DP TIF 3 FY 2015CITY OF DES PLAINES
TAX INCREMENT FINANCING DISTRICT NO. 3
WILLE ROAD / MOUNT PROSPECT TIF DISTRICT
ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
City of Des Plaines
Tax Increment Financing District No. 3
Wille Road / Mount Prospect TIF District
Table of Contents
SECTION TITLE PAGE
1.0 Name of Redevelopment Project Area and
Contact Information 1
2.0 Redevelopment Project Information 3
Attachment A Amendments to the Redevelopment Plan, the
Redevelopment Project and/or Area Boundary 4
Attachment B Certification of the Chief Executive Officer of the
municipality that the municipality has complied with
all of the requirements of the TIF Statute (the "Act")
during the reporting Fiscal Year. 5
Attachment C Opinion of legal counsel that the municipality is in
compliance with the Act 6
Attachment D Statement setting forth all activities undertaken in
furtherance of the objectives of the Redevelopment Plan 8
Attachment E Description of Agreements Regarding Property Disposition
or Redevelopment 9
Attachment F Additional Information on Uses of Funds Related to Achieving
Objectives of the Redevelopment Plan 10
Attachment G Information Regarding Contracts with TIF Consultants 11
Attachment H Reports Submitted by Joint Review Board 12
Attachment I Summary of any obligations issued by the municipality and
official statements 13
Attachment J Financial Analysis: TIF Obligations 14
Attachments For special tax allocation funds that have experienced cumulative
K and L deposits of incremental tax revenues of $100,000 or more, a
certified audit report reviewing compliance with the Act .
15
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
SECTION TITLE PAGE
Attachment Intergovernmental Agreements 16
M
3.1 Analysis of Special Tax Allocation Fund 17
3.2 Itemized List of Expenditures from Special Tax
Allocation Fund 19
3.3 Special Tax Allocation Fund Balance (end of
reporting period) 24
4.0 Property purchased by the municipality within the
Redevelopment Project Area 26
5.0 Review of Public and Private Investment 28
6.0 Optional Sections 30
Exhibit A
Exhibit B
Joint Review Board Minutes
Audit and Compliance Letter
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
Section 1. Name of Redevelopment Project Area and Contact Information
Refer to chart attached.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
1
FY 2015
ANNUAL TAX INCREMENT FINANCE
REPORT
Name of Municipality: Des Plaines
County:
Unit Code:
Cook
016/140/30
STATE OF ILLINOIS
COMPTROLLER
LESLIE GEISSLER MUNGER
Reporting Fiscal Year:
Fiscal Year End:
2015
12/31/2015
TIF Administrator Contact Information
First Name: Michael
Address: 1420 Miner Street
Telephone: 847/391-5488
Mobile na
Mobile
Provider
na
Last Name: Bartholomew
Title: City Manager
City: Des Plaines
E -mail -
Zip:
60016
required martholomewPdesplaines.org
Best way to _x_ Email _X_Phone
contact Mobile Mail
I attest to the best of my knowledge, this report of the redevelopment project areas in: CityNillage of
Des Plaines
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 Administrator
Date
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 FOR EACH TIF DISTICT
Name of Redevelopment Project Area
Date Designated
Date Terminated
TIF No. 1 Downtown
7/15/1985
TIF No. 3 Willie Road Mt. Prospect Road*
8/7/2000
TIF No. 4 Five Corners Rand Road
10/2006
11/19/2014
TIF No. 5 Lee Street Perry Street
4/21/2001
TIF No. 6 Mannheim - Higgins Road
10/15/2001
TIF No. 7 - Higgins Road and Pratt Avenue
10/20/2014
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.]
2
SECTION 2 [Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.]
FY 2015
Name of Redevelopment Project Area: TIF 3 Willie Road
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
* Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed.
3
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 from any source 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 taxes 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.
3
Attachment A Amendments to the Redevelopment Plan, the Redevelopment Project
and/or the Area Boundary
There were no amendments to the Redevelopment Plan or to the Redevelopment Project Area
within the reporting Fiscal Year.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
4
Attachment B Certification of the Chief Executive Officer of the municipality that the
municipality has complied with all of the requirements of the Act during the
reporting Fiscal Year.
Re: City of Des Plaines Certificate of Compliance
Tax Increment Financing District #3 — Wille Rd./Mt. Prospect Rd.
For Fiscal Year Ending December 31, 2015
I, Matthew J. Bogusz, the duly elected Chief Executive Officer of the City of Des
Plaines, County of Cook, State of Illinois, do hereby certify that to the best of my knowledge, the
City of Des Plaines complied with the requirements pertaining to the Illinois Tax Increment
Redevelopment Allocation Act during the fiscal year beginning January 1, 2015 and ending
December 31, 2015.
MAYOR DATE
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
5
Attachment C Opinion of legal counsel that the municipality has complied with the Act.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
6
RE: Attorney Review City of Des Plaines TIF District #3
To Whom It May Concern:
This will confirm that I am the General Counsel for the City of Des Plaines, Illinois. I have
reviewed all information provided to me by the City staff and consultants, and I find that the City
of Des Plaines has conformed to all applicable requirements of the Illinois Tax Increment
Redevelopment Allocation Act set forth thereunder for the fiscal year beginning January 1, 2015
and ending December 31, 2015, to the best of my knowledge and belief.
Sincerely,
General Counsel
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
Attachment D Statement setting forth all 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 & B) and 5/11-74.6-22(d)(7)(A & B)]
TIF #3
The City of Des Plaines' (the "City's") third TIF District was established in
August, 2000 and is formerly known as the City's Wille Rd./Mt. Prospect Rd. TIF
Redevelopment Plan and Project Area. This TIF is located just west of the
terminated TIF No. 2. Part of the City's contribution to redevelopment included
utilities and improvements to Wille Road.
