===== PDF PAGE 3 ===== [Extraction: embedded PDF text] its final reimbursement, the fund transferred the remaining balance owed to the Public Benefit Fund in 2021, among other fund transfers. The ending fund balance was $892,750. Ms. Chrisse explained that there are some upcoming expenses that will be paid out in future years via the General Fund, which include six Façade Grants and a Retail & Restaurant Grant. As part of the TIF close out process, Mr. Guttman explained that the surplus distribution was sent to the County Clerk but have not yet been paid out to the applicable taxing bodies. 5. Public Comment. None. 6. Adjournment. The West Chicago Library District made a motion to adjourn, which was seconded by the West Chicago Fire Protection District. The motion carried unanimously via voice vote and the meeting adjourned at 2:44pm. Joint Review Board Meeting Minutes July 5, 2023 Page 2 of 2 ===== PDF PAGE 4 ===== [Extraction: OCR (rendered-page OCR)] FY 2022 ANNUAL TAX INCREMENT FINANCE REPORT SUSANA A. MENDOZA ILLINOIS STATE COMPTROLLER Name of Municipality: City of West Chicago Reporting Fiscal Year: 2022 County: DuPage Fiscal Year End: 12/31/2022 Unit Code: 022/115/30 , FY 2022 TIF Administrator Contact Information-Required | First Name: Kelley Last Name: Chrisse Address: 475 Main St Title: Economic Development Coordinator Telephone: 630-818-3331 City: West Chicago Zip: 60185 E-mail | attest to the best of my knowledge, that this FY 2022 report of the redevelopment project area(s) in the City/Village of: West Chicago is complete and accurate pursuant to Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] and or Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.]. Mle Che. 7.34433 Written signature of TIF Administrator Date Section 1 (65 ILCS 5/11-74.4-5 (d) (1.5) and 65 ILCS 5/11-74.6-22 (d) (1.5)*) FILL OUT ONE FOR EACH TIF DISTICT | Name of Redevelopment Project Area cessisihiin. maings aiates Peerless | MMI/DD/YYYY MM/DD/YYYY West Chicago Downtown Redevelopment Project Area 5/21/11 990 12/31/2021 8/2/2004 West Chicago Oliver Square Redevelopment Project Area West Chicago Roosevelt Road/Fabyan Parkway RPA 12/4/2017 [West Chicago Downtown TIF District No. 2 RPA — C =———— —>— = : a *All statutory citations refer to one of two sections of the Illinois Municipal Code: The Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] or the Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.] a ===== PDF PAGE 5 ===== [Extraction: embedded PDF text] SECTION 2 [Sections 2 through 8 must be completed for each redevelopment project area listed in Section 1.] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area Primary Use of Redevelopment Project Area*: District *Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. If "Combination/Mixed" List Component Types: Under which section of the Illinois Municipal Code was Redevelopment Project Area designated? (check one): Tax Increment Allocation Redevelopment Act X Industrial Jobs Recovery Law ______ Please utilize the information below to properly label the Attachments. No Yes For redevelopment projects beginning prior to FY 2022, were there any amendments, to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment (labeled Attachment A). For redevelopment projects beginning in or after FY 2022, were there any amendments, enactments or extensions to the X redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6- 22 (d) (1)] If yes, please enclose the amendment, enactment or extension, and a copy of the redevelopment plan (labeled Attachment A). Certification of the Chief Executive Officer of the municipality that the municipality has complied with all of the requirements of the Act during the preceding fiscal year. [65 ILCS 5/11-74.4-5 (d) (3) and 5/11-74.6-22 (d) (3)] X Please enclose the CEO Certification (labeled Attachment B). Opinion of legal counsel that municipality is in compliance with the Act. [65 ILCS 5/11-74.4-5 (d) (4) and 5/11-74.6-22 (d) (4)] Please enclose the Legal Counsel Opinion (labeled Attachment C). X Statement setting forth all activities undertaken in furtherance of the objectives of the redevelopment plan, including any project implemented and a description of the redevelopment activities. [65 ILCS 5/11-74.4-5 (d) (7) (A and B) and 5/11-74.6-22 (d) (7) (A X and B)] If yes, please enclose the Activities Statement (labled Attachment D). Were any agreements entered into by the municipality with regard to the disposition or redevelopment of any property within the redevelopment project area or the area within the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (7) (C) and 5/11-74.6-22 (d) X (7) (C)] If yes, please enclose the Agreement(s) (labeled Attachment E). Is there additional information on the use of all funds received under this Division and steps taken by the municipality to achieve the objectives of the redevelopment plan? [65 ILCS 5/11-74.4-5 (d) (7) (D) and 5/11-74.6-22 (d) (7) (D)] X If yes, please enclose the Additional Information (labeled Attachment F). Did the municipality's TIF advisors or consultants enter into contracts with entities or persons that have received or are receiving payments financed by tax increment revenues produced by the same TIF? [65 ILCS 5/11-74.4-5 (d) (7) (E) and 5/11-74.6-22 (d) (7) X (E)] If yes, please enclose the contract(s) or description of the contract(s) (labeled Attachment G). Were there any reports submitted to the municipality by the joint review board? [65 ILCS 5/11-74.4-5 (d) (7) (F) and 5/11-74.6-22 (d) (7) (F)] X If yes, please enclose the Joint Review Board Report (labeled Attachment H). Were any obligations issued by the municipality? [65 ILCS 5/11-74.4-5 (d) (8) (A) and 5/11-74.6-22 (d) (8) (A)] If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis X must be attached (labeled Attachment J). An analysis prepared by a financial advisor or underwriter, chosen by the municipality, setting forth the nature and term of obligation; projected debt service including required reserves and debt coverage; and actual debt service. [65 ILCS 5/11-74.4-5 (d) (8) (B) and 5/11-74.6-22 (d) (8) (B)] X If attachment I is yes, the Analysis and an accompanying letter from the municipality outlining the contractual relationship between the municipality and the financial advisor/underwriter MUST be attached (labeled Attachment J). Has a cumulative of $100,000 of TIF revenue been deposited into the special tax allocation fund? 65 ILCS 5/11-74.4-5 (d) (2) and 5/11-74.6-22 (d) (2) X If yes, please enclose Audited financial statements of the special tax allocation fund (labeled Attachment K). Cumulatively, have deposits of incremental taxes revenue equal to or greater than $100,000 been made into the special tax allocation fund? [65 ILCS 5/11-74.4-5 (d) (9) and 5/11-74.6-22 (d) (9)] If yes, the audit report shall contain a letter from the independent certified public accountant indicating compliance or X noncompliance with the requirements of subsection (q) of Section 11-74.4-3 (labeled Attachment L). A list of all intergovernmental agreements in effect to which the municipality is a part, and an accounting of any money transferred or received by the municipality during that fiscal year pursuant to those intergovernmental agreements. [65 ILCS 5/11-74.4-5 (d) X (10)] If yes, please enclose the list only, not actual agreements (labeled Attachment M). For redevelopment projects beginning in or after FY 2022, did the developer identify to the municipality a stated rate of return for each redevelopment project area? Stated rates of return required to be reported shall be independently verified by a third party chosen by the municipality. X If yes, please enclose evidence of third party verification, may be in the form of a letter from the third party (labeled Attachment N). ===== PDF PAGE 6 ===== [Extraction: embedded PDF text] SECTION 3.1 [65 ILCS 5/11-74.4-5 (d)(5)(a)(b)(d)) and (65 ILCS 5/11-74.6-22 (d) (5)(a)(b)(d)] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area Provide an analysis of the special tax allocation fund. Special Tax Allocation Fund Balance at Beginning of Reporting Period $ 892,750 Cumulative Revenue/Cash Totals of Receipts for SOURCE of Revenue/Cash Receipts: Revenue/Cash Current Receipts for life Reporting Year of TIF % of Total Property Tax Increment 0% State Sales Tax Increment 0% Local Sales Tax Increment 0% State Utility Tax Increment 0% Local Utility Tax Increment 0% Interest 0% Land/Building Sale Proceeds 0% Bond Proceeds 0% Transfers from Municipal Sources 0% Private Sources 0% Other (identify source ____________; if multiple other sources, attach schedule) 0% All Amount Deposited in Special Tax Allocation Fund $ - Cumulative Total Revenues/Cash Receipts $ - 0% Total Expenditures/Cash Disbursements (Carried forward from $ - Section 3.2) Transfers to Municipal Sources $ 511,380 Distribution of Surplus $ 381,370.00 Total Expenditures/Disbursements $ 892,750 Net/Income/Cash Receipts Over/(Under) Cash Disbursements $ (892,750) Previous Year Adjustment (Explain Below) . FUND BALANCE, END OF REPORTING PERIOD* $ - * If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 Previous Year Explanation: ===== PDF PAGE 7 ===== [Extraction: embedded PDF text] SECTION 3.2 A [65 ILCS 5/11-74.4-5 (d) (5) (c) and 65 ILCS 5/11-74.6-22 (d) (5)(c)] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND PAGE 1 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. Cost of studies, surveys, development of plans, and specifications. Implementation and administration of the redevelopment plan, staff and professional service cost. $ - 2. Annual administrative cost. $ - 3. Cost of marketing sites. $ - 4. Property assembly cost and site preparation costs. $ - 5. Costs of renovation, rehabilitation, reconstruction, relocation, repair or remodeling of existing public or private building, leasehold improvements, and fixtures within a redevelopment project area. $ - 6. Costs of the constructuion of public works or improvements. $ - ===== PDF PAGE 8 ===== [Extraction: embedded PDF text] SECTION 3.2 A PAGE 2 7. Costs of eliminating or removing contaminants and other impediments. $ - 8. Cost of job training and retraining projects. $ - 9. Financing costs. $ - 10. Capital costs. $ - 11. Cost of reimbursing school districts for their increased costs caused by TIF assisted housing projects. $ - 12. Cost of reimbursing library districts for their increased costs caused by TIF assisted housing projects. $ - ===== PDF PAGE 9 ===== [Extraction: embedded PDF text] SECTION 3.2 A PAGE 3 13. Relocation costs. $ - 14. Payments in lieu of taxes. $ - 15. Costs of job training, retraining, advanced vocational or career education. $ - 16. Interest cost incurred by redeveloper or other nongovernmental persons in connection with a redevelopment project. $ - 17. Cost of day care services. $ - 18. Other. $ - TOTAL ITEMIZED EXPENDITURES $ - ===== PDF PAGE 10 ===== [Extraction: embedded PDF text] Section 3.2 B [Information in the following section is not required by law, but may be helpful in creating fiscal transparency.] