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TO: Mayor Richard C. Irvin/ Planning Commission / Zoning Board of Appeals
FROM: Trevor Dick, FAICP, LEED AP, Assistant Director
DATE: December 11, 2023
SUBJECT:
An Ordinance Designating the City of Aurora Farnsworth Bilter Tax Increment Financing District Redevelopment Project Area Redevelopment Plan and Project.
PURPOSE:
The Farnsworth Bilter Tax Increment Financing District ("TIF District") is being created to support the new Hollywood Casino development at the southwest corner of Farnsworth Avenue and Bilter Road in the City. Staff has been working with our consultants, Ryan, LLC (formerly known as Kane, McKenna and Associates), and Elrod Frieman LLP to assist with the creation of the TIF District. The Ordinances create the TIF District that will support the Hollywood Casino development, as approved by the City Council in a previously approved Redevelopment Agreement in 2022.
BACKGROUND:
The creation of this TIF District is related to an existing Redevelopment Agreement (“RDA”) approved in October of 2022 between the City of Aurora and PENN Entertainment for the construction of a new Hollywood Casino at the southwest intersection of Farnsworth Avenue and Bilter Road in the City. The new Casino will create new construction jobs and permanent jobs, add new event space and new restaurants, establish a new hotel, increase gaming revenue for the City that supports many community services and programs throughout the entire City and - along with the Simon Chicago Premium Outlet Mall - strengthens the area as a rising regional and State destination.
DISCUSSION:
Designating the Farnsworth Bilter TIF District will enable the adoption of the subject TIF and will allow the City to collect and use incremental property taxes in support of redevelopment efforts over the life of the TIF.
IMPACT STATEMENT :
Staff anticipates that the TIF District, and the associated redevelopment activities therein, will increase the City’s overall tax base, by facilitating investment and development, which will offset any incidental Department or staffing impacts.
RECOMMENDATIONS:
Staff recommends the approval of the Ordinance Designating the City of Aurora Farnsworth Bilter Tax Increment Financing District Redevelopment Project Area Redevelopment Plan and Project.
ATTACHMENTS:
Exhibit A-1 Redevelopment Project Area Legal Description
Exhibit A-2 Street Location
Exhibit B - Farnsworth Bilter Tax Increment Financing District TIF Plan
cc: Finance Committee
Alderman Carl Franco, Chairperson
Alderman Edward J. Bugg, Vice Chairperson
Alderman-At-Large Ron Woerman
Alderwoman Shweta Baid
Alderman Brandon Tolliver
CITY OF AURORA, ILLINOIS
ORDINANCE NO. _________
DATE OF PASSAGE ________________
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An Ordinance Designating the City of Aurora Farnsworth Bilter Tax Increment Financing District Redevelopment Project Area.
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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, pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq. (“TIF Act”), authorized a study in regard to designating a redevelopment project area for the City’s Farnsworth Bilter Tax Increment Financing District (“TIF District”); and
WHEREAS, on September 26, 2023, the City announced the availability of the redevelopment plan and project for the TIF District (“TIF Plan”), with said TIF Plan containing an eligibility report for the TIF District addressing the tax increment financing eligibility of the area proposed for designation as the redevelopment project area for said TIF District (“Redevelopment Project Area”); and
WHEREAS, a public hearing was held on December 12, 2023, regarding the TIF Plan; and
WHEREAS, the Mayor and City Council have adopted and approved the TIF Plan, and it is now necessary and desirable to designate the area referred to therein as the Redevelopment Project Area;
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Aurora, Illinois, as follows:
SECTION 1: That the recitals above are incorporated into Section 1 of this Ordinance.
SECTION 2: That the area described and depicted in Exhibit A-1 and Exhibit A-2 attached hereto, and made a part thereof, is hereby designated as the Redevelopment Project Area for the City’s Farnsworth Bilter Tax Increment Financing District pursuant to Section 4 of the TIF Act.
SECTION 3: That this Ordinance will be in full force and effect from and after its adoption, approval and publication in pamphlet form as provided by law.
SECTION 4: That if any section, paragraph, clause or provision of this Ordinance is held invalid, the invalidity thereof will not affect any of the other provisions of this Ordinance.
SECTION 5: That all ordinances or parts of ordinances in conflict herewith are, to the extent of such conflict, hereby repealed.