ACTION REQUESTED:
Title
Communication from the City Manager with a Request for the Following:
A. APPROVE a CONTRACT with THE LAKOTA GROUP to Conduct a Survey and Prepare One or More NATIONAL REGISTER OF HISTORIC PLACES NOMINATIONS for Downtown and the Warehouse District.
B. ADOPT an ORDINANCE Amending the City of Peoria 2017 AMENDED ANNUAL BUDGET Relating to the Use of the Warehouse District ($7,500.00), Central Business District ($7,500.00) and Downtown Conservation TIF ($10,000.00) Fund Balances for the NATIONAL REGISTER NOMINATION PROJECT.
Body
BACKGROUND: Over the past few years, the City has seen considerable success in renovation of historic property in downtown and the Warehouse District. In addition to other tools and efforts, a prime factor driving this investment has been the availability of state and federal historic tax credits. These tax credits create equity that has been a critical part of a project’s financing. To date, seven major projects have taken advantage of these tax credits:
|
Project |
Total Investment |
# Residential Units |
Commercial Square Footage |
|
Murray Place |
$15,000,000 |
30 |
35,000 |
|
Obed & Issac |
$3,843,678 |
0 |
15,000 |
|
Kickapoo Apartments |
$1,380,614 |
6 |
0 |
|
Persimmon Lofts |
$4,800,000 |
43 |
1,900 |
|
Cooperage 214 |
$6,391,844 |
18 |
6220 |
|
Marquette Apartments |
$3,641,000 |
28 |
12,000 |
|
Winkler Lofts |
$3,300,000 |
26 |
0 |
|
Total |
$38,357,136 |
151 |
70,120 |
In August 2017, Governor Rauner signed SB 1783, a bill championed by Peoria’s legislative delegation that extends the Illinois Historic Tax Credit through 2021. While a number of projects are currently in the works to utilize these credits, City staff believe a number of other key properties could benefit from the incentive. In order to qualify for the program, a property must either be individually listed on the National Register of Historic Places or be a “contributing building” within a nationally registered historic district. Of the projects listed above, the Kickapoo and Marquette Apartments projects qualified as individually listed properties. The remaining properties were contributing buildings in federal historic districts.
In consultation with the Illinois Historic Preservation Agency and Landmarks Illinois, it was determined that much of downtown and potentially portions of the Warehouse District not in the current historic district would qualify for the Register. The successful nomination and creation of one or more historic districts will facilitate the development opportunities. Preparing individual building nominations is a more complicated, costly and lengthy process.
The City issued a Request for Proposal seeking architecture and planning firms to assist with this process. Firms were asked to bid on the following tasks:
1. Conduct a survey and historical review of all properties within downtown and the Warehouse District.
2. Submit a recommendation to the City of one or more districts to be nominated to the National Register of Historic Places.
3. Prepare and submit one or more nominations to the National Park Service.
The City sent the RFP to 19 firms as well as publishing the opportunity on line. Three firms submitted proposals:
The Lakota Group $19,979
Farnsworth Group $48,305
Thomason & Associates $48,660
A team of City employees reviewed the proposals and recommend The Lakota Group as the selection. Upon approval, work will begin immediately. The survey and recommendation are anticipated to be completed by January 2018 with nominations submitted in the spring of 2018.
FINANCIAL IMPACT: Conducting this survey and preparing nominations to the National Register are eligible expenses for Tax Increment Financing (TIF). The work potentially spans a number of TIF districts. The attached ordinance amends the 2017 budget to utilize unobligated balance from the Warehouse District TIF ($7,500), Central Business District TIF ($7,500) and Downtown Conservation TIF ($10,000). An additional $5,000 is budgeted in case additional tasks outside of the prescribed work arise during the project.
NEIGHBORHOOD CONCERNS: This efforts supports a widely held community goal of preserving historic assets and redeveloping downtown and the Warehouse District.
IMPACT IF APPROVED: The contract will be approved and the work will commence.
IMPACT IF DENIED: The contract will not be approved and the City will cease its efforts to identify potential federal historic districts in this area. Individual property owners will need to nominate their structures as individual listings.
ALTERNATIVES: None.
EEO CERTIFICATION NUMBER: Application pending.
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Vibrant Downtown: Riverfront/ Central Business District/ Warehouse District
2. Attractive Neighborhoods with Character: Safe and Livable
3. Grow Peoria: Businesses, Jobs, and Population
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Reinvest in neighborhoods.
2. Grow employers and jobs.
DEPARTMENT: City Manager's Office