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year. Name Service Amount DuPage County Treasurer Distribution of Surplus $ 381,370.00 General Fund Transfer of non-property tax revenue $ 511,380.00 ===== PDF PAGE 11 ===== [Extraction: embedded PDF text] SECTION 3.3 [65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source FUND BALANCE BY SOURCE $ - 1. Description of Debt Obligations Amount of Original Issuance Amount Designated Total Amount Designated for Obligations $ - $ - 2. Description of Project Costs to be Paid Amount of Original Issuance Amount Designated Total Amount Designated for Project Costs $ - TOTAL AMOUNT DESIGNATED $ - SURPLUS/(DEFICIT) $ - ===== PDF PAGE 12 ===== [Extraction: embedded PDF text] SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment project area. Indicate an 'X' if no property was acquired by the municipality within the X 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: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: ===== PDF PAGE 13 ===== [Extraction: embedded PDF text] SECTION 5 [20 ILCS 620/4.7 (7)(F)] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area PAGE 1 Page 1 MUST be included with TIF report. Pages 2 and 3 are to be included ONLY if projects are listed. Select ONE of the following by indicating an 'X': 1. NO projects were undertaken by the Municipality Within the Redevelopment Project Area. 2. The Municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option, Xcomplete 2a.) 2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment 9 plan: LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area: Estimated Investment for Total Estimated to TOTAL: 11/1/99 to Date Subsequent Fiscal Year Complete Project Private Investment Undertaken (See Instructions) $ 20,260,087 $ - $ - Public Investment Undertaken $ 17,813,941 $ - $ - Ratio of Private/Public Investment 1 7/51 0 Project 1 Name: Façade Program Private Investment Undertaken (See Instructions) $ 1,095,653 $ - $ - Public Investment Undertaken $ 839,410 $ - $ - Ratio of Private/Public Investment 1 29/95 0 Project 2 Name: Metra Connection for Parking Lot Private Investment Undertaken (See Instructions) $ 1,052,000 Public Investment Undertaken $ 278,000 Ratio of Private/Public Investment 3 40/51 0 Project 3 Name: East Main Street Redevelopment Project Phase I Private Investment Undertaken (See Instructions) $ 7,314,742 Public Investment Undertaken $ 150,000 Ratio of Private/Public Investment 48 13/17 0 Project 4 Name: Clayton Street Redevelopment Private Investment Undertaken (See Instructions) $ 497,692 Public Investment Undertaken $ 150,000 Ratio of Private/Public Investment 3 7/22 0 Project 5 Name: Stairway Construction Private Investment Undertaken (See Instructions) Public Investment Undertaken $ 250,000 Ratio of Private/Public Investment 0 0 Project 6 Name: East Main Street Redevelopment Project Phase II Private Investment Undertaken (See Instructions) $ 10,000,000 Public Investment Undertaken $ 1,500,000 Ratio of Private/Public Investment 6 2/3 0 ===== PDF PAGE 14 ===== [Extraction: embedded PDF text] PAGE 2 **ATTACH ONLY IF PROJECTS ARE LISTED** Project 7 Name: Redevelopment of SW Corner of Route 59/Main Street Private Investment Undertaken (See Instructions) $ 300,000 Public Investment Undertaken $ 200,000 Ratio of Private/Public Investment 1 1/2 0 Project 8 Name: West Washington Street Redevelopment Project Phase I Private Investment Undertaken (See Instructions) Public Investment Undertaken $ 10,834,969 Ratio of Private/Public Investment 0 0 Project 9 Name: Central Main Street Redevelopment Plan Private Investment Undertaken (See Instructions) Public Investment Undertaken $ 3,611,562 Ratio of Private/Public Investment 0 0 Project 10 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 11 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 12 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 13 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 14 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 15 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 ===== PDF PAGE 15 ===== [Extraction: embedded PDF text] SECTION 6 [Information requested in SECTION 6.1 is not required by law, but may be helpful in evaluating the performance of TIF in Illinois. SECTIONS 6.2, 6.3, and 6.4 are required by law, if applicable. (65 ILCS 5/11-74.4-5(d))] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area SECTION 6.1-For redevelopment projects beginning before FY 2022, complete the following information about job creation and retention. Job Description and Type Number of Jobs Retained Number of Jobs Created (Temporary or Permanent) Total Salaries Paid $ - SECTION 6.2-For redevelopment projects beginning in or after FY 2022, complete the following information about projected job creation and actual job creation. The number of jobs, if any, created as a result of the development to The number of jobs, if any, projected to be created at the time of date, for the reporting period, under the same guidelines and approval of the redevelopment agreement assumptions as was used for the projections used at the time of approval of the redevelopment agreement SECTION 6.3-For redevelopment projects beginning in or after FY 2022, complete the following information about increment projected to be created and actual increment created. The amount of increment created as a result of the development to The amount of increment projected to be created at the time of