january 10th, 2019 tif joint review board review of tif ... · tif two - document corrections...

January 10th, 2019

TIF Joint Review BoardReview of TIF Activities

TIF District Two

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

TIF Two - Boundary Amendment

Boundary amended November 28th 2016

Returned approximately $1.5MM EAV to general tax base

TIF Two - Boundary Amendment

Bro

adw

ayB

road

way

Green

Illinois

Washington

Main

Philo

University

Vin

e

Urb

ana

Map

le

Rac

e

Church

Fairview

Elm

Birc

h

Orc

hard

Cun

ning

ham

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

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

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

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

TIF Two - Incentives

Ashar African Grocery (510 N Cunningham)

$3,000

TIF Two - Agreements

Patel Law (108 W University) - $5,948

TIF Two - Agreements

Five Points Northwest (Gateway Shoppes) - $155,455

TIF Two - Infrastructure

Boneyard Creek Crossing & Race / Broadway Streetscapes $928,778

TIF Two - Upcoming Activities

OSF Clinic (502 N Cunningham) $1,085,000

TIF District Four

TIF Four - Document Corrections

Section 3.2A #4: Soccer Planet Incentives $45,462

TIF Four - Overview


Beginning Balance: $ 2,082,484Revenues FY17-18: $ 1,209,986Expenditures FY17-18: $ 1,209,088End Balance: $ 1,903,382

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

TIF Four - Expenditures

Redevelopment Incentives: $255,128Public Works and Improvements $745,242Personnel Services $147,212Legal / Marketing / Promotion $805Vocational Payments $90,701

TIF Four - Agreements

Frasca International (906 Airport Rd) - $0


O’Brien Autopark (1111 Napleton Dr) - $94,772


Creative Thermal Solutions (2209 County Rd) - $84,894


Soccer Planet (2310 N Willow Rd) $45,562

TIF Four - Infrastructure

Airport Road Reconstruction $635,220

TIF Four - Upcoming Projects

JX Enterprises (2408 N Cunningham)

Central Redevelopment Area

Central TIF- Overview


Beginning Balance: $ 220,458Revenues FY17-18: $ 75,891Expenditures FY17-18: $ 293,164End Balance: $ 3,184

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

Central TIF- Expenditures

Development Incentives $57,488Development Agreements $126,794Infrastructure $7,991Personnel Services $3,994Legal / Marketing / Promotion $849UBA / Public Art $95,103Site Prep $945

Zealous206 W Main St [co][lab]

$1,000

Vanilja Development Studio206 W Main St [co][lab]

$3,000

Central TIF- Reimbursements

SIPYARD206 W Main St

$2,000

See You CD and Vinyl208 W Main St

$3,000


Power 102 Jamz202 S Broadway Ave IMC

$3,000

Coffee and Cogs123 W Main St

$3,000


Cradle Media123 W Main St

$3,000

Protagonist Pizza123 W Main St

$3,000


Hybrid Performance arts201 Lincoln Square

$3,000

Spark Museum and Play Cafe 201 Lincoln Square

$3,000


King Kuma401 N Broadway

$3,000


Sunny’s401 N Broadway

$3,000

La Royale401 N Broadway

$3,000

Urbana Dance Company311 W Elm

$2,000



Candie Kates Photography122 W Main St

$2,000


A Plus VIP (214 W Main St) - $12,728


World Harvest (306 W Springfield) - $4,588


25 O’Clock Brewery (208 W Griggs) - $28,000

Gill Building (401 N Vine) - $10,000

Central TIF - Reimbursements

Central TIF - Agreements

Cohen Building (136 W Main St) - $0


Crane Alley West (119 W Main St) - $47,719


Analog (129 N Race) - $13,424

Broadway Market (401 N Broadway) - $24,922


Central TIF - Infrastructure

Broadway and Water Mini-Park - $7,991

What’s In Your Square?

Central TIF- Upcoming Activities


200 S Vine

VINE ST BREEZEWAY

Urbana Arts


Sitara


KRTCentral TIF- Upcoming Activities

Washington School

Crystal Lake Park & Carle Campus Adjacent

Washington School

Culver’s


TIF One

TIF One - Overview

Dissolved October 6, 2016

Beginning Balance: $ 217,328Revenues FY16-17: $ 1,532Expenditures FY16-17: $ 139,083End Balance: $ 79,777

TIF One - Post ClosureRemaining obligations - Stephens Building

Remaining funds surplussed in FY16-17 in accordance with TIF Act

TIF One - Agreements

Stephens Building (218 W Main) - $139,083

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

THANK YOU

january 10th, 2019 tif joint review board review of tif ... · tif two - document corrections...

Documents