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TO: Mayor Richard C. Irvin
FROM: David Dibo, Executive Director
DATE: August 21, 2019
SUBJECT:
A Resolution authorizing the Reimbursement of Eligible Costs for Arechiga Group 1, Inc. dba El Jefe, 1271 N. Lake Street in Tax Increment Finance District (TIF) #5 in the amount of $33,000
PURPOSE:
Requesting Reimbursement for the installation of a grease trap by Arechiga Group 1, dba El Jefe Restaurant, 1271 N. Lake Street. This resolution will allow eligible expenses to be reimbursed by TIF #5
BACKGROUND:
This former restaurant building at 1271 N. Lake Street has been vacant for years and in order to open as a restaurant again, the owners needed to install a new grease trap.
Arechiga Group 1 will be opening a full service family restaurant at the end of August 2019 called El Jefe. El Jefe is part of a family owned Mexican restaurant group that has six other locations.
DISCUSSION:
The redevelopment of 1271 N. Lake Street represents the advancement of the desirable goals of the City of Aurora by improving the Lake Street Corridor, (Lake Street is a main gateway into the City of Aurora).
This reimbursement resolution allows for the reimbursement of TIF eligible expenses incurred by the developer.
IMPACT STATEMENT:
The restaurant will be opened on time and enhance the Lake Street Corridor.
RECOMMENDATIONS:
Staff recommends approval of the submitted reimbursement request.
cc: Finance Committee
Alderman Robert J. O'Connor, Chairperson
Alderman Edward J. Bugg, Vice Chairperson
Alderman Carl Franco
Alderman Scheketa Hart-Burns
Alderman Emmanuel Llamas
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution authorizing the Reimbursement of Eligible Costs for Arechiga Group 1, Inc. dba El Jefe, 1271 N. Lake Street in Tax Increment Finance District (TIF) #5 for in the amount of $33,000 for the installation of a new grease trap).
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WHEREAS, the City ...
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