Board OKs Up To $7M In Promissory Notes For New Mokena Police Station

MOKENA, IL — The Mokena Village Board of Trustees at its Monday meeting unanimously approved an ordinance to issue general obligation promissory notes in an amount not to exceed $7 million to help pay for the construction of the future Mokena Police Department's new police station, to be located at 191st Street and 104th Avenue.

Bids on the promissory notes will be due July 13, according to Village documents. Bids will have to show interest rates for three early redemption options: July 30, 2024; July 30, 2025; and July 30, 2026.

The board at its May 9 meeting voted to finalize a $15.9 million contract with construction company Henry Bros., based in Hickory Hills. It also voted at that time to authorize an additional $580,000 for any unexpected costs.

The Village had estimated bids for the project to come in at around $12 million, but supply chain issues and an high inflation pushed those bids up higher, according to Village staff.

Related: Village Of Mokena Moving Forward With New Police Station

Village Finance Director Sharon Dangles recommended to the board that the Village issue $4.75 million in promissory notes to cover the balance of the contract with Henry Bros.

Should the Village decide to issue the full $7 million in promissory notes the board approved, the extra money could potentially allow for the Village to use the remaining funds for "the purpose of financing various capital improvement projects in and for the Village, including, but not limited to, building and equipping a new public safety facility for the Village," according to the text of the ordinance as read by Trustee Debbie Engler.

The Mokena Police Department has been at its current facility, located at 10907 Front St., since 1995.

Construction on the new police station is scheduled to begin sometime in the summer.