OFFICE OF THE MAYOR
0
CITY OF CHICAGO
JUN 30 2011
RAHM EMANUEL
MAYOR
June 22, 2011
BY:
COMPTROLLER L.G.A.D.
Hand-delivered June M. Canello
TIF Administrator, Local Government Office of the Illinois Comptroller 100 West Randolph - Suite 15-500 Chicago, Illinois 60601
Re: Notice of the Designation of a City of Chicago TIF Administrator for Purposes of Fil ing the 2010 Tax Increment and Industrial Jobs Recovery Annual Reports for the City of Chicago (the "City")
Dear Ms. Canello:
This letter is intended to meet the requirements of your office as set forth in the "TIF Administrator Contact Information" section of your office's 'Tax Increment Finance Report Instructions" for fiscal year 2010.
Please be advised that the City's Department of Housing and Economic Development (the "Department"), which is the successor department to the prior Department of Community Development, has the primary responsibility for preparing and filing the Tax Increment and Industrial Jobs Recovery annual reports with the Illinois Comptroller as required by 65 ILCS 5/11-74.4 et seq. and 65 ILCS 5/11-74.6 et seq. The administrative head of the Department, and thus the TIF Administrator for the City, is the Commissioner of the Department of Housing and Economic Development (the "Commissioner").
Andrew J. Mooney has been the Commissioner of the Department since February 9,2011 and remains in that position to the present day. He is the TIF Administrator for the City for . purposes of filing the City's 2010 Tax Increment and Industrial Jobs Recovery Annual Reports.
Sincerely,
2010 Annual Report
Ewing Avenue Redevelopment Project Area
Pursuant to 65 ILCS 5/ll-74.4-5(d)
June 30,2011
COM t?,TRO LLJER
ANNUAL TAX INCREMENT FINANCE REPORT OFFICE OF ILLINOIS COMPTROLLER JUDY BAAR TOPINKA
Name of Municipality: Chicago Reporting Fiscal Year: 2010
County.-Cook Fiscal Year End: 12/31/2010
Unit Code: 016/620/30
First Name: Andrew J. Last Name: Mooney
Address: City Hall 121 N. LaSalle Title: TIF Administrator
Telephone: (312)744-0025 City: Chicago, IL Zip: 60602
I attest to the best of my knowledge, this report of the redevelopment project areas.In:
City/Village of Chicago _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. seq.]
Written signature of TIF Aamlnlsfrator _Pate-
Section 1 (65 ILCS 5/11-74.4-5 (d) (1.5) and 65 ILCS 5/11-74.6-22 (d) (1.5)*)
FILL OUT ONE F.ORE'ACH TIFifDiSiTiRIC T
Name of Redevelopment Project Area |
Date Designated |
Date Terminated |
105th/Vincennes |
10/3/2001 |
12/31/2025 |
111th Street/Kedzie Avenue Business District |
9/29/1999 |
9/29/2022 |
119th and Halsted |
2/6/2002 |
12/31/2026 |
119th/l-57 |
11/6/2002 |
12/31/2026 |
126th and Torrence |
12/21/1994 |
12/21/2017 |
134th and Avenue K |
3/12/2008 |
3/12/2032 |
24th/Mlchigan |
7/21/1999 |
7/21/2022 |
26th and King Drive |
1/11/2006 |
12/31/2030 |
35th and Wallace |
12/15/1999 |
12/31/2023 |
35th/Halsted |
1/14/1997 |
12/31/2021 |
35th/State |
1/14/2004 |
12/31/2028 |
40th/State |
3/10/2004 |
12/31/2028 |
43rd/Cottage Grove |
7/8/1998 |
7/8/2021 |
45th/Western Industrial Park Conservation Area |
3/27/2002 |
12/31/2026 |
47th/Ash!and |
3/27/2002 |
12/31/2026 |
47th/Halsted |
5/29/2002 |
12/31/2026 |
47th/King Drive |
3/27/2002 |
12/31/2026 |
47th/State |
7/21/2004 |
12/31/2028 |
49th Street/St. Lawrence Avenue |
1/10/1996 |
12/31/2020 |
51st/ Archer |
5/17/2000 |
12/31/2024 |
53rd Street |
1/10/2001 |
12/31/2025 |
60th and Western |
5/9/1996 |
5/9/2019 |
"All statutory citations refer to one of two sections of the Illinois Municipal Code: 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. seq.)
.I;mies K. Thomson CVnicr ljornl C.iucnum'ul DKisinu 1(111 W. Itiiiiiliilpli Slni-I. Slihc l.l-jtlO Uiiono. It.liOfiill
Tel.: (S77) 3(H tWO'l l'u.v. SI W.'IM. K-nsiil: l.xwovJiiiBin.ioi-.u.ili.-al.m
ANNUAL TAX INCREMENT FINANCE REPORT OFFICE OF ILLINOIS COMPTROLLER JUDY BAAR TOPINKA
Name of Municipality: Chicago Reporting Fiscal Year: 2010
County:Cook Fiscal Year End: 12/31 /2010
Unit Code: 016/620/30
63rd/Ashland |
3/29/2006 |
12/31/2030 |
63rd/Pulaskl |
5/17/2000 |
12/31/2024 |
67th/Cicero |
10/2/2002 |
12/31/2026 |
69th/Ashland |
11/3/2004 |
12/31/2028 |
71st and Stony Island |
10/7/1998 |
10/7/2021 |
72nd and Cicero |
11/17/1993 |
11/17/2016 |
73rd and Kedzle |
11/17/1993 |
11/17/2016 |
73rd/Unlversity |
9/13/2006 |
12/31/2030 |
79th and Cicero ' |
6/8/2005 |
7/8/2021 |
79th Street Corridor |
7/8/1998 |
12/31/2025 |
79th Street/Southwest Highway |
10/3/2001 |
12/31/2029 |
79thA/lncennes |
9/27/2007 |
12/31/2031 |
83rd/Stewart |
3/31/2004 |
12/31/2028 |
87th/Cottage Grove |
11/13/2002 |
12/31/2026 |
89th and State |
4/1/1998 |
4/1/2021 |
95th and Western |
7/13/1995 |
7/13/2018 |
95th Street and Stony Island |
5/16/1990 |
5/16/2013 |
Addison Corridor North |
6/4/1997 |
6/4/2020 |
Addison South |
5/9/2007 |
12/31/2031 |
Archer Courts |
5/12/1999 |
12/31/2023 |
Archer/ Central |
5/17/2000 |
12/31/2024 |
Archer/Western |
2/11/2009 |
12/31/2033 |
Armltage/Pulaskl |
6/13/2007 |
12/31/2031 |
Austin/Commercial |
9/27/2007 |
12/31/2031 |
Avalon Park/South Shore. |
7/31/2002 |
12/31/2026 |
Avondale |
7/29/2009 |
12/31/2033 |
Belmont/ Central |
1/12/2000 . |
12/31/2024 |
Belmont/Cicero |
1/12/2000 |
12/31/2024 |
Bronzeville |
11/4/1998 |
12/31/2022 |
Bryn Mawr/Broadway |
12/11/1996 |
12/11/2019 |
Calumet Avenue/Cermak Road , |
7/29/1998 |
7/29/2021 |
Calumet River |
3/10/210 |
12/31/2034 |
Canal/Congress |
11/12/1998 |
12/31/2022 |
Central West |
2/16/2000 |
12/31/2024 |
Chatham-Ridge |
12/18/1986 |
12/31/2010(1) |
Chicago/ Kingsbury |
4/12/2000 |
12/31/2024 |
Chicago/Central Park |
2/27/2002 |
12/31/2026 |
Chicago Lakeside Development - Phase 1 (USX) |
5/12/2010 |
12/31/2034 |
Chinatown Basin |
12/18/1986 |
12/31/2010 |
Cicero/Archer |
5/17/2000 |
12/31/2024 |
Clark Street and Ridge Avenue |
9/29/1999 |
9/29/2022 |
Clark/Montrose |
7/7/1999 |
7/7/2022 |
Commercial Avenue |
11/13/2002 |
12/31/2026 |
Devon/Sheridan |
3/31/2004 |
12/31/2028 |
COMPTROLLER
(1) This TIF has been terminated; however, the sales tax portion continues to exist for the sole purpose of servicing outstanding obligations which may be retired early at which point the sales tax portion will also terminate.