There is an approximately 411,000 sq. ft. warehouse distribution facility (Phase
1), which is currently occupied by four logistics tenants. Adjacent to Phase 1 is
an approximately 250,000 sq. ft. industrial facility that has also been completed
within this area in late 2007. The two phases essentially complete redevelopment
uses per the TIF plan. Due to the application for Cook County's Class 6(b) real
estate tax incentive by owners and tenants, projected incremental taxes have been
reduced in relation to debt service requirements. For this reason, the City sought
and received State approval for a 12 year extension to the TIF term in order to
more closely match incremental taxes and debt service amounts. The restructuring
of TIF debt occurred in order to extend outstanding debt service schedules to
conform to the extended TIF term. All affected taxing districts approved an Inter
Governmental Agreement expressing their support of the term extension prior to
State legislative action in the prior reporting Fiscal Year.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
8
Attachment E Description of 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)]
TIF #3
There were no new redevelopment agreements approved for this area in the reporting
fiscal year.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
9
Attachment F Additional Information on 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)]
The City of Des Plaines continued to implement the primary objectives of the TIF #3
Redevelopment Plan and Project by assisting in "promoting the redevelopment of
commercial/industrial users within the RPA and to attract new and retain existing businesses".
City officials and staff worked expeditiously to monitor the inflow and outflow of tax receipts
generated by the additional development of the area so as to continue to "provide for
implementation of economic development and commercial/industrial redevelopment strategies
which benefit the City and its residents."An intergovernmental agreement with affected taxing
districts and State legislative approval of an extended TIF term are expected to assist in the
City's restructuring of debt obligations.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
10
Attachment G Information regarding contracts that TIF advisors or consultants have entered
into with entities or persons 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)]
The City utilized the services of Kane, McKenna and Associates, Inc. during the previous fiscal
year in order to assist in monitoring the TIF Districts regarding their financial condition, with
respect to the annual JRB meeting and with respect to development project negotiations. Fees
were based upon hourly rates for services rendered and did not include contingent payments.
These fees were included in the City's annual anticipated budgets and did not exceed the City's
estimates.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
11
Attachment H Reports Submitted by Joint Review Board.
No reports were submitted by the Joint Review Board. The Board met on September 9, 2015.
Minutes of the meeting are attached as Exhibit A.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
12
Attachment I Summary of any obligations issued by the municipality and official statements
No obligations were issued by the City in the reporting fiscal year.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
13
Attachment J Financial Analysis: TIF Obligations
The City continued to monitor the payment of existing obligations and reviewed the tax flows
associated with current projects in order to determine coverage. Outstanding principal amounts,
as well as future interest payments, associated with existing debt are summarized in Section 3.3.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
14
Attachments K and L
For special tax allocation funds that have experienced cumulative deposits of incremental tax
revenues of $100,000 or more, a certified audit report reviewing compliance with the Act
performed by an independent public accountant certified and licensed by the authority of the
State of Illinois. The audit report shall contain a letter from the independent certified public
accountant indicating compliance or noncompliance with the requirements of subsection (q) of
Section 11-74.4-3.
Relevant portions of the City's audit and the compliance letter are attached as Exhibit B.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
15
Attachment M Intergovernmental Agreements
Not applicable.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
16
Section 3.1 Analysis of Special Tax Allocation Fund
Refer to table attached.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
17
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.
FY 2015
TIF NAME: TIF No. 3 Wille Road
Fund Balance at Beginning of Reporting Period
$ (3,159,273)
Revenue/Cash Receipts Deposited in Fund During Reporting FY:
Reporting Year
Cumulative*
% of Total
Property Tax Increment
$ 547,683
$ 4,963,739
13%
State Sales Tax Increment
0%
Local Sales Tax Increment
0%
State Utility Tax Increment
0%
Local Utility Tax Increment
0%
Interest
$ 9
$ 355,281
1%
Land/Building Sale Proceeds
0%
Bond Proceeds
$ 23,282,218
60%
Transfers from Municipal Sources
$ 10,055,760
26%
Private Sources
0%
Other (identify source ; if multiple other sources, attach
$ 421,329
1%
schedule)
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)
Distribution of Surplus
Total Expenditures/Disbursements
NET INCOME/CASH RECEIPTS OVER/(UNDER) CASH DISBURSEMENTS
FUND BALANCE, END OF REPORTING PERIOD*
*must be completed where current or prior
year(s) have reported funds
$ 547,692
$ 39,078,327
100%
$ 662,908
$ 662,908
$ (115,216)
$ (3,274,489)
* if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
SURPLUS*/(DEFICIT)(Carried forward from Section 3.3)
18
$ (21,720,905)
Section 3.2 Itemized List of Expenditures from Special Tax Allocation Fund
Refer to tables attached.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
19
SECTION 3.2 A- (65 ILCS 5/11-74.4-5 (d) (5) and 65 ILCS 5/11-74.6-22 (d) (5))
FY 2015
TIF NAME: TIF No. 3 WiIIe Road
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)]
Amounts
Reporting Fiscal Year
1. Costs of studies, administration and professional services—Subsections (q)(1) and (o) (1)
Contractual services
835
Transfers to city
5,360
6,195
2. Cost of marketing sites—Subsections (q)(1.6) and (o)(1.6)
3.Property assembly: property acquisition, building demolition, site preparation and environmental
site improvement costs. Subsections (q)(2), (o)(2) and (o)(3)
4.Costs of rehabilitation, reconstruction, repair or remodeling of existing public or private buildings.
