===== PDF PAGE 3 ===== [Extraction: embedded PDF text] with ideas for re-use and/or redevelopment of the property. It was noted that Old Time Pottery is not expected to renew its lease in five years. With respect to the former medical/former bank building on Neltnor Boulevard, the new owner is currently demolishing the interior in anticipation of a build-out permit for converting this property into a Tropical Smoothie Café. Staff continues to work with the Franchisee on the TIF funding request. Once the proper documentation has been submitted, the review will be forwarded for consideration. 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 2:35pm. 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 kchrisse@westchicago.org | 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.]. 734.93 re of TIF Administrator Date _| Written sig 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 . Date Designated Date Terminated Name of Redevelopment Project Area MM/DDIYYYY MM/DDIYYYY West Chicago Downtown Redevelopment Project Area 5/21/1990 12/31/2021 x: 8/2/2004 12/4/2017 West Chicago Oliver Square Redevelopment Project Area = West Chicago Roosevelt Road/Fabyan Parkway RPA 3/7/2022 [_ | | West Chicago Downtown TIF District No. 2 RPA — *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.] ===== 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 Oliver Square Redevelopment Project Area , Primary Use of Redevelopment Project Area*: Commercial *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 Oliver Square Redevelopment Project Area Provide an analysis of the special tax allocation fund. Special Tax Allocation Fund Balance at Beginning of Reporting Period $ 164,109 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 $ 21,245.00 $ 540,044.00 98% State Sales Tax Increment 0% Local Sales Tax Increment 0% State Utility Tax Increment 0% Local Utility Tax Increment 0% Interest $ 8,870.00 2% 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 $ 21,245.00 Cumulative Total Revenues/Cash Receipts $ 548,914 100% Total Expenditures/Cash Disbursements (Carried forward from $ - Section 3.2) Transfers to Municipal Sources $ - Distribution of Surplus Total Expenditures/Disbursements $ - Net/Income/Cash Receipts Over/(Under) Cash Disbursements $ 21,245 Previous Year Adjustment (Explain Below) . FUND BALANCE, END OF REPORTING PERIOD* $ 185,354 * 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 Oliver Square 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 Oliver Square 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 ===== 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 Oliver Square 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 $ 185,354 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 Future Incentives $ 250,000 Total Amount Designated for Project Costs $ 250,000 TOTAL AMOUNT DESIGNATED $ 250,000 SURPLUS/(DEFICIT) $ (64,646) ===== 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 Oliver Square 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 Oliver Square 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 3 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) $ 651,246 $ - $ - Public Investment Undertaken $ 270,480 $ - $ - Ratio of Private/Public Investment 2 11/27 0 Project 1 Name: Oliver Square Anchor Tenants Private Investment Undertaken (See Instructions) $ 300,000 Public Investment Undertaken $ 72,418 Ratio of Private/Public Investment 4 1/7 0 Project 2 Name: Upgraded Shopping Center Signage Private Investment Undertaken (See Instructions) $ 200,000 Public Investment Undertaken $ 140,000 Ratio of Private/Public Investment 1 3/7 0 Project 3 Name: Site Improvements Private Investment Undertaken (See Instructions) $ 151,246 Public Investment Undertaken $ 58,062 Ratio of Private/Public Investment 2 49/81 0 Project 4 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 5 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 6 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 ===== PDF PAGE 14 ===== [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 Oliver Square 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 15 ===== [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 Oliver Square Redevelopment Project Area Provide a general description of the redevelopment project area using only major boundaries. The Oliver Square Redevelopment Project Area is generally located at the northeast corner of Route 59 and Route 64, east to the Illinois Prairie Path Optional Documents Enclosed Legal description of