CHICAGO – As the spring thaw begins, Governor Pat Quinn today announced $100 million from the Illinois Jobs Now! construction program to repair municipal and township infrastructure throughout the state. The funding will help communities throughout Illinois combat potholes and make other critical infrastructure repairs following the historic winter weather Illinois faced. Today’s announcement is part of the Governor’s agenda to create jobs and build a 21st century infrastructure that will drive Illinois’ economy forward.
“The extreme and historic winter has left many roads in rough shape,” Governor Quinn said. “This investment will help local communities repair the damage done by Mother Nature and improve the quality of life for residents and businesses.”
Today’s announcement includes approximately $60 million for local governments in the Chicago area. The funding is the last of a series of annual transportation investments that municipalities have received through Governor Quinn's Illinois Jobs Now! program since 2010. In his fiscal year 2015 budget address, the Governor proposed a bipartisan working group to develop a new capital spending plan for the next five years.
The projects will be selected and managed locally, with the Illinois Department of Transportation (IDOT) providing oversight.
“This capital funding for local transportation projects shows our continued dedication to supporting local governments,” IDOT Secretary Ann Schneider said. “These local projects will improve the quality of life for residents, stimulate the economy and address immediate infrastructure needs.”
In addition to the Illinois Jobs Now! funds announced today, local governments in Cook County will receive more than $200 million in Motor Fuel Tax funds this year.
Late last week two bond rating agencies released their reviews of Illinois’ finances ahead of the upcoming sale of $250 million in General Obligation bonds that will finance roads, bridges and schools around the state. While they say the state still has work to do, they note the hard work the state has done to cut costs, pay down old bills and pass a comprehensive pension reform plan. Both agencies agreed that the Governor’s proposed budget would bring long-term fiscal stability to Illinois.
According to Fitch Ratings, “The governor's recommended budget for the coming fiscal year would … provide a basis for the state to achieve fiscal balance.”
For a list of the Chicago-area local governments receiving funding through today's announcement, please visit http://www.dot.il.gov/blr/Yearly%20MFT/IJN/FY%2014%20IJN%205th%20Installement.pdf.