TIF Annual Report 2015SECTION 3.1 -(65 ILCS 5/11-74.4-5 (d) (5) and 65 ILCS 5/11-74.6-22 (d) (5))
Provide an analysis of the special tax allocation fund.
FY 2015
TIF NAME: Oak Brook TIF No. 1
Fund Balance at Beginning of Reporting Period IS 228,557 I
Revenue/Cash Receipts Deposited in Fund During Reporting FY: Reporting Year Cumulative* % of Total
Property Tax Increment s 325,654 s 2,778,052
State Sales Tax Increment
Local Sales Tax Increment s 98,822 s 564,545
State Utility Tax Increment
Local Utility Tax Increment
Interest s 40 s 2,492
Land/Building Sale Proceeds
Bond Proceeds
Transfers from Municipal Sources
Private Sources
Other (identify source · if multiple other sources, attach
schedule)
*must be completed where current or prior
year(s) have reported funds
Total Amount Deposited in Special Tax Allocation
Fund During Reporting Period
Cumulative Total Revenues/Cash Receipts
IS 424,516 I
Is
Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) L..l _s ___ 4_22_,_86_2~1
Distribution of Surplus
Total Expenditures/Disbursements L..I _S ___ 4_22...;.,_86_2~1
NET INCOME/CASH RECEIPTS OVER/(UNDER) CASH DISBURSEMENTS ..... I s ___ .....,1,_65_4~1
FUND BALANCE, END OF REPORTING PERIOD* ~I s ___ 2_30_,_21_1-I
* if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
SURPLUS*/(DEFICIT)(Carried forward from Section 3.3) Is (3,422,052)1
3,345,089 I
83%
0%
17%
0%
0%
0%
0%
0%
0%
0%
0%
100%1
SECTION 3.2 A-(65 ILCS 5/11-74.4-5 (d) (5) and 65 ILCS 5/11-74.6-22 (d) (5))
FY 2015
TIF NAME: Oak Brook TIF No. 1
ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND
(by category of permissible redevelopment cost, amounts expended during reporting period)
FOR AMOUNTS >$10,000 SECTION 3.2 B MUST BE COMPLETED
Category of Permissible Redevelopment Cost [65 ILCS 5/11-74.4-3 (q) and 65 ILCS 5/11-74.6-
10 (o)] Amounts Reporting Fiscal Year
1. Costs of studies, administration and professional services-Subsections (q)(1) and (o) (1) .· -i• . -.
Professional and administative services 3,975 ' . . ·.· ..
i' . " •.•
,. :•,'' -, ·._.: i :
/ •; : "' ,!' --:· .
.. ·: -~ / ' ··•:
-;-' ,--:,::·; ... ..
-. ';' ',i:~ :, " -
$ 3,975
2. Cost of marketing sites-Subsections (q)(1.6) and (o)(1.6) ... ·· ' : . · .. , ---..•... ,·, __ ,' ·,
.:, ·•:--.. ',\• ... :, .
:, .. :>:'-'·· ;;· :·;c :•-•;
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,. ·"'; '• ">• ,,_:,• •' -, .
,:•-\! \ >J-: _: •. ,;,.
; :;:;.:;;_.._::;;{; :.c_<Jh•c: ,:,.
\ :.: /. .. _·-:: •> --
$ -
3.Property assembly: property acquisition, building demolition, site preparation and environmental . '. . ., .•. -.. -.'· J'(',,: {•;\
site improvement costs. Subsections (q)(2), (o)(2) and (o)(3) •' ,· ,' '
<--<•,,: ,•,' ... -'.·,·
-· ·:;.:; •. ;•: : -._ __:
. ,, :: ,,;y•s• .. , , . .
:;.,i \>' ,_r ,.,:-, '
.• .. '',"•; ... -ii•.: .• ;
'·) ;::'·.:, ··,:iS-.. ,.
-· •. _!_;-., -_;-_.,; ·-· $ -
I4.vOscs OT renao11nauon, reconsirucuon, repair or remoae11ng OT exIsung puo11c or pnvace ou11a1ngs. , . ·_ ·.•,: .. )}2(. ; . -'· . Subsection (q)(3) and (o)(4) ; ·-:. :_:,,,-_< -•-.. •.
