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TIF Projection Reports - Drexel Boulevard

This is a filtered view based on TIF Projection Reports.

Row numberTIF Reference NumberTIF NameReport GroupItemYearAmount ($ Dollars)End Date
1T-122Drexel BoulevardCurrent ObligationsJazz on the Boulevard RDA note payments2016-25000012/31/2026
2T-122Drexel BoulevardCurrent ObligationsJazz on the Boulevard RDA note payments2017-11200012/31/2026
3T-122Drexel BoulevardFund BalanceFY'12 year-end balance201318360012/31/2026
4T-122Drexel BoulevardCurrent ObligationsProgram administration2014-670012/31/2026
5T-122Drexel BoulevardCurrent ObligationsProgram administration2015-880012/31/2026
6T-122Drexel BoulevardCurrent ObligationsProgram administration2016-920012/31/2026
7T-122Drexel BoulevardCurrent ObligationsProgram administration2017-940012/31/2026
8T-122Drexel BoulevardFund BalanceRevenue recognition adjustment2013-7690012/31/2026
9T-122Drexel BoulevardRevenueProperty tax201329900012/31/2026
10T-122Drexel BoulevardRevenueProperty tax201428400012/31/2026
11T-122Drexel BoulevardRevenueProperty tax201526900012/31/2026
12T-122Drexel BoulevardRevenueProperty tax201626900012/31/2026
13T-122Drexel BoulevardRevenueProperty tax201726900012/31/2026
14T-122Drexel BoulevardCurrent ObligationsJazz on the Boulevard RDA note payments2013-35730012/31/2026
15T-122Drexel BoulevardCurrent ObligationsJazz on the Boulevard RDA note payments2014-25600012/31/2026
16T-122Drexel BoulevardCurrent ObligationsJazz on the Boulevard RDA note payments2015-25000012/31/2026
17T-122Drexel BoulevardFund BalanceEncumbrances through FY'122013012/31/2026
18T-122Drexel BoulevardCurrent ObligationsProgram administration2013-650012/31/2026

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created Apr 15, 2011

updated Oct 28, 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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