date, for the reporting period, using the same assumptions as was approval of the redevelopment agreement used for the projections used at the time of the approval of the redevelopment agreement SECTION 6.4-For redevelopment projects beginning in or after FY 2022, provide the stated rate of return identified by the developer to the municipality and verified by an independent third party, if any: ===== PDF PAGE 16 ===== [Extraction: embedded PDF text] SECTION 7 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area Provide a general description of the redevelopment project area using only major boundaries. The Downtown Redevelopment Project Area is generally bounded on the north by Washington St between Easton Ave & Aurora St; on the south by the Chicago & NW Railroad approx between Neltnor Blvd & Aurora St extended; on the east by Easton Ave between Washington St & Hillview Ave; & on west by the EJ&E Railroad roughly between York Ave extended & the Chicago and NW Railroad Optional Documents Enclosed Legal description of redevelopment project area X Map of District X ===== PDF PAGE 17 ===== [Extraction: embedded PDF text] SECTION 8 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] FY 2022 Name of Redevelopment Project Area: West Chicago Downtown Redevelopment Project Area Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area. Year of Designation Base EAV Reporting Fiscal Year EAV 1990 $ 8,708,160 List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. Indicate an 'X' if the overlapping taxing districts did not receive a surplus. Surplus Distributed from redevelopment Overlapping Taxing District project area to overlapping districts DuPage County $ 6,480 Forest Preserve District of DuPage County $ 4,853 DuPage Airport Authority $ 596 Winfield Township $ 3,266 Winfield Township Road $ 5,831 West Chicago Park District $ 17,474 West Chicago Fire Protection District $ 36,753 West Chicago Mosquito District $ 548 West Chicago Library District $ 11,441 Grade School District #33 $ 184,344 High School District #94 $ 88,930 Junior College District #502 $ 8,514 ===== PDF PAGE 18 ===== [Extraction: OCR (rendered-page OCR)] WEST CHICAGO WHERE HISTORY & PROGRESS MEET Attachment B July 24, 2023 Rosanna Barbaro-Flores, Director Office of the State Comptroller Local Government Division James R. Thompson Center 100 West Randolph Street, Suite 15-500 Chicago, IL 60601-3252 Subject: Annual TIF Filing — Downtown TIF District #2 Dear Ms. Barbaro-Flores, On behalf of the City of West Chicago, I hereby certify that our community has complied with all the requirements of the Tax Increment Allocation Redevelopment Act, during the fiscal year 2022, for the Downtown TIF District #2. Enclosed herewith are all of the required documentation your office has requested to verify our compliance with the terms of the Act. Please contact our Economic Development Coordinator, Kelley Chrisse at 630-818-3331 if you have any questions or require additional information to evaluate our submittal. Thank you. Ruben Pineda Mayor pe: Michael Guttman Tom Dabareiner Kelley Chrisse 475 Main Street | T (630) 293-2200 | Ruben Pineda West Chicago, Ilinois F (630) 293-3028 ens 60185 www.westchicago.org | | Nancy M. Smith Michael L. Guttman CITY CLERK CITY ADMINISTRATOR ===== PDF PAGE 19 ===== [Extraction: OCR (rendered-page OCR)] BOND, DICKSON & CONWAY 400 S. Knoll Street, Unit C, Wheaton, Illinois 60187 P 630.681.1000 F 630.681.1020 ATTACHMENT C July 24, 2023 VIA E-MAIL TRANSMISSION Mr. Michael L. Guttman City Administrator City of West Chicago 475 Main Street West Chicago, IL 60185 Re: Downtown Redevelopment Project Area Annua! T.I.F. Report — 2022 Our File No. Dear Mr. Guttman: ° You have requested a legal opinion as to whether the actions the City has undertaken in connection with the Downtown redevelopment project area for the above referenced project are in compliance with the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 et seq.); (hereinafter réferred to as the “Act”). In connection with your request, I have reviewed the Ordinances passed by the Corporate Authorities of the City approving the Redevelopment Project Area, approving a Redevelopment Plan and adopting Tax Increment Financing Allocations. I have also reviewed the representations and certifications by the City and the documentation provided by the City in the Annual Tax Increment Finance Report. Based on my review of the foregoing documents and representations, it is my opinion that the City of West Chicago has satisfied, and is in compliance with, the requirements and provisions of the Act during the 2022 Fiscal Year. This opinion is made pursuant to the Act [65 ILCS 5/11- 74.4-4-5(d)(4) and 5/11 74.6-22(d)(7)]. Should you have any questions regarding this matter, please do not hesitate to contact me. Very truly yours, BOND, DIGKSON & CONWAY f Patrick K. Bond ===== PDF PAGE 20 ===== [Extraction: embedded PDF text] Attachment K CITY OF WEST CHICAGO, ILLINOIS ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 Prepared by Nikki Giles Finance Director ===== PDF PAGE 21 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS Management’s Discussion and Analysis December 31, 2022 FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS As noted earlier, the City of West Chicago uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental Funds The focus of the City of West Chicago’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. In particular, unassigned fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. At