cover
TO: Mayor Thomas J. Weisner
FROM: Bill Wiet, Chief Development Services Officer
DATE: September 21, 2016
SUBJECT:
To provide a TIF Grant in the amount of $93,450.00 to OnLight Aurora to extend fiber optic to Aldi Inc. Information Technology Building at 1245 Corporate Boulevard.
PURPOSE:
To allow for the redevelopment and reuse of a currently vacant property and provide benefits of utilizing the current fiber optic network.
BACKGROUND:
According to Invest Aurora memo attached, Aldi plans to transfer 160 existing employees with plans to hire an additional 140 jobs in the next 1-5 years at this location. This building acquisition by Aldi will have positive economic development benefits in the West Farnsworth Tax Increment Financing District No. 7. Having a fiber network nearby greatly enhanced the opportunity for a connection into the City's network.
DISCUSSION:
Aldi Inc. executed a contract with OnLight Aurora, the non-profit agency managing the City's fiber network, for OnLight to extend the fiber connection and to provide service to the building. The contract is included for review purposes. The cost estimate ($93,450.00) is based upon the winning bid from Utility Dynamics Corporation. Original estimates were $110,000.00. Funds are available in the TIF 7 account number 237-1830-465.73-99 (Capital Outlay)
IMPACT STATEMENT:
There will be minimal impact should the request be approved.
RECOMMENDATIONS:
It is recommended that the TIF grant be approved.
cc: Alderman O’Connor, Chairman
Alderman Mervine
Alderman Bohman
Alderman Mesiacos, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
title
A Resolution Approving a Tax Increment Financing Grant to OnLight Aurora, to Provide for a Fiber Optic Connection to Aldi Inc. Information Technology Building at 1245 Corporate Boulevard, Aurora.
body
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, Aldi Inc. entered into a contract with OnLight Aurora for OnLight to extend the City's fiber connection and provide service to Aldi's Information Technology building at 1245 Corporate Boulevard, which is located within the West Farnsworth Tax Increment Financing District Number 7 in Aurora; and
WHEREAS, The Invest Aurora Board recommended approval of a Tax Increment Financing (TIF) grant in the amount of $93,450.00 to OnLight Aurora as an economic development catalyst since this fiber extension has the potential to serve other buildings in the area; and
WHEREAS, it is therefore desirable that Aurora provide a TIF grant to OnLight Aurora for the purpose of extending the fiber connection to the building; and
WHEREAS, funds are available for this project under Account Number 237-1830-465.73-99 Capital Outlay Improvement-Other TIF #7)
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: That the TIF grant to OnLight Aurora is hereby approved in the amount of $93,450.00, and that The City's Chief Financial Officer be authorized to process payment to OnlIght Aurora in the amount described above.