Finance Committee — Aurora, IL
Date: 2023-07-13

City Hall - 5th Floor
 City of Aurora
 44 East Downer Place
 Aurora, IL
 Finance Committee

 Agenda - Final Chairperson Carl Franco
 Vice Chair Edward J. Bugg
 Thursday Alderwoman Shweta Baid
 Alderman Ron Woerman
 July 13, 2023
 3:00 PM


 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

 ROLL CALL

 APPROVAL OF MINUTES

23-0485 Approval of the minutes of the Finance Committee meeting held on June 15, 2023.

23-0517 Approval of the minutes of the Finance Committee meeting held on June 29, 2023.

 PUBLIC COMMENT

 AGENDA

23-0486 A Resolution Authorizing Execution of a First Amended Agreement for Provision of
 Services at the City of Aurora’s Financial Empowerment Center with The Neighbor
 Project (TNP).

23-0519 A Resolution authorizing the city to accept a grant award of $192,779 from the
 State of Illinois Department of Commerce and Economic Opportunity with the city
 to contribute $192,779 in matching funds to host "Luminosity," a month-long
 celebration of light to be held from September 6, 2024, through October 5, 2024.

23-0529 A Resolution authorizing the renewal of the Line of Credit (LOC) in the amount of
 $10 million with Old Second National Bank for a one-year term expiring on June
 30, 2024.

23-0533 A Resolution authorizing the execution of a redevelopment agreement providing
 for a forgivable and a non-forgivable loan to Lazaro Rs Corp, Inc., operating under
 the assumed business name of La Quinta De Los Reyes.

 CLOSED SESSION


City of Aurora Page 1 Printed on 7/11/2023
Finance Committee Agenda - Final July 13, 2023


 ADJOURNMENT

 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 2 Printed on 7/11/2023

City Hall - 5th Floor
 City of Aurora
 44 East Downer Place
 Aurora, IL


 Finance Committee
 Meeting Minutes - Final
 Thursday
 July 13, 2023
 3:00 PM
 Chairperson Carl Franco
 Vice Chair Edward J. Bugg
 Alderwoman Shweta Baid
 Alderman Ron Woerman


 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

 Chairman Franco called the meeting to order at 3:04 p.m.


 ROLL CALL

 Present: 4 - Chairperson Carl Franco, Vice Chair Edward Bugg, Alderwoman Shweta
 Baid and Alderman Ron Woerman

 APPROVAL OF MINUTES

 23-0485 Approval of the minutes of the Finance Committee meeting held on June
 15, 2023.
 A motion was made by Alderman Woerman, seconded by Alderwoman Baid,
 that the minutes be accepted and filed. The motion carried.

 Ayes: 4


 23-0517 Approval of the minutes of the Finance Committee meeting held on June
 29, 2023.
 A motion was made by Alderman Woerman, seconded by Alderwoman Baid,
 that the minutes be accepted and filed. The motion carried.

 Ayes: 3

 Nayes: 1




City of Aurora Page 1
Finance Committee Meeting Minutes - Final July 13, 2023



 PUBLIC COMMENT

 Kim Woodin, La Quinta; Rebekah Axtell, La Quinta; Gil Rios, La Quinta


 AGENDA

 23-0486 A Resolution Authorizing Execution of a First Amended Agreement for
 Provision of Services at the City of Aurora’s Financial Empowerment
 Center with The Neighbor Project (TNP) .
 Presented by Marty Shanahan, Community Services.

 A motion was made by Alderwoman Baid, seconded by Alderman Woerman,
 that this agenda item be recommended for approval. The motion carried.

 Ayes: 4


 23-0519 A Resolution authorizing the city to accept a grant award of $192,779
 from the State of Illinois Department of Commerce and Economic
 Opportunity with the city to contribute $192,779 in matching funds to host
 "Luminosity," a month-long celebration of light to be held from September
 6, 2024, through October 5, 2024.
 Presented by Jen Evans, Public Art; Alex Alexandrou, Mayor's Office; 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


 23-0529 A Resolution authorizing the renewal of the Line of Credit (LOC) in the
 amount of $10 million with Old Second National Bank for a one-year term
 expiring on June 30, 2024 .
 Presented by Chris Minick, Finance.

 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




City of Aurora Page 2
Finance Committee Meeting Minutes - Final July 13, 2023



 23-0533 A Resolution authorizing the execution of a redevelopment agreement
 providing for a forgivable and a non-forgivable loan to Lazaro Rs Corp,
 Inc., operating under the assumed business name of La Quinta De Los
 Reyes.
 Presented by David Dibo, Economic Development; Claudia Urrutia, La Quinta; Jesus
 Sanchez, La Quinta; Arianna Urrutia, La Quinta; Lane Allen, Allen Pepa Architects;
 John Curley, Development Services.

 A motion was made by Alderman Woerman, seconded by Vice Chair Bugg,
 that this agenda item be recommended for approval. The motion carried.

 Alderman Bugg left the meeting at 4:36 p.m. and returned at 4:38 p.m.

 Ayes: 4


 CLOSED SESSION


 ADJOURNMENT

 A motion was made by Alderman Woerman, seconded by Alderwoman Baid,
 that this meeting be adjourned. The motion carried. Chairman Franco
 adjourned the meeting at 4:40 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