PEORIA, Ill. – The home of the Heart of Illinois Fair could change owners next week.
The Peoria City Council is expected to vote on Tuesday to purchase Expo Gardens to develop residential housing in the area.
The close to 70-acres of land would be sold for $1,125,000, and release a lien on the property by the city of $457,770.54. There would also be an option for Expo Gardens to lease the property.
The city would use its land bank to acquire and market the property.
In documents provided to council members, the city states the residential development would be welcomed by neighbors, as well as Peoria Public Schools.
If the sale does not occur, Expo Gardens could face foreclosure.
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