Business & Tech
2 Redevelopment Projects Proposed For Downtown Aurora
The projects would be funded through a low-interest loan through the city's redevelopment corporation
Invest Aurora is proposing two redevelopment projects for city-owned buildings in downtown Aurora, according to the Beacon News. The buildings, 59 S. LaSalle St. and 55 S. Lake St., would be sold for $10 eachto separate developers, who would put down a deposit for their redevelopment plans.
59 S. LaSalle St. would have a commercial space on the first floor and apartments on the second floor. Both developers have agreed to make improvement to other buildings they own in the area.
Invest Aurora is the city's nonprofit redevelopment corporation. The projects would be funded through low interest loans through a $1.2 million revolving loan fund. The fund was established by the Dunham Fund and local banks.
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The city council will review the proposal next week and vote on the proposal in two weeks.
Photo: "Aurora, IL" by Mike Steele via Flickr (https://www.flickr.com/photos/...)
Find out what's happening in Aurorafor free with the latest updates from Patch.
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