Tazewell County’s former administrator is now heading a newly-formed downtown development group in Peoria. Mike Freilinger is the first president for the non-profit Downtown Development Corporation. The group aims to boost investment in Peoria's downtown and warehouse district. He says one goal is to fill the funding gap between fixing-up a building and making the rental costs affordable:
“Layered financing that helps to cover that gap is one of the things that we’ll be looking at doing. We’ll be working with developers, the city and major partners, probably be pursuing grants as well to offset those costs. If we can lower the costs of rehabbing, then they can be competitive from a rental or sales pricing point,” Freilinger says.
Freilinger left Tazewell County in April. He also was county Administrator Polk County, Iowa. Downtown Development Corporation’s members include appointees from the city, Caterpillar, area hospitals and other business officials.