, -;•. •<.' t>:·_i/;":.•.: • ,'.cC_·,,_:_; •
> J•.• ,,·,.1,-·,;:crc.~.:··· ,>' __
;_''.~;,-;,-_• ... ,~,---, '"; ..
. -:f ';, .. \;'··, •; ;->
,<,,:.-·,-•.. _.-,.·-:-:•,:;,;: • -·->
i' -. ;. : .. -'".,;. ;:•,::: '-.':·.
$ -
5. Costs of construction of public works and improvements. Subsection (q)(4) and (o)(5) -> ' : '. •-;. ,•.'-;:.,. . ; .. -·
·-<>· "-;_.,.,;(, -<
_., i :_t'.'·i, .'·. i•fi> '.: ··-
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: ' ;'··:• •\\ '••··· ':
-.
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. ,:i . . -• .. •/:. -..
$ -
6.Costs of removing contaminants required by environmental laws or rules (0)(6) -Industrial Jobs
:ti
'... ,, '.
Recovery TIFs ONLY .
-:-· ·, . ·•··.·-' ;t_. ___ ,· •·; . . -· ·, · . -\' .. , · .
.. ' .. _., i ' i.
-' •· •'i. ,· . ·.· -· ·.
.... , >, ......
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-
$ -
SECTION 3.2 A
PAGE2
7. c.;ost of Job training and retraining, IncIuaing "welfare to work" programs Subsection (q)(S), (o)(7)
---and (o)(12) '
--.
: -
--', ' :
:. -·•
''
-
$ -
: --
a.Financing costs related to obligations issued by the municipality. Subsection (q) (6) and (o)(B) .
418,887 -. '
... :
,, .-_,', /,
---' '
: :· -·•
$ 418,887
9. Approved taxing district's capital costs. Subsection (q)(7) and (o)(9) : --------
.-_'
----. .,,,--_
'-, -
' ,:,:. ·--,_ ·:---
c :;; :-' . '
' ••
'(-,_
-'-,' •-: -,_
$ -
1 o. Cost of Reimbursing school districts for their increased costs caused by TIF assisted housing -
projects. Subsection (q)(7.5) -Tax Increment Allocation Redevelopment TIFs ONLY ,_
., -:
--.v, -,, --
-------_ ,, .,----
1,-_ -,,_ :,. ',--
: ' -
,_ -
---' ---
$ -
11. Relocation costs. Subsection (q)(B) and (o)(10) '
-. ', ,-,_,,,,' '' : "'
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: --•---------.. ->
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-' --_, -,-._ -, ' _,
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$ -
12.Payments in lieu of taxes as defined in Subsections 11-74.43{m) and 11-74.6-10(k). Subsection ' ->c
: :-.,_
(q)(9) and (o)(11) ----" ---_ -,
;
,_ ' ; ---·--ci,
-,,,
, ___
c ,,,
' ----
_:
$ -
113. 1,;osts or JOO training, retraining advanced vocational or career eaucatIon provIaea oy otner
taxing bodies. Subsection (q){10) and (o)(12) ---,-
'
-
--
---,
'
$ -
SECTION 3.2 A
PAGE 3
14. Costs of reimbursing private developers for interest expenses incurred on approved
redevelopment projects. Subsection (q)(11 )(A-E) and (o}(13}(A-E) -
-.
:
-: :-
" --
-
$ -
15. Costs of construction of new housing units for low income and very low-income households.
Subsection (q)(11 )(F) -Tax Increment Allocation Redevelopment TIFs ONLY
: --:· :
--. -,.-,· --
--. ---
..
---
:
-
-·
$ -
16. Cost of day care services and operational costs of day care centers. Subsection (q) (11.5) --:· -
Tax Increment Allocation Redevelopment TIFs ONLY ---
: .
:-'
-. ---: . -
--._ --
$. -
jTOTAL ITEMIZED EXPENDITURES 422,862 I
Section 3.2 B
FY 2015
TIF NAME: Oak Brook TIF No. 1
List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current
reporting year.