December 31, 2022, the City’s governmental funds reported combined ending fund balances of $27,419,555, which is a decrease of $9,377,701 from last year’s total of $36,797,256. Of the $27,419,555 total, $10,422,274 or 38.0 percent, of the fund balance constitutes unassigned fund balance, while $159,404, or 0.6 percent, is designated as nonspendable, $6,915,858, or 25.2 percent, has been classified as restricted funds and $9,922,019, or 36.2 percent, has been classified as assigned funds. The General Fund is the chief operating fund of the City. The General Fund reported a decrease change in fund balance for the fiscal year of $11,024,379, a decrease of 49.4 percent. The General Fund decrease was due to an interfund transfer to the Waterworks Fund and Sewerage fund. These variances are further outlined on the General Fund Schedule of Revenues, Expenditures and Changes in Fund Balance. The Public Benefit Fund is used to account for the accumulation of funds from Kerr McGee to fund projects that meet the criteria established by the City Council and as detailed in the City Code. The fund balance in The Public Benefit Fund remained stable for the fiscal year, reporting an increase of $40,440. The TIF Special Tax Allocation #1 Fund reported a decrease of $892,750 for the year. The TIF Special Tax Allocation #1 Fund will be subsequently closed, with non-property tax revenue transferred to other funds and the remaining surplus balance rebated to DuPage County for distribution to the appropriate taxing bodies. The Capital Improvement Fund reported an increase in fund balance of $62,921 for the year, which resulted from actual revenues of $4,683,430 exceeding actual expenditures totaling $4,620,509. With respect to the resulting material and labor shortages from the Pandemic outfall and due to the inflationary bidding environment, the decision was made that some capital projects, such as the building improvements at 135 W. Grand Lake Boulevard, would be deferred until fiscal year 2023. 22 ===== PDF PAGE 22 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS Balance Sheet - Governmental Funds December 31, 2022 Special Public General Benefit ASSETS Cash and Investments $ 9,295,117 $ 1,087,231 Receivables - Net of Allowances Property Taxes 4,358,551 - Other 4,459,744 - Due From Other Funds 692,086 - Prepaids/Inventories 158,471 - Total Assets 18,963,969 1,087,231 LIABILITIES Accounts Payable 816,575 - Accrued Payroll 482,774 - Deposits Payable 2,020,223 - Other Payables - - Total Liabilities 3,319,572 - DEFERRED INFLOWS OF RESOURCES Property Taxes 4,358,551 - Total Liabilities and Deferred Inflows of Resources 7,678,123 - FUND BALANCES Nonspendable 158,471 - Restricted 2,503,160 1,087,231 Assigned - - Unassigned 8,624,215 - Total Fund Balances 11,285,846 1,087,231 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 18,963,969 $ 1,087,231 The notes to the financial statements are an integral part of this statement. 32 ===== PDF PAGE 23 ===== [Extraction: embedded PDF text] Revenue Capital TIF Projects Special Tax Capital Allocation #1 Improvement Nonmajor Totals $ 381,371 $ 6,205,634 $ 8,122,654 $ 25,092,007 - - 97,773 4,456,324 - 1,060,610 99,973 5,620,327 - - - 692,086 - 933 - 159,404 381,371 7,267,177 8,320,400 36,020,148 381,371 85,449 35,090 1,318,485 - 17,026 - 499,800 - - - 2,020,223 - 300,416 - 300,416 381,371 402,891 35,090 4,138,924 - 288 102,830 4,461,669 381,371 403,179 137,920 8,600,593 - 933 - 159,404 - - 5,123,526 8,713,917 - 6,863,065 3,058,954 9,922,019 - - - 8,624,215 - 6,863,998 8,182,480 27,419,555 $ 381,371 $ 7,267,177 $ 8,320,400 $ 36,020,148 The notes to the financial statements are an integral part of this statement. 33 ===== PDF PAGE 24 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds For the Fiscal Year Ended December 31, 2022 Special Public General Benefit Revenues Taxes $ 4,677,902 $ - Intergovernmental 13,099,444 7,836 Charges for Services 2,947,860 32,604 Licenses and Permits 1,522,441 - Fines and Forfeitures 1,353,498 - Interest Income 104,248 - Miscellaneous 1,049,375 - Total Revenues 24,754,768 40,440 Expenditures General Government 8,648,027 - Public Safety 12,236,400 - Capital Outlay - - Total Expenditures 20,884,427 - Excess (Deficiency) of Revenues Over (Under) Expenditures 3,870,341 40,440 Other Financing Sources Transfers In 511,380 - Transfers Out (15,406,100) - Disposal of Capital Assets - - (14,894,720) - Net Change in Fund Balances (11,024,379) 40,440 Fund Balances - Beginning 22,310,225 1,046,791 Fund Balances - Ending $ 11,285,846 $ 1,087,231 The notes to the financial statements are an integral part of this statement. 36 ===== PDF PAGE 25 ===== [Extraction: embedded PDF text] Revenue Capital TIF Projects Special Tax Capital Allocation #1 Improvement Nonmajor Totals $ - $ 804,633 $ 48,623 $ 5,531,158 - 3,874,702 1,698,660 18,680,642 - - 935,900 3,916,364 - - - 1,522,441 - - - 1,353,498 - - - 104,248 - 4,095 2,724 1,056,194 - 4,683,430 2,685,907 32,164,545 381,370 - 31,932 9,061,329 - - - 12,236,400 - 4,620,509 306,453 4,926,962 381,370 4,620,509 338,385 26,224,691 (381,370) 62,921 2,347,522 5,939,854 - - - 511,380 (511,380) - - (15,917,480) - - 88,545 88,545 (511,380) - 88,545 (15,317,555) (892,750) 62,921 2,436,067 (9,377,701) 892,750 6,801,077 5,746,413 36,797,256 $ - $ 6,863,998 $ 8,182,480 $ 27,419,555 The notes to the financial statements are an integral part of this statement. 