construction

"END CONSTRUCTION" BY FLICKR USER CHRIS LASHER / (CC X 2.0)

Illinois has borrowed $550 million for construction at what Gov. Bruce Rauner's administration says is a record-low interest rate despite the state's beleaguered financial position.

Rauner's office announced Thursday that it sold $550 million in bonds at an interest rate of 3.7 percent. That's below the 4 percent interest offered when it sold $480 million in January.

Rauner spokeswoman Catherine Kelly contends it's the lowest interest rate in history among similarly situated general obligation bonds.

Illinois Road Projects On Hold For State Budget

Jun 9, 2016
"End Construction" by Flickr User Chris Lasher / (CC X 2.0)

The Illinois Department of Transportation plans to spend about 2 billion dollars on road projects for the next fiscal year that starts July 1 -- if there's a budget.

The lack of a deal could kill the construction season. 

That's what business leaders, contractors, laborers and other members of the Transportation for Illinois Coalition say.

Co-chair Todd Maisch, who's also CEO of the state Chamber of Commerce, says no spending on roads this summer would cause construction firms to close, or lay off workers.

"End Construction" by Flickr User Chris Lasher / (CC X 2.0)

Good-government advocates are criticizing the head of an agency that manages state construction projects for asking builders to lobby lawmakers to restore funding.

    

An email obtained by The Associated Press was sent Tuesday by Jodi Golden, executive director of the Gov. Bruce Rauner's Capital Development Board.

Golden's government email implored ``Construction Industry Partners'' to urge lawmakers to break the budget deadlock and approve more than $2.1 billion to resume construction this year and more for next year.

Resurfacing Planned For U.S. 20

Sep 26, 2014
State of Illinois

Three million dollars is on the way for a construction project in Kane County. State officials announced that the money will be used for resurfacing and widening on U.S. 20 near Pingree Grove.

The money comes from a state-wide construction program.

WNIJ

Less than half of the money in Illinois' Road Fund actually pays for highway construction and maintenance. That's the finding in a new audit that also says the Road Fund overpaid for employee health insurance.

The Road Fund aggregates billions of dollars every year to build and repair highways, but a new report from Illinois' auditor general says more than half the money is going for employee salaries and benefits, as well as paying off bonds.

The audit found several problems with how the Road Fund kept track of spending for employee health insurance.

Lawmaker: Video Gambling Paves Way for Construction

Oct 2, 2012
ilga.gov

The Sycamore City Council has approved a proposal to allow video gambling in certain establishments, including bars and fraternal organizations.  A 2009 state law gives local governments the authority to permit or ban the machines, regardless of the state's decision to legalize them.

Susan Stephens / WNIJ

A major road reconstruction project bordering the Chicago-Rockford International Airport is expected to boost business in the region. 

Construction slows traffic in Machesney Park

Jun 4, 2012

Road construction is becoming a familiar scene this time of year. For the month of June, construction is expected to continue around the revamped Machesney Town Center.  All businesses will remain open during the road improvements, but it may take longer to get around.

Construction continues this month for the inside lane of Highway 251 around the area formerly known as the Machesney Park Mall.  New turn lanes are being added on 251 between Copper Drive and Roosevelt Road.

Meanwhile, pavement will be moving east, framing the intersection of Illinois 173 and Illinois 251.