Lewistown

Lewistown, IL · Real Estate
familydestinationsguide.com
springfieldbusinessjournal.com
Journal Star
Property taxes will be raised at Downtown Peoria building for repairs
PEORIA — Downtown Peoria's Twin Towers Condominiums will be the recipient of a city-backed loan proposal to help fund needed repairs to the buildings. The Peoria City Council on Tuesday night approved a plan to raise property taxes on residents of the Twin Towers Condominium Association to repay a $2.5 million loan that will be given to the towers via a private loan from a banking institution. A deal with a private institution is still being worked out to back the loan, city officials said Tuesday. Peoria's involvement in the plan consists of collecting the property taxes via a special-service area. More: Proposal to increase taxes at Peoria condo building set for hearing The money loaned to the Twin Towers will be used to make much needed repairs to the buildings' parking garage, roof, HVAC, electrical and fire suppression system. The complex does not have the cash on hand to make the repairs itself. The Twin Towers opened in 1984. To repay the loan, the property taxes of residents at the towers will be increased. The extra property tax fee levied would not be allowed to exceed $2.75 of every $100 of equalized assessed value. The deal runs through 2046.
wcbu.org
Pekin looks to acquire property for $3 million Broadway Street project
A road and sidewalk rehabilitation project on Broadway Street in Pekin funded by a $3 million state grant is expected to begin next year. Before that happens, the city needs to purchase about 40 pieces of property and easements, or obtain temporary easements, so required infrastructure work can be done.
The Register-Mail
wglt.org
Investors funding developments in parts of northwest Normal, Uptown and Downtown Bloomington will get a tax break starting in 2027
It’s expensive to build right now and while there are multiple reasons why, cost continues to be one of the biggest hurdles to overcome. Bloomington-Normal’s Economic Development Council [EDC] is hopeful a new federal program giving tax breaks to investors will be yet another incentive to get developers building.