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TO: Mayor John Laesch
FROM: Brian W. Caputo, Chief Operating Officer
DATE: June 16, 2026
SUBJECT:
A Resolution Authorizing the Execution of an Agreement to Provide Parking for Residents of the Hobbs Building
PURPOSE:
The Administration seeks authority to execute an agreement to provide parking for residents of the Hobbs Building.
BACKGROUND:
The redevelopment agreement (RDA) approved by the City Council on September 24, 2019, and amended on February 23, 2021, through the adoption of Resolution R19-330 and Resolution R21-038 provided for the redevelopment of the Hobbs Building at 2 North River Street. The developer of the project concerned is JH Real Estate Partners, LLC. The RDA calls for the city and the developer to enter into a separate agreement to provide parking for the residents of the Hobbs Building.
DISCUSSION:
There are 31 housing units in the Hobbs Building. The agreement at Attachment A provides for parking for the residents of the building in the Tivoli Parking Deck. The initial price of the resident parking permits will be $40 per month. This is the same price that the city charges for (general) gold downtown overnight parking permits. This resident permit will enable Hobbs Building residents to park overnight in the deck seven days a week. The monthly rate will be subject to change consistent with changes in the rates for other downtown parking permits.
Ultimately, the city will obtain control of the Tivoli Parking Deck after the disposition of the old casino structure is determined. However, PENN Entertainment will likely retain control of the deck until sometime in 2027. Until the city gains control of the Tivoli Parking Deck, the Administration will provide parking spaces in H Lot, located north of the Hobbs Building and west of Middle Avenue. The price of these resident parking permits will be $30 per month. This is the same price that the city charges for (general) silver downtown overnight parking permits. This resident parking permit will enable Hobbs Building residents to park overnight in H Lot seven days a week. The Administration expects to designate resident spaces by distinctive markings on the pavement surface of H Lot.
The fee revenue associated with the sale of the resident parking permits will be recorded in account no. 520-2533-372.05-18 (Permit Fees/Lot H-Middle Avenue.
IMPACT STATEMENT:
The approval of this agreement will provide reasonable parking accommodations for residents of the Hobbs Building while generating revenue to support the maintenance of the parking facilities concerned.
RECOMMENDATIONS:
That the City Council approve the attached resolution authorizing the execution of an agreement to provide parking for the residents of the Hobbs Building.
cc: Rules, Administration, and Procedures Committee
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution Authorizing the Execution of an Agreement to Provide Parking for Residents of the Hobbs Building
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the protection of the public health, safety, morals, and welfare; and
WHEREAS, JH Real Estate Partners and other related entities (the "Developer") developed the properties at 2 North River Street; and
WHEREAS, the development at 2 North River Street (the "Hobbs Building") includes 31 residential housing units; and
WHEREAS, the redevelopment agreement and its amendment, Resolution R19-330 approved by the City Council on September 24, 2019, and Resolution R21-018 approved on February 23, 2021, called for the provision of parking for the residents of the Hobbs Building; and
WHEREAS, the City of Aurora intends to make parking available to Hobbs Building residents at the Tivoli Parking Deck located at 49 West Galena Boulevard; and
WHEREAS, the City of Aurora and the Developer have mutually agreed to terms and conditions under which parking may be provided for residents of the Hobbs Building.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: That the Mayor of the City of Aurora or his designee is authorized to execute Attachment A, the attached agreement to provide parking for the residents of the Hobbs Building.