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TO: Mayor Richard C. Irvin
FROM: Trevor Dick, FAICP LEED AP, Assistant Director Mayor's Office of Economic Development
DATE: May 23, 2023
SUBJECT:
An ordinance amending ordinance No. 023-017 calling for a public hearing and a Joint Review Board meeting to consider the designation of a redevelopment project area and the approval of a Redevelopment Plan and Project for the City of Aurora River Vine Tax Increment Financing District to reschedule the public hearing date.
PURPOSE:
The Ordinance is needed to reschedule the Public Hearing for the creation of the proposed River Vine TIF District. The City Council designates the date of Tuesday, August 8, 2023, at 6:00 p.m. at the Aurora City Hall, 5th Floor Conference Room, 44 East Downer Place, Aurora, Illinois 60507, for the purpose of conducting a public hearing to hear from any interested persons, taxpayers, or affected taxing districts regarding the Redevelopment Project Area and the TIF Plan for the proposed River Vine TIF District.
BACKGROUND:
On March 14, 2023, the City Council of the City of Aurora adopted Ordnance No. 023-017, titled “An Ordinance Calling for a Public Hearing and a Joint Review Board Meeting to Consider the Designation of a Redevelopment Project Area and the Approval of a Redevelopment Plan and Project for the City of Aurora River Vine Tax Increment Financing District” (“Procedures Ordinance”). However, because of scheduling issues this ordinance is to reschedule the date of the public hearing in the Procedures Ordinance for the River Vine Tax Increment Financing District, and to have notices of the new public hearing date given in accordance with the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq. (“TIF Act”).
DISCUSSION:
The creation of the proposed River Vine TIF district requires several steps. The City’s Corporation Counsel has engaged Elrod Friedman to serve as the City's Special Counsel to support this TIF formation process. The Redevelopment Agreement calls for the City to provide financial incentives to the redevelopment project paid out of the creation of a new TIF District. It is anticipated that the TIF District will be created in late summer 2023.
IMPACT STATEMENT:
Failure to make this announcement will mean that this TIF District will not be created and needed financing for future development of the renovation of the “Westbank” an approved RDA between the City of Aurora and the developer will not be created.
RECOMMENDATIONS:
Staff recommends approval of the Ordinance rescheduling the date of the Public Hearing.
cc: Finance Committee
Alderman Carl Franco, Chairperson
Alderman Edward Bugg, Vice Chairman
Alderman at Large, Ron Woerman
Alderwoman Scheketa Hart-Burns
Alderwoman Shweta Baid
CITY OF AURORA, ILLINOIS
ORDINANCE NO. _________
DATE OF PASSAGE ________________
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An Ordinance amending ordinance No. 023-017 calling for a public hearing and a Joint Review Board meeting to consider the designation of a redevelopment project area and the approval of a Redevelopment Plan and Project for the City of Aurora River Vine Tax Increment Financing District to reschedule the public hearing date.
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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, on March 14, 2023, the City Council of the City of Aurora (“City”) adopted Ordnance No. 023-017, titled “An Ordinance Calling for a Public Hearing and a Joint Review Board Meeting to Consider the Designation of a Redevelopment Project Area and the Approval of a Redevelopment Plan and Project for the City of Aurora River Vine Tax Increment Financing District” (“Procedures Ordinance”); and
WHEREAS, on April 6, 2023, pursuant to the Procedures Ordinance, the Joint Review Board for the City of Aurora River Vine Tax Increment Financing District (“TIF District”) met, considered the City’s proposal to create the TIF District, reviewed the proposed Redevelopment Project Area, Eligibility Report, Redevelopment Plan and Project, and proposed ordinances establishing the TIF District, and recommended that the Mayor and City Council of the City establish the TIF District; and
WHEREAS, the City Council of the City desires to reschedule the date of the public hearing in the Procedures Ordinance for the River Vine Tax Increment Financing District, and to have notices of the new public hearing date given in accordance with the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq. (“TIF Act”);)
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Aurora, Illinois, as follows:
SECTION 1: That Section 1 of the Procedures Ordinance is amended to read as follows in its entirety:
That, pursuant to the provisions of the TIF Act, the City Council hereby designates the date of Tuesday, August 8, 2023, at 6:00 p.m. at the Aurora City Hall, 5th Floor Conference Room, 44 East Downer Place, Aurora, Illinois 60507, for the purpose of conducting a public hearing to hear from any interested persons, taxpayers, or affected taxing districts regarding the Redevelopment Project Area and the TIF Plan for the proposed River Vine TIF District.
SECTION 2: That a notice of the rescheduled public hearing must be sent by certified mail, return receipt requested, and a notice of the public hearing must be given by publication, certified mail, return receipt requested, and by first class U.S. Mail, all as required by Sections 11-74.4-5(b) and 11-74.4-6(a), (b) and (c) of the TIF Act, with said notices being substantially in the form attached hereto as Exhibit A and made part hereof.
SECTION 3: That all parts of the Procedures Ordinance not amended in this Ordinance remain in effect.
SECTION 4: That this Ordinance will be in full force and effect from and after its adoption and approval as provided by law.