Joint Review Board Packet 2012 11-27-12 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 Kendall County Forest Preserve
9075 Corneils 110 W Madison Street
Bristol,Illinois 60512 Yorkville,Illinois 60560
YOU ARE HEREBY NOTIFIED that a meeting of the annual Joint Review Board(s)to review the
annual reports for the Fox Industrial Park,US Route 34/IL Route 47 Countryside Shopping Center and Downtown
Tax Increment Financing Redevelopment Project Areas will be convened November 27,2012 at 3:00 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,
US Route 34/IL Route 47 Countryside Shopping Center and Downtown Redevelopment Project Areas.
Is/Beth Warren,City Clerk
AGENDA
ANNUAL JOINT REVIEW BOARD OF THE UNITED CITY OF YORKVILLE
FOR THE FOX INDUSTRIAL,US RTE 34&IL RTE 47 COUNTRYSIDE AND DOWNTOWN
REDEVELOPMENT PROJECT AREAS
November 27,2012 United City of Yorkville, City Hall 3:00 p.m.
800 Game Farm Road, Yorkville,Illinois
1. Roll Call United City of Yorkville
Kendall Township
Kendall County
Kendall County Forest Preserve
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. Minutes for Approval
6. Review of Annual Report for Fox Industrial,US Rte 34&IL Rte 47 Countryside and Downtown
Redevelopment Project Areas
7. Discussion
8. Adjournment
Table of Contents
Minutes of the FYE 2011 Joint Review Board.........................................................................................1
FoxIndustrial Park TIF Report................................................................................................................4
Certification of Chief Executive Officer................................................................................................. 15
LegalCouncil Opinion............................................................................................................................ 16
ActivitiesStatement................................................................................................................................ 17
Audited Financial Statements................................................................................................................. 18
AuditorCompliance Letter.....................................................................................................................25
US Route 34 & IL Route 47 (Countryside) TIF Report........................................................................26
Certification of Chief Executive Officer.................................................................................................37
LegalCouncil Opinion............................................................................................................................38
ActivitiesStatement................................................................................................................................39
Audited Financial Statements.................................................................................................................40
AuditorCompliance Letter.....................................................................................................................47
DowntownTIF Report.............................................................................................................................48
Certification of Chief Executive Officer.................................................................................................59
LegalCouncil Opinion............................................................................................................................60
ActivitiesStatement................................................................................................................................61
Audited Financial Statements.................................................................................................................62
AuditorCompliance Letter.....................................................................................................................69
Attachment H
Fiscal Year 2011 Meeting of the Joint Review Board
Tuesday, October 26, 2011
1:30 p.m.
Yorkville City Hall Conference Room
800 Game Farm Road, Yorkville, IL 60560
Board Members in Attendance:
Jacqui Parisi, Business Manager—Yorkville CUSD 115
John Sterrett—Kendall County Associate Planner, Building and Zoning Dept.
Tom Lindblom, Deputy Fire Chief—Bristol Kendall Fire Department
City Officials in Attendance:
Bart Olson, City Administrator-United City of Yorkville
Krysti Barksdale-Noble, Community Development Director- United City of Yorkville
Rob Fredrickson, Finance Director-United City of Yorkville
Kathleen Field Orr, City Attorney—Kathleen Field Orr&Associates
Other Attendees:
Lynn Dubajic, Executive Director-YEDC
Tony Scott, Reporter—Kendall Record
Butch Konicek—Plano resident
Elect Public Member
Bart Olson, City Administrator of the United City of Yorkville—unanimously elected
Elect Chair Person
Krysti Barksdale-Noble, Community Development Director of the United City of Yorkville—
unanimously elected
Ms. Noble opened the annual meeting by asking for approval of the minutes from the last
meeting (March 22, 2011). The minutes were approved"as is"unanimously.
Annual Report for the Fox Industrial TIF:
City Attorney, Kathleen Field Orr, told the group that the Fox Industrial Park TIF would be
liquidated by the end of this year. The City Council approved the TIF in May of 2001 to help
repair streets and other infrastructure in the aging industrial park.
Mr. Fredrickson summarized that the fund balance (as of Fiscal Year End April 30, 2011)was
$569,790. Of this amount, $155,346 is reserved to pay the remaining debt service on the 2002
bonds; $20,000 is reserved for signage; and approximately $15,000 will be reserved for
administrative costs associated with the proposed TIF closing.
1
Two ordinances were handed out relating to the Fox Industrial TIF. The first proposed ordinance
will declare a surplus for the Fox Industrial TIF, in which the City will turn over surplus
proceeds to the County, and the County will disseminate the proceeds back to the taxing districts.
As to the timing on when the taxing districts will receive this surplus, Mr. Fredrickson stated that
he did not know, but is waiting for an answer from the County Treasurer. The second proposed
ordinance would dissolve the TIF, effective December 31, 2011.
Mr. Lindblom asked when the City will get the money for the County. Ms. Orr stated that
typically all redevelopment project costs must be paid before you can close out a TIF. However,
in this instance there is enough money to make a provision for final payment of any outstanding
costs. Currently there are two outstanding items: a sign that the City has to pay for and final debt
service payments for the 2002 bond. Because these provisions can be made, Ms. Orr stated that
there is no reason to hold off the closing of this TIF. Ms. Orr further explained that the
ordinances that were being distributed are on the agenda tonight for the City Council meeting.
Under the assumption that the City Council passes these ordinances, Mr. Fredrickson is prepared
to issue a surplus check tomorrow and get it to the County. Both Ms. Orr and Mr. Fredrickson
have left questions for the County Clerk and Treasurer as to when the surplus will be distributed,
and will let the other taxing districts know pending a response from the County. Ms. Orr went
on to say that this would be the first of two surpluses for the Fox Industrial TIF,because in 2012
after receiving the 2011 taxes, the City would authorize a second declaration of surplus to remit
any remaining proceeds back to the taxing districts via the County Treasurer. She concluded by
stating that for your next levy, i.e. 2012,there will be no Fox Industrial TIF.
Ms. Parisi asked when the last debt service payments would be due. Mr. Fredrickson said there
is a interest payment due on June 30, 2012; and a final interest and principle payment due on
December 30, 2012.
Annual Report for the Countryside TIF
Mr. Fredrickson referenced page 24 in the TIF packet to show the current(as of April 30, 2011)
fund balance amount of$2,178,550. This entire amount is reserved for debt service. The
outstanding balance on the bonds is currently $3.19 million, which leaves a deficit of a little over
$1 million.
Annual Report for the Downtown TIF
Mr. Fredrickson stated ending fund balance for fiscal year 2011 was $209,760. Of this amount
$200,000 is reserved for the IL Route 47 Expansion Project, which is scheduled to begin next
spring. This project will start just south of Kennedy Road and continue until its intersection with
IL Route 71, which will encompass the Downtown TIF area. He added that in fiscal year 2011
this TIF had a property tax allotment of approximately $75,000, which was added to fund
balance.
2
Ms. Noble asked if there were any other items to discuss or any questions about the TIF's. Ms.
Orr added that the law prescribes when you are going to dissolve a TIF, taxing districts have to
be given notice in November of the year that it happens so you can start planning for the dollars
and cents we just explained. The City will be sending copies of the ordinances dissolving the
TIF and the declaration of surplus to each of the taxing districts, which will go out after passage
of the ordinances. Ms. Orr concluded by stating that she believes the City has given the taxing
districts adequate notice of the dissolution of the TIF, pursuant to State Statute.
