City of Waupaca 2018 Joint Review Board Annual Review of Tax - - PowerPoint PPT Presentation

City of Waupaca 2018 Joint Review Board

Annual Review of Tax Incremental Financing Districts Kathy Kasza Finance Director/Treasurer

2017 TAX INCREMENTAL FINANCING (TIF) DISTRICT REVIEW

• MAP OF CITY TIF DISTRICTS
• SUMMARY OF HISTORICAL FINANCIAL

INFORMATION

• 2018 BUDGET PROJECTION OF ALL TIF FUNDS
• OUTSTANDING DEBT CHART
• TIF #3 – BUSINESS PARK
• MAP OF DISTRICT
• HIGHLIGHTS FOR 2017
• BUDGET PROJECTION
• TIF #4 – WESTERN AVENUE
• MAP OF DISTRICT
• HIGHLIGHTS FOR 2017
• BUDGET PROJECTION
• TIF #5 – AIRPORT
• MAP OF DISTRICT
• HIGHLIGHTS FOR 2017
• BUDGET PROJECTION
• TIF #6 – W FULTON AVE (FOXFIRE)
• MAP OF DISTRICT
• HIGHLIGHTS FOR 2017
• BUDGET PROJECTION
• TIF #7 – WARE STREET
• MAP OF DISTRICT
• HIGHLIGHTS FOR 2017
• BUDGET PROJECTION
• TIF #8 – EAST GATEWAY
• MAP OF DISTRICT
• HIGHLIGHTS FOR 2017
• BUDGET PROJECTION
• TIF #9 – ROYALTON STREET
• MAP OF DISTRICT
• HIGHLIGHTS FOR 2017
• BUDGET PROJECTION
• TIF #10 – BADGER STREET
• MAP OF DISTRICT
• HIGHLIGHTS FOR 2017
• BUDGET PROJECTION
• FUTURE CONSIDERATION
• EARLY TERMINATION TIF #5
• PREPAYMENT TIF #3 & #10 DEBT IN

2020

• CONTINUE REVIEW OF FINANCIAL

POSITION OF TIF DISTRICTS

TIF #3 TIF #4 TIF #5 TIF #6 TIF #7 TIF #8 TIF #9 TIF #10 Totals SOURCES OF FUNDS Taxes 3,485,188 $ 8,444,396 $ 281,396 $ 7,275,796 $ 517,885 $ 768,750 $ 57,655 $ 859,352 $ 21,690,418 $ Intergovernmental 232,402 61,608 42,964 29,228 16,631 528,875 237,445 155 1,149,308 Other revenue 970,461 1,084,021 106,818 981,464 58,447 363,788 5,600 322,140 3,892,739 Sale of capital assets 414,434 536,835 951,269 Proceeds of long-term debt 7,883,644 8,235,985 1,187,975 9,915,000 690,000 20,705,000 1,919,915 50,537,519 Transfers 1,902,971 729,203 640,639 74,388 2,876,939 12,776 186,063 6,422,979 Total sources 14,889,100 17,826,010 2,348,356 18,842,127 1,357,351 25,780,187 313,476 3,287,625 84,644,232 USES OF FUNDS Capital expenditures 5,609,491 9,196,686 1,326,561 7,700,691 821,011 27,521,980 32,292 955,333 53,164,045 Debt service: Principal retirement 3,605,000 4,692,869 652,135 8,329,793 192,880 1,759,870 635,130 19,867,677 Interest and fiscal charges 1,362,192 2,209,312 369,660 1,344,091 90,565 1,925,001 277,507 7,578,328 Transfers 4,312,417 532,644 1,467,552 196,100 2,177,330 69,413 1,352,687 10,108,143 Total uses 14,889,100 16,631,511 2,348,356 18,842,127 1,300,556 33,384,181 101,705 3,220,657 90,718,193 Fund balance at December 31 $ 1,194,499 $ $ $ 56,795 $ (7,603,994) $ 211,771 $ 66,968 $ (6,073,961) $ Cash (76,023) $ (1,194,126) $ $ $ (56,795) $ $ (211,771) $ (66,968) $ (1,605,683) $ Taxes receivable (127,743) (127,743) Other receivable (373) (373) Developer payables 1,023 1,023 Debt outstanding 2,073,644 690,985 232,975 55,000 2,825,000 380,000 6,257,604 Advance due from other funds 127,743 1,001,106 1,128,849 Due to other funds 75,000 6,602,888 6,677,888 Balance to be collected (surplus) at December 31 2,073,644 $ (503,514) $ 232,975 $ 55,000 $ (56,795) $ 10,428,994 $ (211,771) $ 313,032 $ 12,331,565 $ City of Waupaca, Wisconsin Historical Sources, Uses and Status of Funds - Tax Incremental Financing Districts From Dates of Creation Through December 31, 2017

