Winnetka Village Council STUDY SESSION Village Hall 510 Green Bay Road December 12, 2017 AGENDA

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1 Winnetka Village Council STUDY SESSION Village Hall 510 Green Bay Road December 12, 2017 AGENDA s regarding any agenda item are welcomed. Please and your will be relayed to the Council. s for a Tuesday Council meeting must be received by Monday at 4 p.m. Any may be subject to disclosure under the Freedom of Information Act. 1) Call to Order 2) Public Comment 1) Tax Increment Financing (TIF) Phase II- Costs and Goals...2 2) Closed Session 3) Adjournment NOTICE All agenda materials are available at villageofwinnetka.org (Government > Council Information > Agenda Packets & Minutes); the Reference Desk at the Winnetka Library; or in the Manager s Office at Village Hall (2 nd floor). Webcasts of the meeting may be viewed on the Internet via a link on the Village s web site: The Village of Winnetka, in compliance with the Americans with Disabilities Act, requests that all persons with disabilities who require certain accommodations to allow them to observe and/or participate in this meeting or have questions about the accessibility of the meeting or facilities, contact the Village ADA Coordinator Megan Pierce, at 510 Green Bay Road, Winnetka, Illinois 60093, ; T.D.D Agenda Packet P. 1

2 Title: Agenda Item Executive Summary Presenter: Megan E. Pierce, Assistant Village Manager Agenda Date: 12/12/2017 Ordinance Resolution Bid Authorization/Award Consent: YES NO Policy Direction Informational Only Item History: March 7, 2017 April 18, 2017 July 11, 2017 October 10, 2017 Tax Increment Financing (TIF) Phase II- Costs and Goals Executive Summary: In October, Staff and representatives from Ehlers & Associates reviewed the components of Phase II of the Village's Tax Increment Financing (TIF) evaluation: creation of a Redevelopment Plan. The Study Session provided background on TIF-eligible expenses and typical approaches for determining project costs and a budget. The Council asked Staff to provide more detail on the potential public projects and improvements, and their associated costs before further directing the drafting of the Redevelopment Plan. Staff, and Maureen Barry from Ehlers, will be present on December 12 to review the Phase II project requirements as well as the updated and detailed tax and increment financial data. With Council direction, Ehlers will complete Phase II work, at which time the Council will determine whether to proceed to Phase III, Project Adoption. Phase III is the longest project component, as it is driven by the Joint Review Board, community engagement, and formal TIF material adoption. Ehlers has provided a Potential Adoption Schedule, which is included here. As requested in October, Staff is sharing the TR Mandigo & Company report from 2016 that David Trandel provided to estimate One Winnetka's impacts. Recommendation: Provide policy direction on Redevelopment Plan costs and goals. Attachments: 1) TIF Redevelopment Budget- Potential Eligible Expenses 2) Tax and Increment Revenue Projections 3) Ehlers & Associates October 10, 2017 Study Session Presentation 4) Comparable Community TIF Redevelopment Project Costs 5) Ehlers Downtown TIF Potential Adoption Schedule 6) TR Mandigo & Company Report (One Winnetka Impact Analysis, March 2016) Agenda Packet P. 2

