ACTION REQUESTED:
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Communication from the City Manager and the Community Development Director with a Request to APPROVE the Allocation of $280,000.00 to PEORIA CITIZENS COMMITTEE FOR ECONOMIC OPPORTUNITY (PCCEO) to Build Two New Construction Homes on BEHRENDS AVENUE as a Part of the Illinois Attorney General's National Foreclosure Settlement Funds. (Council District 3)
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BACKGROUND: The City is a team member of the Partners for a Better East Bluff. This partnership was created as a result of the $3 million dollar grant award from the Illinois Attorney General Office (AG) to Peoria's Local Initiatives Support Corporation (LISC) from the National Foreclosure Settlement funds.
Through the partnership, the City is able to provide various resources and assistance to accomplish neighborhood revitalization in the East Bluff, specifically in the East Village Growth Cell (EVGC) TIF. To date, the City has provided the following support to the Partners for a Better East Bluff initiative:
- Sold City owned, vacant land to Access Peoria, LLC for the development of new construction, rental duplexes. (Council Item # 14-432)
- Provided a HOME fund grant in the amount of $408,827 to Access Peoria, LLC for the development of new construction, rental duplexes. (Council Item # 14-434)
- Committed $50,000 in City Capital Funds for a down payment assistance program for the for sale units to be developed under the Initiative. (City Capital Budget Years 2014 and 2015)
- Through a subgrantee agreement with LISC that provided $170,000 in funding, demolished 20 properties in the EVGC TIF (Council Item # 14-431)
- Encouraged other City partners to develop in the EVGC TIF to support the Initiative. The City awarded $300,000 to Habitat for Humanity (a Community Housing Development Organization - CHDO) to build 3 new construction, single family homes in the EVGC TIF. (Council Item # 15-150 and 15-151)
- Approved $278,000 from the City's HUD HOME funds for the rehabilitati...
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