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Finance committee tables Fox Valley Music Foundation five-year lease request to gather more information
Summary
The Aurora Finance Committee voted 5-0 on Jan. 29 to hold for two weeks a requested five-year extension of the Fox Valley Music Foundation lease for 19–21 South Broadway so staff can collect market comparables and the venue can present details on renovation scope and finances.
Brian Caputo, the city’s chief operating officer, told the Aurora Finance Committee on Jan. 29 that the Fox Valley Music Foundation is asking for a five-year extension of its lease at 19–21 South Broadway so it will have assurance to invest in restroom renovations. “So they asked for a 5 year extension,” Caputo said.
Caputo told aldermen the lease currently expires in 2027, that the rent would remain the same and that the city increased the insurance requirements; he described the annual in-lieu amounts as $1,185 per year in place of real-estate taxes and…
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