City HallWednesday, November 11
Peoria's City Council was asked to start a STAR Bond District around Northwoods Mall
The Daily Peoria team
The council was asked Tuesday night to approve a measure that would begin creating a STAR Bond District around the mall property. City Manager Patrick Urich said it would make the master developer, mall owner Summit Properties USA, eligible to use state sales tax revenue to help with development costs. The district would overlay the mall's tax increment financing district created earlier this year, only on the mall footprint.
$60 millionannual revenue Urich believed a development must reach
Once a development hits the threshold, it becomes eligible for reimbursement by the state, Urich said.
Source: Central Illinois Proud
Tuesday's vote would be just the first step. As with a TIF, the process needs public notice, a hearing and then a vote. Also on the agenda: final approval of a bigger district near the mall, and a micromobility ordinance for e-bikes and scooters. Separately, a storefront at the mall has shuttered as part of an "ongoing transition" for its parent company.
- Public hearing: Dec. 8 at City Hall
- Micromobility rules: state law takes effect Jan. 1, 2027
- District expansion: Glen Avenue down Sterling Avenue to Newman Parkway
Only Normal and Peoria have applied for a STAR district
2 of 3
- applicants so far: Normal, Peoria
- 1 left of the three the state allows
Source: Central Illinois Proud
View as table
| Count | Share | |
|---|---|---|
| applicants so far: Normal, Peoria | 2 | 67% |
| left of the three the state allows | 1 | 33% |
Sources: Central Illinois Proud, Peoria Journal Star