ANNUAL TAX INCREMENT FINANCE REPORT OFFICE OF ILLINOIS COMPTROLLER JUDY BAAR TOPINKA
Name of Municipality: Chicago Reporting Fiscal Year: 2010
County:Cook Fiscal Year End: 12/31 /2010
Unit Code: 016/620/30
Devon/Western |
11/3/1999 |
12/31/2023 |
Diversey/ Narragansett |
2/5/2003 |
12/31/2027 |
Dlvislon/Homan |
6/27/2001 |
12/31/2025 |
Division/North Branch |
3/15/1991 |
3/15/2014 |
DIvlslon-Hooker |
7/10/1996 |
7/10/2019 |
Drexel Boulevard |
7/10/2002 |
12/31/2026 |
Eastman/North Branch |
10/7/1993 |
10/7/2016 |
Edgewater |
12/18/1986 |
12/18/2009 |
Edgewater/ Ashland |
10/1/2003 |
12/31/2027 |
Elston/Armstrong Industrial Corridor |
7/19/2007 |
12/31/2031 |
Englewood Mall |
11/29/1989 |
11/29/2012 |
Englewood Neighborhood |
6/27/2001 |
12/31/2025 |
Ewlng Avenue |
3/10/2010 |
12/31/2034 |
Forty-first Street and Dr. Martin Luther King, Jr. Drive |
7/13/1994 |
7/13/2017 |
Fuilerton/ Milwaukee |
2/16/2000 |
12/31/2024 |
Galewood/Armitage Industrial |
7/7/1999 |
7/7/2022 |
Goose Island |
7/10/1996 |
7/10/2019 |
Greater Southwest Industrial Corridor (East) |
3/10/1999 |
12/31/2023 |
Greater Southwest Industrial Corridor (West) |
4/12/2000 |
12/31/2024 |
Harlem Industrial Park Conservation Area |
3/14/2007 |
12/31/2031 |
Harrison/Central |
7/26/2006 |
12/31/2030 |
Hollywood/Sheridan |
11/7/2007 |
12/31/2031 |
Homan/Grand Trunk |
12/15/1993 |
12/15/2016 |
Homan-Arthlngton |
2/5/1998 |
2/5/2021 |
Howard-Paulina |
10/14/1988 |
10/14/2011 |
Humboldt Park Commercial |
6/27/2001 |
12/31/2025 |
Irving Park/Elston |
5/13/2009 |
12/31/2033 |
Irving/Cicero |
6/10/1996 |
12/31/2020 |
Jefferson Park Business District |
9/9/1998 |
9/9/2021 |
Jefferson/ Roosevelt |
8/30/2000 |
12/31/2024 |
Kennerjy/Klmball |
3/12/2008 |
3/12/2032 |
Klnzle Industrial Corridor |
6/10/1998 |
6/10/2021 |
Kostner Avenue |
11/5/2008 |
11/5/2032 |
Lake Calumet Area Industrial |
12/13/2000 |
12/31/2024 |
Lakefront |
3/27/2002 |
12/31/2026 |
Lakeside/Clarendon |
7/21/2004 |
12/31/2028 |
LaSalle Central |
11/15/2006 |
12/31/2030 |
Lawrence/ Kedzie |
2/16/2000 |
12/31/2024 |
Lawrence/Broadway |
6/27/2001 |
12/31/2025 |
Lawrence/Pulaski |
2/27/2002 |
12/31/2026 |
Lincoln Avenue |
11/3/1999 |
12/31/2023 |
Lincoln-Belmont-Ashland |
11/2/1994 |
11/2/2017 |
Little Village East |
4/22/2009 |
12/31/2033 |
Little Village Industrial Corridor |
6/13/2007 |
12/31/2031 |
ANNUAL TAX INCREMENT FINANCE REPORT OFFICE OF ILLINOIS COMPTROLLER JUDY BAAR TOPINKA
Name of Municipality: Chicago Reporting Fiscal Year: 2010
County:Cook Fiscal Year End: 12/31 /2010
Unit Code: 016/620/30
Madden/Wells |
11/6/2002 |
12/31/2026 |
Madison/Austin Corridor |
9/29/1999 |
12/31/2023 |
Michlgan/Cermak |
9/13/1989 |
9/13/2012 |
Midway Industrial Corridor |
2/16/2000 |
12/31/2024 |
Midwest |
5/17/2000 |
12/31/2024 |
Montclare |
8/30/2000 |
12/31/2024 |
Montrose/Clarendon |
6/30/2010 |
12/31/2034 |
Near North |
7/30/1997 |
7/30/2020 |
Near South |
11/28/1990 |
12/31/2014 |
Near West |
3/23/1989 |
12/31/2013 |
North Branch (North) |
7/2/1997 |
,12/31/2021 |
North Branch (South) |
2/5/1998 |
2/5/2021 |
North Pullman |
6/30/2009 |
12/31/2033 |
North-Cicero |
7/30/1997 |
7/30/2020 |
Northwest Industrial Corridor |
12/2/1998 |
12/2/2021 |
Ogden/Pulaskl |
4/9/2008 |
4/9/2032 |
Ohio/Wabash |
6/7/2000 |
12/31/2024 |
Pershing/King |
9/5/2007 |
12/31/2031 |
Peterson/ Cicero |
2/16/2000 |
12/31/2024 |
Peterson/ Pulaski |
2/16/2000 |
12/31/2024 |
Pilsen Industrial Corridor |
6/10/1998 |
12/31/2022 |
Portage Park |
9/9/1998 |
9/9/2021 |
Pratt/Ridge Industrial Park Conservation Area |
6/23/2004 |
12/31/2028 |
Pulaski Corridor |
6/9/1999 |
6/9/2022 |
Randolph and Wells |
6/9/2010 |
12/31/2034 |
Ravenswood Corridor |
3/9/2005 |
12/31/2029 |
Read-Dunning |
1/11/1991 |
12/31/2015 |
River South |
7/30/1997 |
7/30/2020 |
River West |
1/10/2001 |
12/31/2025 |
Roosevelt/Canal |
3/19/1997 |
12/31/2021 |
Roosevelt/Cicero |
2/5/1998 |
2/5/2021 |
Roosevelt/Racine |
11/4/1998 |
12/31/2022 |
Roosevelt/Union |
5/12/1999 |
5/12/2022 |
Roosevelt-Homan |
12/5/1990 |
12/5/2013 |
Roseland/Mlchigan |
1/16/2002 |
12/31/2026 |
Sanitary Drainage and Ship Canal |
7/24/1991 |
7/24/2014 |
South Chicago |
4/12/2000 |
12/31/2024 |
South Works Industrial |
11/3/1999 |
12/31/2023 |
Stevenson/Brighton |
4/11/2007 |
12/31/2031 |
Stockyards Annex |
12/11/1996 |
12/31/2020 |
Stockyards Industrial Commercial |
3/9/1989 |
3/9/2012 |
Stockyards Southeast Quadrant Industrial |
2/26/1992 |
2/26/2015 |
Stony Island Avenue Commercial and Burnslde Industrial Corridors |
6/10/1998 |
6/10/2021 |
Touhy/Westem |
9/13/2006 |
12/31/2030 |
C OM P.TROL LE R
ANNUAL TAX INCREMENT FINANCE REPORT OFFICE OF ILLINOIS COMPTROLLER JUDY BAAR TOPINKA
Name of Municipality: Chicago Reporting Fiscal Year: 2010
County:Cook Fiscal Year End: 12/31 /2010
Unit Code: 016/620/30
Weed/Fremont |
1/8/2008 |
1/8/2032 |
West Grand |
6/10/1996 |
6/10/2019 |
West Irving Park |
1/12/2000 |
12/31/2024 |
West Pullman Industrial Park |
3/11/1998 |
3/11/2021 |
West Ridge-Peterson Avenue |
10/27/1986 |
12/31/2010 |
West Wood lawn |
5/12/2010 |
12/31/2034 |
Western Avenue North |
1/12/2000 |
12/31/2024 |
Western Avenue Rock Island |
2/8/2006 |
12/31/2024 |
Western Avenue South |
1/12/2000 |
12/31/2030 |
Western/Ogden |
2/5/1998 |
2/5/2021 |
Wilson Yard |
6/27/2001 |
12/31/2025 |
Woodlawn |
1/20/1999 |
1/20/2022 |
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COMPTROl-LBn
'WifiwtoQjUM.I-U*.'
