WARRENVILLE – The city of Warrenville will receive a $201,625 loan for environmental cleanup activities at the former Musselman Lumber Company site along Mount Street to prepare for redevelopment, according to a news release from the Office of the Governor.
The 3.71-acre former industrial site is part of a larger redevelopment initiative by the city that includes expansion of the municipal complex, creation of open or recreational space and development of residential housing, the release said.
Illinois Revolving Loan Funds, such as the loan Warrenville will receive, are awarded to towns across the state for the cleanup of underutilized properties to prepare for redevelopment.
The repayment of the loan will be tied directly to the sale of the site. The city has drafted several conceptual redevelopment options for City Council approval, according to the release.