De Soto Village Board of Trustees Meeting Minutes January 2026
Village Approves Watermain Project Loan, Engineering Services
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Description
De Soto Village Board approved moving forward with the Phase IV Watermain Replacements project using the $1,500,000 EPA loan arranged by J. T. Blankinship, Inc., with 30% of the loan forgiven. The 20-year loan includes a 1.62% interest rate.
Contract Details
Contract Amount
$1,500,000.00 (30% forgiveness, $360,000.00)
Vendor
J T BLANKINSHIP INC
Agency
De Soto village, IL
Contract Type
PROFESSIONAL_SERVICES
Document Date
January 20, 2026
Contract Term
20 years at 1.62% interest, annual payment approx. $58,000.00
Renewal Date
2046-01-20
Renewal Info
20-year loan term; no renewal. This contract authorizes project administration and engineering services related to the EPA loan.
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