HomeMy WebLinkAbout#4183 declaring surplus revenue CERTIFICATE
THE UNDERSIGNED CERTIFIES THAT SHE IS THE CITY CLERK FOR THE
CITY OF CANTON, ILLINOIS, AND THAT THE CITY COUNCIL AT A REGULARLY
CONSTITUTED MEETING OF SAID CITY COUNCIL OF THE CITY OF CANTON ON
THE 17TH DAY OF MARCH, 2020 ADOPTED ORDINANCE NO.'1(83. A TRUE AND
CORRECT COPY OF WHICH IS CONTAINED IN THIS PAMPHLET.
-7th
GIVEN UNDER MY HAND AND SEAL THIS 17 DAY OF MARCH,2020.
(SEAL)
DIANA PAVLEY-ROCK
CITY CI RK
CITY OF CANTON,ILLINOIS
ORDINANCE NO. '1-i e3
AN ORDINANCE DECLARING SURPLUS REVENUE
IN THE CANTON 1-DOWNTOWN/5TH AVENUE TIF DISTRICT
SPECIAL TAX ALLOCATION FUND AND AUTHORIZING PAYMENT
OF THAT SURPLUS REVENUE TO THE FULTON COUNTY TREASURER
FOR DISTRIBUTION TO AFFECTED TAXING DISTRICTS
ON A PRO RATA BASIS
for
TAX YEAR 2018 PAYABLE 2019
ADOPTED BY THE MAYOR AND CITY COUNCIL
OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS,
ON THE 17TH DAY OF MARCH,2020.
PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY
COUNCIL OF THE CITY OF CANTON,FULTON COUNTY,ILLINOIS,
THIS 17TH DAY OF MARCH,2020.
EFFECTIVE:MARCH 17,2020
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ORDINANCE NO. 4�3
CITY OF CANTON,ILLINOIS
AN ORDINANCE DECLARING SURPLUS REVENUE
IN THE CANTON 1-DOWNTOWN/5TH AVENUE
SPECIAL TAX ALLOCATION FUND AND AUTHORIZING PAYMENT
OF THAT SURPLUS REVENUE TO THE FULTON COUNTY TREASURER
FOR DISTRIBUTION TO AFFECTED TAXING DISTRICTS
ON A PRO RATA BASIS
for
TAX YEAR 2018 PAYABLE 2019
PREAMBLE
WHEREAS, on the 6th day of July, A.D., 2004, the City of Canton, Fulton County,
Illinois (the "City") by its duly elected Mayor and City Council and pursuant to 65 Illinois Compiled
Statutes Section 5/11-74.4 et. seq. (the "TIF Act") heretofore adopted a Redevelopment Plan and
Projects; designated a Redevelopment Project Area; and adopted Tax Increment Financing for the
Canton 1 -Downtown/5th Avenue Tax Increment Financing (TIF) District (f/k/a the International
Harvester Site TIF District) (the"TIF District");and
WHEREAS, pursuant to the TIF Act, the City approved the First Amendment to the
Canton 1-Downtown/5th Avenue TIF District Redevelopment Project Area, Plan and Projects on
November 22,2011 by Ordinance No. 2052;and
WHEREAS, pursuant to the TIF Act, the City approved the Second Amendment to the
Canton 1 - Downtown/5th Avenue TIF District Redevelopment Project Area, Plan and Projects on
February 6,2012 by Ordinance No. 2071;and
WHEREAS, pursuant to the TIF Act, the City approved the Third Amendment to the
Canton 1 - Downtown/5th Avenue TIF District Redevelopment Project Area, Plan and Projects on
April 5,2017 by Ordinance No. 4068,4069 and 4070;and
WHEREAS, on the 4th day of June, 2013 the City by its duly elected Mayor and City
Council and pursuant to the TIF Act approved and Authorized the Execution of a First
Amendment to an Intergovernmental Agreement with Canton Union School District No. 66 (the
"School District") by Ordinance No. 3016 for the Canton 1 - Downtown/5th Avenue TIF District
and the Canton 2-Rt. 9/Chestnut Street TIF District;and
WHEREAS, pursuant to said First Amendment to the Intergovernmental Agreement
with the School District the City has determined that the TIF District has not resulted in a net
