The Peru Mall TIF plan is now a reality.
The City Council approved a Tax Increment Finance district surrounding the 45-year-old mall at last night’s meeting.
Attorney Mary Riordan, representing mall owner GK Developments, says that all business options are on the table:
In addition to retail, Riordan says other potential developments include refurbished theaters and escape rooms.
The mall has lost its three main anchors and is currently 66 percent empty.