The article below is about the development.
The City is looking for a quality developer. See more information at:
The City gives back the sales tax on building material to the developer. The developer gets the total sales tax of all purchases made in Illinois, which is about 8% of the cost of the material. The cities portion of this is at most 2.5% of material, but usually less, since some items will likely be purchased outside of the City.
For this one time incentive, the city gets increased improved urban vitality, jobs, and increases in sales, utility, and property taxes. The other taxing bodies also benefit.
The spread sheet below illustrates the impact of a 5,000 square foot expansion of a retail center.
Responsibility July 17, 2008 2:30 p.m. EDT via Webcast
The American Planning Association and the U.S. Economic Development Administration’s (EDA) 30-minute broadcast will focus on the role of environmental sustainability and its impact on economic development. Green jobs, innovation, economic growth are all additional benefits to the environmental impacts that going green presents.
Tune in tomorrow to hear some real-world strategies for all those involved in planning and the economic development community. Please register at: http://edabroadcast.haverstick.biz/
Hosted By: Benjamin ErulkarU.S. Deputy Assistant Secretary of Commerce for Economic Development
Panelists Include:W. Paul Farmer, FAICP Executive Director and CEO, American Planning Association Tom DardenPresident, Cherokee Investment Partners
Ted WysockiPresident and CEO, Local Economic & Employment Development (LEED) Council (Chicago)
Nancy McKeeverI-PLACE3S/Sustainable Energy Program Manager, California Energy CommissionTo learn more about the partnership between APA and EDA, please visit: http://www.planning.org/eda/
Senior Outreach Associate
American Planning Association
1776 Massachusetts Avenue, NW - Suite 400 Washington, DC 20036
Direct Dial: 202.349.1010Fax: 202.872.0643
REQUEST FOR DEVELOPMENT PROPOSALS
July 9, 2008
The City of Peoria seeks proposals from qualified developers for the development of the Peoria Riverfront north of downtown. The City owned property fronts a beautiful lake measuring approximately 2.5 miles by 1.5 miles, a lineal park, and a bike trail. The south end of the property is anchored by downtown Peoria, I-74, and the Riverplex. The north end is anchored by the Detweiller Marina.
Background: City staffs have developed concept plans for the Peoria Riverfront. Staff gave numerous community presentations and held several charettes to get community input. Presentations were made to the City Planning Commission and the Heart of Peoria Commission and they approved the plans for the River's Edge Redevelopment Initiative, the Green Edge Plan, the River Trail Drive Plan, and the Cascade River Plan. All of the plans were reviewed and approved by city engineering and planning staff.
The Concept Plans begins with City owned land, as shown on the attached concept plan sketch. There are approximately nine city owned acres available for development. There is a substantial amount of privately owned land that could be added to the development. The plan is similar to the famous "Burnham Plan" in Chicago, with a lake shore drive and quality housing to help pay for it.
There is a strong demand for housing in and near downtown Peoria. Several market studies have been conducted with the most recent being completed by Tracy Cross & Associates, Inc. The Tracy Cross Residential Market Analysis indicated that there would be a demand for 194 new dwelling units a year in downtown Peoria.
Downtown Peoria is the second most densely developed downtown in Illinois after Chicago, boasting over 17,000 jobs. Many of the young professionals employed downtown have indicated a desire to live close to downtown jobs, the river, and the convention center. Employment in Peoria continues to grow with new jobs being created by Caterpillar, OSF Medical Center and Methodist Medical Center.
participation may include the following:
A favorable purchase price or transfer of real property at reduced cost
Enterprise Zone incentives
Possible Tax Increment Financing (TIF) Incentives
City’s Right to Reject Proposals
The City of Peoria reserves the right to reject any and all proposals received as a result of the Request for Proposals, or to negotiate in any manner necessary to serve the best interests of the City. If a minority and/or female owned small business is included, then a Business Plan for that small business must also be included.
Meeting / Inspection: City Staff invite interested parties to a presentation and a walk through of the site beginning at 1:30 pm at the One Stop Shop Planning Department offices on Mondy July 21, 2008. Developers may also arrange for a briefing at other times if desired. Submittals may be made until one is accepted and approved by the City Council.
Proposals or Questions should be sent to:
Bobby Gray email@example.com
Craig Hullinger AICP Hullinger@gmail.com
Economic Development Department
City of Peoria 419 Fulton Street, Suite 403 Peoria, IL 61602
Phone (309) 494-8642, Fax (309) 494-8650
SculptureWalk is a great program of bringing outdoor sculptures that area displayed all year in their downtown. Artists put their sculptures in the program for one year, and all sculptures are presented to the public for sale. Artists can win awards.
The Sculpture Walk Team are volunteers. It is a great way to promote art, and to bring people to the central city.
There are a number of programs to help first time homebuyers afford homes in Peoria. Banks have information on most of these programs. They are summarized on the page below:
Many of these programs could help attract artists to our city.