Tax Increment Financing (TIF) Open HouseBERWYN DEVELOPMENT CORPORATION

OCTOBER 10, 2018

Removed: 2009

Description of Redevelopment Project Area Typical mature suburban business areas

Slower development without the guidance of a comprehensive plan

Indications of unplanned growth

Irregularly shaped blocks

Obsolete platting of parcels

Vacant buildings

Deteriorating buildings and site conditions

Lack of convenient off-street parking

Incompatible land-use relationships

Buildings characterized by obsolescence

Goal of TIF1. On a coordinated rather than piecemeal basis to ensure

that the land use, pedestrian access, vehicular circulation, parking service and urban design systems are functionally integrated and meet present-day principles and standards;

2. On a reasonable, comprehensive and integrated basis to ensure that the factors of blight and conservation are eliminated; and

3. Within a reasonable and defined time period so that the area may contribute productively to the economic vitality of the City.

A Commitment to Maintaining Healthy & Vibrant Corridors A demonstrated

commitment to the City’s commercial corridors.

Reinforces Berwyn’s special character as a mixed-use community business area.

Addresses recommendations made in the Comprehensive Plan.

An Improved Business Climate Reduces physical deterioration and

obsolescence. Improves and upgrades the image

and appearance of the area. Stimulates private investment in

building rehabilitation and new development.

Promotes additional pedestrian traffic.

Protects historic buildings and districts.

Increased Employment and Retail Opportunities for the City’s Residents Stabilizes and expands the

City’s employment base.

Promotes a wider range of goods and services for the residents of the City.

Stabilized and Expanded Tax Revenues Generated within the Added Project Area Strengthens the non-residential

property tax base of the City.

Strengthens the sales tax base of the City through increased business activity.

Maintains a healthy balance between the property tax burden borne by homeowners and non-residential properties.

Revenue Generated

Revenues

Revenue Categories Depot Roosevelt

Incremental Property Tax $14,318,000 $7,285,000

Bonds/Obligations $1,940,000 *$1,025,000

Investment Income/Interest $169,000 $159,000

Transfers/Other $98,000 $165,000

Total $16,525,000 $8,634,000

Source: Annual TIF Report FY 2017

*Partial amount based on recent allocations

$14,318,000 , 87%

$1,940,000 , 12%

$169,000 , 1% $98,000 , 0%

Depot Revenues

$7,285,000 , 84%

$1,025,000 , 12%

$159,000 , 2% $165,000 , 2%

Roosevelt Revenues

Incremental Property Tax

Bonds/Obligations

Investment Income/Interest

Transfers/Other

Incremental Property Taxes

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

Depot Roosevelt

Municipal ExpendituresExpenditures

Expenditure Categories Depot Roosevelt

TIF Administration & Professional Costs

$2,077,000 $2,392,000

Public Improvement& Debt Service

$6,724,000 $6,483,000

Incentives & Redevelopment Costs

$7,498,000 $2,950,000

Other $250,000 --

Total $16,549,000 $11,825,000

Amounts rounded to the nearest thousand. Source: Annual TIF Reports

$2,077,000 , 13%

$6,724,000 , 41%

$7,498,000 , 45%

$250,000 , 1%

Depot

$2,392,000 , 20%

$6,483,000 , 55%

$2,950,000 , 25%

Roosevelt

TIF Administration & ProfessionalCosts

Public Improvement & Debt Service

Incentives & Redevelopment Costs

Other

Total Investment within the RPAInvestment Categories Depot Roosevelt

Public Investment* $7,568,000 $6,042,000

Private Investment $44,116,000 $20,598,000

Total $51,684,000 $26,640,000

Source: City of Berwyn Building Permit Data (1/1/1997-12/31/2017)

*Includes only direct investment to private projects, does not include infrastructure or other public costs

$7,568,000 , 15%

$44,116,000 , 85%

Depot

$6,042,000 , 23%

$20,598,000 , 77%

Roosevelt

Public Investment

Private Investment

Taxing District Contribution to Increment

Depot RooseveltTaxing District

% of Increment

Contribution to TIF

Schools 58.24% $373,775

City of Berwyn 27.38% $175,721

Township* 5.03% $32,282

Berwyn Park District

2.6% $16,686

Other 6.75% $43,320

Taxing District% of Increment

Contribution to TIF

Schools 52.5% $292,698

City of Berwyn 30.96% $172,608

Township* 5.68% $31,667

North Berwyn Park District

3.21% $17,897

Other 7.65% $42,650

*Township Taxes include Berwyn Library Fund, Public Health Berwyn, Berwyn Township Mental Health District, General Assistance Berwyn, and Town of Berwyn

In 2017, the City gained $641,784 within the Depot TIF and $557,520 within the Roosevelt TIF in revenue stemming from property tax increment.

Other Performance Data

Depot Roosevelt

2017 Equalized Assessed Valuation (EAV) $24,880,725 $14,449,116

Base EAV $18,251,797 $10,944,135

Source: Cook County Clerk’s Office

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