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On July 23, the Village of Lincolnwood approved a potable water supply agreement with the City of Evanston. The agreement includes an initial term of 39 years and may be extended by additional 10 year terms. Over the initial 39-year term of the agreement, Lincolnwood estimates that it will save approximately $57 million compared to purchasing water from the City of Chicago.
After construction of a transmission main to bring the water into Lincolnwood, it is anticipated that the City of Evanston will begin providing water to the Village in 2020. The agreement provides a wholesale rate of $1.60 per 1,000 gallons of water for the years 2020 through 2022. After 2022, it is anticipated that the rate will increase 2% per year, however the agreement caps the increase at 4% annually.