Joint Review Board

Agenda Village of Arlington Heights Joint Review Board Community Room, 3rd Floor Arlington Heights Village Hall, 33 S. Arlington Heights Rd. July 20, 2022 3:30 PM I. CALL TO ORDER II. ROLL CALL III. APPROVAL OF MINUTES IV. NEW BUSINESS A. Hickory Kensington State Comptroller Annual TIF Report a. Staff Presentation b. Comments/Questions from JRB c. Public Comments Regarding Annual Report B. TIF 5 State Comptroller Annual TIF Report a. Staff Presentation b. Comments/Questions from JRB c. Public Comments Regarding Annual Report C. TIF 4 State Comptroller Annual TIF Report a. Staff Presentation b. Comments/Questions from JRB c. Public Comments Regarding Annual Report D. South Arlington Heights Road State Comptroller Annual TIF Report a. Staff Presentation b. Comments/Questions from JRB 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 Rosangela Maldonado, at 33 S. Arlington Heights Road, Arlington Heights, Illinois 60005, rmaldonado@vah.com or (847)368- 5791.  Joint Review Board 7/20/2022 Item: Hickory Kensington State Comptroller Annual TI F Report Department: Planning & Community Development ATTACHMENTS: Description Type Hickory Kensington State TIF Report Exhibits FY 2021 ANNUAL TAX INCREMENT FINANCE REPORT Name of Municipality: Village of Arlington Heights Reporting Fiscal Year: 2021 County: Cook Fiscal Year End: 12/31/2021 Unit Code: 016/015/32 FY 2021 TIF Administrator Contact Information First Name: Bill Last Name: Enright Address: 33 S Arlington Heights Road Title: Asst Director Planning Community Devel. Telephone: 847-368-5200 City: Arlington Heights Zip: 60004 E-mail- required benright@vah.com I attest to the best of my knowledge, that this FY 2021 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.]. ______________________________________________________ 06/30/2022 _____________________________ 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 2021 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. Commerical/Residenti 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 2021 Hickory Kensington Special Tax Allocation Fund Balance at Beginning of Reporting Period $ 2,480,599 Cumulative Revenue/Cash Totals of Receipts for SOURCE of Revenue/Cash Receipts: Revenue/Cash Current Receipts for life Reporting Year of TIF % of Total Property Tax Increment $ 762,150 $ 3,309,370 98% State Sales Tax Increment $ - $ - 0% Local Sales Tax Increment $ - $ - 0% State Utility Tax Increment $ - $ - 0% Local Utility Tax Increment $ - $ - 0% Interest $ 2,176 $ 67,915 2% 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) $ - $ - 0% All Amount Deposited in Special Tax Allocation Fund $ 764,326 Cumulative Total Revenues/Cash Receipts $ 3,377,285 100% Total Expenditures/Cash Disbursements (Carried forward from $ 15,000 Section 3.2) Transfers to Municipal Sources $ - Distribution of Surplus Total Expenditures/Disbursements $ 15,000 Net/Income/Cash Receipts Over/(Under) Cash Disbursements $ 749,326 Previous Year Adjustment (Explain Below) $ - . FUND BALANCE, END OF REPORTING PERIOD* $ 3,229,925 * 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 2021 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 Services 15,000 $ 15,000 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 $ 15,000  Section 3.2 B FY 2021 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 $ 15,000.00  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 2021 TIF NAME: Hickory Kensington *TIF Name will populate on every page FUND BALANCE BY SOURCE $ 3,229,925 - Amount of Original Issuance Amount Designated 1. Description of Debt Obligations Total Amount Designated for Obligations $ - $ - 2. Description of Project Costs to be Paid Redevelopment Agreement 4 N. Hickory $ 2,460,000 Campbell Street Beverly to Hickory $ 165,000 Redevelopment Costs $ 3,000,000 Total Amount Designated for Project Costs $ 5,625,000 3. Distribution of Surplus [65 ILCS 5/11-74.4-7] Total Amount OF Surplus Distribution $ - TOTAL AMOUNT DESIGNATED $ 5,625,000 SURPLUS/(DEFICIT) $ (2,395,075)  SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] FY 2021 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 x the 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: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (8): 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 2021 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. 