City of Pekin TIF Redevelopment Agreements Approved
SNH Investment, a real estate investment company operating within the Pekin area was also one of the Agreement recipients. Vice President Eric Hill states, "We are very excited for our approval of the new TIF loan. All of us at SNH would like to thank the City Council for their support. We look forward to utilizing these funds to help develop and grow our downtown community. Pekin is at the core of our business and we look forward to this new partnership with the city and are excited to bring a new business into our community."
The City of Pekin aimed to assist small businesses in this fiscal year. City Manager Mark Rothert says, “Small business is a cornerstone of any local economy. Monday’s action and leadership by the Mayor and City Council continues to show the City’s support and reinvestment into our business community.”
According to the City of Pekin's website, eligible expenses for developer reimbursement can include costs from architectural, engineering, legal, environmental, financial, planning, and other service needs. For more information about the City of Pekin Tax Increment Financing program, visit their website.