SECTION 2 [Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.]
Name of Redevelopment Project Area: Ewing Avenue Redevelopment Project Area_
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 |
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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 |
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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 |
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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 |
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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 Aqreement(s) labeled Attachment E |
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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 ves, please enclose the Additional Information labeled Attachment F |
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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 |
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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 |
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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 ves, please enclose the Official Statement labeled Attachment I |
X |
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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 ves, please enclose the Analysis labeled Attachment J |
X |
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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 |
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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 |
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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 |
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X |
* Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed.
FY 2010 Section 2
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 | $ -1
Revenue/Cash Receipts Deposited in Fund During Reporting FY:
|
% of Total |
Property Tax Increment |
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0% |
State Sales Tax Increment |
|
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0% |
Local Sales Tax Increment |
|
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0% |
State Utility Tax Increment |
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0% |
Local Utility Tax Increment |
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0% |
Interest |
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0% |
Land/Building Sale Proceeds |
|
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0% |
Bond Proceeds |
|
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0% |
Transfers in from Municipal Sources (Porting in) |
1773,456 |
1,773,456 |
100% |
Private Sources |
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0% |
Other (identify source ; if multiple other sources, attach schedule) |
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0% |
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Total Amount Deposited In Special Tax Allocation Fund During Reporting Period
Cumulative Total Revenues/Cash Receipts
Total Expenditures/Cash Disbursements (Carried forward from Section 3.2)
Transfers out to Municipal Sources (Porting out)
Distribution of Surplus
Total Expenditures/Disbursements
NET INCOME/CASH RECEIPTS OVER/(UNDER) CASH DISBURSEMENTS FUND BALANCE, END OF REPORTING PERIOD
1,773,456
1,126,410
1,126,410
647,046
647,046
1,773,456
100%
- if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
* Except as set forth in the next sentence, each amount reported on the rows below, if any, is cumulative from the inception of the respective Project Area. Cumulative figures for the categories of 'Interest,' 'Land/Building Sale Proceeds' and 'Other' may not be fully available for this report due to either of the following: (i) the disposal of certain older records pursuant to the City's records retention policy, or (ii) the availability of records only from January 1,1997 forward.
FY 2010
TIF Name: Ewinq Avenue Redevelopment Project Area
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 >$10,000 SECTION 3.2 B MUST BE COMPLETED
Category of Permissible Redevelopment Cost [65 ILCS 5/11-74.4-3 (q) and 65 ILCS 5/11-74.6-10 (o)]
Reporting Fiscal Year
1. Costs of studies, administration and professional servicesSubsections (q)(1) and (o) (1) |
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2. Cost of marketing sitesSubsections (q)(1.6) and (o)(1.6) |
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3. Property assembly, demolition, site preparation and environmental site improvement costs. Subsection (q)(2), (o)(2) and (o)(3) |
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4. Costs of rehabilitation, reconstruction, repair or remodeling and replacement of existing public buildings. Subsection (q)(3) and (o)(4) |
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$ |
5. Costs of construction of public works and improvements. Subsection (q)(4) and (o)(5) |
|
|
|
1.126.410 |
f <_ ' |
|
|
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|
|
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|
|
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|
|
|
$ 1.126.410 |
6. Costs of removing contaminants required by environmental laws or rules (o)(6) - Industrial Jobs Recovery TIFs ONLY |
|
|
|
|
|
|
|
|
|
|
! |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
FY 2010
TIF Name: Ewinq Avenue Redevelopment Project Area
7. Cost of job training and retraining, including "welfare to work" programs Subsection (q)(5), (o)(7) and (o)(12) |
|
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8. Financing costs. Subsection (q) (6) and (o)(8) |
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$ . |
9. Approved capital costs. Subsection (q)(7) and (o)(9) |
|
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|
|
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|
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$ ' |
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 |
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|
|
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|
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|
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|
|
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> 1 |
|
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$ |
11, Relocation costs. Subsection (q)(8) and (o)(10) |
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$ |
12. Payments in lieu of taxes. Subsection (q)(9) and (o)(11) |
|
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|
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|
|
|
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|
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|
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|
|
|
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|
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|
|
|
S |
13. Costs of job training, retraining advanced vocational or career education provided by other taxing bodies. Subsection (q)(10) and (o)(12) |
i 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
! |
|
|
|
|
|
$ |
FY 2010
TIF Name: Ewinq Avenue Redevelopment Project Area
14. Costs of reimbursing private developers for interest expenses incurred on approved redevelopment projects. Subsection (q)(11)(A-E) and (o)(13)(A-E) |
|
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|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ - |
15. Costs of construction of new housing units for low income and very low-income households Subsection (q)(11)(F) - Tax Increment Allocation Redevelopment TIFs ONLY |
|
|
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|
|
|
|
|
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|
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|
|
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|
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$ |
16. Cost of day care services and operational costs of day care centers. Subsection (q) (11.5) -Tax Increment Allocation Redevelopment TIFs ONLY |
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
$ |
TOTAL ITEMIZED EXPENDITURES | |$ 1,126,410 |
FY 2010
TIF Name: Ewinq Avenue Redevelopment Project Area
Section 3.2 B
List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year.*
Name |
Service |
Amount |
MY BAPS Construction Corp. |
Public Improvement |
$1,126,410 |
* This table may include payments for Projects that were undertaken prior to 11/1/1999.
FY 2010
TIF Name: Ewinq Avenue Redevelopment Project Area
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. Description of Debt Obligations
$
647,046
Amount of Original Issuance
Amount Designated
Reserved for debt service |
$ |
$ |
|
|
|
|
|
|
|
|
|
Total Amount Designated for Obligations
Designated for future redevelopment project costs |
|
$ 647,046 |
|
|
|
|
|
|
|
Total Amount Designated for Project Costs
647,046
TOTAL AMOUNT DESIGNATED SURPLUS*/(DEFICIT)
647,046
*NOTE: If a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing districts.
FY 2010
TIF Name: Ewinq Avenue Redevelopment Project Area
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.
Property Acquired by the Municipality Within the Redevelopment Project Area
Property (1): |
|
Street address: |
3915 E. 106th Street |
Approximate size or description of property: |
N/A |
Purchase price: |
|
Seller of property: |
N/A |
FY 2010
TIF Name: Ewinq Avenue Redevelopment Project Area
SECTION 5 - 65 ILCS 5/11-74.4-5 (d) (7) (G) and 65 ILCS 5/11-74.6-22 (d) (7) (G)
Please include a brief description of each project.
