Aurora is looking at ending Tax Increment Financing District 3 in the city’s downtown.
The TIF area, known as the River City Area TIF District, was created in 2000 and was just south of TIF District 1, which was the TIF district on most of downtown. The River City Area TIF District is set to expire by the end of this year, and TIF District 1 expired last year. The boundary of the River City Area TIF District straddles both sides of the Fox River, generally east of River Street, north of North Avenue, south of Benton Street and west of LaSalle Street.
The Cross Street TIF District was established in September and is related to redevelopment of a former industrial warehouse at 110 Cross St., just off River Street, in the southwest corner of downtown. It takes in two buildings and a vacant lot at River and Cross. One of the buildings is a 15,000-square-foot former industrial building that would be converted into 15 apartments on the upper floors, and a brewpub on the ground floor. The other building is currently the Endiro Coffee roasters.
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