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) $ - $ - $ - Public Investment Undertaken $ - $ - $ - Ratio of Private/Public Investment 0 0 *PROJECT NAME TO BE LISTED AFTER PROJECT NUMBER Project 1*: Arlington Market Homes Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 2*: Kensington Day Care 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 2021 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 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: Mixed Uses Hickoery and Kensington Road area. Optional Documents Enclosed Legal description of redevelopment project area Map of District ATTACHMENT C  ATTACHMENT F AND K VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS BALANCE SHEET TAX INCREMENT FINANCING FUND HICKORY KENSINGTON TIF December 31, 2021 ASSETS Cash and cash equivalents $ 3,229,801 Property taxes receivable 650,000 Accrued interest receivable 124 TOTAL ASSETS $ 3,879,925 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE LIABILITIES None $ - Total liabilities - DEFERRED INFLOWS OF RESOURCES Unavailable revenue 650,000 Total liabilities and deferred inflows of resources 650,000 FUND BALANCE Restricted for community development 3,229,925 Total fund balance 3,229,925 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE $ 3,879,925 (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, 2021 REVENUES Property taxes $ 762,150 Investment income 2,176 Total revenues 764,326 EXPENDITURES Other expenditures 15,000 Total expenditures 15,000 NET CHANGE IN FUND BALANCE 749,326 FUND BALANCE, JANUARY 1 2,480,599 FUND BALANCE, DECEMBER 31 $ 3,229,925 (See independent auditor's report.) -4-  ATTACHMENT L 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, 2021. 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, 2021, 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 19, 2022 -1-  Attachment M: Intergovermental Agreements (Hickory Kensington TIF) 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.  Joint Review Board 7/20/2022 Item: TI F 5 State Comptroller Annual TI F Report Department: Planning & Community Development ATTACHMENTS: Description Type TIF 5 State Report Exhibits FY 2021 ANNUAL TAX INCREMENT FINANCE REPORT Name of Municipality: Arlington Heights Reporting Fiscal Year: 2021 County: Cook Fiscal Year End: 12/31 /2021 Unit Code: 016/015/032 FY 2021 TIF Administrator Contact Information First Name: Bill Last Name: Enright Address: 33 S Arlington Heights Road Title: Asst Director Planning & Community Devl Telephone: 847-368-5200 City: Arlington Heights Zip: 60004 E-mail- required benright@vah.com I attest to the best of my knowledge, that this FY 2021 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.]. 6/30/2022 ______________________________________________________ _____________________________ 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 2021 Name of Redevelopment Project Area (below): TIF 5 Primary Use of Redevelopment Project Area*: * Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. If "Combination/Mixed" List Component Types: Commercial 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 2021 TIF 5 Special Tax Allocation Fund Balance at Beginning of Reporting Period $ 3,161,156 Cumulative Revenue/Cash Totals of Receipts for SOURCE of Revenue/Cash Receipts: Revenue/Cash Current Receipts for life Reporting Year of TIF % of Total Property Tax Increment $ 801,933 $ 9,137,021 78% State Sales Tax Increment $ - $ - 0% Local Sales Tax Increment $ - $ - 0% State Utility Tax Increment $ - $ - 0% Local Utility Tax Increment $ - $ - 0% Interest $ 2,748 $ 337,017 3% Land/Building Sale Proceeds $ - $ - 0% Bond Proceeds $ - $ 2,240,618 19% Transfers from Municipal Sources $ - $ - 0% Private Sources $ - $ - 0% Other (identify source _____________; if multiple other sources, attach schedule) $ 501 $ 501 0% All Amount Deposited in Special Tax Allocation Fund $ 805,182 Cumulative Total Revenues/Cash Receipts $ 11,715,157 100% Total Expenditures/Cash Disbursements (Carried forward from $ 400 Section 3.2) Transfers to Municipal Sources $ - Distribution of Surplus Total Expenditures/Disbursements $ 400 Net/Income/Cash Receipts Over/(Under) Cash Disbursements $ 804,782 Previous Year Adjustment (Explain Below) $ - . FUND BALANCE, END OF REPORTING PERIOD* $ 3,965,938 * 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 2021 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. Illinois Tax Increment Assocaition Dues 400 $ 400 