In the news
Joliet council could vote Tuesday on lease for Houbolt Road bridge
HERALD-NEWS: Bob Okon – June 16, 2020
The Joliet City Council on Monday was getting its first look at a 99-year lease agreement that spells out terms for future city ownership of a privately built Houbolt Road bridge estimated to cost $160 million. The council is slated to vote Tuesday on the lease, which must be approved before bridge construction starts.
The lease agreement had not been made public as of Monday and was not yet completed. Council members said they were getting information about what is in the agreement in private meetings. There was no public presentation on the lease agreement at the pre-council workshop meeting Monday, although one is expected before the council votes Tuesday.
The lease agreement has been in the works for months and at one time was expected to be brought to the council for approval in December.
The new Greater Chicagoland Economic Partnership was announced this week and includes the City of Chicago, Cook County and six counties across the northeastern Illinois region including Will County.
The kind of project that doesn’t come along very often. That’s how Peter Schmidt, senior vice president with Rosemont, Illinois-based Meridian Design Build, described the Lion Electric project in Joliet, Illinois.
Ruth Colby, CED Board Chair, welcomed more than 250 guests and thanked members of the CED Board for their time, guidance, and leadership in making the CED and Will County the best it can be. She reflected on the CED’s forty-one years of success. In 2022 forty-three investor organizations marked 30 years or more of investment in the CED, which was commemorated through presentations of Certificates of Appreciation recognizing their commitment to community and their partnership with the Will County Center for Economic Development.