The City of Peoria is considering a funding plan to help the Twin Towers Place condominiums pay for needed repairs and renovations. 

But City Manager Patrick Urich points out that no money has been allocated quite yet. Rather, the city may look to establish a special service area to generate the funds.  

Urich notes Peoria has used special service areas elsewhere in the city to assist with needed improvements or added services - such as around Junction City, the Louisville Slugger sports complex, and the Westlake and Grand Prairie shopping centers. 

He says the Twin Towers condos may not have streets to maintain, but they are a "vertical neighborhood" that merits similar consideration for financial assistance. 

Urich says any up-front money provided by the city would be paid back entirely over time ... and Peoria's financial risk would be minimal. 

In part two of our latest regular interview, Urich tells reporter Joe Deacon how the special services area process would work for funding the Twin Towers renovations ... noting the buildings had a fire a number of years ago and had to exhaust all of their financial reserves.