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HomeMy WebLinkAbout02-07-2014 Joint Review Board Meeting JOINT REVIEW BOARD MEETING AGENDA I. Sign In Sheet II. Purpose of Meeting is to review concurrently the status of the Canton TIF Districts. A. Section 74.4-5. (e) "The joint review board shall meet annual1X180 days after the close of the municipal fiscal year or as soon as the redevelopment project audit for that fiscal year becomes available to review the effectiveness and status of the redevelopment project area un to that date." B. Report made by Mayor(or JK/ EDG Representative). III. Canton 4-A TIF: Fiscal Years 2011 & 2012 A. Itemized list of income and expenses B. Projects listed were done in that Fiscal Year only C. Discuss Projects prior to beginning of May 1, 2010 D. Discuss current Projects from May l, 2011 to date IV. Canton TIF 1-Downtown: Fiscal Years 2011 & 2013 A. Itemized list of income and expenses B. Projects listed were done in that Fiscal Year only C. Discuss Projects prior to beginning of May 1, 2010 D. Discuss current Projects from May 1, 2012 to date V. Canton TIF 2-Rt. 9: Fiscal Years 2012 & 2013 A. Itemized list of income and expenses B. Projects listed were done in that Fiscal Year only C. Discuss Projects prior to beginning of May 1, 2011 D. Discuss current Projects from May 1, 2012 to date VI. Adjourn �Bl an anal s�� is �re�ared bv financial advisor or underwriter setting forth: (il nature and term of obligation;and(ul projected debt service including required reserves and debt coverage. �9,1 For s�ecial tax allocation funds that have e�erienced cumulative de�osits of incremental tax revenues of$100,000 or more,a certified audit re�ort reviewing com�liance with this Act�erformed by an inde�endent�ublic accountant certified and licensed by the authority of the State of Illinois. The financial�ortion of the audit must be conducted in accordance with Standards for Audits of Governmental Or�anizations, Programs.Activities,and Funcrions ado�ted by the Com�troller General of the United States ,19811, as amended, or the standards s�ecified bv Section 8-8-5 of the Illinois Munici�al Auditing Law of the Illinois Munici�al Code. The audit re�ort shall contain a letter from the inde�endent certified �ublic accountant indicating com�liance or noncom�liance with the rec�uirements of subsecrion (,�1 of Section 11-74.4-3. For redevelo�ment �lans or �rojects that would result in the dis�lacement of residents from 10 or more inhabited residential units or that contain 75 or more inhabited residential units,notice of the availabilitv of the informarion,including how to obtain the rebort,rec�uired in this subsection shall also be sent by mail to all residents or or�anizations that o�erate in the munici�alitv that register with the munici�alitv for that information according to registration�rocedures ado�ted under Section 11-74.4-4.2. All munici�alities are subject to this�rovision. (d-1) Prior to the effective date of this amendatory Act of the 91st General Assembl� munici�alities with�opulations of over 1,000,000 shall,after ado�tion of a redevelo�ment�lan or �roject.make available u�on request to an t��ng district in which the redevelopment �roject area is located the following information: �1) Any amendments to the redevelo�ment�lan,the redevelo�ment�roject area. or the State Sales Tax Bounda ,;r�nd (21 In connection with any redevelo�ment �roject area for which the munici�ality has outstanding obligations issued to�rovide for redevelo�ment �roject costs �ursuant to Section 11-74.4-7, audited financial statements of the s�ecial tax allocation fund. (e) The joint review board shall meet annually 180 davs after the close of the munici�al fiscal year or as soon as the redevelopment project audit for that fiscal vear becomes available to review the effectiveness and status of the redevelo�ment�roject area u� to that date. lank . �g,l In the event that a munici�alitv has held a �ublic hearing under this Section�rior to March 14 1994 the effective date of Public Act 88-537 , the requirements imposed bv Public Act 88-537 relating to the method of fixing the time and �lace for �ublic hearing, the materials and information rec�uired to be made available for�ublic inspection.and the information rec�uired to be sent after ado�tion of an ordinance or resolution fi�ng a time and�lace for�ublic hearing shall not be a�licable. ,Source: P.A. 91-357, eff. 7-29-99;91-478,eff. 11-1-99; 91-900, eff. 7-6-00: 92-263,ef£ 5-7-01;92-624,eff. 7-11-02.1 �65 ILCS 5/11-74.4-6)NOTICE OF PUBLIC HEARING Sec. 11-74.4-6. (a Exce�t as �rovided herein,notice of the�ublic hearing shall be given b� �ublication and mailing. Notice b��ublication shall be given b��ublication at least TIF ANNUAL REPORTS AVAILABLE ONLINE AT: http://warehouse illinoiscomptroller com/ �1��ww����� .�--� � •� �' r IIIInolsmrnptfollertOm z Q�CMNtl[ ��ftl�t Q►-`t�;.+fj X i � -'� . ,a _- _. �n+.w+.+,aw-Laarerrn..x b,� �� 1a'i`��.7 i3.f . �, ' �Z � ' ► �•�� }pr ° �� ; �. ..�� � 1 � � , y ����' <,t � •� .� � ,� ; , .. .. a► . � �,;; _ � Welcome to The Warehouse! �II, � DearTaxpayer we�come ro me srate compUOners wca�yovemmem warenouseli� _ e. - The Wareharse�your porfal to loat govemment 1lnances.Each year,the CompraRer's Office coBects more tf�an 9.20D tMandal rePals trom countks:mim�cipaHtles.and special ta�tlng Clstrkls across the sFate.We have taken Nose records an0 maUe U�em ab avauade mr taxpayer revfew at mrs sRe,awow"eig you ro scour art wareho�se fran wherever you are bcate0. Yau can search the Waretrouse by repprt tyPe.urul oi governmeM or communily . . . . . name.Once yai Irave selectea a bcal govemmem,You wla De taken to a I�qing Da9e where you can revlew a snapslat of Ma�ces.Mnual finandal RepwGa.and � Q nuetts.Ma by clfcarg on a^compare tlata°butlon.You c�see now ane untt oT gavemmen[stacks up agaYist anWner. As the State's C�lef Fiscat Officer,I�ave matle tt rtry rt�ssion to he�tazPayers YoNOw �0 G�0 ,2 C�e monep.'first wflh Me LeOger o1lCsias state flnances.arW rww through Ne Wareliaise.Mtl we're not tlane yet.Pkase Oo n�t�essrtate to oontact me wtth yax s�99esdo�s.comrtienl5 ot que5tion5.1 boK taw2rtl to Aeanng hom you. Sincereiy, � JWy B3arT�inka ilpnp6$fyte Cprty�t�pger �.