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Peoria council sets Sept. 23 hearing on proposed Glen Hollow business district; two council members oppose process
Summary
The council set a public hearing for Sept. 23 on a proposed Glen Hollow business development district (BDD) that could allow a 1% business district sales tax to fund redevelopment. The agenda notice prompted debate over whether using a BDD is appropriate public policy; the motion passed with two no votes.
Peoria — The City Council scheduled a public hearing for 6 p.m. Sept. 23 on a request by property owners at Glen Hollow Shopping Center to create a business development district (BDD) to finance redevelopment and acquisition within the center.
Why it matters: A BDD is a statutorily authorized local mechanism that can impose a district sales tax (commonly up to 1%) to fund infrastructure, property acquisition, marketing or redevelopment within a defined area. Supporters say a BDD can help stabilize and modernize aging retail centers; critics say it shifts costs to shoppers and may amount to subsidizing private redevelopment.
What the council set: The hearing will…
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