The Peoria City Council has voted to approve a $3 million loan for the development of a new youth sports complex.
The council decided to help developer Mark Petersen move forward with the Louisville Slugger Sports Complex. It will include ball diamonds, an indoor sports dome and a hotel.
The city will charge 4 percent interest on the loan that's due at the end of next year. Petersen asked for the loan because he wasn't able to secure adequate private fundraising in time.
The city will assume ownership of the 50-acre, $3 million site if Petersen defaults.
Mayor Jim Ardis said Tuesday he has faith in Petersen, a local businessman. But some council members were unhappy that Petersen didn't attend the meeting.