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TO: Mayor Thomas J. Weisner
FROM: Tracey M. Vacek, Planner
DATE: August 20, 2014
SUBJECT:
An Ordinance Authorizing Execution of and establishing the Costs of Recapture for a Portion of the Indian Trail Road Improvements from its Terminus within the Stonegate Subdivision West to Farnsworth Avenue in Kane County, Illinois (The City of Aurora - / AU12/3-09.200AG - TV - Ward 1)
PURPOSE:
The purpose of this Ordinance is to execute and established the recapture cost of the Indian Trail roadway improvements to the City of Aurora from the benefited properties along Indian Trail Road.
BACKGROUND:
In 2004, the City approved a Roadway Agreement with Moser Enterprise/Kensington Development Group, Inc. by Resolution R04-256 for the extension of Indian Trail Road from its terminus within Stonegate Subdivision west to Farnsworth Avenue. Then in 2005, Zausa Homes entered into an Annexation Agreement by Ordinance O05-098 which contemplated a recapture of 30% of cost for the Indian Trail roadway improvement adjacent to their property.
DISCUSSION:
This Ordinance will allow the City of Aurora to recapture the cost of the Indian Trail Roadway improvements from certain properties along Indian Trial Road.
IMPACT STATEMENT:
The Planning and Zoning Division would anticipate that this project will increase the City's overall tax base and viability by facilitating investment and development which will offset any incidental Department or staffing impacts.
RECOMMENDATIONS:
Staff would recommend APPROVAL of the Ordinance Authorizing Execution of and establishing the Costs of Recapture for a Portion of the Indian Trail Road Improvements from its Terminus within the Stonegate Subdivision West to Farnsworth Avenue in Kane County, Illinois
ATTACHMENTS:
Recapture Ordinance
cc: Alderman Saville, Chairman
Alderman Donnell
Alderman Irvin
Alderman Hart-Burns, Alternate
CITY OF AURORA, ILLINOIS
ORDINANCE NO. _________
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