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TO: Mayor Thomas J. Weisner
FROM: Bill Wiet, Chief Development Services Officer
DATE: July 20, 2015
SUBJECT:
To consider a development agreement between the City of Aurora and Metro 59, LLC for a partial building permit fee reduction for Metro 59 apartments located on Station Boulevard.
PURPOSE:
Metro 59, LLC has submitted for building permit review and approval by the City's Division of Building and Permits. Metro 59, LLC desires to pick up permits in mid-August and begin construction on what is an $80,000,000 + multi-family community consisting of 460 units in 7 buildings, which also includes a separate clubhouse building. This partial reduction is to help cover some extraordinary costs associated with the construction of Station Boulevard itself.
BACKGROUND:
This complex has been in the planning stage for several years. It has changed ownership a few years ago, and as the renderings show, Metro 59, LLC is planning a luxury, urban style architecture complex south of the Route 59 train station. All buildings will include first floor indoor parking, all in accordance to our current standards. Also, Metro 59, LLC assisted with the construction of Station Boulevard, and has to date contributed $2,000,000 + toward the roadway, with only the construction of the signalized intersection remaining ($200,000). It is planned that the west side buildings, including the clubhouse, will be constructed first.
DISCUSSION:
The reduced amount being requested is $109,054. Permit fees associated with each building ranges from $54,527 to $104,706, depending on the size of each building. This is only the Building Permit Fee and does not include Park District Fees, School Fees, water connection fees, fire impact fees, etc. Most individual building fee totals are $240,000 each, with the largest building having $472,000 in total fees. Again, it is only being requested that the reduced amount be to cover the extraordinary costs associated with the comple...
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