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 $ 400  Section 3.2 B FY 2021 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 Illinois Tax Increment Association Memebership Dues $ 400.00  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 2021 TIF NAME: *TIF Name will populate on every page FUND BALANCE BY SOURCE $ 3,965,938 - Amount of Original Issuance Amount Designated 1. Description of Debt Obligations Total Amount Designated for Obligations $ - $ - 2. Description of Project Costs to be Paid Development Agreement Town and Country Chicago Assoicates Inc. R2020-031; A2020-083 1,399,000 Professional Services 5 years 75,000 Reserves Tax Appeals 5 years 500,000 Development Agreement Southpoint Center: RPS Arlington LLC. Ordinance 22-032; A2022-038 1,300,000 Streets: Corridor Enhancements 839,000 Redevelopment Costs 500,000 Total Amount Designated for Project Costs $ 4,613,000 - 3. Distribution of Surplus [65 ILCS 5/11-74.4-7] Total Amount OF Surplus Distribution $ - TOTAL AMOUNT DESIGNATED $ 4,613,000 - SURPLUS/(DEFICIT) $ (647,062) -  SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] FY 2021 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 x the 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: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (8): 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 2021 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. 2. The Municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option, complete 2a.) 3 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) $ 22,409,000 $ - $ - Public Investment Undertaken $ 6,039,000 $ - $ - Ratio of Private/Public Investment 3 27/38 0 *PROJECT NAME TO BE LISTED AFTER PROJECT NUMBER Project 1*: Town and Country Center Renovation Private Investment Undertaken (See Instructions) $ 20,000,000 Public Investment Undertaken $ 4,100,000 Ratio of Private/Public Investment 4 36/41 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*: Town and Country Renovation Private Investment Undertaken (See Instructions) $ 2,409,000 Public Investment Undertaken $ 1,399,000 Ratio of Private/Public Investment 1 13/18 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 2021 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 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: Commercial area Palatine. Rand Road, Arlington Heights Road corridor Optional Documents Enclosed Legal description of redevelopment project area Map of District ATTACHMENT C  ATTACHMENT F AND K VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS BALANCE SHEET TAX INCREMENT FINANCING FUND TIF V December 31, 2021 ASSETS Cash and cash equivalents $ 3,965,786 Property taxes receivable 738,100 Accrued interest receivable 152 TOTAL ASSETS $ 4,704,038 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE LIABILITIES None $ - Total liabilities - DEFERRED INFLOWS OF RESOURCES Unavailable revenue 738,100 Total liabilities and deferred inflows of resources 738,100 FUND BALANCE Restricted for community development 3,965,938 Total fund balance 3,965,938 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE $ 4,704,038 (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, 2021 REVENUES Property taxes $ 801,933 Investment income 2,748 Miscellaneous 501 Total revenues 805,182 EXPENDITURES Other charges 400 Total expenditures 400 NET CHANGE IN FUND BALANCE 804,782 FUND BALANCE, JANUARY 1 3,161,156 FUND BALANCE, DECEMBER 31 $ 3,965,938 (See independent auditor's report.) -4-  ATTACHMENT L 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, 2021. 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, 2021, 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 13, 2022 -1-  Joint Review Board 7/20/2022 Item: TI F 4 State Comptroller Annual TI F Report Department: Planning & Community Development ATTACHMENTS: Description Type TIF 4 Report Exhibits FY 2021 ANNUAL TAX INCREMENT FINANCE REPORT Name of Municipality: Arlington Heights Reporting Fiscal Year: 2021 County: Cook Fiscal Year End: 12 /31 /2021 Unit Code: 016/015/032 FY 2021 TIF Administrator Contact Information First Name: Bill Last Name: Enright Address: 33 S Arlington Heights Road Title: Asst Director Planning & Community Devel Telephone: 847-368-5200 City: Arlington Heights Zip: 60004 E-mail- required benright@vah.com I attest to the best of my knowledge, that this FY 2021 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.]. 