Total Project Costs – $2,827,550
In January of 2019, The city of Aurora, Illinois (the “City”) entered into a Redevelopment Agreement (the “RDA”) with Pizzuti Aurora Industrial, LLC (the “Developer”), which provides for a Tax Increment Financing incentive (“TIF Incentive”) to fund Public Improvements. The Project is for the development of a 274,000 sq. ft. industrial warehouse and distribution facility on 16 acres of land at 211 Mitchell Road in Aurora, Illinois. The RDA stipulates that the TIF Incentive will be for a term of 15 years, which serves as the repayment source for an approximately $2.9 million bond issue to fund the public improvements.
DiPerna Advisors Background
Located in Columbus, Ohio, DiPerna Advisors is a structured and public finance firm that assists both private sector and public sector clients in identifying and structuring capital sources for development projects; often leveraging development incentives to strengthen the project’s return on investment.
If you have a commercial, industrial, retail, infrastructure, mixed-use, assisted living, or energy efficiency financing need, or you want to explore more creative and efficient financing structures to improve the cost of your overall financing stack, please contact us at (614) 826-2135 or see our “Contact Us” link below.
Since its founding in 2011 by Michael DiPerna, DiPerna Advisors has structured and closed over 240 transactions for approximately $1.95 billion in capital investment. Visit https://www.dipernafinancial.com or click one of the links below to learn more about how DiPerna can assist in financing your project. DiPerna Advisors is a registered Municipal Advisor with the Securities & Exchange Commission and the Municipal Securities Rulemaking Board.