The map above depicts the five Tax Increment Financing (TIF) Districts in downtown Peoria. Most of the area is also in the Enterprise Zone. These powerful redevelopment tools are sometimes necessary to assist the redevleopment of older neighborhoods.The Southtown TIF is shown in red. This older TIF helped completely redevelop what was once a very deteriorated area. A new TIF assisted medical clinic is under construction on Main Street. But for the TIF, this clinic would have been constructed in a suburban area.
The Warehouse District shown in yellow is the newest TIF. This TIF should help revitalize this area of old industrial lofts.
More information at:
Warehouse www.warehousedistrict.blogspot.com/