PEKIN ( 25News Now ) - The Pekin City Council is willing to reimburse a developer up to $2 million in sales taxes in return for building as many as three new businesses on Court Street.

The council voted 6-1 Monday night to approve the redevelopment agreement. The city will return to JPG Commercial Real Estate 75% of sales taxes generated by the project, amounting to about $150,000 annually over the next 10 to 15 years.

JPG plans on building two structures on an acre of land in front of Menards in the Court Street Tax Increment Financing District.

One of the buildings will house a national beverage retail outlet and the other will be home to one or perhaps two restaurants with construction starting sometime next year, according to the city staff’s report.

Mayor Mary Burress said offi

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