Pecatonica development committee organizes funding plan

By Chris Johnson

Correspondent

By the March meeting of the Pecatonica Village Board, the Pecatonica Economic Development Committee has to have its 2018 Fiscal Year Budget in place. They have to know where the available dollars will be going and for what purpose they will be designed. The Economic Development Committee met last Monday to close in on finalizing this year’s draft. They know, approximately, what they will have to work with next year.

All of the funds accessed by the PEC EDC are raised through the use of legal video gaming machines in the village of Pecatonica. The current number of licensed facilities in the village helps grow between $2,500 and $3,000 per month in revenue, as an average. The FY 2018 Spending Plan will be listed at just under $40,000 with all of the dollars being sent to the EDC.

The draft spending plan shows an additional $10,000 could be placed in the Community Events Fund. This means dollars could then be distributed through the fund to help with community projects such as the highly-touted Small Town Bright Christmas, the State-recognized Memorial Day Parade or towards the development of plans for the village’s anticipated sesquicentennial birthday in 2019.

To read the full story see the Jan. 18 edition of the Gazette.