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TO: Mayor Richard C. Irvin
FROM: David Dibo, Executive Director
DATE: April 1, 2025
SUBJECT:
A resolution authorizing approval of a Loan Agreement between the City of Aurora, Delicia Bowling, and Darius Butler for the purpose of facilitating the opening of The Soul Spot, a soul food restaurant, in Unit E4 at the Fox Valley Mall located at 195 Fox Valley Center Dr, Aurora, IL 60504.
This request was held for 30 days to ensure the funding request was sufficient to address all remaining tenant financial responsibilities
PURPOSE:
The Loan Agreement will help to facilitate Delicia Bowling and Darius Butler to open "The Soul Spot", a soul restaurant. The agreement codifies the commitments from Delicia Bowling that triggers City incentives that will be repaid to the City as described below.
BACKGROUND:
The subject commercial space, formerly occupied by Tilted Kilt Pub & Eatery who left in 2017. Another eatery temporarily occupied the space in 2021. Despite its prime location, the space has remained vacant not generating any sales tax revenue during this time, an opportunity loss for the city, and its taxpayers estimated at over $160,000 over four years (2021-2025).
Delicia owned and operated Mandy's Soul Food in Bolingbrook for seven years until making the decision to bring her successful and established business to Aurora.
Delicia has recently signed a lease agreement with Centennial Real Estate Management, LLC to improve and occupy the 6,251 square feet restaurant space.
Delicia has invested over $350,000 in kitchen equipment that she is bringing to this space. This together with the landlord's commitment to invest $112,900 to ensure that all equipment is in working order has limited some, but not all, of the costs to open the restaurant. Certain equipment will have to be replaced as this kitchen is smaller and has a layout that is different than her previous space. In addition, there are requirements for new signage, retrofitting, and working capital in...
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