increase in new students enrolled in the School District who also reside in TIF-assisted housing
units within the TIF District;and
WHEREAS, the City Treasurer has determined and reported that as of November 25,
2019, the City has received $804,668.10 in total distributions from the Fulton County Treasurer for
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real estate tax increment generated by the TIF District in tax year 2018 payable 2019 (see Exhibit 1),
including$89,876.50 from the"Hotel Development Site";and
WHEREAS, the City Treasurer has determined and reported that as of November 25,
2019, the Canton 1 - Downtown/5th Avenue Special Tax Allocation Fund includes a surplus of
$17,975.30 which represents twenty percent (20%) of the real estate tax increment deposited into the
Fund for the"Hotel Development Site" for tax year 2018,which surplus amount may be paid at this
time to the Fulton County Treasurer for distribution to taxing districts in the Redevelopment
Project Area in accordance with the provisions of the TIF Act(see Exhibit 2);and
WHEREAS, the Mayor and City Council of the City of Canton hereby find and
determine that it is appropriate to declare surplus in the amount of $17,975.30 and to cause that
surplus to be distributed by the County Treasurer to the taxing districts as provided in the TIF Act.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY
COUNCIL OF THE CITY OF CANTON,FULTON COUNTY,ILLINOIS:
1. The recitals set forth in the preamble to this Ordinance are hereby incorporated by reference
as if fully set forth herein.
2. The Mayor and City Council, pursuant to Sections 4-7 and 4-9 of the TIF Act and other
applicable authority, hereby declare a surplus of funds in the Canton 1 - Downtown/5th
Avenue Special Tax Allocation Fund in the amount of$17,975.30, to be distributed by the
Fulton County Treasurer to all the taxing districts in the Redevelopment Project Area (see
Exhibit 2).
3. The City Treasurer is hereby authorized and directed to pay such funds from the Canton 1-
Downtown/5th Avenue Special Tax Allocation Fund in the amount of $17,975.30 to the
Fulton County Treasurer for distribution to the taxing districts in the Redevelopment Project
Area in accordance with the provisions of the TIF Act. Payment by the City Treasurer shall
be made not more than 180 days after the close of the City's Fiscal Year 2020. The City
Treasurer also is authorized and directed to file a certified copy of this Ordinance with the
Fulton County Treasurer.
4. This Ordinance shall be in full force and effect from and after its passage and approval as
provided by law and shall take effect upon its passage as required by law.
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PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the City of
Canton,Fulton County,Illinois,on the 17th day of March,A.D., 2020, and deposited and filed in the
Office of the City Clerk of said City on that date.
MAYOR&ALDERMEN AYE VOTE NAY VOTE ABSTAIN/ABSENT
Alderman Ryan Mayhew X
Alderwoman Angela Lingenfelter X ABSENT
Alderman Jeff Fritz X
Alderman Craig West X ABSENT
Alderman Quin Mayhew X
Alderman Justin Nelson X
Alderman John Lovell X
Alderwoman Angela Hale X ABSENT
TOTAL VOTES 5 0 3
APPROVED: ATTES
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ayor IC City Cler.