6/30/2022 ______________________________________________________ _____________________________ 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 2021 Name of Redevelopment Project Area (below): TIF 4 Primary Use of Redevelopment Project Area*: Mixed * Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. Commercial / If "Combination/Mixed" List Component Types: Residential 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 2021 TIF 4 Special Tax Allocation Fund Balance at Beginning of Reporting Period $ 3,525,895 Cumulative Revenue/Cash Totals of Receipts for SOURCE of Revenue/Cash Receipts: Revenue/Cash Current Receipts for life Reporting Year of TIF % of Total Property Tax Increment $ 453,464 $ 8,432,719 97% State Sales Tax Increment $ - $ - 0% Local Sales Tax Increment $ - $ - 0% State Utility Tax Increment $ - $ - 0% Local Utility Tax Increment $ - $ - 0% Interest $ 2,528 $ 293,779 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) $ 721 $ 721 0% All Amount Deposited in Special Tax Allocation Fund $ 456,713 Cumulative Total Revenues/Cash Receipts $ 8,727,219 100% Total Expenditures/Cash Disbursements (Carried forward from $ 646,689 Section 3.2) Transfers to Municipal Sources $ - Distribution of Surplus Total Expenditures/Disbursements $ 646,689 Net/Income/Cash Receipts Over/(Under) Cash Disbursements $ (189,976) Previous Year Adjustment (Explain Below) $ - . FUND BALANCE, END OF REPORTING PERIOD* $ 3,335,919 * 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 2021 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. RJN Group Inc (sewer capacity study) 21,232 Mostardi Platt (environmental study) 12,402 Kane McKenna Associates (TIF consultants) 3,717 ATC Group Services 12,220 Illiniois Tax Increment Association 800 $ 50,371 2. Annual administrative cost. Administrative Service Charge 50,000 $ 50,000 3. Cost of marketing sites. $ - 4. Property assembly cost and site preparation costs. NICOR (service disconnection) 1,508 Langos Corp 20,990 Acquisition 139 E Golf Terrace 525,000 Cook County Treasurer (1,180) $ 546,318 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 $ 646,689  Section 3.2 B FY 2021 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 General Fund Administrative Services $ 50,000.00 RJN Group Consulting Services $ 21,232.00 Mostardi Platt Consulting Services $ 12,402.00 Kane McKenna Associates Consulting Services $ 3,717.00 ATC Group Services Consulting Services $ 12,220.00 Langso Corp Demolition 139 E Golf Terrace $ 20,990.00 NICOR Utility Shut off 139 E Golf Terrace $ 1,508.00 Larry and Rick Bertolozzi Land Acquisition 139 E Golf Terrace $ 525,000.00 Illinois Tax Increment Association Membership Dues $ 800.00  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 2021 TIF NAME: *TIF Name will populate on every page FUND BALANCE BY SOURCE $ 3,335,919 - Amount of Original Issuance Amount Designated 1. Description of Debt Obligations Total Amount Designated for Obligations $ - $ - 2. Description of Project Costs to be Paid Redevelopment 5,350,000 Corridor Beautification 127,000 Total Amount Designated for Project Costs $ 5,477,000 - 3. Distribution of Surplus [65 ILCS 5/11-74.4-7] Total Amount OF Surplus Distribution $ - TOTAL AMOUNT DESIGNATED $ 5,477,000 - SURPLUS/(DEFICIT) $ (2,141,081) -  SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] FY 2021 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 Redevelopment Project Area. Property Acquired by the Municipality Within the Redevelopment Project Area. Property (1): Street address: 139 E Golf Terrace Approximate size or description of property: 30,000 sf Purchase price: 525,000.00 Seller of property: Larry Bertolozzi and Rick Bertolozzi 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: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (8): 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 2021 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.) 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) $ 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*: Autumn 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 2021 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 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: Golf Road and Arlington Heights Road Optional Documents Enclosed Legal description of redevelopment project area Map of District  ATTACHMENT A (TIF 4) The following amendments were made to the TIF 4 Redevelopment Plan and Project and Village Comprehensive Plan. 1. Ordinance 21-005 Amendment to the Village Comprehensive Plan 2. Ordinance 21-006 Amendment to the TIF 4 Redevelopment Plan and Project.  