37 ===== PDF PAGE 26 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS TIF Special Tax Allocation #1 - Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2022 Budget Original Final Actual Revenues Taxes Property Taxes $ - $ - $ - Expenditures General Government Contractual Servies Payment to Taxing Bodies 92,500 92,500 381,370 Excess (Deficiency) of Revenues Over (Under) Expenditures (92,500) (92,500) (381,370) Other Financing (Uses) Transfers Out - (447,300) (511,380) Net Change in Fund Balance (92,500) (539,800) (892,750) Fund Balance - Beginning 892,750 Fund Balance - Ending $ - 96 ===== PDF PAGE 27 ===== [Extraction: embedded PDF text] Attachment L REPORT OF INDEPENDENT ACCOUNTANTS June 28, 2023 The Honorable City Mayor Members of the City Council City of West Chicago, Illinois We have examined management’s assertion included in its representation report that the City of West Chicago, Illinois, with respect to the City of West Chicago Downtown Redevelopment Project Area Tax Incremental Financing District, complied with the requirements of subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act (Illinois Public Act 85-1142) during the year ended December 31, 2022. As discussed in that representation report, management is responsible for the City of West Chicago, Illinois’ compliance with those requirements. Our responsibility is to express an opinion on management’s assertion about the City’s compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the City of West Chicago, Illinois’ compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the City of West Chicago, Illinois’ compliance with specified requirements. In our opinion, management’s assertion that the City of West Chicago, Illinois complied with the aforementioned requirements during the year ended December 31, 2022 is fairly stated in all material respects. This report in intended solely for the information and use of the Mayor, City Council, management, and the Illinois Department of Revenue and is not intended to be and should not be used by anyone other than these specified parties. Lauterbach & Amen, LLP LAUTERBACH & AMEN, LLP ===== PDF PAGE 28 ===== [Extraction: OCR (rendered-page OCR)] LEGAL DESCRIPTION OF THE DOWNTOWN REDEVELOPMENT PROJECT AREA The legal description of the Redevelopment Project Area is described as follows: The southwest quarter of Section 3, the southeast quarter of Section 4, the northeast quarter of Section 9 and part of the north half of Section 10, all in Township 39 North, Range 9 East of the Third Principal Meridian in DuPage County, Illinois, described as follows: Beginning at the point of intersection of the northerly right-of-way line of Washington Street and the easterly right-of-way line of Arbor Avenue being also the southwesterly comer of Lot 7 in McConnell's Town of Turner Addition; thence northwesterly along said easterly right-of-way line of Arbor Avenue and said line extended to a point of intersection with the northerly right-of-way line of McConnell Avenue; thence westerly along said northerly right-of-way line of McConnell Avenue extended across Arbor Avenue and along said northerly right-of-way line to a point of intersection with the easterly right-of-way line of Fremont Street; thence northwesterly along said easterly right-of-way line of Fremont Street to a point of intersection with the southerly right-of-way line of York Avenue; thence westerly along said southerly right-of-way line of York Avenue extended across Fremont Street to a property corner being 132 feet, more or less, from the westerly right-of-way line of Fremont Street as measured along said south right-of-way line of York Avenue; thence southeasterly along a property line being parallel with said westerly right-of-way of Fremont Street, a distance of 165 feet, more or less, to a property comer; thence westerly along a property line being parallel with said southerly right-of-way line of York Avenue to the southeasterly corner of J. T. Hosford's Third Addition to Turner; thence continuing westerly along the south line of said J. T. Hosford's Third Addition to a point on a northeasterly line of Lot 1 of Jacobson's Assessment Plat; thence northwesterly along said northeasterly line of Lot 1 of Jacobson's Assessment Plat being also a southwesterly line of Lot 4 in said J. T. Hosford's Third Addition and along said line extended to a point on the northeasterly right-of-way line of the Union Pacific Railway; thence southwesterly along,a line across said Union Pacific Railway right-of-way a distance of approximately 100 feet to a point where the southwesterly line of the right-of-way of the Union Pacific Railway intersects with the easterly line of the right-of-way of the Canadian National Railroad; thence southerly along said easterly right-of-way line of the Canadian National Railway on various courses and distances to a point on a northerly right-of-way line of the Union Pacific Railway said point also being the point of intersection of the westerly right-of-way line of north Aurora Street with said northerly right-of-way line of the Union Pacific Railway; thence westerly along said north line of the Union Pacific Railway right-of-way a distance of 100 feet; thence southerly along a line across said Union Pacific Railway right-of-way and across Washington Street to the point of intersection of the southerly right-of way line of said Washington Street and the easterly right-of-way line of South Aurora Street; thence southerly and southeasterly along said easterly right-of way line of South Aurora Street and along said line extended across