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TO: Mayor Richard C. Irvin
FROM: Bill Wiet, Chief Development Services Officer
DATE: October 13, 2017
SUBJECT:
To provide a Tax Increment Financing grant in the amount of $40,000 to OnLight Aurora to extend fiber optic to the River Street Plaza commercial properties along South River Street south of Benton Street.
PURPOSE:
To allow for the further development and reuse of both vacant and occupied commercial spaces in River Street Plaza by providing benefits of utilizing the City's current fiber optic network.
BACKGROUND:
OnLight Aurora has in the past received grants to extend their service into areas that are not currently covered or in some cases bringing the City's network into a building. Last grant was for the connection of fiber to Aldi's Information Technical headquarters on Corporate Boulevard. That endeavor has proved successful and the desire is to get more fiber optic service available in the downtown.
DISCUSSION:
OnLight Aurora, the non-profit agency managing the City's fiber network, is proposing to build and implement fiber access connections to these properties that will provide a robust, highly available network and internet to advance economic development opportunities.
The cost estimate in included for review purposes. The $40,000 grant represents the estimated amount plus approximately 10% in contingency. Funds will be available pursuant to a budget amendment into Account Number 233-1830-465.32-99 (TIF 3 Professional Fees)
IMPACT STATEMENT:
This request will have a positive impact on the community by allowing commercial users to connect to the City's fiber network.
RECOMMENDATIONS:
It is recommended that the TIF #3 Grant in the amount of $40,000 be approved.
cc: Alderman O'Connor, Chairman
Alderman Mesiacos
Alderman Bugg
Alderman Mervine, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
title
A Resolution Approving a Tax Increment Financing Grant to OnLight Aurora to Pr...
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