Des Plaines TIF No. 1 ATR FY 2014CITY OF DES PLAINES
TAX INCREMENT FINANCING DISTRICT NO. 1
DOWNTOWN TIF DISTRICT
ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
City of Des Plaines
Tax Increment Financing District No. 1
Downtown 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 7
Attachment D Statement setting forth all activities undertaken in
furtherance of the objectives of the Redevelopment Plan 9
Attachment E Description of Agreements Regarding Property Disposition
or Redevelopment 10
Attachment F Additional Information on Uses of Funds Related to Achieving
Objectives of the Redevelopment Plan 11
Attachment G Information Regarding Contracts with TIF Consultants 12
Attachment H Reports Submitted by Joint Review Board 13
Attachment I Summary of any obligations issued by the municipality and
official statements 14
Attachment J Financial Analysis: TIF Obligations 15
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.
16
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
SECTION TITLE PAGE
Attachment M Intergovernmental Agreements 17
3.1 Analysis of Special Tax Allocation Fund 18
3.2 Itemized List of Expenditures from Special
Tax Allocation Fund 20
3.3 Special Tax Allocation Fund Balance (end of
reporting period) 25
4.0 Property purchased by the municipality within the
Redevelopment Project Area 27
5.0 Review of Public and Private Investment 29
6.0 Optional Sections 31
Exhibit A
Exhibit B
Joint Review Board Minutes
Audit and Compliance Letter
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
Section 1. Name of Redevelopment Project Area and Contact Information
Refer to chart attached.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
FY 2014
ANNUAL TAX INCREMENT FINANCE
REPORT
Name of Municipality; Des Plaines
County: Cook
Unit Code: 016/140/30
Reporting Fiscal Year:
Fiscal Year End:
2014
12/31/2014
First Name: Michael
TIF Administrator Contact Information
Address: 1420 Miner Street
Last Name: Bartholomew
Title: City Manager
Telephone: 847/391-5488 Clty: Des Plaines Zip:
E-mail mbartholomew@desplaines.org
Mobile Best way to x Email _x_Phone
Provider contact Mobile Mail
Mobile na
60016
na
I attest to the best of my knowledge, this report of the redevelopment project areas in: CityNiilage 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. spa. Or the Industrial Jobs Recovery Law 165 ILCS 5/11-74.6-10 et. sea.1
Date
Written signature of TIF Administator
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
statutory citations refer to one of two sections of the Illinois Municipal Code: the Tax Increment Allocation
Redevelopment Act [65 ILCS 5111-74.4-3 et. seq.] or the industrial Jobs Recovery Law [65 ILCS 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 2014
Name of Redevelopment Project Area: TIF 1 Downtown
Primary Use of Redevelopment Project Area*: CBD
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 equal or greater than $100,000 been made into the special tax allocation
fund? 65 ILCS 5/11-74.4-5 (d) (2) and 5/11-74.6-22 (d) (2)
If yes, please enclose Audited financial statements of the special tax allocation fund
labeled Attachment K
X
Cumulatively, have deposits of incremental revenue equal to or greater than $100,000 been made into
the special tax allocation fund? [65 ILCS 5/11-74.4-5 (d) (9) and 5/11-74.6-22 (d) (9)]
If yes, please enclose a certified letter statement reviewing compliance with the Act labeled
Attachment L
X
A list of all intergovernmental agreements in effect in FY 2010, to which the municipality is a part, and an
accounting of any money transferred or received by the municipality during that fiscal year pursuant to
those intergovernmental agreements. [65 ILCS 5/11-74.4-5 (d) (10)]
If yes, please enclose list only of the intergovernmental agreements labeled Attachment M
X
* Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed.
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#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
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.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
5
RE: Attorney Review City of Des Plaines Downtown TIF District #1
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, 2014
and ending December 31, 2014, to the best of my knowledge and belief.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
8
Attachment C Opinion of legal counsel that the municipality has complied with the Act.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
7
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 #1— Downtown.
For Fiscal Year Ending December 31, 2014
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 All, : tion Act during the fiscal year beginning January 1, 2014 and ending
December 31, 20
41
11 �r� — N d 0 1
MA OR fr/A/ c
CITY OF DES PLAINES TIFDISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
6
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 #1
The City of Des Plaines' (the "City's") first TIF District was established in July,
1985 and was originally known as the City's Ellinwood TIF Redevelopment Plan
and Project Area. The creation of this original approximately 24+ acre TIF
District was in response to downturns that were occurring in the mid 1980's
following several recessions and a marked decline in private investment and less
federal assistance available to address the City's capital needs. Several major
projects that had been initiated during the 1970's growth period were still
incomplete and the Plan was established to assist in attracting stronger anchors to
the downtown commercial district, address access, circulation and parking issues,
improve the character and amenities within the downtown. Several series of
General Obligation Bonds were issued on behalf of the project, and the City
proceeded to purchase several redevelopment parcels and undertake
redevelopment activities. The TIF District was amended again in 1992, 1994, and
1997, including legislative approval of a 12 year extension to the term of the TIF
district. The City also refunded a portion of some of the bond debt in the reporting
fiscal year.
Since the late 1990's, the City's Downtown TIF District #1 has redeveloped
pursuant to the objectives of the TIF Plan. In terms of overall ownership and
investment into the area, and through increased utilization of previously vacant
and/or blighted and obsolete parcels within the RPA, the TIF District has
encouraged the redevelopment of this central portion of the City.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
9
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 #1
Currently, the City has several outstanding financial obligations covering TIF #1 which
have been issued for public purposes or on behalf of private investors, all of which are payable
with the current TIF District's existing and future revenues.
