January 10th, 2019 TIF Joint Review Board Review of TIF ... · TIF Two - Document Corrections...
Transcript of January 10th, 2019 TIF Joint Review Board Review of TIF ... · TIF Two - Document Corrections...
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January 10th, 2019
TIF Joint Review BoardReview of TIF Activities
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TIF District Two
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TIF Two - Document Corrections
Section 3.2A #1: Personnel Services $122,909
Section 3.2A #4: 5 Points West Incentive $155,445
End Balance: $1,605,922
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TIF Two - Boundary Amendment
Boundary amended November 28th 2016
Returned approximately $1.5MM EAV to general tax base
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TIF Two - Boundary Amendment
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City of Urbana TIF One & Central TIF Districts
Central TIF TIF 2 TIF 4
Updated 12/12/2016
City of Urbana | urbanaillinois.us Page 1 of 2
Urbana’sDowntownTIFDistricts1&2
Urbana’s Economic Development Incentive Programs are primarily funded through our Tax Increment Financing Districts (TIFs). Both of Urbana’s Downtown TIFs facilitate investment in property, business activity, and the creation of new jobs. The TIFs also support the implementation of Urbana’s Downtown Plan, the Downtown Market Study, and the City’s Comprehensive Plan.
Dec-2012
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TIF Two - Overview
Expires December 31, 2022
Beginning Balance: $1,629,690Revenues FY17-18: $1,283,302Expenditures FY17-18: $1,307,070End Balance: $1,605,922
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TIF Two - EAV
2017 EAV = $16,108,510
-
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
19861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017
EAV 1986-2017
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TIF Two - Expenditures
Business Incentives $3,000Redevelopment Agreements $161,403Infrastructure $928,778Personnel Services $122,909Other Marketing/Promotions/Legal Services $150UBA Marketing Activities/Public Arts $21,638Transfer to Central TIF $69,192
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TIF Two - Incentives
Ashar African Grocery (510 N Cunningham)
$3,000
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TIF Two - Agreements
Patel Law (108 W University) - $5,948
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TIF Two - Agreements
Five Points Northwest (Gateway Shoppes) - $155,455
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TIF Two - Infrastructure
Boneyard Creek Crossing & Race / Broadway Streetscapes $928,778
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TIF Two - Upcoming Activities
OSF Clinic (502 N Cunningham) $1,085,000
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TIF District Four
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TIF Four - Document Corrections
Section 3.2A #4: Soccer Planet Incentives $45,462
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TIF Four - Overview
Expires December 31, 2025
Beginning Balance: $ 2,082,484Revenues FY17-18: $ 1,209,986Expenditures FY17-18: $ 1,209,088End Balance: $ 1,903,382
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TIF Four - EAV
2017 EAV = $16,027,600
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
EAV 2001 - 2017
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TIF Four - Expenditures
Redevelopment Incentives: $255,128Public Works and Improvements $745,242Personnel Services $147,212Legal / Marketing / Promotion $805Vocational Payments $90,701
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TIF Four - Agreements
Frasca International (906 Airport Rd) - $0
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TIF Four - Agreements
O’Brien Autopark (1111 Napleton Dr) - $94,772
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TIF Four - Agreements
Creative Thermal Solutions (2209 County Rd) - $84,894
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TIF Four - Agreements
Soccer Planet (2310 N Willow Rd) $45,562
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TIF Four - Infrastructure
Airport Road Reconstruction $635,220
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TIF Four - Upcoming Projects
JX Enterprises (2408 N Cunningham)
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Central Redevelopment Area
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Central TIF- Overview
Expires December 31, 2040
Beginning Balance: $ 220,458Revenues FY17-18: $ 75,891Expenditures FY17-18: $ 293,164End Balance: $ 3,184
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Central TIF- EAV
13,250,000
13,300,000
13,350,000
13,400,000
13,450,000
13,500,000
13,550,000
13,600,000
13,650,000
13,700,000
13,750,000
13,800,000
2016
2017
EAV 2016 - 2017
2017 EAV = $13,437,240
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Central TIF- Expenditures
Development Incentives $57,488Development Agreements $126,794Infrastructure $7,991Personnel Services $3,994Legal / Marketing / Promotion $849UBA / Public Art $95,103Site Prep $945
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Zealous206 W Main St [co][lab]
$1,000
Vanilja Development Studio206 W Main St [co][lab]
$3,000
Central TIF- Reimbursements
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SIPYARD206 W Main St
$2,000
See You CD and Vinyl208 W Main St
$3,000
Central TIF- Reimbursements
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Power 102 Jamz202 S Broadway Ave IMC
$3,000
Coffee and Cogs123 W Main St
$3,000
Central TIF- Reimbursements
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Cradle Media123 W Main St
$3,000
Protagonist Pizza123 W Main St
$3,000
Central TIF- Reimbursements
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Hybrid Performance arts201 Lincoln Square
$3,000
Spark Museum and Play Cafe 201 Lincoln Square
$3,000
Central TIF- Reimbursements
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King Kuma401 N Broadway
$3,000
Central TIF- Reimbursements
Sunny’s401 N Broadway
$3,000
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La Royale401 N Broadway
$3,000
Urbana Dance Company311 W Elm
$2,000
Central TIF- Reimbursements
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Central TIF- Reimbursements
Candie Kates Photography122 W Main St
$2,000
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Central TIF- Reimbursements
A Plus VIP (214 W Main St) - $12,728
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Central TIF- Reimbursements
World Harvest (306 W Springfield) - $4,588
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Central TIF- Reimbursements
25 O’Clock Brewery (208 W Griggs) - $28,000
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Gill Building (401 N Vine) - $10,000
Central TIF - Reimbursements
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Central TIF - Agreements
Cohen Building (136 W Main St) - $0
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Central TIF - Agreements
Crane Alley West (119 W Main St) - $47,719
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Central TIF - Agreements
Analog (129 N Race) - $13,424
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Broadway Market (401 N Broadway) - $24,922
Central TIF - Agreements
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Central TIF - Infrastructure
Broadway and Water Mini-Park - $7,991
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What’s In Your Square?
Central TIF- Upcoming Activities
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Central TIF- Upcoming Activities
200 S Vine
VINE ST BREEZEWAY
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Urbana Arts
Central TIF- Upcoming Activities
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Sitara
Central TIF- Upcoming Activities
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KRTCentral TIF- Upcoming Activities
Washington School
Crystal Lake Park & Carle Campus Adjacent
Washington School
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Culver’s
Central TIF- Upcoming Activities
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TIF One
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TIF One - Overview
Dissolved October 6, 2016
Beginning Balance: $ 217,328Revenues FY16-17: $ 1,532Expenditures FY16-17: $ 139,083End Balance: $ 79,777
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TIF One - Post ClosureRemaining obligations - Stephens Building
Remaining funds surplussed in FY16-17 in accordance with TIF Act
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TIF One - Agreements
Stephens Building (218 W Main) - $139,083
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TIF One - Surplus
Taxing District Surplus
Forest Preserve 2,489$
CU MTD 8,756$ Cunningham Township 5,660$ CU Health District 3,435$
Urbana Park District 32,096$ Champaign County 22,788$ Parkland College 14,348$
Urbana School District 157,215$ City of Urbana 35,606$
Suprlused: $282,393
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THANK YOU