ATTACHMENT:
EXHIBIT 1: Canton 1-Downtown/5th Ave TIF District Real Estate Tax Increment Distributions
EXHIBIT 2: Canton 1-Downtown/5th Ave TIF District Surplus Distribution Calculation
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EXHIBIT 1
Canton 1-Downtown/5th Avenue Real Estate Tax Increment Distributions
Received by the City of Canton from the Fulton County Treasurer
for tax year 2018 payable 2019
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Tax Year:2018 Final Settlement Sheet Page 1 of 1
Fulton County 11/21/2019 14:53
INIH - CANTON 1-DOWNTOWN/5TH AVENUE INCREMENT
Current Year Taxes Due Current Year Taxes Paid
Original Amount Due $805,904.50 + Real Estate $804,668.10
+ Supplements $0.00 + Railroad $0.00
- Cancellations $433.88 + Mobile Home $0.00
- Abatements/Refunds $0.00 + Misc.Adjustments $0.00
+ Mobile Home $0.00 + Prior Year Real Estate $0.00
+1- Road&Bridge Transfer $0.00 + Prior Year Mobile Home $0.00
+ Misc.Adjustments $0.00 + Prior Year Misc.Adjustments $0.00
Adjusted Amount Due $805,470.62 - Abatements/Refunds $0.00
+ Prior Year Real EstateTax $0.00 Total Collected $804,668.10
+ Prior Year Mobile Home Tax $0.00 + Hold Back $0.00
+ Prior Year Misc.Adjustments $0.00 + County Trustee $624.08
Total Amount Due $805,470.62 + Forfeited Tax $178.44
Total $805,470.62
Interest Distribution
County Interest $154.64
Township Interest $0.00
Total Interest $154.64
Distribution Summary
Tax Distribution Date Amount
06/28/2019 $715.92
07/31/2019 $326,307.22
08/30/2019 $35,253.60
09/30/2019 $376,452.15
11/25/2019 $65,939.21
Totals:5 Distributions $804,668.10
Interest Distribution Date Amount
11/19/2019 $154.64
Totals: 1 Distributions $154.64
Grand Totals:6 Distributions $804,822.74
Fund Summary
Previously Current Amount PY Over
Fund Amount Collected Distributed Distribution Available Interest Distrib
001 -CORPORATE $804,668.10 $738,728.89 $65,939.21 $0.00 $154.64 $0.00
Totals $804,668.10 $738,728.89 $65,939.21 $0.00 $154.64 $0.00
Miscellaneous Adjustment Detail
Year Source Account Type Amount Adiustment Description
2017 RE-Real Estate Back Tax Collected $0.00 CANTON TIF 1 HOTEL SURPLUS LEVY 2017 by TBA
2018 RE-Real Estate Back Tax Collected $0.00 CANTON TIF 1 HOTEL SURPLUS LEVY 2017 by TBA
2018 RE-Real Estate Back Tax Collected $0.00 09-08-35-110-005 ROBERT MELODY HAILE 17 by TBA
Totals 3 entries $0.00
Abatement Detail
Year Source Account Type Amount Adiustment Description
2017 RE-Real Estate Real Estate Abatement $0.00 BACK OUT CANTON TIF 1 HOTEL SURPLUS LEVY by TBA
Totals 1 entries $0.00
(C)2019 DEVNET Incorporated KCAULKINS
EXHIBIT 2
Canton 1-Downtown/5th Avenue TIF District
Surplus Distribution Calculation
for tax year 2018 payable 2019
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EXHIBIT 2
CANTON 1 - DOWNTOWN/5TH AVE
TIF DISTRICT
2018 PAYABLE 2019 SURPLUS CALCULATION
Parcel#09-08-27-409-011
2018 Hotel Real Estate Tax Increment: $89,876.50
2018 Hotel Surplus(20%): $17,975.30
District's
2018 Tax %of Total Share of
Taxing District Rate Tax Rate Surplus
City of Canton 2.3370% 23.46% $4,216.65
Canton Park District 0.7474% 7.50% $1,348.53
Canton Township 0.2083% 2.09% $375.83
Canton Twp Road 0.3535% 3.55% $637.82
Canton Union SD#66 4.0124% 40.28% $7,239.56
Fulton Co Ambulance 0.1654% 1.66% $298.43
Fulton County 1.4834% 14.89% $2,676.49
Spoon River Jr Coll 534 0.6551% 6.58% $1,181.99
Totals 9.9625% 100.00% $17,975.30
School Share Calculation:
Total School Share of Hotel Increment(10%): $8,987.65
School Share of Surplus: $7,239.56
Additional School Share: $1,748.09
HACANTON\CANTON1-OT 5TH AVE TIF1SpreadsheetslSurplusCakulatans The Economic Development Group,Ltd.