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TO: Mayor Richard C. Irvin
FROM: David Dibo, Executive Director
DATE: August 21, 2019
SUBJECT:
A Resolution authorizing the Reimbursement of Eligible Costs for Arechiga Group 1, Inc. dba El Jefe, 1271 N. Lake Street in Tax Increment Finance District (TIF) #5 in the amount of $33,000
PURPOSE:
Requesting Reimbursement for the installation of a grease trap by Arechiga Group 1, dba El Jefe Restaurant, 1271 N. Lake Street. This resolution will allow eligible expenses to be reimbursed by TIF #5
BACKGROUND:
This former restaurant building at 1271 N. Lake Street has been vacant for years and in order to open as a restaurant again, the owners needed to install a new grease trap.
Arechiga Group 1 will be opening a full service family restaurant at the end of August 2019 called El Jefe. El Jefe is part of a family owned Mexican restaurant group that has six other locations.
DISCUSSION:
The redevelopment of 1271 N. Lake Street represents the advancement of the desirable goals of the City of Aurora by improving the Lake Street Corridor, (Lake Street is a main gateway into the City of Aurora).
This reimbursement resolution allows for the reimbursement of TIF eligible expenses incurred by the developer.
IMPACT STATEMENT:
The restaurant will be opened on time and enhance the Lake Street Corridor.
RECOMMENDATIONS:
Staff recommends approval of the submitted reimbursement request.
cc: Finance Committee
Alderman Robert J. O'Connor, Chairperson
Alderman Edward J. Bugg, Vice Chairperson
Alderman Carl Franco
Alderman Scheketa Hart-Burns
Alderman Emmanuel Llamas
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution authorizing the Reimbursement of Eligible Costs for Arechiga Group 1, Inc. dba El Jefe, 1271 N. Lake Street in Tax Increment Finance District (TIF) #5 for in the amount of $33,000 for the installation of a new grease trap).
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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, the City hereby finds and determines that the Tax Increment Financing reimbursement intended herein will serve the public purposes of the City; and:
WHEREAS, the City has been requested by the contract purchaser Arechiga Group 1, (the “Developer”) for reimbursement of Tax Increment Financing eligible costs for the installation of a new grease trap; and
WHEREAS, the Developer’s Eligible Costs are legally permitted to be reimbursed, in accordance with the Tax Increment Financing guidelines; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: That the Finance Committee hereby authorizes the Reimbursement of $33,000 from Tax Increment Finance District (TIF) #5 for the installation of a new grease trap.