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Pick 2 development moves forward; city projects peak cash outlays in FY27 and expects cash-positive by FY29
Summary
City staff said Pick 2 development (Peoria Innovation Corps) will see peak cash outlays in FY27, with multiple land transactions (including Amcor and a sale to Opus) underway; staff projects the business plan will be cash-positive by FY2029 and produce net revenue for the city and state land.
City staff presented the Peoria Innovation Corps (Pick 2) business plan to the council and outlined near-term transactions, infrastructure investments and a multi-year sales and financing plan.
Staff said Amcor’s transaction (104 acres) has a total value to the city of roughly $52 million after reimbursements and that the city approved a purchase and…
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