Diane Moca: Welcome to Talking Cities, Aurora. I'm Diane Moca, and these are the headlines in our city this week. The big empty lot next to Jake's Bagels may be the site of a tax increment finance or TIF district. Last year, Aurora released artist renderings for what was supposed to become the city's largest residential project ever. The redevelopment plan states, "To establish a TIF district (also known as a Redevelopment Project Area or RPA), Illinois municipalities must adopt several documents, including a TIF Redevelopment Plan." The plan goes on to say, "It is further found and certified by the city that the RPA contains less than 75 inhabited residential units. Therefore, this plan does not include a housing impact study." The announcement made last year that DAC developments would build a $70 million housing complex with 246 apartments and receive $6.7 million in incentives from the city. The redevelopment plan reported by the finance committee recently included $10.5 million for an unnamed developer.
Those funds could be used to cover interest on loans as well as job training and daycare for employees. Aurora's welcoming another new storage facility, more than four acres of land at 410 Hill Avenue behind Forest Ridge Apartments is going to house 104,000 square feet of indoor storage units according to Alderman Scheketa Hart-Burns. The space will also offer vehicle storage. It's three and a half miles away from the former Carson store on Lake Street purchased by Storage of America. Residents have spoken out against converting that 187,000 square foot building in the Northgate Shopping Center into storage units. They have complained the city does not need that many storage buildings, and they're trying to convince Alderman to overturn their approval of the Lake Street project. The city had no comment on the expected opening date of the Hill Avenue storage business. Powell Aurora Storage purchased that property more than a year ago. From Talking Cities, Aurora, I'm Diane Moca, and those are the weeks trending topics.
Developers May Get About $10 Million, New York Company Constructing Aurora Self Storage