A developer who wants to bring Portillo's to Peoria is going before the City Council Tuesday to make his case for a special tax zone.
Developer William Torchia said he secured an arrangement with the Chicago-based fast food chain to build a 9,000 square foot, 200 seat restaurant at 4401-4405 N. Sterling Ave. As part of the deal, Torchia will request a Special Service Area on his property which would implement an additional 1 percent sales tax on goods sold within the SSA.
Torchia said the tax money would reimburse him for the $1.3 million he spent purchasing the site and preparing it for construction. If the Peoria City Council approves the request before them Tuesday, a public hearing would be held on November 14 before a vote on the ordinance creating the SSA. The increased sales tax in the zone would go into effect January 1, 2018.
Portillo's is expected to open in spring 2018 in Peoria, according to legislation text in the city's council's agenda packet. The restaurant is anticipated to employ more than 100 people.
Peoria's Portillo's location would be the third downstate Illinois location to open. The chain opened locations in Champaign and Normal earlier this year.