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TIF Projection Reports - Midway Industrial Corridor

This is a filtered view based on TIF Projection Reports.

Row numberTIF Reference NumberTIF NameReport GroupItemYearAmount ($ Dollars)End Date
1T-089Midway Ind CorrTransfers Between TIF DistrictsTransfer to 51st/Archer (MSAC - Hernandez MS)2013-101660012/31/2024
2T-089Midway Ind CorrTransfers Between TIF DistrictsTransfer to 51st/Archer (MSAC - Hernandez MS)2014-103000012/31/2024
3T-089Midway Ind CorrRevenueProperty tax201790000012/31/2024
4T-089Midway Ind CorrRevenueProperty tax201690000012/31/2024
5T-089Midway Ind CorrRevenueProperty tax201590000012/31/2024
6T-089Midway Ind CorrRevenueProperty tax2014107400012/31/2024
7T-089Midway Ind CorrRevenueProperty tax2013125600012/31/2024
8T-089Midway Ind CorrFund BalanceRevenue recognition adjustment2013-7630012/31/2024
9T-089Midway Ind CorrFund BalanceFY'12 year-end balance2013447350012/31/2024
10T-089Midway Ind CorrFund BalanceEncumbrances through FY'122013-49530012/31/2024
11T-089Midway Ind CorrCurrent ObligationsProgram administration2013-2970012/31/2024
12T-089Midway Ind CorrCurrent ObligationsProgram administration2014-2790012/31/2024
13T-089Midway Ind CorrCurrent ObligationsProgram administration2015-3210012/31/2024
14T-089Midway Ind CorrCurrent ObligationsProgram administration2016-3360012/31/2024
15T-089Midway Ind CorrCurrent ObligationsProgram administration2017-3440012/31/2024
16T-089Midway Ind CorrCurrent ObligationsStreet resurfacing - 5200 block S. Kolmar2013-4630012/31/2024
17T-089Midway Ind CorrTransfers Between TIF DistrictsTransfer to 51st/Archer (MSAC - Hernandez MS)2017-119670012/31/2024
18T-089Midway Ind CorrCurrent ObligationsMSAC - Program administration2013012/31/2024
19T-089Midway Ind CorrTransfers Between TIF DistrictsTransfer to 51st/Archer (MSAC - Hernandez MS)2015-103020012/31/2024
20T-089Midway Ind CorrTransfers Between TIF DistrictsTransfer to 51st/Archer (MSAC - Hernandez MS)2016-116120012/31/2024

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created Apr 15, 2011

updated Nov 21, 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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