Four Buildings Proposed for Redevelopment

The City Council approved the redevelopment agreement for these four buildings on September 22, 2009. These buildings are textbook for the need of TIF for redevelopment. Two of the buildings were derelict, with caved in roofs, and were scheduled for demolition. now they will be rehabilitated, helping to restore historic Peoria.









On Tuesday September 22, 2009 City Council will consider proposed redevelopment agreements for four buildings. The first three buildings face Washington Street. The drawing above shows the three buildings from the perspective of the alley between 401 Water Street and Washington Street. The buildings will be interconnected.


The other building under consideration is the Edgewater Building facing the Illinois River and 401 Water Street.


The four buildings total 66,800 square feet. Costs are estimated at $6,790,000.


These great redevelopments will help continue the ongoing efforts to revitalize and renew the Heart of Peoria. They will bring jobs and vitality to the area.

401Bridge-01h_0001b.jpg 1794K View Download

401Bridge-01h_0000b.jpg 2270K View Download

Agenda Date Requested: September 22, 2009 Action Requested: APPROVAL TO ENTER INTO A TIF REDEVELOPMENT AGREEMENT WITH HGI, L.L.C. AND AUTHORIZE THE INTERIM CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS. THIS PROJECT IS LOCATED IN THE CENTRAL BUSINESS DISTRICT TIF. (COUNCIL DISTRICT 1) Background: The Redeveloper plans to completely reconstruct three adjacent properties: 408 SW Washington Street is a four story 24,000 square foot former retail store and warehouse. The property will be reconstructed into a first class office building. Renovations to include but not limited to a complete reconstruction and bringing the building into compliance with governing body codes for accessibility, fire and structural safety. Estimated cost for complete renovations of this building are $1,800,000.00 412 SW Washington Street is one story 12,000 square foot former assembly, printing and warehouse building. The property will be reconstructed into a first class office building. Renovations to include but not limited to a complete reconstruction and bringing the building into compliance with governing body codes for accessibility, fire and structural safety. Estimated cost for complete renovations of this building are $1,600,000.00 420 SW Washington Street will be a new 10,800 square foot building inside the existing façade of a former retail store and warehouse building. The property will be reconstructed into a first class office building. Renovations to include but not limited to a complete construction and bringing the building into compliance with governing body codes for accessibility, fire and structural safety. Estimated cost for complete renovations of this building are $1,140,000.00 Financial Impact: HGI, L.L.C. is asking for a TIF Redevelopment Agreement with a 50/50 split of the property tax for the life of the TIF. Conservative estimates indicate property tax on the increment would result in a total of $979,480 over the life of the TIF with $489,740 going to the City for infrastructure improvements (Exhibit A). The property is located in the Enterprise zone and the company is eligible to receive the sales tax exemption on building materials that is estimated to be $181,600; the City’s portion being $56,750. NEIGHBORHOOD CONCERNS: There are no neighborhood concerns. Impact if Approved: The City will enter into a redevelopment agreement with HGI, L.L.C. which will provide them with an incentive to redevelop and renovate the property. The redeveloper will receive 50% of the property tax increment over the life of the TIF and the City will capture the remaining 50% of the property tax increment to utilize for infrastructure improvements. Impact if Denied: The City will not enter into the redevelopment agreement and the City will not capture the property tax for infrastructure improvements. Alternatives1: None EEO Certification Number: In Process RELATIONSHIP TO THE COMPREHENSIVE PLAN: This project assists in achieving both the vision and goals of the Comprehensive Plan as follows: Chapter 5 ECONOMICS--VISION: A HEALTHY, THRIVING ECONOMY; and GOAL: A.1. Provide an economic environment that supports existing and new businesses. A1.8. Consider providing public money to encourage private investment.