Page 58

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 - #10 FUNDS 5/31/2018 TIF #3-#10 SUMMARY Actual Actual Actual Actual Budget Budget Budget Budget Prior Year Prior Year Prior Year Prior Year Amended Request Projection Projection Account Description 2014 2015 2016 2017 2018 2019 2020 2021 REVENUES TAXES 1,794,360 1,799,826 1,906,010 1,825,326 2,057,547 1,961,648 1,943,704 1,948,358 INTERGOVERNMENTAL 16,274 20,406 16,372 11,869 11,027 9,365 11,012 11,012 MISCELLANEOUS 310,295 282,525 718,269 87,506

• OTHER FINANCING SOURCES (TRANSFERS IN)

699,248 524,453 1,475,026 315,588 1,029,325 402,350 521,012 808,749 TOTAL REVENUES 2,820,178 2,627,210 4,115,676 2,240,289 3,097,899 2,373,363 2,475,728 2,768,119 EXPENDITURES CONSERVATION & DEVELOPMENT 7,253 235,035 88,977 26,000 51,295 54,763 59,763 42,350 CAPITAL OUTLAY 165,545 101,944 25,597 19,964 270,340 69,028 69,028 69,028 DEBT SERVICE 2,193,903 2,102,688 3,896,757 1,203,694 1,152,164 988,348 1,351,166 1,285,342 OTHER FINANCING USES (TRANSFERS OUT) 396,973 252,546 304,598 394,996 1,107,552 472,299 590,461 878,198 TOTAL EXPENDITURES 2,763,674 2,692,212 4,315,930 1,644,654 2,581,351 1,584,438 2,070,418 2,274,918 EXCESS REVENUES OVER (UNDER) EXPENDITURES 56,504 (65,002) (200,254) 595,635 516,548 788,925 405,310 493,201 BEGINNING FUND BALANCE (39,643) 16,861 (48,141) (248,395) 347,240 863,788 1,652,713 2,058,023 ENDING FUND BALANCE* 16,861 (48,141) (248,395) 347,240 863,788 1,652,713 2,058,023 2,551,224 *DOES NOT INCLUDE AMOUNT DUE TO WATER/SEWER UTILITY

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 - #10 FUNDS 5/31/2018 TIF #3-#10 SUMMARY Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 1,866,116 881,931 887,017 892,255 897,650 903,207 908,931 914,826 920,899 927,153 933,595 9,321 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621

• 115,271

110,909

• 191,186

231,135 226,763 221,239 214,529 206,596

• 1,990,708

1,000,461 894,638 1,091,062 1,136,406 1,137,591 1,137,791 1,136,976 1,135,116 934,774 941,216 31,250 16,250 16,250 14,723 7,500 7,500 7,500 7,500 7,500 5,000 5,000 227,788

• 350,194

349,226 126,174 414,979 417,119 418,304 418,504 417,689 415,829

• 160,530

119,159 8,250 199,436 239,385 235,013 229,489 222,779 214,846 8,250 4,125 769,762 484,635 150,674 629,138 664,004 660,817 655,493 647,968 638,175 13,250 9,125 1,220,946 515,826 743,964 461,924 472,402 476,774 482,298 489,008 496,941 921,524 932,091 2,551,224 3,772,170 4,287,996 5,031,960 5,493,884 5,966,286 6,443,060 6,925,358 7,414,366 7,911,307 8,832,831 3,772,170 4,287,996 5,031,960 5,493,884 5,966,286 6,443,060 6,925,358 7,414,366 7,911,307 8,832,831 9,764,922

‐ 1,000,000.00 2,000,000.00 3,000,000.00 4,000,000.00 5,000,000.00 6,000,000.00 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

