City of Pekin Council Meeting Minutes March 2026
TIF Agreement for 114 Edds Street Rehabilitation Approved
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Description
Pekin City Council approved a TIF Redevelopment Agreement with DCTA Properties, LLC for rehabilitation of 114 Edds Street. The agreement provides up to $30,000 in incentive reimbursement.
Contract Details
Contract Amount
Up to $30,000 (50% of TIF-eligible renovation costs)
Vendor
DCTA PROPERTIES LLC
Agency
City of Pekin city, IL
Contract Type
OTHER
Document Date
March 9, 2026
Contract Term
Subject to five-year sale profit provision and ongoing compliance
Renewal Info
If sold within five years, City recoups incentives based on profit; property must remain program-compliant.
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