The Journal Star reports that East Peoria taxpayers are having trouble getting their money back from Gary Matthews. He borrowed $150,000 from the city in 2007 to help him build the hideous monstrosity we know as GEM Terrace. He’s been paying that money back, but not exactly on time. He owes $24,862 in late payments.

The City of Peoria isn’t going to let that happen to taxpayers here. When Matthews finally builds The Wonderful Development, Peorians won’t have to worry about him making late payments. Why? Well, because the City isn’t loaning him any money. They’re planning to give him $37 million ($9 million of which will go directly into his pocket as a “developer fee”) as a grant. No repayment necessary. Aren’t we clever? While all the citizens have to check out HardMoneyLendersBoston.com and beg for payday advances and loans, Matthews continues to bumble about.

Matthews’ inability to hit deadlines has actually worked to Peoria’s advantage. We haven’t had to sell the bonds yet to come up with that $37 million because the Wonderful Developer has been unable to get the project started by the dates required on either of the redevelopment agreements he inked with the City in 2008 and 2010.

I, for one, hope Mr. Matthews continues his deadline-missing ways. It’s saving the taxpayers here a lot of money.