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TO: Mayor Thomas J. Weisner
FROM: Bill Wiet, Chief Development Services Officer
DATE: May 29, 2014
SUBJECT:
To request approval for the City of Aurora to accept the assignment of the purchase contract for 143 Middle Avenue from Seize the Future Development Foundation (STFDF) in order to acquire the two rental houses on the property, along with an ice cream vending service known as Aurora Curbside Limited.
PURPOSE:
New development is occurring on the block bounded by River, Cross, Lake and Benton Streets. The Aurora Public Library is under construction, a recent purchase was made of the property south of the library, and additional parking spaces will be constructed to compliment these developments. The property at 143 Middle Avenue, owned by Jeffrey L. and Karen Sue Anderson and described above, is the last remaining parcel of land in this block which was contemplated to be integrated in the future parking lots along Lake Street. According to the final plan approved for the City/Library parking lots, this property was planned to be the main entrance from Lake Street to the two parking lots on either side.
BACKGROUND:
The City has in the past, and more recently Seize the Future Development Foundation (STFDF), been seeking to acquire this property for the above-stated purpose. Finding alternative sites that met the needs of Curbside Limited proved difficult at times. Recently STFDF has executed a purchase contract for Curbside's current property at 143 Middle Avenue, but also for the property at 260 South Highland Avenue. It is the 260 South Highland property where Curbside Limited is going to relocate.
DISCUSSION:
At time of closing, the City of Aurora would assume the rights to purchase 143 Middle Avenue for $297,000 from the Andersons. Also, under separate resolution, the City will be executing a redevelopment agreement for $50,000 to Aurora Curbside Limited in additional expenses consisting primarily of the installation of a freez...
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