3 TIF Redevelopment Budget Potential Eligible Expenses Attachment #1 Category: Potential Infrastructure Projects Project Budget Estimate Notes Updated E/W Elm Streetscape Program $5.10 M Estimate includes sidewalks (concrete & pavers), curbs, tree grates, vegetation, etc. One Winnetka Streetscape Contribution $1.8 M The above Streetscape estimate would be reduced by approximately this amount for items specified in the One Winnetka Redevelopment Agreement Downtown Streetscape Lighting $2.05 M As quoted in the TIF Feasability Study (updated with additional electrical items) KIM Pole Upgrades $321 K Labor & material for an upgraded standard pole New Water Main- Chestnut $270 K Chestnut Street (Spruce to Elm)- $113,311. Chestnut Street (Elm to Oak)- $157,058. There is an existing 6" main from Elm Street to Chestnut Court that should be evaluated to resize to 16" main for future development Electrical Undergrounding $593 K Includes Fish Alley, Lincoln Avenue, and Winnetka Community House, but without costs for AT&T, CATV or customer-owned service equipment Roadway Replacement $1.0 M Estimate based on milling, resurfacing and base repair of roads for (Spruce, Elm, Chestnut, Lincoln, and Oak) Gateway Program & Signage $300 K Includes 2 district gateway signs & 4 kiosks based on the Lakota Plan and materials/industry unit costs Wayfinding Program & Signage $331 K Includes 2 district directional signs, 15 parking directional signs, and 6 parking identity signs based on the Lakota Plan and materials/industry unit costs Category: Future Planning - Public Improvements Project Budget Estimate Notes Green Bay Road "Diet" (Oak Street to Spruce Street) Potential Jurisdictional Transfer $1.35 M Estimate includes sidewalk construction & pavement removal, pavement marking, milling & resurfacing, traffic signal, design & construction engineering, and contingency Green Bay Road Realignment (Oak Street to Elm Street) Potential Jurisdictional Transfer $2.63 M Estimate includes road diet of Elm Street to Spruce Street only, sidewalk pavement, pavement marking, milling & resurfacing, pavement removal (full depth), full depth pavement, traffic signal, design & construction engineering, and contigency Agenda Packet P. 3

4 TIF Redevelopment Budget Potential Eligible Expenses Project Budget Estimate Notes Elm Street Bridge Redesign Village Parking Lot Surface Replacement $473 K $1.70 M Estimate includes sidewalk construction & pavement removal, pavement marking, milling & resurfacing, landscaping, design & construction engineering, and contingency Replacement of parking lots with concrete (excluding Lincoln Avenue and others related to One Winnetka) Water Main Stubs/Supression Extension $125 K Estimate to facilitate installation of new private sprinklers and which includes Elm Street Only (Lincoln Avenue to Maple Street) Category: Economic Development Programming Project Budget Estimate Notes Sprinkler Cost Sharing $800 K Average fee rebate estimated to be $4,000. Only applies to change of use. Estimate includes 20 change of uses over a 23-year period Electric Vehicle Charging Stations $35 K Budgeted at $17,433 per installation Façade Improvement Program $350 K More precise estimate would require understanding of program goals/objectives Site Development / Assembly- (Post Office, etc.) $1.0 M Estimate based on "basic site"- demolition, grading, and initial environmental work Category: Consulting Services Project Budget Estimate Notes TIF Legal $50 K Average cost that does not anticipate significant legal needs Ehlers & Associates Consulting $45 K Existing scope of work is $38,000 Parking Study $35 K Estimate to update Village's existing 2006 study Agenda Packet P. 4