There were no vendors, including other municipal funds, paid in excess of
$10,000 during the current reporting period.
Name Service
1311 LLC Note Debt Service
Five Star Ventures Note Debt Service
Don Kurasch Note Debt Service
Ryan Murphy Note Debt Service
St Paul Fire and Marine Ins. Note Debt Service
Amount
$ 83,777.00
$ 20,944.00
$ 83,777.00
$ 20,944.00
$ 209,445.00
SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)]
FY 2015
TIF NAME: Oak Brook TIF No. 1
Provide a description of all property purchased by the municipality during the reporting fiscal year within the
redevelopment project area.
_X_ No property was acquired by the Municipality Within the Redevelopment Project Area
Property Acquired by the Municipality Within the Redevelopment Project Area
Property (1):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (2):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (3):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (4):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
SECTION 5 -65 ILCS 5/11-74.4-5 (d) (7) (G) and 65 ILCS 5/11-74.6-22 (d) (7) (G)
PAGE 1
FY 2015
TIF NAME: Oak Brook TIF No. 1
SECTION 5 PROVIDES PAGES 1-3 TO ACCOMMODATE UP TO 25 PROJECTS. PAGE 1 MUST BE INCLUDED WITH TIF
REPORT. PAGES 2-3 SHOULD BE INCLUDED ONLY IF PROJECTS ARE LISTED ON THESE PAGES
Check here if NO projects were undertaken by the Municipality Within the Redevelopment Project Area: ---
ENTER total number of projects undertaken by the Municipality Within the Redevelopment Project Area
and list them in detail below*.
Estimated Investment
for Subsequent Fiscal Total Estimated to
TOTAL: 11 /1 /99 to Date Year Complete Project
Private Investment Undertaken (See Instructions) $ 54,690,106 $ 2,500,000 $ 57,190,106
Public Investment Undertaken $ 150,000 $ 225,000 $ 4,250,000
Ratio of Private/Public Investment 364 3/5 1321/46
Project 1: *IF PROJECTS ARE LISTED NUMBER MUST BE ENTERED ABOVE
Promenade Retail Project
Private Investment Undertaken (See Instructions) $ 54,690,106 $ 2,500,000 $ 57,190,106
Public Investment Undertaken $ 150,000 $ 225,000 $ 4,250,000
Ratio of Private/Public Investment 364 3/5 1321/46
Project 2:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 3:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 4:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 5:
Private Investment Undertaken /See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 6:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Optional: Information in the following sections is not required by law, but would be helpful in evaluating the performance
of TIF in Illinois. *even though optional MUST be included as part of complete TIF report
SECTION 6
FY 2015
TIF NAME: Oak Brook TIF No. 1
Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area
Year redevelopment
project area was
designated
20osl $
Base EAV
Reporting Fiscal Year
EAV
6,604,760 1 s 13,330,230 1
List all overlapping tax districts in the redevelopment project area.
If overlapping taxing district received a surplus, list the surplus.
_X_ The overlapping taxing districts did not receive a surplus.
Surplus Distributed trom redevelopment
Overlapping Taxing District project area to overlapping districts
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
SECTION 7
Provide information about job creation and retention
uescr1pt1on ana I ype
Number of Jobs Number of Jobs (Temporary or
Retained Created Permanent) of Jobs Total Salaries Paid
$
$
$
$
$
$
$
SECTION 8
Provide a general description of the redevelopment project area using only major boundaries:
Optional Documents Enclosed
Legal description of redevelopment project area
Map of District
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
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-
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Butterfield/Meyers Road TIF
I, Gopal G. Lalrnalani, the duly elected Village President of the Village of Oak Brook,
Counties of Cook and DuPage, State of Illinois, do hereby certify that to the best of my
knowledge, the Village complied with the requirements pertaining to the Illinois Tax Increment
Redevelopment Allocation Act during the fiscal year beginning January 1, 2015 and ending
Dec~, /7~.
