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Council approves joint development agreement for Amcor site; city to fund and reimburse specific road segments
Summary
Council approved a joint development agreement with Vistancia and Amcor Technologies that commits the city to construct or reimburse certain roadway segments to support the proposed Amcor facility, with liquidated‑damage protections if the private project does not proceed.
The Peoria City Council on Oct. 15 approved a joint development agreement (31R) to build specified public infrastructure supporting Amcor Technologies’ planned facility in the Vistancia area, with the city voting 6‑1 in favor.
Deputy City Manager Mike Faust said the development agreement implements commitments the council previously made in an economic development agreement tied to Amcor. The action authorizes city construction and reimbursement for two road segments adjacent to the Amcor site — including the…
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