II I I I IIIIIIIIIII I I I I I I I vI I I I I I IIII oL114447 9c 4 47004 Fee $ 38. 00 Ili co 2,, 4 KAREN A. YARBROUGH CLERK COUNTY COOK PG. 1 OF G DATE: 05/ 24/ 2021 10: 34 An Prepared by: Village of Arlington Heights Legal Department 33 S. Arlington Heights Rd Arlington Heights, IL 60005 AN ORDINANCE AMENDING THE COMPREHENSIVE PLAN FUTURE LAND USE MAP OF THE VILLAGE OF ARLINGTON HEIGHTS WHEREAS, in Petition Number 21- 001, on January 27, 2021, pursuant to notice, the Plan Commission of the Village of Arlington Heights conducted a public hearing to consider an amendment to the Comprehensive Plan Future Land Use Map which includes a change to the land use designation for approximately 18 acres of land located at the northeast corner of Golf and Arlington Heights Roads, Arlington Heights, Illinois, which properties are legally described in Exhibit A and depicted in the Future Land Use Map in Exhibit B, attached . to this Ordinance; and WHEREAS, the President and Board of Trustees have reviewed the minutes of the Plan Commission hearing and determined that amendment to the Comprehensive Plan Future Land Use Map is in the best interests of the Village of Arlington Heights, NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF ARLINGTON HEIGHTS: SECTION ONE: The Comprehensive Plan Future Land Use Map of the Village of Arlington Heights is hereby amended by changing the land use designation for the properties legally described in Exhibit A and depicted in the Proposed Future Land Use Map in Exhibit B, attached hereto and made a part hereof, from a" commercial" use to a" mixed" use. SECTION TWO: The revision to the Comprehensive Plan Future Land Use Map shall be placed on file with the Village Clerk and shall be available for public inspection. SECTION THREE: This Ordinance shall be in full force and effect froiri and after its passage and approval in the manner provided by law and shall be recorded in the Office of the Cook County Clerk. AYES: Schwingbeck, Saldino, Canty, Rosenberg, LaBedz, Tinaglia, Scaletta, Padovani, Bayes  NAYS: None 1st PASSED AND APPROVED this day of March, 2021. C. ATTE T: Village President Village Clerk Lag MISCORD: Comprehensive Plan— TIF# 4 with Exhibit 2_  Exhibit A 1665 S Arlington Heights Rd, Arlington Heights, IL 60005 PIN 08- 09- 402- 003- 0000 That part of the Southeast 1/ 4 of Section 9, Township 41 North, Range 11, East of the Third Principal Meridian, described as follows: commencing at a point 837. 37 feet North of the Southeast corner of said Section 9 and running thence West 281. 00 feet; thence Southerly 167. 89 feet; thence East 281. 00 feet to the East line of said section; thence North 167. 47 feet to the point of beginning, in Cook County, Illinois. 5- 39 E Golf Terrace, Arlington Heights, IL 60005 PIN 08- 09- 402- 023- 0000 Lot 2 ( except that part thereof described as follows: beginning at the Southwest corner of said Lot 2; thence on an assumed bearing of North 3 degrees 25 minutes 58 seconds East along the West line of said Lot 2 for a distance of 100. 78 feet; thence South 1 degree 38 minutes 34 seconds West 100. 63 feet to a point on the South line of said Lot 2; thence South 89 degrees 54 minutes 00 seconds West along said South line, 3. 15 feet to the point of beginning) in Anderson' s Subdivision of part of the Southeast 1/ 4 of Section 9, Township 41 North, Range 11 East of the Third Principal Meridian, in Cook County, Illinois. 133 E Golf Terrace, Arlington Heights, IL 60005 PIN 08- 09- 402- 011- 0000 That part of the Southeast 1/ 4 of the Southeast '/ 4 of Section 9, Township 41 North, Range 11, East of the Third Principal Meridian, described as follows: commencing 334. 95 feet North of and 195. 06 feet West of the Southeast corner of Section 9, Township 41 North, Range 11, East of the Third Principal Meridian, thence North 334. 95 feet parallel to the East line of said Section 9, thence West 79. 33 feet parallel to the South line of said Section 9, thence South 334. 95 feet; thence East 79. 33 feet, to the point of beginning. 135 E Golf Terrace, Arlington Heights, IL PIN 08- 09- 402- 012- 0000 That part of the Southeast '/ 4 of the Southeast '/ 4 of Section 9, Township 41 North, Range 11, East of the Third Principal Meridian, described as follows: commencing 334. 