UPDATED 5:07 P.M.
PEORIA, Ill. – The rumors of things getting better between the Peoria Civic Center and the Peoria Rivermen may have been greatly exaggerated.
Peoria City Council Member Dennis Cyr told the Journal Star earlier this week he found a way to fund all the renovations the Civic Center needs, including a new ice plant, and that would keep the Rivermen here “for years to come.”
Late Friday afternoon, Peoria Mayor Rita Ali issued a statement saying that talk of a deal has been premature, and no agreement has been reached.
Ali says the Civic Center Authority can’t levy its own tax to pay for such work, indicating that only $25 million in state grants have been given to the Civic Center, but there’s a total of $47 million of proposed work.
Ali says there are some other options the city is looking at, including issuing bonds through the city’s Hotel, Restaurant, and Amusement Tax.
BELOW IS THE FULL STATEMENT FROM MAYOR RITA ALI:
Comments about an agreement being reached between the Peoria Civic Center Authority, the Peoria Rivermen, and the Peoria City Council were premature. No final deal has been reached.
The Peoria Civic Center Authority does not have the ability to levy taxes, so they are reliant upon program revenues from the Civic Center and Hotel Restaurant and Amusement Taxes to fund operations and capital expenses. The Civic Center has $47 million of unmet capital needs as identified by their Capital Committee.
The State of Illinois recently granted the Civic Center Authority $25 million for capital improvements, but more capital needs remain to be funded. The city has been exploring options to assist the Peoria Civic Center with their capital needs, including the ice plant, through additional bonds paid from Hotel, Restaurant, and Amusement Taxes.
Any agreement for additional debt financing requires the approval of the Civic Center Authority and the Peoria City Council. The Civic Center Authority will meet next week and the City Council will discuss this matter on February 28. At the same time, as the Civic Center capital needs are addressed, the Civic Center Authority and the Peoria Rivermen will need to negotiate a new lease. That lease is not, and should not be, the responsibility of the City. We expect the two parties to negotiate reasonably and in good faith.
The Mission Statement of the Peoria Civic Center Authority includes the following statement:
We will be a catalyst for improving the quality of life and economic vitality in our area by hosting diverse events that are enjoyed and supported by all segments of the general public.
The Peoria Rivermen contribute to the quality of life for community members and visitors in the City of Peoria and Greater Peoria alike.
