ACTION REQUESTED:
Title
Communication from the City Manager with a Request to Commence the Process to Expand the Boundaries of the PEORIA URBAN ENTERPRISE ZONE to Include VILLA BOURDEAUX APARTMENT COMPLEX (5250 N. KNOXVILLE AVE.), Former IDOT Site (6305-5831 N. KNOXVILLE AVE.), and BIG SHOTS (10000 N ORANGE PRAIRIE RD).
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BACKGROUND: In December 2014, the City of Peoria, Peoria County, Village of Peoria Heights and the City of West Peoria submitted a joint application to the State of Illinois for a new multi-jurisdictional Enterprise Zone. The new Enterprise Zone, named the Peoria Urban Enterprise Zone (PUEZ), was approved in the summer of 2015 and certified by the State of Illinois in December 2015 and includes a total of 15 square miles. The Peoria Urban Enterprise Zone became active on January 1, 2016. On June 14, 2016 City Council approved a proposed amendment to the PUEZ requested by Peoria County to include the Village of Bartonville, Village of Bellevue, and the Village of Mapleton. Subsequently, all participating jurisdictions in the PUEZ and the State of Illinois approved the proposed PUEZ amendment. Currently, the City of Peoria PUEZ boundaries is 5.70 square miles with 4.31 square miles available.
City staff receives ongoing request to expand the City of Peoria’s existing PUEZ boundaries to include properties scheduled for development and/or in need of additional incentives to attract development. Following are proposed properties to be added to the PUEZ.
1. VILLA BOURDEAUX APARTMENT COMPLEX, 5250 N Knoxville Ave, Council District 3.
The City of Peoria is aware of multiple developers interested in purchasing and redeveloping this site for multi-family housing. Developers have requested that this property be added to the Peoria Urban Enterprise Zone.
2. FORMER IDOT SITE, 6305-5831 N. Knoxville Ave, Council District 3.
A developer has expressed interest in purchasing and redeveloping the former IDOT site for commercial development in 2019. The developer has requested that this property be added to the Peoria Urban Enterprise Zone.
3. BIG SHOTS SITE (RT 91), Council District 5.
This site will be developed into an entertainment use. The owner has requested that this site be added to the Peoria Urban Enterprise Zone to attract further development.
Adding all the proposed properties in the PUEZ increases the City of Peoria’s boundaries by .05 square miles. The total designated miles for the City of Peoria is 5.70 square miles and the added proposed parcels will leave 4.26 square miles remaining.
Below is a chart that details the effects of adding each proposed request to the PUEZ.
|
|
ADDED PROPERTIES |
CURRENT PUEZ SQ. MILES |
ADDED SQ. MILES |
SQ. MILES REMAINING |
|
1. |
VILLA BOURDEAUX |
4.31 |
.01 |
4.30 |
|
2. |
FORMER IDOT |
4.31 |
.01 |
4.30 |
|
3. |
BIG SHOTS |
4.31 |
.03 |
4.28 |
|
|
TOTAL REQUESTS ADDED |
4.31 |
.05 |
4.26 |
|
|
|
|
|
|
A map of the City of Peoria’s current Peoria Urban Enterprise Zone boundary map is attached. An online version of the Peoria Urban Enterprise Zone is available at <http://growpeoria.com/business-assistance-programs/>
FINANCIAL IMPACT: The map amendment for the Peoria Urban Enterprise Zone will include over $10 million in developments and new jobs. By including these developments in the Peoria Urban Enterprise Zone, projects would be eligible to receive PUEZ benefits, including sales tax exemption on building materials and property tax abatement.
NEIGHBORHOOD CONCERNS: N/A
IMPACT IF APPROVED: City staff will begin the application to amend the Peoria Urban Enterprise Zone boundaries. An amendment to the Peoria Urban Enterprise Zone Ordinance must be approved by the Peoria City Council, Peoria County Board, Village of Peoria Heights Board of Trustees, City of West Peoria City Council, Village of Bartonville, Village of Bellevue, and the Village of Mapleton.
IMPACT IF DENIED: Staff will not proceed with the application to amend the Peoria Urban Enterprise Zone boundaries.
ALTERNATIVES: None
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Grow Peoria: Businesses, Jobs, and Population
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Grow employers and jobs.
DEPARTMENT: City Manager's Office