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TO: Mayor Thomas J. Weisner
FROM: Bill Wiet, Chief Development Services Officer
DATE: December 2, 2014
SUBJECT:
To request approval for the City of Aurora to accept the assignment of the purchase agreement for 2065 Bilter Road from Seize the Future Development Foundation (STFDF) in order to acquire the Bilter Road property.
PURPOSE:
2065 Bilter Road is a five-acre, long and narrow piece of improved residential property immediately north of the Chicago Premium Outlets expansion. This parcel is also one of several similar sized properties along this stretch of Bilter Road, all in unincorporated Kane County, that according to the City's comprehensive plan designates this area as future Office/Research/Industrial (ORI) or non-residential. Seize the Future Development Foundation (STFDF) and the Aurora Economic Development Commission before them, have been working with properties in this area for several years. STFDF has entered into a purchase agreement with Betty A. Glover as Trustee for the Betty A Glover Declaration of Trust Dated March 2, 2001, owner of the property, for an acquisition price of $750,000. The City of Aurora would then accept assignment of the purchase agreement and acquire the property.
BACKGROUND:
Given the expansion of the Chicago Premium Outlets (CPO) to the east, it was discussed at that time the possible need for an additional access drive leading from Bilter Road into the CPO site. This particular property can be utilized for that purpose, or can be an integral parcel for the future development of all the similar properties along Bilter should the location for the access drive change.
DISCUSSION:
Past studies have shown concept plans for an access drive from the east along Bilter Road into the expanded CPO site. Given that this area of unincorporated properties is being marketed for commercial purposes, the acquisition by the City of one parcel in this area (of 10 total properties) can serve several purposes, and...
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