cover
TO: Mayor Richard C. Irvin
FROM: Michael Pegues, Chief Information Officer
DATE: January 17, 2018
SUBJECT:
Requesting approval to provide a Tax Increment Financing (TIF) grant in the amount of $75,000 to OnLight Aurora to extend fiber optic to the TIF District # 1 commercial properties to include:
Aurora Arts Center
Paramount Theatre
North Island Center
Stolp Street
River Street (between Benton Street - Downer Place)
Old District 129 Administration building
Family Counseling Center
PURPOSE:
To allow for the further development and reuse of both vacant and occupied commercial spaces in TIF District # 1 by providing benefits of utilizing the City's current fiber optic network.
BACKGROUND:
OnLight Aurora has in the past received grants to extend their service into areas that are not currently covered or in some cases bringing the City's network into a building. The last grant was for the connection of River Street commercial properties in October 2017 which is currently targeted for completion end by the end of Q1 2018.
DISCUSSION:
OnLight Aurora, the non-profit agency managing the City's fiber network, is proposing to build and implement fiber access connections to these properties that will provide a robust, highly available network and internet to advance economic development opportunities.
The cost estimate is included for review purposes. The $75,000 grant represents the estimated amount plus approximately 10% in contingency. Funds are available in account number: 231-1380-419.73-86.
IMPACT STATEMENT:
This request will have a positive impact on the community by allowing commercial users to connect to the City's fiber network and increase business opportunities.
RECOMMENDATIONS:
It is recommended that the TIF #1 Grant in the amount of $75,000 be approved.
cc: Alderman O’Connor, Chairman
Alderman Mesiacos
Alderman Bugg
Alderman Mervine, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
title
A Resolution approving a Tax Increment Financing (TIF) grant in the amount of $75,000 to OnLight Aurora to extend fiber optic to the TIF District # 1 commercial properties.
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, OnLight Aurora is the non-profit agency managing the City of Aurora's fiber network, and
WHEREAS, OnLight Aurora is desirous of extending the City's fiber optic network to serve the commercial properties located in the TIF District #1, thereby providing a highly available network and internet to further advance economic development opportunities in the downtown, and
WHEREAS, it is therefore desirable that Aurora provide a TIF grant in the amount of seventy five thousand dollars ($75,000) to OnLight Aurora for the purpose of extending the fiber optic network, and
WHEREAS, funds are available by way of a budget amendment into Tax Increment Financing District Number 1 Account Number 231-1380-419.73-86.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: to authorize a Tax Increment Financing (TIF) grant in the amount of $75,000 to OnLight Aurora to extend fiber optic to the TIF District # 1 commercial properties.