Notice to Residents
Re: Paddock Lake 2024 Street Improvement and Water Main Replacement Project
Dear Homeowners/Residents:
This notice is written to inform residents of upcoming street improvements and water main replacement within the Village of Paddock Lake. This project is in part funded by Village Unrestricted Reserves (savings) and the sale of General Obligation Road Improvement Bonds.
The Village will be resurfacing the streets depicted on the attached map. Using the Wisconsin Pavement Surface Evaluation and Rating (PASER) system to inspect these roads Village Consulting Engineers determined that the roads need resurfacing and some roads and or sections of roads need base repairs and replacement to bring roads to safe state of good repair. In addition to road improvements, several sections of the 1956 era municipal water mains will be replaced in conjunction with the road improvement project.
Funding:
The 2024 Steet and Water main project will be funded with unrestricted reserves (savings) and the sale of General Obligation Bonds, below depicts the anticipated project costs and funding:
|
Projected project costs |
$2,890,000 |
|
Unrestricted reserves, savings from past budget years |
$750,000 |
|
Water system replacement funds |
$250,000 |
|
General Obligation Bond |
$1,890,000 |
The Street improvement General Obligation Bond will replace the expiring 2005 Street Improvement Bond and therefore lessen the resident property tax burden.
Project Timeline (tentative):
|
Village Board authorizes design of Improvement project |
July 2023 |
|
Board authorizes the use of unrestricted reserves to fund project |
Jan. 2024 |
|
Project is put out for bid |
Feb. 2024 |
|
Bid opening |
March 2024 |
|
Preliminary locates and marking of public utilities in R/W |
Spring 2024 |
|
Sale of General Obligation Bonds |
April 2024 |
|
Project Contract awarded by Village Board |
April-May 2024 |
|
Project begins |
May-June 2024 |
|
Substantial completion of project |
Aug. Sept. 2024 |
Prior to the start of the project in resident neighborhoods, the Village will mail notices to residents impacted by the project, in addition status reports will be posted on the Village website at www. paddocklake.net
Any questions or concerns can be directed to Tim Popanda, Village Administrator at 262-843-3617
https://paddocklake.net/wp-content/uploads/2024/02/Public-Notice-Map-1.pdf