Ms. Noble then asked for a motion to adjourn; it was seconded; and the meeting adjourned at
1:50 p.m.
Minutes respectfully submitted by:
Bonnie Olsem
3
Fox Industrial TIF District
FY 2012
ANNUAL TAX INCREMENT FINANCE E� :. STATE OF ILLINOIS
REPORT COMPTROLLER
.:17 ,.°` JUDY BAAR TOPINKA
FINAL REPORT
Name of Municipality: United City of Yorkville Reporting Fiscal Year: 2012
County: Kendall Fiscal Year End: 04130 /2012
Unit Code: 047/035/30
. TIC�►t�mir�iSt�'atia�Gontact:ln#gtrna#ion
First Name: Rob Last Name: Fredrickson
Address: 800 Game Farm Road Title: Finance Director
Telephone: 630-553-8534 City: Yorkville Zip: 60560
E-Mail: rfredrickson @yorkville.il.us
attest to the best of my knowledge, this report of the redevelopment project areas in: City
of Yorkville, Illinois
is complete and accurate at the end of this reporting Fiscal year under the Tax Increment Allocation
Redevelopment Act [65 ILCS 5111-74.4-3 et. seq.] Or the Industrial Jobs Recovery Law[65 ILCS 5111-74.6-10 et.
seq.]
Written signature of TIF Administrator Date
Section 1 (65 ILCS 5111-74.4-5 d) 1.5 and 65 ILCS 5111-74.6-22 (d) (1.5
F1LL:4UT:ONE. R.EACH.'::1F:DISTICT
Name of Redevelopment Project Area Date Designated Date Terminated
United City of Yorkville Tax Increment Financing Redevelopment
Project Area- Fox Industrial Park 5/10/2001 12/31/2011
*All statutory citations refer to one of two sections of the Illinois Municipal Code: the Tax Increment Allocation
Redevelopment Act [65 ILCS 5111-74.4-3 et. seq.]or the Industrial Jobs Recovery Law[65 ILCS 5111-74.6-10 et.
seq.]
FY 2012 TIF Name: Fox Industrial
4
SECTION 2 [Sections 2 through 5 must be completed foreach redevelopment project area listed in Section 1.]
Name of Redevelopment Project Area: Fox Industrial Park 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 complied with all
of the requirements of the Act during the preceding fiscal year. [65 ILCS 5/11-74.4-5 (d) (3) and 5/11-
74.6-22 (d)(3)]
Please enclose the CEO Certification labeled Attachment E X
Opinion of legal counsel that municipality is in compliance with the Act. [65 ILCS 5/11-74.4-5(d) (4) and
5/11-74.6-22 (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 5/11-74.4-5(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 C 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 5/11-74.4-5 (d)(7)(C)and 5/11-74.6-22 (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 5/11-74.4-5 (d) (7) (D) and
5/11-74.6-22 (d)(7)(D)]
If yes, 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 5/11-74.6-22 (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 5/11-74.4-5 (d)(7)(F)and 5/11-74.6-22 (d)(7)(F)]
If yes, please enclose the Joint Review Board Report labeled Attachment E X
Were any obligations issued by municipality? [65 ILCS 5/11-74.4-5 (d)(8)(A)and
5/11-74.6-22 (d)(8)(A)]
If yes, please enclose the Official Statement labeled Attachment 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 yes, please enclose the Analysis labeled Attachment X
Cumulatively, have deposits equal or greater than $100,000 been made into the special tax allocation
fund?65 ILCS 5/11-74.4-5(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 5/11-74.4-5 (d)(9)and 5/11-74.6-22 (d)(9)
If yes, please enclose a certified letter statement reviewing compliance with the Act labeled
Attachment L 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 5/11-74.4-5(d)(10)]
If yes, please enclose list only of the intergovernmental agreements labeled Attachment N X
*Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed.
FY 2012 TIF Name: Fox Industrial
5
SECTION 3.1 -(65 ILCS 5111-74.4-5(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 $ 569,790
Revenue/Cash Receipts Deposited in Fund During Reporting FY:
% of Total
Property Tax Increment $ 259,052 $ 1,357,148 98%
State Sales Tax Increment 0%
Local Sales Tax Increment 0%
State Utility Tax Increment 0%
Local Utility Tax Increment 0%
Interest $ 275 $ 21,794 2%
Land/Building Sale Proceeds 0%
Bond Proceeds 0%
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 $ 259,327
Cumulative Total Revenues/Cash Receipts $ 1,378,942 100%
Total Expenditures/Cash Disbursements(Carried forward from Section 3.2) $ 191,410
Distribution of Surplus $ 637,707
Total Expenditures/Disbursements $ 829,117
NET INCOME/CASH RECEIPTS OVER/(UNDER) CASH DISBURSEMENTS $ (569,790)
FUND BALANCE, END OF REPORTING PERIOD $ -
- if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
FY 2012 TIF Name: Fox Industrial
6
SECTION 3.2 A-(65 ILCS 5/11-74.4-5(d)(5)and 65 ILCS 5/11-74.6-22(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>$10,000 SECTION 3.2 B MUST BE COMPLETED
Category of Permissible Redevelopment Cost[65 ILCS 5/11-74.4-3(q)and 65 ILCS 5/11-74.6-10(o),
Reporting Fiscal Year
1.Costs of studies,administration and professional services—Subsections(q)(1)and o 1
Legal Services 3,034
Auditing Services-TIF Compliance Report 316
Paying Agent Fees 214
Administrative Costs-TIF Closure 21,050
Debt Service Transfer 78,777
$ 103,391
2.Cost of marketing sites—Subsections 1.6 and(o)(1.6)
Signage 11,236
$ 11,236
3. Property assembly, demolition, 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(o)(4)
5.Costs of construction of public works and improvements.Subsection q)(4)and(o)(5)
6. Costs of removing contaminants required by environmental laws or rules(o)(6)- Industrial Jobs
Recovery TIFs ONLY
$
FY 2012 TIF Name: Fox Industrial
7
7. Cost of job training and retraining,including"welfare to work"programs Subsection(q)(5),(0)(7)
and (0)(12)
8. Financing costs. Subsection (q)(6)and (0)(8)
Principal 70,000
Interest 6,783
$ 76,783
9.Approved capital costs. Subsection(q)(7)and(0)(9)
10. Cost of Reimbursing school districts for their increased costs caused by TI assisted housing
projects. Subsection (q)(7.5)-Tax Increment Allocation Redevelopment TIFs ONLY
11. Relocation costs. Subsection(q)(8)and (o)(1 0)
12. Payments in lieu of taxes.Subsection (q)(9)and (o)(1 1)
13. Costs of job training, retraining advanced vocational or career education provided by other
taxing bodies.Subsection(q)(10)and(o)(1 2)
FY 2012 TIF Name: Fox Industrial
8
14. Costs of reimbursing private developers for interest expenses incurred on approved
redevelopment projects. Subsection(q)(1 1 A-E and(o)(1 3 A-E
15. Costs of construction of new housing units for low income and very low-income households.
Subsection(q)(1 1 (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
$ -
TOTAL ITEMIZED EXPENDITURES $ 191,410
FY 2012 TIF Name: Fox Industrial
9
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 $ 76,997
UCOY- Debt Service Fund FY 2013 Debt Service PMT'S $ 78,777
UCOY- General Fund Administrative Costs-TIF Closure $ 21,050
Custom Signs Signage $ 11,236
FY 2012 TIF Name: Fox Industrial
10
SECTION 3.3- (65 ILCS 5/11-74.4-5(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 5/11-74.4-5 (d) (5) (D)and 65 ILCS 5/11-74.6-22 (d) (5) (D))
FUND BALANCE, END OF REPORTING PERIOD $ -
Amount of Original
Issuance Amount Designated
1. Description of Debt Obligations
Total Amount Designated for Obligations
2. Description of Project Costs to be Paid
Total Amount Designated for Project Costs $ -
TOTAL AMOUNT DESIGNATED $ -
SURPLUS-/(DEFICIT) $ -
* NOTE: If a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing
FY 2012 TIF Name: Fox Industrial
11
SECTION 4 [65 ILCS 5/11-74.4-5 (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
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
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 2012 TIF Name: Fox Industrial
12
SECTION 5-65 ILCS 5/11-74.4-5(d) (7) (G)and 65 ILCS 5/11-74.6-22 (d) (7) (G)
Page 1
If NO projects were undertaken by the Municipality Within the Redevelopment Project Area, indicate X
If Projects WERE undertaken by the Municipality Within the Redevelopment Project Area enter the
Estimated
Investment for
Subsequent Fiscal Estimated Cost of
11/1/99 to Date Year the Total Project
TOTAL:
Private Investment Undertaken (See Instructions) $ 9,000,000 $ - $ 9,000,000
Public Investment Undertaken $ 547,396 $ - $ 547,396
Ratio of Private/Public Investment 1634/77 1634/77
Project 1:
Roadway/Curb&Gutter/Storm Sewer Infrastructure Improvements
Private Investment Undertaken (See Instructions) $ 9,000,000 $ - $ 9,000,000
Public Investment Undertaken $ 547,396 $ - $ 547,396
Ratio of Private/Public Investment 1634/77 1634/77
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
FY 2012 TIF Name: Fox Industrial
13
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 $ 2,938,857 $ 5,966,782
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
United City of Yorkville $ 67,334
Yorkville Public Library $ 19,331
Yorkville CUSD#115 $ 393,915
Waubonsee Community College District#516 $ 30,722
Kendall County $ 47,750
Bristol - Kendall Fire Protection District $ 50,268
Kendall County Forest Preserve $ 7,773
Kendall Township $ 5,814
Kendall Road District $ 14,801
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 previously provided
Map of District previously provided
FY 2012 TIF Name: Fox Industrial
14
CEO CIr
United City of Yorkville Attachment B
5 800 Game Farm Road
Yorkville, Illinois, 60560
o IN Telephone: 630-SS3-4350
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
I, Gary J. Golinski, 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, 2012, in connection with the administration of the Fox
Industrial Park Area Tax Increment Financing District.
r
Gary ]. Go ski, Mayor
15
LAW OFFICE
KATHLEEN FIELD ORR & ASSOCIATES
53 WEST JACKSON BOULEVARD
SUITE 935
CHICAGO, ILLINOIS 60604
(312)382-2113
(3 12)382-2127 facsimile
KATHLEEN FIELD ORR JAMES W. BINNINGER
kfo @kfoassoc.com jwb cr,kfoassoc.com
October 22, 2012
Judy Barr Topinka, State Comptroller
State of Illinois Building
100 West Randolph Street
Suite 15-500
Chicago, Illinois 60601
Dear Ms. Topinka:
I have acted as City Attorney for the United City of Yorkville, Kendall County, Illinois,
in connection with the administration of the City's Fox Industrial Park Tax Increment
Redevelopment Project Area.
I have reviewed all information provided to me by the City staff and, to the best of my
knowledge and belief, find that the City has conformed with all of the applicable provisions of
the Tax Increment Allocation Redevelopment Act, 65 ILCS 5111-74.4-1, et seq., for the fiscal
year ending April 30, 2012.
Very truly yours,
KATHLEEN FIELD ORR& ASSOCIATES
J mes W. Binninger
ATTACHMENT C
16
Unit Code 047/035/30
Attachment D
Activities Statement
Fox Industrial Park Area
In 2002 the City issued bonds in the amount of$625,000 to finance certain roadway, curb &gutter, street
lighting and storm sewer improvements in the Fox Industrial Park area. These improvements cost
approximately$550,000 and were completed in 2002. The remaining bond proceeds were applied
towards debt service in subsequent fiscal years.
In fiscal year 2012,the TIF district paid$76,783 in debt service costs, consisting of principle and interest
in the amounts of$70,000 and$6,783,respectively. As of April 30,2012 the outstanding balance on the
bonds was $75,000. This TIF was terminated on December 31,2011, and a surplus of$637,707 was
remitted to the County for dissemination amongst the local taxing bodies. In addition, $78,777 was
transferred to the City's Debt Service Fund in order to satisfy the final debt service requirements of the
2002 bond, and$21,050 was transferred to the City's General Fund(to be held in escrow)for the
purposes of covering any additional costs associated with the Fox Industrial TIF (TIF compliance costs
pertaining to the annual audit,misc admin or legal fees, etc.) Any remaining escrow amounts at fiscal
year end will be remitted to the County for dissemination amoungst the taxing districts.
17
Attachment K
UNITED CITY OF YORKVILLE, ILLINOIS
FOX INDUSTRIAL, COUNTRYSIDE AND
DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
FINANCIAL AND COMPLIANCE REPORT
FISCAL YEAR ENDED
APRIL 30, 2012
18
Attachment K
INDEPENDENT AUDITORS' REPORT
19
Attachment K
27W457 WARRENVILLE RD. •WARRENVILLL, ILLINOIS 60555
Lauterbach & Amen, LLP PHONE 630.393.1483 • FAX 630.393.2516
CERTIFIED PUBLIC ACCOUNTANTS Www.lauterbachamen.com
INDEPENDENT AUDITORS' REPORT
August 15, 2012
The Honorable City Mayor
Members of the City Council
United City of Yorkville, Illinois
We have audited the accompanying basic financial statements of the governmental activities of the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts of the United City of
Yorkville, Illinois as of and for the year ended April 30, 2012, which collectively comprise the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts as listed in the table of
contents. The basic financial statements are the responsibility of the United City of Yorkville, Illinois'
management. Our responsibility is to express an opinion on these basic financial statements based on our
audit.
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 the basic financial statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the basic 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.
As described in Note 1 to the basic financial statements, the basic financial statements present only the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts of the United City of
Yorkville, Illinois, and are not intended to present fairly the financial position or results of operations of
the United City of Yorkville, Illinois, in conformity with accounting principles generally accepted in the
United States of America.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the Fox Industrial, Countryside, and Downtown Tax Incremental Financing Districts
of the United City of Yorkville, Illinois as of April 30, 2012, and the results of its operations for the year
then ended in confornity with accounting principles generally accepted in the United States of America.
We have also issued a report dated August 15, 2012 on our consideration of the Fox Industrial,
Countryside, and Downtown Tax Incremental Financing Districts' compliance with laws, regulations,
contracts and grants. i a, P
LAUTERBACH & AMEN, LLP
1
20
Attachment K
FINANCIAL STATEMENTS
21
Attachment K
UNITED CITY OF YORKVILLE,ILLINOIS
FOX INDUTRIAL,COUNTRYSIDE AND DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
Balance Sheet
April 30,2012
Fox
Industrial Countryside Downtown
TIF TIF TIF
ASSETS
Cash and Investments $ - 1,878,062 261,109
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable - 190 3,156
Fund Balance
Restricted - 1,877,872 257,953
Total Liabilities and Fund Balance - 1,878,062 261,109
The notes to the financial statements are an integral part of this statement.
2
22
Attachment K
UNITED CITY OF YORKVILLE,ILLINOIS
FOX INDUTRIAL, COUNTRYSIDE AND DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
Statement of Revenues,Expenditures and Changes in Fund Balance
Year Ended April 30,2012
Fox
Industrial Countryside Downtown
TIF TIF TIF
Revenues
Property Taxes $ 259,052 4,189 67,808
Interest 275 2,718 126
Total Revenues 259,327 6,907 67,934
Expenditures
General Government
Administration Fees 673,558 1,067 12,152
Capital Outlay - - 7,589
Debt Service
Principal Retirement 70,000 175,000 -
Interest and Fiscal Charges 6,782 131,518 -
Total Expenditures 750,340 307,585 19,741
Excess(Defienciency)of Revenues
Over(Under)Expenditures (491,013) (300,678) 48,193
Other Financing(Uses)
Transfer Out (78,777) - -
Net Change in Fund Balance (569,790) (300,678) 48,193
Fund Balance-Beginning 569,790 2,178,550 209,760
Fund Balance -Ending - 1,877,872 257,953
The notes to the financial statements are an integral part of this statement.
23
Attachment K
UNITED CITY OF YORKVILLE,ILLINOIS
FOX INDUSTRIAL, COUNTRYSIDE AND DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
Notes to the Financial Statements
April 30, 2012
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The operations of Fox Industrial, Countryside and Downtown Tax Incremental Financing Districts are
accounted for through special revenue funds of the United City of Yorkville, Illinois. It applies the
following policies:
Basis of Accounting
The financial statements are prepared on the modified accrual basis of accounting under which revenue
is recognized when it becomes both measurable and available, and expenditures generally are
recognized when the liability is incurred.
4
24
Attachment L
27W457 WARRENVILLE RD. • WARRENVILLE, ILLINOIS 60555
Lauterbach & Amen, LLP PHONE 630.393.1483 • FAX 630.393.2516
CERTIFIED PUBLIC ACCOUNTANTS WWW.lauterbach amen.com
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF
FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GENERALLY
ACCEPTED AUDITING STANDARDS
August 15, 2012
The Honorable City Mayor
Members of the City Council
United City of Yorkville, Illinois
We have audited the accompanying basic financial statements of the governmental activities of the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts of the United City of
Yorkville, Illinois, as of and for the year ended April 30, 2012, and have issued our report thereon dated
August 15, 2012. We conducted our audit in accordance with auditing standards generally accepted in the
United States of America.
Compliance
Compliance with laws, regulations, contracts, and grants applicable to the Financing Districts are the
responsibility of the United City of Yorkville's management. As part of obtaining reasonable assurance
about whether basic financial statements are free of material misstatement, we performed tests of the
City's compliance with certain provisions of laws, regulations, contracts and grants applicable to the
Financing District, including the City's compliance with subsection (q) of Section 11-74.4-3 of the State of
Illinois Public Act 85-1142, An Act in Relation to Tax Increment Financing, noncompliance with which
could have a direct and material effect on the determination of basic financial statement amounts.
However, providing an opinion on compliance with those provisions was not an objective of our audit and,
accordingly, we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance with the provisions referred to in the preceding paragraph.
This report is intended for the information of the members of the City Council and management, and is not
intended to be used and should not be used by anyone other then these specified parties.
J,� d��L
LAUTERBACH & AMEN, LLP
5
25
Countryside TIF District
FY 2012
ANNUAL TAX INCREMENT FINANCE STATE OF ILLINOIS
REPORT COMPTROLLER
NmmenfMunicipality: United C of Yorkville Reporting Fiscal Year: 2012
County: Kendall Fiscal Year End: O4/3O/2O12
Unit Code: 047Y005130 Name: Fredrickson
First Narne: Rob Address: 800 Game Farm Road Title: Finance Director
Telephone: 630'553-8534 City: Yorkville Zip: 80580
E-Mail: ---------- ---------
Section I attest to the best of my knowledge, this report of the redevelopment project areas in: City
of Yorkville, Illinois
is complete and accurate at the end of this reporting Fiscal year under the Tax Increment Allocation
Redevelopment Act [65 ILCS 5/11-74.4-3 et, seq.] Or the Industrial Jobs Recovery Law[65 ILCS 5/11-74.6-10 et.
Written signature of TIF Administrator
Name of Redevelopment Project Area Date Designated Date Terminated
United City of Yorkville Tax Increment Financing Redevelopment
Project Area - US Rte 34 & IL Rte 47 Countryside 2/15/2005
*All statutory citations refer to one of two sections of the Illinois Municipal Code: the Tax Increment Allocation
Redevelopment Act [6G |LC8511-74.4-3 et. yeq] or the Industrial Jobs Recovery Law U55 |LCS5/i1-74.6'10et.
seq.]
FY 2012 T|F Name: US Rte 34 |L Rte 47
26 �
SECTION 2[Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.]
Name of Redevelopment Project Area: U.S.Route 34 and IL 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 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 complied with all of
the requirements of the Act during the preceding fiscal year. [65 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 5/11-74.4-5(d) (4)and
5/11-74.6-22(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 5/11-74.4-5(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 C 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 5/11-74.4-5(d)(7)(C)and 5/11-74.6-22(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 5/11-74.4-5 (d) (7) (D) and
5/11-74.6-22(d)(7)(D)]
If yes, 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 5/11-74.6-22(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 5/11-74.4-5(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 5/11-74.4-5(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 5/11-74.4-5 (d) (8)
(B)and 5/11-74.6-22(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 5/11-74.4-5(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 5/11-74.4-5(d)(9)and 5/11-74.6-22(d)(9)
If yes, please enclose a certified letter statement reviewing compliance with the Act labeled
Attachment L 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 5/11-74.4-5(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.
FY 2012 TIF Name: US Rte 34 IL Rte 47
27
SECTION 3.1 -(65 ILCS 5111-74.4-5(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 $ 2,178,550
Revenue/Cash Receipts Deposited in Fund During Reporting FY:
% of Total
Property Tax Increment $ 4,189 $ 33,219 1%
State Sales Tax Increment 0%
Local Sales Tax Increment 0%
State Utility Tax Increment 0%
Local Utility Tax Increment 0%
Interest $ 2,718 $ 392,946 10%
Land/Building Sale Proceeds 0%
Bond Proceeds $ - $ 3,506,099 89%
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 $ 6,907
Cumulative Total Revenues/Cash Receipts $ 3,932,265 100%
Total Expenditures/Cash Disbursements(Carried forward from Section 3.2) $ 307,585
Distribution of Surplus $ -
Total Expenditures/Disbursements $ 307,585
NET INCOME/CASH RECEIPTS OVER/(UNDER) CASH DISBURSEMENTS $ (300,678)
FUND BALANCE, END OF REPORTING PERIOD $ 1,877,872
- if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
FY 2012 TIF Name: US Rte 34 IL Rte 47
28
SECTION 3.2 A-(65 ILCS 5/11-74.4-5(d)(5)and 65 ILCS 5/11-74.6-22(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>$10,000 SECTION 3.2 B MUST BE COMPLETED
Category of Permissible Redevelopment Cost[65 ILCS 5/11-74.4-3(q)and 65 ILCS 5/11-74.6-10(o),
Reporting Fiscal Year
1.Costs of studies,administration and professional services—Subsections(q)(1)and o 1
Legal Services 750
Auditing Services-TIF Compliance Report 317
Paying Agent Fees 375
$ 1,442
2.Cost of marketing sites—Subsections 1.6 and(o)(1.6)
3. Property assembly, demolition, 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(o)(4)
5.Costs of construction of public works and improvements.Subsection q)(4)and(o)(5)
6. Costs of removing contaminants required by environmental laws or rules(o)(6)- Industrial Jobs
Recovery TIFs ONLY
FY 2012 TIF Name: US Rte 34 IL Rte 47
29
7. Cost of job training and retraining,including"welfare to work"programs Subsection(q)(5),(0)(7)
and (0)(12)
8. Financing costs. Subsection (q)(6)and (0)(8)
Principal 175,000
Interest 131,143
$ 306,143
9.Approved capital costs. Subsection(q)(7)and(0)(9)
10. Cost of Reimbursing school districts for their increased costs caused by TIF assisted housing
projects. Subsection (q)(7.5)-Tax Increment Allocation Redevelopment TIFs ONLY
11. Relocation costs. Subsection(q)(8)and (o)(1 0)
12. Payments in lieu of taxes.Subsection (q)(9)and (o)(1 1)
13. Costs of job training, retraining advanced vocational or career education provided by other
taxing bodies.Subsection(q)(10)and(o)(1 2)
FY 2012 TIF Name: US Rte 34 IL Rte 47
30
14. Costs of reimbursing private developers for interest expenses incurred on approved
redevelopment projects. Subsection(q)(1 1 A-E and o 13)(A-E)
15. Costs of construction of new housing units for low income and very low-income households.
Subsection(q)(1 1 (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
$ -
TOTAL ITEMIZED EXPENDITURES $ 307,585
FY 2012 TIF Name: US Rte 34 IL Rte 47
31
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 $306,518
FY 2012 TIF Name: US Rte 34 IL Rte 47
32
SECTION 3.3- (65 ILCS 5/11-74.4-5(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 5/11-74.4-5 (d) (5) (D)and 65 ILCS 5/11-74.6-22 (d) (5) (D))
FUND BALANCE, END OF REPORTING PERIOD $ 1,877,872
Amount of Original
Issuance Amount Designated
1. Description of Debt Obligations
General Obligation Bonds Series 2005 $ 3,525,000 $ 3,015,000
Total Amount Designated for Obligations $ 3,525,000 1 $ 3,015,000
2. Description of Project Costs to be Paid
Total Amount Designated for Project Costs $ -
TOTAL AMOUNT DESIGNATED $ 3,015,000
SURPLUS-/(DEFICIT) 1 (1,137,128)
* NOTE: If a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing
FY 2012 TIF Name: US Rte 34 IL Rte 47
33
SECTION 4 [65 ILCS 5/11-74.4-5 (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
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
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 2012 TIF Name: US Rte 34 IL Rte 47
34
SECTION 5-65 ILCS 5/11-74.4-5 (d) (7) (G)and 65 ILCS 5/11-74.6-22 (d) (7) (G)
Page 1
If NO projects were undertaken by the Municipality Within the Redevelopment Project Area, indicate X
If Projects WERE undertaken by the Municipality Within the Redevelopment Project Area enter the
Estimated
Investment for
Subsequent Fiscal Estimated Cost of
11/1/99 to Date Year the Total 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
FY 2012 TIF Name: US Rte 34 IL Rte 47
35
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
2/15/2005 $ 1,528,166 $ 1,576,920
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 job creation and retention
Description and Type
Number of Jobs (Temporary or
Retained Number of Jobs 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 previously provided
Map of District previously provided
FY 2012 TIF Name: US Rte 34 IL Rte 47
36
Attachment B
CEry
o United City of Yorkville
J 800 Game Farm Road
- Yorkville, Illinois, 60560
o r� Telephone; 630-553-4350
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
I, Gary J. Golinski, 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, 2012, in connection with the administration of the U.S.
Route 34 and IL Route 47 (Countryside Shopping Center) Tax Increment Financing
District.
Gary J. G 6/ski, Mayor
37
LAW OFFICE
KATHLEEN FIELD ORR & ASSOCIATES
53 WEST JACKSON BOULEVARD
SUITE 435
CHICAGO, ILLINOIS 60604
(312)382-2113
(312)382-2127 facsimile
KATHLEEN FIELD ORR JAMES W. BINNINGER
kfo a,kfoassoc.com jwb c,kfoassoc.com
October 22, 2012
Judy Barr Topinka, State Comptroller
State of Illinois Building
100 West Randolph Street
Suite 15-500
Chicago, Illinois 60601
Dear Ms. Topinka:
I have acted as City Attorney for the United City of Yorkville, Kendall County, Illinois,
in connection with the administration of the City's U.S. Route 34 & Illinois Route 47
Countryside Tax Increment Redevelopment Project Area.
I have reviewed all information provided to me by the City staff and, to the best of my
knowledge and belief, find that the City has conformed with all of the applicable provisions of
the Tax Increment Allocation Redevelopment Act, 65 ILCS 5111-74.4-1, et seq., for the fiscal
year ending April 30, 2012.
Very truly yours,
KATHLEEN FIELD ORR & ASSOCIATES
Tai W. Binninger
ATTACHMENT C
38
Unit Code 047/035/30
Attachment D
Activities Statement
US Rte 34&IL Rte 47 Countryside
In 2005 the City issued bonds in the amount of$3.525 million,the proceeds of which would be used to
finance future retail development at Countryside Center. As of April 30,2012,there are no active
projects in the TIF district. However,the City, in partnership with the Yorkville Economic Development
Corporation(YEDC), continues to actively pursue potential developers.
In fiscal year 2012,the TIF district paid$306,143 in debt service costs, consisting of principle and
interest in the amounts of$175,000 and$131,143,respectively. As of April 30,2012 the outstanding
balance on the bonds was $3,015,000.
39
Attachment K
UNITED CITY OF YORKVILLE, ILLINOIS
FOX INDUSTRIAL, COUNTRYSIDE AND
DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
FINANCIAL AND COMPLIANCE REPORT
FISCAL YEAR ENDED
APRIL 30, 2012
40
Attachment K
INDEPENDENT AUDITORS' REPORT
41
Attachment K
27W457 WARRENVILLE RD. •WARRENVILLL, ILLINOIS 60555
Lauterbach & Amen, LLP PHONE 630.393.1483 • FAX 630.393.2516
CERTIFIED PUBLIC ACCOUNTANTS Www.lauterbachamen.com
INDEPENDENT AUDITORS' REPORT
August 15, 2012
The Honorable City Mayor
Members of the City Council
United City of Yorkville, Illinois
We have audited the accompanying basic financial statements of the governmental activities of the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts of the United City of
Yorkville, Illinois as of and for the year ended April 30, 2012, which collectively comprise the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts as listed in the table of
contents. The basic financial statements are the responsibility of the United City of Yorkville, Illinois'
management. Our responsibility is to express an opinion on these basic financial statements based on our
audit.
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 the basic financial statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the basic 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.
As described in Note 1 to the basic financial statements, the basic financial statements present only the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts of the United City of
Yorkville, Illinois, and are not intended to present fairly the financial position or results of operations of
the United City of Yorkville, Illinois, in conformity with accounting principles generally accepted in the
United States of America.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the Fox Industrial, Countryside, and Downtown Tax Incremental Financing Districts
of the United City of Yorkville, Illinois as of April 30, 2012, and the results of its operations for the year
then ended in confornity with accounting principles generally accepted in the United States of America.
We have also issued a report dated August 15, 2012 on our consideration of the Fox Industrial,
Countryside, and Downtown Tax Incremental Financing Districts' compliance with laws, regulations,
contracts and grants. i a, P
LAUTERBACH & AMEN, LLP
1
42
Attachment K
FINANCIAL STATEMENTS
43
Attachment K
UNITED CITY OF YORKVILLE,ILLINOIS
FOX INDUTRIAL,COUNTRYSIDE AND DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
Balance Sheet
April 30,2012
Fox
Industrial Countryside Downtown
TIF TIF TIF
ASSETS
Cash and Investments $ - 1,878,062 261,109
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable - 190 3,156
Fund Balance
Restricted - 1,877,872 257,953
Total Liabilities and Fund Balance - 1,878,062 261,109
The notes to the financial statements are an integral part of this statement.
2
44
Attachment K
UNITED CITY OF YORKVILLE,ILLINOIS
FOX INDUTRIAL, COUNTRYSIDE AND DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
Statement of Revenues,Expenditures and Changes in Fund Balance
Year Ended April 30,2012
Fox
Industrial Countryside Downtown
TIF TIF TIF
Revenues
Property Taxes $ 259,052 4,189 67,808
Interest 275 2,718 126
Total Revenues 259,327 6,907 67,934
Expenditures
General Government
Administration Fees 673,558 1,067 12,152
Capital Outlay - - 7,589
Debt Service
Principal Retirement 70,000 175,000 -
Interest and Fiscal Charges 6,782 131,518 -
Total Expenditures 750,340 307,585 19,741
Excess(Defienciency)of Revenues
Over(Under)Expenditures (491,013) (300,678) 48,193
Other Financing(Uses)
Transfer Out (78,777) - -
Net Change in Fund Balance (569,790) (300,678) 48,193
Fund Balance-Beginning 569,790 2,178,550 209,760
Fund Balance -Ending - 1,877,872 257,953
The notes to the financial statements are an integral part of this statement.
45
Attachment K
UNITED CITY OF YORKVILLE,ILLINOIS
FOX INDUSTRIAL, COUNTRYSIDE AND DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
Notes to the Financial Statements
April 30, 2012
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The operations of Fox Industrial, Countryside and Downtown Tax Incremental Financing Districts are
accounted for through special revenue funds of the United City of Yorkville, Illinois. It applies the
following policies:
Basis of Accounting
The financial statements are prepared on the modified accrual basis of accounting under which revenue
is recognized when it becomes both measurable and available, and expenditures generally are
recognized when the liability is incurred.
4
46
Attachment L
27W457 WARRENVILLE RD. • WARRENVILLE, ILLINOIS 60555
Lauterbach & Amen, LLP PHONE 630.393.1483 • FAX 630.393.2516
CERTIFIED PUBLIC ACCOUNTANTS WWW.lauterbach amen.com
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF
FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GENERALLY
ACCEPTED AUDITING STANDARDS
August 15, 2012
The Honorable City Mayor
Members of the City Council
United City of Yorkville, Illinois
We have audited the accompanying basic financial statements of the governmental activities of the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts of the United City of
Yorkville, Illinois, as of and for the year ended April 30, 2012, and have issued our report thereon dated
August 15, 2012. We conducted our audit in accordance with auditing standards generally accepted in the
United States of America.
Compliance
Compliance with laws, regulations, contracts, and grants applicable to the Financing Districts are the
responsibility of the United City of Yorkville's management. As part of obtaining reasonable assurance
about whether basic financial statements are free of material misstatement, we performed tests of the
City's compliance with certain provisions of laws, regulations, contracts and grants applicable to the
Financing District, including the City's compliance with subsection (q) of Section 11-74.4-3 of the State of
Illinois Public Act 85-1142, An Act in Relation to Tax Increment Financing, noncompliance with which
could have a direct and material effect on the determination of basic financial statement amounts.
However, providing an opinion on compliance with those provisions was not an objective of our audit and,
accordingly, we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance with the provisions referred to in the preceding paragraph.
This report is intended for the information of the members of the City Council and management, and is not
intended to be used and should not be used by anyone other then these specified parties.
J,� d��L
LAUTERBACH & AMEN, LLP
5
47
Downtown TIF District
FY 2012
ANNUAL TAX INCREMENT FINANCE STATE OF ILLINOIS
REPORT ^; COMPTROLLER
JUDY BAAR TOPINKA
Name of Municipality: United City of Yorkville Reporting Fiscal Year: 2012
County: Kendall Fiscal Year End: 0413012012
Unit Code: 047/035/30
TIF Administrator Cont'
act 1nfnrmatian.
First Name: Rob Last Name: Fredrickson
Address: 800 Game Farm Road Title: Finance Director
Telephone: 630-553-8534 City: Yorkville Zip: 60560
E-Mail: rfredrickson@yorkville.il.us
I attest to the best of my knowledge, this report of the redevelopment project areas in: City
of Yorkville, Illinois
is complete and accurate at the end of this reporting Fiscal year under the Tax Increment Allocation
Redevelopment Act [65 ILCS 5111-74.4-3 et. seq.] Or the Industrial Jobs Recovery Law[65 ILCS 5111-74.6-10 et.
seq.]
Written signature of TIF Administrator Date
Section 1 65 ILCS 5111-74.4-5 d 1.5 and 65 ILCS 5111-74.6-22 d 1.5
F1L:L:.OU ON' 1t:l A H TIC. I " r,7 .. .
Name of Redevelopment Project Area Date Designated Date Terminated
United City of Yorkville Tax Increment Financing Redevelopment
Project Area - Downtown Yorkville 6/13/2006
*All statutory citations refer to one of two sections of the Illinois Municipal Code: the Tax Increment Allocation
Redevelopment Act [65 ILCS 5111-74.4-3 et. seq.] or the Industrial Jobs Recovery Law[65 ILCS 5111-74.6-10 et.
seq.]
FY 2012 TIF Name: Downtown Yorkville
48
SECTION 2 [Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.]
Name of Redevelopment Project Area: Downtown Yorkville
Primary Use of Redevelopment Project Area*: Combination/Mixed
If"Combination/Mixed" List Component Types: Commercial/Residential
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 complied with all
of the requirements of the Act during the preceding fiscal year. [65 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 5/11-74.4-5 (d) (4)and
5/11-74.6-22 (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 5/11-74.4-5(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 5/11-74.4-5(d)(7)(C)and 5/11-74.6-22 (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 5/11-74.4-5 (d) (7) (D) and
5/11-74.6-22 (d)(7)(D)]
If yes, 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 5/11-74.6-22 (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 5/11-74.4-5(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 5/11-74.4-5(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 5/11-74.4
5(d)(8)(B)and 5/11-74.6-22(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 5/11-74.4-5(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 5/11-74.4-5 (d)(9)and 5/11-74.6-22 (d)(9)
If yes, please enclose a certified letter statement reviewing compliance with the Act labeled
Attachment L 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 5/11-74.4-5(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.
FY 2012 TIF Name: Downtown Yorkville
49
SECTION 3.1 -(65 ILCS 5111-74.4-5(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 $ 209,760
Revenue/Cash Receipts Deposited in Fund During Reporting FY:
% of Total
Property Tax Increment $ 67,808 $ 338,067 99%
State Sales Tax Increment 0%
Local Sales Tax Increment 0%
State Utility Tax Increment 0%
Local Utility Tax Increment 0%
Interest $ 126 $ 3,677 1%
Land/Building Sale Proceeds 0%
Bond Proceeds 0%
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 $ 67,934
Cumulative Total Revenues/Cash Receipts $ 341,744 100%
Total Expenditures/Cash Disbursements(Carried forward from Section 3.2) $ 19,741
Distribution of Surplus $ -
Total Expenditures/Disbursements $ 19,741
NET INCOME/CASH RECEIPTS OVER/(UNDER)CASH DISBURSEMENTS $ 48,193
FUND BALANCE, END OF REPORTING PERIOD $ 257,953
- if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
FY 2012 TIF Name: Downtown Yorkville
50
SECTION 3.2 A-(65 ILCS 5/11-74.4-5(d)(5)and 65 ILCS 5/11-74.6-22(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>$10,000 SECTION 3.2 B MUST BE COMPLETED
Category of Permissible Redevelopment Cost[65 ILCS 5/11-74.4-3(q)and 65 ILCS 5/11-74.6-10(o),
Reporting Fiscal Year
1.Costs of studies,administration and professional services—Subsections(q)(1)and o 1
Legal Services 11,786
Auditing Services-TIF Compliance Report 317
Filing Fees 49
Engineering Services 6,786
$ 18,938
2.Cost of marketing sites—Subsections 1.6 and(o)(1.6)
Canoecopia Marketing Expenses 803
$ 803
3. Property assembly, demolition, 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(o)(4)
5.Costs of construction of public works and improvements.Subsection q)(4)and(o)(5)
6. Costs of removing contaminants required by environmental laws or rules(o)(6)- Industrial Jobs
Recovery TIFs ONLY
FY 2012 TIF Name: Downtown Yorkville
51
7. Cost of job training and retraining,including"welfare to work"programs Subsection(q)(5),(0)(7)
and (0)(12)
8. Financing costs. Subsection (q)(6)and (0)(8)
9.Approved capital costs. Subsection(q)(7)and(0)(9)
10. Cost of Reimbursing school districts for their increased costs caused by TIF assisted housing
projects. Subsection (q)(7.5)-Tax Increment Allocation Redevelopment TIFs ONLY
11. Relocation costs. Subsection(q)(8)and (o)(1 0)
12. Payments in lieu of taxes.Subsection (q)(9)and (o)(1 1)
13. Costs of job training, retraining advanced vocational or career education provided by other
taxing bodies.Subsection(q)(10)and(o)(1 2)
FY 2012 TIF Name: Downtown Yorkville
52
14. Costs of reimbursing private developers for interest expenses incurred on approved
redevelopment projects. Subsection(q)(1 1 A-E and o 13)(A-E)
15. Costs of construction of new housing units for low income and very low-income households.
Subsection(q)(1 1 (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
$ -
TOTAL ITEMIZED EXPENDITURES $ 19,741
FY 2012 TIF Name: Downtown Yorkville
53
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
KFO &Associates Legal $ 11,786.00
FY 2012 TIF Name: Downtown Yorkville
54
SECTION 3.3- (65 ILCS 5/11-74.4-5(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 5/11-74.4-5 (d) (5) (D)and 65 ILCS 5/11-74.6-22 (d) (5) (D))
FUND BALANCE, END OF REPORTING PERIOD $ 257,953
Amount of Original
Issuance Amount Designated
1. Description of Debt Obligations
Total Amount Designated for Obligations $
2. Description of Project Costs to be Paid
IL Rte 47 Expansion Project $ 200,000
Imperial Investments Redevelopment Agreement Phase 1 (est.) $ 500,000
Total Amount Designated for Project Costs $ 700,000
TOTAL AMOUNT DESIGNATED $ 700,000
SURPLUS-/(DEFICIT) 1 (442,047)
* NOTE: If a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing
FY 2012 TIF Name: Downtown Yorkville
55
SECTION 4 [65 ILCS 5/11-74.4-5 (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
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
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 2012 TIF Name: Downtown Yorkville
56
SECTION 5-65 ILCS 5/11-74.4-5(d) (7) (G)and 65 ILCS 5/11-74.6-22 (d) (7) (G)
Page 1
If NO projects were undertaken by the Municipality Within the Redevelopment Project Area, indicate X
If Projects WERE undertaken by the Municipality Within the Redevelopment Project Area enter the
Estimated
Investment for
Subsequent Fiscal Estimated Cost of
11/1/99 to Date Year the Total Project
TOTAL:
Private Investment Undertaken (See Instructions) $ 2,000,000 $ - $ 2,000,000
Public Investment Undertaken $ 24,063 $ - $ 24,063
Ratio of Private/Public Investment 83 5/43 83 5/43
Project 1:
Landscaping
Private Investment Undertaken (See Instructions) $ - $ - $ -
Public Investment Undertaken $ 24,063 $ - $ 24,063
Ratio of Private/Public Investment 0 0
Project 2:
Imperial Investments- Phase 1 est.
Private Investment Undertaken (See Instructions) $ 2,000,000 $ - $ 2,000,000
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
FY 2012 TIF Name: Downtown Yorkville
57
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
6/13/2006 $ 6,373,208 $ 6,935,082
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 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 previously provided
Map of District previously provided
FY 2012 TIF Name: Downtown Yorkville
58
Attachment B
,��o car
United City of Yorkville
800 Game Farm Road
Yorkville, Illinois, 60560
g �3 : Telephone: 630-553-4350
4k.
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
I, Gary J. Golinski, 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, 2012, in connection with the administration of the
Downtown Tax Increment Financing District.
-"It Itili -
Gary J. o ksi, ayor
59
LAW OFFICE
KATHLEEN FIELD ORR & ASSOCIATES
53 WEST JACKSON BOULEVARD
SUITE 935
CHICAGO, ILLINOIS 60604
(312)382-2113
(312)382-2127 facsimile
KATHLEEN FIELD ORR JAMES W. BINNINGER
kfo a,kfoassoc.com jwb rr,kfoassoc.com
October 22, 2012
Judy Barr Topinka, State Comptroller
State of Illinois Building
100 West Randolph Street
Suite 15-500
Chicago, Illinois 60601
Dear Ms, Topinka;
I have acted as City Attorney for the United City of Yorkville, Kendall County, Illinois,
in connection with the administration of the City's Downtown Yorkville Tax Increment
Redevelopment Project Area.