95 feet North and 130. 04 feet West of the Southeast corner of Section 9, Township 41 North, Range 11, East of the Third Principal Meridian, thence 334. 95 feet; thence West 65. 02 feet parallel to the South line of said Section 9, thence South 334. 95 feet parallel to East line of said Section 9, thence 65. 02 feet East to the point of beginning, in Cook County, Illinois 3 139 E Golf Terrace, Arlington Heights, Illinois P. I.N. 08- 09- 402- 013- 0000 That part of Section 9, Township 41 North, Range 11, East of the Third Principal Meridian, in Elk Grove Township, Cook County, Illinois described as follows: commencing 334. 95 feet North of the South East corner of said Section 9; thence West 130 feet; thence North 334. 95 feet; thence East 130 feet to the East line of said Section 9; thence South in the East line of said Section 9, 334. 95 feet, to the place of beginning. 4 E Golf Rd, Arlington Heights, IL PIN 08- 09- 402- 025, 08- 09- 402- 027, 08- 09- 402- 028 Lot 2 in " Tom' s Acres" ( except that part thereof condemned in Case No. 93 L 50743), in said Tom' s Acres," a subdivision in the South East '/ 4 of Section 9, Township 41 North, Range 11, East of the Third Principal Meridian, according to plat thereof registered in the Office of the Registrar of Titles of Cook County, Illinois on June 26, 1973 as Document No. LR2700380, in Cook County, Illinois. 20 E Golf Rd, Arlington Heights, IL PIN 08- 09- 402- 026- 0000 Parcel 1: That part of the Southeast I/ 4 of the Southeast '/ 4 of Section 9, Township 41 North, Range 11 East of the Third Principal Meridian, described as follows: commencing at a point of the South line of Section 9, which is 425. 08 feet West of the Southeast corner of said Section 9; thence North and parallel with the East line of said Section 159. 50 feet to the point of beginning; thence continuing North of said parallel line 7. 50 feet; thence East and parallel with the South line of said section 165. 00 feet to a point that is 260. 08 feet West of and 167. 00 feet North of Southeast corner of said section, as measured on the South and East lines thereof, thence South and parallel with the East line of said Section 1 foot; thence West 165. 06 feet to the point of beginning in Cook County, Illinois. Parcel 2: Lot 1 1( excepting therefrom the South 10 feet taken in Case 93L50353) in Tom' s Acres, a subdivision in the Southeast 1/ 4 of Section 9, Township 41 North, Range 11, East of the Third Principal Meridian in Cook County, Illinois. International Plaza 120 E Golf Rd to 388 E Golf Rd ( even numbered addresses) PIN 08- 09- 402- 0081 08- 09- 402- 016, 08- 09- 402- 017; 08- 10- 302- 025, 08- 10- 302- 026, 08- 10- 302- 005 That part of the Southeast 1/ 4 of Section 9 and part of the Southwest 1/ 4 of Section 10, all in Township 41 North, Range 11, East of the Third Principal Meridian described as follows: beginning at the Southeast corner of Section 9, as aforesaid; thence West along the South line of said Section 9, a distance of 260. 08 feet; thence North, parallel with the East line of said Section 9, a distance of 334. 95 feet; thence East parallel with the South line of said Section 9, a distance 4 of 290. 08 feet to the East line of said Section 9, being also the West line of Section 10, Township and Range aforesaid; thence North along said West line 502. 41 feet to the South line of the North 502. 5 feet of the West 1/ 2 of the Southwest '/ 4 of the Southwest 1/ 4 of said Section 10, thence East along said South line 660. 93 feet to the East line of the West 1/ 2 of the Southwest 1/ 4 of the Southwest 1/ 4 of said Section 10; thence South along said East line 799. 07 feet to the North line of Golf Road as dedicated by Document Numbers LR2351615 and 1048808; thence West along said North line, 289. 07 feet to a line 372. 0 feet East of and parallel with the West line of said Section 10; thence South along said parallel line 43. 70 feet to the South line of said Section 10; thence West along said South line 130. 0 feet thence North parallel with the West line of said Section 10, a distance of 45. 90 feet to the North line of Golf Road, as aforesaid; thence West along said North line 142. 0 feet to a line 100. 0 feet East of and parallel with the West line of said Section 10; thence South along said parallel line 48. 31 feet to the South line of said Section 10; thence West along said South line 100. 