^�'Ff:;'���.��Q�;JP�, ,�����G�.... �r t('''��'�W-- . . � s. . �•. ,__. . . 1�+T� �Irqs•Ls.. . . . . �.��UihORYfeYeqlne.���. ..Nl14t � � � . . :. . � :. .. :��� 'r :S'Nesrst. . i$iheMaenet�.�. .(��1'b,rt�NMet.� . .u's G{��.:� 4'15RA. CITY OF CANTON � � ��:. Canton 1 - Downtown/5th Ave. Tax Increment Financing (TIF) District FY 2012 Summary 2 North Main Street,Canton, IL 61520 Ph:(309)647-0065 Harvester Inn Hotel,Canton TIF 1 Canton TIF District 1 - Facts & Stats for FY2012: Established.....................................................................................................................................................................2004 Ends......................................................................................................................................Tax Year 2027 Payable 2028 BaseTax Year................................................................................................................................................................2003 TIFBase EAV....................................................................................................................................................$5,148,444 Tax Year 2010 Net Taxable EAV.................................................................................................................$10,548,333 Tax Year 2010 RE Tax Increment......................................................................................................................$507,135 Total Obligations in TIF Plan as amended, FY2012.................................................................................$68,139,348 TotalExpenditures to Date............................................................................................................................$10,047,667 RemainingObligations....................................................................................................................................$58,091,681 Canton TIF District 1 — FY2012 Overview In 1983,International Harvester reported a$165 million loss and announced permanent closure of the Canton, Illinois plant. When the IH plant closed, more than 3,000 jobs were lost and the equivalent of 20 percent of Canton's population was suddenly out of woYk. In 2004, the Canton International Na�ve.rter Site Project Area Tax Inctiement Financzng Di.rtrict Redevelopment Plan,Area and Projec•t.r was established to address the lack of new private investment and provide a mechanism for financing extensive environmental cleanup,site preparation and other eligible costs the City would need to incur in order to redevelop the former IH site, the Cit��'s central business district and the adjacent 5th Avenue Commercial Corridor. On November 22, 2011, the City approved the First Amendment to the Canton IH TIF District. This FiYSt Amendment Yenamed the TIF District as Canton 1 — DoavTatoavrz�5'�'Avenue TIF Di.rtric•t("Canton TIF 1") and added projects and additional TIF eligible project costs to the redevelopment plan. On FebYUary 6, 2012, the Ciry approved the Second Amendment to Canton TIr 1, thereb5� removing certain parcels from the redevelopment project area. Canton TIF District 1/FY2012 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 The City has made significant coininitments of time and money to address several o€its goals and to encourage conservation and redevelopment of the Canton TIF 1 Redevelopment Project Area. In December of 2008, an emotional crowd of more than 1,000 residents listened to William "Bill" Cook, a narive of Canton, announce plans to construct Cook Medical in 2010, a medical device manufacturing facility on a portion of the former International Harvester site that had received a "No Further Remediation° letter from the IEPA. The construction of this 45,000 square foot faciliry, which will employee more than 300, represents a significant milestone for the Canton community. A second Cook facility to manufacture polytetrafluoroethylene (I'TFE) tubing is under was construction. Cook Medical as well as Cook's efforts to develop the Harvester Inn Hotel and purchase and renovate several aging buildings in downtown Canton,including the 1883 Randolph Building, has brought much needed momentum to the City's economic development plan. These Projects have presented new, previously unforeseen opportunities to redevelop the embatded Canton IH TIF District redevelopment project area. Based largely on the availability of new real estate tax increment resulting from the Cook improvements, the City issued$7 million of Serie.r 2011 Debt Certific•ate.r on December 1, 2011 by pledging Canton TIF 1 funds for the annual debt service. The Debt Certificates were issued to refinance costs incurred for the cleanup and redevelopment of the IH site as well as additional public infrastructure improvements. Fiscal Year 2012 Activity �e�� For Fiscal Yea�29��;(beginning May 1,2011 and ending Apri130,2012),the Canton 1 -Downtown/5�"Avenue TIF District Special Fund(the"TIF Fund") had a beginning balance of$520,746. With deposits in the amount of$7,660,615, the total amount available in the TIF Fund during FY2012 was $8,181,361. Sources of funds included Real Estate Tax Increment ($507,135), Interest Income ($769), Bond Proceeds ($7,000,000), DCEO Grant ($93,750) and Miscellaneous Income ($58,961) as depicted in Figure 1 below. The total public and private TIF eligible project costs expended from the TIF Fund during FI'2012 amounted to$5,593,051 and included those categories of funds shown in Figure 2below. The ending balance of the Canton TIF District 1 Special Tax Allocation Fund as of April 30, 2012, was $2,588,310. These funds included $2,569,419 remaining in the Seriee�2011 Debt Certifi�ate.r sub-account. The real estate tax increment generated by Canton TIF District 1 for FY2013 is estimated to be$635,531. Figure 1. Canton 1-Downtown/5th Ave.TIF District Figure 2. Canton 1-Downtown/5th Ave.Tlf District Revenues(FY2012) Expenditures(FY2012) Debt Debt Cert.,, Retirement, S�,000,000,ser $a,000,000, n� ,r. "��,. Administrative Professional, $276,554,5% � R.E.Tax Streets, Increment, $605,439,11% $507,135,6% Water, $68,330 