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Port authority updates railroad depot development

Lockridge, Maierhofer named to review revolving loan applications

Published: Monday, May 7, 2012 4:47 p.m. CDT • Updated: Tuesday, May 8, 2012 5:35 p.m. CDT

SENECA — The Seneca Regional Port District, when it met April 16, unanimously approved Carolyn Lockridge and Robert Maierhofer to review and gather the needed information of any loan applicants for the Districts Revolving Loan Fund.

Both are former bank lending officers from the area and familiar with the needs for the district and the village of Seneca.

Progress reports were made to the board on the railroad depot development that was purchased recently.

It was noted that bids for the roof replacement have been approved and that design and structural needs are being studied by the committee for a presentation to the full board as soon as prepared.

In answer to a question regarding the funding, it was explained that even though the district is a taxing body, it has never taxed the constituents for any amount and the funds being spent are earned through the ownership of the andhydrous terminal and interest earnings on the authority's funds.

The district is not a philanthropic organization, but has worked on numerous projects with the village of Seneca, and any funds advanced are being repaid per a scheduled re-payment agreement.

The primary function of the district is to work on attracting industry or commercial endeavors to locate within the district or on properties contiguous to the district and village boundaries.

In other business, the district approved a $1,000 support fee to be paid to the Seneca Shipyard Days Committee for its annual event, which is scheduled June 20-23.

Seneca Port District meetings are held the third Monday of each month at 7 p.m. at the Village Hall.

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