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Joint Review Board Packet 2010 06-08-10 (Countryside) AGENDA ANNUAL JOINT REVIEW BOARD OF THE UNITED CITY OF YORKVILLE FOR THE US ROUTE 34/11,ROUTE 47 COUNTRYSIDE SHOPPING CENTER REDEVELOPMENT PROJECT AREA June 8, 2010 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 District##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(s) for US Route 3411L Route 47 Countryside Shopping Center Redevelopment Project Area 6. Adjournment NOTICE OF MEETING OF JOINT REVIEW BOARD Kendall Township Kendall County 9513 Walker Road 111 West Fox Street Yorkville, Illinois 60560 Yorkville, IIlinois 60560 Waubonsee Community College Dist. #516 Yorkville School District#115 Route 47 at Waubonsee Drive 602 Center Parkway,#A Sugar Grove, Illinois 60554 Yorkville, IIlinois 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 report(s) for the Fox industrial Park, Downtown, and US Route 3411L Route 47 Countryside Shopping Center Tax Increment Financing Redevelopment Project Areas will be convened on June 8, 2010 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 reelect a public member as well as a chairperson. In accordance with the provisions of the Tax Increment Allocation Redevelopment Act (the "Act") (65 ILCS 5111-74.1-1, et seq.), the Joint Review Board(s) shall review the annual report(s) for the Fox Industrial Park, Downtown, and US Route 34/IL Route 47 Countryside Shopping Center Redevelopment Project Areas. Isl Jackie Milschewski, Village Clerk LAW OFFICE KATHLEEN FIELD ORR 8c ASSOCIATES 180 NORTH MICHIGAN AVENUE SUITE 1040 CHICAGO, ILLINOIS 60601 13[2]382.2113 KATHLEEN FIELD ORR FAX. [312]382.2127 LISA GAGLIANO BERNSTEIN kFo @kfoassoc.com Ig6tbkfoassac.com November 12, 2009 Daniel W. Hynes, State Comptroller State of Illinois Building 100 West Randolph Street Suite 15-500 Chicago, Illinois 60601 Re: U.S. Route 34 and 111. Route 47(Countryside Shopping Center) Tax Increment Finance Redevelopment Project Area for the Fiscal Year Ending April 30, 2009 Dear Sir: I, Kathleen Field Orr, am the Tax Increment Financing attorney for the United City of Yorkville, Kendall County, Illinois, and have been such throughout the fiscal year covered by this Report. I reviewed all of the information provided to me by the City Administration and I find that the United City of Yorkville, Illinois, has conformed with all of the applicable provisions of the Illinois Tax Increment Allocation Redevelopment Act. This opinion relates only to the time periods set forth and is based on all information available to me at the end of said fiscal year. Very truly yours, KATHLEEN FIELD ORR& ASSOCIATES KATH EEN FIELD ORR KFO/kms o United City of Yorkville 800 Game Farm Road EST 1836 Yorkville, Illinois, 60560 o� la �.� o Telephone: 630-553-4350 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 5111-74.4-1 et seq. during the fiscal year ending April 30, 2009, in connection with the administration of the U.S. Route 34 and Ill. Route 47 (Countryside Shopping Center) Tax Increment Financing District. Valerie Burd, Mayor SECTION 2 [Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.1 Name of Redevelopment Project Area: U.S. Route 34 and Ill. Route 47 Countryside Shopping Center) Primary Use of Redevelopment Project Area*: Commercial 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 5111-74.4-5 (d) (1) and 5111-74.6-22 (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 complied 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 activities undertaken? [65 ILCS 5111-74.4-5 (d) (7)'(A and B) and 5111-74.6-22 (d) (7) (A and B)] If yes, please enclose the Activities 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 5111-74.4-5 (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 Xes, please enclose the Additional Information labeled Attachment F X Did the municipality'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 same TIF? [65 ILCS 5111-74.4-5 (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 submitted to the municipality by the joint review board? [65 ILCS 5i i 1-74.4-5 (d) (7) (F) and 5/11-74.6-22(d) (7) (F)] If yes, please enclose the Joint Review Board Report labeled Attachment H X Were any obligations issued by municipality? [65 ILCS 5111-74.4-5 (d) (8) (A) and 5/11-74.6-22(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 obligation and projected debt service including required reserves and debt coverage? [65 ILCS 5111-74.4-5 (d) (8) (B) and 5111-74.6-22 (d) (8) (B)] If yes, 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 5/11-74.6-22 (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 5111-74.4-5 (d)(9) and 5111-74.6-22 (d) (9) If yes, please enclose a Certified audit report reviewing compliance with the Act labeled Attachment L X 'Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. FY 