OUTSTANDING TIF DEBT

TIF #3 TIF #4 TIF #8 TIF #10

TID #3 #3 – BUSINESS PARK

TID #3 HIGHLIGHTS

DEVELOPER GRANTS

• PRESTO INDUSTRIES
• 2017 – 2022 VALUATION $1.5 M
• CAROUSEL GYMNASTICS
• 2017 -2022 VALUATION $650K

2017 ANNUAL REPORT ITEMS:

• FUNDING FROM TID #6 AND

CITY TAX LEVY FOR DEBT SERVICE

• REFINANCED 2003 2007 GO

REFUNDING BONDS

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 ‐ #10 FUNDS Actual Actual Actual Actual Budget Budget Budget Budget Budget Prior Year Prior Year Prior Year Prior Year Request Projection Projection Projection Account Description 2014 2015 2016 2017 2018 2019 2020 2021 2022 TAXES 318,297 323,969 344,792 315,872 322,688 322,688 322,688 322,688 322,688 INTERGOVERNMENTAL 1,525 1,365 791 797 700 700 700 700 700 MISCELLANEOUS 11,563 37,936 52,843 ‐ ‐ ‐ ‐ ‐ ‐ OTHER FINANCING SOURCES 231,664 226,657 1,092,015 56,315 317,287 271,409 273,999 684,334 ‐ TOTAL REVENUES 563,048 589,927 1,490,441 372,984 640,675 594,797 597,387 1,007,722 323,388 CONSERVATION & DEVELOPMENT 1,149 13,539 29,844 5,586 15,000 15,000 15,000 15,000 15,000 CAPITAL OUTLAY 103,524 101,785 19,616 19,189 103,233 69,028 69,028 69,028 227,788 DEBT SERVICE 430,748 439,058 1,401,643 311,200 485,433 473,760 476,350 886,685 ‐ OTHER FINANCING USES 27,627 35,545 37,009 37,009 37,009 37,009 37,009 37,009 37,009 TOTAL EXPENDITURES 563,048 589,927 1,488,112 372,984 640,675 594,797 597,387 1,007,722 279,797 EXCESS REVENUES OVER (UNDER) EXPENDITURES ‐ (0) 2,329 ‐ (0) 43,591 BEGINNING FUND BALANCE (2,329) (2,329) (2,329) ‐ ‐ ‐ ENDING FUND BALANCE (2,329) (2,329) (0) ‐ (0) 43,591

‐ 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 2014 2015 2016 2017 2018 2019 2020 2021 2022

TIF #3 BUSINESS PARK

REVENUES EXPENDITURES

5/31/2018 TIF #3

TI TID #4 #4 – WESTERN A AVENUE UE

TID #4 HIGHLIGHTS

DEVELOPER GRANTS

• LITTLE WOLF AUTOMOTIVE
• 2017 – 2022 VALUATION $650K

2017 ANNUAL REPORT ITEMS:

• FUNDING TO TID #8
• REFINANCED 2008 REFUNDING

BONDS

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 ‐ #10 FUNDS Actual Actual Actual Actual Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Prior Year Prior Year Prior Year Prior Year Amended Request Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Account Description 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 TAXES 665,137 683,934 726,513 689,668 712,414 712,414 712,414 712,414 712,414 712,414 712,414 712,414 712,414 712,414 712,414 712,414 712,414 712,414 712,414 INTERGOVERNMENTAL 1,271 1,511 6,772 4,373 4,373 4,373 4,373 4,373 4,373 4,373 4,373 4,373 4,373 4,373 4,373 4,373 4,373 4,373 4,373 MISCELLANEOUS 95,263 187,283 407,157 37,000 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ TOTAL REVENUES 761,671 872,728 1,140,443 731,041 716,787 716,787 716,787 716,787 716,787 716,787 716,787 716,787 716,787 716,787 716,787 716,787 716,787 716,787 716,787 CONSERVATION & DEVELOPMENT 1,418 218,555 17,903 14,271 17,413 23,413 23,413 11,000 11,000 11,000 11,000 9,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 DEBT SERVICE 672,059 765,861 1,376,888 45,331 242,670 130,870 131,660 98,981 72,345 70,802 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ OTHER FINANCING USES 88,195 7,109 8,250 150,039 421,897 139,191 136,594 132,665 123,521 119,159 8,250 199,436 239,385 235,013 229,489 222,779 214,846 8,250 4,125 TOTAL EXPENDITURES 761,671 991,525 1,403,041 209,641 681,980 293,474 291,667 242,646 206,866 200,961 19,250 208,436 244,385 240,013 234,489 227,779 219,846 13,250 9,125 EXCESS REVENUES OVER (UNDER) EXPENDITURES ‐ (118,797) (262,599) 521,399 34,807 423,313 425,120 474,141 509,921 515,826 697,537 508,351 472,402 476,774 482,298 489,008 496,941 703,537 707,662 BEGINNING FUND BALANCE ‐ ‐ (118,797) (381,395) 140,004 174,811 598,124 1,023,244 1,497,385 2,007,306 2,523,132 3,220,669 3,729,020 4,201,422 4,678,196 5,160,494 5,649,502 6,146,443 6,849,980 ENDING FUND BALANCE ‐ (118,797) (381,395) 140,004 174,811 598,124 1,023,244 1,497,385 2,007,306 2,523,132 3,220,669 3,729,020 4,201,422 4,678,196 5,160,494 5,649,502 6,146,443 6,849,980 7,557,642

