ACTION REQUESTED:
Title
Communication from the City Manager, Community Development Director and Finance Director/Comptroller with a Request to ADOPT an ORDINANCE Amending the CITY OF PEORIA 2019 REVISED BUDGET Relating to the Use of SOUTH VILLAGE TIF FUND BALANCE, in the Amount of $35,000.00, and the Use of the EAGLE VIEW TIF FUND BALANCE, in the Amount of $15,000.00, to Provide Funding for Studies, Surveys, Plans, and Professional Services. (Council District 1)
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BACKGROUND: City staff are currently in the early stages of developing a corridor plan for MacArthur Highway, from Jefferson Street to the MacArthur Bridge. Staff are also working on an implementation plan for the South Village, a future corridor plan for Western Avenue, and a development scenario plan for the Southern Gateway area. Currently, there is not sufficient staff capacity to complete these projects in a timely manner and with the final products necessary to provide clear guidance for future development. This request would allocate $35,000 from the existing South Village TIF and $15,000 from the existing Eagle View TIF balance to TIF eligible activities related to the development of these plans.
FINANCIAL IMPACT: The use of South Village Fund balance in the amount of $35,000.00 and the use of the Eagle View TIF Fund balance in the amount of $15,000.00 to provide funding for studies, surveys, plans, and professional services.
NEIGHBORHOOD CONCERNS: NA
IMPACT IF APPROVED: Funds will be available to assist in the development of various community plans.
IMPACT IF DENIED: Funds will not be available and the community planning process will not go forward as anticipated.
ALTERNATIVES:
EEO CERTIFICATION NUMBER:
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL'S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Grow Peoria
2. Beautiful Peoria
3. Safe Peoria
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMEN...
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