X_No Projects Were Undertaken by the Municipality Within the Redevelopment Project Area
FY 2010
TIF Name: Ewinq Avenue Redevelopment Project Area
STATE OF ILLINOIS COUNTY OF COOK
)
) ss
)
Attachment B
CERTI
TO:
Judy Baar Topinka
Comptroller of the State of Illinois
James R. Thompson Center
100 West Randolph Street, Suite 15-500
Chicago, Illinois 60601
Attention: June Canello, Director of Local
Government
Dolores Javier, Treasurer
City Colleges of Chicago
226 West Jackson Boulevard, Room 1125
Chicago, Illinois 60606
Herman Brewer Director
Cook County Bureau of Planning & Dev. 69 West Washington Street, Suite 2900 Chicago, Illinois 60602
ICATION
Jean-Claude Brizard Chief Executive Officer Chicago Board of Education 125 South Clark Street, 5th Floor Chicago, Illinois 60603
Jacqueline Torres, Director of Finance Metropolitan Water Reclamation District of Greater Chicago 100 East Erie Street, Room 2429 Chicago, Illinois 60611
Douglas Wright
South Cook County Mosquito Abatement District
155th & Dixie Highway P.O.Box 1030 Harvey, Illinois 60426
Dan Donovan, Comptroller Forest Preserve District of Cook County 69 W. Washington Street, Suite 2060 Chicago, IL 60602
Michael P. Kelly, Interim General Superintendent & CEO Chicago Park District 541 North Fairbanks Chicago, Illinois 60611
I, Rahm Emanuel, in connection with the annual report (the "Report") of information required by Section 11 -74.4-5(d) of the Tax Increment Allocation Redevelopment Act, 65 ILCS5/11-74.4-1 et seg, (the "Act") with regard to the Ewing Avenue Redevelopment Project Area (the "Redevelopment Project Area"), do hereby certify as follows:
Attachment B
1. I am the duly qualified and acting Mayor of the City of Chicago, Illinois (the "City") and, as such, I am the City's Chief Executive Officer. This Certification is being given by me in such capacity.
2. During the preceding fiscal year of the City, being January 1 through December 31, 2010, the City complied, in all material respects, with the requirements of the Act, as applicable from time to time, regarding the Redevelopment Project Area.
3. In giving this Certification, I have relied on the opinion of the Corporation Counsel of the City furnished in connection with the Report.
4. This Certification may be relied upon only by the addressees hereof.
IN WITNESS WHEREOF, I have hereunto affixed my official signature as of this 30th day of June, 2011.
Rahm Emanuel, Mayor City of Chicago, Illinois
Department of Law
j CITY OF CHICAGO
June 30,2011
Attachment C
Judy Baar Topinka
Comptroller of the State of Illinois
James R. Thompson Center
100 West Randolph Street, Suite 15-500
Chicago, Illinois 60601
Attention: June Canello, Director of Local
Government
Dolores Javier, Treasurer
City Colleges of Chicago
226 West Jackson Boulevard, Room 1125
Chicago, Illinois 60606
Jean-Claude Brizard Chief Executive Officer Chicago Board of Education 125 South Clark Street, 5th Floor Chicago, Illinois 60603
Jacqueline Torres, Director of Finance Metropolitan Water Reclamation District of Greater Chicago 100 East Erie Street, Room 2429 Chicago, Illinois 60611
Herman Brewer Director
Cook County Bureau of Planning & Dev. 69 West Washington Street, Suite 2900 Chicago, Illinois 60602
Douglas Wright
South Cook County Mosquito Abatement District
155th & Dixie Highway P.O. Box 1030 Harvey, Illinois 60426
Dan Donovan, Comptroller Forest Preserve District of Cook County 69 W. Washington Street, Suite 2060 Chicago, IL 60602
Michael P. Kelly, Interim General Superintendent & CEO Chicago Park District 541 North Fairbanks Chicago, Illinois 60611
Re: Ewing Avenue
Redevelopment Project Area (the "Redevelopment Project Area")
Dear Addressees:
I am the Corporation Counsel of the City of Chicago, Illinois (the "City") and, in such capacity, I am the head of the City's Law Department. In such capacity, I am providing the opinion required by Section 1 l-74.4-5(d)(4) of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et sea,, (the "Act"), in connection with the submission of the report (the "Report") in accordance with, and containing the information required by, Section 1 l-74.4-5(d) of the Act for the Redevelopment Project Area.
1 NORTH LASALLE STREET, ROOM 600, CHICAGO. ILLINOIS 60602
Attachment C
Opinion of Counsel for 2010 Annual Report Page 2
June 30, 2011
Attorneys, past and present, in the Law Department of the City and familiar with the requirements of the Act, have had general involvement in the proceedings affecting the Redevelopment Project Area, including the preparation of ordinances adopted by the City Council of the City with respect to the following matters: approval of the redevelopment plan and project for the Redevelopment Project Area, designation of the Redevelopment Project Area as a redevelopment project area, and adoption of tax increment allocation financing for the Redevelopment Project Area, all in accordance with the then applicable provisions of the Act. Various departments of the City, including, if applicable, the Law Department, Department of Housing and Economic Development, Department of Finance and Office of Budget and Management (collectively, the "City Departments"), have personnel responsible for and familiar with the activities in the Redevelopment Project Area affecting such Department(s) and with the requirements of the Act in connection therewith. Such personnel are encouraged to seek and obtain, and do seek and obtain, the legal guidance of the Law Department with respect to issues that may arise from time to time regarding the requirements of, and compliance with, the Act.
In my capacity as Corporation Counsel, I have relied on the general knowledge and actions of the appropriately designated and trained staff of the Law Department and other applicable City Departments involved with the activities affecting the Redevelopment Project Area. In addition, I have caused to be examined or reviewed by members of the Law Department of the City the certified audit report, to the extent required to be obtained by Section 1 l-74.4-5(d)(9) of the Act and submitted as part of the Report, which is required to review compliance with the Act in certain respects, to determine if such audit report contains information that might affect my opinion. I have also caused to be examined or reviewed such other documents and records as were deemed necessary to enable me to render this opinion. Nothing has come to my attention that would result in my need to qualify the opinion hereinafter expressed, subject to the limitations hereinafter set forth, unless and except to the extent set forth in an Exception Schedule attached hereto as Schedule 1.
i
Based on the foregoing, I am of the opinion that, in all material respects, the City is in compliance with the provisions and requirements of the Act in effect and then applicable at the time actions were taken from time to time with respect to the Redevelopment Project Area.
This opinion is given in an official capacity and not personally and no personal liability shall derive herefrom. Furthermore, the only opinion that is expressed is the opinion specifically set forth herein, and no opinion is implied or should be inferred as to any other matter. Further, this opinion may be relied upon only by the addressees hereof and the Mayor of the City in providing his required certification in connection with the Report, and not by any other party.
Stephen R. Patton Corporation Counsel
ATTACHMENT C
SCUEDVLE1 (Exception Schedule)
(X) ( )
No Exceptions
Note the following Exceptions:
ATTACHMENTS D, E and F
ATTACHMENT D
Activities Statement
Projects that were implemented during the preceding fiscal year, if any, are set forth below: None
Redevelopment activities undertaken within this Project Area during the preceding fiscal year, if any, have been made pursuant to: (i) the Redevlopment Plan for the Project Area, and (ii) any Redevelopment Agreements affecting the Project Area, and are set forth in Section 3 herein by TIF-eligible expenditure category.
ATTACHMENT E
Agreements
Agreements entered into concerning the disposition or redevelopment of property within the Project Area during the preceding fiscal year, if any, are attached hereto.
