The East Peoria City Council Tuesday night put it's official stamp on bringing another business to the new downtown. Costco becomes the latest business to eventually settle in the city. The firm will pay East Peoria $1.5 million dollars for the land.
Costco joins Target as another large anchor help fill the 90 acre plot. Holiday Inn and Suites, Hometown Community Bank and Fondulac Library are also ready to build in early 2012. A Caterpillar Heritage Museum and new City Hall are also on the drawing board in the central district.
The council voted against raising the property tax levy at the same meeting. But, a new sales tax increase of up to one percent is likely to be enacted in the downtwon area within 2 years. East Peoria Mayor Dave Mingus says this continuing development will be an overall winner for the taxpayers of his city. Mingus spoke to WEEK News 25.
A Caterpillar Heritage Museum and new City Hall are also on the drawing board in the central district. City officials more development will likely follow.
