Under terms of a proposed deal between Peoria and the owners of the Par-A-Dice Casino Hotel, the city could get additional revenues if it drops its legal challenge to a planned redevelopment of the aging complex in East Peoria.
The city council will meet Monday at a special meeting where they will consider a plan whereby “the city of Peoria will receive a percentage of the reported adjusted gross revenue generated at the redeveloped facility. This is in addition to the gaming revenues generated through the
Intergovernmental Agreement between the city of Peoria and the city of East Peoria.”
In return, the memo states, City Hall has “withdrawn its objections to the Redevelopment Plan and the design for the facility therein.”