1% Beginning Bal., Sewer, $59,742 5520,746,6% �1� Debt Issuance, Revitilization, Interest, $769 Misc., $58,961, $216,055,4% $110,696,2% 0� 1% Environmental, Grant, 593,750, Developer Interest, $113,411,2� 1� Agreement, 5120,000,2% $22,824,0% Canton TIF District 1/FY2012 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 Figure 3. Canton 1-Downtown/5th Avenue TIF District Total Revenue by Fiscal Year $8,000,000 $7,500,000 $7,000,000 $6,500,000 $6,000,000 $5,500,000 $5,000,000 '� r '�� ��u��.,°�,^ $4,500,000 ��'" $4,000,000 $3,500,000 $3,000,000 $2,500,000 � „���, $2,000,000 $1,500,000 $1,000,000 $500,000 $0 2005 2006 2007 2008 2009 2010 2011 2012 o RETI ■Interest ■Misc. u Debt Certificates Intergovernmental Agreements: NONE (Note that during FY2012, an agreement ivith Canton Union CUSD #66 zva.r pending apprnval regarding the HarUe.rter Inn, LLC project.rite only). Private Redevelo�ment Agreements: 1. Petersen Health Resources, Inc. (2005) 2. Crawford's Fashion Floors, Inc. (2007) 3. White Oak Tap, Inc. (2008) 4. Cook Canton Incorporated (2009) 5. Jon&Kunberly Newburn / American Grille Restaurant (2010) 6. Harvester Inn,LLC (2012) 7. Cook Canton Real Estate,LLC / PTFE Plant (2011) 8. Black Crow Candle Co. (2011) 9. Ronald Eric Matthews (2013) 10. Michelle Behymer/B-Designed Salon (2012) 11. Ipava State Bank (2012) Canton TIF District 1/FY2012 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 Canton 1—Downtown/5`''Avenue TIF District Redevelo�ment Project Area � ----_ � U '5 � �-r1'�41tT_S � �` p p I � � � p � +�VVW[5 u y , > 9 � C' � �.� '�f°�� v � Q p� yV $3 (� ' —�W li6-f— � � JSiuO 3I '� � �4! 4 � � iK ft� �a+rws_s_� �" � v � �Q�� ( Q 4 +�vIwx s _� � ��•� aE ��... � I wwv_s ul Y ��. u � N . �-__......a'MVY_N �s"VV1L-f—� —1 F c W g �`_.NVVSi_s-. � u �Y4N-N . . ?�tl.4N_N MV�W9_S I ih'.VW_���e f � G �-6Y5�� ��a., .Y[YS s r.� � .':� . :� �.,. , � ..:� r�h � _aH'.VU.: : ���M .�M�.W�_S r q - I I ". � �.�� .... _ ' x p 4 "d;. .unY.VW�_.. � � � � �F ^ ���.. 1 ; � �"�r"�� i � � ...' � ;_`__a�Yp,�'-N �;'��,3�r �U� I �tJ�, �. . � � ��i'� � ���� °y�.'g`k.��3� '`�� �rv�c s � — ��.� ��' �` �* ���'����� � �`:� a � ��.'�.t�` � � �,y�;� ��`;��r�, � "s � �rv�¢n . : ::. . �+^rr�t-s-- � . � ���� #Yw 4 �,�-��� ��x..x . �� �. ..., ... � ww.vwi # a Mwa� 4:rreiwu.ra�''�� c' s�r �s ;,����� � ,{���,;� # }g ? � -�c � �`�SV,��+� � ,:. �� � �:1� ,. �. tllRMN �. ' � . � } f . �} '�ti?# �k���wY,�� �M��k� z�A 1��� Z & [ � �" T' r�i wi'"—wi"a.. ;_ ,�o.+x.ws�3 #.� .. . � �: �. N, „ I � . , y, � - i5^eW N ...._ _......__._-_ �S�^uW_5�.... � � �:� � �,A{/� �" I }v:� �I � I� .. ��. .��Y�IM_—�.� �r Y�tl'�� � tl.�"/'S " � .q t ! a � I� I � . N.n�ooa+L sNU��nW, ; � 9 IYV— _Ba+VS .����—S1 —6a��.Vf—_ � � _ � t `� 3 � x x ,� 3 - � � � � ; �ua,�ml+.0 II G ,s� I 1 � 3 � ; i � � t` L,„,S o :- __ ,:.�N--—-- _€_:,�� � �a � ` "°�"�` 4 �. _»����� ,���i_1 �� � , � a:�: >>. � - � �� "`" � , � _ , £ � �W:�IF _ ¢ ____—�, �.. � � � , Canton TIF District 1/FY2012 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 . _ CITY OF CANTON �_,. � , Canton 1- Downtown/5th Ave. I Tax Increment Financing (TIF) District � FY 2013 Summary , 2 North Main Street,Canton,IL 61520 Ph:(309)647-0065 Harvester Inn Hotel,Canton TIF 1 Canton TIF District 1 - Facts & Stats for FY2013: Established.....................................................................................................................................................................2004 Ends......................................................................................................................................Tax Year 2027 Payable 2028 BaseTax Year................................................................................................................................................................2003 TIFBase EAV....................................................................................................................................................$5,148,444 TaxYear 2011 Net Taxable EAV.................................................................................................................$11,554,939 Tax Year 2011 RE Tax Increment......................................................................................................................$626,119 Total Obligations in TIF Plan as amended, FY2013.................................................................................$68,139,348 TotalExpenditures to Date............................................................................................................................$10,985,394 RemainingObligations....................................................................................................................................$57,153,954 Canton TIF District 1 — FY2013 Overview In 1983, International Harvester reported a $165 million loss and announced permanent closure of the Canton, Illinois plant. When the IH plant closed, more than 3,000 jobs were lost and the equivalent of 20 percent of Canton's population was suddenly out of work. In 2004, the Canton International Harue.rter Site Project Area Tax Increment Financzng Di.rtrict Kedevelo�ment 1'lan,Area and Project� was established to address the lack of new private investment and provide a mechanism for financing extensive enviYOnmental cleanup, site preparation and other eligible costs the Ciry would need to incur in order to redevelop the former IH site, the City's central business district and the adjacent 5rh Avenue Commercial Corridor. On November 22, 2011, the City approved the First Amendment to the Canton IH TIF District. This First � Amendment renamed the TIF District as Cantosz 1 —Doavntoavn/S�%<<lvenue TTF Di.rtrict("Canton TIF 1") and added projects and additional'TIF eligible pYOject costs to the redevelopment plan. On February 6, 2012, the City approved d�e Second Amendment to Canton TIF 1, thereby removing certain parcels from the redevelopment project area. Canton TIF District 1/FY2013 Summary prepared by Jacob&Klein,ltd.and The Economic Development Group,Ltd.