A new program will help homeowners on Peoria’s East Bluff pay for home improvement work. The city council approved the new grant program last week:
The program starts next year and lets qualified homeowners dip into thousands-of-dollars from the East Village Growth Cell Tax Increment Financing, or TIF, district. Third District City Councilman Tim Riggenbach says that means East Bluff homeowners can get up to $15,000 to help with various projects:
“It could cover basically half of the investment of a project that one of these homeowners would do on their house. If they need a new roof, if they need siding, if they need new H-VAC equipment.”
Riggenbach says the goal is to boost home buying in the East Bluff and mimic economic incentives usually given to businesses. People can start applying for the program starting in January.