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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionCity of Aurora
Jurisdiction type: Municipality
Fiscal year ending In2022
Program nameTax Increment Financing (TIF)
Program purpose: General Economic Development
Statutory authority: Aurora Urban Renewal Authority
Abating jurisdiction(s): City of Aurora
Applicable taxesUse Tax; Sales Tax; Personal Property Tax
Method of abatement: Tax Increment Financing (TIF)
Provisions for recapture: (not specified)
Gross revenue loss: $28,750
Reimbursement / offset: $0
Net revenue loss: $28,750
Type of loss: Active
Additional notes on dislosureTotal potential future funding obligation is $223,752,939 which is solely and exclusively payable from the incremental revenues collected on the project except for one agreement that indicates the district mill levy as additional source of revenue; amount to date is $28,750. Paid to date is $70,890,456 which includes $2,359,714 designated to assist the developer and/or the district in its debt issuance directly related to the urban renewal project and for which amount does not reduce the potential future funding obligation. Two of the agreements do not have a potential future funding obligation and the paid to date amount is $161,421,616 which includes a State sales tax of $10,787,773.
Document sourcehttps://www.auroragov.org/common/pages/DownloadFileByUrl.aspx?key=Ze%2b7...