Peoria council approves release of Exposition Gardens stormwater debt after heated debate; several consent items advance

Peoria City Council voted Dec. 9 to release the remaining stormwater debt owed by Exposition Gardens Incorporated after more than an hour of debate over fiscal prudence and practical collection prospects.

The council first considered a motion to deny forgiveness of the debt, moved by Councilmember Cyr and seconded by Councilmember Carmona, after council members raised concerns about accountability and the risk of setting a precedence of writing off debts for local nonprofits. Corporation counsel Hayes told the council the city had acquired the property through foreclosure, that a bank deficiency judgment of roughly $201,000 had been satisfied by the bank, and that stormwater lien amounts had exceeded $457,000 at an earlier point and had grown while foreclosure was pending. Hayes said the Exposition Gardens Authority appeared insolvent and that staff believed the debt was likely uncollectible.

Councilmember Euler argued that keeping the debt on the books would cost taxpayers more in ongoing legal fees and enforcement costs than writing it off. Councilmember Allen and others said the city had effectively taken possession of the land and that closing the chapter would allow both the city and the former property…