Pekin’s City Council approved $104,000 in tax increment financing grants for three businesses planning renovations or moves in the city. The awards will support a wealth management firm, a resale shop and a day spa, with each grant requiring a separate agreement and final council approval. The vote was 6-1.
Key takeaways
- Nash-Hasty Private Wealth Management was awarded $47,500, Ewe’s Treasures Resale Shop $35,500 and Sculptures Day Spa $21,000.
- The businesses’ projects are planned for Court Street addresses.
- Council member Rick Hilst voted against the grants; Dave Nutter supported them but questioned whether applications were complete.
Grants support three business projects
The council approved the grants Monday for Nash-Hasty Private Wealth Management at 531 Court St., Ewe’s Treasures at 901 Court St. and Sculptures Day Spa at 2810 Court St. The city will prepare a TIF agreement for each business, and the council must approve those agreements.
Nash-Hasty founder and owner Todd Hasty, a lifelong Pekin resident, plans to move the firm from 1605 W. Candletree Drive in Peoria to downtown Pekin. The building at 531 Court Street was previously occupied by Deverman Advertising and Photography by Deverman.
Ewe’s Treasures, whose sales support Good Shepherd Lutheran School in Pekin, received $35,500. Sculptures Day Spa received $21,000 and plans to relocate from 101 N. Fourth St. in Pekin.
Council members raise application questions
The grant vote passed 6-1, with Hilst casting the sole opposing vote. Nutter voted in favor but said one application was largely blank and questioned whether applicants should be required to complete every section. Economic Development Director Josh Wray said some projects do not have costs that fit the application’s listed line items.
The awards were the second round of the city’s commercial building improvement grant program. Pekin’s 2026-27 budget sets aside $200,000 for the program. The first round awarded $146,000 to six businesses, but one business declined a $50,000 grant, leaving $104,000 available. In a TIF district, new tax revenue generated by a project is directed back to a designated redevelopment area.
Council approves other development requests
Council members also approved a special-use permit for Sarbjit Singh to renovate the former Save-a-Lot at 1105 Derby St. and turn it into a laundromat and convenience store. A separate permit allows Pekin Ford to operate a new and used car dealership at 2200 and 2130 N. Eighth St. The dealership is being acquired from Gallery Ford; the permit covers outdoor vehicle display and sales in the B-3 district.
JPG Commercial Real Estate of Peoria has withdrawn from plans to buy city-owned property in front of Menard’s on Court Street because of the owner’s health issues. The city said a retailer interested in building on the property is now handling the real estate and TIF agreements. The deadline to purchase the property remains Dec. 14.
