Notice of Public Hearing HIZ TIF

City of Peoria, Illinois, Peoria County, Illinois

Proposed Approval of HOSPITALITY IMPROVEMENT ZONE TIF
Redevelopment Project Area

Notice is hereby given that on the 14h day of October, 2008, at 6:15 P.M. at City Hall, Room 400, Peoria, Illinois, a public hearing will be held to consider the approval of the redevelopment plan (the “Redevelopment Plan”) and project (the “Project”) for and the designation of the Hospitality Improvement Zone TIF Redevelopment Project Area of the City (the “Redevelopment Project Area”) and the adoption of tax increment allocation financing therefore.

The Redevelopment Project Area consists of the territory legally described as follows:
The approximate street location of the Redevelopment Project Area is as follows:
Commencing at the corner of Kumpf Blvd. and Main St., said point being the intersection of the easterly line of W.M. Kumpf Blvd. and the southwesterly line of Main St.; thence southeasterly along the southwesterly line of Main St. a distance of 111 feet to the Point of Beginning of the tract to be described; thence southeasterly along said southwesterly line of Main St. to the intersection of the southwesterly line of Main St. and the southeasterly line of Monroe St.; thence northeasterly across main to the intersection of the northeasterly line of Main St. and the southeasterly line of Monroe St.; thence southeasterly along the northeasterly line of Main St. to the intersection with the northwesterly line of an alley in block 16 of the Original Town of Peoria; thence northeasterly along said northwesterly line of the alley to a point on the southwesterly line of Hamilton Blvd.; thence northwesterly along the southwesterly line of Hamilton Blvd. to the southeasterly line of Monroe St.; thence northeasterly along said southeasterly line to a point that is 94 feet southwesterly from the southwesterly line of Fayette St.; thence northwesterly and parallel with Fayette St. a distance of 171 feet to the southeasterly line of the alley in block 37 of Hale’s Addition; thence northeasterly along said alley line a distance of 94 feet to the southwesterly line of Fayette St.; thence southeasterly along the southwesterly line of Fayette to the northwesterly line of Adams St.; thence southwesterly along said northwesterly line to the centerline of a vacated alley in block 9 of the Original Town of Peoria; thence northwesterly along said centerline to the northwesterly line of Jefferson Ave.; thence southwesterly along the northwesterly line of Jefferson Ave. to the northeasterly line of Hamilton Blvd.; thence northwesterly along said northeasterly line to the northwesterly line of Madison Ave.; thence southwesterly along said northwesterly line to a point that is 230 feet southwesterly from the southwesterly line of Main St.; thence northwesterly and parallel with Main St. a distance of 171 feet to the southeasterly line of an alley in block 17 of the Original Town of Peoria; thence southwesterly along said southeasterly line to the northeasterly line of Fulton St.; thence northwesterly along the northeasterly line of Fulton St. to the northwesterly line of Monroe St.; thence southwesterly along the northwesterly line of Monroe to the westerly line of Kumpf Blvd.; thence northerly along the easterly line of Kumpf Blvd. to the southerly line of M.L. King Dr.; thence easterly along the southerly line of M.L. King Dr. to a point that is 100 feet southwesterly from the southwesterly line of Main St; thence southeasterly and parallel with Main St. a distance of 111 feet; thence northeasterly and parallel with M.L. King Dr. a distance of 100 feet to the Point of Beginning.

There will be considered at the hearing approval of the Redevelopment Plan and Project and designation of the Redevelopment Project Area and the adoption of tax increment allocation financing therefore. The proposed Redevelopment Plan is on file and available for public inspection at the office of the City Clerk at City Hall, Room 401, Peoria, Illinois 61602. Pursuant to the proposed Redevelopment Plan and Project the City proposes to facilitate redevelopment of the Redevelopment Project Area by incurring or reimbursing eligible redevelopment project costs, which may include, but shall not be limited to, studies, surveys, professional fees, property assembly costs, construction of public improvements and facilities, building and fixture rehabilitation, reconstruction, renovation and repair, financing costs and interest costs, all as authorized under the Tax Increment Allocation Redevelopment Act, as amended.

The Redevelopment Plan and Project proposes to provide assistance for residential and commercial facilities by paying or reimbursing costs related to site assembly, analysis, professional services and administrative activities, public improvements and facilities, including streetscape enhancements, water and sewer improvements, street lighting and landscaping, the execution of one or more redevelopment agreements, and the payment of financing and interest costs.

Prior to the date of the hearing, each taxing district having property in the proposed Redevelopment Project Area and the Illinois Department of Commerce and Community Affairs may submit written comments to the City, to the attention of the City Clerk, City Hall, 419 Fulton Street, Room 401, Peoria, Illinois 61602.

There is hereby convened a joint review board to consider the proposed approval of the Hospitality Improvement Zone TIF Redevelopment Plan and Project, designation of the Redevelopment Project Area and adoption of tax increment allocation financing therefore. The joint review board shall consist of a representative selected by each community college district, local school district, park district, library district, township, sanitary district, regional airport authority, transit district and county that will have authority to directly levy taxes on the property within the Redevelopment Project Area at the time the proposed Redevelopment Plan and Project is approved, a representative selected by the City, and a public member. The first meeting of said Joint Review Board shall be held at 3:00 P.M. on the 11th day of September, 2008, at City Hall, 419 Fulton Street, Room 112, Peoria, Illinois 61602.

At the hearing, all interested persons or affected taxing districts may file written objections with the City Clerk and may be heard orally with respect to any issues regarding the approval of the proposed Redevelopment Plan and Project, designation of the Redevelopment Project Area, and adoption of tax increment allocation financing therefore.

The hearing may be adjourned by the Mayor and City Council of the City without further notice other than a motion to be entered upon the minutes of the hearing fixing the time and place of the subsequent hearing.

/s/ *
__ City Clerk
__ City of Peoria
__ Peoria County, Illinois