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HomeMy WebLinkAbout#4095 Canton 2 RT9/ Chestnut • RECEIVED MAR 02 2018 O P STACI L. MAYALL UFULTON CO. TREASURER CERTIFICATE THE UNDERSIGNED CERTIFIES THAT SHE IS THE CITY CLERK FOR THE CITY OF CANTON,ILLINOIS,AND THAT THE CITY COUNCIL AT A REGULARLY CONSTITUTE) MEETING OF SAID CITY COUNCIL OF THE CITY OF CANTON ON THE 20TH DAY OF FEBRUARY,2018 ADOPTED ORDINANCE NO. NOQS. A TRUE AND CORRECT COPY OF WHICH IS CONTAINED IN THIS PAMPHLET. GIVEN UNDER MY HAND AND SEAL THIS a DAY OF FEBRUARY,2018. (SEAL) A I D�eA4 P/VLE'-ROCK CITY CLERK CITY OF CANTON ORDINANCE NO. 4405— AN a4SAN ORDINANCE DECLARING SURPLUS REVENUE IN THE CANTON 2-RT.9/CHESTNUT ST. 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 2016 PAYABLE 2017 PASSED BY THE CITY COUNCIL OF THE CITY OF CANTON THE 2O111 DAY OF FEBRUARY,2018. PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY COUNCIL OF THE CITY OF CANTON,FULTON COUNTY,ILLINOIS, THIS 20TM DAY OF FEBRUARY,2018. EFFECTIVE: FEBRUARY 20,2018 ORDINANCE NO. 409-1 J5- CITY OF CANTON,ILLINOIS AN ORDINANCE DECLARING SURPLUS REVENUE IN THE CANTON 2-RT. 9/CHESTNUT ST. 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 2016 PAYABLE 2017 PREAMBLE WHEREAS,on the 6th day of February, A.D.,2012,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. seg. (the "TIF Act") heretofore adopted a Redevelopment Plan and Projects; designated a Redevelopment Project Area;and adopted Tax Increment Financing for the Canton 2 - Rt. 9/Chestnut St.Tax Increment Financing(TIE) District(the"TIE District");and WHEREAS, on the 19* day of March, 2013 pursuant to the TIF Act, the City approved the First Amendment to the Canton 2 - Rt. 9/Chestnut St. TIF District Redevelopment Project Area, Plan and Projects by Ordinance No. 3009;and WHEREAS, on the 6h day of December, 2011 the City by its duly elected Mayor and City Council and pursuant to the '1'II% Act approved and Authorized the Execution of an Intergovernmental Agreement with Canton Union School District No. 66 (the"School District") by Ordinance No. 2056 for the Canton 2-Rt. 9/Chestnut Street TIF District;and WHEREAS, on the 4`1' 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 the Intergovernmental Agreement with Canton Union School District No. 66 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 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 TI F-assisted housing units within the TIF District;and WHEREAS,the City Treasurer has determined and reported that as of November 20,2017, the City has received $371,072.88 in total real estate tax distributions from the Fulton County Treasurer for real estate tax increment generated by the TIF District in tax year 2016 payable 2017 (Exhibit 1); and Page 1 WHEREAS,the City Treasurer has determined and reported that as of November 20,2017,the Canton 2- Rt. 9/Chestnut St. Special Tax Allocation Fund includes a surplus of$165,222.56,which represents one hundred percent (100%) of the tax year 2016 real estate tax increment deposited into the Fund for the "Special Surplus Area", as defined in the Redevelopment Plan, and twenty percent (20%) of the tax year 2016 real estate tax increment deposited into the Fund for the balance of the TIF District,which surplus amount may be paid to the Fulton County Treasurer for distribution to taxing districts in the Redevelopment