5 Attachment #2 Village of Winnetka Downtown Redevelopment Project Area Incremental Property Tax Revenue (Comparative- One Winnetka v. Inflationary Revenues) TIF Year Tax Year Project Area EAV (w/one Winnetka) Project Area EAV (Inflationary Only) Taxable Incremental EAV (w/one Winnetka) Taxable Incremental EAV (Inflationary Only) VOW Incremental Property Tax Revenues (w/one Winnetka) Cumulative Total (w/one Winnetka) VOW Incremental Property Tax Revenues (Inflationary Only) Cumulative Total (Inflationary Only) Base EAV 2015 $ 34,246,012 $ 34,246, $ 34,246,012 $ 34,246, $ 34,246,012 $ 34,246,012 $ - $ $ 34,246,012 $ 34,246,012 $ 2,740,883 $ - $ - $ - $ - $ $ 38,551,197 $ 35,810,314 $ 13,898,276 $ 1,564,302 $ 252,709 $ 252,709 $ - $ $ 48,144,288 $ 35,810,314 $ 23,491,367 $ 1,564,302 $ 1,281,421 $ 1,534,130 $ 144,229 $ 144, $ 57,737,379 $ 35,810,314 $ 28,973,133 $ 1,564,302 $ 2,165,904 $ 3,700,034 $ 144,229 $ 288, $ 65,420,456 $ 37,446,071 $ 31,174,444 $ 3,200,059 $ 2,671,323 $ 6,371,357 $ 144,229 $ 432, $ 65,420,456 $ 37,446,071 $ 31,174,444 $ 3,200,059 $ 2,874,284 $ 9,245,641 $ 295,045 $ 727, $ 65,420,456 $ 37,446,071 $ 31,174,444 $ 3,200,059 $ 2,874,284 $ 12,119,925 $ 295,045 $ 1,022, $ 68,408,756 $ 39,156,547 $ 34,162,744 $ 4,910,535 $ 2,874,284 $ 14,994,209 $ 295,045 $ 1,317, $ 68,408,756 $ 39,156,547 $ 34,162,744 $ 4,910,535 $ 3,149,805 $ 18,144,014 $ 452,751 $ 1,770, $ 68,408,756 $ 39,156,547 $ 34,162,744 $ 4,910,535 $ 3,149,805 $ 21,293,819 $ 452,751 $ 2,223, $ 71,533,557 $ 40,945,154 $ 37,287,545 $ 6,699,142 $ 3,149,805 $ 24,443,624 $ 452,751 $ 2,676, $ 71,533,557 $ 40,945,154 $ 37,287,545 $ 6,699,142 $ 3,437,912 $ 27,881,535 $ 617,661 $ 3,293, $ 71,533,557 $ 40,945,154 $ 37,287,545 $ 6,699,142 $ 3,437,912 $ 31,319,447 $ 617,661 $ 3,911, $ 74,801,094 $ 42,815,462 $ 40,555,082 $ 8,569,450 $ 3,437,912 $ 34,757,359 $ 617,661 $ 4,529, $ 74,801,094 $ 42,815,462 $ 40,555,082 $ 8,569,450 $ 3,739,179 $ 38,496,537 $ 790,103 $ 5,319, $ 74,801,094 $ 42,815,462 $ 40,555,082 $ 8,569,450 $ 3,739,179 $ 42,235,716 $ 790,103 $ 6,109, $ 78,217,886 $ 44,771,203 $ 43,971,874 $ 10,525,191 $ 3,739,179 $ 45,974,894 $ 790,103 $ 6,899, $ 78,217,886 $ 44,771,203 $ 43,971,874 $ 10,525,191 $ 4,054,207 $ 50,029,101 $ 970,423 $ 7,869, $ 78,217,886 $ 44,771,203 $ 43,971,874 $ 10,525,191 $ 4,054,207 $ 54,083,308 $ 970,423 $ 8,840, $ 81,790,752 $ 46,816,279 $ 47,544,740 $ 12,570,267 $ 4,054,207 $ 58,137,515 $ 970,423 $ 9,810, $ 81,790,752 $ 46,816,279 $ 47,544,740 $ 12,570,267 $ 4,383,625 $ 62,521,140 $ 1,158,979 $ 10,969, $ 81,790,752 $ 46,816,279 $ 47,544,740 $ 12,570,267 $ 4,383,625 $ 66,904,765 $ 1,158,979 $ 12,128, Year Increment 23-Year Increment 23-Year Increment 23-Year Increment $ 4,383,625 $ 71,288,390 $ 1,158,979 $ 13,287,573 Total $ 71,288,390 $ 13,287,573 Total w/97% Collection $ 69,149,738 $ 12,888,945 Notes: [1] Estimated Base EAV (TY2015) of Project Area (subject to certification by Cook County). Tax Year 2016 values will be used if the TIF is adopted prior to the availability of Tax Year 2017 values (expected in Spring 2018). [2] Estimated annual inflation rates are a conservative 1.5% throughout the model. [3] Estimated increase in EAV of future improvements. These projections only include the One Winnetka project. Market value is based on construction cost. Construction cost estimate is $74.7MM (Construction $67.5MM + $7.2MM land per appraisal) per Village of Winnetka We assume market value attributable to the commercial portion is 25% and 75% to the residential. We assume construction will start in Spring 2018, with partial occupancy and assessments , and 100% occupancy of residential and commercial space in 2021: [4] See July 11, 2017 Feasibility Analysis for other notes and assumptions. $ 27,408, Est. EAV Workbook (Village) EHLERS Select TDs Cumulative Agenda Packet P. 5