0 feet to the place of beginning, in Cook County, Illinois. 5  Exhibit B Future Land Use Map Comprehensive Plan Land Use Map 77 a ._...,_._._._-__ _ z Legend Single- Family Residential O i F i f_ Moderate Density Multi- Family Offices Only r Institutional ae Mixed Use Parks 6 4 commercial 9 u. Whl.' E.. Ce wyl 1 K ErGc utsii Tt"{;" Eaieix cil Trl "., Gcruiit 7r1 ._ d 11 x a., r n A a h i Cat or vv EGIf Rei G' i( t?Q i egna$ 16i 6 ATTACHMENT C  ATTACHMENT E AN ORDINANCE AUTHORIZING THE EXECUTION OF A REAL ESTATE CONTRACT WHEREAS, it is the desire of the Village of Arlington Heights to acquire the property located at 139 E Golf Terrace (" Subject Property"), Arlington Heights, Illinois; and WHEREAS, the Village and the owners of the Subject Property have negotiated the sale of the Subject Property for the sum of$ 525, 000; and WHEREAS, the President and Board of Trustees of the Village of Arlington Heights have determined that the best interests of the Village of Arlington Heights will be served by the purchase of the Subject Property at the negotiated purchase price, NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF ARLINGTON HEIGHTS: SECTION ONE: That the Village of Arlington Heights hereby agrees to purchase the Subject Property, which is legally described as: That part of Section 9, Township 41 North, Range 11, East of the Third Principal Meridian, in Elk Grove Township, Cook County, Illinois described as follows: commencing 334. 95 feet North of the South East corner of said Section 9; thence West 130 feet; thence North 334. 95 feet; thence East 130 feet to the East line of said 9; thence South in the East line of said Section 9, 334. 95 feet, to the place of beginning. P. I.N. 08- 09- 402- 013- 0000 and which is commonly known as 139 E Golf Terrace, Arlington Heights, Illinois. The purchase price of the Subject Property shall be $ 525, 000. SECTION TWO: The Village President and Village Clerk are hereby authorized to sign and execute the real estate contract to purchase the Subject Property. SECTION THREE: This Ordinance shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: Baldino, Canty, Rosenberg, LaBedz, Schwingbeck, Padovani, Tinaglia, Scaletta, Hayes NAYS: None PASSED AND APPROVED this 7th day of December, 2020. ATTEST: Village President Village Clerk wvu/, Real Estate Contract— 139 E Golf Terrace  Date: q RICK BERTOLOZZI, Successor Trustee of the Tosca Bertolozzi Trust Date: J C PURCHASER: VILLAGE OF ARLINGTON HEIGHTS By: Z C Its: V, t' P Date: Z 937545. 1  PURCHASE AND SALE AGREEMENT Summary of Terms of Purchase and Sale Agreement(" Agreement"): Date of Agreement: Date last signed below. Purchaser: The Village of Arlington Heights, 33 N. Arlington Heights Road, Arlington Heights, IIlinois 60005. Seller: Larry Bertolozzi and Rick Bertolozzi, Successor Trustees of the Tosca Bertolozzi Trust; Email: l arab erto I ozz iQ( Jiofmai l. co m Purchaser' s Counsel: Lisa Farrington, 33 N. Arlington Heights Road, Arlington Heights, Illinois 60005; Email: 1( arjin. na@,yah con. Seller' s Counsel: James E. Macholl Storino Ramello & Durkin 9501 W. Devon, 8th Floor, Rosemont, Illinois 60018; Email: jaznes @srd- Ia, m. cofn. PropeM Address- 139 Golf Terrace, Arlington Heights, Illinois 60005. Property Description: Consists of: ( a) the land described in Exhibit A attached to this Agreement consisting of approximately 39, 272 square feet(" Land) and ( b) one building consisting of approximately 1., 241 square feet and all other improvements on or to the Land ( collectively, " Improvements") collectively, the Land and Improvements are referred to herein as the" Property"). Personal Property: The items of personal property set forth in the attached Exhibit B. Purchase Price: $ 525, 000. 00 Earnest Money:$ 50, 000. 00 within five ( 5) business days of the Effective Date ( the " Earnest Money") which shall be held by the Escrow Agent/Title Company. Due_ Diliaence Contingency Termination Date: Sixty ( 60) days following the Effective Date unless Purchaser determines that a Phase II is necessary and then the tennination date is extended by an additional Sixty( 60) days. Seller' s Tenant: The Seller' s current oral month- to- month lease of the Property to the tenant. Closing Date: April 19, 2021 or earlier by mutual written agreement by the parties. Escrow Agent/ Title Company: Attorney' s Title Guaranty Fund. Effective Date: The `' Effective Date" shall be the later to occur of ( i) Purchaser' s execution of this Agreement, or( ii) Seller' s execution of this Agreement. The terms above shall have the meanings ascribed to them when used in this Agreement. Seller and Purchaser agree as follows: 9401 19. 