None
ATTACHMENT F Additional Information
The amounts shown elsewhere in this report, including those shown in Section 3 herein, have been used to pay for project cost within the Project Area and for debt service (if applicable), all in furtherance of the objectives of the Redevelopment Plan for the Project Area.
FY 2010
TIF Name: Ewinq Avenue Redevelopment Project Area
ATTACHMENT H
CITY OF CHICAGO JOINT REVIEW BOARD
0
R
Report of proceedings of a hearing
before the City of Chicago, Joint Review Board held on November 6, 2009, at 10:20 a City Hall, Room 1003, Conference Room, Chicago, Illinois, and presided over by Ms. Tanya Anthony.
PRESENT:
MS. TANYA ANTHONY, CHAIRMAN
MS. GLORIA PERALTA
MS . SUSAN MARE K
MR. FRANCIS THURMAN
MR. JOHN SCHNEIDER
MS . MARTHA PENA
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
REPORTED BY:
By :
LeGrand Reporting Services 333 West Irving Park Rd. Roselle, Illinois Carol Robertson
2
1 MS. ANTHONY: Okay, for the record
2 my name is Tanya Anthony. I am the
3 representative of the Chicago Park District
4 which under Section 117445 of the Tax
5 Increment Allocation Redevelopment Act is
6 one of the statutorily designated members of
7 the Joint Review Board. Until election of a
8 chairperson I will moderate the Joint Review
9 Board meeting.
10 For the record, this meeting of the
11 Joint Review Board is to review the proposed
12 Calumet River Tax Increment Financing
13 District. The date of this meeting was
14 announced at and set by the Community
15 Development Commission of the City of
16 Chicago at its meeting of October 13th, 2009.
17 Notice of this meeting of the Joint
18 Review Board was also provided by certified
19 mail to each taxing district representative
20 on the board, which includes the Chicago
21 Board of Education, the Chicago Community
22 Colleges, District 508, the Chicago Park
23 District, Cook County, the City of Chicago,
24 and the public member. Public notice of this
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
3
1 meeting was also posted as of Wednesday,
2 November 4th, 2009 in various locations
3 throughout City Hall.
4 Our first order of business is to
5 select a chairperson for this Joint Review
6 Board, are there any nominations?
7 MS. MAREK: I nominate Tanya Anthony.
8 MS. ANTHONY: Is there a second for
9 the nomination?
10 MS. P ENA: Martha Pena.
11 MR. SCHNEIDER: John Schneider, Cook
12 County.
13 MR. THURMAN: Francis Thurman, City
14 Colleges of Chicago.
15 MS. ANTHONY: For the record my name
16 is Tanya Anthony. I am the representative of
17 the Chicago Park District, which under
18 Section 117445 of the tax Increment
19 Allocation Redevelopment Act is one of the
20 statutorily designated members of the Joint
21 Review Board. Until election of a
22 chairperson I will moderate the Joint Review
23 Board meetings.
24 For the record there will be two
LeGRAND REPORTING S, VIDEO SERVICES (630} 894-9389
4
1 meetings of the Joint Review Board. This
2 first meeting, the first meeting is to review
3 the proposed Ewing Avenue Tax Increment
4 Finance District. The date of this meeting
5 was announced at and set by the Community
6 Development Commission of the City of
7 Chicago at its meeting on October 13th, 2009.
8 Notice of this meeting of the Joint
9 Review Board was also provided by certified
10 mail to each taxing district represented on
11 the board, which includes the Chicago Board
12 of education, the Chicago Community
13 Colleges, District 508, the Chicago Park
14 District, Cook County, and the City of
15 Chicago. Public notice of this meeting was
16 also posted as of Wednesday, November 4th,
17 2009 in various locations throughout City
18 Hall.
19 When a proposed redevelopment plan
20 would result in displacement of residents
21 from 10 or more inhabited residential units,
22 or would include 75 or more inhabited
2 3 residential units, the TIF Act requires that
24 the public member of the Joint Review Board
LeGRAND REPORTING & VIDEO SERVICES (630) 894-93 89
5
1 must reside in the proposed redevelopment
2 project area.
3 In addition, a municipalities
4 housing impact study, in addition, if a
5 municipalities housing impact study
6 determines that the majority of residential
7 units in the proposed redevelopment project
8 area are occupied by very low, low or
9 moderate income households, as defined in
10 Section 3 of the Illinois Affordable Housing
11 Act, the public member must be a person who
12 resides in very low, low, or moderate income
13 housing with the proposed redevelopment
14 project area.
15 With us today is Martha Pena. Are
16 you familiar with the boundaries of the
17 proposed Ewing Avenue Tax Increment
18 Financing Redevelopment Project Area?
19 MS. PENA: Yes.
20 MS. ANTHONY: Okay. What is the
21 address of your primary residence?
22 MS. PENA: 10648 South Ewing.
23 MS. ANTHONY: Is such address within
24 the boundaries of the proposed Ewing Avenue
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
6
1 Tax Increment Financing Redevelopment
2 Proj ect Area?
3 MS. PENA: Yes.
4 MS. ANTHONY: Have you provided
5 representatives of the City of Chicago's
6 Department of Community Development with
7 accurate information concerning your income
8 and the income of any other members of the
9 household residing at such address?
10 MS. PENA: Yes.
11 MS. ANTHONY: Ms. Pena, are you
12 willing to serve as the public member for the
13 Joint Review Board for the proposed Ewing
14 Avenue Tax Increment Financing Redevelopment
15 Project Area?
16 MS. PENA: Yes.
17 MS. ANTHONY: I will entertain a
18 motion that Martha Pena be selected as the
19 public member. Is there a motion?
20 MS. MARE K : So moved.
21 MS. ANTHONY: Is there a second?
22 MS. PERALTA: Second.
23 MS. ANTHONY: All in favor please
24 vote by saying aye.
LeGRAND REPORTING & VIDEO SERVICES (630) 8 94-9389
7
1 (Chorus of ayes.)
2 MS. ANTHONY: All opposed please vote
3 by saying no. Let the record reflect that
4 Martha Pena has been selected as the public
5 member for the proposed Ewing Avenue Tax
6 Increment Financing Redevelopment Project
7 Area.
8 Our next order of business is to
9 select a chairperson for this Joint Review
10 Board. Are there any nominations?
11 MS. MAREK: I'll nominate Tanya
12 Ant hony.
13 MS. ANTHONY: Is there a second for
14 the nomination?
15 MR. SCHNEIDER: I'll second.
16 MS. ANTHONY: Are there any other
17 nominations? Let the record reflect that
18 there were no other nominations. All in
19 favor of the nomination please vote by saying 2 0 aye .
21 (Chorus of ayes.)
22 MS. ANTHONY: All opposed please vote
23 by saying no. Let the record reflect that I,
24 Tanya Anthony, have been selected as
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
8
1 chairperson and will now serve as the
2 chairperson for the remainder of the
3 meeting.
4 As I mentioned, at this meeting we
5 will be reviewing a plan for the proposed tax
6 increment financing district proposed by the
7 City of Chicago. Staff of the City's
8 Departments of Community Development and
9 Law, and other departments have reviewed
10 this plan which was introduced to the City's
11 Community Development Commission on October
12 13th, 2009. We will listen to a presentation
13 by the consultant on the plan. Following the
14 presentation we can address any questions
15 that the members might have for the
16 consultant or city staff.
17 An amendment to the TIF requires us
18 to have, to base our recommendations to
19 approve or disapprove the proposed Ewing
20 Avenue Tax Increment Financing District on
21 the basis of the area and the plan satisfying
22 the plan requirements, the eligibility
23 criteria defined in the TIF Act and
24 objectives of the TIF Act.
