MHT Assists City Redevelop a Vibrant New Downtown

Led by Dennis R. Triggs, a team of attorneys that included Michael J. Tibbs, Scott A. Brunton, Mark D. Walton, Christopher D. Oswald, and Joshua D. Herman of Miller, Hall & Triggs, LLC, Peoria Illinois, represented the City of East Peoria and assisted the City with redeveloping an 86-acre brownfield and former manufacturing site into a vibrant new downtown area, which has been designated as “The Levee District” of East Peoria. Miller, Hall & Triggs assisted the City with nearly every aspect of this new downtown project, including the acquisition of property, public financing through bond issues and related financing, establishing a Tax Increment Financing District encompassing the project area, establishing Business Service Districts within the project area for servicing the public debt obligations related to the infrastructure improvements, overseeing the bid letting and contracting stages of numerous infrastructure projects that totaled approximately $36 million, negotiating and completing numerous property acquisitions, and negotiating several development agreements with private developers, and an intergovernmental agreement with other local governmental units for the redevelopment of the project area.

While this project is ongoing, The Levee District formally opened for business in the Spring of 2013. Public investment in this project has exceeded $80 million, and private investment has exceeded $100 million. This project has brought Costco and Target to the retail portions of the project area, along with numerous additional restaurants, retailers, and businesses. Further, Morton Community Bank has constructed an impressive downtown banking center and office building, which is located near a new Holiday Inn & Suites. The project area also includes a state-of-the-art public library as a part of a new civic complex and outdoor plaza site, and an open concept allowing for easy pedestrian connection along with biking trails.

Besides working with the East Peoria City officials and staff, the Miller, Hall & Triggs team has worked with the State of Illinois, the U.S. Army Corps of Engineers, the Illinois Department of Transportation, the Illinois Department of Nature Resources, the Illinois Department of Revenue, the Fondulac Library District, the East Peoria Sanitary District, the East Peoria Levee and Draining District, private developers, and public and private lenders in the course of working on this broad and complex project.

Posted in Christopher Oswald, Dennis Triggs, Joshua Herman, Local Government and Public Finance, Mark Walton, Michael Tibbs, Real Estate