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TIF Projection Reports - 60th and Western

This is a filtered view based on TIF Projection Reports.

Row numberTIF Reference NumberTIF NameReport GroupItemYearAmount ($ Dollars)End Date
1T-00560th/WesternRevenueProperty tax201518900005/09/2019
2T-00560th/WesternRevenueProperty tax201618900005/09/2019
3T-00560th/WesternRevenueProperty tax201718900005/09/2019
4T-00560th/WesternTransfers Between TIF DistrictsTransfer to 63rd/Ashland (Hermitage Park)2013-40000005/09/2019
5T-00560th/WesternCurrent ObligationsEnglewood Trails feasibility study2013-19500005/09/2019
6T-00560th/WesternCurrent ObligationsProgram administration2013-720005/09/2019
7T-00560th/WesternCurrent ObligationsProgram administration2014-740005/09/2019
8T-00560th/WesternCurrent ObligationsProgram administration2015-890005/09/2019
9T-00560th/WesternCurrent ObligationsProgram administration2016-930005/09/2019
10T-00560th/WesternCurrent ObligationsProgram administration2017-950005/09/2019
11T-00560th/WesternProposed TransfersProposed transfer to 63rd/Ashland (Lindblom Park)2014-200000005/09/2019
12T-00560th/WesternRevenueProperty tax201420200005/09/2019
13T-00560th/WesternFund BalanceFY'12 year-end balance2013353020005/09/2019
14T-00560th/WesternFund BalanceRevenue recognition adjustment2013-380005/09/2019
15T-00560th/WesternRevenueProperty tax201321600005/09/2019
16T-00560th/WesternFund BalanceEncumbrances through FY'122013-15090005/09/2019

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created Apr 08, 2011

updated Nov 18, 2013

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Description

The Tax Increment Financing (TIF) Projection Report is a three-year planning document used to evaluate resources and project balances to determine how much funding has been committed and how much funding is available for potential projects in each of the City’s TIF districts. This report is updated with the latest available information and does not represent a final accounting of funds in any TIF district. Annual audited financial reports are found on the City’s website and are published once a year to reflect the balances and expenditures in each TIF fund. The TIF Projection Report provides estimates of TIF revenue and expenditures in each TIF district in the City of Chicago over a three-year period. Funding sources include: Unallocated Funds: Available funds at the beginning of the current year. This includes incremental property tax revenue from prior years. Revenue collected in the prior year is typically used to fund obligations in the current year. Some portion of prior-year collections may be used to fund obligations in subsequent years. Unallocated Bond/Note Proceeds: Available funds remaining from a bond sale or note issued to the City by a bank or other lender. Estimated Incremental Property Tax Revenue: Includes projected incremental property tax revenue collections for the current and subsequent two years. Estimates are based on recent equalized assessed values and tax rates and may be adjusted to reflect property tax collection patterns for a particular TIF. Transfers include: Transfers In: Funds that are transferred into a TIF district for a specific purpose from one or more adjacent TIF districts. Transfers Out: Funds that are transferred to one or more adjacent TIF districts for specific purposes. Current obligations items may include: Debt service payments on bonds or notes; payments to private developers pursuant to redevelopment agreements authorized by City Council; costs of public improvements; and costs of capital projects for overlapping taxing districts, such as the Board of Education or the Chicago Park District. The obligations may also include administrative costs that are incurred by the City for the implementation and administration of the Redevelopment Plan associated with each TIF. Potential projects include: Projects that are currently under consideration and which have not yet received necessary approval(s). In some cases, the dollar amounts listed reflect estimated project costs. As these projects take shape and move through the approval process, they are expected to become an obligation of the TIF.

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