TIF #4 ‐ WESTERN AVE

5/31/2018 TIF #4

TI TID #5 #5 – AIRPORT RT

TID #5 HIGHLIGHTS

2017 ANNUAL REPORT ITEMS:

• FUNDING FROM TID #6 and

DEBT SERVICE TAX LEVY

• 2018 OUTSTANDING DEBT

PREPAID

• RECOMMEND EARLY

TERMINATION IN 2018

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 ‐ #10 FUNDS Actual Actual Actual Actual Budget Budget Prior Year Prior Year Prior Year Prior Year Amended Request Account Description 2014 2015 2016 2017 2018 2019 TAXES 21,366 17,998 22,438 21,103 22,462 22,462 INTERGOVERNMENTAL 3 3 3 15 15 15 MISCELLANEOUS 13,343 3,531 5,368 ‐ ‐ ‐ OTHER FINANCING SOURCES 70,042 93,373 383,011 104,708 243,531 ‐ TOTAL REVENUES 104,754 114,905 410,820 125,826 266,008 22,477 CONSERVATION & DEVELOPMENT 930 289 7,229 775 5,000 5,000 DEBT SERVICE 103,824 114,616 330,053 67,109 261,008 17,477 TOTAL EXPENDITURES 104,754 114,905 337,282 67,884 266,008 22,477 EXCESS REVENUES OVER (UNDER) EXPENDITURES ‐ (0) 73,538 57,942 ‐ BEGINNING FUND BALANCE (131,480) (131,480) (131,480) (57,942) (0) ENDING FUND BALANCE (131,480) (131,480) (57,942) (0)

‐ 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 2014 2015 2016 2017 2018 2019

TIF #5 ‐ AIRPORT

REVENUES EXPENDITURES

5/31/2018 TIF #5

TI TID #6 #6 – W F FULT LTON

TID #6 HIGHLIGHTS

2017 ANNUAL REPORT ITEMS:

• FUNDING TO TID #3 & #5

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 ‐ #10 FUNDS Actual Actual Actual Actual Budget Budget Budget Budget Budget Prior Year Prior Year Prior Year Prior Year Amended Request Projection Projection Projection Account Description 2014 2015 2016 2017 2018 2019 2020 2021 2022 TAXES 584,877 557,946 576,760 549,472 670,864 666,434 666,434 666,434 666,434 INTERGOVERNMENTAL 2,554 8,417 1,069 916 1,000 1,000 1,000 1,000 1,000 MISCELLANEOUS 139,487 12,424 56,742 8,688 ‐ ‐ ‐ ‐ ‐ OTHER FINANCING SOURCES 259,091 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ TOTAL REVENUES 986,009 578,787 634,571 559,077 671,864 667,434 667,434 667,434 667,434 CONSERVATION & DEVELOPMENT 930 243 4,734 775 5,000 5,000 5,000 ‐ ‐ DEBT SERVICE 599,306 388,431 388,775 383,006 59,375 ‐ ‐ ‐ ‐ OTHER FINANCING USES 262,886 190,113 241,062 175,296 576,258 286,849 289,439 699,774 ‐ TOTAL EXPENDITURES 863,122 578,787 634,571 559,077 640,633 291,849 294,439 699,774 ‐ EXCESS REVENUES OVER (UNDER) EXPENDITURES 122,887 (0) (0) (0) 31,231 375,585 372,995 (32,340) 667,434 BEGINNING FUND BALANCE (122,887) (0) (0) 31,231 406,816 779,811 747,471 ENDING FUND BALANCE (0) (0) 31,231 406,816 779,811 747,471 1,414,905

‐ 200,000 400,000 600,000 800,000 1,000,000 1,200,000 2014 2015 2016 2017 2018 2019 2020 2021 2022

TIF #6 ‐ W FULTON ST (FOXFIRE)

