Peoria Standard

City of East Peoria City Council met Feb. 4.

Here are the minutes provided by the council:

“PUBLIC HEARING ON THE PROPOSED EAST PEORIA RIVERFRONT REDEVELOPMENT PROJECT AREA (NEW EAST PEORIA RIVERFRONT TIF DISTRICT).”

Motion by Commissioner Decker, seconded by Commissioner Mingus; Mr. Mayor, I move that the City Council recess the Regular Meeting to hold a public hearing.

Yeas: Commissioners Decker, Hill, Mingus, Sutherland and Mayor Kahl.

Nays: None

Mayor Kahl declared the motion carried and the Regular Meeting recessed to hold a public hearing at 6:02 P.M.

Those present were the following: Mayor John P. Kahl, Commissioner Daniel S. Decker, Commissioner Mark E. Hill, Commissioner Seth D. Mingus, and Commissioner Michael L. Sutherland.

Absent: None.

Mayor Kahl called the Public Hearing to order with proper notice having been given. Mayor Kahl explained the purpose of the public hearing to hold the public hearing is to receive comments on the proposed East Peoria Riverfront Redevelopment Project Area (New East Peoria Riverfront TIF District). Mayor Kahl turned the discussion over to Ty Livingston, Director of Planning and Community Development. He explained that this presentation was presented to the Tax Increment Financing Joint Review Board. The City has a great track record for using Tax Increment Financing (“TIF”) Districts in the past including at the Marina, Levee District, and around Camp Street. One of the goals since the Bass Pro development was to continue the extension of Bass Pro Drive. The City extended the TIF district beyond the former Burger Barge Property. City Attorney Scott Brunton explained that a TIF District is – (1) municipalities use tax increment financing (TIF) to achieve a level of community and economic development for under-developed and under-utilized properties; (2) TIF is most important and most commonly used local economic development tool available and (3) “Tax Increment” is the difference between the property tax revenue generated before and after the TIF District designation. It captures money and reinvests it in the TIF District. Director Livingston commented on East Peoria’s current active TIF districts that are West Washington Street TIF and the Camp Street TIF. He also discussed the advantages of the TIF that includes (1) TIF revenues: Public Infrastructure improvements; (2) Development/redevelopment Agreements (Approved by City Council); (3) Site Assembly & Marketing; and (4) Additional Legal Authority for City.

City Attorney Brunton discussed the legal requirements and procedural aspects for creating the TIF District. A map was shown and explained of the Proposed East Peoria Riverfront TIF Boundary.

City Attorney Brunton explained and commented on Legal requirement regarding Qualifications Factors. He explained that vacant portions of the Project Area qualify as “blighted” based upon a finding that at least 2 required factors for vacant land are present: (1) Obsolete platting and (2) Lack of growth in EAV. Additional “blighting” factor found: project area contributes to flooding. He explained they then looked at the improved parcels and how the area is found to qualify under the criteria. He commented on updating the comprehensive plan currently. He explained that all factors are found to be present.

Director Livingston commented on the lack of growth in EAV and on other TIF District Criteria, including (1) it consists of 24 contiguous tax parcels (totaling 375 acres), (2) contains no residential structures, (3) TIF Plan & Project supports City’s development strategy, and (4) meets the “Buf-For” TIF requirement. City Attorney Brunton explained that if any properties were residential then there would be other processes. However, that does not need to be done because there are no residential properties in the boundaries. He explained the “But For” TIF requirement.

Director Livingston commented on Key Elements of the TIF Plan and Project that include (1) proposed land use: mixed use, including commercial, residential condominium/multi-family; (2) Total estimated Project Costs are $150.250.000 which includes infrastructure like roadways, curb, gutter, sewer and water mains, bridge across Farm Creek diversion channel, and pedestrian/biking accommodations, where feasible; and (3) Estimated EAV increase for the project area is $50,884,240.

City Attorney Brunton explained that this also allows the City to show the State that it seeks to develop the area and seek assistance from the State. He discussed the timeline for the East Peoria Riverfront TIF.

Director Livingston summarized that this continues the city’s efforts to promote beneficial economic development and growth; redevelopment of under-utilized property; provide revenues for financing public infrastructure improvements for the city; improved access to the Project Area and adjacent areas; and no meaningful adverse impacts on Taxing Districts. There was a concept drawing showing connectivity from Bass Pro to Main Street. Mixed use was shown along the riverfront and in proximity to the interstate.

Mayor Kahl asked for any comments from the audience.

Sally Newkirk came up to the podium. She explained that she lives across from the old Burger Barge. She inquired as to how many stories high the condo would be. Director Livingston explained that the concept that was shown contemplates one or two stories.

Madeleine Decker came up to the podium and explained that she lives on N. Main Street across the street. How many access points from North Main Street into the TIF district. Director Livingsot explained that the primary connection would be from Bass Pro. He explained that there are already other access points. There may be frontage road and likely utilizing an access point that is already there. Ms. Decker also inquired as to whether the TIF District will still be done whether or not the Par-A-Dice is there. Director Livingston explained that there are several other properties located in the TIF District and that it will move forward.

Mayor Kahl asked for any other comments from the audience. There was no response. Mayor explained that people can still provide input and ask questions until the ordinance is adopted. Mayor Kahl asked for any comments from the City Council. There was no response.

Motion by Commissioner Decker, seconded by Commissioner Mingus; Mr. Mayor, I move to adjourn the Public Hearing and reconvene the Regular Meeting.

Yeas: Commissioners Decker, Hill, Mingus, Sutherland and Mayor Kahl.

Nays: None

Mayor Kahl declared the motion carried and the Regular Meeting reconvened at 6:25 P.M.

https://www.cityofeastpeoria.com/AgendaCenter/ViewFile/Item/7323?fileID=35988