Aurora Town Square – Financial Status REPORT, General Committee meeting, November 21, 2023

On November 7, the General Committee meeting, the Council requested that staff compile a summary of the current financial status of the Aurora Town Square (previously called Aurora Library Square). This summary to include both capital and operating costs, as well as the tax levy impact of the Aurora Town Square.

Aurora Town Square – Financial Status Report will be discussed at the General Committee meeting on November 21, 2023. After going through this report, I have more questions regarding the Aurora Town Square.

Well, I have questions?

1. Statement from the report: “As shown, the project is currently within budget.” Not true, the Council-approved budget on August 25, 2020, was $51,939,500. Why is there no mention that the budget was increased and the money came from the fundraiser?
2. How much money has the Town been able to raise through fundraising for the Aurora Town Square to date? (minus approximately $60K for consultants)
3. What happened to the Aurora Hydro Reserves? Does this reserve still exist?
4. How are the contingency funds calculated?
5. The Grand Opening Celebrations have been proposed to cost approximately $100,000 over the 28-day showcase. This cost is to be partially offset by revenues from sponsorships and ticket sales. Does this mean that the 28-day celebration will not be free?
6. Lastly, why is this project almost 2 years behind? The original aggressive completion date was scheduled for September 2022.

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Town of Aurora 2019 Year in Review, My Perspective

Church Street School, Construction Site (Photo Gallery)

Library Square, Concerned Community Members – In Photos