Mar 4, 2008

Joint Review Board (JRB)

The JRB meeting is scheduled for Wednesday March 12, 2008 at 3:00 pm in Room 404 of the City Hall. The public is welcome. This meeting will update representatives of all the City of Peoria taxing bodies on the nine existing Tax Increment Financing Districts (TIF). The performance of each TIF will be discussed, and compared to non TIF areas.

The JRB will also discuss the potential Hospitality Improvement Zone (HIZ) TIF, which would assist existing and potential hotels to improve in downtown Peoria. Our neighbors in Normal, Tinley Park, and East Peoria have all developed high quality hotel and conference centers using TIF incentives. The City of Peoria can choose to either compete for this business, or accept a decline in conference attendance in downtown.

City Economic Development staff will be presenting the potential HIZ TIF to the taxing bodies over the next month. More info at: