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Joint Review Board Packet 2010 06-08-10 (Downtown) AGENDA ANNUAL JOINT REVIEW BOARD OF THE UNITED CITY OF YORKVILLE FOR THE DOWNTOWN REDEVELOPMENT PROJECT AR1CA June 8, 2010 United City of Yorkville, City Hall I: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 Downtown 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, 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 report(s) for the Fox Industrial Park, Downtown, and US Route 34AL 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 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 5111-74.1-1, et seg.), the Joint Review Board(s) shall review the annual report(s) for the Fox Industrial Park, Downtown, and US Route 34AL Route 47 Countryside Shopping Center Redevelopment Project Areas. Is/Jackie Milschewski,Village Clerk LAW OFFICE KATHLEEN FIELD ORR & ASSOCIATES 180 NORTH MICHIGAN AVENUE SUITE 1040 CHICAGO, ILLINOIS 450601 (311) 382-2123 KATHLEEN FIELD ORR FAX. (312) 381-1127 LISA GAGLIANO 13EFINSTEIN k FotokFoassoc.com lgb@kFoossoc.com November 17, 2009 Daniel W. Hynes, State Comptroller State of Illinois Building 100 West Randolph Street Suite 15-500 Chicago, Illinois 60601 Re: Downtown Tax Increment Finance Redevelopment Project Area for the Fiscal Year Ending April 30, 2009 Dear Sir: I,Kathleen Field Orr,am the City Attorney for the United City of Yorkville,Kendall County, Illinois, and acted as special "TIF" Counsel throughout the fiscal year covered by the referenced Report. I have reviewed all of the information provided by the City Administration and I find that the United City of Yorkville,Illinois,has complied with all of the applicable provisions of the Illinois Tax Increment Allocation Redevelopment Act. Very truly yours, KATHLEEN FIELD ORR& ASSOCIATES i 7K;HLCEEN FIEL ORR KFO/kms C/TJ- �_� C United City of Yorkville 800 Game Farm Road EST. 1036 Yorkville, Illinois, 60560 o i re; 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 Downtown Tax Increment Financing District. 1//, 10 A J 0 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: Downtown Primary Use of Redevelopment Project Area*: CommerciallResidential If"CombinationlMixed" List Component Types: Under which section of the Illinois Municipal Code was Redevelopment Project Area designated? (check one): Fax Increment Allocation Redevelopment Act 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, 165 ILCS 5/11-74.4-5 (d) (3) and 5/11-74.6- 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? 165 ILCS 5111-74.4-5 (d) (7) (A and B) and 5/11-74.6-22 (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 Xes, 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 5/11-74.4-5 (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 5111-74.4-5 (d) (7) (F) and 5111-74.6-22 (d) (7) (F)] If yes, please enclose the Joint Review Board Report labeled Attachment H X Were any obligations issued by municipality? 165 ILCS 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 obligation and projected debt service including required reserves and debt coverage? [65 ILCS 5/11-74.4-5 (d) (8) (B) and 5/11-74.6-22 (d) (8) (B)] If Xes, 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 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: Downtown SECTION 3.1 - (65 ILCS 5/11-74.4-5(d) (5) and 65 ILCS 5/11-74.6-22 (d) (5)) Provide an analysis of the special tax allocation fund. Reporting Year Cumulative Fund Balance at Beginning of Reporting Period $ 28,372.00 Revenue/Cash Receipts Deposited in Fund During Reporting FY: %of Total Property Tax Increment $ 71,588 $ 106,348 97% State Sales Tax Increment 0% Local Sales Tax Increment 0% State Utility Tax Increment 0% Local Utility Tax Increment 0% Interest $ 3,551 $ 3,551 3% Land/Building Sale Proceeds 0% Bond Proceeds 0% Transfers from Municipal Sources 0% Private Sources 0% Other(identify source ; if multiple other sources, attach -F schedule) Oo/a Total Amount Deposited in Special Tax Allocation Fund During Reporting Period $ 75,139 Cumulative Total Revenues/Cash Receipts 1 $ 109,899 1 100"/0 Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) $ 53,936.D0 Distribution of Surplus $ _ Total Expenditures/Disbursements $ 53,936 NET INCOME/CASH RECEIPTS OVER/(UNDER) CASH DISBURSEMENTS $ 21,203 FUND BALANCE, END OF REPORTING PERIOD $ 49,575 - if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 FY 2009 TIF Name �l1Wn4D1, o 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 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 65 ILCS 5111-74.6-10(o)] 1 Costs of studies,administration and professional services—Subsections 1 and o 1 Reporting Fiscal Year Administrative Fees 26,337 Contractual Services 3,537 In-Town Road Programs 24,062 3 2.Coll of marketing sites—Subsections(q)(1 