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Committee recommends raising TIF No. 3 interfund loan cap to $5 million
Summary
Finance Director Kevin Doul Street told the Committee of the Whole the outstanding interfund loan to Tax Increment Financing (TIF) District No. 3 is projected at about $4.9 million by year-end; the committee voted to recommend a council ordinance to raise the maximum loan amount to $5 million to cover projected balances and allow FY2026 payback.
The Warrenville Community Development Committee of the Whole voted July 14 to recommend that the City Council approve an ordinance revising the interfund loan to Tax Increment Financing (TIF) District No. 3 and raise the maximum loan amount to $5 million.
Finance Director Kevin Doul Street said the city approved the original interfund loan authority in 2019 and that, as 2025 audit work…
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