The City of Peoria’s proposed $783M budget focuses heavily on creating 24 new full-time staff positions to better handle public service needs.
The City Council reviewed the Fiscal Year 2023 budget late last month. The grand total amounts to a 12.7% increase over the previous budget. The thematic structure of the spending plan centers around seven key livability issues:
- Public safety,
- Economic prosperity,
- Healthy neighborhoods,
- Integrated transportation,
- Arts, culture and recreation,
- Public services, and
- Smart growth.
Projects of interest to the development community include two new fire stations in the northern part of the city and various street maintenance, pavement management and transit option programs.
Under parks and recreation, Peoria plans to support multiple requests for park and community facilities enhancements. The Peoria Sports Complexwill also see $7M in improvements under the budget to replace parking that will be lost as Stadium Point expands and to construct two new sports fields.
The City’s capital projects budget for FY 2023 totals $286.5M. The 10-year CIP budget estimate is $1.1B.
Economic development initiatives to maintain and expand growth include public-private partnerships such as Pop-Up Peoria and the Smart City/Region Consortium, as well as business development support through the Small Business Development Center.
The City also maintains a neighborhood grant program to financially support resident efforts toward neighborhood enhancement. (Source)