Project Area in accordance with the provisions of the TIF Act (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 $165,222.56 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 2 - Rt. 9/Chestnut St. Special Tax Allocation Fund in the amount of$165,222.56, to he distributed by the Fulton County Treasurer to all the taxing districts in the Redevelopment Project Area. 3. The City Treasurer is hereby authorized and directed to pay such funds from the Canton 2- Rt. 9/Chestnut St. Special Tax Allocation Fund in the amount of$165,222.56 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 after approval of this Ordinance, but not more than 180 days after the dose of the City's Fiscal Year 2018. 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. [The remainder of tbir page it intentranally blank.] Page 2 PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the City of Canton, Fulton County, Illinois, on the 20th day of February,A.D., 2018,and deposited and bled in the Office of the City Clerk of said City on that date. MAYOR&ALDERMEN AYE VOTE NAY VOTE ABSTAIN/ABSENT Alderwoman Angie Lingenfeiter Alderman Chris Jump Alderman Ryan Mahew Alderwoman Angela Hale Alderman Justin Nelson Alderman Craig West Alderman John Lovell Alderman Tad Putrid, Mayor Kent McDowell TOTAL VOTES APPROVED: A ST• 54: ISTR.14 Mayor .ity Clerk ATTACHMENT. EXHIBIT 1: Canton 2-Rt.9/Chestnut St. TIF District Real Estate Tax Increment Distributions EXHIBIT 2: Canton 2-Rt.9/Chestnut St.TIF District Surplus Distribution Calculation H\r.NVIOMC4NmIN2 R]Y(yf✓SAOit sAss;tr\c n Z_2016.foftait a.OtLOIIIIA- Page 3 EXHIBIT 1 Canton 2- Rt.9/Chestnut St. Real Estate Tax Increment Distributions Received by the City of Canton from the Fulton County Treasurer for tax year 2016 payable 2017 Page 4 Tax Wan 20/8 Final Settlement Sheet Page 1at1 Fulton County 11001201714.16 INC2 -CANTON 2-Rt. 9/Chestnut Street Increment Current Year Taxes Due Current Year Taxes Paid Original Amount Due 5375,341.80 + Real Estate $371,072.88 + Supplements $422.68 + Railroad $0.00 - Cancellations $3,831.32 + Mobile Home $0.00 • Abatements/Refunds $0.00 + Misc.AdJustmenis $0.00 + Mobile Home $0.00 + Prior Year Real Estate $0.00 +/- Road 8 Bridge Transfer $0.00 + Prior Year Mobile Home $0.00 • + Misc.Adjustments $0.00 + Prior Year Misc.Adjustments $0.00 Adjusted Amount Due $371,933.18 - Abatements/Refunds $0.00 + Prim Year Real Esl&eTax $0.00 Total Collected $371,072.68 + Prior Year Mobile Hone Tax $0.00 + Hold Back $0.00 + Prior Year Misc.Adjustments $0.00 • County Trustee $804.08 Total Amount Due $371,933.16 « Forfeited Tax $56.20 Total $371,933.16 Worries Distribution County Interest $48.78 Township Internet $0.00 Total lntmest $48.78 • Distribution Summary Tax Distribution Date Amount 05/31/2017 170,769.55 08/30/2017 $180,884.18 07/31/2017 51,908.99 I 08/28/2017 64,735.07 08/28/2017 $120,452.23 112012017 112,344.88 Totes:6 Distributions $371,072.86 Interest Distribution Date Amount 11/20/2017 $48.78 Totals:1 Distributions $48.76 Grand Totals:7 Distributions $371,121.66 Fund Summary 1 Prevlatsy Current Amount FY Over Fund Amount Collided Clembulad Distribution Available Interest DStnb 001-CORPORATE $371,072.80 6358,728.00 $12,344.88 $0.00 $48.78 80.00 Taal 1571,072.11 8889,728.00 $12,344.11 $0.08 $48.71 $0.00 Miscellaneous Adjustment Detail Yam M1fl 619Mifittalt Amauot astalmsallagn 