Finance Committee

City Hall - 2nd Floor City of Aurora Council Chambers 44 East Downer Place Aurora, IL Finance Committee Meeting Minutes - Final Thursday March 02, 2023 3:00 PM Chairperson Carl Franco Vice Chair Sherman Jenkins Alderwoman Shweta Baid Alderman Edward J. Bugg Alderwoman Scheketa Hart-Burns Members of the public wishing to provide public comment for this meeting must be physically present at the meeting and registered to speak prior to the meeting being called to order. Please contact the Aldermen’s office at (630) 256-3020 with questions. CALL TO ORDER Chairperson Franco called the meeting to order at 3:08 p.m. ROLL CALL Present: 4 - Chairperson Carl Franco, Alderwoman Shweta Baid, Alderman Edward Bugg and Alderwoman Scheketa Hart-Burns Absent: 1 - Vice Chair Sherman Jenkins APPROVAL OF MINUTES 23-0155 Approval of the minutes of the Finance Committee meeting held on February 16, 2023. A motion was made by Alderwoman Hart-Burns, seconded by Alderman Bugg, that the minutes be accepted and filed. The motion carried. Ayes: 4 PUBLIC COMMENT No registered speakers. AGENDA City of Aurora Page 1 Finance Committee Meeting Minutes - Final March 2, 2023 23-0169 An Ordinance Reserving 2023 Volume Cap in connection with Private Activity Bond Issues, and Related Matters . Presented by Chris Minick, Finance Department. A motion was made by Alderwoman Hart-Burns, seconded by Alderwoman Baid, that this agenda item be recommended for approval. The motion carried. Ayes: 4 23-0178 An Ordinance Calling for a Public Hearing and a Joint Review Board Meeting to Consider the Designation of a Redevelopment Project Area and the Approval of a Redevelopment Plan and Project for the City of Aurora River Vine Tax Increment Financing District . Presented by Alex Minnella, Economic Development. A motion was made by Alderwoman Hart-Burns, seconded by Alderwoman Baid, that this agenda item be recommended for approval. The motion carried. Ayes: 4 23-0108 A Resolution to award monies received for the Corridor Improvements Grant to Scientel Solutions LLC., 2021 N Eola Rd, Aurora, IL 60502 for an amount not to exceed $1,200,000.00 . Presented by Lt. Joe Howe, Aurora Police Department; Tim Kopacz, IT. A motion was made by Alderwoman Hart-Burns, seconded by Alderwoman Baid, that this agenda item be recommended for approval. The motion carried. Ayes: 4 23-0150 A Resolution authorizing the execution of a Phase II Engineering Agreement with Baxter and Woodman, Inc., maximum amount of $39,412.00 and appropriating Motor Fuel Tax Funds for Montgomery Road and Kautz Road Traffic Signal Installation project with MFT Section # 22-00353-00-TL. Presented by Roopa Anjanapa, Engineering. A motion was made by Alderwoman Hart-Burns, seconded by Alderwoman Baid, that this agenda item be recommended for approval. The motion carried. Ayes: 4 23-0157 A Resolution to allow Aurora Public Art to apply for a Kane County Grand Victoria Riverboat Grant in an amount not to exceed $80,000 . Presented by Jen Evans, Aurora Public Art; Marty Shanahan, Community Services. A motion was made by Alderwoman Hart-Burns, seconded by Alderman Bugg, that this agenda item be recommended for approval. The motion carried. City of Aurora Page 2 Finance Committee Meeting Minutes - Final March 2, 2023 Ayes: 4 23-0189 A Resolution authorizing approval of Development Agreement with Leilani Asian Fusion: Leilani Aurora Inc; Buona Italia: River Street Italian Inc; La Ville Lumiere: River Street Bistro Inc a majority owned affiliate of JH Real Estate Partners LLC (JH) for the purpose of facilitating the development of the vacant first floor (and basement for the Leilani RDA) for a full service (Asian Fusion/Italian/French) restaurants in the recently rehabilitated Hobbs and adjacent building together at 2-12 south River Street in downtown Aurora . Presented by Alex Minnella, Economic Development; Elle Withall, Economic Development; Harish Ananthapadmanabhan, JH Real Estate Partners; Jay Punukollu, JH Real Estate Partners. A motion was made by Alderwoman Hart-Burns, seconded by Alderman Bugg, that this agenda item be recommended for approval. The motion carried. Ayes: 4 23-0190 A Resolution authorizing approval of a Development Agreement with JH Real Estate Partners LLC for the rehabilitation of the building at 110 Cross (between River and Middle across from the Jimmy John’s) for conversion of the historic building into 15 market rate apartments and a brewery on the ground floor. Presented by Elle Withall, Economic Development; Harish Ananthapadmanabhan, JH Real Estate Partners; Alex Minnella, Economic Development. A motion was made by Alderwoman Hart-Burns, seconded by Alderman Bugg, that this agenda item be recommended for approval. The motion carried. Ayes: 4 CLOSED SESSION ADJOURNMENT A motion was made by Alderwoman Hart-Burns, seconded by Alderman Bugg, that this meeting be adjourned. The motion carried. Chairperson Franco adjourned the meeting at 4:00 p.m. Ayes: 4 City of Aurora Page 3 Finance Committee Meeting Minutes - Final March 2, 2023 THIS MEETING AGENDA SHALL ALSO SERVE AS NOTICE THAT A MAJORITY OF A QUORUM OF THE CITY COUNCIL OF THE CITY OF AURORA, ILLINOIS MAY ATTEND OR PARTICIPATE IN THIS COMMITTEE MEETING. NO OFFICIAL ACTION OF THE CITY COUNCIL SHALL OCCUR AT THIS COMMITTEE MEETING. MINUTES OF THE COMMITTEE MEETING SHALL CONSTITUTE THE OFFICIAL RECORD OF THE COMMITTEE MEETING AND ANY MEETING OF THE MAJORITY OF THE QUORUM OF THE CITY COUNCIL OCCURRING AT THE SAME TIME AND LOCATION. VISIT OUR WEB SITE FOR CURRENT AGENDAS - https://www.aurora-il.org/985/City-Council-Agendas-Minutes Any individual with a disability requesting a reasonable accommodation in order to participate in a public meeting should contact the Aldermen's Office at least 48 hours in advance of the scheduled meeting. The Aldermen's Office can be reached in person at 60 E. Downer Place, Aurora Illinois, via telephone at 630-256-3020 or email at aldermensoffice@aurora-il.org. Every effort will be made to allow for meeting participation. City of Aurora Page 4