Lake Storey Expansion Feasibility Study

December 17, 2020 04:10 PM
LakeStoreyballoon
 
In an effort to increase quality of life and development, Galesburg city leaders have proposed evaluating the expansion of Lake Storey. On February 3, 2020, City Council approved a contract with Edgewater Resources, a specialty planning consultancy focused on water development, to conduct an initial feasibility study of expanding Lake Storey from the current 144.65 acres to approximately 572 acres
 
The initial feasibility study is complete and available for the public to view on the City’s website. The results of this preliminary study suggest that the proposed project is potentially physically and financially feasible, and merits an additional detailed final feasibility study.
 
Potential benefits of the project are elaborated upon in the feasibility study and could include increased quality of life, public recreation opportunities, and property tax revenues from new homes/developments. In addition, the project could leverage private investment to serve as an economic catalyst by generating jobs in new construction and attracting new residents.
 
The results of this initial feasibility study will be utilized to determine if the City of Galesburg is interested in pursuing the project further and moving on to the Phase II feasibility analysis. If a Phase II study is approved by the City Council in 2021, a more comprehensive feasibility study will be conducted, which requires significant additional fieldwork, research, permitting investigation, and extensive community outreach. 
 
 
 

 

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