Agenda Date Requested: September 22, 2009 Action Requested: APPROVAL TO ENTER INTO A TIF REDEVELOPMENT AGREEMENT WITH IRON FRONT, L.L.C. AND AUTHORIZE THE INTERIM CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS. THIS PROJECT IS LOCATED IN THE WEARHOUSE DISTRICT TIF. (COUNCIL DISTRICT 1) Background: The Redeveloper plans to completely reconstruct the Edgewater Building. The structure is a two story 20,000 square foot former parking deck turned warehouse. It will be reconstructed into a first class office building with parking. Renovations to include but not limited to, a complete reconstruction and bringing the building into compliance with governing codes for accessibility, fire and structural safety. Estimated cost of complete renovation is $2,250,000. Financial Impact: Iron Front, L.L.C. is asking for a TIF Redevelopment Agreement with a 50/50 split of the property tax for the life of the TIF. Conservative estimates indicate property tax on the increment would result in a total of $882,591 over the life of the TIF with $441,296 going to the City for infrastructure improvements (Exhibit A). The property is located in the Enterprise zone and the company is eligible to receive the sales tax exemption on building materials that is estimated to be $90,000; the City’s portion being $28,125. NEIGHBORHOOD CONCERNS: There are no neighborhood concerns. Impact if Approved: The City will enter into a redevelopment agreement with Iron Front, L.L.C. which will provide them with an incentive to redevelop and renovate the property. The redeveloper will receive 50% of the property tax increment over the life of the TIF and the City will capture the remaining 50% of the property tax increment to utilize for infrastructure improvements. Impact if Denied: The City will not enter into the redevelopment agreement and the City will not capture the property tax for infrastructure improvements. Alternatives1: None EEO Certification Number: In Process RELATIONSHIP TO THE COMPREHENSIVE PLAN: This project assists in achieving both the vision and goals of the Comprehensive Plan as follows: Chapter 5 ECONOMICS--VISION: A HEALTHY, THRIVING ECONOMY; and GOAL: A.1. Provide an economic environment that supports existing and new businesses. A1.8. Consider providing public money to encourage private investment.

Economic Development Video

Nice web site and Video, Heartland. Way to go.

The Heartland Partnership family of companies is pleased to announce the release of "The Insiders' View -- Our Road to Recovery", a five segment video featuring U.S. Secretary of Transportation Ray LaHood, Caterpillar Chairman & CEO Jim Owens and The Heartland Partnership President & CEO Jim Owens. The video is being hosted on the Heartland Partnership's newly launched website.

www.heartlandpartnership.org

Sustainable Economic Development Plan

Sustainable Economic Development Plan

1^st draft - Your comments and improvements will be appreciated. Send to Craighullinger@gmail.com

            The Peoria Sustainable Economic Development Plan is part of the City Comprehensive Plan and combines economic development and environmental improvement. 

   “Leave your City better then you found it.” Scouting Principle

"Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”  United Nations

 

·         Revitalize older neighborhoods

·         Retain and expand existing businesses

·         Nurture and grow new businesses

·         Attract new investment and business

·         Create a Positive Image of the City

·         Increase the diversity of the economic base

·         Provide solid jobs at good wages

·         Build efficient buildings

·         Encourage the use of green roofs

·         Use recycled material in buildings

·         Recycle building material waste

 

·         Use passive solar orientation of buildings

·         Support quality construction for long lived buildings

·         Encourage mixed use development

·         Support walk to work programs

·         Permit live / work space development

·         Encourage development that supports transit

·         Incent the redevelopment of older communities

·         Incorporate bikeways and pedestrian paths

·         Require street trees

·         Encourage rain harvesting and irrigation

 

·         Support the use of natural landscaping

·         Support natural open space and parks

·         Improve municipal staff knowledge of “green” techniques

·         Use open surface natural drainage where feasible

·         Update codes to encourage “green” development

·         Design wetlands, drainage systems, retention and bio swales into parks

·         Support the local production of “green” technology equipment

·         Minimize pavement widths & cost & material

·         Encourage solar and wind energy systems

·         Encourage geothermal energy

 

More info below:

http://peoria.blog.com

http://www.greenpeoria.blogspot.com

http://sustainablepeoria.blogspot.com

http://greencitydevelopment.blogspot.com

http://peoriastrategy.blogspot.com/

Craighullinger@gmail.com  309 494 8640

Build the Block Retail

The City of Peoria is seeking a developer to create a quality commercial development to be colocated with our new multimillion dollar Build the Block development. The site faces Water Street, adjacent to the new Museum and Caterpillar Visitor Center. The site is in the Enterprise Zone and TIF District.

