Developing an order-of-magnitude opinion of cost for a program as complex as undergrounding an entire municipality involves making a variety of assumptions and qualifications about how the program will be executed. After reviewing these assumptions and qualifications with The Village, it was determined that the program cost in 2021 dollars is anticipated to be $206,300,00 after considering contingencies and projected inflation from 2022 to 2034. The table illustrates a breakdown of these costs. Third-party funding sources – such as federal, state, and local grant funding – will be considered to offset portions of the cost.
The Village’s financial consultant will develop funding options that consider the use of different sources of revenue as well as the best debt structure methodology. The funding options will consider the use of grants, general governmental funds, and special assessments. Costs for individual property owners will be determined in the future.