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||TIF Funding Sources and Uses by TIF, Fiscal Year, and Type||617 views|
Small Business Improvement Fund (SBIF) Grant Agreements
Small Business Improvement Fund (SBIF) program grants made since 2001. SBIF uses Tax Increment Financing (TIF) revenues to help owners of commercial and industrial properties within specific TIF districts to repair or remodel their facilities for their own business or on behalf of tenants. For more info, go to http://bit.ly/p91J7T.
||TIF Balances by Fiscal Year||286 views|
||TIF Status and Eligibility||389 views|
TIF Projection Reports
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: Fund Balance Available to Program: Includes property tax revenue, interest earnings, and miscellaneous revenue from prior years that remains after netting out previous project allocations. 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. Bond/Note Proceeds Available to Program: Funds remaining from a bond sale or note issued to the City by a bank or other lender after accounting for prior project allocations, which may be allocated to projects in the current year. 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.
||TIF Balance Sheets||4,087 views|
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