30-22 - Consultant to Conduct an Eligibility Report & Redevelopment Plan

The City of Peoria is looking to hire a consultant to study the eligibility of a proposed Tax Increment Financing (TIF) District, as shown on the map included in the RFP. 
Peoria has a population of 113150 (2020 Census). It is the second largest metropolitan area in Illinois, and boasts the second most densely developed downtown.  The City is considering the creation of a new TIF District to spur investment in blighted and/or struggling parts of the community. 

Medina Plains Allen Road Business Park 
The proposed study area  is generally bounded by North Brauer Road to the west, West Willow Knolls Road to the south, Allen Road to the east and Illinois Route 6 to the north.  Much of the land included is vacant land zoned I-1. There are approximately 47 parcels considered for this study area.  The area includes access to rail services and nearby access to route 6.  The ownership is of the parcels is largely private.  There are some utilities and some public infrastructure available in certain parts of the study area that are not available in other parts of the area.  A significant portion of the area is vacant and unused.  Please see Map A for an outline of the proposed area. 

The Consultant will develop all required studies and reports to establish the designation of the study areas as a TIF Redevelopment Project in accordance with Illinois State Statutes.