Joint Review Board

Agenda Village of Arlington Heights Joint Review Board Virtual Meeting July 29, 2020 3:30 PM I. CALL TO ORDER A. In response the COVID-19 pandemic, this meeting is closed to in-person, public attendance. The meeting is being held virtually, which permits the public to fully participate via their computers or using their phones. To participate in the virtual meeting, please follow these instructions: https://bit.ly/32Gbsc5 Individuals who wish to comment or ask a question on an item on the Agenda may either participate virtually or send an email to the Village at benright@vah.com. Please limit emails to 200 words or less. To be shared at the meeting, the email must be received by 12:00 pm on July 29, 2020. II. ROLL CALL III. APPROVAL OF MINUTES IV. NEW BUSINESS A. Presentation of State Comptroller Annual Report a. TIF District #4 b. Comments/Questions from Joint Review Board c. Public Comments Regarding Annual Reports V. ADJOURNMENT Persons with disabilities requiring auxiliary aids or services, such as an American Sign Language interpreter or written materials in accessible formats, should contact David Robb, Disability Services Coordinator, at 33 S. Arlington Heights Road, Arlington Heights, Illinois 60005, (847)368-5793 (Voice), (847)368-5980 (Fax) or drobb@vah.com.  Joint Review Board 7/29/2020 Item: Presentation of State Comptroller Annual Report Department: Planning & Community Development ATTACHMENTS: Description Type Tif 4 Report Report FY 2019 ANNUAL TAX INCREMENT FINANCE REPORT Name of Municipality: Arlington Heights Reporting Fiscal Year: 2019 County: Cook Fiscal Year End: 12/31/2019 Unit Code: 016/015/32 FY 2019 TIF Administrator Contact Information First Name: Bill Last Name: Enright Address: 33 S Arlington Heights Road Title: Asst Director Planning Community Develop. Telephone: 847-368-5200 City: Arlington Heights Zip: 60005 E-mail- required benright@vah.com I attest to the best of my knowledge, that this FY 2019 report of the redevelopment project area(s) in the City/Village of: Arlington Heights 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.]. ______________________________________________________ June 24, 2020 _____________________________ Written signature of TIF Administrator Date 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 Name of Redevelopment Project Area Date Designated MM/DD/20YY Date Terminated MM/DD/20YY TIF 4 7/1/2002 *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.] SECTION 2 [Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.] FY 2019 Name of Redevelopment Project Area (below): TIF 4 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 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)] x If yes, please enclose the amendment (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)] x If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis must be attached and (labeled Attachment J). An analysis prepared by a financial advisor or underwriter setting forth the nature and term of obligation and projected debt service including required reserves and debt coverage. [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, then Analysis MUST be attached and (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).  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)) Provide an analysis of the special tax allocation fund. FY 2019 TIF 4 Special Tax Allocation Fund Balance at Beginning of Reporting Period $ 2,221,417 Cumulative Revenue/Cash Totals of Receipts for SOURCE of Revenue/Cash Receipts: Revenue/Cash Current Reporting Receipts for life Year of TIF % of Total Property Tax Increment $ 594,782 $ 7,223,074 96% State Sales Tax Increment $ - $ - 0% Local Sales Tax Increment $ - $ - 0% State Utility Tax Increment $ - $ - 0% Local Utility Tax Increment $ - $ - 0% Interest $ 60,404 $ 274,073 4% Land/Building Sale Proceeds $ - $ 16,970 0% Bond Proceeds $ - $ - 0% Transfers from Municipal Sources $ - $ - 0% Private Sources $ - $ - 0% Other (identify source _____________; if multiple other sources, attach schedule) $ 3,605 $ - 0% All Amount Deposited in Special Tax Allocation Fund $ 658,791 Cumulative Total Revenues/Cash Receipts $ 7,514,117 100% Total Expenditures/Cash Disbursements (Carried forward from $ 58,789 Section 3.2) Transfers to Municipal Sources $ - Distribution of Surplus Total Expenditures/Disbursements $ 58,789 Net/Income/Cash Receipts Over/(Under) Cash Disbursements $ 600,002 Previous Year Adjustment (Explain Below) $ - . FUND BALANCE, END OF REPORTING PERIOD* $ 2,821,419 * If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 Previous Year Explanation:  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 2019 TIF NAME: TIF 4 ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND (by category of permissible redevelopment project costs ) 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. Professional Services (appraisal, environmental, legal) 8,789 $ 8,789 2. Annual administrative cost. Administrative Costs 50,000 $ 50,000 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. $ -  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. $ -  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 $ 58,789  Section 3.2 B FY 2019 TIF NAME: TIF 4 Optional: Information in the following sections is not required by law, but would be helpful in creating fiscal