ACTION REQUESTED:
Title
Communication from the City Manager with a Request for the Following:
A. ADOPT an ORDINANCE that Amends the PEORIA URBAN ENTERPRISE ZONE DESIGNATING ORDINANCE to Delete Parcels from the Peoria Urban Enterprise Zone, Amendment #5 (Council District 1), and
B. APPROVE an Amendment to the INTERGOVERNMENTAL AGREEMENT for the PEORIA URBAN ENTERPRISE ZONE.
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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 City of Peoria’s maximum allowable miles in the PUEZ is 10 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 5.71 square miles with 4.3 square miles available.
The City has identified two blocks within Peoria’s urban core and near the Illinois River to contain a number of historic structures that are targets for redevelopment. One block is bordered by Pecan St., S.W. Washington St., MacArthur and Adams St. The next block is bordered by Main St., Washington St. Fulton St., and Adams St. Within the two blocks are properties that may be eligible for the National Register of Historic Places. The parcels considered for deletion from the Peoria Urban Enterprise Zone will be added to the Rivers Edge Redevelopment Zone (RERZ) to be eligible for River Edge Redevelopment Zone (RERZ) state historic tax rehabilitation credit. The total square miles proposed for deletion is .012 square miles.
Attached is the Peoria Urban Enterprise Zone Amending Ordinance (Amendment #5) that includes the deletion of the City of Peoria proposed parcels and adds property off Cameron Lane, Peoria County, which meets PUEZ qualifications.
FINANCIAL IMPACT: N/A
NEIGHBORHOOD CONCERNS: A public hearing, as required by law, was held on Thursday January 10, 2018. There was no opposition.
IMPACT IF APPROVED: If approved, the proposed amendment and Intergovernmental Agreement will be presented to all participating jurisdictions to proceed with the formal amendment application to the State of Illinois.
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