City of Des Plaines TIF 3 Report FY2020SECTION 2 [Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.]
FY 2020
Name of Redevelopment Project Area (below):
Primary Use of Redevelopment Project Area*:
If "Combination/Mixed" List Component Types:
Tax Increment Allocation Redevelopment Act
Industrial Jobs Recovery Law
No Yes
Were there any amendments to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65
ILCS 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
Statement setting forth all activities undertaken in furtherance of the objectives of the redevelopment plan, including any project
implemented and a description of the redevelopment activities. [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 (labled 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 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 the municipality? [65 ILCS 5/11-74.4-5 (d) (8) (A) and
5/11-74.6-22 (d) (8) (A)]
If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis
must be attached and (labeled Attachment J).
X
An 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 attachment I is yes, then Analysis MUST be attached and (labeled Attachment J).
X
Has a cumulative of $100,000 of TIF revenue been deposited 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 $100,000 been made into the special tax
allocation fund? [65 ILCS 5/11-74.4-5 (d) (9) and 5/11-74.6-22 (d) (9)]
If yes, the audit report shall contain a letter from the independent certified public accountant indicating compliance or
noncompliance with the requirements of subsection (q) of Section 11-74.4-3 (labeled Attachment L).
X
A list of all intergovernmental agreements in effect to which the municipality is a part, and an accounting of any money transferred
or received by the municipality during that fiscal year pursuant to those intergovernmental agreements. [65 ILCS 5/11-74.4-5 (d)
(10)]
If yes, please enclose the list only, not actual agreements (labeled Attachment M).
X
Please utilize the information below to properly label the Attachments.
TIF 3 Wille Road
X
______
* Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed.
CBD
Mixed
Industrial,Comml
Retail
Under which section of the Illinois Municipal Code was Redevelopment Project Area designated? (check one):
FY 2020
Special Tax Allocation Fund Balance at Beginning of Reporting Period (3,573,065)$
SOURCE of Revenue/Cash Receipts:
Revenue/Cash
Receipts for
Current Reporting
Year
Cumulative
Totals of
Revenue/Cash
Receipts for life
of TIF % of Total
Property Tax Increment 2,170,210$ 12,478,450$ 27%
State Sales Tax Increment 0%
Local Sales Tax Increment 0%
State Utility Tax Increment 0%
Local Utility Tax Increment 0%
Interest 159$ 356,279$ 1%
Land/Building Sale Proceeds 0%
Bond Proceeds 23,282,218$ 50%
Transfers from Municipal Sources 10,055,760$ 22%
Private Sources 0%
Other (identify source _____________; if multiple other sources, attach
schedule) 571,750$ 1%
All Amount Deposited in Special Tax Allocation Fund 2,170,369$
Cumulative Total Revenues/Cash Receipts 46,744,457$ 100%
Total Expenditures/Cash Disbursements (Carried forward from
Section 3.2)
1,889,996$
Transfers to Municipal Sources -$
Distribution of Surplus
Total Expenditures/Disbursements 1,889,996$
Net/Income/Cash Receipts Over/(Under) Cash Disbursements 280,373$
Previous Year Adjustment (Explain Below)-$
.
FUND BALANCE, END OF REPORTING PERIOD*(3,292,692)$
* If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
Previous Year Explanation:
SECTION 3.1 - (65 ILCS 5/11-74.4-5 (d)(5)(a)(b)(d)) and (65 ILCS 5/11-74.6-22 (d) (5)(a)(b)(d))
Provide an analysis of the special tax allocation fund.
TIF 3 Wille Road
FY 2020
TIF NAME:
Amounts Reporting Fiscal Year
Transfers out 7,000
7,000$
2. Annual administrative cost.
-$
3. Cost of marketing sites.
-$
-$
-$
Economic Development 2,219
2,219$
1. Cost of studies, surveys, development of plans, and specifications. Implementation and
administration of the redevelopment plan, staff and professional service cost.
SECTION 3.2 A- (65 ILCS 5/11-74.4-5 (d) (5) (c) and 65 ILCS 5/11-74.6-22 (d) (5)(c))
Category of Permissible Redevelopment Cost [65 ILCS 5/11-74.4-3 (q) and 65 ILCS 5/11-74.6-10
(o)]
PAGE 1
ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND
(by category of permissible redevelopment project costs )
TIF 3 Wille Road
4. Property assembly cost and site preparation costs.
5. Costs of renovation, rehabilitation, reconstruction, relocation, repair or remodeling of existing public
or private building, leasehold improvements, and fixtures within a redevelopment project area.
