Beautiful Downtown Peoria

Beautiful Downtown Peoria

Monday, September 15, 2008

HIZ & BDD Schedule Update

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Work continues on the development of the of the Hospitality Improvement Zone (HIZ) Tax Increment Financing District (TIF) and the Business Development District (BDD). We have completed the property survey work, and both plans have been completed and are on file for public review at the Economic Development office at 505 NE Monroe.
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Based on our survey work, research, and plan, the consultant and City staff have found that the district is qualified for both the TIF and BDD under Illinois State law. Both the TIF and BDD would assist HIZ area businesses reinvest and improve their properties, enhancing the hospitality industry.
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The JRB met on September 11, 2008 to consider the TIF. They met a second time on September 29, 2008 at 09:00 at City Hall. The taxing bodies voted unanimously that the area was eligible for the TIF.
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The BDD is scheduled for two public hearings before City Council on 14 and 28 October 2008.
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The TIF is scheduled for consideration at a public hearing on 14 october 2008 before the city council.
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Both the TIF and BDD are scheduled for City Council consideration for approval on the 28 October 2008.
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Info and schedule of future meetings and actions are on the blog below.


Contact Craig Hullinger or Bobby Gray at the City Economic Development office if you have any questions or concerns.

309 494 8640 hullingerc@gmail.com

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City Planner, Colonel, Marine Corps Reserve Retired, Vietnam Vet, married to Beth Ruyle