The Village of Lake Zurich received an Honorable Mention award from the Lake County Municipal League’s annual “Innovation Awards” dinner on December 6, 2017. Lake Zurich received 2nd place recognition for its20-year Community Investment Plan that was adopted by the Board of Trustees in October 2017.
The Lake County Municipal League Innovation Awards program recognizes municipalities that have developed strategic initiatives to solve municipal challenges and increase the effectiveness of local government. The awards program also facilitates an exchange of information and experiences to build capacity for municipalities and jointly celebrate successful programs that could benefit other communities.
Lake Zurich’s 20-year Community Investment Plan (CIP) provides a long-term perspective on infrastructure investment, fulfilling multiple objectives of the Village of Lake Zurich’s Strategic Plan’s “Fiscal Sustainability” and “Infrastructure” goals.
Lake Zurich presently owns and maintains over $130 million in infrastructure, including roads, water mains, sanitary and storm sewers, buildings and equipment. Even with ongoing maintenance, these assets have varying service lives: police squad cars are typically replaced after five years of heavy usage, fire engines typically serve for up to 20 years, and sewer and water mains are expected to last 40-50 years.
Replacing these items as they age can be a financial drain on the financial resources of the Village, especially when they compete for limited resources against more-immediate service needs. The20-year CIP allows for better planning for these heavy costs and when possible, set aside resources to provide minimal impact to the operations budget. Replacing infrastructure and equipment with a planned approach saves money and is far less disruptive to the community than an emergency response to an infrastructure failure.
Mayor Tom Poynton said, “We decided that we couldn’t afford not to know our long-term capital infrastructure needs... not just for current Board and Staff but for future Boards and Staff. Creating a twenty-year community investment plan was a daunting exercise but one that I believe will prove to be invaluable as we continue making significant strides on making our community an even better place to live.”
The Lake County Municipal League is a council of 43 cities and villages in Lake County dedicated to furthering excellence in municipal government through information sharing and networking, intergovernmental cooperation, and advocacy for the community interests of its membership.
The plan can be reviewed online here.