The drawing above is the most current site plan for the Block.  Retail areas are shown in RED.  

The Museum building is BLUE, and the Caterpillar building is YELLOW.  The balance of the parcel would be a pavillion park and circulation space with sculpture and landscaping.

The retail faces is on the southeast side of the two block site facing Water and Liberty Street.  The larger area is about 16,000 gsf, and the smaller area about 5,000 gsf.

Build the Block Web Site

http://buildtheblock.com

Market Research on Build the Block

http://buildtheblock.com/build-the-block-article.aspx?ArticleID=29

http://cityofpeoria.blogspot.com/2009/09/blog-post_8942.html

Fly Around

http://buildtheblock.com/see-the-block.aspx

Contact Craig Hullinger at 

hullingerc@gmail.com or 309 494 8640 

for more details.

Congress for the New Urbanism Illinois Conference

CNU Illinois 

(Congress for the New Urbanism)

3rd Annual

2009 Statewide Conference

October 8, 2008 

Plainfield, Illinois

 

Context Sensitive Street Design

How Illinois is Responding to the Challenges and Opportunities

 

1.     Learn the Design side of context sensitive solutions for urban thoroughfares

2.    Gain AIA Continuing Education and AICP CM credits

 

Program Schedule

8:00am – 8:30 am Registration Coffee, Bagels + Donuts

Morning

• Context Sensitive Street Design – A Design Primer
• Elgin will test the waters
• Plainfield Downtown Streetscape is a Walkable People Place

 

12 pm -1:00PM Lunch A Box Lunch is included with your registration

Afternoon

• Keynote Presentation:  “Big Streets Can Be Great Streets”

Thomas Kronemeyer AIA, Principal Community Design + Architecture, Oakland, CA

• Peoria’s Main Street Corridor Opportunity

• Workshop – Let’s Help Peoria - Study the 4 critical segments & intersections
• Presentation of Workshop Ideas (Moderator: John Barie)

 

After 5PM

Reception – Wine & Cheese Walk

• Experience downtown Plainfield, walk the streets, sample some wines and reflect on the day.

 

Conference Fees

Register online at www.cnuillinois.org

Online – in advance: 

CNU Members $70.00 / Non-members $85.00 / Students $10.00

At the Door: 

CNU Members $80.00 / Non-members $95.00 / Students $15.00

Cash or checks payable to CNU Illinois.  We do not accept credit cards.

www.cnuillinois.org

http://www.cnu.org/

Mayor Jim Ardis Budget Message

Having problems viewing this newsletter? Click here.

September 15, 2009 As many of you know, the City Council has been wrestling with our 2010 budget for several months now. We have been working to balance the City’s budget like you have to balance yours……. Identifying needs vs. wants and being more efficient with the income you have available. During this challenging economic situation, the process has not been easy. To this point, the City Council has already trimmed over $8.5 million dollars from next years budget. If sales tax revenue continues to come in below our expectations, it may be necessary to trim another $4 to $5 million to balance our budget. We’ve made significant reductions in our operating budget next year and identified over 40 positions that will not be filled throughout all city departments, including police and fire. In the coming weeks, we may find it necessary to lay off 20-30 more employees. This all equates to a drastic cut in service to our constituent taxpayers. During this process we have focused on being open and transparent. With this in mind I’d like to solicit your input as we move towards making final decisions on next years budget. This will not be a scientific poll by any stretch, but an opportunity to provide me with your thoughts on a few budget related questions. I will share your responses with the rest of the City Council and the City Manager. These are tough times but I am confident the City Council will make the right decisions to get us through this with the least amount of additional cost to you. And we hope to get this done with the least amount of job losses possible. Thank you for taking the time to respond. Feel free to pass this on to other concerned citizens. Please click here to take this short, 3-question survey Jim Ardis

Downtown Peoria Retail Study