PEORIA, Ill. – A public hearing will take place this summer on a proposal to bring much needed repairs to downtown Peoria’s Twin Towers Place.
The city council approved establishing the July 14th meeting at Tuesday night’s meeting. There were zero “no” votes, but Councilmen Mike Vespa and Zach Oyler abstained over conflicts of interest.
The hearing is the first step in the process to establish a Special Service Area for Twin Towers Place. It came from a request through the homeowner’s association, which has had its funds depleted. City Attorney Patrick Hayes says a fire a few years back that led to required repairs to the fire protection and suppression system drained its capital.
The request is $2.5 million to cover capital projects at Twin Towers Place. The proposed projects include the structural repairs to the parking deck, exterior parking area paving, fire safety system upgrades, and electrical system upgrades.
The proposal calls for the funding to be issued in a 20-year bond that would be repaid via property taxes in the area.
The city council would be scheduled to vote on the SSA at its September 22nd meeting.
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