PEORIA, Ill. — A plan seems to be on track for approval by Peoria City Council to give the Civic Center $20 million dollars for capital improvements.
Dozens of Peoria Rivermen Hockey fans were at Tuesday’s city council meeting and cheered like they were in the stands after they heard the city is ready to give the Civic Center $20 million in city-backed bonds.
At just over 40 years old, the Civic Center needs $45 million for improvements like a new ice plant, roof, and heating and cooling system. The new ice-plant is an essential part of keeping the Rivermen in Peoria.
They already got a $25 million grant from the state.
The Civic Center relies on the city for additional funding because it cannot issue bonds or levy taxes.
Tuesday evening, council agreed the Civic Center was a vital asset to the city and they would like to keep the Rivermen in Peoria.
However, there were questions about getting the bonds paid off.
“I do have concerns about obligating this council for 20 more years of a really high amount of debt. After we pay off the current debt service, our obligation will be $1.9 million,” said At-Large Council Member Beth Jensen.
According to 25 News, the vote to approve the $20 million is expected for their next council meeting in March.
Now, the question is whether this plan will prove to be enough to get venue managers and the team talking about a lease extension for the Rivermen Hockey Team.