The City has also issued two (2) TIF Revenue Notes on behalf of two (2) Downtown TIF
#1 projects, namely the River Mill TIF Revenue Note, Series 2002 for $408,000 @ 5.25%
(condominium development project) and the Lab Graceland TIF Revenue Note, Series 2003 for
$471,000 @ 5.25% (Walgreens development project), and the River Plaines "pay as you go
note" initially approved in 2007.
There were no new redevelopment agreements approved for this area in the reporting
fiscal year.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
10
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 #1 and TIF #5
Redevelopment Plan and Projects ( TIF #5 is contiguous to TIF #1) by assisting in "creating a
favorable business and residential environment while improving the physical condition of such
properties, while also allowing business properties to provide better service to the citizens of Des
Plaines". City officials and staff worked expeditiously to monitor the inflow and outflow of tax
receipts generated by the new and enhanced retail centers so as to continue in the "creation of a
strong and attractive central business district, symbolic of Des Plaines". Additionally, the City
has continued to designate funds to address parking, circulation, attraction of a grocery store,
mitigation of blight, preservation, increase in multi -family housing and safety objectives for the
area.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
11
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#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
12
Attachment H Reports Submitted by Joint Review Board.
No reports were submitted by the Joint Review Board. The Board met on November 5, 2014.
Minutes of the meeting are attached as Exhibit A.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
13
Attachment I Summary of any obligations issued by the municipality and official statements
No new obligations were issued by the City in the reporting Fiscal Year
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
14
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
below.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
15
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#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
16
Attachment M Intergovernmental Agreements
No payments were made in the reporting Fiscal Year.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
Section 3.1 Analysis of Special Tax Allocation Fund
Refer to table attached.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
18
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 2014
TIF NAME: No.1 Downtown
Fund Balance at Beginning of Reporting Period
$ 6,320,597
Revenue/Cash Receipts Deposited in Fund During Reporting FY:
Reporting Year
Cumulative*
% of Total
Property Tax Increment
$ 4,779,373
$ 70,091,268
60%
State Sales Tax Increment
0%
Local Sales Tax Increment
0%
State Utility Tax Increment
0%
Local Utility Tax Increment
0%
Interest
$ 564
$ 2,439,355
2%
Land/Building Sale Proceeds
$ 3,147,070
3%
Bond Proceeds
$ 39,966,245
34%
Transfers from Municipal Sources
$ 787,900
1%
Private Sources
$ 150,000
0%
Other (identify source ; if multiple other sources, attach
$ 218,869
0%
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 'Reporting Year' is
populated
$ 4,779,937
$ 116,800,707
100%
$
7,056,230
$ 7,056,230
$ (2,276,293)
$
4,044,304
* 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)
19
$ (5,775,040)
Section 3.2 Itemized List of Expenditures from Special Tax Allocation Fund
Refer to tables attached.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
FY 2014
TIF NAME: No.1 Downtown
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)]
Amounts
Reporting Fiscal Year
1. Costs of studies, administration and professional services—Subsections (q)(1) and (o) (1)
Administration, contractual services
703,534
Transfers - Admin. Costs
205,210
908,744
2. Cost of marketing sites—Subsections (q)(1.6) and (o)(1.6)
3. Property assembly, demolition, site preparation and environmental site improvement costs.
Subsection (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)
Commodities
682,951
Capital Outlay
909,643
1,592,594
6. Costs of removing contaminants required by environmental laws or rules (o)(6) - Industrial Jobs
Recovery TIFs ONLY
21
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. Subsection (q) (6) and (o)(8)
Debt Service
1,506,502
Payment to Bond Escrow
3,048,390
4,554,892
9. Approved 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. 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)
22
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
7,056,230
23
Section 3.2 B
FY 2014
TIF NAME: No.1 Downtown
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
1646 River Street LLC
TIF #1 Increment Taxes - River Plaines
407,428.45
All Cleaners Incorporated
Contractual Snow Removal
16,840.00
Christopher B Burke Engineering LTD
Phase 2- Design Engineering Phase 3 -
Design Engineering
229,940.50
ComEd
Maint. Public improvements
14,495.41
Duo -Gard Industries Inc
Miner St. Bus Shelter
17,567.00
Great Lakes Snow Systems Inc
Maint. Public improvements
30,862.50
J Gill & Company
Parking Deck Repairs
200,000.00
JB Metal Works Inc
Miner St Outdoor Dining Furniture
35,500.00
Lab Graceland Development
Contractual - redevelopment pmt.
43,243.99
Local Coffee Tea & Sweets LLC, The
Business Assistance Grant
18,897.25
Lorusso Cement Contractors Inc
Phase I - Construction Contractor
Phase 2 - Construction Contractor
846,188.02
Norwood Partnership LLC
TIF Incentive
40,879.04
Perfect Cleaning Service
Maint. Public improvements
14,999.94
Program One Professional Building Services Inc
Maint. Public improvements
12,640.00
Rosborough Partners Inc
Landscape Maintenance
69,214.68
Spaceco Inc
Phase I -Construction Engineering
Phase 2 - Construction Engineering
80,257.10
Tammen Group, The
Economic Development Consulting
Services
11,780.00
Tap House Grill
Business Assistance/Facade Rehab
80,000.00
Temple Display LTD
Public Improvements
16,647.00
Total Parking Solutions Inc
Public Improvements
19,077.60
Tuscany Construction Inc
Train Station Remodeling
129,780.96
Walker Parking Consultants
Parking Deck Repair -Design
29,849.35
Bond and Escrow Funds
Debt Service, Refunding
$ 4,554,892.00
24
Section 3.3 Special Tax Allocation Fund Balance (end of reporting period).
