where is tif? what is tif? tif by size of municipality tif by size of municipality tif examples...

Where is TIF?Where is TIF?What is TIF?What is TIF? TIF by Size of Municipality

TIF by Size of Municipality

TIF ExamplesTIF Examples Future of TIF Future of TIF

Copyright 2011. The Economic Development Group, Ltd., 1701 Clearwater Avenue, Bloomington, Illinois. All rights reserved.

Downstate Economic Summit - 2011Vital Tools & Resources:Tax Increment Financing (TIF) in Illinois

Creating a Common VoiceCreating a Common VoiceThursday, September 29, 2011 / 9:30 a.m. – 4:30 p.m.

Thelma Keller Convention Center, Effingham, Illinois

Tax Increment Financing in IllinoisTax Increment Financing in Illinois2:00 p.m. Session2:00 p.m. Session

Steven Kline, PresidentThe Economic Development Group, Ltd.

1701 Clearwater AvenueBloomington, Illinois 61704Email: [email protected]

Ph: (309) 664-7777 / Fax: (309) 664-7878

andHerb Klein, PresidentJacob & Klein, Ltd.

925 Shooting Park Rd., Suite APeru, Illinois 61354

Email: [email protected]: 815-223-7550 / Fax: 815-223-7577

www.tifillinois.com

Where is TIF?Where is TIF?What is TIF?What is TIF? TIF by Size of Municipality

TIF by Size of Municipality

TIF ExamplesTIF Examples Future of TIF Future of TIF

TIF is an Economic Development ToolTIF is an Economic Development Tool Program of real estate tax

reimbursements. Signed into law in 1976. Some form of TIF in 49 States. More than 1,000 active TIF Districts in

Illinois with most formed by municipalities under the “TIF Act”:

65 ILCS 5/11-74.4 et .seq.


Downstate Economic Summit - 2011Vital Tools & Resources:Tax Increment Financing (TIF) in Illinois

TIF by Size of MunicipalityTIF by Size of Municipality

What is TIF?What is TIF? Where is TIF?Where is TIF? TIF ExamplesTIF Examples Future of TIFFuture of TIF

1,147 TIF Districts1,147 TIF Districtsin 88 Counties (June 2011)in 88 Counties (June 2011)

418 (36%) TIF Districts in Cook County.418 (36%) TIF Districts in Cook County.

137 (12%) TIF Districts in 5 Collar 137 (12%) TIF Districts in 5 Collar Counties.Counties.

69 (6%) TIF Districts in 6 Downstate 69 (6%) TIF Districts in 6 Downstate Adjacent Counties.Adjacent Counties.

523 (46%) TIF Districts in 76 Downstate 523 (46%) TIF Districts in 76 Downstate Counties.Counties.

SOURCE OF DATA: Office of Illinois State Comptroller, June 2011.SOURCE OF DATA: Office of Illinois State Comptroller, June 2011.

WINNEBAGO

DE KALB

GRUNDYKANKAKEE

KENDALL

BOONE

COOK

DUPAGE

LAKE

KANE

MCHENRY

WILL

Downstate Economic Summit - 2011

ADAMS

ALEXANDER

BOND

BROWN

BUREAU

CALHOUN

CARROLL

CASS

CHAMPAIGN

CHRISTIAN

CLARK

CLAYCLINTON

COLES

CRAWFORD

CUMBERLAND

DE WITT

DOUGLASEDGAR

EDWARDS

EFFINGHAM

FAYETTE

FORD

FRANKLIN

FULTON

GALLATIN

GREENE

HAMILTON

HANCOCK

HARDIN

HENDERSON

HENRY

IROQUOIS

JACKSON

JASPER

JEFFERSON

JERSEY

JOHNSON

KNOX

JO DAVIESS

LA SALLE

LAWRENCE

LEE

LIVINGSTON

LOGAN

MCDONOUGH

STEPHENSON

MCLEAN

MACON

MACOUPIN

MADISON

MARION

MARSHALL

MASON

MASSAC

MENARD

MERCER

MONROE

MONTGOMERY

MORGANMOULTRIE

OGLE

PEORIA

PERRY

PIATT

PIKE

POPE

PULASKI

PUTNAM

RANDOLPH

RICHLAND

ROCK ISLAND

ST. CLAIR

SALINE

SANGAMON

SCHUYLER

SCOTT

SHELBY

STARK

TAZEWELL

UNION

VERMILION

WABASH

WARREN

WASHINGTONWAYNE

WHITE

WHITESIDE

WILLIAMSON

WOODFORD


Vital Tools & Resources:Tax Increment Financing (TIF) in Illinois

PlaceholderPlaceholderPlaceholderPlaceholderPlaceholderPlaceholderTIF by Size of MunicipalityTIF by Size of Municipality PlaceholderPlaceholder



Percentage of Municipalities by Population Range with One or More TIF Districts, June 2011 .

