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created Apr 08, 2011

updated Nov 18, 2013

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The 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 routinely 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. Revenue items include: - FY Beginning cash balance – projected available funds at the beginning of the current fiscal year in each TIF. This includes uncommitted TIF funds from previous years and projected TIF revenue collections in the current fiscal year. - Estimated incremental property tax revenue – includes projected TIF revenue collections in each of the next two fiscal years (typically based on the previous year’s collection information). - Port – allowable per state law, these are funds that are shifted from one TIF to an adjoining TIF for specific projects (those projects are listed). Expenditure/cost items include: - Appropriated, committed, requested, or pending projects/costs to be funded with TIF resources in various stages of commitment and approval. - Appropriated: Projects for which funds have been approved and budgeted and for which funds are available to spend. - Committed: Projects that have been approved but for which funding has not yet been formally identified and/or approved. In some cases where dollar amounts are listed, those dollar amounts indicate an estimate of how much funding may be needed. - Pending: Projects that are currently under consideration but not yet approved. In some cases dollar amounts are listed that reflect estimated project costs. - Requested: Projects that have been listed based on discussions with outside parties. Estimated costs/funding have been identified for these projects. - Administrative costs – allowable per state law, these are costs incurred by the City related to the implementation and administration of TIF redevelopment plans, including but not limited to staff costs.

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