TIF Districts

A development incentive aimed at helping East Peoria pursue growth along the Illinois River is now formally in place.

East Peoria Mayor John Kahl shared an optimistic vision for the city’s next few years Friday, albeit while speaking at a venue with an uncertain future. Kahl delivered his annual State of the City address from the banquet room at the Par-A-Dice Hotel Casino, steps away from the riverboat gambling attraction that parent Boyd Gaming is looking to replace.

The East Peoria City Council took several more steps Tuesday night toward making a Riverfront TIF district a reality.

With owner Boyd Gaming preparing plans for a new gambling facility, Peoria city leaders have taken steps to make sure any land-based casino is located within their city’s boundaries. But what does this mean for East Peoria?

The city of Delavan in southern Tazewell county is making a reinvigorated push to revitalize its historic downtown corridor.

East Peoria Mayor John Kahl says he’s committed to making sure the city maintains a welcoming atmosphere for businesses, and that’s a big reason behind the move to establish a TIF district along the Illinois River.

Peoria is on track to create two new tax increment financing districts aimed at facilitating economic growth, after language in one of the proposals was modified to address environmental concerns.

City Manager Patrick Urich said the work to upgrade the pavement and sidewalks between Nebraska and McClure is expected to take around a year and a half.

Residents and advocates concerned about how a potential new TIF district might impact Peoria’s Southside want city leaders to keep environmental and racial justice and equity factors in mind.

The City of Peoria has several active tax increment financing (TIF) districts, established to facilitate projects aimed at building the tax base and bolstering the city's economy. But do TIFs really work the way they’re intended?