transparency. List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year. Name Service Amount Transfer out to Genral Fund Administrative Services $ 50,000.00  SECTION 3.3 - (65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d) Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source FY 2019 TIF NAME: TIF 4 FUND BALANCE BY SOURCE $ 2,821,419 Amount of Original Issuance Amount Designated 1. Description of Debt Obligations Total Amount Designated for Obligations $ - $ - 2. Description of Project Costs to be Paid Professional Services (5 years) $ 250,000 Administrative Costs (5 years) $ 250,000 Redevelopment Costs (5 years) $ 2,750,000 Streets: Green Corridor Beautification $ 160,000 Total Amount Designated for Project Costs $ 3,410,000 TOTAL AMOUNT DESIGNATED $ 3,410,000 SURPLUS/(DEFICIT) $ (588,581)  SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] FY 2019 TIF NAME: TIF 4 Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment project area. Check here if no property was acquired by the Municipality within the x Redevelopment Project Area. Property Acquired by the Municipality Within the 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:  SECTION 5 - 20 ILCS 620/4.7 (7)(F) PAGE 1 FY 2019 TIF Name: TIF 4 Page 1 is to 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, complete 2a.) 2 2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment plan: LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area: Estimated Investment for Subsequent Fiscal Total Estimated to TOTAL: 11/1/99 to Date Year Complete Project Private Investment Undertaken (See Instructions) $ 4,700,000 $ - $ - Public Investment Undertaken $ 265,580 $ - $ - Ratio of Private/Public Investment 17 23/33 0 *PROJECT NAME TO BE LISTED AFTER PROJECT NUMBER Project 1*: Council Trail Sewer/Roadway Private Investment Undertaken (See Instructions) Public Investment Undertaken $ 265,580 Ratio of Private/Public Investment 0 0 Project 2*: Autum Leaves Private Investment Undertaken (See Instructions) $ 4,700,000 Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 3*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 4*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 5*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 6*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Optional: Information in the following sections is not required by law, but would be helpful in evaluating the performance of TIF in Illinois. *even though optional MUST be included as part of the complete TIF report SECTION 6 FY 2019 TIF NAME: TIF 4 Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area Year redevelopment project area was Reporting Fiscal Year designated Base EAV EAV 2002 $ 5,971,996 $ 12,179,559 List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. ______ Check if the overlapping taxing districts did not receive a surplus. Surplus Distributed from redevelopment Overlapping Taxing District project area to overlapping districts $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - SECTION 7 Provide information about job creation and retention: Description and Type Number of Jobs Number of Jobs (Temporary or Retained Created Permanent) of Jobs Total Salaries Paid $ - $ - $ - $ - $ - $ - $ - SECTION 8 Provide a general description of the redevelopment project area using only major boundaries: NE Corner of Golf Road and Arlington Heights Road Optional Documents Enclosed Legal description of redevelopment project area Map of District  ATTACHMENT B (TIF IV) I, Thomas W. Hayes, the duly elected Chief Executive Officer, of the Village of Arlington Heights, County of Cook, State of Illinois, and as such, do hereby certify that the Village of Arlington Heights has complied with all requirements pertaining to the Tax Increment Redevelopment Allocation Act for Tax Increment Financing District Number IV, during the current municipal fiscal year, January 1, 2019 to December 31, 2019. June 24, 2020. _____________________ Thomas W. Hayes President Board of Trustees Village of Arlington Heights ATTEST: ____Becky Hume_____ Becky Hume Village Clerk  ATTACHMENT C (TIF IV) I, ROBIN WARD, In House Counsel of the Village of Arlington Heights, County of Cook, State of Illinois, and have been such throughout the fiscal year covered by this report, January 1, 2019 to December 31, 2019, do hereby state as follows: It is my opinion that the Village of Arlington Heights has in all respects complied with the requirements of the Tax Allocation Redevelopment Act as it relates to Tax Increment Financing District Number IV, for the fiscal year, January 1, 2019 to December 31, 2019. June 24, 2020 _________________________________ ROBIN WARD In House Counsel ATTEST: ___Becky Hume_______ Becky Hume Village Clerk  ATTACHMENT D (TIF IV) I, Randall Recklaus, Village Manager, do hereby certify that the following activities were undertaken in furtherance of the objectives of the redevelopment plan for Tax Increment Financing District Number IV, between January 1, 2019 and December 31, 2019. 1. Continued to work with prospective developers. June 24, 2020 ________________________ Randall Recklaus Village Manager ATTEST: _Becky Hume_____ Becky Hume Village Clerk ATTACHMENT F and K (TIF IV) See Attached. 