the right-of-way of the Burlington Northern Railroad to a point on the southerly right-of-way line of said railroad; thence northeasterly, easterly and southeasterly on various courses and distances along said southerly right-of-way line of the Burlington Northern Railroad and along the southeasterly right-of-way line of the Union Pacific Railway to a point being the northeasterly comer of Lot "B" in College Hill Estates; thence southerly along the easterly line of said Lot "B" in College Hill Estates and said easterly line extended across Geneva Street to a point on the southerly right-of-way line of said Geneva Street; thence easterly, southerly and southeasterly on various courses and distances along said southerly right-of-way line of Geneva Street to a point of intersection with the westerly right-of-way line of Parker Avenue; thence southeasterly along a line to a point on the easterly right-of-way line of said Parker Avenue being a point on the west line of Lot 1 in Parker's Addition to West Chicago a distance of 25 feet northerly of the southwest corner of said Lot 1; thence southeasterly along a line to a point on the south line of said Lot 1 in Parker's Addition, a distance of 60 feet easterly from the southwest corner of said Lot 1; thence easterly along said south line of Lot 1 in Parker's Addition to the southeast corner of said Lot 1, being also the northeast comer of Lot 2 in said Parker's Addition; thence southerly along the east line of said Lot 2 in Parker's Addition to a point a distance of 50 feet northerly from the southeast corner of said Lot 2; thence southeasterly along.a line to a point on the easterly extension of the south line of said Lot 2 in Parker's Addition, a distance of 145.44 feet easterly from the southwest comer of said Lot 2; thence southeasterly along a line to a point on the easterly extension of the south line of Lot 3 in said Parker's Addition, a distance of 161.87 feet easterly from the southwest corner of said Lot 3; thence southwesterly along a line described as ending at a point on the easterly extension of the south line of Lot 9 of said Parker's Addition, a distance of 125.5 feet from the southwest corner of said Lot 9, to a point on said line being 224.96 feet north of its southern terminus as measured on said line; thence southwesterly a distance of 68.02 feet, more or less, along a line to the northeast corner of Lot 7 in said Parker's Addition; thence southwesterly along a line to a point on the south line of said Lot 7 in Parker's Addition being 103.16 feet easterly of the southwest corner of said Lot 7; thence southwesterly along a line to a point on the south line of Lot 9 in said Parker's Addition being 87.08 feet easterly of the southwest comer of said Lot 9 being also a point on the northerly right-of-way line of Spencer Street; the previous seven courses and distances are the westerly right-of-way line of Wilson Avenue as presently dedicated; thence westerly along said northerly right-of-way line of Spencer Street and ===== PDF PAGE 29 ===== [Extraction: OCR (rendered-page OCR)] said northerly line extended westerly across Parker Avenue to a point of intersection of said northerly right-of-way line with the easterly line of Block 1 of Barber's Addition to the Town of Turner extended northerly; thence southerly along said easterly line of Block 1 of Barber's Addition extended northerly and along said easterly line to a point on the northerly right- of-way line Conde Street; thence easterly along said northerly right-of-way line of Conde Street extended across Wilson Avenue, Clayton Street and the former Sycamore Avenue to a point on the easterly right-of-way of said former Sycamore Avenue; thence northerly along said easterly right-of-way line of the former Sycamore Avenue to a point of intersection with the northerly right-of-way line of Spencer Street; thence westerly along said northerly right-of-way line of Spencer Street, a distance of 162.50 feet to the most westerly corner of Lot 1 George R. Knott's Addition to West Chicago; thence northeasterly along the westerly line of said George R. Knott's Addition, a distance of 301.6 feet to a northwesterly corner of said Lot 1 in George R. Knott's Addition; thence easterly along the northerly line of said Lot 1 in George R. Knott's Addition, a distance of 156 feet, more or less, to a corner of the Union Pacific Railway property; thence northeasterly along an easterly line of said Union Pacific Railway property, a distance of 50 feet, more or less, to a point on the southwesterly right-of-way line of said Union Pacific Railway; thence southeasterly along said southwesterly right-of-way line of the Union Pacific Railway on various courses and distances to a point of intersection with the easterly right-of-way line of Illinois State Highway Route 59 (Neltnor Boulevard); thence northerly to the point of intersection of the northeasterly right-of-way line of the Union Pacific Railway with the easterly right-of-way line of said Illinois Route 59; thence northerly and northwesterly along said east right-of-way line of Illinois Route 59 to the point of intersection with the southerly right-of-way line of Hillview Avenue; thence easterly along said southerly right-of-way line of Hillview Avenue to a point of intersection with the easterly right-of-way line of Easton Avenue extended southerly; thence northerly along said easterly right-of-way line of Easton Avenue and said easterly line extended across Hillview Avenue, Main Street