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TO: Mayor Thomas J. Weisner
FROM: Bill Wiet, Chief Development Services Officer
DATE: September 21, 2016
SUBJECT:
To provide a TIF Grant in the amount of $93,450.00 to OnLight Aurora to extend fiber optic to Aldi Inc. Information Technology Building at 1245 Corporate Boulevard.
PURPOSE:
To allow for the redevelopment and reuse of a currently vacant property and provide benefits of utilizing the current fiber optic network.
BACKGROUND:
According to Invest Aurora memo attached, Aldi plans to transfer 160 existing employees with plans to hire an additional 140 jobs in the next 1-5 years at this location. This building acquisition by Aldi will have positive economic development benefits in the West Farnsworth Tax Increment Financing District No. 7. Having a fiber network nearby greatly enhanced the opportunity for a connection into the City's network.
DISCUSSION:
Aldi Inc. executed a contract with OnLight Aurora, the non-profit agency managing the City's fiber network, for OnLight to extend the fiber connection and to provide service to the building. The contract is included for review purposes. The cost estimate ($93,450.00) is based upon the winning bid from Utility Dynamics Corporation. Original estimates were $110,000.00. Funds are available in the TIF 7 account number 237-1830-465.73-99 (Capital Outlay)
IMPACT STATEMENT:
There will be minimal impact should the request be approved.
RECOMMENDATIONS:
It is recommended that the TIF grant be approved.
cc: Alderman O'Connor, Chairman
Alderman Mervine
Alderman Bohman
Alderman Mesiacos, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution Approving a Tax Increment Financing Grant to OnLight Aurora, to Provide for a Fiber Optic Connection to Aldi Inc. Information Technology Building at 1245 Corporate Boulevard, Aurora.
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit und...
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