I have reviewed all information provided to me by the City staff and, to the best of my
knowledge and belief, find that the City has conformed with all of the applicable provisions of
the Tax Increment Allocation Redevelopment Act, 65 ILCS 5111-74.4-1, et seq., for the fiscal
year ending April 30, 2012.
Very truly yours,
KATHLEEN FIELD ORR& ASSOCIATES
rJmes W. Binninger
ATTACHMENT C
60
Unit Code 047/035/30
Attachment D
Activities Statement
Downtown Yorkville
The Downtown TIF district was created in 2006 to help facilitate mixed use development in the
downtown area. Last fiscal year,the City opened the Marge Cline Whitewater Course at Bicentennial
Riverfront Park,which features 1,200 feet of artificial rapids and is the only whitewater park within 6 hours
of Yorkville. In fiscal year 2012,the City entered into an agreement with Imperial Investments for the
redevelopment of several buildings in the downtown area. This proposed mixed use development will result
in several new store fronts being added to the downtown,along with renovated residential buildings.
Looking forward into the next fiscal year, the City is scheduled to begin construction on the IL Route 47
expansion project in the fall of 2012. This project will include various roadway and infrastructure (water,
sanitary sewer, storm sewer) improvements on Route 47 from just south of Kennedy Road through its
intersection with IL Route 71. The cost of the project that is applicable to the Downtown TIF district is
approximately$200,000.
61
Attachment K
UNITED CITY OF YORKVILLE, ILLINOIS
FOX INDUSTRIAL, COUNTRYSIDE AND
DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
FINANCIAL AND COMPLIANCE REPORT
FISCAL YEAR ENDED
APRIL 30, 2012
62
Attachment K
INDEPENDENT AUDITORS' REPORT
63
Attachment K
27W457 WARRENVILLE RD. •WARRENVILLL, ILLINOIS 60555
Lauterbach & Amen, LLP PHONE 630.393.1483 • FAX 630.393.2516
CERTIFIED PUBLIC ACCOUNTANTS Www.lauterbachamen.com
INDEPENDENT AUDITORS' REPORT
August 15, 2012
The Honorable City Mayor
Members of the City Council
United City of Yorkville, Illinois
We have audited the accompanying basic financial statements of the governmental activities of the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts of the United City of
Yorkville, Illinois as of and for the year ended April 30, 2012, which collectively comprise the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts as listed in the table of
contents. The basic financial statements are the responsibility of the United City of Yorkville, Illinois'
management. Our responsibility is to express an opinion on these basic financial statements based on our
audit.
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 the basic financial statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the basic 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.
As described in Note 1 to the basic financial statements, the basic financial statements present only the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts of the United City of
Yorkville, Illinois, and are not intended to present fairly the financial position or results of operations of
the United City of Yorkville, Illinois, in conformity with accounting principles generally accepted in the
United States of America.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the Fox Industrial, Countryside, and Downtown Tax Incremental Financing Districts
of the United City of Yorkville, Illinois as of April 30, 2012, and the results of its operations for the year
then ended in confornity with accounting principles generally accepted in the United States of America.
We have also issued a report dated August 15, 2012 on our consideration of the Fox Industrial,
Countryside, and Downtown Tax Incremental Financing Districts' compliance with laws, regulations,
contracts and grants. i a, P
LAUTERBACH & AMEN, LLP
1
64
Attachment K
FINANCIAL STATEMENTS
65
Attachment K
UNITED CITY OF YORKVILLE,ILLINOIS
FOX INDUTRIAL,COUNTRYSIDE AND DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
Balance Sheet
April 30,2012
Fox
Industrial Countryside Downtown
TIF TIF TIF
ASSETS
Cash and Investments $ - 1,878,062 261,109
LIABILITIES AND FUND BALANCE
Liabilities
Accounts Payable - 190 3,156
Fund Balance
Restricted - 1,877,872 257,953
Total Liabilities and Fund Balance - 1,878,062 261,109
The notes to the financial statements are an integral part of this statement.
2
66
Attachment K
UNITED CITY OF YORKVILLE,ILLINOIS
FOX INDUTRIAL, COUNTRYSIDE AND DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
Statement of Revenues,Expenditures and Changes in Fund Balance
Year Ended April 30,2012
Fox
Industrial Countryside Downtown
TIF TIF TIF
Revenues
Property Taxes $ 259,052 4,189 67,808
Interest 275 2,718 126
Total Revenues 259,327 6,907 67,934
Expenditures
General Government
Administration Fees 673,558 1,067 12,152
Capital Outlay - - 7,589
Debt Service
Principal Retirement 70,000 175,000 -
Interest and Fiscal Charges 6,782 131,518 -
Total Expenditures 750,340 307,585 19,741
Excess(Defienciency)of Revenues
Over(Under)Expenditures (491,013) (300,678) 48,193
Other Financing(Uses)
Transfer Out (78,777) - -
Net Change in Fund Balance (569,790) (300,678) 48,193
Fund Balance-Beginning 569,790 2,178,550 209,760
Fund Balance -Ending - 1,877,872 257,953
The notes to the financial statements are an integral part of this statement.
67
Attachment K
UNITED CITY OF YORKVILLE,ILLINOIS
FOX INDUSTRIAL, COUNTRYSIDE AND DOWNTOWN
TAX INCREMENTAL FINANCING DISTRICTS
Notes to the Financial Statements
April 30, 2012
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The operations of Fox Industrial, Countryside and Downtown Tax Incremental Financing Districts are
accounted for through special revenue funds of the United City of Yorkville, Illinois. It applies the
following policies:
Basis of Accounting
The financial statements are prepared on the modified accrual basis of accounting under which revenue
is recognized when it becomes both measurable and available, and expenditures generally are
recognized when the liability is incurred.
4
68
Attachment L
27W457 WARRENVILLE RD. • WARRENVILLE, ILLINOIS 60555
Lauterbach & Amen, LLP PHONE 630.393.1483 • FAX 630.393.2516
CERTIFIED PUBLIC ACCOUNTANTS WWW.lauterbach amen.com
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF
FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GENERALLY
ACCEPTED AUDITING STANDARDS
August 15, 2012
The Honorable City Mayor
Members of the City Council
United City of Yorkville, Illinois
We have audited the accompanying basic financial statements of the governmental activities of the Fox
Industrial, Countryside, and Downtown Tax Incremental Financing Districts of the United City of
Yorkville, Illinois, as of and for the year ended April 30, 2012, and have issued our report thereon dated
August 15, 2012. We conducted our audit in accordance with auditing standards generally accepted in the
United States of America.
Compliance
Compliance with laws, regulations, contracts, and grants applicable to the Financing Districts are the
responsibility of the United City of Yorkville's management. As part of obtaining reasonable assurance
about whether basic financial statements are free of material misstatement, we performed tests of the
City's compliance with certain provisions of laws, regulations, contracts and grants applicable to the
Financing District, including the City's compliance with subsection (q) of Section 11-74.4-3 of the State of
Illinois Public Act 85-1142, An Act in Relation to Tax Increment Financing, noncompliance with which
could have a direct and material effect on the determination of basic financial statement amounts.
However, providing an opinion on compliance with those provisions was not an objective of our audit and,
accordingly, we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance with the provisions referred to in the preceding paragraph.
This report is intended for the information of the members of the City Council and management, and is not
intended to be used and should not be used by anyone other then these specified parties.
J,� d��L
LAUTERBACH & AMEN, LLP
5
69