6 Village of Winnetka Downtown Redevelopment Project Area Incremental Property Tax Revenue By Taxing District (Comparative- One Winnetka v. Inflationary Revenues) School District 36, New Trier Township School District #203, Winnetka Park District, Winnetka-Northfield Public Library, and Village of Winnetka Only. Tax Collection Year School District #36 (w/inflation & Projects) School District #36 (Inflation Only) New Trier Township High School #203 (w/inflation & Projects) New Trier Township High School #203 (Inflation Only) Winnetka Park District (w/inflation & Projects) Winnetka Park District (Inflation Only) Winnetka- Northfield Public Library (w/inflation & Projects) Winnetka- Northfield Public Library (Inflation Only) Village of Winnetka (w/inflation & Growth) Village of Winnetka (Inflation Only) Taxing District Tax Rate % of Tax Rate 38.42% 38.42% 25.81% 25.81% 4.54% 4.54% 2.67% 2.67% 13.05% 13.05% TOTAL (w/inflation & Growth) Cumulative Total (w/inflation & Growth) TOTAL (Inflation Only) Cumulative Total (Inflation Only) 2019 $ 97,082 $ - $ 65,233 $ - $ 11,484 $ - $ 6,743 $ - $ 32,973 $ - $ 213,515 $ 213,515 $ - $ $ 492,277 $ 55,408 $ 330,779 $ 37,230 $ 58,234 $ 6,554 $ 34,190 $ 3,848 $ 167,196 $ 18,819 $ 1,082,676 $ 1,296,190 $ 121,859 $ 121, $ 832,064 $ 55,408 $ 559,095 $ 37,230 $ 98,429 $ 6,554 $ 57,789 $ 3,848 $ 282,601 $ 18,819 $ 1,829,977 $ 3,126,168 $ 121,859 $ 243, $ 1,026,228 $ 55,408 $ 689,561 $ 37,230 $ 121,397 $ 6,554 $ 71,274 $ 3,848 $ 348,547 $ 18,819 $ 2,257,007 $ 5,383,175 $ 121,859 $ 365, $ 1,104,199 $ 113,346 $ 741,952 $ 76,161 $ 130,621 $ 13,408 $ 76,689 $ 7,872 $ 375,029 $ 38,497 $ 2,428,489 $ 7,811,664 $ 249,285 $ 614, $ 1,104,199 $ 113,346 $ 741,952 $ 76,161 $ 130,621 $ 13,408 $ 76,689 $ 7,872 $ 375,029 $ 38,497 $ 2,428,489 $ 10,240,153 $ 249,285 $ 864, $ 1,104,199 $ 113,346 $ 741,952 $ 76,161 $ 130,621 $ 13,408 $ 76,689 $ 7,872 $ 375,029 $ 38,497 $ 2,428,489 $ 12,668,643 $ 249,285 $ 1,113, $ 1,210,044 $ 173,931 $ 813,073 $ 116,871 $ 143,142 $ 20,575 $ 84,040 $ 12,080 $ 410,978 $ 59,074 $ 2,661,278 $ 15,329,920 $ 382,531 $ 1,495, $ 1,210,044 $ 173,931 $ 813,073 $ 116,871 $ 143,142 $ 20,575 $ 84,040 $ 12,080 $ 410,978 $ 59,074 $ 2,661,278 $ 17,991,198 $ 382,531 $ 1,878, $ 1,210,044 $ 173,931 $ 813,073 $ 116,871 $ 143,142 $ 20,575 $ 84,040 $ 12,080 $ 410,978 $ 59,074 $ 2,661,278 $ 20,652,476 $ 382,531 $ 2,261, $ 1,320,725 $ 237,284 $ 887,444 $ 159,440 $ 156,235 $ 28,069 $ 91,727 $ 16,480 $ 448,569 $ 80,591 $ 2,904,700 $ 23,557,176 $ 521,863 $ 2,782, $ 1,320,725 $ 237,284 $ 887,444 $ 159,440 $ 156,235 $ 28,069 $ 91,727 $ 16,480 $ 448,569 $ 80,591 $ 2,904,700 $ 26,461,875 $ 521,863 $ 3,304, $ 1,320,725 $ 237,284 $ 887,444 $ 159,440 $ 156,235 $ 28,069 $ 91,727 $ 16,480 $ 448,569 $ 80,591 $ 2,904,700 $ 29,366,575 $ 521,863 $ 3,826, $ 1,436,461 $ 303,530 $ 965,211 $ 203,953 $ 169,926 $ 35,906 $ 99,766 $ 21,081 $ 487,878 $ 103,090 $ 3,159,241 $ 32,525,816 $ 667,560 $ 4,494, $ 1,436,461 $ 303,530 $ 965,211 $ 203,953 $ 169,926 $ 35,906 $ 99,766 $ 21,081 $ 487,878 $ 103,090 $ 3,159,241 $ 35,685,057 $ 667,560 $ 5,161, $ 1,436,461 $ 303,530 $ 965,211 $ 203,953 $ 169,926 $ 35,906 $ 99,766 $ 21,081 $ 487,878 $ 103,090 $ 3,159,241 $ 38,844,298 $ 667,560 $ 5,829, $ 1,557,484 $ 372,802 $ 1,046,531 $ 250,500 $ 184,242 $ 44,101 $ 108,171 $ 25,892 $ 528,982 $ 126,618 $ 3,425,409 $ 42,269,707 $ 819,912 $ 6,649, $ 1,557,484 $ 372,802 $ 1,046,531 $ 250,500 $ 184,242 $ 44,101 $ 108,171 $ 25,892 $ 528,982 $ 126,618 $ 3,425,409 $ 45,695,116 $ 819,912 $ 7,469, $ 1,557,484 $ 372,802 $ 1,046,531 $ 250,500 $ 184,242 $ 44,101 $ 108,171 $ 25,892 $ 528,982 $ 126,618 $ 3,425,409 $ 49,120,525 $ 819,912 $ 8,289, $ 1,684,035 $ 445,239 $ 1,131,565 $ 299,172 $ 199,212 $ 52,669 $ 116,960 $ 30,923 $ 571,963 $ 151,220 $ 3,703,735 $ 52,824,260 $ 979,224 $ 9,268, $ 1,684,035 $ 445,239 $ 1,131,565 $ 299,172 $ 199,212 $ 52,669 $ 116,960 $ 30,923 $ 571,963 $ 151,220 $ 3,703,735 $ 56,527,995 $ 979,224 $ 10,247, $ 1,684,035 $ 445,239 $ 1,131,565 $ 299,172 $ 199,212 $ 52,669 $ 116,960 $ 30,923 $ 571,963 $ 151,220 $ 3,703,735 $ 60,231,730 $ 979,224 $ 11,226,702 Total $ 27,386,494 $ 5,104,618 $ 18,401,992 $ 3,429,981 $ 3,239,678 $ 603,850 $ 1,902,055 $ 354,527 $ 9,301,511 $ 1,733,726 Notes: [1] Estimated Base EAV (TY2015) of Project Area (subject to certification by Cook County). Tax Year 2016 values will be used if the TIF is adopted prior to the availability of Tax Year 2017 values (expected in Spring 2018). [2] Estimated annual inflation rates are a conservative 1.5% throughout the model. [3] Estimated increase in EAV of future improvements. These projections only include the One Winnetka project. Market value is based on construction cost. Construction cost estimate is $74.7MM (Construction $67.5MM + $7.2MM land per appraisal) per Village of Winnetka We assume market value attributable to the commercial portion is 25% and 75% to the residential. We assume construction will start in Spring 2018, with partial occupancy and assessments , and 100% occupancy of residential and commercial space in 2021: [4] See July 11, 2017 Feasibility Analysis for other notes and assumptions. $ 27,408,831 Est. EAV Workbook (Village) EHLERS Select TDs Cumulative Agenda Packet P. 6

