval of the variance request for a lot coverage up to 41% (4-2, one absent) with a condition to require that the construction of the patio use permeable pavers with an aggregate base course depth of 12 inches or the manufacturer’s standard, whichever is greater per the Village's engineering consultant recommendation. | attachments=2

Board to consider an ordinance approving an agreement appointing Raymond James as our municipal advisor for the issuance of General Obligation Alternate Revenue Bonds in the amount of $34,000,000.00 Background of Subject Matter The Village utilizes the services of a municipal advisor to assist the Village with the preparation and issuance of bonds to finance large capital infrastructure projects. Starting in the first half of 2026, the Village anticipates starting construction on water system utility improvements valued at approximately $4,000,000.00 along with the construction of a new fire station estimated to cost between $24,000,000.00 to $30,000,000.00. Payment of future debt service payments on the bonds are planned to come from water utility rate revenue as well as 1/2% (0.50%) non-home rule sales tax. The issuance of $4,000,000.00 in bonds for water system utility improvements was factored into the long-range financing plan of the Village's Water Fund when the Village Board approved new water rates in December 2024. Raymond James has served as the Village's municipal advisor for many years, most recently serving in this capacity for the Village in 2019 on the issuance of bonds to finance construction on the Village's public works facility and in 2022 on a refunding (refinancing) issuance. Raymond James additionally assists the Village on an annual basis in completing and filing required financial disclosures to existing bondholders. Fees pursuant to this contract are approximately $44,000.00, which is competitive compared to other municipal advisors. Recomendation Approve | attachments=1

This Board may adjourn to closed session to discuss matters so permitted and may act upon such matters upon returning to open session.