Schaumburg Village Board Approves Capital Improvement Plan
Updated 1/18/2021 11:40 AM
Schaumburg s village board voted unanimously to approve a $185 million, multiyear Capital Improvement Plan, which includes $40 million in improvements for the next fiscal year, beginning May 1.
The Capital Improvement Plan is a comprehensive plan that sets the direction and priorities for the village s capital improvement projects and associated funding for the next five years. The CIP is updated annually and represents the village s commitment to maintaining its infrastructure and capital assets in an appropriate state of repair.
The village continues to maximize available grant funding, which for the five-year plan is anticipated at $44 million, leaving $141 million to be funded through local sources.