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION The Honorable Mayor and Members of the Board of Trustees Village of Arlington Heights, Illinois We have audited the financial statements of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of the Village of Arlington Heights, Illinois (the Village) as of and for the year ended December 31, 2019, which collectively comprise the basic financial statements of the Village of Arlington Heights, Illinois, and have issued our report thereon dated June 8, 2020. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Village’s basic financial statements. The supplementary financial information (balance sheet and schedule of revenues, expenditures, and changes in fund balance) is presented for the purpose of additional analysis and is not a required part of the basic financial statements. The supplementary financial information is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. Naperville, Illinois June 8, 2020 -2-  VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS BALANCE SHEET TAX INCREMENT FINANCING FUND TIF IV December 31, 2019 ASSETS Cash and cash equivalents $ 2,808,443 Property taxes receivable 571,800 Accrued interest receivable 14,183 TOTAL ASSETS $ 3,394,426 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE LIABILITIES Accounts payable $ 1,207 Total liabilities 1,207 DEFERRED INFLOWS OF RESOURCES Unavailable revenue 571,800 Total liabilities and deferred inflows of resources 573,007 FUND BALANCE Restricted for community development 2,821,419 Total fund balance 2,821,419 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE $ 3,394,426 (See independent accountant's report.) -3-  VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE TAX INCREMENT FINANCING FUND TIF IV For the Year Ended December 31, 2019 REVENUES Property taxes $ 594,782 Investment income 60,404 Miscellaneous 3,605 Total revenues 658,791 EXPENDITURES Contractual services 8,789 Other expenditures 50,000 Total expenditures 58,789 NET CHANGE IN FUND BALANCE 600,002 FUND BALANCE, JANUARY 1 2,221,417 FUND BALANCE, DECEMBER 31 $ 2,821,419 (See independent auditor's report.) -4- Attachment L : Auditors Letter 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE The Honorable Mayor and Members of the Board of Trustees Village of Arlington Heights, Illinois We have examined management’s assertion that the Village of Arlington Heights, Illinois (the Village), complied with the provisions 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, 2019. Management is responsible for the Village’s assertion. Our responsibility is to express an opinion on management’s assertion about the Village’s compliance with the specific requirements based on our examination. Our examination was made in accordance with the standards established by the American Institute of Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the Village’s compliance with the specified requirements. In our opinion, management’s assertion that the Village of Arlington Heights, Illinois, complied with the aforementioned requirements for the year ended December 31, 2019, is fairly stated in all material respects. This report is intended solely for the information and use of the Board of Trustees, management and the Illinois Department of Revenue, Illinois State Comptrollers office and the Joint Review Board and should not be used by anyone other than these specified parties. Naperville, Illinois June 8, 2020 -1-  Attachment M: Intergovernmental Agreements 1. R14-005; A14-002 between the Village Of Arlington Heights and Township High School District #214 regarding a 12 year extension to the TIF District. 2. R14-006; A14-003 between the Village Of Arlington Heights and Community Consolidated School District No.59 regarding a 12 year extension to the TIF District. 3. R14-004; A14-001 between the Village Of Arlington Heights and the Arlington Heights Park District regarding a 12 year extension to the TIF District. 4. R14-007; A14-004 between the Village Of Arlington Heights and Elk Grove Township regarding a 12 year extension to the TIF District.  Agenda Village of Arlington Heights Joint Review Board Virtual Meeting July 29, 2020 3:45 PM I. CALL TO ORDER A. In response the COVID-19 pandemic, this meeting is closed to in-person, public attendance. The meeting is being held virtually, which permits the public to fully participate via their computers or using their phones. To participate in the virtual meeting, please follow these instructions: https://bit.ly/32Gbsc5 Individuals who wish to comment or ask a question on an item on the Agenda may either participate virtually or send an email to the Village at benright@vah.com. Please limit emails to 200 words or less. To be shared at the meeting, the email must be received by 12:00 pm on July 29, 2020. II. ROLL CALL III. APPROVAL OF MINUTES IV. NEW BUSINESS A. Presentation of State Comptroller Annual Report a. TIF District #5 b. Comments/Questions from Joint Review Board c. Public Comments Regarding Annual Reports V. ADJOURNMENT Persons with disabilities requiring auxiliary aids or services, such as an American Sign Language interpreter or written materials in accessible formats, should contact David Robb, Disability Services Coordinator, at 33 S. Arlington Heights Road, Arlington Heights, Illinois 60005, (847)368-5793 (Voice), (847)368-5980 (Fax) or drobb@vah.com.  