REVENUES EXPENDITURES

5/31/2018 TIF #6

TI TID #7 #7 – WARE S STREET

TID #7 HIGHLIGHTS

2017 EARLY TERMINATION REQUEST SUBMITTED INCREMENT VALUE RETURNED TO TAX BASE IN 2018: $3,446,000 COSTS TO BE REFUNDED TO OVERLYING DISTRICTS – 2018 WAUPACA COUNTY $20,706 CITY OF WAUPACA $29,845 WAUPACA SCHOOL DISTRICT $34,195 FOX VALLEY TECH COLLEGE $ 3,438 TOTAL DISTRIBUTION $88,184

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 ‐ #10 FUNDS Actual Actual Actual Actual Budget Prior Year Prior Year Prior Year Prior Year Amended Account Description 2014 2015 2016 2017 2018 TAXES 50,685 53,995 59,729 84,919 95,856 INTERGOVERNMENTAL 1,143 1,818 1,228 829 ‐ OTHER FINANCING SOURCES 10,592 5,561 ‐ ‐ ‐ TOTAL REVENUES 62,420 61,374 60,957 85,748 95,856 CAPITAL OUTLAY 62,021 159 5,982 775 2,107 DEBT SERVICE 21,875 21,400 20,875 20,300 ‐ OTHER FINANCING USES 5,525 7,109 8,250 24,402 62,361 TOTAL EXPENDITURES 89,421 28,668 35,107 45,477 64,468 EXCESS REVENUES OVER (UNDER) EXPENDITURES (27,002) 32,706 25,850 40,271 31,388 BEGINNING FUND BALANCE (15,030) (42,032) (9,326) 16,525 56,796 ENDING FUND BALANCE (42,032) (9,326) 16,525 56,796 88,184

‐ 20,000 40,000 60,000 80,000 100,000 120,000 2014 2015 2016 2017 2018

TIF #7 ‐ WARE STREET

REVENUES EXPENDITURES

5/31/2018 TIF #7

TI TID #8 #8 – EAST G T GATEW EWAY

TID #8 HIGHLIGHTS

2017 ANNUAL REPORT ITEMS:

• FUNDING FROM TID #4
• REFINANCED 2008 REFUNDING

BONDS IN 2018

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 ‐ #10 FUNDS Actual Actual Actual Actual Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Prior Year Prior Year Prior Year Prior Year Amended Request Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Account Description 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 TAXES 68,993 71,994 85,715 77,730 146,227 150,614 155,132 159,786 164,580 169,517 174,603 179,841 185,236 190,793 196,517 202,412 208,485 214,739 221,181 INTERGOVERNMENTAL 1,633 1,505 3,182 3,248 3,248 3,248 3,248 3,248 3,248 3,248 3,248 3,248 3,248 3,248 3,248 3,248 3,248 3,248 3,248 MISCELLANEOUS 28,362 19,045 45,230 41,818 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ OTHER FINANCING SOURCES 115,101 188,318 ‐ 141,789 413,647 130,941 128,344 124,415 115,271 110,909 ‐ 191,186 231,135 226,763 221,239 214,529 206,596 ‐ ‐ TOTAL REVENUES 214,088 280,862 134,127 264,586 563,122 284,803 286,724 287,449 283,099 283,674 177,851 374,275 419,619 420,804 421,004 420,189 418,329 217,987 224,429 CONSERVATION & DEVELOPMENT 966 2,094 23,071 3,043 7,382 5,250 5,250 5,250 5,250 5,250 5,250 5,723 2,500 2,500 2,500 2,500 2,500 ‐ ‐ CAPITAL OUTLAY ‐ ‐ ‐ ‐ 165,000 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ DEBT SERVICE 253,248 257,679 260,443 261,543 262,443 279,553 281,474 282,199 277,849 278,424 126,174 414,979 417,119 418,304 418,504 417,689 415,829 ‐ ‐ TOTAL EXPENDITURES 254,214 259,772 283,514 264,586 434,825 284,803 286,724 287,449 283,099 283,674 131,424 420,702 419,619 420,804 421,004 420,189 418,329 ‐ ‐ EXCESS REVENUES OVER (UNDER) EXPENDITURES (40,126) 21,090 (149,387) ‐ 128,297 (0) (0) 46,427 (46,427) (0) (0) (0) 217,987 224,429 BEGINNING FUND BALANCE 40,126 21,090 (128,297) (128,297) (0) 46,427 (0) (0) (0) (0) (0) (0) 217,987 ENDING FUND BALANCE 21,090 (128,297) (128,297) (0) 46,427 (0) (0) (0) (0) (0) (0) 217,987 442,416 BEG FUND BALANCE W/UTILITY DEBT (7,435,571) (7,475,697) (7,454,607) (7,603,994) (7,603,994) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,429,270) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,257,710) END FUND BALANCE W/UTILITY DEBT (7,475,697) (7,454,607) (7,603,994) (7,603,994) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,429,270) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,475,697) (7,257,710) (7,033,281)