~ t -6 -ol t? I 0
DATE
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAl( BROOK FISCAL YEAR
BEGINNING JANUARY I, 2015 AND ENDING DECEMBER 31, 2015
RE: Attorney Review TIF Compliance -Butterfield/Meyers Rel. TIF
To Whom it May Concent
This will confirm that I am the Vlllage Attomey for the Village of Oak Brook, Illinois, I have
reviewed all information provided to me by the Village, staff and consultants, and I find that the
Village of Oak Brook has conformed to all applicable requirements of the Illinois Tax Increment
Redevelopment Allocation Act set fofth thereunder for the fiscal year beginning Januaty l 1 2015
and ending December 3.\ 2015 to the best of my knowledge and belief.
Sincerer, 0; <;, '.
Stewart f)rtrfi~iii·-' -• /t//1
, · ,;-· • •·-
lJ UTTERFlELDIMEI'ERS IW. TJF ANNUAL REPORT FOR VILLAGE OF OAJ( BROOI( FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEMBER 31 1 2015
Attachment D.
A.
B.
Statement setting forth all activities undertaken in furtherance of the
objectives of the Redevelopment Plan, including:
Any project implemented during the reporting fiscal year; and
A description of the redevelopment activities undertaken.
The Village continued the review of the Oak Brook Promenade redevelopment project that was
undertaken in previous reporting Fiscal Years. The project includes a number of retail and
service tenants and activity in FY 2015 included the occupancy of a portion of the former Grotto
restaurant site with a Pizza Ban-a restaurant. Fusion Academy ( a private one on one learning
academy) occupied 6,000 square feet on the second floor and approximately 10,000 square feet
of space is vacant. The ARCO RE real estate group is actively marketing the remaining space for
occupancy.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2015 AND ENDING DECEkIBER 31, 2015
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
OF THE
VILLAGE OF OAK BROOK, ILLINOIS
.As of and for the Year Ended December 31, 2015
Prepared by the Finance Department
Sharon Dangles
Finance Director
~LLAGEOFOAKBROOK
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
As of December 31, 2015
Capital
Seecial Revenue Projects
Total
Nonmajor
Motor Fuel Foreign Fire Promenade Governmental
Tax Insurance TIF Funds
ASSETS
Cash and investments $ 1,215,112 $ 190,916 $ 230,211 $ 1,636,239
Receivables
Property taxes 325,700 325,700
Allotments 17,791 17,791
Accrued interest 2,553 2,553
Prepaid items 775 775
TOT AL ASSETS $ 1,235,456 $ 191,691 $ 555,911 $ 1,983,058
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Deferred Inflows of Resources
Deferred property taxes 325,700 325,700
Total Deferred Inflows of Resources 325,700 325,700
Fund Balances
Nonspendable for prepaid items 775 775
Restricted for highways and streets 1,235,456 1,235,456
Restricted for fire department 190,916 190,916
Restricted for economic development 230,211 230,211
Total Fund Balances 1,235,456 191 691 230,211 1,657,358
TOT AL LIABILITIES,
DEFERRED INFLOWS OF
RESOURCES, AND FUND
BALANCES $ 1,235,456 $ 191,691 $ 555,911 $ 1,983,058
Page 98
VILLAGE OF OAK BROOK
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
For the Year Ended December 31, 2015
Capital
Seecial Revenue Projects
Total
Nonmajor
Motor Fuel Foreign Fire Promenade Governmental
Tax Insurance TIF Funds
REVENUES
I nte rg overn mental $ 192,719 $ 50,684 $ 98,822 $ 342,225
Property taxes 325,654 325,654
Investment income 4 088 1 171 40 5,299
Total Revenues 196 807 51 855 424 516 673 178
EXPENDITURES
Current
General government 3,975 3,975
Public safety 121,478 121,478
Debt Service
Principal 119,913 119,913
Interest and fiscal charges 298,974 298,974
Total Expenditures 121 478 422,862 544 340
Excess (deficiency) of revenues over
expenditures 196 807 (69,623) 1 654 128.838
Net Change in Fund Balances 196,807 (69,623) 1,654 128,838
FUND BALANCES -Beginning of Year 1.038,649 261 314 228.557 1.528,520
FUND BALANCES -END OF YEAR $ 1,235,456 $ 191,691 $ 230,211 $ 1,657,358
Page 99