Galesburg Aldermen tonight can approve a Phase II study on the feasibility of expanding Lake Storey after an initial study found it was physically and financially doable. It was almost a year ago in February that the contract for Phase I with Edgewater Resources was approved by the Council. Their report from that study came back in December showing that the expansion of Lake Storey to three times its current size could be done without raising residents taxes. Council documents say the Phase II study will focus on four areas; Planning and Community Engagement/Visioning, Real Estate Planning and Development Strategy, Detailed Entitlement Permitting 4. Detailed Financial Feasibility and Implementation. This Phase will involve the opportunity for community input. It will also involve working with city staff to examine the permitting process that would be involved.
This study will cost the City $125,000 plus $10,000 in expenses which have been budgeted for in the economic development fund.
Galesburg Aldermen can approve a redeveloper’s agreement to help the Galesburg Public Library with the costs of clearing out some buildings in anticipation of constructing a new library on the corner of Main and Academy Streets. The Library’s Board of Trustees has recently purchased the properties at 230 and 212 West Main which is commonly known as La Mesa Inn bar. If the Council approves, the Library would get up to $50,000 towards the price of purchasing the buildings and up to $20,000 in demolition costs.
The dollars would come from Tax Increment Financing funds. The Library Board of Trustees is paying $200,000 for the two properties according to Council documents although the cost of demolition is not yet known. Library trustees were hopeful last year that funds for a new Galesburg library would finally come available through the state after Galesburg made it to the top of the list and funds came available in a multi-billion capital plan. But the status remains on those dollars remains unknown for now as the state’s budget has been set back by COVID-19.