redevelopment project area X Map of District X ===== PDF PAGE 16 ===== [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 Oliver Square 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 2004 $ 3,652,701 $ 3,866,130 List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. X 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 Forest Preserve District of DuPage County DuPage Airport Authority Wayne Township Wayne Township Road West Chicago Park District West Chicago Fire Protection District West Chicago Library District Grade School District #33 High School District #94 Junior College District #502 ===== PDF PAGE 17 ===== [Extraction: OCR (rendered-page OCR)] City 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 — Oliver Square TIF District 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 Oliver Square TIF District. 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, Illinois | F (630) 293-3028 MAYOR 60185 www.westchicago.org Nancy M. Smith Michael L. Guttman CITY CLERK CITY ADMINISTRATOR ===== PDF PAGE 18 ===== [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: — Oliver Square Redevelopment Project Area Annual 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 Oliver Square 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.referred 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, DICKSON & CONWAY [iturt Kreg Patrick K. Bond ===== PDF PAGE 19 ===== [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 20 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS Nonmajor Governmental Funds Combining Balance Sheet December 31, 2022 Special TIF Special Tax Allocation #2 ASSETS Cash and Investments $ 185,354 Receivables - Net of Allowances Property Taxes 69,222 Other - Total Assets 254,576 LIABILITIES Accounts Payable - DEFERRED INFLOWS OF RESOURCES Property Taxes 69,222 Total Liabilities and Deferred Inflows of Resources 69,222 FUND BALANCES Restricted 185,354 Assigned - Total Fund Balances 185,354 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 254,576 113 ===== PDF PAGE 21 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS Nonmajor Governmental Funds Combining Statement of Revenues, Expenditures and Changes in Fund Balances For the Fiscal Year Ended December 31, 2022 Special TIF Special Tax Allocation #2 Revenues Taxes $ 21,245 Charges for Services - Intergovernmental - Miscellaneous - Total Revenues 21,245 Expenditures General Government - Capital Outlay - Total Expenditures - Excess (Deficiency) of Revenues Over (Under) Expenditures 21,245 Other Financing Sources Disposal of Capital Assets - Net Change in Fund Balances 21,245 Fund Balances - Beginning 164,109 Fund Balances - Ending $ 185,354 115 ===== PDF PAGE 22 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS TIF Special Tax Allocation #2 - 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 $ 20,000 $ 20,000 $ 21,245 Expenditures General Government Capital Outlay Prospect Development 25,500 25,500 - Net Change in Fund Balance $ (5,500) $ (5,500) 21,245 Fund Balance - Beginning 164,109 Fund Balance - Ending $ 185,354 117 ===== PDF PAGE 23 ===== [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 Oliver Square 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 24 ===== [Extraction: embedded PDF text] Oliver Square TIF District #2 Legal Description THAT PART OF THE SOUTHWEST QUARTER OF SECTION 27 AND PART OF THE SOUTHEAST QUARTER OF SECTION 28, ALL IN TOWNSHIP 40 NORTH, RANGE 9 EAST OF THE THIRD PRINCIPAL MERIDIAN, BOUNDED WESTERLY BY THE EASTERLY RIGHT-OF-WAY LINE OF STATE ROUTE 59; BOUNDED SOUTHERLY BY THE NORTH LINE OF STATE ROUTE 64 (NORTH AVENUE); BOUNDED EASTERLY BY THE SOUTHEASTERLY LINE OF LOT 7 IN THE AMENDED AND RESTATED PLANNED UNIT DEVELOPMENT PLAT OF K MART SUBDIVISION ACCORDING TO THE PLAT THEREOF RECORDED SEPTEMBER 20, 1990 AS DOCUMENT NUMBER R90-125392; BOUNDED NORTHEASTERLY BY THE SOUTHERLY LINE OF THE ILLINOIS PRAIRIE PATH-ELGIN BRANCH; AND BOUNDED NORTHERLY BY THE NORTH LINE OF SAID AMENDED AND RESTATED PLANNED UNIT DEVELOPMENT PLAT OF K MART SUBDIVISION; ALL IN DUPAGE COUNTY, ILLINOIS. ALSO: ALL THAT PART OF SAID STATE ROUTE 59 LYING WESTERLY OF, AND ADJOINING, THE ABOVE DESCRIBED PARCEL; AND ALSO: ALL THAT PART OF SAID STATE ROUTE 64 (NORTH AVENUE) LYING SOUTH OF, AND ADJOINING, THE ABOVE DESCRIBED PARCEL. ===== PDF PAGE 25 ===== [Extraction: OCR (rendered-page OCR)] IL RTE 59 0128403019 0128403028 ue RTE 64 PARCELS CITY OF WEST CHICAGO BUILDING \ TIF DISTRICT BOUNDARY MAP nrostrcr & Gliversquare_tif.mat 5/2004 4 inch equals 400 feet