6 and(o)(1-6 53,936 $ 3 Property assembly, demolition, site preparabon and environmental site improvement casts. Subsection 2,(o)(2)and(o)(3) 4. Costs of rehabilitation, reconstrucbon, repair or remodeling and replacement of existing public buildings.Subsection(g)(3)and(o)(4) $ 5 Costs of construction of public works and improvements.Subsection 4 and(o)(5) $ S.Costs of removing contaminants required by environmental laws or rules(o)(6)-Industrial Jobs Recovery T1Fs ONLY $ FY 2009 TIF Name:Downtown 7. Cost of job training and retraining,including"welfare to work"programs Subsection(q)(5). (0)(7) and(o)(12) $ B Financing Costs.Subsection fi and(o)(8) 9 Approved capital costs Subsection 7 and(o)(9) 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(o)(1 0 $ S 12.Payments in lieu of taxes.Subsection 9 and o 11 13. Costs of job training, retraining advanced vocational or career education provided by other a [axing bodies.Subsection 10 and(o)(1 2 5 FY 2009 TIF Name-Downtown 14 Costs of reimbursing private developers for interest expenses incurred on approved redevelopment projects.Subsection 11)(A-E)and(o)(1 3 A-E a 15. Costs of constnuction of new housing units for low income and very low-income households. Subsection(q)(11)(F)-Tax Increment Allocation Redevelo ment TIFs ONLY S - 16.Cost of day care services and operational costs of day care centers Subsection(q)(11 5)-Tax Increment Allocabon Redevelopment TIFs ONLY a TOTAL ITEMIZED EXPENDITURES S 53.936 FY 2009 TIF Name:Downtown Section 3.2 B List all vendors, including other municipal funds, that were paid in excess of$5,000 during the current reporting year. —X_ There were no vendors, including other municipal funds, paid in excess of$5,000 during the current reporting period. Name Service Amount General fund Reimbursement for In-Town Work Completed $ 25,805.00 FY 2009 TIF Name: Downtown 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 $ 49,575 Amount of Original Issuance Amount Designated 1. Description of Debt Obligations Total Amount Designated for Obligations Is - $ 2. Description of Project Costs to be Paid I nfrastructure $ 50,000 Total Amount Designated for Project Costs $ 50,000 TOTAL AMOUNT DESIGNATED $ 50,000 SURPLUS-/(DEFICIT) $ (425) * NOTE: if a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing FY 2009 TIF Name: Downtown SECTION 4 165 ILCS 5111-74.4-5 (d) (6)and 65 ILCS 5111-74.6-22(d) (6)] Provide a description of all property purchased by the municipality during the reporting fiscal year within the No property was acquired by the Municipality Within the Redevelopment Project Area Property Acquired by the Municipality Within the Redevelopment Project Area Property (1): Street address Approximate size or description of property: 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 property: Purchase price: Seller of property: FY 2009 TIF Name: Downtown SECTIONS-65 ILCS 6111-74.4-5(d)(7)(G)and 65 1LCS 5111-74.6-22(d)(7)(G) Please include a brief description of each project. No Projects Were Undertaken by the Municipality Within the Redevelopment Project Area Estimated Investment for Subsequent Fiscal Total Estimated to 11/1199 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 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 Publlc 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: Downtown 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 p 0 Project 12: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public 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 71F Name: Downtown 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 D 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 D 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 PrivatelPublic Investment 0 0 Project 25: Private Investment Undertaken See Instructions Public Investment Undertaken Ratio of Private/Public Investment 0 0 FY 2009 TIF Name: Downtown 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 a Provide a gen eral 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: Downtown UNITED CITY OF YORKVILLE,ILLINOIS Schedule of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual Downtown TIF Fund For the Year Ended April 30,2009 Variance from Final Budget Budget Actual Over(Under) Revenues Property Taxes S 65,119 71,588 6,469 Other Revenue 3,551 3,551 Total Revenue 65,119 75,139 10,020 Expenditures Current Community Development Contractual Services 3,537 3,537 In-Town Road Program 25,859 24,062 (1,797) Administrative Fees 45 532 487 Total Expenditures 25,904 28,131 2,227 Excess of Revenues over Expenditures 39,215 47,008 7,793 Other Financing Uses Transfers Out (25,805) (25,805) Net Change in Fund Balance 13,410 21,203 7,793 Fund Balance at Beginning of Year 28,372 28,372 Fund Balance at End of Year S 41,782 49.575 7L793 94