Subsection (q)(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
20
SECTION 3.2 A
PAGE 2
7. Cost of job training and retraining, including "welfare to work' programs Subsection (q)(5), (o)(7)
and (o)(12)
8.Financing costs related to obligations issued by the municipality. Subsection (q) (6) and (o)(8)
Debt Service
656,713
656,713
9. Approved taxing district's capital costs. Subsection (q)(7) and (o)(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)(10)
12.Payments in lieu of taxes as defined in Subsections 11-74.43(m) and 11-74.6-10(k). Subsection
(q)(9) and (o)(11)
13. Costs of job training, retraining advanced vocational or career education provided by other
taxing bodies. Subsection (q)(10) and (o)(12)
21
SECTION 3.2 A
PAGE 3
14. Costs of reimbursing private developers for interest expenses incurred on approved
redevelopment projects. Subsection (q)(11)(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)(11)(F) - Tax Increment Allocation Redevelopment TIFs ONLY
16. Cost of day care services and operational costs of day care centers. Subsection (q) (11.5) -
Tax Increment Allocation Redevelopment TIFs ONLY
TOTAL ITEMIZED EXPENDITURES
662,908
22
Section 3.2 B
FY 2015
TIF NAME: TIF No. 3 Wille Road
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
Bond Funds
Debt service
656,713.00
23
Section 3.3 Special Tax Allocation Fund Balance (end of reporting period).
Refer to table attached.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
24
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
FY 2015
TIF NAME: TIF No. 3 WiIle Road
FUND BALANCE, END OF REPORTING PERIOD
1. Description of Debt Obligations
(3,274,489)
Amount of Original
Issuance
Amount Designated
Taxble Bonds Series 2004 B
$ 900,000
Bonds Series 2005 A
$ 5,550,000
Bonds Series 2005 G
$ 500,000
$ -
Bonds Series 2008 A
$ 1,241,000
$ 767,788
Bonds Series 2010 A
$ 3,945,000
$ 5,281,146
Bonds Series 2010 B
$ 6,110,760
$ 8,167,199
Bonds Series 2011
$ 755,000
$ 811,989
Bonds Series 2013
$ 565,000
$ 482,556
Bonds Series 20146
$ 2,715,000
$ 2,935,738
Total Amount Designated for Obligations
2. Description of Project Costs to be Paid
$ 22,281,760
18,446,416
Total Amount Designated for Project Costs
TOTAL AMOUNT DESIGNATED
SURPLUS*/(DEFICIT)
18,446,416
(21,720,905)
* NOTE: If a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing
25
Section 4.0 A description of all property purchased by the municipality within the
Redevelopment Project Area including:
A. Street Address
B. Approximate size or description of property
C. Purchase Price
D. Seller of property
Refer to table attached.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
26
SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)]
FY 2015
TIF NAME: TIF No. 3 Wille Road
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:
27
Section 5.0 Review of Public and Private Investment.
Refer to table attached.
CITY OF DES PLAINES TIF DISTRICT #3 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31, 2015
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
FY 2015
TIF NAME: TIF No. 3 Wille Road
SECTION 5 PROVIDES PAGES 1-3 TO ACCOMMODATE UP TO 25 PROJECTS. PAGE 1 MUST BE INCLUDED WITH TIF
REPORT. PAGES 2-3 SHOULD BE INCLUDED ONLY IF PROJECTS ARE LISTED ON THESE PAGES
Check here if NO projects were undertaken by the Municipality Within the Redevelopment Project Area:
ENTER total number of projects undertaken by the Municipality
Within the Redevelopment Project Area
2
and list them in detail below*.
TOTAL:
11/1/99 to Date
Estimated Investment
for Subsequent Fiscal
Year
Total Estimated to
Complete Project
Private Investment Undertaken (See Instructions)
$ 34,211,095
$ 10,500,000
$ 44,500,000
Public Investment Undertaken
$ 6,099,307
$ 869,824
$ 16,000,000
Ratio of Private/Public Investment
5 14/23
2 25/32
Project 1: *IF PROJECTS ARE LISTED NUMBER MUST BE ENTERED ABOVE
Phase 1 Wille Road LLC
Private Investment Undertaken (See Instructions)
$ 20,000,000
$ 2,500,000
$ 22,500,000
Public Investment Undertaken
$ 4,595,429
$ 350,000
$ 8,000,000
Ratio of Private/Public Investment
4 25/71
2 13/16
Project 2:
Phase 2 Wille Road
Private Investment Undertaken (See Instructions)
$ 14,211,095
$ 8,000,000
$ 22,000,000
Public Investment Undertaken
$ 1,503,878
$ 519,824
$ 8,000,000
Ratio of Private/Public Investment
9 9/20
2 3/4
Project 3:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment
0
0
Project 4:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment
0
0
Project 5:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment
0
0
Project 6:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment
0
0
29
Optional: Information in the following sections is not required by law, but would be helpful in evaluating the performance
of TIF in Illinois. *even though optional MUST be included as part of complete TIF report
SECTION 6
FY 2015
TIF NAME: TIF No. 3 WiIle Road
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
designated
Base EAV
Reporting Fiscal Year
EAV
2000
$ 3,807,465
$ 9,558,608
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.
