The Village Board of Cary, Illinois approved a motion this week that would approve a natural gas franchising agreement with Nicor Gas Co.
This agreement was made as part of the Northern Illinois Municipal Natural Gas Franchise Consortium, which the village became a member in 2009. This group has recently completed negotiations with the company and has encouraged member cities, town and villages to approve the franchising agreement.
The village has worked with the company since 1961 and has received annual payments of approximately $26,000. With this agreement in place, the village would be able to either receive annual payment of approximately $31,000 or it could receive unbilled gas service to a municipal building that is not utilized in any revenue generating processes. There will also be a renewal payment made to the village for $23,800.
The village board approved the measure in a unanimous manner by a voice vote. According to a webcast of the meeting the village board noted that the continued annual payment would be in the best interest of the village.
The consortium was represented by the Holland & Knight law firm. This board also reviewed meeting minutes from meetings that took place on Jan. 19.
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