The City of Pekin is considering a potential land swap with Randy Price to regain property the city council sold to him last year.
The no-cost deal would give Price land on the riverfront in exchange for his Court Street parcels. Last month, the city council rejected Price's request to move forward with construction of a 13,000-square-foot community gymnasium on the Court Street land, with detractors citing concerns about stormwater management and parking.
Price replied to a request for proposals (RFP) for the land on either side of Sabella Street between Front and Second streets (Route 29) that was posted to the city web site on Oct. 3. The property lies within the city's Court Street TIF District.
Price said his development would essentially be the same, just in a different location. He said the new land would have room for parking and a detention pond.
"I think it would solve a lot of problems that we have. I think it's a nice piece of ground for it," he said.
Price would need a zoning variance to allow for his son to live in an upstairs apartment. His proposal said the $3.5 million gym project would need city TIF funds and $500,000 in business development district funds, in addition to private bank financing. He envisions completion within the next two to four years if the city moves forward with the deal.
The other bidder last year for the Court Street property was Tazewell County. The county desired the property as part of its wider plans for a new Justice Center annex that also involves the controversial demolition of two historic downtown buildings.
