PEORIA - The city of Peoria is looking to create a policy for the use of sales tax incentives in special service areas.
SSA's serve as a financing vehicle for development activities within a defined area.
They allow cities to levy taxes in a certain area, rather than the entire municipality.
The city is considering creating an SSA for Westlake Shopping Center in order to bring in a Portillo's restaurant.
Westlake had a special service area created back in 2014 raising sales tax to help fund parking lot improvements.
Other SSA's include Peoria's East Bluff. Where the tax levy funds East Bluff neighborhood housing services.
A property tax levy in Weaver Ridge helped repay the cost of road infrastructure.
And in Junction City the SSA helps finance construction of the intersection at Prospect and Knoxville.
A combination of property taxes, sales tax, and hotel taxes, paid for the constructions of the Louisville Slugger sport complex and the Holiday Inn complex.
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