The City of Peoria is looking for a few good developers to redevelop our historic core. We offer public private partnerships that provide Federal and State historic tax credits of up to 45% of investment, TIF reimbursements and infrastructure improvements that can approach 60% of new fair market value, and an enterprise zone with no sales tax on building material.
Market Research by Tracy Cross estimates that we can build nearly 200 units a year in and near our downtown. Our economy is strong and interest rates are still low. Now would be a good time to move forward with a development in the Heart of Peoria.
The $200 million dollar Build the Block project is now complete and the new CAT Visitor Center and Museum open. The $93 million dollar Per Marquette Hotel is just reopened and the adjacent Marriott Courtyard hotel under construction. We are spending $30 million dollars on attractive new urban streets. CAT is planning a major new Corporate Headquarters.
I will be glad to discuss this with in depth at your office or in Peoria. More scoop on