ACTION REQUESTED:
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Communication from the City Manager with a Request to APPROVE the Commencement of the Process to Expand the Boundaries of the PEORIA URBAN ENTERPRISE ZONE to Include PARKWOOD COMMONS (formerly known as PIERSON HILLS), S. WESTERN AVE., AND BUTTERNUT BAKERY on LINCOLN ST. (Council Districts 1 and 2)
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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 City has designated 5.61 square miles in the PUEZ and has 4.39 square miles remaining for additional properties.
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. From the amendment, Peoria County's 4.55 square mile cap was reduced to provide square miles to the new units of government. The City of Peoria's designated PUEZ square miles were unaffected by the amendment.
Since the PUEZ inception, City staff has received requests to expand the City of Peoria's existing PUEZ boundaries to include properties scheduled for development and/or identified as staff areas that would benefit from additional incentives. For the past several years, it has been staff policy to first seek permission from Council to pursue expansions prior to beginning the formal process.
Following are proposed properties to be added to the PUEZ...
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