Developer urges targeted enterprise-zone incentives to clear stalled lots
A retired builder told the county board that high infrastructure costs and long-marketed lots are blocking housing development and urged targeted enterprise-zone incentives; county staff noted statutory limits and low school-district participation that reduce abatement power.
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A retired home builder testified to the Peoria County Board that construction costs and stalled lot inventories are preventing new housing development, saying the economics make building new streets cost-prohibitive for many projects. "This is a $600,000 home that generates, between sales tax and property tax abatement, over $35,000 in value to that buyer," the speaker said, and urged the county to consider incentives to clear lots that have been on the market for years.
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