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TIF Projection Reports - Read-Dunning

This is a filtered view based on TIF Projection Reports.

Row numberTIF Reference NumberTIF NameReport GroupItemYearAmount ($ Dollars)End Date
1T-036Read/DunningCurrent ObligationsRead-Dunning TIF Land Use Project2013-15000012/31/2015
2T-036Read/DunningCurrent ObligationsProgram administration2015-6490012/31/2015
3T-036Read/DunningCurrent ObligationsProgram administration2014-4970012/31/2015
4T-036Read/DunningCurrent ObligationsProgram administration2013-4840012/31/2015
5T-036Read/DunningCurrent ObligationsOpen Space Impact Fee reimbursement2013-21920012/31/2015
6T-036Read/DunningCurrent ObligationsMenu reimbursement for lighting2013-1150012/31/2015
7T-036Read/DunningRevenueProperty tax2015198500012/31/2015
8T-036Read/DunningRevenueProperty tax2014210900012/31/2015
9T-036Read/DunningRevenueProperty tax2013224000012/31/2015
10T-036Read/DunningFund BalanceRevenue recognition adjustment2013-43060012/31/2015
11T-036Read/DunningFund BalanceReserved for debt service2013-112670012/31/2015
12T-036Read/DunningFund BalanceFY'12 year-end balance20131090030012/31/2015
13T-036Read/DunningFund BalanceEncumbrances through FY'122013-92150012/31/2015
14T-036Read/DunningCurrent ObligationsSL Wright Campus RDA note payments2013-34650012/31/2015
15T-036Read/DunningCurrent ObligationsSmall Business Improvement Fund2013-50000012/31/2015
16T-036Read/DunningCurrent ObligationsStreet reconstruction - Oak Park Ave, Irving Park to Forest Preserve Dr.2013-530000012/31/2015
17T-036Read/DunningProposed ProjectsTIF Works Job Training2013-3000012/31/2015

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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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