Joint Review Board 7/29/2020 Item: Presentation of State Comptroller Annual Report Department: Planning & Community Development ATTACHMENTS: Description Type TIF 5 Report Report FY 2019 ANNUAL TAX INCREMENT FINANCE REPORT Name of Municipality: Arlington Heights Reporting Fiscal Year: 2019 County: Cook Fiscal Year End: 12/31/2019 Unit Code: 016/015/032 FY 2019 TIF Administrator Contact Information First Name: Bill Last Name: Enright Address: 33 S Arlington Heights Road Title: Assistant Director Planning and Community Telephone: 847-368-5200 City: Arlington Heightsa Zip: 60005 E-mail- required benright@vah.com I attest to the best of my knowledge, that this FY 2019 report of the redevelopment project area(s) in the City/Village of: Arlington Heights 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.]. ______________________________________________________ June 24, 2020 _____________________________ Written signature of TIF Administrator Date 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 Name of Redevelopment Project Area Date Designated MM/DD/20YY Date Terminated MM/DD/20YY TIF 5 2/7/2005 *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.] SECTION 2 [Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.] FY 2019 Name of Redevelopment Project Area (below): TIF 5 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 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)] x If yes, please enclose the amendment (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)] x If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis must be attached and (labeled Attachment J). An analysis prepared by a financial advisor or underwriter setting forth the nature and term of obligation and projected debt service including required reserves and debt coverage. [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, then Analysis MUST be attached and (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).  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)) Provide an analysis of the special tax allocation fund. FY 2019 TIF 5 Special Tax Allocation Fund Balance at Beginning of Reporting Period $ 1,404,352 Cumulative Revenue/Cash Totals of Receipts for SOURCE of Revenue/Cash Receipts: Revenue/Cash Current Reporting Receipts for life Year of TIF % of Total Property Tax Increment $ 722,952 $ 7,350,128 74% State Sales Tax Increment $ - $ - 0% Local Sales Tax Increment $ - $ - 0% State Utility Tax Increment $ - $ - 0% Local Utility Tax Increment $ - $ - 0% Interest $ 49,147 $ 320,177 3% Land/Building Sale Proceeds $ - $ - 0% Bond Proceeds $ - $ 2,240,618 23% 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 $ 772,099 Cumulative Total Revenues/Cash Receipts $ 9,910,923 100% Total Expenditures/Cash Disbursements (Carried forward from $ 13,609 Section 3.2) Transfers to Municipal Sources $ - Distribution of Surplus Total Expenditures/Disbursements $ 13,609 Net/Income/Cash Receipts Over/(Under) Cash Disbursements $ 758,490 Previous Year Adjustment (Explain Below) $ - . FUND BALANCE, END OF REPORTING PERIOD* $ 2,162,842 * If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 Previous Year Explanation:  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 2019 TIF NAME: TIF 5 ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND (by category of permissible redevelopment project costs ) 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. Professional Services (Engineering) 13,609 $ 13,609 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. $ -  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. $ -  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 $ 13,609  Section 3.2 B FY 2019 TIF NAME: TIF 5 Optional: Information in the following sections is not required by law, but would be helpful in creating fiscal transparency. List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year. Name Service Amount Hampton Lenzini Renwick Enginnering $ 12,809.00  SECTION 3.3 - (65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d) Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source FY 2019 TIF NAME: TIF 5 FUND BALANCE BY SOURCE $ 2,162,842 Amount of Original Issuance Amount Designated 1. Description of Debt Obligations Total Amount Designated for Obligations $ - $ - 2. Description of Project Costs to be Paid Professional Services (5 years) $ 75,000 Streets:Rand Road Corridor Indentification Enhance $ 462,600 Total Amount Designated for Project Costs $ 537,600 TOTAL AMOUNT DESIGNATED $ 537,600 SURPLUS/(DEFICIT) $ 1,625,242  SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] FY 2019 TIF NAME: TIF 5 Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment project area. Check here if no property was acquired by the Municipality within the x Redevelopment Project Area. Property Acquired by the Municipality Within the 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:  SECTION 5 - 20 ILCS 620/4.7 (7)(F) PAGE 1 FY 2019 TIF Name: TIF 5 Page 1 is to 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. x 2. The Municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option, complete 2a.) 2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment 2 plan: LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area: Estimated Investment for Subsequent Fiscal Total Estimated to TOTAL: 11/1/99 to Date Year Complete Project Private Investment Undertaken (See Instructions) $ 20,000,000 $ - $ - Public Investment Undertaken $ 2,825,000 $ - $ - Ratio of Private/Public Investment 7 2/25 0 *PROJECT NAME TO BE LISTED AFTER PROJECT NUMBER Project 1*: Town and Country Renovation Private Investment Undertaken (See Instructions) $ 20,000,000 Public Investment Undertaken $ 2,285,000 Ratio of Private/Public Investment 8 70/93 0 Project 2*: Public Streetscaping (planned) Private Investment Undertaken (See Instructions) Public Investment Undertaken $ 540,000 Ratio of Private/Public Investment 0 0 Project 3*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 4*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 5*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 6*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Optional: Information in the following sections is not required by law, but would be helpful in evaluating the performance of TIF in Illinois. *even though optional MUST be included as part of the complete TIF report SECTION 6 FY 2019 TIF NAME: TIF 5 Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area Year redevelopment project area was Reporting Fiscal Year designated Base EAV EAV 2005 $ 30,180,546 $ 31,921,493 List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. ______ Check if the overlapping taxing districts did not receive a surplus. Surplus Distributed from redevelopment Overlapping Taxing District project area to overlapping districts $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - SECTION 7 Provide information about job creation and retention: Description and Type Number of Jobs Number of Jobs (Temporary or Retained Created Permanent) of Jobs Total Salaries Paid $ - $ - $ - $ - $ - $ - $ - SECTION 8 Provide a general description of the redevelopment project area using only major boundaries: Commerical Area near Rand Road, Palatine Road, Arlington Heights Road Optional Documents Enclosed Legal description of redevelopment project area Map of District  ATTACHMENT B (TIF V) I, Thomas W. Hayes, the duly elected Chief Executive Officer, of the Village of Arlington Heights, County of Cook, State of Illinois, and as such, do hereby certify that the Village of Arlington Heights has complied with all requirements pertaining to the Tax Increment Redevelopment Allocation Act for Tax Increment Financing District Number V, during the current municipal fiscal year, January 1, 2019 to December 31, 2019. June 24, 2020. _____________________ Thomas W. Hayes President Board of Trustees Village of Arlington Heights ATTEST: ___Becky Hume______ Becky Hume Village Clerk  ATTACHMENT C (TIF V) I, ROBIN WARD, In House Counsel of the Village of Arlington Heights, County of Cook, State of Illinois, and have been such throughout the fiscal year covered by this report, January 1, 2019 to December 31, 2019, do hereby state as follows: It is my opinion that the Village of Arlington Heights has in all respects complied with the requirements of the Tax Allocation Redevelopment Act as it relates to Tax Increment Financing District Number V, for the fiscal year, January 1, 2019 to December 31, 2019. June 24, 2020 _________________________________ ROBIN WARD In House Counsel ATTEST: ____Becky Hume______ Becky Hume Village Clerk  ATTACHMENT D (TIF V) I, Randall Recklaus, Village Manager, do hereby certify that the following activities were undertaken in furtherance of the objectives of the redevelopment plan for Tax Increment Financing District Number V, between January 1, 2019 and December 31, 2019. 1. Marketing/ Promotional. 2. The Village continued its efforts to facilitate redevelopment of Southpoint Shopping Center. 3. The Village continued to develop streetscape plans for the corridor for implementation in 2020. June 24, 2020 ________________________ Randall Recklaus Village Manager ATTEST: ____Becky Hume_________ Becky Hume Village Clerk ATTACHMENT F and K (TIF V) See Attached. 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION The Honorable Mayor and Members of the Board of Trustees Village of Arlington Heights, Illinois We have audited the financial statements of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of the Village of Arlington Heights, Illinois (the Village) as of and for the year ended December 31, 2019, which collectively comprise the basic financial statements of the Village of Arlington Heights, Illinois, and have issued our report thereon dated June 8, 2020. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Village’s basic financial statements. The supplementary financial information (balance sheet and schedule of revenues, expenditures, and changes in fund balance) is presented for the purpose of additional analysis and is not a required part of the basic financial statements. The supplementary financial information is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. Naperville, Illinois June 8, 2020 -2- FINANCIAL STATEMENTS  VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS BALANCE SHEET TAX INCREMENT FINANCING FUND TIF V December 31, 2019 ASSETS Cash and cash equivalents $ 2,155,388 Property taxes receivable 738,100 Accrued interest receivable 11,053 TOTAL ASSETS $ 2,904,541 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE LIABILITIES Accounts payable $ 3,599 Total liabilities 3,599 DEFERRED INFLOWS OF RESOURCES Unavailable revenue 738,100 Total liabilities and deferred inflows of resources 741,699 FUND BALANCE Restricted for