Joint Review Board Packet 2011 03-22-11 (Fox Industrial TIF) AGENDA
ANNUAL JOINT REVIEW BOARD OF THE UNITED CITY OF YORKVILLE
FOR THE FOX INDUSTRIAL PARK REDEVELOPMENT PROJECT AREA
March 22,2011 United City of Yorkville, City Hall 1:30 p.m.
800 Game Farm Road, Yorkville,Illinois
1. Roll Call United City of Yorkville
Kendall Township
Kendall County
Waubonsee Community College Dist.#516
Yorkville School Dist#115
Bristol-Kendall Fire Protection District
Bristol Township
2. Call Meeting To Order
3. Motion to elect or re-elect Public Member
4. Motion to elect or re-elect Chairperson
5. Review of Annual Report for Fox Industrial Redevelopment Project Area
6. Discussion
7. Adjournment
NOTICE OF ANNUAL MEETING OF JOINT REVIEW BOARD
Kendall Township Kendall County
9513 Walker Road 111 West Fox Street
Yorkville,Illinois 60560 Yorkville,Illinois 60560
Waubonsee Community College Dist.#516 Yorkville School District#115
Route 47 at Waubonsee Drive 602 Center Parkway,#A
Sugar Grove,Illinois 60554 Yorkville,Illinois 60560
Bristol-Kendall Fire Protection District United City of Yorkville
103 East Beaver Street 800 Game Farm Road
Yorkville,Illinois 60560 Yorkville,Illinois 60560
Bristol Township
9075 Corneils
Bristol,Illinois 60512
YOU ARE HEREBY NOTIFIED that a meeting of the annual Joint Review Board(s)to review the
annual reports for the Fox Industrial Park,Downtown,and US Route 34/IL Route 47 Countryside Shopping Center
Tax Increment Financing Redevelopment Project Areas will be convened on March 22,2011 at 1:30 p.m.at the
United City of Yorkville,City Hall,800 Game Farm Road,Yorkville,Illinois 60560.
PLEASE BE ADVISED that the Joint Review Board(s)shall elect or re-elect a public member as well as a
chairperson. In accordance with the provisions of the Tax Increment Allocation Redevelopment Act(the"Act")(65
ILCS 5/11-74.1-1,et seq.),the Joint Review Board(s)shall review the annual report(s)for the Fox Industrial Park,
Downtown,and the US Route 34/IL Route 47 Countryside Shopping Center Redevelopment Project Areas.
/s/Jackie Milschewski,Village Clerk
SECTION 2[Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.]
Name of Redevelopment Project Area: Fox Industrial Parts Area
Primary Use of Redevelopment Project Area*: Industrial
If"Combination/Mixed"List Component Types:
Under which section of the Illinois Municipal Code was Redevelopment Project Area designated?(check one):
Tax Increment Allocation Redevelopment Act_X Industrial Jobs Recovery Law
No Yes
Were there any amendments to the redevelopment plan, the redevelopment project area, or the State
Sales Tax Boundary?[65 ILCS 5/11-74.4-5(d)(1)and 5/11-74.6-22(d)(1)]
If yes.please enclose the amendment labeled Attachment A X
Certification of the Chief Executive Officer of the municipality that the municipality has compiled with all of
the requirements of the Act during the preceding fiscal year.[65 ILCS 5111-74.4-5(d)(3)and 5111-74.6-
22(d)(3)]
Please enclose the CEO Certification labeled Attachment B X
Opinion of legal counsel that municipality is in compliance with the Act.[65 ILCS 5111-74.4-5(d)(4)and
5111-74.6-22(d)(4)]
Please enclose the Legal Counsel Opinion labeled Attachment C X
Were there any activities undertaken in furtherance of the objectives of the redevelopment plan,Including
any project Implemented In the preceding fiscal year and a description of the acllvllles undertaken? [65
ILCS 5111-74.4-5(d)(7)(A and B)and 5111-74.6-22(d)(7)(A and B)]
If ves.Please enclose the Activltles Statement labeled Attachment D X
Were any agreements entered into by the municipality with regard to the disposition or redevelopment of
any property within the redevelopment project area or the area within the State Sales Tax Boundary? [65
ILCS 5H 1-74.4-5(d)(7)(C)and 5111-74.6-22(d)(7)(C)]
If yes,please enclose the Agreement(s) labeled Attachment E X
Is there additional Information on the use of all funds received under this Division and steps taken by the