2018 RE-Wal Eslala Bad Tac Collected $0.00 MCKIM.EY by TBA 2018 RE-Reel EMMe SedTn Collected $0.00 LONO by TBA 2018 RE-Real atlas Bad Tax Collected $0.00 SLACK by TBA 2018 RE-Real Estate Bad Tat Collected $000 TOMICH by 19A 2016 RE-Real Estate Bad Tex Collected $0.00 HALBERT by TM Totals sentries $0.00 (C)2017DEVNETexxxpuaMd MATM3 EXHIBIT 2 Canton 2-Rt. 9/Chestnut St.TIF District Surplus Distribution Calculation for tax year 2016 payable 2017 Page 5 CANTON 2 - RT. 9/CHESTNUT ST. TIF DISTRICT 2016 PAYABLE 2017 SURPLUS CALCULATION 1/30/2018 Total Estimated 2016 TIF 2 Real Estate Tax Increment: $375,341.80 Total 2016 TIF 2 Real Estate Tax Increment Received: $371,072.88 TIF 2 Surplus-Special Surplus Area(100%): 5113,759.98 TIE 2-Balance of TIE Real Estate Tax Increment $257,312.90 TIE 2 Surplus-Balance of TIF(20%): $51,462.58 Total TIE 2 Surplus of R.E.Tax Increment: $165,222.56 2016 Tax %of Total Share of 100% Share of 20% Total Share Taxing District Rate Tax Rate Surplus Surplus of Surplus City of Canton 2.3109% 22.62% $25,730.95 $11,640.13 $37,371.08 Canton Park District 0.9501% 9.30% $10,578.98 $4,785.71 $15,364.69 Canton Township 03460% 3.39% $3,852.57 $1,742.82 $5,595.39 Canton Twp Road 0.3469% 3.40% $3,862.59 $1,747.35 $5,609.94 Canton CUSD866 3.8947% 38.12% $43,365.93 $19,617.82 $62,983.75 Fulton Co Ambulance 0.1701% 1.66% $1,894.00 $856.80 $2,750.80 Fulton County 1.5902% 15.56% $17,706.24 $8,009.92 $25,716.16 Spoon River Jr Coll 534 0.6079% 5.95% $6,768.72 $3,062.03 $9,830.75 Totals 10.2168% 100.00% $113,759.98 $51,462.58 $165,222.56 Total School Share of Increment(10%): $37,107.29 Total School Share of Surplus: $62,983.75 Additional School Share Due: $0.00 N:Iwn•xluvroN 2 0179-ntr.a.StISpreadsheehlturphalconton ttuplu anool mkobrm.206 The Economic Development Group,Ltd. 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 6TH DAY OF FEBRUARY, 2018 ADOPTED ORDINANCE NO.4095. A TRUE AND CORRECT COPY OF WHICH IS CONTAINED IN THIS PAMPHLET. 111 GIVEN UNDER MY HAND AND SEAL THIS DAY OF FEBRUARY,2018. (SEAL) Sir DIA �0�' -' •CK CITY CLERK CITY OF CANTON ORDINANCE NO. 4095 AN ORDINANCE DECLARING SURPLUS REVENUE IN THE CANTON 2 - RT. 9/CHESTNUT ST. 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 2016 PAYABLE 2017 PASSED BY THE CITY COUNCIL OF THE CITY OF CANTON THE 6T" DAY OF FEBRUARY, 2018. PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY COUNCIL OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, THIS 6T"DAY OF FEBRUARY, 2018. EFFECTIVE: FEBRUARY 6, 2018 ORDINANCE NO. 4095 CITY OF CANTON, ILLINOIS AN ORDINANCE DECLARING SURPLUS REVENUE IN THE CANTON 2 - RT. 9/CHESTNUT ST. 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 2016 PAYABLE 2017 PREAMBLE WHEREAS,on the 6th day of February,A.D., 2012, 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. req. (the "TIF Act") heretofore adopted a Redevelopment Plan and Projects; designated a Redevelopment Project Area; and adopted'fax Increment Financing for the Canton 2 - Rt. 9/Chestnut St. Tax Increment Financing(TIF) District (the "TIE District"); and WHEREAS, on the 19th day of March, 2013 pursuant to the TIF Act, the City approved the First Amendment to the Canton 2 - Rt. 9/Chestnut St. TIF District Redevelopment Project Area, Plan and Projects by Ordinance No. 3009; and WHEREAS, on the 6th day of December, 2011 the City by its duly elected Mayor