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TIF Projection Reports - Portage Park

This is a filtered view based on TIF Projection Reports.

Row numberTIF Reference NumberTIF NameReport GroupItemYearAmount ($ Dollars)End Date
1T-058Portage ParkCurrent ObligationsProgram administration2013-4330009/09/2021
2T-058Portage ParkProposed TransfersProposed transfer to Irving/Cicero (Debt service on bonds/notes)2013-22800009/09/2021
3T-058Portage ParkProposed TransfersProposed transfer from Irving/Cicero (Repay prior funds transfer)201522800009/09/2021
4T-058Portage ParkProposed ProjectsPark District IGA - Dickenson Park2013-5000009/09/2021
5T-058Portage ParkCurrent ObligationsSmall Business Improvement Fund2013-50000009/09/2021
6T-058Portage ParkCurrent ObligationsProgram administration2017-4950009/09/2021
7T-058Portage ParkCurrent ObligationsProgram administration2016-4820009/09/2021
8T-058Portage ParkCurrent ObligationsProgram administration2015-4600009/09/2021
9T-058Portage ParkCurrent ObligationsProgram administration2014-4010009/09/2021
10T-058Portage ParkCurrent ObligationsPark District IGA - Kilbourn Park2013-5000009/09/2021
11T-058Portage ParkCurrent ObligationsMenu reimbursement for street resurfacing2013-4300009/09/2021
12T-058Portage ParkCurrent ObligationsCPS ADA Ph.2 - Schurz2014-210000009/09/2021
13T-058Portage ParkCurrent ObligationsArterial street resurfacing - Addison, Knox to Keeler2013-57500009/09/2021
14T-058Portage ParkTransfers Between TIF DistrictsTransfer to Irving/Cicero (Small Business Improvement Fund)2013-25000009/09/2021
15T-058Portage ParkTransfers Between TIF DistrictsTransfer to Irving/Cicero (Market Study)2013-7500009/09/2021
16T-058Portage ParkRevenueProperty tax2017141000009/09/2021
17T-058Portage ParkRevenueProperty tax2016141000009/09/2021
18T-058Portage ParkRevenueProperty tax2015141000009/09/2021
19T-058Portage ParkRevenueProperty tax2014169900009/09/2021
20T-058Portage ParkRevenueProperty tax2013200500009/09/2021
21T-058Portage ParkFund BalanceRevenue recognition adjustment2013-37500009/09/2021
22T-058Portage ParkFund BalanceFY'12 year-end balance20131434670009/09/2021
23T-058Portage ParkFund BalanceFY'12 surplus returned in 20132013-93900009/09/2021
24T-058Portage ParkFund BalanceEncumbrances through FY'122013-416460009/09/2021


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created Apr 08, 2011

updated Oct 28, 2013

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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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