development agreement compliance 2016 3 20-17
TRANSCRIPT
Development Agreement Compliance 2016
City of BellevilleEconomic Development, Planning & Zoning
Department
Development AgreementCompliance 2016
Process & General Information
Development agreements approved publicly through Economic Development Committee, Finance Committee, & City Council.
Compliance reports submitted annually by approval date for the life of the agreement.
City’s investment averages 2%-7% of total project cost.
Documentation of cost incurred required prior to reimbursement.
CITY OF BELLEVILLE, ILLINOIS ANNUAL CERTIFICATION OF COMPLIANCE
WITH DEVELOPMENT AGREEMENT Name: Fiscal Year*: 2014-2015 (Entity or Individual that is party to Development Agreement) Address: Phone: (Project Location) Fax: Email: Due Date: October 31, 2015 The undersigned does hereby declare and certify, under penalties of perjury as provided by applicable law, as follows:
I am a duly authorized agent of the above-referenced entity or individual that is a party to a Development Agreement with the City of Belleville, Illinois entered into on ;
The above-referenced entity or individual has invested $ at during the aforementioned fiscal year as required by the Development Agreement;
The above-referenced entity or individual has retained Full Time Equivalent (FTE)
jobs during the aforementioned fiscal year as required by the Development Agreement;
The above-referenced entity or individual has created FTE jobs during the aforementioned fiscal year as required by the Development Agreement;
The above-referenced entity or individual has generated $ in sales subject to sales tax during the aforementioned fiscal year as required by the Development Agreement;
The above-referenced entity or individual or any heirs or successors to the original incentive recipient remained and operated at the site during the aforementioned fiscal year as required in the Development Agreement: Yes No;
Those entities or individuals receiving a rebate on incremental property taxes, facade improvement, demolition, or other TIF eligible expenses must submit proof of payment to receive the rebate as identified in the Development Agreement;
The foregoing entity or individual is otherwise compliant with the aforementioned Development Agreement in all material respects.
*The term "fiscal year" is defined as the 12 months preceding the most recent anniversary of the date of the development agreement.
Date:_________________ By:_________________________________ Name:______________________________ Title:_______________________________
Return form to: Eric Schauster, Assistant Director Economic Development, Planning & Zoning City of Belleville 101 S. Illinois St. Belleville, IL 62220 [email protected]
Development AgreementCompliance 2016
30 Reports Filed for 2015-2016Does not include projects requiring creation of
TIF or Business District (Belleville Crossing, etc.).
8 New projects:2 New businesses.1 Relocation within Belleville.5 Expansions at existing locations.
2 Vacant buildings occupied.
Development AgreementCompliance 2016
Sales Tax Ex-emptions*
TIF Rebates Demolition$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$38,401
$217,947
$500,000
Incentives Issued 2015-2016
Total Incentives Issued 2015-2016: $756,348City obligation complete on 17 of 30 projects.
*If all building materials were purchased in Belleville.
Development AgreementCompliance 2016
Required Reported$33,700,000$33,750,000$33,800,000$33,850,000$33,900,000$33,950,000$34,000,000$34,050,000
$33,814,607
$33,999,325
Private Investment (9 Reports)
$184,718 Additional Investment
Development AgreementCompliance 2016
PT Required PT Reported FT Required FT Reported0
100200300400500600700800
49 54
571676
Jobs (25 Reports)
+105 FT + 5 PT Additional Jobs
Development AgreementCompliance 2016
Required Reported$0
$10,000,000$20,000,000$30,000,000$40,000,000$50,000,000$60,000,000$70,000,000$80,000,000
$33,089,615
$72,755,919
Sales Subject to Sales Tax (13 Reports)
$39,666,304 Additional Sales
Development AgreementCompliance 2016
Anticipated Per Reporting$0
$100,000$200,000$300,000$400,000$500,000$600,000$700,000$800,000$900,000
$1,000,000
$463,684
$887,986
Sales Tax Generated (13 Reports)
$424,302 Additional City Sales Tax
Development AgreementCompliance 2016
Incentives Issued Taxes Generated$0
$200,000$400,000$600,000$800,000
$1,000,000$1,200,000$1,400,000$1,600,000
$756,348
$1,400,831
Incentives Issued vs. Taxes Generated
$644,483 Net Gain
What You’re Getting For Your Investment:Bellecourt Banquet Center
222 East Main St.
Pro-Pack Testing Laboratory
St. Paul’s Home
Bank of Belleville
Development AgreementCompliance 2016
TIF Rebates Business District Tax Sales Tax$0
$200,000$400,000$600,000$800,000
$1,000,000$1,200,000$1,400,000$1,600,000$1,800,000
$1,211,102
$1,589,898$1,376,123
Incentives Issued: Shopping Center Proje...
Total Incentives Issued 2016: $4,177,123Includes over 30 new
businesses.
Includes Belleville Crossing, Green Mount Commons, & Eckert’s.
Development AgreementCompliance 2016
Property Tax TIF Increment Business District
Sales Tax$0
$500,000$1,000,000$1,500,000$2,000,000$2,500,000$3,000,000$3,500,000$4,000,000
$34,974
$1,765,681$1,589,898
$3,698,439
Taxes Generated: Shopping Center Proje...
Total Taxes Generated 2016: $7,088,992
Development AgreementCompliance 2016
Incentives Issued Taxes Generated$0
$1,000,000$2,000,000$3,000,000$4,000,000$5,000,000$6,000,000$7,000,000$8,000,000
$4,177,123
$7,088,992
Incentives Issued vs. Taxes Generated: Shop...
$2,911,869 Net Gain
Before & After: Eckert’s Orchard
Development AgreementCompliance 2016
Incentives Issued Taxes Generated$0
$1,000,000$2,000,000$3,000,000$4,000,000$5,000,000$6,000,000$7,000,000$8,000,000$9,000,000
$4,933,471
$8,489,823
Incentives Issued vs. Taxes Generated: Total
$3,556,352 Net Gain
Thank You!
City of BellevilleEconomic Development, Planning & Zoning Department
Eric Schauster, Assistant Director618-233-6810, Ext. 1249