2009 TIF Name: US Rte 34 and III. Rte 47 SECTION 3.1 - (65 ILCS 5/11-74.4-5 (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 $ 2,882,609.00 Revenue/Cash Receipts Deposited in Fund During Reporting FY: % of Total Property Tax Increment $ 8,455 $ 16,409 0% State Sales Tax Increment 0% Local Sales Tax Increment 0% State Utility Tax Increment 0% Local Utility Tax Increment 0% Interest $ 37,322 $ 378,872 10% Land/Building Sale Proceeds 0% Bond Proceeds $ 3,506,099 90% Transfers from Municipal Sources 0% Private Sources 0% Other(identify source ; if multiple other sources, attach schedule) 0 Total Amount Deposited in Special Tax Allocation Fund During Reporting Period $ 45777 Cumulative Totai Revenues/Cash Receipts $ 3,901,380 100% Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) $ 156,233.00 Distribution of Surplus $ _ Total Expenditures/Disbursements $ 156,233 NET INCOME/CASH RECEIPTS OVER/(UNDER) CASH DISBURSEMENTS $ 110,456 FUND BALANCE, END OF REPORTING PERIOD $ 2,772,153 - if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 FY 2009 TIF Names o� SECTION 3.2 A-(65 ILCS 5111-74.4-5(d)(5)and 66 ILCS 5111-74.6-22(d)(6)) ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND (by category of permissible redevelopment cost,amounts expended during reporting period) FOR AMOUNTS>$5,000 SECTION 3.2 B MUST BE COMPLETED Category of Permissible Redevelopment Cost[65 ILCS 5111-74.4-3(q)and 55 ILCS 5111-74.6-10(o)] 1.Costs of studies,administration and professional services—Subsections 1 and o 1 Reporting Fiscal Year Administration Costs 13,365 2 Cost of marketing sites—Subsec0ons 1.6 and(o)(1.6) S 13,365 S 3. Property assembly, demoliUan, site preparation and environmental site improvement costs. Subsection 2,(o)(2)and(o)(3) 4. Costs of rehabilitation, reconstruction, repair or remodeling and replacement of existing public buildings.Subsection 3 and(0)(4) - 5.Costs of consli fc-hon of public works and improvements Subsection 4 and(o)(5) $ a 6 Costs of removing contaminants required by environmental laws or rules(o)(6)-Industrial Jobs Recovery TIFs ONLY S FY 2009 TIF Name:US Rte 34 and III.Rle 47 7 Cost of job training and retraining,including 'welfare to work"programs Subsectior (q)(5),(0)(7) and(o)(12) 8 Financing costs.Subsection 6 and(o)(8) Debt Service Payment 142,868 S 9 Approved capital costs.Subsection 7 and(o)(9) 142,868 S 10 Cost of Reimbursing school distracts for their increased costs caused by TIF assisted housing projects.Subsection 7.5 -Tax Increment Allocation Redevelopment TIFs ONLY S 11 Relocation costs.Subsection 8 and(o)(1 0 5 - 12.Pa ments in lieu of taxes Subsection 9 and(o)(1 1 13. Costs of job training, retraining advanced vocational or career education provided by other taxing bodies.Subsection 10 and(o)(1 2 3 FY 2009 TIF Name US Rte 34 and III Rte 47 14 Costs of reimbursing private developers for interest expenses incurred on approved redevelopment projects.Subsection 11)(A-E)and(o)(1 3 A-E S 15 Costs of construction of new housing units for low income and very low-income households. Subsection 11 F -Tax Increment Allocation Redevelopment TIFs ONLY 16 Cost of day care services and operational costs of day care centers.Subsection(q)(11 5)-Tax Increment Allocation Redevelopment TIFs ONLY a TOTAL ITEMIZED EXPENDITURES $ 156,233 FY 2009 TIF Name-US Me 34 and III.Rte 47 Section 3.2 B List all vendors, including other municipal funds,that were paid in excess of$5,000 during the current reporting year. _NIA_ There were no vendors, including other municipal funds, paid in excess of$5,000 during the current reporting period. Name Service Amount Kathleen Field Orr&Associates Legal $ 13,365.00 FY 2009 TIF Name: US Rte 34 and III. Rte 47 SECTION 3.3 -(65 ILCS 5111-74.4-5 (d) (5)65 ILLS 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 $ 2,772,153 Amount of Original Issuance Amount Designated 1. Description of Debt Obligations Alternative Revenue Bonds Debt Service $ 3,525,000 $ 4,899,858 Total Amount Designated for Obligations Is 3,525,000 1 $ 4,891858 2. Description of Project Costs to be Paid Redevelopment Agreement for the Countryside Center, Yorkville Total Amount Designated for Project Costs $ _ TOTAL AMOUNT DESIGNATED Is 4,899,858 SURPLUS-/(DEFICIT) $ (2,127,705) NOTE: If a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing FY 2009 TIF Name: US Rte 34 and III. Rte 47 SECTION 4 [65 ILCS 5111-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] Provide a description of all property purchased by the municipality during the reporting fiscal year within the ___X_ No property was acquired by the Municipality Within the Redevelopment Project Area Property Acquired by the Municipality Within the Redevelopment Project Area Property (f): Street address Approximate size or description of prope Purchase price: Seller of property: