Mar 13, 2011

Peoria Super-sized TIF

It will Play in Peoria

Peoria tests new ground with super-sized TIF

Proposed East Village Growth Cell would encompass more than twice the size of the city's biggest TIF district.

"It hasn't been an easy process in developing Peoria's latest, and most unique, tax-increment financing (TIF) district.
The evolution of the East Village Growth Cell, the first TIF in Peoria aimed at revitalizing a neighborhood area, has its share of critics including Peoria School District 150. It also has its supporters, including some residents who believe it's time to fix up one of the city's oldest and most core neighborhoods."

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The new TIF would help the restoration of the historic Armory Buildimg. The building would be a great space for Caterpillar, OSF, Methodist, or for storage.  

Redevelopment of the building could be helped with Enterprise Zone and TIF incentives, and historic tax credits. This great building could be brought back to life quickly.

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