Refer to table attached.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
25
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 2014
TIF NAME: No.1 Downtown
FUND BALANCE, END OF REPORTING PERIOD
1. Description of Debt Obligations
$
4,044,304
Amount of Original
Issuance
Amount Designated
Bonds Series 2005 F
$ 4,725,000
Bonds Series 2007 B
$ 510,000
$ 137,410
Bonds Series 2008 A
$ 1,334,000
$ 369,247
Bonds Series 2011A
$ 1,555,000
$ 1,152,775
Bonds Series 2012 Refunding
$ 3,765,000
$ 3,018,174
Bonds Series 2013 Refunding
$ 2,990,000
$ 2,887,000
Total Amount Designated for Obligations
2. Description of Project Costs to be Paid
$
14,879,000
$
7,564,606
River Mill obligation - $462,389
$
245,274
LAB Graceland obligation - $471,000
$
259,464
Public improvements
$ 900,000
Project costs
$ 500,000
Property assembly
$ 350,000
Total Amount Designated for Project Costs
TOTAL AMOUNT DESIGNATED
SURPLUS*/(DEFICIT)
$
2,254,738
$
9,819,344
$
(5,775,040)
* NOTE: If a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing
26
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#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
27
SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)]
FY 2014
TIF NAME: No.1 Downtown
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:
28
Section 5.0 Review of Public and Private Investment.
Refer to table attached.
CITY OF DES PLAINES TIF DISTRICT#1 ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2014 AND ENDING DECEMBER 31, 2014
29
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 2014
TIF NAME: No.1 Downtown
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
4
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)
$ 106,813,152
$ -
$ 142,000,000
Public Investment Undertaken
$ 32,277,748
$ -
$ 33,927,748
Ratio of Private/Public Investment
4 5/27
Project 1: *IF PROJECTS ARE LISTED NUMBER MUST BE ENTERED ABOVE
Metropolitan Square
Private Investment Undertaken (See Instructions)
$ 45,140,627
$ 60,000,000
Public Investment Undertaken
$ 31,398,748
$ 31,398,748
Ratio of Private/Public Investment
1 7/16
1 41/45
Project 2:
River Mill
Private Investment Undertaken (See Instructions)
$ 29,460,295
$ 30,000,000
Public Investment Undertaken
$ 408,000
$ 408,000
Ratio of Private/Public Investment
72 19/92
73 9/17
Project 3:
LAB Graceland
Private Investment Undertaken (See Instructions)
$ 12,000,000
$ 12,000,000
Public Investment Undertaken
$ 471,000
$ 471,000
Ratio of Private/Public Investment
25 43/90
25 43/90
Project 4:
Everleigh Condos
Private Investment Undertaken (See Instructions)
$ 20,212,230
$ 40,000,000
Public Investment Undertaken
$ 1,650,000
Ratio of Private/Public Investment
0
24 8/33
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
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 2014
TIF NAME: No.1 Downtown
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
1985
$ 20,262,187
$ 65,114,297
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
Surplus payment
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
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
31
EXHIBIT A
I.
CITY OF DES PLAINES
TAX INCREMENT FINANCING DISTRICT
ANNUAL JOINT REVIEW BOARD MEETING MINUTES
NOVEWMBER 5, 2014
Welcome by City Representative
George Sakas introduced himself & welcomed everyone to today's meeting.
II. Call to Order
George Sakas opened the meeting at 10 a.m. at City Hall, 1420 Miner Street, Room
101, Des Plaines, IL
III. Roll Call (in attendance)
Michael Bartholomew
Mary Kalou
Walter Kazmierczak
Karen Stephens
Nelson Gray
Bill Dussling
Sherry Koerner
Ruth Gloede
George Giese
John Bellows
Don Miletic
Katie Skibbe
Barry Collins
Also Attended:
George Sakas
Dorothy Wisniewski
Linda Krania
Jon Duddles
Dick Sayad
Chan Yu
Lauren Griffin
Bob Rychlicki
Gale Cerabona
City of Des Plaines, City Manager
Assistant Superintendent, School District 207
Trustee, Maine Township
Rosemont Park District, Director of Parks & Recreation
Assistant Superintendent, School District 62
School Board President, School District 214
Director of Business Services, School District 214
Assistant Superintendent, School District 59
FOIA Officer, Mt. Prospect Park District
Human Resources, Mt. Prospect
Executive Director, Des Plaines Park District
Superintendent of Business, Des Plaines Park District
Public Member
Director of Community & Econ. Dev., City of Des Plaines
Director of Finance, City of Des Plaines
Director of Media, City of Des Plaines
Asst. Dir. of Publ. Works&Engineering, City of Des Plaines
Alderman / City Council, City of Des Plaines
Associate Planner, City of Des Plaines
Administrative Assistant, City of Des Plaines
Kane McKenna & Associates, Inc. / TIF Consultant
Recording Secretary
IV. Election/Confirmation of Public Member
A motion was made by Michael Bartholomew, seconded by Don Miletic, to elect &
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 Michael Bartholomew, 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 Previous Joint Review Board Meetings
George Sakas advised today's agenda includes the TIF 6&7 minutes (2013 & 2014).
