The Journal Star reports that the City is all in now. They’ve mortgaged the house to make their bet, and they believe they’re going to win big!
Just consider all the success they’ve had with gambles like this before. We have the beautiful Cub Foods on Knoxville that has revitalized the East Bluff and drawn patrons from Morton and East Peoria, as promised. We have One Technology Plaza, filled to capacity with high-tech companies employing hundreds and making Peoria the tech capital of the Midwest. And there’s Riverfront Village, just raking in the property taxes to pay for itself. And let’s not forget that sure-fire investment in Firefly Energy, the battery maker that is paying us dividends today.
And where would we be without the Peoria Civic Center? Just look at how it operates in the black every year and has spawned private investment all the way around the block, revitalizing downtown Peoria for generations.
Yes, I have full confidence that the downtown hotel project will be just as successful as the other wonderful developments the City of Peoria has gambled our tax money on in hopes that they would “pay for themselves.” What with the 360,000 people who will be coming to the museum starting this fall, and with all the people who are drawn to our own little Wrigleyville around the downtown ballpark, this should be a cinch to make us an even wealthier City.
We’re going to be rich, I tell you! Rich! Rich! Rich!