WHAT IS A BUSINESS DEVELOPMENT AND REDEVELOPMEN DISTRICT?
A Business Development and Redevelopment District, often referred to as a Business Development District (BDD) is a special financing program created by a municipality to encourage the development of new businesses in targeted areas of the community. This program enables municipalities to attract development on vacant properties and redevelop existing properties within a designated BDD Area. New business development will increase local services and amenities, increase employment opportunities, and increase sales and property tax revenues to the municipality and other taxing bodies.
For more information on BDD's click here. *Website courtesy of Jacob & Klein, LTD and The Economic Development Group, LTD
A public hearing was held on September 21, 2026, to advise the City’s intent to approve a Business District Redevelopment Plan and designate a Business District Redevelopment Area and subsquently adoped the following ordinance.
"AN ORDINANCE DESIGNATING AND APPROVING THE PERU BUSINESS DISTRICT NO. 1 AND IMPOSING A RETAILERS’ OCCUPATION TAX AND A SERVICE OCCUPATION TAX WITHIN PERU BUSINESS DISTRICT NO. 1"
BDD No. 1 Notice and Agenda for Public Hearing
BD Redevelopment Plan Sept. 2026
Ord. No. 7062 Approving Peru Business Dist. No 1-09-21-26
