ACTION REQUESTED:
Title
Communication from the City Manager and Community Development Director with a Request to Approve the FA?ADE IMPROVEMENT PROGRAM for the WAREHOUSE DISTRICT and FIRST DISTRICT.
Body
BACKGROUND: City staff developed a Fa?ade Improvement Program encompassing two commercial corridors in order to improve the area's physical characteristics through the enhancement of the aesthetics and attractiveness of the commercial properties. These improvements will increase the community pride of the adjacent neighborhoods and encourage business recruitment and expansion in the area. The overall impact of the Fa?ade Improvement Program will further promote the area as a gateway into the City.
Eligible Properties
Warehouse District Fa?ade Program
* Property must be located in the Warehouse District TIF.
First District Fa?ade Program
* Property along Adams or Washington Streets from Western Avenue southwest to the City Limits.
* Property on Western Avenue, south of Dr. Martin Luther King Jr. Drive.
Property must be zoned for and operate under commercial, mixed-use or industrial. Eligible applicants will include owners of commercial property within the District. The businesses who are tenants of commercial buildings in the District are also eligible to participate in the Fa?ade Improvement Program, if the property owner's consent is shown in writing.
The Program will be funded by a 50/50 split between the applicant and the City of Peoria. The City's contribution (grant assistance) may not exceed 50% of the total cost of improvements to each property or five-thousand dollars ($5,000), whichever is less.
FINANCIAL IMPACT: Funding for both programs is included in the Community Investment Plan. Housing Solutions Demonstration Program, CIP project E14003, will fund the $50,000 First District Fa?ade Program. Warehouse District Fa?ade Program, CIP project T14004, will also fund $50,000.
NEIGHBORHOOD CONCERNS: Nei...
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