Ill. city council will weigh baseball team's debt plan

04/29/2013 | Peoria Journal Star (Ill.)

The Peoria, Ill., City Council is scheduled today to discuss a financial restructuring of the Peoria Chiefs, a minor league baseball franchise, that would require the council to forgive $1.2 million in debt. The team's presence might be in jeopardy if the council does not approve the plan. "The city has made a significant investment in that part of town," Councilman Tim Riggenbach said. "The need to forgive $1.2 million definitely is an additional investment on our part, but I think in the long run, it protects the investments we've made in the past."

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Peoria Journal Star (Ill.)

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