The building at 7 S. Broadway in downtown Aurora could be home for a new Italian restaurant under a proposed redevelopment deal between the restaurant’s owners and the city of Aurora.
Officials in the Mayor’s Office of Economic Development have said they are in the final stages of negotiating a deal with restaurant owners Chris and Mehgan Curren, as well as their developers Frontier Development, LLC, owned by Conrad and Curt Hurst. “They were being solicited by a number of municipalities,” he said. “They liked downtown Aurora, and they fell in love with the building.”
Dibo said with the redevelopment, the taxes generated are estimated to go up to $21,000 a year. The property is in Tax Increment Financing District 10, which means the increase, or about $18,000 a year, would go into the increment.Dibo said the restaurant is estimated to generate about $1.5 million in receipts a year, also paying sales taxes and the city’s food and beverage tax. That would generate $60,000 to $70,000 a year in those taxes, he said.
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