A motion was made by Nelson Gray, seconded by Barry Collins, to approve the
August 27, 2013, minutes with correction of typo on page 3, under TIF District No. 1,
3d paragraph, to be spelled as "main".
On a voice vote:
AYES: All
NAYS: None
Motion: CARRIES
A motion was made by Mary Kalou, seconded by Michael Bartholomew, to approve
the August 20, 2014, minutes for TIF District Nos. 6 & 7.
On a voice vote:
AYES: All
NAYS: None
ABSTAIN: Dussling
Motion: CARRIES
VII. Review of Activities in District
George Sakas stated he wishes to rearrange the agenda to begin with TIF District No.
3. There were no objections.
TIF District No. 3 Overview
Bob Rychlicki stated the format is the same regarding content (State Comptroller's
Office provides report to City of Des Plaines).
Certifications were noted (Section 1). Certifications were identified from the Mayor
(page 7) & the City Attorney (page 9). Exhibit C (or D) was referenced along with the
City's audit; dollars are spent in compliance.
Activities were noted (Section 2). There were no amendments. Debt, refunding issue
were noted.
In the last component of the report (page 18), the City identified fiscal activity.
$489,000 TIF revenue was received, bonds are at $579,937 for an approximate total
of $1,069.000. 95% is utilized for debt services. Revenues were noted.
Equalized Assessed Value/EAV is noted (page 30); a 35 -year TIF assessed valuation
is just over $10 million.
Ruth Gloede stated/asked:
• in 2011, it was 12.4, in 2012 it was 11.1, and in 2014 it's 10.0 which is not
unusual; Bob Rychlicki concurred.
• asked if there are new incentives for industrial properties. Michael
Bartholomew stated — not at this time; 2 incentives are already in place.
• asked about the following, & Dorothy Wisniewski responded:
Bond Type AA2
Interest Rate 5.85% originally, now 2.25%
Bill Dussling asked:
• if redevelopment of the TIF is complete. Bob Rychlicki responded — yes
• if the original TIF was for 14 years, and it's now 35 years. Bob Rychlicki
advised — yes
• if this TIF is contiguous with others. Bob Rychlicki responded — no
George Sakas asked if there were any questions; there were none.
TIF District No. 1 Overview
Bob Rychlicki noted certifications are the same. From 1/31/2013-12/31/2013, there
were no amendments, no redevelopments, & no bond issues. TIF District No. 3 was
included. The City took on various projects (pages 18-19).
This is the City's oldest & largest TIF (land mass & tax parcels) -- $4,797.68.
Amounts for utilization were contractual. Public improvements, new construction
total $6,796,374.
The City's obligations were noted (page 26); outstanding bonds & new projects (page
41). Base EAV is over $20 million; last tax year was over $75 million.
Mary Kalou asked what we billed. Michael Bartholomew advised — it goes from
building storefront to sidewalks to water main work.
Barry Collins asked if this streetscape project will continue in 2014. Jon Duddles
replied -- this is in 7 phases.
Nelson Gray asked if the TIF will end early. Michael Bartholomew responded — this
has not been discussed.
Don Miletic asked if more properties will be purchased. Michael Bartholomew stated
— nothing is on the table.
TIF District No. 4 Overview
Bob Rychlicki stated there was no activity, amendments, refunding, redevelopments,
or acquisitions. This TIF impacts the downturn (page 18); very minimal earnings of
$1,900 + $1 interest. Dollars were based on last year's installment. There is a positive
fund balance.
Base EAV (page 30) was $42 million. Now EAV is below that. No increment is noted
for next year.
George Sakas referred to the October notice indicating the dissolving of the TIF.
Barry Collins asked if there's been any qualifying interest in development. Michael
Bartholomew stated — yes, there was interest early on but no commitment. Bob
Rychlicki noted that financing & interest has dried up.
TIF District No.5 Overview
Bob Rychlicki noted this is the City's smallest district. Has the same series of
certifications. Status quo on the plan. No property acquired.
There has been a downturn (page 18) -- $94,000 last year. City's obligations, bonds
were noted (page 25).
EAV (page 30) is over the base — in excess of $3 million. Property is still occupied;
does cover debt service.
George Sakas asked if there were any questions; there were none.
TIF District No. 6 Overview
George Sakas noted this is a 2013 report.
Bob Rychlicki noted the City amended TIF District No. 6 & added TIF District No. 7
(based on financial downward trend). Same series of certifications. No activities,
redevelopment agreements.
Lack of development (page 18); over $7,000 received. Fiscal activity was noted with
debt service payments. The districts & review prompted the changing of boundaries
& development.
Amendments were noted (page 30).
George Sakas asked if there were any questions.
Nelson Gray asked about the interest rate & Dorothy Wisniewski responded — 2.3%.
VIII. Review of 2013 State Comptroller's Report
There was none.
IX. Questions from Board, Audience Members
There were none.
George Sakas requested the next meeting to be in August, 2015. These TIFs along
with TIF District Nos. 4 & 7 will be included.
X. Adjournment
A motion was made by Michael Bartholomew, seconded by Barry Collins, to adjourn
the meeting at 10:35 a.m.
