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TO: Mayor Thomas J. Weisner
FROM: Bill Wiet, Chief Development Services Officer
DATE: September 4, 2014
SUBJECT:
To approve an expansion to the existing boundaries of the River Edge Redevelopment Zone known as the Aurora River Zone, following notice and public hearing.
PURPOSE:
The amendment to add territory to the Aurora River Edge Redevelopment Zone (River Edge Zone or RERZ) is being requested in order to provide the benefits of the RERZ to environmentally challenged industrial sites, vacant buildings of significance to the community and neighborhood in order to develop or redevelop those properties increasing the city's tax base and the repurposing of underutilized buildings and properties. The goal of the expansion is to create new jobs, stimulate the local economy, and to revitalize significant buildings, sites and neighborhoods. There are challenging sites and buildings lying just outside of the current zone, and to expand the zone generally south of the downtown along the Fox River to its southern municipal boundary captures these significant properties.
BACKGROUND:
On December 12, 2006, the City Council of the City of Aurora approved Ordinance O06-131 entitled "An Ordinance Establishing A River Edge Redevelopment Zone (RERZ) To Be Known As The "Aurora River Zone" .Aurora was the first municipality to be included as part of the state legislation enacting the River Edge Redevelopment Zone Act, Public Act 94-102. Other communities such as Elgin, Rockford and East St, Louis joined Aurora as a certified RERZ. In accordance with the Act, Aurora has successfully implemented projects that resulted in the redevelopment of challenged properties located in the Aurora River Zone. The clean up of environmentally challenged properties within the RERZ (for example, Kiddie Kar, RiverEdge Park Music Garden) shows that collaboration on challenged sites by the City of Aurora and , the various State agencies committed to these zones, provides positi...
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