SOURCE OF DATA: Office of Illinois State Comptroller, June 2011.


PlaceholderPlaceholderPlaceholderPlaceholderPlaceholderPlaceholderTIF by Size of MunicipalityTIF by Size of Municipality PlaceholderPlaceholder



Total Number of TIF Districts in Illinois by Municipal Population Range, June 2011.SOURCE OF DATA: Office of Illinois State Comptroller, June 2011.

683 TIF DistrictsIn towns of less than 25,000 pop. account for

60% of all TIF Districtsin Illinois.


TIF ExamplesTIF ExamplesWhere is TIF?Where is TIF?What is TIF?What is TIF?TIF by Size of MunicipalityTIF by Size of Municipality Future of TIFFuture of TIF



Illinois TIF Trivia:Illinois TIF Trivia: The largest City in Illinois, Chicago, had 159 Active TIF Districts on record with the Office

of Illinois State Comptroller in June, 2011.

The smallest Village in Illinois hosting 1 TIF District as of June, 2011, was the Village of Sauget, IL (pop. 159) located in St. Clair County.

Of Illinois’ 37 “Metro” Counties, each one is host to at least one TIF District – Cook County has the most with 418; followed by St. Clair County (62); and DuPage County (46).

TIF is present in 77% of Illinois’ 65 “Rural” Counties.

For Fiscal Year 2009, the Office of the State Comptroller reported the total Incremental Equalized Assessed Valuation of all TIF Districts in Illinois was $19,745,778,663 and total TIF Increment Extended was $1,201,493,830.


TIF ExamplesTIF ExamplesWhere is TIF?Where is TIF?What is TIF?What is TIF?TIF by Size of MunicipalityTIF by Size of Municipality Future of TIFFuture of TIF




Future of TIFFuture of TIFTIF by Size of MunicipalityTIF by Size of Municipality

Where is TIF?Where is TIF?What is TIF?What is TIF? TIF ExamplesTIF Examples

Industrial Warehousing - PetSmart, Otttawa, Illinois.



“The availability of tax increment financing was a vital tool the City used to bring this $30 million project and its 200+ jobs to the community." -- Mayor Robert Eschbach






Industrial Redevelopment - Former International Harvester Plant, Canton, Illinois.Industrial Redevelopment - Former International Harvester Plant, Canton, Illinois.

Plant Closed in 1983.

Plant Closed in 1983.

Canton lost 3,000 jobs.

Canton lost 3,000 jobs.






Manufacturing - Cook Medical, Canton, Illinois.Manufacturing - Cook Medical, Canton, Illinois.

Former International Harvester Site is being redeveloped in Canton, Illinois with help of TIF.

300+ New Jobs and Growing.






Commercial – Love’s Plaza, Utica, IllinoisCommercial – Love’s Plaza, Utica, Illinois

“Securing Love’s Travel Plaza with TIF increased the Village’s sales tax revenues dramatically, created employment opportunities, and allowed the Village to extend water and sewer utilities to the north side of I-80 for the first time. This utility extension has opened a large area for future commercial and industrial development. “ -Mayor Fred Esmond






Residential Development:Residential Development:

Glen Ridge West – Silvis, Illinois

Residential Development:Residential Development:

Ridgeview Subdivision – Cambridge, Illinois






Downtown Revitalization – Sullivan, IllinoisDowntown Revitalization – Sullivan, Illinois• 28 Downtown Façade Projects since 2005 have resulted in $717,000 of new investment leveraged on

$349,000 of TIF funding.

• 13 additional applications received for summer of 2011.






TIF Funds Used for Public Improvements TIF Funds Used for Public Improvements Heyworth, IllinoisHeyworth, Illinois

• $6.6 million of “BAB” Bonds were issued in 2010 to finance streets, sewer and water infrastructure improvements.

• Village pledged TIF Funds for repayment of the bonds and receives 35% of the total interest cost back from U.S. Treasury.


TIF ExamplesTIF Examples Future of TIFFuture of TIFTIF by Size of MunicipalityTIF by Size of Municipality

Where is TIF?Where is TIF?What is TIF?What is TIF?

SOURCE: Chicago Tribune, Tuesday, January 18, 2011

What should the future of TIF be in Illinois?

Senate Bill 540 will diminish your town’s ability to use TIF effectively.

Illinois needs competitive tools to attract new private investment and create jobs .

If we don’t use all of the tools available to us, someone else will.



SOURCE: Chicago Tribune, Wednesday, August 24, 2011


where is tif? what is tif? tif by size of municipality tif by size of municipality tif examples...

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