and City Council and pursuant to the TIF Act approved and Authorized the Execution of an Intergovernmental Agreement with Canton Union School District No. 66 (the "School District") by Ordinance No. 2056 for the Canton 2-Rt. 9/Chestnut Street TIB District;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 the Intergovernmental Agreement with Canton Union School District No. 66 by Ordinance No. 3016 for the Canton I - Downtown/5th Avenue TIF District and the Canton 2 - Rt. 9/Chestnut Street TIF District; and WHEREAS, pursuant to said 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 20,2017, the City has received $371,072.88 in total real estate tax distributions from the Fulton County Treasurer for real estate tax increment generated by the TIF District in tax year 2016 payable 2017 (Exhibit I); and Page 1 WHEREAS, the City Treasurer has determined and reported that as of November 20, 2017, the Canton 2 - Rt. 9/Chestnut St. Special Tax Allocation Fund includes a surplus of$165,222.56, which represents one hundred percent (100%) of the tax year 2016 real estate tax increment deposited into the Fund for the "Special Surplus Area", as defined in the Redevelopment Plan, and twenty percent (20%) of the tax year 2016 real estate tax increment deposited into the Fund for the balance of the TIF District, which surplus amount may be paid to the Fulton County Treasurer for distribution to taxing districts in the Redevelopment Project Area in accordance with the provisions of the TIF Act (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 $165,222.56 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 TIE Act and other applicable authority, hereby declare a surplus of funds in the Canton 2 - Rt. 9/Chestnut St. Special Tax Allocation Fund in the amount of$165,222.56, to be distributed by the Fulton County Treasurer to all the taxing districts in the Redevelopment Project Area. 3. The City Treasurer is hereby authorized and directed to pay such funds from the Canton 2 - Rt. 9/Chestnut St. Special Tax Allocation Fund in the amount of$165,222.56 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 after approval of this Ordinance, but not more than 180 days after the close of the City's Fiscal Year 2018. 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. [The remainder of thispage is intentionally blank] Page 2 PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the City of Canton, Fulton County, Illinois, on the 6th day of February, AD., 2018, 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 Alderwoman Angie Lingcnfelter X Alderman Chris Jump X Alderman Ryan Mayhew X Alderwoman Angela Hale X Alderman Justin Nelson X Alderman Craig West X Alderman John Lovell X Alderman Tad Putrid, X ABSTAIN Mayor Kent McDowell TOTAL VOTES 7 0 1 APPROVED: ��/�" ATTES S yo oT ��C City � er ATTACHMENT: EXHIBIT 1: Canton 2 - Rt. 9/Chestnut St. TIF District Real Estate Tax Increment Distributions EXHIBIT 2: Canton 2- Rt. 9/Chestnut St.TIF District Surplus Distribution Calculation H:\cANTOA CANTON 2 Rrs remxl3i\une.,.m\Sarpl\cqnwi 220/6SkThe IkrLalim nrJ_OIII1e.9n Page 3 EXHIBIT 1 Canton 2- Rt. 9/Chestnut St. Real Estate Tax Increment Distributions Received by the City of Canton from the Fulton County Treasurer for tax year 2016 payable 2017 Page 4 • Tax Year:2016 Final Settlement Sheet Page 1 of 1 • Fulton County 11/20/2017 14:56 