community development 2,162,842 Total fund balance 2,162,842 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE $ 2,904,541 (See independent accountant's report.) -3-  VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE TAX INCREMENT FINANCING FUND TIF V For the Year Ended December 31, 2019 REVENUES Property taxes $ 722,952 Investment income 45,805 3,342 Total revenues 772,099 EXPENDITURES Contractual services 800 Capital outlay 12,809 Total expenditures 13,609 NET CHANGE IN FUND BALANCE 758,490 FUND BALANCE, JANUARY 1 1,404,352 FUND BALANCE, DECEMBER 31 $ 2,162,842 (See independent auditor's report.) -4- Attachment L : Auditors Letter 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE The Honorable Mayor and Members of the Board of Trustees Village of Arlington Heights, Illinois We have examined management’s assertion that the Village of Arlington Heights, Illinois (the Village), complied with the provisions 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, 2019. Management is responsible for the Village’s assertion. Our responsibility is to express an opinion on management’s assertion about the Village’s compliance with the specific requirements based on our examination. Our examination was made in accordance with the standards established by the American Institute of Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the Village’s compliance with the specified requirements. In our opinion, management’s assertion that the Village of Arlington Heights, Illinois, complied with the aforementioned requirements for the year ended December 31, 2019, is fairly stated in all material respects. This report is intended solely for the information and use of the Board of Trustees, management and the Illinois Department of Revenue, Illinois State Comptrollers office and the Joint Review Board and should not be used by anyone other than these specified parties. Naperville, Illinois June 8, 2020 -1-  Agenda Village of Arlington Heights Joint Review Board Virtual Meeting July 29, 2020 4:00 PM I. CALL TO ORDER A. In response to the COVID-19 pandemic, this meeting is closed to in-person, public attendance. The meeting is being held virtually, which permits the public to fully participate via their computers or using their phones. To participate in the virtual meeting, please follow these instructions: https://bit.ly/32Gbsc5 Individuals who wish to comment or ask a question on an item on the Agenda may either participate virtually or send an email to the Village at benright@vah.com. Please limit emails to 200 words or less. To be shared at the meeting, the email must be received by 12:00 p.m. on July 29, 2020. II. ROLL CALL III. APPROVAL OF MINUTES IV. NEW BUSINESS A. Presentation of State Comptroller Annual Report a. TIF District - Hickory Kensington b. Comments/Questions from Joint Review Board c. Public Comments Regarding Annual Report V. ADJOURNMENT Persons with disabilities requiring auxiliary aids or services, such as an American Sign Language interpreter or written materials in accessible formats, should contact David Robb, Disability Services Coordinator, at 33 S. Arlington Heights Road, Arlington Heights, Illinois 60005, (847)368-5793 (Voice), (847)368-5980 (Fax) or drobb@vah.com.  Joint Review Board 7/29/2020 Item: Presentation of State Comptroller Annual Reports Department: Planning & Community Development ATTACHMENTS: Description Type TIF District - Hickory Kensington Report FY 2019 ANNUAL TAX INCREMENT FINANCE REPORT Name of Municipality: Arlington Heights Reporting Fiscal Year: 2019 County: Cook Fiscal Year End: 12/31/2019 Unit Code: 015/016/32 FY 2019 TIF Administrator Contact Information First Name: Bill Last Name: Enright Address: 33 S Arlington Heights Road Title: Asst Director Planning Community Develop Telephone: 847-368-5200 City: Arlington Heights Zip: 60005 E-mail- required benright@vah.com I attest to the best of my knowledge, that this FY 2019 report of the redevelopment project area(s) in the City/Village of: Arlington Heights 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.]. ______________________________________________________ June 24, 2020 _____________________________ Written signature of TIF Administrator Date 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 Name of Redevelopment Project Area Date Designated MM/DD/20YY Date Terminated MM/DD/20YY Hickory Kensington 7/21/2014 *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.] SECTION 2 [Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.] FY 2019 Name of Redevelopment Project Area (below): Hickory Kensington Primary Use of Redevelopment Project Area*: Mixed * Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. Residential/Commerci If "Combination/Mixed" List Component Types: al 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 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)] x If yes, please enclose the amendment (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)] x If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis must be attached and (labeled Attachment J). An analysis prepared by a financial advisor or underwriter setting forth the nature and term of obligation and projected debt service including required reserves and debt coverage. [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, then Analysis MUST be attached and (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).  