On the Peoria City Council agenda for Tuesday night is this item:

ACTION REQUESTED: AUTHORIZE THE CITY MANAGER TO CONTRACT WITH HVS FOR UP TO $15,000 TO PROVIDE ANALYSIS AND CONSULTATION REGARDING DOWNTOWN HOTEL PROJECTS.

BACKGROUND: Since 2006, the City has worked with HVS to analyze potential hotel projects involving the Peoria Civic Center. This work included conducting a 2006 market study for a Hilton adjacent to the Civic Center at Kumpf and Jefferson and professional advice on the redevelopment agreement reached with EM Properties in December 2008. Currently, the City has contracted with HVS to conduct a market study of the most recent version of the Marriott Pere Marquette project at a cost of $7,500 [emphasis added]. (The City was able to work with HVS to reduce the cost of a full market study by agreeing to complete some of the local staff work.) That specific task will be concluded by April 30, 2010, but HVS’ expertise may also be required to analyze particular facets of the redevelopment agreement. The proposal from HVS to provide these services is attached.

HVS’ 2006 market study is available here. The most recent version of the downtown hotel project has a different design and fewer rooms, but at the same overall cost of $102 million. The developer is asking for $37 million in public assistance for the project.