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
9
1 If the board approves the plan, the
2 board will then issue an advisory non-
3 binding recommendation by the vote of the
4 majority of those members present and
5 voting. Such recommendation shall be
6 submitted to the City within 30 days after
7 the board meeting.
8 Failure to submit such
9 recommendation shall be deemed to constitute
10 approval by the board. If the board
11 disapproves the plan the board must issue a
12 written report describing why the plan and
13 area failed to meet one or more of the
14 objectives of the TIF Act, and both the plan
15 requirements and the eligibility criteria of
16 the TIF Act.
17 ' The City will then have 30 days to
18 resubmit a revised plan. The board and the
19 City must also confer during this time to try
20 to resolve the issues that led to the board's
21 disapproval. If such issues cannot be
22 resolved or if the revised plan is
23 disapproved, the City may proceed with the
24 plan, but the plan can be approved only with
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
10
1 a three-fifths vote of the City counsel,
2 excluding positions of members that are
3 vacant and those members that are ineligible
4 to vote because of conflict of interest.
5 At this time we'll have a
6 presentation by the consultant on the Ewing
7 Avenue TIF Redevelopment Project Area.
8 MS. MORONEY: Good morning. My name
9 is Ann Moroney and I'm with the firm of
10 Johnson's Research Group. We were hired by
11 the City to undertake the feasibility study
12 for the Ewing Avenue study area, and joined
13 in that study by the firm of ERS, Ernest
14 Sawyer Enterprises.
15 I'm here today to talk to you about
16 the project area. The Ewing Avenue project
17 area pictured here is located entirely in the
18 Tenth Ward on the far southeast side of
19 Chicago, and it covers the east side and
20 Hegewisch community areas. It's adjacent to
21 two existing TIF's Lake Calumet which is,
22 covers the vast majority of the areas around
23 of and north following it along, and then
24 126th and Torrence TIF which is the southwest
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
11
1 end of the TIF area.
2 The proposed study area is 348 acres
3 in size, and it generally runs along the
4 major corridors of the community. It has
5 1,116 tax parcels in it and it's made up of
6 an improved area and a vacant area for
7 purposes of eligibility analysis.
8 On the map here in the lighter blue
9 you see the improved area which makes up the
10 majority of the area, and the vacant area is
11 on the southeast end. The improved area we
12 found qualifies as a conservation area.
13 There are four factors that are present to a
14 meaningful degree and reasonably distributed
15 throughout the improved area, those include
16 deterioration and with utilities, declining
17 EAV and lack of community planning. It also
18 meets the Threshold H criteria that requires
19 50 percent or more of the buildings be 35
20 years of age or older. In this improved
21 portion, 88 percent of the buildings are 35
22 years of age or older.
23 The vacant area, located down here in
24 the blue, is largely industrial zoned
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
12
1 property that has never been developed, that
2 includes 44.5 acres, and that area, vacant
3 area has to qualify under one of two sets of
4 criteria, this qualifies under both sets of
5 criteria for vacant area.
6 Some of the supporting evidence of
7 disinvestment in the area is exemplified by
8 the large number of vacant lots throughout
9 the area. There has been minimal new
10 construction in the last five years and there
11 are additional factors that are present,
12 although concentrated in the commercial
13 corridors of the area. And while they have a
14 large, while they have an impact on the area
15 as a whole, we were not able to say that they
16 were reasonably distributed throughout the
17 improved area.
18 Some of the goals and objectives for
19 the project area, the reasons for setting up
20 this TIF district is to, is that the area,
21 one is that the area is large, in need, in
22 significant need of a new school, new school
23 facilities. Gallistel School is one of the,
24 one of the most overcrowded schools in the
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
13
1 City, and the hope is that we can provide a
2 new school facility in the area, where also . 3 some of the goals include constructing the
4 commercial face of the project area, the
5 commercial corridors of 106th, Indianapolis
6 and Ewing Avenue particularly have suffered
7 from disinvestment and who would benefit
8 from this TIF.
9 Also, as the gateway to Chicago and
10 to the community from Indiana and other
11 southern communities, this would benefit
12 from improvements to its image,
13 functionality, corridors and sustainabi1ity
14 of its arterial corridors. And then lastly,
15 to support residential development wherever
16 possible.
17 The current EAV or the 2007 EAB,
18 which was what was available as of the
19 writing of this plan is $58.6 million. We
20 have projected that after some conservative
21 assumptions about development in the area,
22 that in 2033, the final year of the TIF, EAB
23 could be as much as $233 million. That leads
24 us to provide a budget for project cost
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
14
1 redevelopment activity with this area of $82
2 million.
3 As part of this project we, we did a
4 housing impact study. There are 75, well
5 there are more than 75 occupied housing
6 units, so a housing impact study was
7 undertaken by Ernest Sawyer Enterprises for
8 us, and it was found that there are 760
9 residential units, 726 of those residential
10 units are occupied. There are no plans to
11 displace any of these occupied residents,
12 however as part of the methodology that was
13 done with the plan, we did identify that
14 there was one dilapidated building, or one
15 unit within a dilapidated building that,
16 that would be a possible displacement.
17 And we also identified in the future
18 land use a change from the existing land use
19 that would cause a second unit to be
20 displaced if ever those, if ever development
21 activity is carried through in that manner.
22 So, that kind of wraps up the, the
23 bulk of the presentation. If there's any
24 questions I'd be happy to answer those.
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
15
1 MR. SCHNEIDER: On your budget of $82
2 million, and I applaud you for what you're
3 looking to do, how is this area, give me some
4 ideas in terms of projects or what you're
5 looking at doing in this area that's going to
6 create $82 million of expendable dollars.
7 MS. MORONEY: Well there's a larger
8 area for, industrial area for industrial
9 development, prime area for industrial
10 development. It's not hampered by
11 environmental contamination and it has
12 access in proximity to other industrial
13 areas so that we feel that it would work well
14 to serve as a compatible or comparable use in
15 that area, that will bring significant
16 dollars we could achieve that development,
17 residential development, and then there's a
18 number of spots for commercial development
19 in or redevelopment of existing areas,
20 particularly along Indianapolis Boulevard
21 where you can take advantage both of the
22 access to and from the skyway and --
23 MR. SCHNEIDER: So, in terms of the
24 industrial area that you're talking about,
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
16
1 the water table is about one foot below the
2 surface level. Is there money in here to
3 deal with the lack of water and sewers on
4 that property and also deal with, not the
5 environmental issue, but the high water
6 table?
7 MS. MORONEY: We have not, we've not
8 drawn up estimates as part of this study, so
9 I can't answer that.
10 MR. SCHNEIDER: Okay. Thanks.
11 MS. PERALTA: That industrial area,
12 is it abandoned or --
13 MS. MORONEY: It's never been
14 developed.
15 MS. PERALTA: Then why is it, why is
16 it deemed an industrial area if it's never
17 been an industrial area?
18 MS. MORONEY: Well it's zoned
19 industrial.
2 0 MS. PERALTA: Oh.
21 MS. MORONEY: This area south of 18th
22 Street is industrial. Over here you have --
23 over here you have, you know, industry, so
24 this is your, this is your residential that
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
17
1 ends right here, and from a planning
2 standpoint it makes sense to do this.
3 However, there is a natural area over here, a
4 state park, Wolf Lake, so serious
5 consideration, careful consideration has to
6 be done to what kind of an industry goes in
7 there, especially -- residential and so you
8 have to be careful not to --
9 MS. ANTHONY: That's south of 118th
10 Street, right?
11 MS. MORONEY : Yes. Did I say 17th?
12 MS. ANTHONY: 18th.
13 MS. MORONEY: 18th, oh, add 100
14 blocks --
15 MS. ANTHONY: Okay. Based upon the
16 presentation are there any other questions?