Property(2): Street address Approximate size or description of property: Purchase price: Seller of property: Property (3): Street address Approximate size or description of property: Purchase price: Seller of property: Property(4): Street address Approximate size or description of ro e Purchase price; Seller of property: FY 2009 TIF Name: US Rte 34 and III. Rte 47 SECTION 5-65 ILCS 5111-74.4-5(d)(7)(G)and 65 ILCS 5111-74.6-22(d)(7)(G) Please include a brief description of each project, X No Projects Were Undertaken by the Municipality Within the Redevelopment Project Area 1=stimated Investment for Subsequent Fiscal Total Estimated to 1111199 to Date Year Complete Project TOTAL: Private Investment Undertaken See Instructions $ _ $ $ _ Public Investment Undertaken $ _ $ _ Ratio of Private/Public Investment 0 0 Project 1: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment ❑ 0 Project 2: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public 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 Project 6: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public investment 0 0 Project 7: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 FY 2009 TIF Name:US Rte 34 and III.Rte 47 Project 8: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 9: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 10: Private Investment Undertaken See instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 11: Private Investment Undertaken See Instructions Public investment Undertaken Ratio of Private/Public Investment 0 0 Project 12: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of PrivatelPublic Investment 0 0 Project 13: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 14: Private Investment Undertaken(See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 15: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 16: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 FY 2009 TIF Name:US Rte 34 and Ill.Rte 47 Project 17: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 18: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 19: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 20: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 21: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 22: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 23: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public investment 0 0 Project 24: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 25: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 FY 2009 TIF Name:US Rte 34 and III.Rte 47 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 $ - $ - List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. 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 job creation and retention Description and Type 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 only major boundaries: Optional Documents Enclosed Legal description of redevelopment project area Map of District FY 2009 TIF Name: US Rte 34 and Ill. Rte 47 i DATE: 11/09/2009 UNITED CITY OF YORKVILLE PAGE: 1 � TIME: 11:48:27 ACCOUNT ACTIVITY REPORT F-YR: 09 ID: GL430000.WOW i ACCOUNT: 87-000-78-00-9007 ADMINISTRATION FEES ACTIVITY THROUGH FISCAL PERIOD 12 PER JOURNAL # ITEM TRANSACTION DESCRIPTION VENDOR DEBIT CREDIT --------------------------------------------------------------------------------------------------------- ----------- 01 BEGINNING BALANCE GJ-000503A 431 RECORD AP VENDOR AP080513 AP-B0513M 09 COUNTRYSIDE-MARCH LEGAL FOR ORRK _643aoe_- TOTAL PERIOD 01 ACTIVITY 603.00 503.00 04 AP-8U812M 08 COUNTRYSIDE TIFF-LEGAL MATTERS ORRK 3,681.00 TOTAL PERIOD 04 ACTIVITY 3,681.00 0.00 C5 AP-80909M 08 COUNTRYSIDE TIFF-LEGAL MATTERS ORRK 3,375.00 TOTAL PERIOD 05 ACTIVITY 3,375.00 0.00 06 AP-81014M 06 COUNTRYSIDE TIFF-LEGAL MATTERS ORRK 4,239.00 AP-01020M 10 COUNTRYSIDE TIFF-LEGAL MATTERS ORRK 1,620.00 TOTAL PERIOD 06 ACTIVITY 5,859.00 0.00 OS AP-81222M 26 COUNTRYSIDE TIFF-LEGAL MATTERS ORRK 190.00 ------------------------------------------ TOTAL PERIOD 09 ACTIVITY 180.00 0.00 12 AP-90428M 09 COUNTRYSIDE TIFF-LEGAL MATTERS ORRK 771.25 TOTAL PERIOD 12 ACTIVITY 271.25 0.00 I BALANCE: 13,366.25 Printed with FinePrint - purchase at www.fineprint.com UNITED CITY OF YORKVILLE,ILLINOIS Schedule of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual Countryside TIF Fund For the Year Ended April 30,2009 Variance from Final Budget Budget Actual Over(Under) Revenues Property Taxes S 8,442 8,455 13 Investment Income 40,000 37,322 (2,678) Total Revenues 48,442 45,777 (2,665) Expenditures Current Community Development Administrative Fees 14,315 13,365 (950) Debt Service Interest 142,868 142,868 Total Expenditures 157,183 156,233 (950) Net Change in Fund Balance (108,741) (110,456) (1,715) Fund Balance at Beginning of Year 2,882,609 2,882,609 Fund Balance at End of Year $ 2,773 868 27721 53 (l 715) 93