(309)664-7777 The City has made significant commitments of time and money to address several of its goals and to encourage conservation and redevelopment of the Canton TIF 1 Redevelopment Project Area. In December of 2008, an emotional crowd of more than 1,000 residents listened to William "Bill" Cook, a native of Canton, announce plans to construct Cook Medical in 2010, a medical device manufacturing facility on a portion of the former International Harvester site that had received a "No Further Remediarion" letter from the IEPA.The construction of this 45,000 square foot facility,which will employee more than 300,represents a significant milestone for the Canton community. A second Cook facility to manufacture polytetrafluoroethylene (PTFE) tubing was constructed in 2012. Cook Medical as well as Cook's efforts to develop the Harvester Inn Hotel and purchase and renovate several aging buildings in downtown Canton, including the 1883 Randolph Building, has brought much needed momentum to the Ciry's economic development plan. These Projects have presented new,previously unforeseen opportuniries to redevelop the embattled Canton IH TIF District redevelopment project area. Based largely on the availability of new real estate tax increment resulting from the Cook improvements, the Ciry issued$7 million of Serie.r 2011 Debt Certific•ate.r on December 1, 2011 by pledging Canton TIF 1 funds for the annual debt service. The Debt Cerrificates were issued to refinance costs incurred for the cleanup and redevelopment of the IH site as well as additional public infrastructure improvements. Fiscal Year 2013 Activity For Fiscal Year 2013, (beginning May 1, 2012 and ending April 30, 2013), the Canton I Downtown/5�" Avenue TIF District Special Fund (the"TIF Fund") had a beginning balance of$2,588,310. With deposits in the amount of $660,090, the total amount available in the TIF Fund during FY2013 was $3,248,400. Sources of funds included: Real Estate Tax Increment ($626,119); Interest Income ($2,299); Transfers/Grants ($30,462); and Miscellaneous Income ($1,210) as depicted in Figure 1 below. The total public and private TIF eligible project costs expended from the TIF Fund during FY2013 amounted to $937,727 and included those categories of funds shown in Figure Zbelow. The ending balance of the Canton TIF District I Special Fund as of April 30, 2013, was $2,310,673. T'hese funds included $1,522,649 remaining in the Serie.r 2011 Debt Certificate.r sub-account. The real estate tax increment generated by Canton TIF District I for FY2014 is estimated to be$786,353. Figure 1. Canton 1-Downtown/5th Ave.TIF District Figure 2. Canton 1-Downtown/5th Ave.TIF District Revenues(FY2013) Expenditures(FY2013) Beginning Bal., Debt Interest, $2,588,330, $291,012,31% ✓_'-.tl����."'~ 80% Developer Agreement, $26,530,3% Environmental, $27,750,3% _�__� Site Prep, $1,178 0� Interest, Revitilization, $2,299,09�0 $9,315,1� Administrative Professional, Transfer/Grent Marketing, $434,481,46� Sao,a6z,i�e S��,aas,si Streets, Misc., $1,210, R.E.Tax $70,013 8% aq, Increment, $626,119,19% Canton TIF District 1/FY2013 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 Figure 3. Canton 1-Downtown/5th Avenue TIF District Total Revenue and Deposits by Fiscal Year $8,000,000 $7,500,000 $7,000,000 $6,500,000 $6,000,000 $5,500,000 $5,000,000 `� z � r �. � �. $4,500,000 q� �a��"��y���P�. $4�0�0��0� ��I�I��I�II�� V $3,500,000 $3,000,000 $2,500,000 ���K �g?.�.� $2,000,000 $1,500,000 $1,000,000 $500,000 $0 2005 2006 2007 2008 2009 2010 2011 2012 2013 o RETI 1i Interest ■Misc. v Debt Certificates Intergovernmental Agreements: NONE (Note hou�ever that during FI'2013, an agreement u�a.r jiending approval with Canton Union CUSD #66 re:Harue.cter Inn, LLC pmject.rite only�. Private Redevelo�ment Agreements: 1. Petexsen Health Resources, Inc. (2005) 2. Crawford's Fashion Floors, Inc. (2007) 3. White Oak Tap, Inc. (2008) 4. Cook Canton Incorporated (2009) 5. Jon&Kunberly Newburn / American Grille Restaurant (2010) 6. Harvester Inn,LLC (2012) 7. Cook Canton Real Estate,LLC / PTFE Plant (2011) 8. Black Crow Candle Co. (2011) 9. Ronald Eric Matthews (2013) 10. Michelle Behymer/B-Designed Salon (2012) 11. Ipava State Bank (2012) Canton TIF Distrid 1JFY2013 Summary prepared by lacob&Kiein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 Canton 1—Downtown/5`''Avenue TIF District Redevelo�ment Project Area � ---- 6 U G –ma,rr_s � �c� A � � C � � d €'+« O +�rvwr s ' ' 8 � C' 8 ^ � 4 ro ��� } � � � � � . °�' c3 3 —+.rwe-:_ 1 ttwn: � i � b , I � d � � � ° �.v,�.s_� a c �a� I � ., i ,. �..� ...�„, �:..:� � , � ��� � .��,_s � � t�- W � � . _.._...._aWVY_N �+iYV1L f—� � . .� I a �_.+m�w�s � �+1'VK-N � �"�— I .anY.4�9_N >N'.4'19-5 I . I >M'.VM_5 I S � �-6Y5�� -JL YS —aM'.4ri.... n"1'.Y4 N.. ..� . . ��� �. _ . II "i•Y.uN-5 a .Mevn�_ � � ;_.__xYp1.-N � . � , .. ��+ �� .+wac s � ..... t� `�' ;� ��,. : � &n� a �'��" X '��.,.„ � . � u�F. AT'MZ-N � 4�� ����.p �'�,_}'.��b h A �f �.f � �W/^�i-S___ . ��s�'„x � '`�� :� .�:���R,%, �,:h: ' F k4 x ��,�{�e', ,.!W�WinB�AS J���li - i.,� �.,A ��y��.�� V � R:� ���� p 4 r� a+r�rt H �w � '� � �,'��� � ���.�y ,. . �„�� ���� ,. �•� � N S 4 � �,* s � � �*� �'�4,�,��°, :. 2 . � i�,['A�3 "eM 3 "r _1Ja1�VM---' �4 } jj ����.�r�.S € k., .� �:a � }.,.�'� k y'u lk�.x T y y �. . '— lf^WYiN r . � - � d�, S�D ..n z� ..._. -_.....___ a5 ao1'I_S�... F ;' � I� ��, �� �� � IJA{�qy .k *#�' '.4 F"�;,'� $� , � �� � 3 �:,.�,� "L �'��.. �. f..�w � �� y;:� � ` �—� ��r;es� � .�_ � � � � �� �MUUIXY ; �:� .,,. �— —_r1 a«r.r— _e++vr � ����� —s;rs-- w � � � ' 3 d � � ; �� l� � W���{ ( � 3 � �I 3 � i ___"_ Jx.YN €_.]anYS l .JanfS oi . .N.�� ; 'P��`p' �` . N � � _,��a�� ��,1_1 � �n�.�„ �' —p,,«'� _� �(� � f _ � _ _ x � � t Canton TIF District 1/FY2013 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 I CITY OF CANTON � ; Canton 2 - Rt. 9/Chestnut St. 1 Tax Increment Financing (TIF) District ; i � FY 2013 Summary � � � ,�,�.