PEORIA, Ill. (WMBD) -- The Peoria City Council took its first steps to create two proposed Tax-Increment Financing districts during Tuesday's meeting.

The council unanimously approved both the establishment of the Adams/Liberty and Northwoods Mall TIF districts and establishing a date for public hearings to discuss the districts.

TIF’s, are a way for local governments to incentivize development in areas the city sees as in need of it. This is done by freezing the property taxes that are distributed to local taxing bodies and any incremental growth in the property tax revenues can be used by businesses to pay for qualified redevelopment expenses.

The district near Northwoods Mall would include areas along Brandywine Avenue, Glen Avenue and parts of Sterling Avenue, as well as some parcel

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