Overlapping Taxing District
Surplus Distributed from redevelopment
project area to overlapping districts
Description and Type
(Temporary or
Permanent) of Jobs
$ -
$ -
$ -
$ -
$ -
$ -
$
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$
SECTION 7
Provide information about job creation and retention
Number of Jobs
Retained
Number of Jobs
Created
Description and Type
(Temporary or
Permanent) of Jobs
Total Salaries Paid
$ -
$
$ -
$ -
$ -
$ -
$ -
SECTION 8
Provide a general description of the redevelopment project area using only major boundaries:
Optional Documents
Enclosed
Legal description of redevelopment project area
Map of District
30
EXHIBIT A
DES PLAINES
ILLINOIS
CITY OF DES PLAINES
TAX INCREMENT FINANCING DISTRICT
ANNUAL JOINT REVIEW BOARD MEETING MINUTES
SEPTEMBER 9, 2015
I. Welcome by City Representative
George Sakas introduced himself & welcomed everyone to today's meeting.
II. Call to Order
George Sakas opened the meeting at 9:57 a.m. at City Hall, 1420 Miner Street, Room
101, Des Plaines, IL
III. Roll Call (in attendance)
Michael Bartholomew
Mary Kalou
Susan Krey
Karen Stephens
Nelson Gray
Cathy Johnson
George Giese
Katie Skibbe
Barry Collins
Also Attended:
George Sakas
Rana Bromber
Lauren Pruss
Lauren Griffin
Bob Rychlicki
Gale Cerabona
Wayne Serbin
City Manager, City of Des Plaines
Assistant Superintendent, School District 207
Assessor, Maine Township
Director of Parks & Recreation, Rosemont Park District
Assistant Superintendent, School District 62
Associate Superintendent, School District 214
Manager of Administration, Mt. Prospect Park District
Superintendent of Business, Des Plaines Park District
Public Member
Director of Community & Econ. Dev., City of Des Plaines
Assistant Director of Finance, City of Des Plaines
Economic Development Coordinator, City of Des Plaines
Administrative Assistant, City of Des Plaines
Kane McKenna & Associates, Inc. / TIF Consultant
Recording Secretary
Resident of Des Plaines
IV. Election/Confirmation of Public Member
A motion was made by Michael Bartholomew, seconded by Cathy Johnson, to elect
and confirm Barry Collins as Public Member for the meeting.
On a voice vote:
AYES: All
NAYS: None
Motion: CARRIES
V. Election/Confirmation of Chair
A motion was made by Mary Kalou, seconded by Barry Collins, to elect and confirm
Director, George Sakas, as Chair for the meeting.
On a voice vote:
AYES: All
NAYS: None
Motion: CARRIES
VI. Approval of Minutes of the previous Joint Review Board Meeting
A motion was made by Barry Collins, seconded by Nelson Gray, to approve the
November 5, 2014 minutes and waive the reading thereof.
On a voice vote:
AYES: All
NAYS: None
Motion: CARRIES
VII. Review of Activities in District &
VIII. Review of 2013 State Comptroller's Report
George Sakas stated he wishes to rearrange the agenda and begin with TIF District
No. 3. There were no objections. He then introduced Bob Rychlicki.
TIF District No. 3 Overview
Bob Rychlicki reminded everyone that the format, sections, and pages are derived
from the State of Illinois Comptroller's Office.
He noted the following sections and exhibit:
• Certifications (Section 1)
• Mayor's compliance (Section 2.B)
• City Attorney notes the City has complied (Section 2.7)
• Exhibit C (or D) references the City's audit
It was noted TIF 3 is status quo and industrial in nature. There were no new
redevelopments, amendments. The City's audit was noted.
Fiscal activity actualized a tax revenue of $551,000 with $34 of investment income,
and issuance of debt in excess of $2,700,000. Outstanding obligations/future pledges
(noted on page 25) of remaining bonds are in excess of $18,000,000. Equalized
Assessed Value/EAV was noted (page 30); a 35 -year TIF assessed valuation is just
over $9 million.
George Sakas asked if there are any questions.
Barry Collins asked if bond obligations will be met. Bob Rychlicki stated the
continued occupancy of the building is what's important; debt service to increases.
He noted the plan is to match debt -service flow. Barry Collins surmised that the
current guestimate will be close.
George Sakas stated it is not to extend the 6Bs. He asked and Bob Rychlicki
confirmed the expiration date is 2035 with final payment in 2036.
At 10:11 a.m., Cathy Johnson departed.
TIF District No. 1 Overview
Bob Rychlicki noted certifications are the same as TIF District No. 3. The expiration
date is 2021 with final payment in 2022.
Bob Rychlicki stated there were no new redevelopments/amendments, no property or
purchase, no refunding or issuing of new debt.
Bob Rychlicki stated (on page 19) the property tax increment received is just over
$4,779,000 with $564 in interest. Utilization, debt service, and payments were noted.
Outstanding debt (noted on page 26) continues to be paid down. EAV (on page 31) is
identified at over $20,262,000 with a fiscal year reporting at $65,114,297.
George Sakas asked and Bob Rychlicki confirmed that the expiration date is 2021.
George Sakas asked if there are any questions.
Mary Kalou asked to expound on Section 3.2 #1 (noted on page 24). Bob Rychlicki
explained, for the transfer, it was paid back to the City or General Fund. He stated he
would provide the exact breakdown to Mary Kalou.
Nelson Gray asked for an explanation of transfers in the future; Bob Rychlicki
concurred.
Barry Collins asked if downtown construction is complete. Michael Bartholomew
advised there are 6-7 phases however the next phase will not be completed this year.
TIF District No. 4 Overview
Bob Rychlicki stated there is a 2019 expiration date. Certifications, etc. are the same
as previous TIFs, and there is nothing new to report. He stated there were public
improvements, and initially there were discussions with developers however large
scale development has not occurred.
Bob Rychlicki referred to (page 18) the TIF being underwater with no receipts. He
stated he will follow up to see if there is anything from TIF #1 contained. Mary Kalou
advised it is not contiguous.