17 Okay, if there are no further questions I
18 will entertain a motion that this joint
19 review board finds the proposed Ewing Avenue
20 Tax Increment Financing Redevelopment
21 Project Area satisfies the redevelopment
22 plan requirements under the TIF Act, the
23 eligibility criteria defined in Section
24 117443 of the TIF Act and objectives of the
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
1 TIF Act, and that based on such findinc
2 approve such proposed plan under the TI
3 Is there a motion?
4 MS. MARE K: So moved.
5 MS. ANTHONY: Is there a second
6 the motion?
7 MS. MARE K: I'll second.
8 MS. ANTHONY: Is there any furt
9 discussion? If not, all in favor pleas
10 bysayi ng aye.
11 (Chorus of .ayes.)
12 MS. ANTHONY: All opposed pleas
13 by saying no. Let the record reflect t
14 Joint Review' Board's approval of the
15 proposed Ewing Avenue Tax Increment
16 Financing Redevelopment Project Area un
17 the TIF Act.
18 At this time.I'll adjourn the m<
19 for the Ewing Avenue Joint Review Board
20 (Whereupon the above matter
21 concluded at 10:20 a.m.)
55
1 STATE OF ILLINOIS )
2 ) SS
3 COUNTY OF C O O K )
5 6 7 8 9 1 0 1 1 1 2 1 3 1 4 1 5 1 6 1 7 1 8
1 9
2 0 2 1 2 2 2 3 2 4
I, CAROL ROBERTSON, depose and say that I am a direct record court reporter doing business in the State of Illinois; that I reported verbatim the foregoing proceedings and that the foregoing is a true and correct transcript to the best of my knowledge and ability.
CAROL ROBERTSON
SUBSCRIBED AND SWORN TO BEFORE ME THIS
DAY OF
A
. D . 2 0 6?
NOTARY PUBLIC
OFFICIAL SEAL RONALD N. LEGRAND.JR. Notary Public - State of Illinois jMy Commission Expires Ocl 03, 201 o!
LeGRAND REPORTING & VIDEO SERVICES (630) 894-9389
ATTACHMENT K
CITY OF CHICAGO. ILLINOIS
EWING AVENUE REDEVELOPMENT PROJECT
FINANCIAL REPORT
DECEMBER 31. 2010
CITY OF CHICAGO. ILLINOIS
EWING AVENUE REDEVELOPMENT PROJECT
CONTENTS
Page
INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS
AND SUPPLEMENTARY INFORMATION 1-2
Management's discussion and analysis - 3-5
Statement of net assets and governmental fund balance sheet 6 Statement of activities and governmental fund revenues,
expenditures and changes in fund balance 7
Notes to financial statements 8-10
SUPPLEMENTARY INFORMATION
Schedule of expenditures by statutory code 11
Bansley and Kiener, L.L.P.
Certified Public Accountants
o'hare plaza 8745 west higgins road, suite 200 chicago, illinois 6063 i
AREA CODE 312 263.2700
INDEPENDENT AUDITOR'S REPORT
The Honorable Rahm Emanuel, Mayor Members of the City Council City of Chicago, Illinois
We have audited the accompanying financial statements of the Ewing Avenue Redevelopment Project of the City of Chicago, Illinois, as of and for the year ended December 31, 2010, as listed in the table of contents. These financial statements are the responsibility of the City of Chicago's management. Our responsibility is to express an opinion on these 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 financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
As discussed in Note 1, the financial statements present only the Ewing Avenue Redevelopment Project and do not purport to, and do not present fairly the financial position of the City of Chicago, Illinois, as of December 31, 2010, and the changes in its financial position for the year then ended 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 Ewing Avenue Redevelopment Project of the City of Chicago, Illinois, as of December 31, 2010, and the changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America.
The Management's Discussion and Analysis on pages 3 through 5 is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it.
The Honorable Rahm Emanuel, Mayor Members of the City Council
-2-
Our audit was conducted for the purpose of forming an opinion on the financial statements taken as a whole. The schedule of expenditures by statutory code on page 11, which is also the responsibility of the City of Chicago's management, is presented for purposes of additional analysis and is not a required part of the financial statements of Ewing Avenue Redevelopment Project of the City of Chicago, Illinois. Such additional information has been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.
Certified Public Accountants
June 9, 2011
3
CITY OF CHICAGO, ILLINOIS EWING AVENUE REDEVELOPMENT PROJECT
MANAGEMENT'S DISCUSSION AND ANALYSIS (UNAUDITED)
As management of the Ewing Avenue Tax Increment Redevelopment Project Area (Project), we offer the readers of the Project's financial statements this narrative overview and analysis of the Project's financial performance for the year ended December 31, 2010. Please read it in conjunction with the Project's financial statements, which follow this section.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the Project's basic financial statements. The Project's basic financial statements include three components: 1) government-wide financial statements, 2) governmental fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information concerning the Project's expenditures by statutory code.
Basic Financial Statements
The basic financial statements include two kinds of financial statements that present different views of the Project - the Government-Wide Financial Statements and the Governmental Fund Financial Statements. These financial statements also include the notes to the financial statements that explain some of the information in the financial statements and provide more detail.
Government-Wide Financial Statements
The government-wide financial statements provide both long-term and short-term information about the Project's financial status and use accounting methods similar to those used by private-sector companies. The statement of net assets includes all of the project's assets and liabilities. All of the current year's revenues and expenses are accounted for in the statement of activities regardless of when cash is received or paid. The two government-wide statements report the Project's net assets and how they have changed. Net assets - the difference between the Project's assets and liabilities - is one way to measure the Project's financial health, or position.
Governmental Fund Financial Statements
The governmental fund financial statements provide more detailed information about the Project's significant funds - not the Project as a whole. Governmental funds focus on: 1) how cash and other financial assets can readily be converted to cash flows and 2) the year-end balances that are available for spending. Consequently, the governmental fund statements provide a detailed short-term view that helps determine whether there are more financial resources that can be spent in the near future to finance the Project. Because this information does not encompass the additional long-term focus of the government-wide statements, we provide additional information at the bottom of the statements to explain the relationship (or differences) between them.
4
CITY OF CHICAGO, ILLINOIS EWING AVENUF RFOEVELOPMENT PROJECT
MANAGEMENT'S DISCUSSION AND ANALYSIS (UNAUDITED) (Continued)
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and governmental fund financial statements. The notes to the financial statements follow the basic financial statements.
Other Supplementary Information
In addition to the basic financial statements and accompanying notes, this report also presents a schedule of expenditures by statutory code. This supplementary information follows the notes to the financial statements.
Condensed Financial Statements
The condensed financial statements are presented on the following page. Analysis of Overall Financial Position and Results of Operations
Condensed comparative financial statements are not provided as this is the first year of financial activity for the Project. Property tax revenue for the Project was $0 for the year. The change in net assets produced an increase in net assets of $647,046. The Project's net assets increased to $647,046 making that amount of funding available to be provided for purposes of future redevelopment in the Project's designated area.
CITY OF CHICAGO. ILLINOIS EWING AVENUE REDEVELOPMENT PROJECT
MANAGEMENT'S DISCUSSION AND ANALYSIS (UNAUDITED) (Concluded)
Government-Wide
Total assets Total liabilities Total net assets
Total revenues Total expenses Operating transfers in Changes in net assets Ending net assets
6
CITY OF CHICAGO ILLINOIS EWING AVENUE REDEVELOPMENT PROJECT
STATEMENT OF NET ASSETS AND GOVERNMENTAL FUND BALANCE SHEET DECEMBER 31. 2010
Cash and investments
ASSETS
Governmental
Fund Adjustments
$ 647,046 $
Statement of
Net Assets $ 647,046
FUND BALANCE/NET ASSETS
Fund balance: Designated for future redevelopment project costs
Total fund balance
Net assets: Restricted for future redevelopment project costs
647,046
$ 647,046
(647,046)
647,046
647,046
Total net assets
$ 647,046 $ 647,046
The accompanying notes are an integral part of the financial statements.