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)) Provide an analysis of the special tax allocation fund. FY 2019 Hickory Kensington Special Tax Allocation Fund Balance at Beginning of Reporting Period $ 1,155,780 Cumulative Revenue/Cash Totals of Receipts for SOURCE of Revenue/Cash Receipts: Revenue/Cash Current Reporting Receipts for life Year of TIF % of Total Property Tax Increment $ 515,934 $ 1,740,576 97% State Sales Tax Increment $ - $ - 0% Local Sales Tax Increment $ - $ - 0% State Utility Tax Increment $ - $ - 0% Local Utility Tax Increment $ - $ - 0% Interest $ 35,318 $ 54,216 3% 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) $ 400 $ 400 0% All Amount Deposited in Special Tax Allocation Fund $ 551,652 Cumulative Total Revenues/Cash Receipts $ 1,795,192 100% Total Expenditures/Cash Disbursements (Carried forward from $ 30,000 Section 3.2) Transfers to Municipal Sources $ - Distribution of Surplus Total Expenditures/Disbursements $ 30,000 Net/Income/Cash Receipts Over/(Under) Cash Disbursements $ 521,652 Previous Year Adjustment (Explain Below) $ - . FUND BALANCE, END OF REPORTING PERIOD* $ 1,677,432 * If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 Previous Year Explanation:  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 2019 TIF NAME: Hickory Kensington ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND (by category of permissible redevelopment project costs ) 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. Administrative Costs 30,000 $ 30,000 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. $ -  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. $ -  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 $ 30,000  Section 3.2 B FY 2019 TIF NAME: Hickory Kensington Optional: Information in the following sections is not required by law, but would be helpful in creating fiscal transparency. List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year. Name Service Amount Transfer out to General Fund Administrative Services $ 30,000.00  SECTION 3.3 - (65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d) Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source FY 2019 TIF NAME: Hickory Kensington FUND BALANCE BY SOURCE $ 1,677,432 Amount of Original Issuance Amount Designated 1. Description of Debt Obligations Total Amount Designated for Obligations $ - $ - 2. Description of Project Costs to be Paid Professional Services (5 years) $ 75,000 Administrative Services (5 years) $ 75,000 Redevelopment (5 years) $ 2,800,000 Total Amount Designated for Project Costs $ 2,950,000 TOTAL AMOUNT DESIGNATED $ 2,950,000 SURPLUS/(DEFICIT) $ (1,272,568)  SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] FY 2019 TIF NAME: Hickory Kensington Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment project area. Check here if no property was acquired by the Municipality within the x Redevelopment Project Area. Property Acquired by the Municipality Within the 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:  SECTION 5 - 20 ILCS 620/4.7 (7)(F) PAGE 1 FY 2019 TIF Name: Hickory Kensington Page 1 is to 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. x 2. The Municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option, complete 2a.) 2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment plan: LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area: Estimated Investment for Subsequent Fiscal Total Estimated to TOTAL: 11/1/99 to Date Year Complete Project Private Investment Undertaken (See Instructions) $ - $ - $ - Public Investment Undertaken $ - $ - $ - Ratio of Private/Public Investment 0 0 *PROJECT NAME TO BE LISTED AFTER PROJECT NUMBER Project 1*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 2*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 3*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 4*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 5*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 6*: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Optional: Information in the following sections is not required by law, but would be helpful in evaluating the performance of TIF in Illinois. *even though optional MUST be included as part of the complete TIF report SECTION 6 FY 2019 TIF NAME: Hickory Kensington Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area Year redevelopment project area was Reporting Fiscal Year designated Base EAV EAV 2014 $ 8,634,983 $ 13,874,580 List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. x Check if the overlapping taxing districts did not receive a surplus. Surplus Distributed from redevelopment Overlapping Taxing District project area to overlapping districts $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - SECTION 7 Provide information about job creation and retention: Description and Type Number of Jobs Number of Jobs (Temporary or Retained Created Permanent) of Jobs Total Salaries Paid $ - $ - $ - $ - $ - $ - $ - SECTION 8 Provide a general description of the redevelopment project area using only major boundaries: Hickory Avenue and Kensington Road area Optional Documents Enclosed Legal description of redevelopment project area Map of District  ATTACHMENT B (TIF Hickory Kensington) I, Thomas W. Hayes, the duly elected Chief Executive Officer, of the Village