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A groundbreaking amendment to the Shipyard Business Development Park TIF could reshape Seneca's future by extending its term to 35 years and unlocking new funding for redevelopment!

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First amendment to SenecaShipyard Business Park TIF would extend district, update project budget
A proposed first amendment would extend Shipyard Business Park TIF No. 2 to a 35-year term, update the 2003 estimated project costs (originally $11,260,000) to 2026 dollars using CPI growth plus an additional 5%, and allow use of incremental tax revenues and bond financing; the Joint Review Board recommended adoption on Nov. 12, 2026.
citizenportal.ai
November 11, 2026 at 10:23 AM
citizenptnewsil.bsky.social
Seneca Village is poised to extend its Shipyard TIF for an additional 12 years and increase project budgets to boost local development—find out what this means for the community!

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Seneca proposes 12-year extension and budget increase for Shipyard TIF
Resolution 655 would amend the Shipyard Business Development Park TIF (TIF No. 2) to extend the district to 35 years, increase project cost estimates (originally $11,260,000) for 2026 dollars, and schedule the same public hearing and Joint Review Board sequence as TIF No. 1.
citizenportal.ai
October 26, 2026 at 3:50 AM
citizenptnewsil.bsky.social
Seneca Village is set to discuss a significant 12-year extension and budget increase for the Old Stage Road TIF, promising major developments ahead!

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#SenecaLaSalleCounty #IL #CitizenPortal #EconomicDevelopment #PublicFinancing #SenecaTIF #CommunityPlanning
Seneca proposes 12-year extension and budget increase for Old Stage Road TIF
Resolution 654 asks the Village Council to amend the Old Stage Road TIF (TIF No. 1) to extend the district to 35 years, update project cost estimates (originally $15,450,000) for 2026 dollars, and schedule a public hearing and Joint Review Board meeting.
citizenportal.ai
October 25, 2026 at 4:13 PM