7 Attachment #3 TIF Study Session Village of Winnetka Maureen Barry & Jennifer Tammen Municipal Advisors October 10, Agenda Packet P. 7

8 Agenda Phase 2 Work Redevelopment Project Costs Redevelopment Plan Goals 2 Agenda Packet P. 8

9 Phase 2 Work Preparation of the Redevelopment Plan Village direction: Redevelopment Project Costs Plan Goals Coordinate with Village Attorney for Legal Description of Redevelopment Project Area (RPA) 3 Agenda Packet P. 9

10 Redevelopment Project Costs vs. TIF Budget Redevelopment Project Costs are the portion of the Redevelopment Plan that designates the maximum TIF dollar expenditures over the TIF s life (required at this time). Money can be transferred between individual line items, but actual spending cannot exceed the total amount without amending the Redevelopment Plan (must go through Public Adoption process). A TIF Budget may be created and updated annually as part of, or separate from, the annual Village budget process (Not required at this point). 4 Agenda Packet P. 10

11 Redevelopment Project Costs vs. Municipal Budget LONG TERM Required for TIF Designation Redevelopment Project Costs 23 Year TIF Life Intentionally Broad Not a budget Redevelopment Goals SHORT/MID TERM Municipal Budgeting CIP May include TIF public improvements Village Annual Budget Operating Funds TIF Allocation Fund Legally separate 5 Agenda Packet P. 11

12 Redevelopment Project Cost Rules Cost categories are defined by TIF statute. Some value (even minimal) must be included in a cost category in order to use it at any point over the TIF term. Much can change in 23 years so be careful about unnecessary restrictions. Costs are stated in current values, but inflation (5% plus or minus CPI annually) can be factored in during the TIF term. These numbers are only what the Village can spend from the TIF fund (from the increment generated by TIF). They cannot include private investments/project spending. 6 Agenda Packet P. 12

13 Preliminary Increment Projections *See pg. 26 of the July 2017 Feasibility Study for complete table of projections 7 Agenda Packet P. 13

14 Redevelopment Project Costs Redevelopment Project Costs can be ballpark figures, as they are maximums. They should correlate to the expected increment of the area as referenced in previous slide (ideally, higher than projected value, or may need to amend). Actual expenditures of TIF funds are effectively limited by the amount of increment generated by the TIF. Redevelopment Project Costs are not intended to function as an annual or even shorter term budget for the TIF Fund. As long as the total expenditures over the life of the TIF do not exceed the total amount of Redevelopment Project Costs, there should be no conflict. 8 Agenda Packet P. 14

15 TIF Eligible Expenses Only certain costs are eligible for TIF reimbursement Examples Cost of studies and surveys Costs associated with land acquisition and site preparation including demolition and environmental remediation Costs of rehabilitation and repair of buildings Costs of construction of public works or improvements (street, water, sewer) Costs of job training and retaining programs Relocation costs Certain financing costs Any expenditure or reimbursement of expenses must be approved by the corporate authorities (Village Council). 9 Agenda Packet P. 15

16 Potential Public Improvements / Projects Infrastructure & Improvements: Downtown streetscape program Streetscape lighting & upgrades Downtown signage program Green Bay Road & corridor roadwork & enhancements Electrical service undergrounding Site development & assembly Roadway & parking lot surface replacement Sanitary sewer replacement New & replacement water mains Professional Services & Programs: TIF consultant costs Legal services Downtown parking study Financing or debt issuance costs Bond / issuer counsel Incentive programs such as fire sprinklers or façade improvement 10 Agenda Packet P. 16

17 Redevelopment Plan Goal(s) primary goal is to reduce/eliminate the conditions that qualify the RPA as a Conservation Area Objectives Program Implementation and Strategies Comparable community TIF Plans Utilize broad goals for Redevelopment Plan 11 Agenda Packet P. 17

18 Maureen Barry Senior Municipal Advisor/Vice President Phone: (312) Jennifer M. Tammen Municipal Advisor/Principal Phone: (312) Agenda Packet P. 18