of Arlington Heights, County of Cook, State of Illinois, and as such, do hereby certify that the Village of Arlington Heights has complied with all requirements pertaining to the Tax Increment Redevelopment Allocation Act for Tax Increment Financing District: Hickory Kensington, during the current municipal fiscal year, January 1, 2019 to December 31, 2019. June 24, 2020. _____________________ Thomas W. Hayes President Board of Trustees Village of Arlington Heights ATTEST: ___Becky Hume____ Becky Hume Village Clerk  ATTACHMENT C (TIF: Hickory Kensington) I, ROBIN WARD, In House Counsel of the Village of Arlington Heights, County of Cook, State of Illinois, and have been such throughout the fiscal year covered by this report, January 1, 2019 to December 31, 2019, do hereby state as follows: It is my opinion that the Village of Arlington Heights has in all respects complied with the requirements of the Tax Allocation Redevelopment Act as it relates to Tax Increment Financing District : Hickory Kensington, for the fiscal year, January 1, 2019 to December 31, 2019. June 24, 2020 _________________________________ ROBIN WARD In House Counsel ATTEST: Becky Hume ___________________ Becky Hume Village Clerk  ATTACHMENT D (HK) I, Randall Recklaus, Village Manager, do hereby certify that the following activities were undertaken in furtherance of the objectives of the redevelopment plan for Tax Increment Financing District: Hickory Kensington, between January 1, 2019 and December 31, 2019. 1. Continued to work with prospective developers. June 24, 2020 ________________________ Randall Recklaus Village Manager ATTEST: Becky Hume Becky Hume Village Clerk ATTACHMENT F and K HK TIF SEE ATTACHED 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION The Honorable Mayor and Members of the Board of Trustees Village of Arlington Heights, Illinois We have audited the financial statements of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of the Village of Arlington Heights, Illinois (the Village) as of and for the year ended December 31, 2019, which collectively comprise the basic financial statements of the Village of Arlington Heights, Illinois, and have issued our report thereon dated June 8, 2020. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Village’s basic financial statements. The supplementary financial information (balance sheet and schedule of revenues, expenditures, and changes in fund balance) is presented for the purpose of additional analysis and is not a required part of the basic financial statements. The supplementary financial information is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. Naperville, Illinois June 8, 2020 -2-  VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS BALANCE SHEET TAX INCREMENT FINANCING FUND HICKORY KENSINGTON TIF December 31, 2019 ASSETS Cash and cash equivalents $ 1,668,947 Property taxes receivable 558,500 Accrued interest receivable 8,485 TOTAL ASSETS $ 2,235,932 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE LIABILITIES None $ - Total liabilities - DEFERRED INFLOWS OF RESOURCES Unavailable revenue 558,500 Total liabilities and deferred inflows of resources 558,500 FUND BALANCE Restricted for community development 1,677,432 Total fund balance 1,677,432 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE $ 2,235,932 (See independent accountant's report.) -3-  VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE TAX INCREMENT FINANCING FUND HICKORY KENSINGTON TIF For the Year Ended December 31, 2019 REVENUES Property taxes $ 515,934 Investment income 35,318 Miscellaneous 400 Total revenues 551,652 EXPENDITURES Other expenditures 30,000 Total expenditures 30,000 NET CHANGE IN FUND BALANCE 521,652 FUND BALANCE, JANUARY 1 1,155,780 FUND BALANCE, DECEMBER 31 $ 1,677,432 (See independent auditor's report.) -4- Attachment L : Auditors Letter 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE The Honorable Mayor and Members of the Board of Trustees Village of Arlington Heights, Illinois We have examined management’s assertion that the Village of Arlington Heights, Illinois (the Village), complied with the provisions 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, 2019. Management is responsible for the Village’s assertion. Our responsibility is to express an opinion on management’s assertion about the Village’s compliance with the specific requirements based on our examination. Our examination was made in accordance with the standards established by the American Institute of Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the Village’s compliance with the specified requirements. In our opinion, management’s assertion that the Village of Arlington Heights, Illinois, complied with the aforementioned requirements for the year ended December 31, 2019, is fairly stated in all material respects. This report is intended solely for the information and use of the Board of Trustees, management and the Illinois Department of Revenue, Illinois State Comptrollers office and the Joint Review Board and should not be used by anyone other than these specified parties. Naperville, Illinois June 8, 2020 -1-  Attachment M: Intergovermental Agreements 1. R 14-027; A14-044 an agreement between the Village Of Arlington Heights and School Districts 25 and 214 regarding the sharing of incremental revenues.