Officials from both Aurora and Penn Entertainment Thursday painted Hollywood Casino’s proposed move from the city’s downtown as necessary — and good — for the community.
This rendering gives an idea of what the Hollywood Casino project may look like that is planned for Farnsworth Avenue near Interstate 88 in Aurora.
“We can show traditional return on investment, but there are so many intangibles,” said Alex Alexandrou, the city’s chief management officer. “If you look at how the community decided to use the funds , we’re going to take that to the next level.” Members of the Finance Committee voted to recommend the redevelopment agreement, which now will go before the full council for the first time at Tuesday’s Committee of the Whole meeting.
Penn Entertainment would not only spend more than $300 million to build the new casino, but it would agree to demolish the existing casino building downtown and transfer the pad it was built on to the city. It also would relinquish any leases it has on the two casino parking lots downtown and the office space in them to make those buildings city-controlled.
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