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TO: Mayor Richard C. Irvin
FROM: Adrienne M. Holloway, Ph.D., Chief Innovation Officer
DATE: January 17, 2018
SUBJECT:
Resolution Authorizing the City of Aurora to enter into a lease agreement with the Elssy Fabela Foundation for 712 S. River Street, Aurora, IL 60506.
PURPOSE:
To obtain City Council Approval to enter in a new lease agreement through February 28, 2023 should both parties mutually agree, for city owned property located at 712 S. River Street, Aurora, IL.
BACKGROUND:
The Elssy Fabela Foundation, a 501 (c)(3) tax exempt private foundation, founded by Augie K. Fabela, Sr. in 1998, has exhibited a commitment to providing education, leadership and support services to low-income Aurora families since its inception. It's founder, Augie K. Fabela Sr., is principal of the Aurora Defense Group (formerly Aurora Cord & Cable) which has been a staple and stable corporation located in Aurora since 1966.
The Elssy Fabela Foundation was a former tenant of the Southeast Community Resource Center from February 1998 through 2011 at which point the City of Aurora was no longer leasing space to organizations. Consequently, the Elssy Fabela Foundation relocated to North Aurora, yet continued to provide programs and support to Aurora families. Foundation leadership maintained an interest in moving back to Aurora, closer to its clientele. Staff worked with Foundation leadership to identify an appropriate location at 712 S. River Street, a city-owned building that has been vacant since 2014. The Elssy Fabela Foundation will be the sole tenant of said property.
DISCUSSION:
The lease term is for five years, with a termination clause, which can be exercised by either party upon six (6) month written notice, after year 3 of the lease. The negotiated rent is $899.00 per month, beginning in month 4 of year 1 of the lease agreement, after the conclusion of a 3 month rent waiver. The Elssy Fabela Foundation will be responsible for paying utilities (electric, gas, phon...
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