municipality to achieve the objectives of the redevelopment plan? [65 ILCS 5111-74.4-5 (d)(7) (D) and
5111-74.6-22(d)(7)(D)]
if ves. Please enclose the Additional information labeled Attachment F X
Did the municipallty's TIF advisors or consultants enter into contracts with entities or persons that have
received or are receiving payments financed by tax Increment revenues produced by the some TIF? [65
ILCS 5111-74A-5(d)(7)(E)and 5111-74.6-22(d)(7)(E)]
If yes,please enclose the contract(s)or description of the contract(s)labeled Attachment G X
Were there any reports or meeting minutes submitted to the municipality by the joint review board? [65
ILCS 5111-74.45(d)(7)(F)and 5111-74.6-22(d)(7)(F)]
If yes.please enclose the Joint Review Board Report labeled Attachment M X
Were any obilgatlons issued by municipality?[65 ILLS 5111-74.4-5(d)(8)(A)and
5111-74.6-22(d)(8)(A)]
If yes,please enclose the Official Statement labeled Attachment I X
Was analysis prepared by a financial advisor or underwriter setting forth the nature and term of obllgatlon
and projected debt service Including required reserves and debt coverage? [65 ILCS Sf11-74.4-5 (d)(8)
(8)and 5111-74.6-22(d)(8)(8)]
If ves. Please enclose the Analysis labeled Attachment J X
Cumulatively, have deposits equal or greater than $100,000 been made into the special tax allocation
fund?65 ILCS 5111-74.4-5(d)(2)and 5111-74.6-22(d)(2)
If yes,please enclose Audited financial statements of the special tax allocation fund
labeled Attachment K X
Cumulatively, have deposits of incremental revenue equal to or greater than $100,000 been made Into
the special tax allocation fund?65 ILCS 5/11-74.4-5(d)(9)and 5111-74.6-22(d)(9)
If yes, please enclose a certified letter statement reviewing compliance with the Act labeled
Attachment X
A list of all Intergovernmental agreements In effect in FY 2010,to which the municipality Is a part,and an
accounting of any money transferred or received by the municipality during that fiscal year pursuant to
those Intergovernmental agreements.[65 ILCS 5111-74.4-5(d)(10)]
If yes.please enclose list only of the intergovernmental agreements labeled Attachment M X
•Types Include:Central Business District, Retail, Other Commercial, Industrial, Residential,and Combination/Mixed.
SECTION 3,1.(65 ILCS 5111-74.45(d)(5)and 65 ILCS 5111-74.6.22(d)(5))
Provide an analysis of the special tax allocation fund.
Reporting Year Cumulative
Fund Balance at Beginning of Reporting Period $ 285 643
Revenue/Cash Receipts Deposited in Fund During Reporting FY:
%of Total
Property Tax Increment $ 216,677 $ 869,750 98%
State Sales Tax Increment 0%
Local Sales Tax Increment 0%
State Utility Tax Increment Ooh
Local Utility Tax Increment 0%
Interest S 45 S 21,506 2%
Land/Building Safe Proceeds 0%
Bond Proceeds 0%
Transfers from Municipal Sources Ooh
Private Sources Ooh
Other(identify source ; if multiple other sources,attach
schedule)
0%
Total Amount Deposited in Special Tax Allocation
Fund During Reporting Period I $ 216,721
Cumulative Total Revenues/Cash Receipts 1 $ 891,255 100%
Total Expenditures/Cash Disbursements(Carried forward from Section 32) $ 79,013
Distribution of Surplus $ _
Total Expenditures/Disbursements $ 79,013
NET INCOMEICASH RECEIPTS OVERI(UNDER)CASH DISBURSEMENTS $ 137,709
FUND BALANCE, END OF REPORTING PERIOD $ 423,352
-If there is a positive fund balance at the end of the reporting period,you must complete Section 3.3
FY 2010 TIF Name: Fox Industrial
SECTION 3.2 A-(65 ILCS 5111-74.4-5(d)(5)and 65 ILCS 5111-74.6.22(d)(5))
ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECWL TAX ALLOCATION FUND
(by category of permissible redevelopment cost,amounts expended during reporting peri)d)
FOR AMOUNTS>$10,000 SECTION 3.2 B MUST BE COMPLETED
Category of Permissible Redevelopment Cost(65 ILCS 5111-74.4.3(q)and 65 ILCS 5111-74.6-10(o)]
Winn Fl y€id You
1.Costs of studies,administration and professional services--5ubsediotss 1 and o 1 Rep
Administrative Fees 1.22,D
5
1,220
2.Cost of Marketing site"ubsec6ons 1.6 and(o)(1-6)