Bob Rychlicki advised the EAV (on page 30) was almost at $42 million however it
decreased for various reasons. He noted the City did the right thing in terminating the
TIF (at the last meeting).
TIF District No.5 Overview
Bob Rychlicki advised the expiration date is 2024 with final payment in 2025. He
noted this is the smallest TIF; an expansion to the Metro Square project.
Bob Rychlicki stated there are no new redevelopments, etc. He referred to (page 18) a
property tax increment of $120,982 with $1 interest totaling $120,983. Also (on page
25) utilizations, debt service, outstanding bonds & interest were noted.
EAV (page 30) is over the base of $794,000 with final reporting at over $1,900,000.
George Salsas asked if there are any questions.
Barry Collins stated the City's need has been met with grocery stores; Bob Rychlicki
concurred and noted medical offices in Metro Square.
TIF District No. 6 Overview
Bob Rychlicki advised certifications are the same; redevelopment was addressed. He
noted the TIF was amended (cut in half; North & South); maps are included. This TIF
(like TIF #3) has a lot of debt.
Bob Rychlicki noted (page 18) due to the downtown proposal, this didn't come to
fruition. There was a property tax increment of $9,550 and $149 of interest totaling
just over $2,000,000 of bond proceeds. Long-term debt was identified (on page 25).
Bob Rychlicki advised EAV will be adjusted; going down significantly; recalibrating
the base on the South end. The base EAV will be reduced from $6,802,000 to
$2,648,000. He stated, hopefully, this TIF will be a better performer.
TIF District No. 7 Overview
Bob Rychlicki advised there was a surplus for all districts. He noted the base EAV at
$468,319 with recalculation in $1,000 increments.
Michael Bartholomew noted the driving factor was the property the City owned
(EAV was high); no chance to build. He advised now that the EAV is low, this will
create increment. City Staff is in now in the process and have narrowed developers;
hope to have a development agreement by year-end. George Sakas stated this could
offer a surplus.
George Sakas stated the economy is improving, the toll way expansion is ending, and
proposals are plentiful.
Nelson Gray asked regarding the Jane Addams expansion, if there was compensation
or right-of-way from IDOT. George Sakas replied — not for the City's property.
Mary Kalou referred to page 25, and stated there is a deficit with no expenditures.
Bob Rychlicki commented it is an estimate. Mary Kalou referenced Section 3.1. Bob
Rychlicki advised that this picks up a future expenditure and is a running total. It was
noted there could be a public improvement number. Bob Rychlicki stated this
identifies the City's obligations. Mary Kalou noted the debt services doesn't tie in.
Bob Rychlicki concurred (stating it's the State's interpretation).
IX. Questions from Board, Audience Members
There were none.
George Sakas advised that the next meeting will be held in September, 2016.
X. Adjournment
A motion was made by Barry Collins, seconded by Mary Kalou, to adjourn the
meeting at 10:39 a.m.
On a voice vote:
AYES: All
NAYS: None
Motion: CARRIES
Respectfully submitted,
Gale Cerabona
Recording Secretary
EXHIBIT B
CITY OF DES PLAINES, ILLINOIS
BALANCE SHEET
GOVERNMENTAL FUNDS
December 31, 2015
ASSETS
Cash and Investments
Receivables (net)
Property Tax Receivable
Other Taxes
Accounts Receivable
Accrued Interest
Other
Due from Other Governments
Advances to Other Funds
TOTAL ASSETS
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts Payable
Accrued Payroll
Accrued Liabilities
Deposits Payable
Advances from Other Funds
Unearned Revenue
Total Liabilities
Deferred Inflows of Resources
Deferred Property Tax Revenue
Unavailable Other Revenue
Total Deferred Inflows of Resources
Fund Balances
Nonspendable
Long-term Interfund Advances
Restricted
Economic Development
Debt Retirement/Infrastructure
Streets & Highways
Public Safety
Debt Service
Assigned
Infrastructure
Capital Acquisitions
General Fund Deficit
Emergency Telephone System Transfer
of Surcharge
Unassigned
Total Fund Balances
Major Governmental Funds
General
TIF#6
(Mannheim/
Higgins)
Nonmajor Total
Grant Funded Capital Governmental Governmental
Gaming Tax Projects Projects Funds Funds
$ 25,129,459 $ $ 33,704,365 $ 4,097,685 $ 4,783,342 $ 14,688,010 $ 82,402,861
22,802,608 52,282 33,524 5,624,253 28,512,667
1,158,799 126,055 1,284,854
997,226 - 379,635 76,796 1,453,657
267,717 2,981 - 32,313 303,011
221,825 - - 32 18,422 240,279
5,806,373 2,610,157 2,137,656 1,114,749 164,571 11,833,506
15,702,116 - - - - 15,702,116
$ 72,086,123 $ 52,282 $ 36,317,503 $ 6,235 341 $ 6,437,337 $ 20,604,365 $ 141,732,951
$ 1,583,040 $
1,627,115
132,265
168,026
$ 15,861,956 $ 1,865,939 $ 1,287,516 $ 1,017,750 $ 21,616,201
- - 23,968 - 1,651,083
- 132,265
5,839 131,460 137,299
9,179,285 - - 3,419,982 12,599,267
- - 168,026
3,510,446 9,179,285 15,861,956 1,865,939 1,317,323 4,569,192 36,304,141
22, 747,101
1,681,124
24,428,225
15,702,116
3,149,300
1,250,000
1,705,551
351,000
21,989,485
44,147,452
52,282
52,282
20,455, 547
5,467,021
5,467,021
32,995 5,549,453 28,381,831
49,254 7,197,399
32,995 5,598,707 35,579,230
5,087,019
15,702,116
4,895,473 4,895,473
20,455,547
364,274 364,274
1,582,538 1,582,538
456,984 456,984
8,236,319
6,583,637 7,833,637
1,705,551
- - 351,000
(9,179,285) (1,097,619) (3,446,440) 8,266,141
(9,179,285) 20,455,547 (1,097,619) 5,087,019 10,436,466 69,849,580
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES $ 72,086,123 $ 52,282 $ 36,317,503 $ 6,235,341 $ 6,437,337 $ 20,604,365 $ 141,732,951
See accompanying notes to financial statements. 21.
