ACTION REQUESTED:
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Communication from the City Manager with a Request to ADOPT an ORDINANCE Amending the PEORIA URBAN ENTERPRISE ZONE to Include GALENA ROAD INDUSTRIAL PARK (6423, 6513, and 6522 N. GALENA RD.), VILLA BOURDEAUX APARTMENT COMPLEX (5250 N. KNOXVILLE AVE.), Former IDOT Site (6305-5831 N. KNOXVILLE AVE.), and BIG SHOTS (10000 N. ORANGE PRAIRIE RD.), and HUNT'S DRIVE-IN at 2027 W. FARMINGTON 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 (of the 15 square miles available to all jurisdictions).
The City has identified five locations within Peoria that have significant opportunity to develop, developer interest, and are qualified to be added to the zone. These locations were approved for application by City Council on January 8, 2019 and February 26, 2019 and was corrected to exclude the IDOT ROW site without PIN, which was approved.
Attached is the PEORIA URBAN ENTERPRISE ZONE AMENDING ORDINANCE that includes amended properties that meet the PUEZ qualifications and approved for application by their governing body as well as maps.
FINANCIAL IMPACT: Financials
NEIGHBORHOOD CONCERNS: A pu...
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