City of Peoria notice I received today:

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1k+3.7 yrs
~ 5 days ago

City of Peoria notice I received today:

Got a notice of Public Hearing, "Peoria West Main Street TIF District," notice that says:

In accordance with the Illinois Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74-4 et.seq.) the City of Peoria, Peoria County, Illinois, hereby gives Notice to all residential addresses that, after a good faith effort, the municipality has Main Street Tax increment Financing (TIF) District Redevelopment Project Area or the availability of the draft Redevelopment Plan and Qualification Report.

On June 9, 2026, the City of Peoria adopted an Ordinance establishing a Public Hearing to be held at 6:00 p.m. Central Time on August 11, 2026, at the Peoria city Hall, 419 Fulton St, City Council Chambers, Peoria, Illinois to consider the proposed West Main Street TIF District Redevelopment Project Area, Plan and Projects. A copy of the proposed Redevelopment Plan and Qualification Report is available at Peoria City Hall, 419 Fulton St, Peoria, Illinois, for examination during regular office hours, Monday through Friday from 8:00 am to 500 pm. for more information, please contact Kimberly Richerson, Assistant City Manager, at (309) 494-8618.

Tax Increment Financing in Illinois establishes a geographic boundary (i.e., TIF District) within which the municipality's ability to make public improvements and encourage new private investment is enhanced. It should be noted that Tax Increment Financing DOES NOT raise taxes, create a new tax or a new taxing district.

Stefanie Tarr, City Clerk

I was wondering what this is about, and was told, "Pres Shadid has been working with the City to get the West Main corridor a TIF district with the objective being to develop/improve Main St from the hospitals up to campus." Anyone else know any details about this?