� , 2 North Main Street,Canton,IL 61520 Ph:(309)647-0065 i Canton TIF District 2 - Facts & Stats for FY2013: Ii, Established.....................................................................................................................................................................2012 Ends......................................................................................................................................Tax Year 2035 Payable 2036 BaseTax Year................................................................................................................................................................2010 TIFBase EAV..................................................................................................................................................$14,168,556 Tax Year 2011 Net Taxable EAV.................................................................................................................$14,168,556 'Tax Year 2011 RE Tax Increment.................................................................................................................................$0 Total Obligations in TIF Plan as amended, FY2013.................................................................................$80,359,500 TotalExpenditures to Date..................................................................................................................................$100,790 RemainingObligations....................................................................................................................................$80,258,710 Canton TIF District 2— FY2013 Overview Established on February 6,2012, the Canton 2—Rt. 9/Chestnut Street TIF District("Canton TIF District 2") was established for the purpose of undertaking public and private redevelopment on underutilized commercial, residential and light industrial properues. By alleviating blighting conditions and addressing the lack of inadequate infrastructure, the Ciry hopes to attract new private investment that will that would not otherwise be reasonably expected to occur without the use of tax increment financing. Such redevelopment will help to incYease the population base of the community,increase employment opportunities, expand and diversify the local tax base and increase the overall qualiry of life for Canton area residents. On March 19, 2013, the City approved the First Amendment to the Canton TIF District 2. This First Amendment reduced the size of the Canton TIF 2 redevelopment project area (the "Area") by removing two (2) parcels of land and further documenting corrections for scrivener errors in the original legal description of the Area. As sripulated in the TIF Redevelopment Plan,the Cit��will declare twenry percent(20%) of the total gross real estate tax increment generated annually ��ithin the Canton 2 - Rt9/Chestnut Street TIF District as surplus Canton TIF District 2/FY2013 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 funds. For a portion of the Canton 2-Rt. 9/Chestnut Street TIF District Redevelopment Project Area defined as a Special Surplus Area,the City shall declare as surplus funds one hundred percent(100%)of gross real estate tax increment generated annually from the "natural growth" of the parcels located within the Special Surplus Area. "Natural growth"is defined as that portion of the annual real estate tax increment, if any, of real estate taxes which are attributable to the increase in the current equalized assessed valuarion of each taxable lot,block or tract or parcel of real property within the Special Surplus Area over and above the inirial equalized assessed value of each property in the Special Surplus Area. In the event any parcels within the Special Surplus Area are included in a Private Redevelopment Agreement at any time during the life of the TIF District,those parcels are temporarily exempt from this Special Surplus Area provision. Fiscal Year 2013 Activity For Fiscal Year 2013, (beginning May 1, 2012 Figure 1. Canton 2-Rt.9/Chestnut St.TIF District and ending April 30, 2013), the Canton 2 Rt. Expenditures(FY2013) 9/Chestnut St. District Special Tax Allocation Fund(the"TIF Fund'�had a beginning balance of$0. With deposits in the amount of$20,287, water Land System, the total amount available in the TIF Fund qcquisition, SS,000,a% during FY2013 was$20,287. Sources of funds $s,sao,15% included: Transfer Income from TIF 1 site Prep, ($20,280) and Interest Income ($7). Sz,t28,a9'o The total public and private TIF eligible project costs expended from the TIF Fund during FY2013 amounted to $56,353, as depicted in Figure 1. The ending balance of Canton TIF District 2 Special Tax Allocation Fund as of April 30, Professional, �ao,2ss, 2013 was a negative -$36,066. The real estate �ly,, tax increment generated by Canton TIF District 2 for FY2014 is estimated to be$88,658. Intergovernmental Agreements: 1. Canton Union CUSD #66 (2011) Private Redevelopment Agreements: 1. Canton Crop Service (�/1�/2012) Canton TIF District 2/FY2013 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 Canton 2—Rt. 9/Chestnut St.TIF District Redevelopment Project Area �� I .'_.w�.WOI N ., ..91U I' YaJx__ � � ` `�.. � __- � & �� ��� � 8 k< ,:�ww � F' ad���L ` � § j � d k aC �a 7� +�wwn N—�� � �.„ a �� �� ` i � , .°�� N �E g � � ws�N a "rwtr.H � y � I �b a' s - , � a,< m �a��,� E � —� I II � �� v 'u. r�� �.. �¢ ,�� .-+�rvnr n � . , r-� i � r � , 1 I �W � � a a l..s x_; � a s , � � ��-� � � _ N� NV.W[t N ��� � � / �Y.VifI-5 YQ � ary yipt f I5`�'o1 I �N 9uaduWl— . � M'IVb"5 I �' V A _ —.'y�� � ' ' I s r.n�.� �-� I �_1 q T � � a ,wwv_� —a— a ._.sW4Y_N�Ry ,� i � �-*• ri'.ylL S�� ' '_� � ���...iN'W9-N� �+ r� � I \').*•'1.4';! � dT .r +'wwr-s_�- � ..r.wn s-a-A �O g_I wa-x L u�� y i: � � I � -�i-�- .. � �,�.n. : �1 � � �-�-:1 �,�w � V�o N � aeI.NY S -�� n'YIWV-J �"a.V'+PI-l— +�Y _ � I � tt .� wY�6.N q �^1'Y�f-S � � • r I � a `y � � �� I�� � .��� ` � i �....� '� L' : W I � — _'_�_. ___ iw.tlR[.5.. . N A L�a.v'r.i_p , � a- _+aa�.x .... t � � -aa�u,..�m � �, $F I � rt�x� � \\ a•� } i , arwn '$�i � �s In.s� E � a I I �J ra..r,v '�-� � ^ r.ws � ' � �+rvmwW I �.. � � � ` s �. - ��s a i � a �_ ^ � � Bx�YN !,,�- �oaw. x ��_d..�.n � b a � �� \ � ; � � 9i 1 i �I 1 � I ` �r ;_ � � � f �.' 1 l � g_ �__a I , >>^.w-� �p � Ja�rf ' .�� i �� zI � � � s—I l��1 � I � �� �re�'n� F� � t .F�%�� u�r+y_� _._�� � � �ows y�° \I 3 !�„NJ 3 ; , �; ��'" � �� °� � i `� - � ��-.,........, ��t ..s«vN ��,...f .-'-r_� e �'--'e�ws-� },`� --arvwawa .—! � _'-.._-�vt.'—Mox—_�� '_ y� � � �- \1 � i �,2 c � ,�aem\ + /�N("�_� �\ 3 � �Z � ``� �� / I� �-� �_.