SAVOY, Ill. (WAND) - The Village of Savoy seeks new proposals for downtown development after its original partner dropped out. 

Downtown Development Group LLC told Village trustees that it could no longer meet "financial requirements" for the project. 

Work on the new downtown square began earlier this year. 

The Village plans to publish requests for proposals in the fall.

"While we wish our agreement with the Downtown Development Group could have come to full fruition, we remain optimistic about the future of this project. Our hope is to have a new redevelopment agreement by the end of 2026," said Village Administrator Andy Quarnstrom in a statement. 

Interested developers can contact Quarnstrom at andy.quarnstrom@savoy.illinois.gov. 

Copyright 2026. WAND TV. All rights reserved.