Finance Committee

City Hall-5th Floor City of Aurora Conference Room 44 East Downer Place Aurora, IL Finance Committee Meeting Minutes - Final Thursday October 12, 2023 3:00 PM Chairperson Carl Franco Vice Chair Edward J. Bugg Alderwoman Shweta Baid Alderman Ron Woerman Alderman Brandon Tolliver 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 Carl Franco called the meeting to order at 3:02 p.m. ROLL CALL Present: 4 - Chairperson Carl Franco, Vice Chair Edward Bugg, Alderwoman Shweta Baid and Alderman Ron Woerman Absent: 1 - Alderman Brandon Tolliver APPROVAL OF MINUTES 23-0794 Approval of the minutes of the Finance Committee meeting held on September 28, 2023. A motion was made by Alderman Woerman, seconded by Alderwoman Baid, 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 October 12, 2023 23-0796 An Ordinance Terminating the Designation of the River City Tax Increment Financing Redevelopment Project Area and Dissolving the River City Special Tax Increment Allocation Fund. Presented by Chris Minick, Finance Department. A motion was made by Alderman Woerman, seconded by Alderwoman Baid, that this agenda item be recommended for approval. The motion carried. Ayes: 4 23-0784 A Resolution authorizing the city to accept a grant award of $487,000 from the Illinois Housing Development Authority (IHDA)-Strong Communities Program Round 2 for the maintenance and demolition of abandoned and blighted residential properties . Presented by Ruthy Harris, Property Standards. A motion was made by Alderwoman Baid, seconded by Alderman Woerman, that this agenda item be recommended for approval. The motion carried. Ayes: 4 23-0809 A Resolution Authorizing an Intergovernmental Agreement between the City of Aurora and Batavia Public School District No. 101 concerning tax increment financing districts in the vicinity of Farnsworth Avenue and Bilter Road. Presented by Trevor Dick, Economic Development. A motion was made by Alderman Woerman, seconded by Vice Chair Bugg, that this agenda item be recommended for approval. The motion carried. Ayes: 4 23-0805 Acceptance of the 2022 Annual Financial Reports for the City, TIF funds, and Single Audit and GATA Reports. Presented by Linda Read, Accounting and Jim Savio, Sikich. This Reports/Studies was discussed. 23-0813 Information Only - Overview Discussion of 2024 Budget. Presented by Chris Minich, Finance. This Information/Discussion Only was discussed. CLOSED SESSION City of Aurora Page 2 Finance Committee Meeting Minutes - Final October 12, 2023 ADJOURNMENT A motion was made by Alderwoman Baid, seconded by Vice Chair Bugg, that this meeting be adjourned. The motion carried. Chairman Franco adjourned the meeting at 4:01 p.m. Ayes: 4 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 3