In 2009 I was fortunate enough to win the coveted Worst Timing Award for my support for an Enterprise Zone incentive for a new building on Main Street in Peoria. The Peoria Journal Star and the Peoria Chronicle opposed the incentive.
To successfully lead redevelopment city officials must take some risks even though they know they will be criticized in the media and on blogs. Local governments provided a limited four year incentive on property taxes to help obtain a permanent tax paying development.
The building is now completed, adding jobs, property tax, utility tax and hopefully sales tax to our economy. It was built during this tough economy in part because of the incentives provided. It stimulates an older neighborhood in the Heart of Peoria. It brings life and vitality to an area that had been in decline for many years and shows that our older neighborhoods can be renewed.
I thought it was the right thing to do then and now and I am proud to have won the award.
Neighborhood residents refer to this as the "ugly building." Locals are upset by the "bait and switch" tactics used by the developers to sell one thing and actually present another. A recent article in the Bradley Scout cites several BU student renters who are disastified with being told one thing and getting another.It would be half empty if BU had not made the unprecendented decision to allow freshmen to live off campus. Plus the promised retail has yet to materialize- which was a part of the deal for getting the Zone status. I think you've proclaimed success way too soon.
ReplyDeleteWe replaced an abandoned one story building with a new four story building filled with people in the Heart of Peoria. They are paying property tax, sales tax, and utility taxes and help make the area more vibrant.
ReplyDeleteA victory is a victory, and that is what this redevelopment is, in my judgement/