\ ta^d�\....-- --- s �{ ' - N 4are ' / � �I^� I / ���.•��� ..rH—i.+�ys I \y,— , � �.. --� `�_ , / : ' ,� ; � /`d � \ _ � � r~ � �\ i_. / :-- — -'_\ __. "T.aac.da�«3,�✓ .�...�..� � �__ � � . , : ;, y e �� � � ;� . fftlJN— �j _PtlN+��'N.� / I �' � eTJ L'�°---°--..�.�.�. �m �d ` < 1 ~� , Canton TIF District 2/FY2013 Summary prepared by Jacob&Ktein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 Canton 2-Rt. 9/Chestnut St. TIF District Suecial Sur�lus Area within the Redevelo�ment Project Area 4 � _ _�_•v.woz N ( I � -sn �� y � �IYJN. (F/-]� N i� � a h N� tT �1 "�, � � m . � � 8g �£���a � (� � C3� � � �ron� u �� � Ua � �y � � � � ����3 � ' � q � p Y� �aie�.w�r_�_�� �k.r�..�:� !'.... . � R7 ap C �i� � {I . � cn .. � N�+ {L'{ I I \ `� �.,. y � O � �` '& ' �'NWfI M-��g-MYYIS!M art�� � I Ly � �Cry Q il'P i � V� �� y� ;�—� � � � �� s � „ �..,. � .�wn � v � l.�� � � :.� I ' a �n a � ,.. k � a s�__ :: ..__�*�vWr,H �� i��-�_� �� ;. _ C w..._�u , a�C4�tt-S � -I .4WI_N Uao�far . �, Nr����� � --I � . �S- +'YVS x...� � +Mil6 SS 9'.h'� II U . �-� � �NB_ � u � � I . -�*+Y.VY_n q . �y ��� +W.!4L S �% Q 'w �� y.�_�1 ,� .�.�_�_�_� � I � I e �<,�s_ _x y_a�r.WS-N 4 D'q'W...._ � 'e�� � , d ��-�'ti.. , ,�r I„ � , � I � �. anI.ND S W a 'a`+}-` a -awvw.; 3,-'"rm_c— � $ � w DI � � n` +�ro4 N �� `E'. . a^vaq.sl Q .Q �__.� E � � � � �wr� � I � � � I L�+vn�_x � � «w�s � I .. 1 j� �_�I � awar x W a _... � + r, I I -tl�fwr a�YUI r a *. � l,�" . , .. ,", I � b ��� I uus ' � r�YN ' ti � aw.v s ...._� � ,,,. . p�NM � � '!rM,� _ � i I a ,, _� � � _ �„�, � � ./.w� ,.�i" � � E' � � • ru-�� I �aMrs ` �.J-_u..,�rs S � �� 3 f � I � �� � � $ � �•.. � ��..� �� �_�---i+ �_-'�' �> ' ` s . ;_ I 3 I YM Q �R � JanYS ' 'j�� I � � ;_ �� i �/ I s—�� I � � l�`; s �9�--�� ���.-- i��,�.�_� I " h I I s� f I . � . i..rkJ 3 � �i 3�T—aw \'"i � �..a„�,o, _-�°1-�~•I � �--I,y,=_� qll . _��1••bmN--�.. __- �� I �l a� A i -��a�, 1 //�-� �... �� �-� \ � t� Z ._��.�.k�''r"..._ _.—/ � /� i__; \ � 'YIMIN_I.uYT� \ \\�� / �_._ .__,--; � �� / : �;_ � � � � %� � ;--- , \° � j _ ' :..�_..--; -� / ,�— — � _`-- `s � o /`� Tb.,`.�.,"' ! __ � � � � ! � s 1 0 4� � N I � �.� �---��;--� [(tlJN— � ._PYIOSnGH_N� .���•.��..��.���' j`� 1 � �• �I /� `�/ � r !w � i p �g � =:i Canton TIF District 2/FY2013 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 CITY OF CANTON TIF DISTRICTS SUMMARY OF REDEVELOPMENT AGREEMENTS AS OF 8/16/13 Total Remaining Total Eligible Total Eligible Reimbursed Balance of Project Cost Cap Costs Verified to Date Verified Costs Canton 1-Downtown/5th Avenue Canton Harvester Inn $250,000.00 $250,000.00 $0.00 $250,000.00 Cook Canton, Inc. (Cook Medical) $0.00 $0.00 $0.00 $0.00 Cook Canton Real Estate LLC(PTFE Plant) $1,418,472.00 $657,524.37 $0.00 $657,524.37 Crawford's Fashion Floors $0.00 $0.00 $0.00 IPAVA State Bank $150,000.00 $150,000.00 $1,161.07 $148,838.93 Jon & Kimberley Newburn (American Grille) $133,300.00 $133,300.00 $17,431.38 $115,868.62 K.Janssen &S. Franzoni (Black Crowe Candle Co.)- Loan $21,000.00 $21,000.00 $21,000.00 $0.00 Michelle Behymer(B-Designed Salon)- Loan $700.00 $700.00 $700.00 $0.00 Petersen Health Resources $0.00 $0.00 $0.00 $0.00 Ronald Eric Matthews-Loan $4,000.00 $0.00 $4,000.00 ($4,000.00) White Oak Tap, Inc. N/A $57,243.51 $5,528.59 $51,714.92 Canton 2-Rt 9/Chestnut St Canton Crop Service, Inc. $156,115.00 $0.00 $0.00 $0.00 Canton Crossings Corp. $1,175,000.00 $1,000,000.00 $0.00 $0.00 CITY OF CANTON TIF DISTRICTS NEW AGREEMENTS OR AMENDMENTS AS OF 2/7/14 Canton 1-Downtown/5th Avenue Approved Terms: Fuller's Jewelry 12/3/2013 $22,000 Loan @3%APR; 5 yr term Paige Edwards (Square Crafters) 1/7/2014 $4,970 grant w/5yr recapture Cook Real Estate, LLC(PTFE) First Amendment 1/21/2014 Revised/clarified parcel numbers Canton Union SD#66 IGA(Harvester Inn Amendment) 6/4/2013 Added Hotel parcels to IGA Canton 2-Rt 9/Chestnut St Approved Terms: East&EM Properties, LLC(Nick Orwig) 11/19/2013 $4,500 grant w/5yr recapture Stinauer Family Dentistry 12/3/2013 50%of Net RETI; NTE$175,000 H:�CANTON�CANTON 6ENERAL�Spreadsheets�Canton Developer Reimb Summary 081613 �� i CITY OF CANTON �� w IH Project Site Redevelopment Area � �` + Tax Increment Financing District �.� FY 2011 Summary 2 North Main Street,Canton, IL 61520 Ph:(309)647-0065 Canton I-H TIF District— FY2011 Overview _ Cook Medical,Canton,Illinois In 1983,International Harvester reported a$165 million loss and announced permanent closure of the Canton, Illinois plant. VUhen the IH plant closed, more than 3,000 jobs were lost and the equivalent of 20 percent of Canton's population was suddenly out of work. In 2004, the Canton International HarvesteY Site Project AYea Tax Increment Financing District Redevelopment Plan,Area and Projects was established to address the lack of new private investment and provide a mechanism for financing extensive environmental cleanup, site preparation and other eligible costs the City would need to incur in order to redevelop the former IH site,the City's central business district and the adjacent Fifth Avenue Commercial Corridor. Since the adoption of the Canton IH TIF District Redevelopment Plan in 2004, the City has made significant commitments of time and money to address several of its goals and to encourage conservation and redevelopment of the Area. The City of Canton has assisted several new projects since establishing the Canton IH TIF District,not the least of which includes Petersen Healthcare,American Gtille RestauYant,White Oaks Tap and Crawford's Home Furnishings. In December of 2008, an emotional crowd of more than 1,000 residents listened to William "Bill" Cook, a nauve of Canton, announce plans to construct Cook Meciical in 2010, a medical device manufacturing facility on a portion of the foYmer International Harvester site that had Yeceived a "No Further Remediation" letter from the IEPA. The construction of this 45,000 square foot facility, which will employee more than 300, represents a significant milestone for the Canton community�. A second Cook facility to manufacture polytetrafluoroethylene (PTFE) tubing is under construction and is expected to be completed in 2012. Cook Medical as well as Mr. Cook's