TIF Profile: Division/North Branch

District Map

Date TIF Created: 3/15/1991 Termination Date: 3/15/2014 Size: 5 Acres

TIF Plan Consultant: Trkla, Pettigrew, Allen & Payne, Inc.

TIFWorksELIGIBLE

Ward(s): 32

Land Use:

Schools: None
Community Area(s): West Town
Initial EAV: $482,150.00
Current EAV (2004): $3,670,365.00
Fund Balance (2004): $330,999.00
Total Increment to Date (2004): $2,834,126.22

Total TIF Increment and EAV by Year
Year EAV Increment
1990 $502,637.00 $2,041.00
1991 $755,638.00 $25,464.00
1992 $2,256,063.00 $168,539.00
1993 $2,851,271.00 $223,527.00
1994 $2,815,043.00 $216,119.00
1995 $2,829,427.00 $219,353.00
1996 $2,865,922.00 $225,338.00
1997 $3,078,961.00 $229,636.00
1998 $3,123,378.00 $234,330.00
1999 $3,224,534.00 $234,090.00
2000 $3,301,891.00 $219,601.00
2001 $3,430,046.00 $226,752.00
2002 $3,431,764.00 $214,643.00
2003 $3,505,208.00 $194,473.32
2004 $3,670,365.00 $200,219.90
Total Increment to Date (2003): $2,834,126.22

Redevelopment Agreements
Date Authorized: 04/12/1991 Units of Affordable Housing: 0
Developer: River North Distributing
Description:  79,000 sq. ft. warehouse/distribution facility plus 85,000 sq. ft. of parking. Uses liquor tax to help finance bonds.
Private Investment: $7,900,000.00 Promised Jobs Created: 75
TIF Assistance: $2,615,000.00 Promised Jobs Retained: 50

Bonds
Date IssuedDebt InstrumentPrincipalInterest Rate
01/01/1994Division-North Branch Redevelopment Project Series 1991$2,615,000.008.75

Estimated TIF Redevelopment Budget
Project Type Amount
Professional Services/Administration $75,000.00
Property Acquisition, Site Prep, Demolition, Environmental $4,567,000.00
Public Improvements $1,835,000.00
Job Training $100,000.00
Total: $6,577,000.00