PEKIN, Ill. (WMBD) — Pekin city council held a public hearing to consider its proposed approval of the Pekin Business Development District No.1 plan and the designation of the proposed business district redevelopment area Monday.
Pekin city manager Mark Rothert said this was the third meeting and the second public hearing about the Business Development District.
The business development district is a special taxing district that municipalities in Illinois can set up for local improvement and provide incentives to business owners in that area.
The district would allow the city of Pekin to apply an additional one percent tax on retail sales and an occupation tax.
One new addition to the plan mentioned during the meeting that Pekin Council would be able to apply up to a one percent tax applied to hotel operators.
The city would be able to use the money raised in the district to help improve infrastructure. It can also offer incentives for new businesses, as well as help retain and expand local businesses.
The vote on the plan will go before Pekin city council on Nov. 9.
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