Discussion and possible action to: (a) authorize the City Manager to enter into a real estate purchase agreement for the property located at 10857 North 95th Avenue and (b) approve a budget amendment in the amount of $2,000,000 to advance funding in the adopted Capital Improvement Program from Fiscal Year 2026 to Fiscal Year 2025.

The City has identified the property at 10857 N. 95th Ave as a strategic acquisition to support several critical Peoria Police needs.  The Peoria Police Department is in need of space for evidence storage, vehicle impound storage, forensic analysis and processing of vehicles, storage of specialty vehicles, as well as tactical training.  This property can accommodate all these needs while saving the City approximately $17M in the CIP. The purchase price has been negotiated at $11M, and the acquisition will be funded through already budgeted CIP dollars (a combination of general funds and general obligation bonds).

Staff recommends that the City Council approve the resolution to enter into a real estate purchase agreement for the property identified above and a budget amendment in the amount of $2,000,000 to advance funding in the adopted CIP from FY2026 to FY2025.

The four separate projects in the adopted Capital Improvement Program (CIP) that will be housed in this facility are funded through a combination of general fund cash and general obligation bonds. The savings achieved by purchasing this property will reduce the amount of general obligation bonds needed for this project, which will preserve the city’s limited remaining voter authorization for public safety.

The four separate projects will be combined into a single project if this action is approved and the purchase moves forward.