6. Costs of the constructuion of public works or improvements.
-$
-$
Debt Service 1,880,777
1,880,777$
-$
-$
-$
11. Cost of reimbursing school districts for their increased costs caused by TIF assisted housing
projects.
12. Cost of reimbursing library districts for their increased costs caused by TIF assisted housing
projects.
10. Capital costs.
7. Costs of eliminating or removing contaminants and other impediments.
8. Cost of job training and retraining projects.
9. Financing costs.
PAGE 2
SECTION 3.2 A
-$
-$
-$
-$
-$
-
-$
1,889,996$
17. Cost of day care services.
TOTAL ITEMIZED EXPENDITURES
13. Relocation costs.
14. Payments in lieu of taxes.
15. Costs of job training, retraining, advanced vocational or career education.
16. Interest cost incurred by redeveloper or other nongovernmental persons in connection with a
redevelopment project.
SECTION 3.2 A
PAGE 3
18. Other.
FY 2020
TIF NAME:
Name Service Amount
List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year.
Section 3.2 B
Optional: Information in the following sections is not required by law, but would be helpful in creating fiscal
transparency.
TIF 3 Wille Road
FY 2020
TIF NAME:
FUND BALANCE BY SOURCE (3,292,692)$
Amount of Original
Issuance Amount Designated
1. Description of Debt Obligations
Bond Series 2005A 5,550,000$
Bond Series 2005G 500,000$
Bond Series 2008A 1,241,000$ 131,562$
Bond Series 2010A 3,945,000$
Bond Series 2010B 6,110,760$
Bond Series 2011A 755,000$ 158,876$
Bond Series 2013 565,000$ 77,476$
Bond Series 2014B 2,720,000$ 950,028$
Bond Series 2018 12,410,000$ 11,837,750$
Total Amount Designated for Obligations 33,796,760$ 13,155,692$
2. Description of Project Costs to be Paid
Total Amount Designated for Project Costs -$
TOTAL AMOUNT DESIGNATED 13,155,692$
SURPLUS/(DEFICIT)(16,448,384)$
SECTION 3.3 - (65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d)
Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source
TIF 3 Wille Road
FY 2020
TIF NAME:TIF 3 Wille Road
X Check here if 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:
Property (5):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (6):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (7):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (8):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment
project area.
SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)]
TIF Name:
X
2
TOTAL:11/1/99 to Date
Estimated Investment
for Subsequent Fiscal
Year
Total Estimated to
Complete Project
Private Investment Undertaken (See Instructions)34,211,096$ 750,000$ 7,500,000$
Public Investment Undertaken 6,099,307$ 120,800$ 2,217,444$
Ratio of Private/Public Investment 5 14/23 3 13/34
Project 1*: Phase 1 Wille Road
Private Investment Undertaken (See Instructions)20,000,000$ 750,000$ 7,500,000$
Public Investment Undertaken 4,595,429$ 120,800$ 2,217,444$
Ratio of Private/Public Investment 4 25/71 3 13/34
Project 2*: Phase 2 Wille Road
Private Investment Undertaken (See Instructions)14,211,096$
Public Investment Undertaken 1,503,878$
Ratio of Private/Public Investment 9 9/20 0
Project 3*:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 4*:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 5*:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 6*:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
1. NO projects were undertaken by the Municipality Within the Redevelopment Project Area.
2. The Municipality DID undertake projects within the Redevelopment Project Area. (If selecting this
option, complete 2a.)
2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment
plan:
LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area:
*PROJECT NAME TO BE LISTED AFTER PROJECT NUMBER
Select ONE of the following by indicating an 'X':
SECTION 5 - 20 ILCS 620/4.7 (7)(F)
PAGE 1
FY 2020
TIF 3 Wille Road
Page 1 is to be included with TIF report. Pages 2 and 3 are to be included ONLY if projects are listed.
SECTION 6
FY 2020
TIF NAME:
Year redevelopment
project area was
designated Base EAV
Reporting Fiscal Year
EAV
2000 3,807,465$ 29,703,385$
X
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: 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 the complete TIF report
Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area
List all overlapping tax districts in the redevelopment project area.
If overlapping taxing district received a surplus, list the surplus.
TIF 3 Wille Road
Overlapping Taxing District
Surplus Distributed from redevelopment
project area to overlapping districts
Check if the overlapping taxing districts did not receive a surplus.
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
EnclosedOptional Documents
Legal description of redevelopment project area
Map of District
Attachment C
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. The City also refunded portions of the
outstanding Series 2010A and 2010B General Obligation Bond issuance in a
previous fiscal year.
Attachment K
Attachment L