On a voice vote:
AYES: All
NAYS: None
Motion: CARRIES
Respectfully submitted,
Gale Cerabona
Recording Secretary
EXHIBIT B
Crowe Horwath_
Crowe Horwath LLP
Independent Member Crowe Horwath International
INDEPENDENT ACCOUNTANTS 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, 2014. 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, 2014.
Crowe Horwath LLP
Oak Brook, Illinois
June 8, 2015
217.
CITY OF DES PLAINES, ILLINOIS
BALANCE SHEET
GOVERNMENTAL FUNDS
December31, 2014
Major Governmental Funds
TIF #6 Nonmajor Total
(Mannheim/ Capital Governmental Governmental
General Higgins) Gaming Tax Projects Funds Funds
ASSETS
Cash and Investments $ 23,982,499 $ $ 34,732,920 $ 3,259,857 $ 14,094,379 $ 76,069,655
Receivables (net)
Property Tax Receivable 22,789,813 18,461 - 33,874 5,213,021 28,055,169
Other Taxes 1,179,672 141,448 - 1,321,120
Accounts Receivable 1,174,419 620,646 - 1,795,065
Accrued Interest 265,331 4,541 1,531 271,403
Other 204,076 2,611,508 - 5,138 2,820,722
Due from Other Governments 6,267,850 1,147,255 1,382,804 8,797,909
Advances to Other Funds 13,885,051 - - 13,885,051
TOTAL ASSETS $ 69,748,711 $ 18,461 $ 37,348,969 $ 5,203,080 $ 20,696,873 $ 133,016,094
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts Payable $ 1,412,518 $ 1,956 $ 15,917,018 $ 1,602,341 $ 1,067,630 $ 20,001,463
Accrued Payroll 1,580,295 13,318 2,718 1,596,331
Accrued Liabilities 110,671 - 110,671
Deposits Payable 4,075 138,999 143,074
Advances from Other Funds - 8,081,489 - - 3,158,547 11,240,036
Unearned Revenue 229,379 - - - 229,379
Total Liabilities 3,332,863 8,083,445 15,917,018 1,619 734 4,367,894 33,320,954
Deferred Inflows of Resources
Deferred Property Tax Revenue 22,743,904 15,986 32,995 5,080,477 27,873,362
Unavailable Other Revenue 1,589,539 - - 1,601,501 3,191,040
Total Deferred Inflows of Resources 24,333,443 15,986 32,995 6,681,978 31,064,402
Fund Balances
Nonspendable
Long-term lnterfund Advances 13,885,051 13,885,051
Restricted
Economic Development - 4,247,317 4,247,317
Debt Retirement/Infrastructure 21,431,951 - 21,431,951
Streets & Highways - 554,995 554,995
Public Safety 2,024,830 2,024,830
Debt Service 457,477 457,477
Assigned
Infrastructure 5,950,000 3,550,351 9,500,351
Capital Acquisitions 2,300,000 - 5,593,226 7,893,226
Streets & Highways 200,000 200,000
Pension Funding 700,000 700,000
Unassigned 19,047,354 (8,080,970) (3,230,844) 7,735,540
Total Fund Balances 42,082,405 (8,080,970) 21,431,951 3,550,351 9,647,001 68,630,738
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES $ 69,748,711 $ 18,461 $ 37,348,969 $ 5,203,080 $ 20,696,873 $ 133,016,094
See accompanying notes to financial statements. 21.
CITY OF DES PLAINES, ILLINOIS
RECONCILIATION OF GOVERNMENTAL FUNDS BALANCE SHEET
TO THE STATEMENT OF NET POSITION
December 31, 2014
Total Fund Balances - Governmental Funds $ 68,630,738
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources and therefore
are not reported in the funds:
Capital Assets
Accumulated Depreciation
$ 305,059,302
(107,812,854)
Net Capital Assets 197,246,448
Some receivables that are not currently available are reported as deferred inflows of
resources in the fund financial statements but are recognized as revenue when earned
in the government -wide statements.
Gains/Losses related to the refunding of long-term debt are deferred and amortized
over the life of the debt issue in the statement of net position.
Generally, interest on long-term debt is not accrued in governmental funds, but rather is
recognized when due.
The net pension assets of the police and firefighters pension funds are included in the
governmental activities in the statement of net position.
Some liabilities reported in the statement of net position do not require the use of current
financial resources and therefore are not reported as liabilities in governmental funds.
These liabilities consist of:
Compensated Absences Payable (2,364,367)
General Obligation Bonds Payable (7,020,000)
TIF General Obligation Bonds Payable (33,658,625)
TIF Revenue Bonds Payable (423,590)
Unamortized Bond Premiums & Discounts (386,636)
Installment Notes Payable (187,500)
Other Post Employment Benefits (OPEB) (2,084,329)
Net Pension Obligation - IMRF (250,205)
Total Long-term Liabilities
3,191,040
541,551
(83, 013)
2,017,516
(46,375,252)
Internal service funds are reported in the Statement of Net Position as Governmental Activities. 5,003,107
Net Position of Governmental Activities $ 230,172,135
See accompanying notes to financial statements. 22.