CITY OF DES PLAINES, ILLINOIS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
Year Ended December 31, 2015
Major Governmental Funds
TIF 116 Nonmajor Total
(Mannheim/ Grant Funded Capital Governmental Governmental
General Higgins) Gaming Tax Projects Projects Funds Funds
Revenues
Property Taxes $ 22,952,517 $ 52,109 $ - $ $ 33,798 $ 5,569,665 $ 28,608,089
Other Taxes 12,097,995 - 24,654,889 5,823,739 123,896 42,700,519
Licenses and Permits 2,921,119 - 2,921,119
Intergovernmental 19,780,209 - 8,835,076 1,845,399 30,460,684
Public Charges for Services 5,030,129 - 1,317,109 765,125 7,112,363
Fines, Forfeitures and Penalties 1,277,659 - - 121,451 1,399,110
Investment lncome 84,615 - 40,161 3,129 3,712 58,032 189,649
Miscellaneous 290,638 - - 80,684 237,461 608,783
Total Revenues 64,434,881 52,109 24,695,050 8,838,205 7,259,042 8,721,029 114,000,316
Expenditures
Current
General Government 7,810,936 15,862,826 78,609 120,427 23,872,798
Public Safety 39,145,089 - - - 2,944,867 42,089,956
Public Works 7,037,522 1,441,112 - 8,478,634
Streets and Highways 4,387,902 - 8,811,134 1,178,179 14,377,215
Economic Development 304,357 1,165 - 1,272,203 1,775,891 3,353,616
Debt Service
Principal 990,000 - 1,600,000 1,869,385 4,459,385
Interest and Fiscal Charges 159,259 180,332 528,353 867,944
Capital Outlay - 5,888,048 3,114,648 9,002,696
Total Expenditures 58,685,806 1,150,424 15,862,826 10,161,946 9,109,492 11,531,750 106,502,244
Excess (Deficiency) of Revenues
over (under) Expenditures 5,749,075 (1,098,315) 8,832,224 (1,323,741) (1,850,450) (2,810,721) 7,498,072
Other Financing Sources (Uses)
Transfer In 203,335 297,693 4,300,000 3,698,392 8,499,420
Transfer Out (3,887,363) (9,808,628) - (912,882) (169,777) (14,778,650)
Total Other Financing Sources (Uses) (3,684,028) (9,808,628) 297,693 3,387,118 3,528,615 (6,279,230)
Net Change in Fund Balances 2,065,047 (1,098,315) (976,404) (1,026,048) 1,536,668 717,894 1,218,842
Fund Balances at Beginning of Year 42,082,405 (8,080,970) 21,431,951 (71,571) 3,550,351 9,718,572 68,630,738
Fund Balances at End of Year $ 44,147,452 $ (9,179,285) $ 20,455,547 $ (1,097,619) $ 5,087,019 $ 10,436,466 $ 69,849,580
See accompanying notes to financial statements. 23.
CITY OF DES PLAINES, ILLINOIS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
December 31, 2015
ASSETS
Cash and Investments
Receivables (Net)
Property Taxes
Accounts Receivable
Accrued Interest
Other
Due from Other Governments
TOTAL ASSETS
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts Payable
Accrued Liabilities
Deposits Payable
Advances from Other Funds
Total Liabilities
Deferred Inflows of Resources
Deferred Property Tax Revenue
Unavailable Other Revenue
Total Deferred Inflows of Resources
Special Revenue Funds
Community
Motor Fuel Development Asset Foreign Fire TIF #1
Tax Block Grant Seizure Insurance Tax (Downtown)
$ 640,601 $ 102,810 $ 1,136,009 $ 602,292 $ 4,800,132
18,422
131,721 32,850
$ 772,322 $ 102,810 $ 1,187,281
4,796,677
$ 602,292 $ 9,596,809
$ 408,049 $ 19,804 $ 94,312 $ $ 179,942
112,723 18,737
408,049 19,804 207,035 198,679
4,722,305
4,722,305
Fund Balances
Restricted
Economic Development - 83,006 4,675,825
Streets & Highways 364,273 - - -
Public Safety - 980,246 602,292
Debt Service -
Assigned
Capital Acquisitions
Unassigned
Total Fund Balances 364,273 83,006 980,246 602,292 4,675,825
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES $ 772,322 $ 102,810 $ 1,187,281 $ 602,292 $ 9,596,809
105.
Special Revenue Funds
Debt Service
Fund
Capital Projects Funds
Total
TIF #7 Emergency Nonmajor
TIF #3 TIF #5 (Mannheim/ Telephone Debt Equipment I.T. Governmental
(WiIle Road) (Perry/Lee) Higgins) System Service Replacement Replacement Funds
$ $ 136,642 $ - $ $ 456,556 $ 6,193,381 $ 619,587 $ 14,688,010
569,249 151,692 990 105,645 5,624,253
- - 76,796 - - 76,796
32,313 32,313
- 18,422
164,571
$ 569,249 $ 288,334 $ 990 $ 76,796 $ 562,201 $ 6,225,694 $ 619,587 $ 20,604,365
$ $ $ 42,199 $ 11,800 $ $ 210,304 $ 51,340 $ 1,017,750
131,460
3,274,489 129,752 15,741 - 3,419,982
3,274,489 171,951 27,541 - 210,304 51,340 4,569,192
569,249 151,692 990 105,217 5,549,453
49,254 - 49,254
569,249 151,692 990 49,254 105,217 5,598,707
(3,274,489)
(3,274,489)
136,642 4,895,473
1 364,274
1,582,538
456,984 456,984
6,015,390 568,247 6,583,637
(171,951) - - (3,446,440)
136,642 (171,951) 1 456,984 6,015,390 568,247 10,436,466
$ 569,249 $ 288,334 $ 990 $ 76,796 $ 562,201 $ 6,225,694 $ 619,587 $ 20,604,365
106.
