ACTION REQUESTED:
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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 20...
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