EAST PEORIA Ill. – East Peoria City Council unanimously approved plans to develop a new TIF district along the Illinois River, Tuesday night.
This new Riverfront TIF District will see development made on the corridor northeast of I-74 and northwest of state route 116.
East Peoria Mayor, John Kahl, says he’s excited about this new addition.
“Really this sets the stage for future development, I’m super excited to see this thing moving forward,” Kahl said.
The goal of the new district is to accumulate more property tax revenue, to pay for qualified redevelopment expenses in East Peoria.
Businesses within the new TIF District include the “Par-A-Dice Casino” and “Burger Barge” – among others.
The estimated cost for projects within the district is around one-hundred and fifty million dollars.