3. Property assembly, demolition, site preparation and environmental site improvement c.sls.
Subsection 2,(o X2)and(o)(3)
4. Costs orf rehablillation, reconstruction, repair or remodeling ancl replacement ot existing Pr&3c —i buildings.Subsection 3 and(o)(4)
5-Costs of construction of public works and Improvements.Subsection 4 and o 5
I -
6.Costs of removing contaminants required by environmental laws or rules(o)(6)-Industriel }Dbs.
Recovery TIFs ONLY
FY 2010 TIF Name:Fox Induslriel
7.Cost of job[raining and retraining,Including"welfare to work"programs Subsection{q}(5),(6)(7)
and(o)(12)
8.Financing costs.Subsection B and(o)(8)Principal $5 Qtdt]
Interest y 12,793
*� 77,753
9.Approved capital costs.Subsection 7 and(o)(9) e
10. Cost of Reimbursing school districts for their increased costs caused by TIF assisted housing
projects,Subsection 7.5 -Tax Increment Allocation Redevelopment TIFs ONLY
11.Relocation costs.Subsection B and(a)(1 0
12.Payments in lieu of taxes.subsection 9 and o 11 i
13. Costs of job training, retraining advanced vocational or career education provided by o1mr
taxing bodies.Subsection 10 and(o)(12)
1
FY 2010 TIF blame;Fox Industrial
14. Costs of reimbursing private developers for Interest expenses incurred on apprc-rev
redevelo menl projects.Subsection 11)(A-E)and a 13 A-E
d
15. Costa of construction of new housing units for tow income and very low-income househoki6
Subsection 11 -Tax Increment Allocation Redevelopment TIFs ONLY
i
16. Cost of day care services and operational costs of day care centers.Subsection (q) (11.5)
Tax Increment Allocation Redevelopment TIFs ONLY
Y
TOTAL ITEMIZED EXPENDITURES 1 $ 79.013
FY 2010 TIF Name;Fox industrial
Section 3.2 B
List all vendors, including other municipal funds,that were paid In excess of$10,000 during the current
reporting year.
There were no vendors,including other municipal funds, paid in excess of
$10,000 during the current reporting period.
Name Service Amount
The Bank of New York Paying Agent $ 77,793
FY 2010 TIF Name: Fox Industrial
SECTION 3.3-(65 ILCS 5111-74.4-5(d)(5)65 ILCS 11-74.6-22(d)(5))
Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period
(65 ILCS 5111-74.4-5(d)(5)(D)and 65 ILCS 5111-74.6-22(d)(5)(D))
FUND BALANCE, END OF REPORTING PERIOD $ 423 352
Amount of Original
Issuance Amount Designated
1,Description of Debt Obligations
General Obligation Bonds Series 2002 $ 280,000 $ 215,000
Total Amount Designated for Obligations $ 280,0001 $ 215,000
2.Description of Project Costs to be Paid
Total Amount Designated for Project Costs Is -
TOTAL AMOUNT DESIGNATED $ 215,000
SURPLUS'1(DEFICIT) $ 208,352
NOTE: If a surplus Is calculated,the municipality may be required to repay the amount to overlapping taxing
FY 2010 TIF Name: Fox Industrial
SECTION 4 [65 ILCS 5111-74.4-5(d)(5)and 65 ILCS 5111-74.5-22(d)(6)]
Provide a description of all property purchased by the mun[cipallty during the reporting fiscal year within the
redevelopment project area.
