The City of Peoria is taking initial steps toward revitalizing West Main Street with the establishment of a Tax Increment Financing (TIF) district registry. Simultaneously, Peoria Township is moving forward with exploring the feasibility of a dedicated community senior center.
Main Street TIF District Initiative
The Peoria City Council has unanimously approved the creation of an interested parties registry for a proposed Main Street Tax Increment Financing (TIF) District. This initiative aims to spur economic growth and facilitate redevelopment along West Main Street, stretching from Monroe Street downtown to University Street near Bradley University.
City Manager Patrick Urich highlighted that the timing is opportune, citing recommendations from the Mayor’s Institute for Community Design and the Greater Peoria Leadership Council, as well as Bradley University’s ongoing campus development efforts. The registry will allow interested individuals and entities to receive information about the TIF process and potential benefits.
Key Takeaways:
- An interested parties registry for the Main Street TIF District has been established.
- The TIF district is intended to promote redevelopment along West Main Street.
- Public meetings and hearings will precede final council approval, anticipated by late August or early March.
Exploring a Community Senior Center
In a separate but related development, Peoria Township electors voted overwhelmingly in favor of forming an ad-hoc committee to study the potential use of township funds for senior citizen services. Peggy Jacques, founder and executive director of the Graceland Center for Purposeful Aging, emphasized the need for a senior services resource hub to support healthy aging and make Peoria a more age-friendly city.
While electors cannot directly establish a committee, their vote will place the matter on a future agenda for consideration by the township board. A request for a township tax levy for senior services has been deferred until the proposed committee completes its findings.
Additionally, the township board unanimously approved its annual budget for 2026-27 and a non-binding ballot question concerning Illinois pension code penalties for businesses boycotting Israel.
