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TO: The Mayor and City Council
FROM: Jessica Kalal
Assistant Corporation Counsel
DATE: May 26, 2020
SUBJECT:
Rent deferrals for City tenants due to COVID-19
PURPOSE:
The purpose of this resolution is to authorize the Director of Finance to enter into rent deferral agreements on behalf of the City with its various tenants.
BACKGROUND:
The City has received requests from several of its tenants for rent deferrals due to lost revenue as a result of COVID-19. The City Council approved a rent deferral agreement with Subway at its April 28, 2020 meeting (R20-099). The City has received additional requests from other tenants requesting similar reductions in rent due to COVID-19.
DISCUSSION:
The proposed resolution will authorize the Director of Finance to enter into rent deferral agreements on behalf of the City with those City tenants affected by COVID-19. This would provide for a more efficient process and negate the need to seek City Council approval each time for similar agreements.
IMPACT STATEMENT:
The impact on the City is positive as the City will be assisting local businesses by allowing for a rent reduction due to COVID-19. The proposed resolution will allow City staff to respond to and work with City tenants quicker and more efficiently as these requests are made.
RECOMMENDATIONS:
That the Council approve this Resolution.
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution authorizing the Director of Finance to enter into rent deferral agreements with City tenants who have experienced a loss of revenue as a result of COVID-19.
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the pro...
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