X No property was acquired by the Municipality Within the Redevelopment Project Area
Property Acquired by the Municipality Within the Redevelopment Project Area
Propert 7 :
Street address:
Approximate size or description of property:
Purchase rice:
Seller of property:
Property 2 :
Street address:
Approximate size or description of property:
Purchase rice:
Seller of property:
Property(3):
Street address_
Approximate size or description of re
Purchase price,
Seller of property:
Property 4 :
Street address:
Approximate size or description of ro
Purchase price:
Seller or property:
FY 2010 TIF Name: Fox Industrial
SECTION 5-65 ILCS 5/11.74.4-5(d)(7)(G)and 65 ILCS 5/11-74.6-22(d)(7)(G)
Please include a brief description of each project.
X No Projects Were Undertaken by the Municipality Within the Redevelopment Project Area
Estimated
Investment for
Subsequent Fiscal Estimated Cost of
1111!39 to Date Year the Total project
TOTAL:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Prtvate/Public Investment 0 0
Project 1:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 2:
Private Investment Undertaken See Instructions)
Public Investment Undertaken
Ratio of PrivatelPublic Investment 0 0
Project 3;
Private Investment Undertaken(See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 4:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 5:
Private Investment Undertaken See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
FY 2010 TIF Name: Fox Industrial
Optional: Information in the following sections is not required by law, but would be helpful in evaluating the
performance of TIF in Illinois.
SECTION 6
Provide the base EAV(at the time of designation)and the EAV for the year reported for the redevelopment project area
Year redevelopment
project area was Reporting Fiscal Year
designated Base EAV EAV
5/10/2001 $ - is 5,367.644
List all overlapping tax districts in the redevelopment project area.
If overlapping taxing district received a surplus,list the surplus.
X The overlapping taxing districts did not receive a surplus.
Surplus Distributed from redevelopment
Overlapping Taxing District project area to overlapping districts
$
$
SECTION 7
Provide Information about fob creation and retention
Description and Irype
Number of Jobs Number of Jobs (Temporary or
Retained Created Permanent)of Jobs Total Salaries Paid
$ -
SECTION 8
Provide a general description of the redevelopment project area using Dilly ma or boundaries:
Optional Documents Enclosed
Legal description of redevelopment project area
Map of District
FY 2010 TIF Name: Fox Industrial
Attachment B
cj
�"� United City of Yorkville
800 Game Farm Road
Yorkville Illinois 60560
0 h� - o Telephone: 630-553-4350
SUE
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
I, Valerie Burd, Mayor of the United City of Yorkville, Kendall County, Illinois,
certify that the City has complied with all of the requirements of the Tax Increment
Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq. during the Fiscal year
ending April 30, 2010, in connection with the administration of the Fox Industrial
Park Area Tax Increment Financing District.
� -3
UAZQ-
Valerie Burd, Mayor
Attachment C
LAW OFFICE
Kxr*axHv FuRy ORR & AssocIATEs
53 WEST JAC KSON 2LVO.
SUIT[Es3
CHICAGO,ILLINOIS a00104
is 30taI Ia
FAX,13121 302-2127
KATHLEEN FIELD ORR JAMES W.BINNINGER
kfb@kfoassoc.com jwb@kfoassoc.com
January 27,2011
Judy Barr Topinka, State Comptroller
State of Illinois Building
100 West Randolph Street
Suite 15-500
Chicago, Illinois 60601
Dear Ms.Topinka:
I. James W. Binninger, acted as special "rlF' Counsel for the United City of Yorkville,
Kendall County, Illinois, in connection with the Fox Industrial Park Tax Increment Finance
Redevelopment Project Area.
I have reviewed all of the information provided by the City Administration and to the
best of my knowledge and belief find that the United City of Yorkville, Illinois, has complied
with all of the applicable provisions of the Illinois Tax Increment Allocation Redevelopment Act
(65 ILCS 5111-74.4-1 at seq.)for the fiscal year ending April 30,2010.
