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TO: Mayor Richard C. Irvin
FROM: Michael Pegues, Chief Information Officer
DATE: January 17, 2018
SUBJECT:
Requesting approval to provide a Tax Increment Financing (TIF) grant in the amount of $75,000 to OnLight Aurora to extend fiber optic to the TIF District # 1 commercial properties to include:
Aurora Arts Center
Paramount Theatre
North Island Center
Stolp Street
River Street (between Benton Street - Downer Place)
Old District 129 Administration building
Family Counseling Center
PURPOSE:
To allow for the further development and reuse of both vacant and occupied commercial spaces in TIF District # 1 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. The last grant was for the connection of River Street commercial properties in October 2017 which is currently targeted for completion end by the end of Q1 2018.
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 is included for review purposes. The $75,000 grant represents the estimated amount plus approximately 10% in contingency. Funds are available in account number: 231-1380-419.73-86.
IMPACT STATEMENT:
This request will have a positive impact on the community by allowing commercial users to connect to the City's fiber network and increase business opportunities.
RECOMMENDATIONS:
It is recommended that the TIF #1 Grant in the amount of $75,000 be approved.
cc: Alderman O'Connor, Chairman
Alderman Mesiacos
Alderman Bugg
Alderman Mervine, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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