The Illinois Tollway will spend $771 million next year starting work on the rebuilding and widening of the Jane Addams Memorial Tollway and the new Elgin-O’Hare bypass project, according to a tentative 2013 budget the agency unveiled today.
Other projects next year are completion of the new interchange on Interstate 90 at Illinois Highway 47 near Huntley and continued work on the new connection between the Tri-State Tollway (I-294) and Interstate 57 near Markham.
To help pay for these projects, the tollway anticipates raking in $977 million from tolls in 2013 – thanks to the 87.5 percent increase that went into effect Jan. 1.
No new tolls are expected, Executive Director Kristi Lafleur said.
The work is part of the tollway’s $12.1 billion, 15-year public works program. The tollway plans to issue as much as $1 billion in new bonds in 2013 to pay for the new projects and future capital needs, officials said.
Officials say their 2013 budget includes savings of more than $5 million.
Tollway board members plan to give the budget final approval at their Dec. 13 board meeting, after they review public comments.
The public can review and comment on the budget by attending public meetings, emailing comments or viewing an online presentation, officials said.
“This budget doubles the tollway’s capital spending over 2012, prioritizes improvements to our roadways and customer service, identifies new efficiencies and keeps our growth in baseline operating costs to just 4 percent,” Lafleur said in a statement. “We look forward to hearing what our customers have to say about our 2013 spending plan.”
Revenues are projected to increase $13 million, from $973 million budgeted for 2012 to $986 million budgeted for 2013, the agency said.
The tollway plans to allocate $283 million for maintenance and operations, an increase of $15.9 million over 2012.
“This is a responsible budget that demonstrates the tollway’s dedication to maximizing operating efficiencies and minimizing costs,” tollway Chairwoman Paula Wolff said in a statement. “The board is committed to hearing the public’s opinions on how their tolls are spent. As we begin our review, we look forward to considering their ideas about this budget plan.”
The tollway posted a copy of the 2013 tentative budget on the agency’s website, www.illinoistollway.com.
The tollway also scheduled a public hearing on Tuesday, Nov. 13, at 6 p.m. at tollway headquarters, 2700 Ogden Ave., Downers Grove.
The agency will also hold a session on Wednesday, Nov. 14, from 3 to 6 p.m. at the O’Hare Oasis on the Tri-State Tollway (I-294/I-80) in Schiller Park. Officials said the open house format will allow the public to view displays and a budget overview and ask questions.
The tollway also posted a webinar presentation on the budget on the tollway’s website.
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