Very truly yours,
KATHLEEN FIELD ORR&ASSOCIATES
�A3
dames W. Benninger
ATTACHMENT C
ATTACHMENT
UNITED CITY OF YORKVILLE,ILLINOIS
Fox Industrial,Countryside,and Downtown
Special Tax Allocation Funds
Schedule of Revenues,Expenditures and Changes in Fund Balance
Year Ended A pril.30 2010
Fox industrial Countryside Downtown
Tax Increment Tax Increment Taal Incramem
Financing Financing Financing
District District District
Fund Fund Fund
Revenues
Property Tax $ 216,677 6,250 88,550
Investment Income 44 8,223
Total Revenues 216,721 14,473 88,550
Expenditures
Community Development
Administration Fees 1,220 999 1,831
Debt Service
Principal 65,000 165,000
Interest 12,793 142,869
Total Expenditures 79,013 308,868 1,831
Net Change in Fund Balance 137,708 (294,395) 86,719
Fund Balance
may I 2B5,643 2,772,153 49,575
April 30 S 423,351 2477,759 136,294
3
Attachment L
United City of Yorkville,
Illinois
Report on Compliance
With Illinois Public Act 85-1142
For the Year Ended
April 30,2010
Wolf & Company LLP
Certified Public Accountants
INDEPENDENT AUDITOR'S REPORT
Wolf Company LLP X Z
A Ull'Financial Group blember
CHEDULE L
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE
The Honorable Mayor
Members of the City Council
United City ofYorkville,Illinois
We have audited the basic financial statements of the United City of Yorkville, Illinois for the year ended
April 30,2010,and have issued our report thereon dated January 18,2011.
We have also audited the Village's compliance with the provisions of subsection(q)of Section 1]-74.4-3 of
the Illinois Tax Increment Redevelopment Allocation Act(Illinois Public Act 65-1142) relating to the Fox
Industrial, Countryside and Downtown Tax Increment Financing Districts. The management of the United
City of Yorkville, Illinois is responsible for the City's compliance with those requirements. Our
responsibility is to express an opinion on compliance with those requirements.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether material noncompliance with the requirements referred to above occurred. An audit includes
examining, on a test basis, evidence about the United City of Yorkville, Illinois' compliance with those
requirements. We believe that our audit provides a reasonable basis for our opinion.
In our opinion,the United City of Yorkville,Illinois complied,in all material respects,with the requirements
of subsection (c)of Section 1 1-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act(Illinois
Public Act 85-1 142).
Oakbrook Terrace,Illinois
January 18,2011
PKF1901 S.]Meyers Road.Suite 500 a Oakbrook Terrace, Illinois 60181-6209
A PK fntampdonar Mambar Firm 630.545.4500 mdiur 1 630.574.7818 fax . www-wolfcpaxvtn
SUPPLEMENTARY INFORMATION
Wolf Company LLP
INDEPENDENT AUDITOR'S REPORT
ON SUPPLEMENTARY INFORMATION
The Honorable Mayor
Members of the City Council
United City of Yorkville,Illinois
We have audited the basic financial statements of the United City of Yorkville, Illinois for the year ended
April 30,2010, and have issued our report thereon dated January 16,2011. The financial statements are the
responsibility of the United City of Yorkville, Illinois' management. Our responsibility is to express an
opinion on the basic financial statements based on our audit.
Our audit was made in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan,and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts, and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis
for our opinion.
Our audit was made for the purpose of forming an opinion on the basic financial statements of the United
City of Yorkville, Illinois taken as a whole. The accompanying schedule of revenues, expenditures, and
changes in fund balance of the Fox Industrial,Countryside and Downtown Tax Increment Financing District
Funds is presented for purposes of additional analysis and is not a required part of the basic financial
statements. The information in this schedule has been subjected to the auditing procedures applied in the
audit of the basic financial statements and, in our opinion, is fairly presented in all material respects in
relation to the basic financial statements taken as a whole.
GJ� f � ��P
Oakbrook Tee,Illinois
January 18,2011
PKF1901 S.Meyers Road,Suite 500 . Oakbrook Terrace, Illinois 60181-5209
APK W NWmber Firm 630.645.4500 main - 630.674.7818far ■ wv wolfcpa.wm