CITY OF DES PLAINES, ILLINOIS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
Year Ended December 31, 2014
Major Governmental Funds
General
TIF #6
(Mannheim/
Higgins)
Gaming Tax
Nonmajor Total
Capital Governmental Governmental
Projects Funds Funds
Revenues
Property Taxes $ 22,900,148 $ 9,550 $ $ 32,151 $ 5,551,655 $ 28,493,504
Other Taxes 12,248,695 - 24,792,544 6,075,436 108,505 43,225,180
Licenses and Permits 3,331,833 - - 3,331,833
Intergovernmental 19,559,114 25,701 5,124,794 24,709,609
Public Charges for Services 5,065,526 2,221,419 7,286,945
Fines, Forfeitures and Penalties 1,306,106 - - 32,963 1,339,069
Investment Income 11,112 149 26,795 2,182 33,558 73,796
Miscellaneous 432,138 - - 85,215 3,757 521,110
Total Revenues 64,854,672 9,699 24,819,339 8,442,104 10,855,232 108,981,046
Expenditures
Current
General Government 7,531,642 15,917,018 283,036 23,731,696
Public Safety 38,649,791 - 189,337 38,839,128
Public Works 5,232,228 973,518 6,205,746
Streets and Highways 5,497,717 - - 1,475,748 6,973,465
Economic Development 642,461 48,418 1,547,972 2,238,851
Debt Service
Principal 955,000 5,395,000 1,801,298 8,151,298
Interest and Fiscal Charges 234,697 441,522 648,920 1,325,139
Capital Outlay - 8,469,063 6,749,514 15,218,577
Total Expenditures 57,553,839 1,238,115 15,917,018 15,279,103 12,695,825 102,683,900
Excess (Deficiency) of Revenues
over (under) Expenditures
7,300,833 (1,228,416)
8,902,321 (6,836,999) (1,840,593) 6,297,146
Other Financing Sources (Uses)
Transfer In 342,257 6,895,000 3,833,250 11,070,507
Transfer Out (9,201,298) (49,527) (1,745,000) (74,152) (251,972) (11,321,949)
Issuance of Debt 2,020,000 - 2,880,000 2,720,000 7,620,000
Payment to Refunding Bond Escrow (6,440,489) (2,924,139) (6,358,971) (15,723,599)
Premium on Bond Issuance 1,707 81,567 77,035 160,309
Total Other Financing Sources (Uses) (8,859,041) (4,468,309) (1,745,000) 6,858,276 19,342 (8,194,732)
Net Change in Fund Balances (1,558,208) (5,696,725) 7,157,321 21,277 (1,821,251) (1,897,586)
Fund Balances at Beginning of Year 43,640,613 (2,384,245) 14,274,630 3,529,074 11,468,252 70,528,324
Fund Balances at End of Year $ 42,082,405 $ (8,080,970) $ 21,431,951 $ 3,550,351 $ 9,647,001 $ 68,630,738
See accompanying notes to financial statements. 23.
NONMAJOR GOVERNMENTAL FUNDS
Special Revenue Funds are governmental funds used to account for the proceeds of specific revenue
sources that are legally restricted to expenditures for particular purposes.
• Motor Fuel Tax Fund — to account for the City's share of restricted state gasoline taxes. All
projects require the advance approval of the Illinois Department of Transportation.
• Community Development Block Grant Fund - to account for the disbursement of the restricted
Federal Community Block Grant. Financing is provided by the Federal Government.
• Asset Seizure Fund — to account for the restricted monies received from the federal, state, and
county related to the seizure of assets by the Des Plaines Police Department.
• Foreign Fire Insurance Tax Fund — to account for restricted monies received from the foreign fire
insurance tax, and disbursements by the Foreign Fire Insurance Tax Board.
• TIF Tax Allocation #1 Fund — to account for restricted revenues and expenditures related to the
tax increment finance district located downtown.
• TIF Tax Allocation #3 Fund — to account for restricted revenues and expenditures related to the
tax increment finance district located near Wille Road.
• TIF Tax Allocation #4 Fund — to account for restricted revenues and expenditures related to the
tax increment finance district located near Five Corners.
• TIF Tax Allocation #5 Fund — to account for restricted revenues and expenditures related to the
tax increment finance district located near Lee and Perry Streets in downtown Des Plaines.
• TIF Tax Allocation # 7 Fund — to account for restricted revenues and expenditures related to the
tax increment finance district located near Higgins Road and Pratt Avenue. There was no activity
or budget for this fund in 2014.
• Grant Funded Projects Fund — to account for restricted revenues and expenditures related to the
Public Safety, Capital and other miscellaneous grants.
Debt Service Funds are governmental funds used to account for the accumulation of resources and the
payment of general long-term debt principal, interest, and related costs.
• Debt Service Fund — to accumulate monies for payment of principal and interest on long-term
general obligation debt of governmental funds.
Capital Project Funds are used to account for the acquisition and construction of major capital facilities
other that those financed by proprietary funds and trust funds.
• Equipment Replacement Fund — to account for the acquisition of major capital equipment (rolling
stock).
• IT Replacement Fund — to account for the replacement of the City's computer and copier
equipment.
