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Aurora council approves two downtown redevelopment agreements, staff say TIF increment pays costs
Summary
The council approved a third-amendment redevelopment deal with DAC Development and a renovation agreement with Barrera Organization for properties downtown, with staff explaining higher costs stem from environmental remediation and that incentive payments come from TIF increment—not general taxpayer funds.
The Aurora City Council on Sept. 24 approved two redevelopment agreements for downtown projects, including a third amended agreement with DAC Development and a separate agreement with the Barrera Organization for 116 West Galena Boulevard.
Alderman Lesch criticized the DAC amendment as “corporate welfare,” saying rents cited in debate — "$1,700 for a 1 bedroom or $2,300 for a 2 bedroom" — were out of line with affordability for…
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