CITY OF DES PLAINES, ILLINOIS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
Year Ended December 31, 2015
Special Revenue Funds
Community
Motor Fuel Development Asset Foreign Fire TIF #1
Tax Block Grant Seizure Insurance Tax (Downtown)
Revenues
Taxes $ - $ - $ - $ 123,896 $ 4,758,567
Intergovernmental 1,426,848 347,763 70,788 - -
Public Charges for Services - -
Fines, Forfeitures and Penalties - 121,451 - -
Investment Income 251 1,834 3,547 913
Miscellaneous 20,264 3,685 14,335
Total Revenues 1,427,099 347,763 214,337 131,128 4,773,815
Expenditures
Current:
General Government -
Public Safety - 351,208 130,143
Streets and Highways 1,178,179 - - -
Economic Development - 135,668 1,503,979
Debt Service
Principal 1,318,885
Interest and Fiscal Charges - - 188,829
Capital Outlay 439,642 236,872 299,206 1,011,613
Total Expenditures 1,617,821 372,540 650,414 130,143 4,023,306
Excess (Deficiency) of Revenues
over (under) Expenditures
(190,722) (24,777) (436,077) 985 750,509
Other Financing Sources (Uses)
Transfers In
Transfers Out (7,200) (118,988)
Total Other Financing Sources (Uses) (7,200) (118,988)
Net Change in Fund Balances (190,722) (24,777) (436,077) (6,215) 631,521
Fund Balances at Beginning of Year 554,995 107,783 1,416,323 608,507 4,044,304
Fund Balances at End of Year $ 364,273 $ 83,006 $ 980,246 $ 602,292 $ 4,675,825
107.
Special Revenue Funds
Debt Service
Fund
Capital Projects Funds
Total
TIF #7 Emergency Nonmajor
TIF #3 TIF #5 (Mannheim/ Telephone Debt Equipment I.T. Governmental
(WiIle Road) (Perry/Lee) Higgins) System Service Replacement Replacement Funds
$ 547,683 $ 153,224 $ 904 $ $ 109,287 $ $ - $ 5,693,561
- - 1,845,399
765,125 765,125
- - 121,451
9 2 51,442 34 58,032
199,177 237,461
547,692 153,226 904 765,125 109,287 250,619 34 8,721,029
835 783 134,626
358,000 95,000
298,713 16,031
- 58,907 61,520 120,427
2,463,516 - 2,944,867
- - 1,178,179
1,775,891
85,000 12,500
24,780
792,761 334,554
1,869,385
528,353
3,114,648
657,548 111,814 134,626 2,463,516 109,780 864,168 396,074 11,531,750
(109,856) 41,412 (133,722) (1,698,391) (493) (613,549) (396,040) (2,810,721)
1,698,392 1,500,000 500,000 3,698,392
(5,360) (38,229) - - - (169,777)
(5,360) (38,229) 1,698,392 1,500,000 500,000 3,528,615
(115,216) 41,412 (171,951) 1 (493) 886,451 103,960 717,894
(3,159,273)
$ (3,274,489)
95,230
136,642
457,477 5,128,939
$ (171,951) $ 1 $ 456,984 $ 6,015,390
464,287 9,718,572
$ 568,247 $ 10,436,466
108.
CITY OF DES PLAINES, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
TIF #1 (DOWNTOWN) FUND
Year Ended December 31, 2015
With Comparative Actual Amounts for the Year Ended December 31, 2014
Revenues
Property Taxes
Investment Income
Miscellaneous
Total Revenues
Expenditures
Economic Development
Salaries
Benefits
Contractual Services
Commodities
Capital Outlay
Total Economic Development
Debt Service
Principal
Interest and Fiscal Charges
Total Debt Service
Total Expenditures
Excess (Deficiency) of Revenues
over (under) Expenditures
Other Financing Sources (Uses)
Transfer Out
Payment to Refunding Bond Escrow
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund Balance at End of Year
2015
Original and
Final Budget Actual
$ 4,351,233
600
4,351,833
6,300
481
1,036,801
256,650
3,015,000
4,315,232
1,725,484
188,893
1,914,377
6,229,609
(1,877,776)
(118,988)
(118,988)
$ (1,996,764)
$ 4,758,567
913
14,335
4,773,815
1,022,256
481,723
1,011,613
Variance from
Final Budget
Positive
(Negative)
$ 407,334
313
14,335
421,982
2014
Actual
$ 4,779,373
564
4,779,937
6,300 2,530
481 532
14,545 906,134
(225,073) 477,289
2,003,387 909,643
2,515,592 1,799,640 2,296,128
1,318,885 406,599 1,289,798
188,829 64 216,704
1,507,714 406,663 1,506,502
4,023,306 2,206,303 3,802,630
750,509 2,628,285
(118, 988)
(118, 988)
631,521 $ 2,628,285
4,044,304
977,307
(205, 210)
(3,048,390)
(3,253,600)
(2,276,293)
6,320,597
$ 4,675,825 $ 4,044,304
CITY OF DES PLAINES, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
TIF #3 (WILLE ROAD) FUND
Year Ended December 31, 2015
With Comparative Actual Amounts for the Year Ended December 31, 2014
Revenues
Taxes
Investment Income
Total Revenues
Expenditures
Economic Development
Contractual Services
Total Economic Development
Debt Service
Principal
Interest and Fiscal Charges
Total Debt Service
Total Expenditures
Excess (Deficiency) of Revenues
over (under) Expenditures
Other Financing Sources (Uses)
Transfers Out
Issuance of Debt
Payment to Refunding Bond Escrow
Premium on Bond Issuance
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund Balance at End of Year
2015
Original and
Final Budget
$ 550,070
10
550,080
Actual
$ 547,683
9
Variance from
Final Budget
Positive
(Negative)
2014
Actual
$ (2,387) $ 551,258
(1) 34
547,692 (2,388)
10,059 835
10,059 835
363,000 358,000
296,934 298,713
659,934 656,713
669,993 657,548
(119,913) (109,856)
(5,360) (5,360)
(5,360) (5,360)
(125,273) (115,216)
(3,159,27
$ (3,274,489)
9,224
9,224
5,000
(1,779)
3,221
12,445
10,057
551,292
512
512
324,000
386,439
710,439
710,951
(159,659)
(6,275)
2,720,000
(3,310,581)
77,035
(519,821)
10,057 (679,480)
(2,479,793)
$ (3,159,273)
112.
