TO: Mayor Richard C. Irvin
FROM: Martin S. Lyons, Chief Financial Officer/City Treasurer
DATE: September 20, 2019
SUBJECT:title
Public Hearing regarding the creation of the proposed River Benton Tax Increment Finance District.
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PURPOSE:
To conduct a Public Hearing to be held on October 8, 2019 by the City Council for the creation of Tax Increment Finance District River Benton.
BACKGROUND:
The creation of TIF District River/Benton is part of an existing RDA between the City of Aurora and a private developer for the highly-visible redevelopment of the 80 South River project. The creation of this TIF District will continue this redevelopment within key parcels within the Downtown.
DISCUSSION:
Included in this Agenda item are:
Attachment 1 - Timeline for Adoption of TIF River Benton
Attachment 2 - Approval of TIF River Benton by the Joint Review Board
Attachment 3 - Notices of Public Hearing in English and Spanish
Attachment 4 - 3 draft Ordinances creating TIF River Benton
- An Ordinance Approving the TIF District
- An Ordinance Designating the TIF District
- An Ordinance Adopting the TIF District
IMPACT STATEMENT:
N/A
RECOMMENDATIONS:
To hold the Public Hearing by the City Council on October 8, 2019 for the adoption of TIF River Benton
cc: Finance Committee
Chairman Robert O'Connor
Alderman Mesiacos
Alderman Bugg