CITY OF DES PLAINES, ILLINOIS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
December 31, 2014
Special Revenue Funds
Community
Motor Fuel Development Asset Foreign Fire TIF #1
Tax Block Grant Seizure Insurance Tax (Downtown)
ASSETS
Cash and Investments $ 809,164 $ 111,194 $ 1,538,776 $ 608,507 $ 4,211,780
Receivables (Net)
Property Taxes 4,439,915
Accrued Interest 1,531
Other - - 5,138
Due from Other Governments 146,974 20,026 5,722
TOTAL ASSETS $ 956,138 $ 131,220 $ 1,551,167 $ 608,507 $ 8,651,695
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts Payable
Accrued Liabilities
Deposits Payable
Advances from Other Funds
Total Liabilities
$ 401,143 $ 20,444 $ 14,582 $ $ 280,933
2,718
120,262 18,737
401,143 23,162 134,844 299,670
Deferred Inflows of Resources
Deferred Property Tax Revenue 4,307,721
Unavailable Other Revenue 275 -
Total Deferred Inflows of Resources 275 4,307,721
Fund Balances
Restricted
Economic Development - 107,783 4,044,304
Streets & Highways 554,995 - -
Public Safety - 1,416,323 608,507
Debt Service - -
Assigned
Capital Acquisitions
Unassigned
Total Fund Balances 554,995 107,783 1,416,323 608,507 4,044,304
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES, AND FUND BALANCES $ 956,138 $ 131,220 $ 1,551,167 $ 608,507 $ 8,651,695
98.
Special Revenue Funds
Debt Service
Fund
Capital Projects Funds
Total
Nonmajor
TIF #3 TIF #4 TIF #5 Grant Funded Debt Equipment I.T. Governmental
(Wille Road) (Five Corners) (Perry/Lee) Projects Service Replacement Replacement Funds
$ $ $ 95,354 $ 547,263 $ 457,127 $ 5,157,049 $ 558,165 $ 14,094,379
544,569 119,772 108,765 5,213,021
- - - 1,531
5,138
1,210,082 1,382,804
$ 544,569 $ $ 215,126 $ 1,757,345 $ 565,892 $ 5,157,049 $ 558,165 $ 20,696,873
$ 726 $ $ 124 $ 227,690 $ - $ 28,110 $ 93,878 $ 1,067,630
- - - - 2,718
- 138,999
3,158,547 3,158,547
3,159,273 124 227,690 28,110 93,878 4,367,894
544,569 119,772 - 108,415 5,080,477
544,569
(3,159,273)
1,601,226 - 1,601,501
119,772 1,601,226 108,415 6,681,978
95,230
(3,159,273) 95,230
4,247,317
554,995
2,024,830
457,477 457,477
5,128,939 464,287 5,593,226
(71,571) - - (3,230,844)
(71,571) 457,477 5,128,939 464,287 9,647,001
$ 544,569 $ $ 215,126 $ 1,757,345 $ 565,892 $ 5,157,049 $ 558,165 $ 20,696,873
99.
CITY OF DES PLAINES, ILLINOIS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
Year Ended December 31, 2014
Special Revenue Funds
Community
Motor Fuel Development Asset Foreign Fire TIF #1
Tax Block Grant Seizure Insurance Tax (Downtown)
Revenues
Taxes $ - $ - $ - $ 108,505 $ 4,779,373
Intergovernmental 1,955,759 153,317 42,901
Fines, Forfeitures and Penalties - 32,963
Investment Income 89 2,700 3,372 564
Miscellaneous - 2,757 1,000
Total Revenues 1,955,848 153,317 81,321 112,877 4,779,937
Expenditures
Current:
General Government -
Public Safety - 107,172 82,165
Streets and Highways 1,475,748 - -
Economic Development - 145,566 1,386,485
Debt Service
Principal 1,289,798
Interest and Fiscal Charges - - - 216,704
Capital Outlay 367,115 1,667 84,770 909,643
Total Expenditures 1,842,863 147,233 191,942 82,165 3,802,630
Excess (Deficiency) of Revenues
over (under) Expenditures 112,985
Other Financing Sources (Uses)
Transfers In
Transfers Out
Issuance of Debt
Payment to Refunding Bond Escrow
Premium on Bond Issuance
Total Other Financing Sources (Uses)
6,084 (110,621)
30,712 977,307
(205,210)
(3,048,390)
(3,253,600)
Net Change in Fund Balances 112,985 6,084 (110,621) 30,712 (2,276,293)
Fund Balances at Beginning of Year 442,010 101,699 1,526,944 577,795 6,320,597
Fund Balances at End of Year $ 554,995 $ 107,783 $ 1,416,323 $ 608,507 $ 4,044,304
100.
Special Revenue Funds
Debt Service
Fund
Capital Projects Funds
Total
Nonmajor
TIF #3 TIF #4 TIF #5 Grant Funded Debt Equipment I.T. Governmental
(Wille Road) (Five Corners) (Perry/Lee) Projects Service Replacement Replacement Funds
$ 551,258 $ $ 120,982 $ - $ 100,042 $ $ $ 5,660,160
- 2,972,817 - 5,124,794
- - 32,963
34 1 17 26,769 12 33,558
3,757
551,292 120,983 2,972,834 100,042 26,769 12 10,855,232
512 15,364 45
324,000 95,000
386,439 - 17,937
643,951 -
710,951 659,315
(159,659) (659,315)
229,792 9,626
2,875,956
112,982 3,105,748
8,001 (132,914)
80,000 12,500
27,840
892,960
107,840 915,086
(7,798) (888,317)
215,196 - 49,152 2,532,800
(6,275) (40,487)
2,720,000 -
(3,310,581)
77,035
43,618 283,036
189,337
1,475,748
1,547,972
973,452
1,801,298
648,920
6,749,514
1,017,070 12,695,825
(1,017,058) (1,840,593)
1,036,102 3,833,250
(251,972)
2,720,000
(6,358,971)
77,035
(519,821) 174,709 49,152 - 2,532,800 1,036,102 19,342
(679,480) (484,606) 8,001 (83,762) (7,798) 1,644,483 19,044 (1,821,251)
(2,479,793) 484,606 87,229 12,191 465,275 3,484,456 445,243 11,468,252
$ (3,159,273) $ $ 95,230 $ (71,571) $ 457,477 $ 5,128,939 $ 464,287 $ 9,647,001
101.