TIF #8 ‐ EAST GATEWAY

5/31/2018 TIF #8

TI TID #9 #9 – ROYALTON S STREET

TID #9 HIGHLIGHTS

2017 ANNUAL REPORT ITEMS:

• NO INCREMENT
• NEGATIVE VALUE
• BUYER’S GUIDE BLDG SOLD 2018

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 ‐ #10 FUNDS Actual Actual Actual Actual Budget Budget Budget Budget Prior Year Prior Year Prior Year Prior Year Amended Request Projection Projection Account Description 2014 2015 2016 2017 2018 2019 2020 2021 TAXES ‐ ‐ ‐ ‐ ‐ ‐ ‐ INTERGOVERNMENTAL 8,145 5,711 3,277 1,662 1,662 ‐ 1,662 1,662 OTHER FINANCING SOURCES ‐ ‐ ‐ 12,776 54,860 ‐ ‐ ‐ TOTAL REVENUES 8,145 5,711 3,277 14,438 56,522 ‐ 1,662 1,662 CONSERVATION & DEVELOPMENT 930 150 2,133 775 1,500 1,100 1,100 1,100 OTHER FINANCING USES 7,215 5,561 1,777 ‐ 1,777 1,000 119,169 500 TOTAL EXPENDITURES 8,145 5,711 3,910 775 3,277 2,100 120,269 1,600 EXCESS REVENUES OVER (UNDER) EXPENDITURES ‐ ‐ (633) 13,663 53,245 (2,100) (118,607) 62 BEGINNING FUND BALANCE 198,741 198,741 198,741 198,108 211,771 265,016 262,916 144,309 . . ENDING FUND BALANCE 198,741 198,741 198,108 211,771 265,016 262,916 144,309 144,371

‐ 20,000 40,000 60,000 80,000 100,000 120,000 140,000 2014 2015 2016 2017 2018 2019 2020 2021

TIF #9 ‐ ROYALTON STREET

REVENUES EXPENDITURES

5/31/2018 TIF #9

TI TID #10 #10 – BADGER S STREET

TID #10 HIGHLIGHTS

2017 ANNUAL REPORT ITEMS:

• 2016 PREPAYMENT OF

DEVELOPER GUARANTEE BY DOWNTOWN APARTMENTS RETAINED FOR FUTURE DEBT SERVICE.

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 ‐ #10 FUNDS Actual Actual Actual Actual Budget Budget Budget Budget Prior Year Prior Year Prior Year Prior Year Amended Request Projection Projection Account Description 2014 2015 2016 2017 2018 2019 2020 2021 TAXES 85,006 89,991 90,063 86,561 87,036 87,036 87,036 87,036 INTERGOVERNMENTAL ‐ 76 50 29 29 29 29 29 MISCELLANEOUS 22,277 22,305 150,927 ‐ ‐ ‐ ‐ ‐ OTHER FINANCING SOURCES 12,759 10,544 ‐ ‐ ‐ ‐ 118,669 ‐ TOTAL REVENUES 120,043 122,916 241,040 86,590 87,065 87,065 205,734 87,065 CONSERVATION & DEVELOPMENT 930 165 4,063 775 5,000 5,000 5,000 5,000 DEBT SERVICE 112,843 115,643 118,080 115,205 102,243 104,165 200,675 ‐ OTHER FINANCING USES 5,525 7,109 8,250 8,250 8,250 8,250 8,250 8,250 TOTAL EXPENDITURES 119,298 122,917 130,393 124,230 115,493 117,415 213,925 13,250 EXCESS REVENUES OVER (UNDER) EXPENDITURES 745 (0) 110,647 (37,640) (28,428) (30,350) (8,191) 73,815 BEGINNING FUND BALANCE (6,784) (6,039) (6,040) 104,609 66,969 38,541 8,191 (0) ENDING FUND BALANCE (6,039) (6,040) 104,609 66,969 38,541 8,191 (0) 73,815

‐ 50,000 100,000 150,000 200,000 250,000 300,000 2014 2015 2016 2017 2018 2019 2020 2021

TIF #10 ‐ BADGER STREET

REVENUES EXEPENDITURES

5/31/2018 TIF #10

Questions?