City of Peoria - File #: 14-213

• File #: 14-213
• Version: 2
• Name: Establish SSAs - Peoria Sports Center
• Type: Ordinance
• Status: Adopted
• File created: 5/19/2014
• In control: City Council
• On agenda: 10/27/2015
• Final action: 10/27/2015
• Title: Communication from the City Manager with a Request to ADOPT the following ORDINANCES Regarding the LOUISVILLE SLUGGER SPORTS COMPLEX: A. An ORDINANCE Establishing the PEORIA SPORTS CENTER PROPERTY TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois; B. An ORDINANCE Establishing the PEORIA SPORTS CENTER HOTEL TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois; C. An ORDINANCE Establishing the PEORIA SPORTS CENTER SALES TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois; D. An ORDINANCE Establishing the HOLIDAY INN PROPERTY TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois; E. An ORDINANCE Establishing the HOLIDAY INN HOTEL TAX SPECIAL SERVICE AREA In The City Of Peoria, Illinois; F. An ORDINANCE Establishing the HOLIDAY INN SALES TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois.
• Indexes: Goal 2 - Safe Peoria, Grow employers and jobs.

Date	Ver.	Action By	Action	Result
10/27/2015	2	City Council	adopted	Pass
10/27/2015	2	City Council	adopted	Pass
10/27/2015	2	City Council	adopted	Pass
10/27/2015	2	City Council	adopted	Pass
10/27/2015	2	City Council	adopted	Pass
10/27/2015	2	City Council	adopted	Pass
10/20/2015	2	City Council	deferred	Pass
10/13/2015	2	City Council	removed from the Table	Pass
10/13/2015	2	City Council	deferred	Pass
7/22/2014	1	City Council	tabled	Pass
7/8/2014	1	City Council	deferred	Pass
6/24/2014	1	City Council	deferred	Pass
5/27/2014	1	City Council	deferred	Pass

ACTION REQUESTED:
Title
Communication from the City Manager with a Request to ADOPT the following ORDINANCES Regarding the LOUISVILLE SLUGGER SPORTS COMPLEX:

A. An ORDINANCE Establishing the PEORIA SPORTS CENTER PROPERTY TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois;

B. An ORDINANCE Establishing the PEORIA SPORTS CENTER HOTEL TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois;

C. An ORDINANCE Establishing the PEORIA SPORTS CENTER SALES TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois;

D. An ORDINANCE Establishing the HOLIDAY INN PROPERTY TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois;

E. An ORDINANCE Establishing the HOLIDAY INN HOTEL TAX SPECIAL SERVICE AREA In The City Of Peoria, Illinois;

F. An ORDINANCE Establishing the HOLIDAY INN SALES TAX SPECIAL SERVICE AREA in the City of Peoria, Illinois.

Body
BACKGROUND: On February 11, 2014, the City Council approved the First Amendment to the Annexation Agreement (originally between the City, Chambers family and other third parties and dated September 7, 1999) that outlined certain zoning changes and financial commitments in regards to the Louisville Slugger Sports Complex. That agreement requires that the City create Special Service Areas (SSA) in conjunction with the construction and opening of the Sports Complex and Holiday Inn and Suites. The ordinances establishing the SSAs were tabled by the City Council on July 22, 2014.

An SSA is an economic development tool established by state law that allows municipalities to create defined geographic areas in which special services, such as conduit financing, can be provided. These special services are paid for by additional revenues generated exclusively by properties and/or businesses within the SSA. For this project, the City will use the SSAs to borrow $9.6 million through a general obligation bond, provide the proceeds of that bond to the Developer, allowing the Developer to construct the project. ...