efforts to purchase and renovate several aging buildings in downtown Canton, including the 1883 Randolph Building, has brought much needed momentum to the Ciry's economic development plan and presents new, previously unforeseen opportunities to redevelop the embattled Canton IH TIF District redevelopment pYOject area. For Fiscal Year 2011, (beginning May 1,2010 and ending Apri130,2011), the Canton I-H TIF District Special Fund (the"TIF Fund") had a beginning balance of$1,629,137. With deposits in the amount of $584,793, the total amount available in the TIF Fund during FY2011 was $2,213,930. Sources of funds included Real Estate Tax Increment ($192,273), Interest Income ($3,510), Transfer Income ($357,760), and Miscellaneous Income ($31,350) as depicted in Figure 1 below. The total public and private TIF eligible project costs expended from the TIF Fund during FY2011 amounted to $1,6)3,184 and included those categories of funds shown in Figure 2below. The ending balance of the Canton I-H TIF District Special I;und as of Apri130,2011,was $520,746. The real estate tax increment generated by Canton I-H TIF District for FY2012 and FY2013 is estimated to be$507,815 and $635,531,respectively. Canton IH TIF District/FY2011 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 Figure 1.Canton I-H TIF District Figure 2. Canton I-H TIF District Revenues(FY2011) Expenditures(FY2011) Site Prep, Beginning $328,247, Bal., 199'o Environmental $1,629,137, Transfers, , $72,025,4% 749�0 $421,634, 25% Interest, $120,000,7% Developer Agreement, $1,766,0% Fencing, $7,210,1% Administrative Professional, Interest, $165,909, $3,510,0% 10% Misc., R.E.Tax Streets, $576,393, $31,250,1� Transfers, Increment, 34% $192,273,9�Yo $357,760, 163'0 Canton IH TIF District Facts FY2011 Established.....................................................................................................................................................................2004 Ends......................................................................................................................................Tax Year 2027 Payable 2028 BaseTax Year................................................................................................................................................................2003 TIFBase EAV....................................................................................................................................................$5,148,444 TaxYear 2009 Net Taxable EAV...................................................................................................................$7,241,328 TaxYear 2009 RE Tax Increment......................................................................................................................$192,273 TotalObligations in TIF Plan..........................................................................................................................$9,360,543 TotalExpenditures to Date..............................................................................................................................$4,454,616 RemainingObligations......................................................................................................................................$4,905,927 Figure 3. Canton IH TIF District Total Revenue by Fiscal Year $4,500,000 $4,000,000 $3,500,000 $3,000,000 "� 1 52�5������ �£° ��°���a° $2,000,000 $1,500,000 $1,000,000 $500,000 $0 2005 o RETP��Interes���■Misc. i��ebt Certiticates 2010 2011 Canton IH Tif District/FY2011 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309�664-7777 Intergovernmental Agreements• NONE Private Redevelo�ment Agreements• 1. Petersen Health Resources, Inc. (2005) 2. Crawford's Fashion Flooxs, Inc. (2007) 3. White Oak Tap, Inc. (2008) 4. Cook Canton Incorporated (2009) 5. Jon&Kimberly Newburn /American Grille Restaurant (2010) 6. Harvester Inn,LLC �pendin� 7. Cook Canton Real Estate,LLC / PTFE Plant �pendin� 8. Black Crow Candle Co. (pendin� Canton IH Site Redevelopment Project Area: _, � � ,.,.� -i �', � , ;,: �_.+ - �Y ��.�� � 1: �� �-� � � �.r .._.... �i :�:: � —N� �' !��� ' �i �� .. �Mwr�. .. �...�,._..` , Nf ' ,�:. sk .-._, ; ,�l�r�fi �r ���r ,i_ � � ( ; „_� .. 1i �r•N �� I i ���. . , ... ^.,. . } ... ' . ri..... <,.e , _�. , ..�. Canton IH TIF District/FY20115ummary prepared by Jacob&Kleio,Ltd.and The Economic Development Group,ltd.(309)664-7777 NOTES: Canton IH TIF District/FY2011 Summary prepared by Jacob&Kiein,Ltd.and The Economic Development Group,Ltd.(309�664-7777 CITY OF CANTON 4-A Tax Increment Financing District . ., , . FY 2012 Summary ` ` ;� �g�; �:� ' 2 North Main Street,Canton,IL 61520 Ph:(309)647-0065 Canton TIF District— FY2012 Overview Established in 1987, the Canton 4-A TIF District Redevelopment Project Area (the "Area") includes commercial and light industrial areas adjacent to Enterprise Drive. This TIF District expired in FY2012 on December 31,2011. � For FY2012, (beginning May 1, 2011 and ending April 30, 2012), the Canton 4-A TIF District Special Tax Allocation Fund (the "TIF Fund") had a beginning balance of$156,263. With deposits in the amount of $37,764, the total amount available in the TIF Fund during �'2012 was $194,027. Sources of funds included: Real Estate Tax Increment ($35,236) and Interest Income ($2,528) as depicted in Figure 1 below. The total public and private TIF eligible project costs expended from the TIF Fund during FY2012 amounted to$194,027,as depicted in Figure 2below. Figure 1. Canton 4-A TIF District Figure 2. Canton 4-A TIF District Revenues(FY2012) Expenditures(FY2012) Beginning Bal., Water, $156,263, $3,333,2� 81% Professional, <���'k� $1,250,1% Transfer, $2,528,1% Streets, R.E.Tax $189,444, Increment, 97� $35,236, 18% Canton 4-A TIF District/FY2012 Summary prepared by lamb&Klein,Ltd.and The Economic Development Grouq Ltd.