7
CITY OF CHICAGO. ILLINOIS EWING AVENUE REDEVELOPMENT PROJECT
STATEMENT OF ACTIVITIES AND GOVERNMENTAL FUND REVENUES. EXPENDITURES
AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 2010
Governmental Statement of
Fund Adjustments Activities
Revenues $ - $ - $
Expenditures/expenses:
Economic development projects 1,126,410 _- 1,126,410
Excess of expenditures over revenues (1,126,410) - (1,126,410)
Other financing sources:
Operating transfers in (Note 2) 1,773,456 _-__ 1,773,456
Excess of revenues and other financing sources over expenditures 647,046
Change in net assets
(647,046)
647,046 647,046
Fund balance/net assets:
Beginning of year _- _- _^_
End of year $ 647,046 $ $ 647,046
The accompanying notes are an integral part of the financial statements.
CITY OF CHICAGO, ILLINOIS EWING AVENUE REDEVEI OPMENT PROJECT
8
NOTES TO FINANCIAL STATEMENTS
Note 1 - Summary of Significant Accounting Policies
(a) Reporting Entity
In March 2010, the City of Chicago (City) established the Ewing Avenue Tax Increment Redevelopment Project Area (Project). The area has been established to finance improvements, leverage private investment and create and retain jobs. The Project is accounted for within the special revenue funds of the City.
(b) Government-Wide and Fund Financial Statements
The accompanying financial statements of the Project have been prepared in conformity with generally accepted accounting principles as prescribed by the Governmental Accounting Standards Board (GASB). In June 1999, the GASB unanimously approved Statement No. 34 (as amended by Statement No. 37), Basic Financial Statements - Management's Discussion and Analysis - for State and Local Governments and at a later date, Statement No. 38 Certain Financial Statements Disclosures, and include the following:
A Management Discussion and Analysis (MD&A) section providing an analysis of the Project's overall financial position and results of operations.
Government-wide financial statements prepared using the economic resources measurement focus and the accrual basis of accounting for all the Project's activities. Fund financial statements, which focus on the Project's governmental funds current financial resources measurement focus.
(c) Measurement Focus, Basis of Accounting and Financial Statements Presentation
The government-wide financial statements are reported using the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied.
The governmental fund financial statements are prepared on the modified accrual basis of accounting with only current assets and liabilities included on the balance sheet. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual, i.e., both measurable and available to finance expenditures of the current period. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Property taxes are susceptible to accrual and recognized as a receivable in the year levied. Revenue recognition is deferred unless the taxes are received within 60 days subsequent to year-end. Expenditures are recorded when the liability is incurred.
Private-sector standards of accounting and financial reporting issued prior to December 1, 1989, generally are followed in government-wide financial statements to the extent that those standards do not conflict with or contradict guidance of the Governmental Accounting Standards Board. The City has elected not to follow subsequent private-sector guidance.
When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted resources first, then unrestricted resources, as they are needed.
CITY OF CHICAGO. ILLINOIS EWING AVENUE REDEVELOPMENT PROJECT
9
NOTES TO FINANCIAL STATEMENTS (Continued)
Note 1 - Summary of Significant Accounting Policies (Concluded)
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from these estimates.
(d) Assets, Liabilities and Net Assets Cash and Investments
Cash belonging to the City is generally deposited with the City Treasurer as required by the Municipal Code of Chicago. The City Comptroller issues warrants for authorized City expenditures which represent a claim for payment when presented to the City Treasurer. Payment for all City warrants clearing is made by checks drawn on the City's various operating bank accounts.
The City Treasurer and City Comptroller share responsibility for investing in authorized investments. Interest earned on pooled investments is allocated to participating funds based upon their average combined cash and investment balances.
The City values its investments at fair value or amortized cost. U.S. Government securities purchased at a price other than par with a maturity of less than one year are reported at amortized cost.
Capital Assets
Capital assets are not capitalized in the governmental fund but, instead, are charged as current expenditures when purchased. The Government-wide financial statements (i.e., the statement of net assets and the statement of changes in net assets) of the City includes the capital assets and related depreciation, if any, of the Project in which ownership of the capital asset will remain with the City (i.e. infrastructure, or municipal building). All other construction will be expensed in both the government-wide financial statements and the governmental fund as the City nor Project will retain the right of ownership.
(e) Stewardship, Compliance and Accountability
Illinois Tax Increment Redevelopment Allocation Act Compliance
The Project's expenditures include reimbursements for various eligible costs as described in subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act and the Redevelopment Agreement relating specifically to the Project. Eligible costs include but are not limited to survey, property assembly, rehabilitation, public infrastructure, financing and relocation costs.
Reimbursements
Reimbursements, if any, are made to the developer for project costs, as public improvements are completed and pass City inspection.
CITY OF CHICAGO. ILLINOIS EWING AVENUE REDEVELOPMENT PROJECT
10
NOTES TO FINANCIAL STATEMENTS (Concluded)
Note 2 - Operating Transfers In
During 2010, in accordance with State statutes, the Project received $1,773,456 from the contiguous Lake Calumet Area Industrial Redevelopment Project for expenses for street resurfacing of Avenue O between 123rd Street and 126th Street.
SUPPLEMENTARY INFORMATION
11
CITY OF CHICAGO. ILLINOIS EWING AVENUE REDEVELOPMENT PROJECT
SCHEDULE OF EXPENDITURES BY STATUTORY CODE
Code Description
Costs of the construction of public works or improvements
$1,126,410
ATTACHMENT L
BANSLEY AND KlENER, L.L.P.
Certified Public Accountants
Established 1922
O'HARE PLAZA 8745 WEST HIGGINS ROAD SUITE 200 CHICAGO, ILLINOIS 60631 312.263.2700 FAX 31 2.263.6935 WWW.BK-CPA.COM
The Honorable Rahm Emanuel, Mayor Members of the City Council City of Chicago, Illinois
We have audited, in accordance with auditing standards generally accepted in the United States of America, the statement of net assets and governmental fund balance sheet of Ewing Avenue Redevelopment Project of the City of Chicago, Illinois as of December 31, 2010, and the related statement of activities and governmental fund revenues, expenditures and changes in fund balance for the year then ended, and have issued our report thereon dated June 9, 2011.
In connection with our audit, nothing came to our attention that caused us to believe that the Project failed to comply with the regulatory provisions in Subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Allocation Redevelopment Act and Subsection (o) of Section 11-74.6-10 of the Illinois Industrial Jobs Recovery Law as they relate to the eligibility for costs incurred incidental to the implementation of the Ewing Avenue Redevelopment Project of the City of Chicago, Illinois.
This report is intended for the information of the City of Chicago's management. However, this report is a matter of public record, and its distribution is not limited.
INDEPENDENT AUDITOR'S REPORT
Certified Public Accountants
June 9, 2011
Members: American Institute of CPA's Illinois CPA Society
An Independent Firm Associated with Moore Stephens
ATTACHMENT M
INTERGOVERNMENTAL AGREEMENTS FY 2010
A list of all intergovernmental agreements in effect in FY 2010 to which the municpality 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)]_
Name of Agreement |
Description of Agreement |
Amount Transferred Out |
Amount Received |
None |
|
|
|
FY 2010
TIF Name: Ewino Avenue Redevelopment Project Area
Ewing Avenue Redevelopment Project Area 2010 Annual Report