CITY OF DES PLAINES, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
TIF #4 (FIVE CORNERS) FUND
Year Ended December 31, 2015
With Comparative Actual Amounts for the Year Ended December 31, 2014
2015
Variance from
Final Budget
Original and Positive 2014
Final Budget Actual (Negative) Actual
Revenues
Taxes $ 24,797 $ $ (24,797) $ (51,251)
Total Revenues 24,797 - (24,797) (51,251)
Expenditures
Economic Development
Contractual Services 47,940 47,940 13,624
Commodities 5,000 5,000 1,740
Capital Outlay - - 592,700
Total Expenditures 52,940 52,940 608,064
Excess (Deficiency) of Revenues
over (under) Expenditures (28,143) 28,143 (659,315)
Other Financing Sources (Uses)
Transfers In 215,196
Transfers Out (41,318) 41,318 (40,487)
Total Other Financing Sources (Uses) (41,318) 41,318 174,709
Net Change in Fund Balance $ 69,461) $ 69,461 (484,606)
Fund Balance at Beginning of Year 484,606
Fund Balance at End of Year $ $
113.
CITY OF DES PLAINES, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
TIF #5 (PERRY/LEE) FUND
Year Ended December 31, 2015
With Comparative Actual Amounts for the Year Ended December 31, 2014
2015
Variance from
Final Budget
Original and Positive 2014
Final Budget Actual (Negative) Actual
Revenues
Taxes $ 120,982 $ 153,224 $ 32,242 $ 120,982
Investment Income 30 2 (28) 1
Total Revenues 121,012 153,226 32,214 120,983
Expenditures
Economic Development
Contractual Services 5 783 (778) 45
Total Economic Development 5 783 (778) 45
Debt Service
Principal 95,000 95,000 - 95,000
Interest and Fiscal Charges 16,037 16,031 6 17,937
Total Debt Service 111,037 111,031 6 112,937
Total Expenditures 111,042 111,814 (772) 112,982
Net Change in Fund Balance $ 9,970 41,412 $ 31,442 8,001
Fund Balance at Beginning of Year 95,230 87,229
Fund Balance at End of Year $ 136,642 $ 95,230
114.
CITY OF DES PLAINES, ILLINOIS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
TIF #7 (MANNHEIM/HIGGINS) FUND
Year Ended December 31, 2015
With Comparative Actual Amounts for the Year Ended December 31, 2014
Revenues
Taxes
Total Revenues
2015
Variance from
Final Budget
Original and Positive
Final Budget Actual (Negative)
2014
Actual
904 $ 904 $
904 904
Expenditures
Economic Development
Contractual Services 153,000 134,525 18,475
Commodities 101 (101)
Capital Outlay 2,000,000 - 2,000,000
Total Expenditures 2,153,000 134,626 2,018,374
Excess (Deficiency) of Revenues
over (under) Expenditures (2,153,000)
(133,722) 2,019,278
Other Financing Sources (Uses)
Transfers Out (38,229) (38,229)
Total Other Financing Sources (Uses) (38,229) (38,229)
Net Change in Fund Balance $ (2,191,229) (171,951) $ 2,019,278
Fund Balance at Beginning of Year
Fund Balance at End of Year $ (171,951)
115.
Crowe Horwath.
Crowe Horwath LLP
Independent Member Crowe Horwath International
INDEPENDENT ACCOUNTANT'S REPORT ON COMPLIANCE
To the Honorable Mayor
And Members of the City Council
City of Des Plaines, Illinois
Des Plaines, Illinois 60016
We have examined the City of Des Plaines, Illinois', (City's) compliance with the requirements of
subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act during the
year ended December 31, 2015. Management is responsible for the City's compliance with those
requirements. Our responsibility is to express an opinion on the City's compliance based on our
examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants and accordingly, included examining, on a test basis, evidence
about the City's compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances. We believe our examination provides a reasonable basis for
our opinion. Our examination does not provide a legal determination of the City's compliance with
specified requirements.
In our opinion, the City complied in all material respects, with the aforementioned requirements for the
year ended December 31, 2015.
ottre }-61 watit LLP
Crowe Horwath LLP
Oak Brook, Illinois
June 15, 2016
222.