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, 2014
With Comparative Actual Amounts for the Year Ended December 31, 2013
2014
Variance from
Final Budget
Original and Positive
Final Budget Actual (Negative)
2013
Actual
Revenues
Property Taxes $ 4,733,399 $ 4,779,373 $ 45,974 $ 4,797,868
Investment Income 600 564 (36) 1,071
Miscellaneous - - - 2,144
Total Revenues 4,733,999 4,779,937 45,938 4,801,083
Expenditures
Economic Development
Salaries 6,000 2,530 3,470 6,469
Benefits 809 532 277 992
Contractual Services 1,201,202 700,472 500,730 535,673
Commodities 451,650 682,951 (231,301) 550,477
Capital Outlay 2,550,000 909,643 1,640,357 3,014,901
Total Economic Development 4,209,661 2,296,128 1,913,533 4,108,512
Debt Service
Principal 1,459,797 1,289,798 169,999 1,930,865
Interest and Fiscal Charges 300,076 216,704 83,372 362,765
Total Debt Service 1,759,873 1,506,502 253,371 2,293,630
Total Expenditures 5,969,534 3,802,630 2,166,904 6,402,142
Excess (Deficiency) of Revenues
over (under) Expenditures
Other Financing Sources (Uses)
Transfer Out
Issuance of Debt
Payment to Refunding Bond Escrow
Premium on Bond Issuance
Total Other Financing Sources (Uses)
(1,235,535)
(205,210)
977,307 2,212,842
(205,210)
(3,048,390) (3,048,390)
(205,210) (3,253,600)
(1,601,059)
(394,232)
2,990,000
90,118
(3,048,390) 2,685,886
Net Change in Fund Balance $ (1,440,745) (2,276,293) $ (835,548) 1,084,827
Fund Balance at Beginning of Year 6,320,597 5,235,770
Fund Balance at End of Year $ 4,044,304 $ 6,320,597
104.
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, 2014
With Comparative Actual Amounts for the Year Ended December 31, 2013
Revenues
Taxes
Investment Income
Miscellaneous
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
2014
Original and
Final Budget Actual
$ 630,943
10
630,953
$ 551,258
34
Variance from
Final Budget
Positive
(Negative)
2013
Actual
$ (79,685) $
24
551,292 (79,661)
10,039 512 9,527
10,039 512 9,527
314,000 324,000 (10,000)
397,013 386,439 10,574
711,013 710,439 574
721,052 710,951 10,101
(90,099)
(6,275)
(159,659) (69,560)
(6,275)
2,720,000
(3,310,581)
77,035
2,720,000
(3,310,581)
77,035
(6,275) (519,821) (513,546)
$ (96,374) (679,480) $ (583,106)
(2,479,793)
$ (3,159,273)
489,100
30
405
489,535
6,683
6,683
165,000
409,744
574,744
581,427
(91,892)
(6,260)
565,000
14,532
573,272
481,380
(2,961,173)
$ (2,479,793)
105.
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, 2014
With Comparative Actual Amounts for the Year Ended December 31, 2013
Revenues
Taxes
Investment Income
Total Revenues
2014
Variance from
Final Budget
Original and Positive
Final Budget Actual (Negative)
2013
Actual
$ 24,797 $ $ (24,797) $ 1,901
1
24,797
(24,797) 1,902
Expenditures
Economic Development
Contractual Services 173,671 13,624 160,047 18,135
Commodities 5,000 1,740 3,260
Capital Outlay 200,000 643,951 (443,951) 45,482
Total Expenditures 378,671 659,315 (280,644) 63,617
Excess (Deficiency) of Revenues
over (under) Expenditures (353,874) (659,315) (305,441) (61,715)
Other Financing Sources (Uses)
Transfers In 215,196 215,196
Transfers Out (40,487) (40,487) - (45,380)
Total Other Financing Sources (Uses) (40,487) 174,709 215,196 (45,380)
Net Change in Fund Balance $ (394,361) (484,606) $ (90,245) (107,095)
Fund Balance at Beginning of Year 484,606 591,701
Fund Balance at End of Year $ $ 484,606
106.
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, 2014
With Comparative Actual Amounts for the Year Ended December 31, 2013
2014
Variance from
Final Budget
Original and Positive
Final Budget Actual (Negative)
2013
Actual
Revenues
Taxes $ 115,438 $ 120,982 $ 5,544 $ 94,586
Investment Income - 1 1 36
Total Revenues 115,438 120,983 5,545 94,622
Expenditures
Economic Development
Contractual Services 10 45 (35) 1,418
Total Economic Development 10 45 (35) 1,418
Debt Service
Principal 95,000 95,000 90,000
Interest and Fiscal Charges 17,913 17,937 (24) 19,736
Total Debt Service 112,913 112,937 (24) 109,736
Total Expenditures 112,923 112,982 (59) 111,154
Net Change in Fund Balance $ 2,515 8,001 $ 5,486 (16,532)
Fund Balance at Beginning of Year
Fund Balance at End of Year
87,229 103,761
95,230 $ 87,229
107.