19 Attachment #4 Village of Winnetka Comparable Community or TIF Redevelopment Project Costs Municipality Winnetka Northbrook Highland Park Lake Forest Lisle Glenview TIF District Proposed Downtown Dundee Rd/Skokie Bd Redevelopment Project Ravinia BD TIF Redevelopment Plan Laurel and Western Avenues Downtown TIF Redevelopment Plan Waukegan Rd/Golf Rd Plan Date Early 2018 February 2006 (amended in March 2014) May 2005 October 2014 March 2015 March 2013 Number of Parcels Number of Acres acres 24.7 acres (34 buildings) acres Base EAV 2015 EAV: $34,246, EAV: $2,625, EAV: $6,643, EAV: $96, EAV: $2,445, EAV: $4,967,054 Anticipated EAV $81,790,752 $11,000,000 to $15,000,000 $28,000,000 $30,500,000 $12,500,000 - $15,500,000 $23,000,000 to $27,000,000 Anticipated Incremental EAV (Difference between Base EAV and Anticipated EAV) $47,545,000 $8,375,000 to $12,375,000 $21,356,000 $30,403,370 $10,054,340 to $13,054,340 $18,033,000 to $22,033,000 Total Redevelopment Project Costs $5,000,000 $10,000,000 $31,281,000 $17,500,000 $6,500,000 Total Redevelopment Project Costs as % of Anticipated Incremental EAV 40% - 60% 47% 103% 134% - 174% 30% - 36% Sources: Redevelopment Plan and Project Reports from area municipalities and Ehlers. Agenda Packet P. 19

20 Village of Winnetka Comparable Community or TIF Redevelopment Project Costs Municipality Winnetka Skokie Skokie Evanston Evanston Evanston TIF District Proposed Downtown West Dempster TIF District Downtown Science + Technology TIF District Redevelopment Plan Chicago Main Dempster/Dodge West Evanston (Dodge Avenue and Church St TIF District) Plan Date Early 2018 November 2010 October 2005 January 2013 June 2012 May 2005 Number of Parcels Number of Acres 41 not specified (but more than 1.5 acres) 23 acres (incl. 13 buildings) not specified (but more than 1.5 acres) 200,000 sqft of built space not specified (but more than 1.5 acres) Base EAV 2015 EAV: $34,246, EAV: $32,746, EAV: $35,724, EAV: $11,489, EAV: $10,816, EAV: $21,818,697 Anticipated EAV $81,790,752 $77,000,000 $60,000,000 $30,000,000 to $35,000,000 $30,000,000 to $35,000,000 $50,000,000 Anticipated Incremental EAV (Difference between Base EAV and Anticipated EAV) $47,545,000 $44,250,000 $24,275,000 $18,510,000 to $23,510,000 $19,180,000 to $24,183,000 $28,181,000 Total Redevelopment Project Costs Total Redevelopment Project Costs as % of Anticipated Incremental EAV $29,700,000 $19,250,000 $25,000,000 $20,000,000 $25,500,000 67% 79% 106% - 135% 83% - 104% 90% Agenda Packet P. 20

21 Village of Winnetka Comparable Community or TIF Redevelopment Project Costs Municipality Winnetka Evanston Wheaton Wheaton Champaign Oswego TIF District Proposed Downtown Howard and Ridge TIF 1 Downton Wheaton TIF 2 Wheaton Main Street Downtown Fringe TIF District Oswego Downtown TIF (Main St/Washington St) Plan Date Early 2018 January 2004 May 1993 (amended in August 2006, expired in December 2016) November 1999 (amended in January 2002, September 2004, February 2005) December 2016 May 2016 Number of Parcels Number of Acres 41 not specified (but more than 1.5 acres) not specified (but more than 1.5 acres) Base EAV 2015 EAV: $34,246, EAV: $5,980, EAV: $4,675, EAV: $11,512, EAV: $20,028, EAV: $7,571,485 Anticipated EAV $81,790,752 $21,500,000 Not specified $53,000,000 $40,000,000 $31,000,000 to $34,000,000 Anticipated Incremental EAV (Difference between Base EAV and Anticipated EAV) $47,545,000 $15,520,000 Not specified * $41,487,930 $19,971,260 $23,428,515 to $26,428,515 Total Redevelopment Project Costs Total Redevelopment Project Costs as % of Anticipated Incremental EAV $7,950,000 $30,156,999 $24,300,000 $40,000,000 $24,000,000 51% 59% 200% 91% - 102% * Note: Wheaton TIF 1 Redevelopment Plan values were not expressed the same as the other communities' plans. Rather than providing "Anticipated EAV", a value was offered for "Estimated Incremental Property Tax Revenue" ($21,583,365). Agenda Packet P. 21

