ACTION REQUESTED:
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Communication from the City Manager with a Request to RECEIVE and FILE a Presentation Regarding the DOWNTOWN DEVELOPMENT CORPORATION.
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BACKGROUND: For the past six months, the City of Peoria and the CEO Council (a program of the Greater Peoria Business Alliance) have been working to create a Downtown Development Corporation (DDC). The DDC would be an independent, 501(c)(3) organization with a mission to champion development in downtown and the Warehouse District. The formation of the DDC was a key strategy recommended in the Warehouse District Implementation Plan, adopted by the City Council in April 2013. The CEO Council has taken the lead on its creation, including incorporating the organization, drafting and adopting by-laws, and spearheading fundraising efforts.
Cal MacKay of the Greater Peoria Business Alliance will provide a presentation to Council on the DDC and the next steps.
FINANCIAL IMPACT: The presentation will outline a strategy for increasing development and investment in Downtown Peoria. The City has been asked to be an investor in the organization and has allotted $100,000 per year for this in its 2014-2015 budget.
NEIGHBORHOOD CONCERNS: The DDC board will be comprised of a variety of stakeholders from the community.
IMPACT IF APPROVED: The presentation will be received and filed.
IMPACT IF DENIED: The presentation will not be received and filed.
ALTERNATIVES: None.
EEO CERTIFICATION NUMBER: Not applicable.
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL'S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Vibrant Downtown: Riverfront/ Central Business District/ Warehouse District
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Reinvest in neighborhoods.
2. Grow employers and jobs.
DEPARTMENT: City Manager's Office