and Washington Street to a point on the northerly right-of-way line of said Washington Street; thence westerly along said northerly right-of-way line of Washington Street and said northerly line extended across Illinois Route 59 to the point of intersection with the easterly right-of-way line of Oak Street; thence southwesterly along a line across said Washington Street to the northwesterly corner of Prudential Realty Company's Resubdivision of the Anthony Property; thence southerly along the westerly line of said Prudential Realty Company's Resubdivision of the Anthony Property a distance of 601.02 feet (605.22 feet recorded) to the southwesterly comer of said Resubdivision of the Anthony Property being also a point on the northerly line of Lot 1 of the West Chicago Historical Society Consolidation Plat; thence westerly along said northerly line of Lot ‘ of the West Chicago Historical Society Consolidation Plat to the northwesterly corer of said Lot 1; thence southerly along the westerly lit line of said Lot 1 of the West Chicago Historical Society Consolidation Plat to the southwesterly corner of said Lot 1 being also a point on the northerly right-of-way line of Colford Avenue; thence westerly along said northerly right-of-way line of Colford Avenue to a point of intersection with the easterly line of Lot 14 in Pleasant Hill Addition to West Chicago extended northerly; thence southerly along said easterly line of Lot 14 in Pleasant Hill and said line extended to the southeasterly corner of said Lot 14; thence westerly along the southerly line of said Pleasant Hill Addition to a point on the east line of the west 232 feet of the east 985.38 feet of the northeast quarter of the northwest quarter of Section 10, Township 39 North, Range 9 East of the Third Principal Meridian; thence southerly along said east line of the west 232 feet of the east 985.38 feet of the northeast quarter of the northwest of said Section 10, a distance of 16.5 feet to a point on the north line of the south 231 feet of said west 232 feet; thence westerly along said north line of the south 231 feet, a distance of 232 feet to a point on the west line of said east 985.38 feet of the northeast quarter of the northwest quarter of said Section 10; thence northerly along said west line of the east 985.38 feet, a distance of 16.5 feet to a point on the south line of Colford Subdivision; thence westerly along said south line of Colford Subdivision to a point on the east line of the west 219.78 feet of the northeast quarter of the northwest quarter of Section 10, Township 39 North, Range 9 East of the Third Principal Meridian; thence southerly along said east line of the west 219.78 feet of the northeast quarter of the northwest quarter of said Section 10, a distance of 34.5 feet to a point on the north line of the south 213 feet of said west 219.78 feet; thence westerly along said north line of the south 213 feet, a distance of 219.78 feet to a point on the west line of the northeast quarter of the northwest quarter of said Section 10; thence northerly along said west line of the northeast quarter of the northwest quarter of said Section 10, a distance of 134.9 feet to a point of intersection with the south right. of-way line of Colford Avenue; thence easterly along said south right-of-way line of Colford Avenue to a point of intersection vith the easterly right- of way line of Oakwood Avenue extended southerly: thence northerly along said easterly right-of-way line of Oakwood Avenue and said easterly line extended across Colford Avenue to a point directly east of the most easterly corner of Lot 5 in Block 6 of the Original Town of Turmer; thence west along a line across Oakwood Avenue to said most easterly comer of Lot 5 in Block 6 in the Original Town of Turner being also a point on the northwesterly right-of-way line of Chicago Street; thence southwesterly along said northwesterly right-of-way line of Chicago Street extended across Fulton Street to a point of intersection with the northeasterly right-of-way line of High Street; thence northwesterly along said northeasterly right-of way line of High Street extended across Center Street to a point of intersection with the southeasterly right-of-way line ===== PDF PAGE 30 ===== [Extraction: OCR (rendered-page OCR)] of Galena Street; thence northeasterly along said southeasterly right-of-way line of Galena Street, a distance of 317.1 feet to anortherly corner of Lot 10 in Block 4 of the Original Town of Turner; thence northwesterly across Washington Street along a line at right angles to the last described course to a point on the northerly right-of-way line of said Washington Street; thence westerly along said north right-of-way line of Washington Street to the place of beginning; all in the City of West Chicago, DuPage County, Illinois. ===== PDF PAGE 31 ===== [Extraction: embedded PDF text] AV SO YORK AVE YORK AVE OAK VIRGIE PL INGALTON F PLYMOUTH CT Area MC CONNELL AVE ST AVE ST FR E M GARDEN ON ARBOR SOPHIA WASH T WASHINGTON ST ST ST ST AVEProject ST ST CENTER GALENA FULTON SUMMIT AVE MAIN AVE WASHINGTON ST AURORA ST OAKWOOD ST TURNER HIGHST COLFORD AVE EASTON WOOD CT CHICAGO ST STT S MAIN ST GENEVA ST CHURCHH AVE CRedevlopment U R ST AVE AVE H C 59 EASTON JOLIET ST ALLEN UNION PARKER PACIFIC ROUTE CT RR IL W SPENCER ST WOOD VIE ST AVE ST LL T HI RAILWAYDowntown GEORGE ST BARBER WILSON CLAYTON AVE Name: CENTRAL CONDE ST 9/10/2013 CT Date:DocumentREDEVELOPMENT_AREA_MapA_final ST ANN ST CONDE ST NSIN Y MES ELAND