INC2 -CANTON 2-Rt. 9/Chestnut Street Increment Current Year Taxes Due Current Year Taxes Paid i Original Amount Due $375,341.80 + Real Estate + Supplements $422.68 + Railroad $0$371,0$0.00.68 - Cancellations $3,831.32 + MobileleHome $0.00 - Abatements/Refunds $0.00 + Misc.Adjustments $0.00 • + Mobile Home $0.00 + Prior Year Real Estate $0.00 • +/- Road 8 Bridge Transfer $0.00 + Prior Year Mobile Home $0.00 + Misc.Adjustments $0.00 + Prior Year Misc.Adjustments $0.00 Adjusted Amount Due $371,933.16 - Abatements/Refunds $0.00 + Prior Year Real EstateTax $0.00 Total Collected $371,072.88 + Prior Year Mobile Home Tax $0.00 + Hold Back $0.00 + Prior Year Misc.Adjustments $0.00 + County Trustee $804.08 Total Amount Due $371,933.16 + Forfeited Tax $56.20 Total $371,933.16 •• Interest Distribution County Interest $48.78 Township Interest $0.00 Total Interest $48.78 • Distribution Summary Tax Distribution Date Amount 05/31/2017 $70,769.55 06/30/2017 $160,864.16 07/31/2017 $1,906.99 08/28/2017 $4,735.07 09/28/2017 $120,452.23 11/20/2017 $12,344.88 Totals:6 Distributions $371,072.88 • • Interest Distribution Date Amount 11/20/2017 $48.78 Totals:1 Distributions $48.78 Grand Totals:7 Distributions $371,121.66 Fund Summary Previously Current Amount PV Over Fund Amount Collected Distributed Distribution Available interest Dlstsb 001 -CORPORATE $371,072.88 $358,728.00 $12,344.88 $0.00 $48.78 $0.00 Totals $371,072.88 068,728.00 $12,344.68 $0.00 $48.78 $0.00 Miscellaneous Adjustment Detail Year Source Account Woe Amount Adjustment Description 2016 RE-Real Estate BadcTax Collected $0.00 MCKINLEY by TBA 2016 RE-Real Estate Back Tax Collected $0.00 LONG by TBA 2016 RE-Real Estate Back Tax Collected $0.00 SLACK by TBA 2016 RE-Real Estate Bark Tax Collected $0.00 TOMICH by TM 2016 RE-Real Estate Back Tax Collected $0.00 HALBERT by TBA Totals 6 entries $0.00 JMATHIS (C)2017 DEVNET Incorporated EXHIBIT 2 Canton 2 - Rt. 9/Chestnut St. TIF District Surplus Distribution Calculation for tax year 2016 payable 2017 Page 5 CANTON 2 - RT. 9/CHESTNUT ST. TIF DISTRICT 2016 PAYABLE 2017 SURPLUS CALCULATION 1/30/2018 Total Estimated 2016 TIF 2 Real Estate Tax Increment: $375,341.80 Total 2016 TIF 2 Real Estate Tax Increment Received: $371,072.88 TIF 2 Surplus-Special Surplus Area(100%): $113,759.98 TIF 2- Balance of TIF Real Estate Tax Increment $257,312.90 TIF 2 Surplus-Balance of TIF(20%): 551,462.58 Total TIF 2 Surplus of R.E.Tax Increment: $165,222.56 2016 Tax %of Total Share of 100% Share of 20% Total Share Taxing District Rate Tax Rate Surplus Surplus of Surplus City of Canton 2.3109% 22.62% $25,730.95 $11,640.13 $37,371.08 Canton Park District 0.9501% 9.30% $10,578.98 $4,785.71 $15,364.69 Canton Township 0.3460% 3.39% $3,852.57 $1,742.82 $5,595.39 Canton Twp Road 0.3469% 3.40% 53,862.59 $1,747.35 $5,609.95 Canton CUSD#66 3.8947% 38.12% $43,365.93 $19,617.82 $62,983.74 Fulton Co Ambulance 0.1701% 1.66% $1,894.00 $856.80 $2,750.80 Fulton County 1.5902% 15.56% $17,706.24 $8,009.92 $25,716.17 Spoon River Jr Coll 534 0.6079% 5.95% $6,768.72 $3,062.03 $9,830.75 Totals 10.2168% 100.00% $113,759.98 $51,462.58 $165,222.56 Total School Share of Increment(10%): $37,107.29 Total School Share of Surplus: $62,983.74 Additional School Share Due: $0.00 ,qux,ONTO.NIox:n,9LheormsgSp,eaashempvpbstCumoa p 5220%&school mrt&k,i., a The Economic Development Group.Lm_