(309)664-7777 Canton 4-A TIF District Facts, FY2012 Established.....................................................................................................................................................................1987 Ends......................................................................................................................................Tax Year 2010 Payable 2011 BaseTax Year................................................................................................................................................................1985 TIFBase EAV........................................................................................................................................................$149,220 TaxYr. 2010 Net Taxable EAV..........................................................................................................................$456,000 TaxYr. 2010 RE Tax Increment...........................................................................................................................$35,236 Total Obligations in TIF Plan........................................................................................................................$44,711,000 TotalExpenditures to Date..............................................................................................................................$1,002,752 RemainingObligations....................................................................................................................................$43,708,248 Figure 3. Canton 4-A TIF District Revenue by Fiscal Year $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 198a 1999 �� 20p1 �002 2op3 20� �00� �� 2�� �opa 20� �010 2011 2012 ■RETI ■Utility u Interest ■Other Canton 4-A TIF District/fY2012 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 Intergovernmental Agreements• NONE Redevelopment Agteements• 1. Illinois River Correctional Center (not active) 2. Aldi, Inc. (not active) 3. Joseph Company (not active) Canton 4-A Industrial Park TIF District Boundary Man � .� I� � C�C�OD�CJ . �. ,. �� � �� o . , ��D�Dao ���� f ,�� �' I � � l E�BG�O�� � �,, � -_ �ao� . ��� s �a . eoaaaa ��a � � �� o0 000� � � , � e � m '�° »ee� �� ���. . ._ �eei �� �, . . r�yr � ' Y 111 �u�� � W ��� WW�� � � mm000�� � . � .. � ma��oo�m � ' w WWL�IU�WW , +'^ w w Canton 4-A TIF District/FY2012 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 NOTES: Canton 4-A TIF District/FY2012 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 _ _. CITY OF CANTON 4-A Tax Increment Financing District FY 2011 Summary � .� :a; �� � �r 2 North Main Street,Canton, IL 61520 Ph:(309)647-0065 � � '���I�'��I I Canton TIF District— FY2011 Overview Established in 1987, the Canton 4-A TIF District Redevelopment Project Area (the "Area") includes commercial and light industrial areas adjacent to Enterprise Drive. For Fiscal Year 2011, (beginning May 1, 2010 and ending April 30, ; 2011),the Canton 4-A TIF District Special Fund(the"TIF Fund")had ' a beginning balance of $168,454. With deposits in the amount of $33,353, the total amount available in the TIF Fund during FY2011 was $201,807. SouYCes of funds included:Real Estate Tax Increment ($32,082) and Interest Income ($1,271) as depicted in Figure 1 below. The total public and private TIF eligible project costs expended from the TIF Fund during FY2011 amounted to$45,544,as depicted in Figure Zbelow. The ending balance of the Canton 4-A TIF District Special Fund as of April 30,2011,was $156,263. The real estate tax increment generated by Canton 4A TIF District for FY2012 (fmal year)is estimated to be$35,232. Figure 1. Canton 4-A TIF District Figure 2. Canton 4-A TIF District Revenues(FY2011) Expenditures(FY2011) Beginning Streets, Ba I., $36,447, $168,454, 80% 83�e Professional, $9,097,20% R.E.Tax Interest Increment, Income, $32,082, $1,271,1% 16� Canton 4-A TIF District/FY2011 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 Canton 4-A TIF District Facts, FY2011 Established.....................................................................................................................................................................1987 Ends......................................................................................................................................Tax Year 2010 Payable 2011 BaseTax Year................................................................................................................................................................1985 TIFBase EAV........................................................................................................................................................$149,220 Tax Year 2009 Net Taxable EAV.......................................................................................................................$432,800 Tax Year 2009 RE Tax Increment........................................................................................................................$32,082 Total Obligations in TIF Plan........................................................................................................................$44,711,000 TotalExpenditures to Date..................................................................................................................................$808,725 RemainingObligations....................................................................................................................................$43,902,275 Figure 3. Canton 4-A TIF District Revenue by Fiscal Year $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 19�'$_199g Z�p �Op1 2op2 1op3 2opA 200� .Lp06 2op'I 2op8 2op9 yo10 2011 Y RETI ■Utility w Interest ■Other Canton 4-A TIF District/FY2011 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.�309)664-7777 Intergovernmental Agreements• NONE Redevelopment Agreements• 1. Illinois River Correctional Center (not acrive) 2. Aldi, Inc. (not active) 3. Joseph Company (not active) Canton 4-A Industrial Park TIF District Boundarv Ma.�• Q . :� f � �'I., ►� -�.,. �C��D�C� � .� . ,�� � e�c�o�aao � � � ;�M � 1AACT E 1AAC1 A � � ��Cl�� Q � � twW J nMCr� � + � �^�._ �a�� s �a � � eddaos Qa ' �� �0 Od�� � nact a Qeei �, m , ���. � �a�eei �, - . .w� 1� � ��� ���� �y . ,r' �� � ���W�� rr � � �W���� . � ~ WW�W��W � �.�r �r Canton 4-A TIF District/FY20115ummary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777 NOTES: Canton 4-A TIF District/FY2011 Summary prepared by Jacob&Klein,Ltd.and The Economic Development Group,Ltd.(309)664-7777