22 Village of Winnetka Comparable Community or TIF Redevelopment Project Costs Municipality Winnetka Elmhurst Elmhurst Lombard Lombard Palatine TIF District Proposed Downtown North York Street TIF Redevelopment Plan York and Vallette TIF Redevelopment Plan Downtown TIF District Butterfield-Yorktown TIF District Downtown Area TIF District Plan Date Early 2018 June 2012 June 2012 February 1989 (renewed in 2007) November 2017 December 1999 Number of Parcels Number of Acres not specified (but more than 1.5 acres) not specified (but more than 1.5 acres) Base EAV 2015 EAV: $34,246, EAV: $31,933, EAV: $7,766, EAV: $8,940, EAV: $10,342, EAV: $22,000,000 Anticipated EAV $81,790,752 $105,000,000 to $150,000,000 $32,000,000 to $45,000,000 $27,173,276 $110,000,000 to $115,000,000 $46,000,000 Anticipated Incremental EAV (Difference between Base EAV and Anticipated EAV) $47,545,000 $73,066,150 to $118,066,150 $24,233,830 to $37,233,830 $18,233,276 $99,657,485 to $104,657,485 $24,000,000 Total Redevelopment Project Costs Total Redevelopment Project Costs as % of Anticipated Incremental EAV $89,125,000 $27,500,000 $7,740,000 $125,800,000 $40,000,000 75% - 122% 74% - 113% 42% 120% - 126% 167% Agenda Packet P. 22

23 Attachment #5 Village of Winnetka Downtown TIF Potential Adoption Schedule December 6, 2017 Reimbursement/Feasibility Analysis Resolution Publish Notice Interested Parties Registry December/January Dec/Jan Village Council Meeting Village submits to Ehlers RPCosts and Goals Ehlers submits Draft Plan to Village Any revisions due to Ehlers January 2018 By Tuesday, January 2, 2018 By Friday, January 19, 2018 By Friday, January 26, 2018 February 2018 Plan Filed with the Clerk Announce Availability of Redevelopment Plan and set Public Meeting Tuesday, February 6, 2018 Tuesday, February 6, 2018 Mail Notices to residential addresses within 750 ft and IPR Between 2/7/2018-2/9/2018 Public Meeting Between 2/26/2018-2/28/2018 First Reading of Ordinance setting the Public Hearing and JRB Second Reading of Ordinance setting the Public Hearing and JRB Mail Notice of JRB and Public Hearing to Taxing Districts and DCEO Mail Notices Joint Review Board Meeting Publish - Public Hearing Notice (1st) Publish - Public Hearing Notice (2nd) Mail Notices to taxpayers of record Public Hearing March 2018 April - July 2018* First Reading of Adoption of the TIF Ordinances Second Reading of Adoption of the TIF Ordinances Transmit Ordinances, Legal descriptions, maps and PIN list to the County Tuesday, March 6, 2017 Tuesday, March 20, 2017 Not less than 45 days after Notices mailed to Taxing Districts and DCEO Within days after Public Hearing Bold indicates Village Board Meeting * Plan must be filed prior to the release of FY17 EAVs by Cook Co. (Spring 2018) in order to use FY16 values. Agenda Packet P. 23

24 Agenda Packet P. 24 Attachment #6

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29 Agenda Packet P. 29