PEORIA, Ill. — The City of Peoria has received close to $1 million to complete renovations of the Tabor property at SW Adams and S. Lydia.
The $950,000 “Illinois Rebuild: Shovel Ready” grant from the state Department of Commerce and Economic Opportunity will be put towards demolishing a small building on the property and repairing a larger commercial building that will remain on the property.
The 5.40-acre property is located inside one of the Internal Revenue Service’s Qualified Opportunity Zones. A QOZ is an area inside an economically distressed community where some investments are eligible for certain tax provisions.
Peoria in May of 2020 received a $500,000 brownfield grant from the Environmental Protection Agency to be put towards cleaning up any possible contamination at the property.
