ACTION REQUESTED:
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Communication from the City Manager with a Request for the Following:
A. ADOPT an ORDINANCE that Amends the PEORIA URBAN ENTERPRISE ZONE DESIGNATING ORDINANCE to Delete Parcels from the Peoria Urban Enterprise Zone, Amendment #5 (Council District 1), and
B. APPROVE an Amendment to the INTERGOVERNMENTAL AGREEMENT for the PEORIA URBAN ENTERPRISE ZONE.
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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 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 5.71 square miles with 4.3 square miles available.
The City has identified two blocks within Peoria's urban core and near the Illinois River to contain a number of historic structures that are targets for redevelopment. One block is bordered by Pecan St., S.W. Washington St., MacArthur and Adams St. The next block is bordered by Main St., Washington St. Fulton St., and Adams St. Within the two blocks are properties that may be eligible for the National Register of Historic Places. The parcels considered for deletion from the Peoria Urban Enterprise Zone will be added to the Rivers Edge Redevelopment Zone (RERZ) to be eligible for River Edge Redevelopment Zone (RERZ...
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