1  Revised 9. 17. 20 ARTICLE 1 PURCHASE AND SALE 1. 1. Purchase Sale. and Seller shall sell to Purchaser, and Purchaser shall purchase from Seller, the Property strictly in accordance with and subject to the terms, conditions, and provisions hereinafter set forth. 1. 2 Purchase Price. The price to be paid by Purchaser to Seller for the Property shall be the Purchase Price. ARTICLE 2 PAYMENT TERMS 2. 1 Earnest Money. Purchaser shall deliver$ 50, 000. 00 within five( 5) business days after the Effective Date. The Earnest Money shall be held by Escrow Agent for the mutual benefit of the parties hereto pursuant to the provisions of Escrow Agent' s standard joint order escrow instructions. All interest and earnings from the Earnest Money shall become part of the Earnest Money, to be distributed to Purchaser or Seller as provided in other provisions of this Agreement. 2. 2 Balance of Purchase Price. Provided that all conditions precedent to Purchaser' s obligations set forth herein are satisfied and Seller has performed all of its obligations hereunder, the balance of Purchase Price, plus or minus prorations, shall be paid to Seller by certified or cashier' s check or by wire transfer at Closing. ARTICLE 3 PURCHASER' S CONDITIONS 3. 1 Due Diligence Investigation. a) Purchaser, its agents, engineers, employees, attorneys, accountants, lenders, investors, contractors and surveyors shall have the right to conduct all tests, inspections, feasibility and other studies and all other investigations concerning the Property that Purchaser reasonably requires ( including,,, without limitation, environmental tests and assessments, inspection of the physical condition of the Property, investigation of zoning and other legal requirements, but specifically gxcludin_g any invasive testing on the Property, other than sampling for the Purchaser' s asbestos screening, unless Purchaser' s Phase I recommends conducting a Phase II or similar testing) to determine whether the Property is satisfactory to Purchaser. If Purchaser, in its sole and absolute discretion, is dissatisfied with the Property based on the tests, inspections, studies, investigations and review of documents described above, or for any other reason whatsoever, then Purchaser may terminate this Agreement by giving written notice to Seller of such termination (" Termination Notice") at any time on or prior to the Due Diligence Contingency Termination Date. Upon. the termination of this Agreement pursuant to this subsection ( a), the Earnest Money, and all interest earned thereon, shall be returned to Purchaser and neither party shall have any further obligations or liabilities hereunder. In the event that Purchaser does not timely serve the Termination Notice to Seller, all conditions contained in this Section 3. 1( a) shall be considered met, waived or satisfied by Purchaser and the Earnest Money shall be non- refundable to Purchaser except and as otherwise provided herein. b) Purchaser shall pay all costs and expenses of such Due Diligence tests, inspections and investigations and Purchaser shall promptly repair any physical damage to the Property caused by the testing and inspections conducted by Purchaser, its agents, contractors and/ or employees pursuant to Section 3. 1( a) ( collectively, the " Tests"). Purchaser shall promptly remove or bond or insure over any 940119. 1.  Revised 9. 17, 20 mechanics' liens arising from the work performed to complete the Tests to the sole satisfaction of Seller. Purchaser shall indemnify, defend and hold Seller harmless from and against any and all expenses, liabilities, claims, losses, costs or damages( including reasonable attorneys' fees, but excluding incidental or consequential damages) resulting from Purchaser' s failure to comply with its obligations set forth in this subsection ( b). 3. 2 Title Review. Seller, at Seller' s expense, shall order promptly and diligently pursue obtaining and provide Purchaser with: ( a) a title commitment ( the " Commitment") issued by the Title Company covering the Property within thirty ( 30) days after the Effective Date, ( b) copies of all documents described in Schedule B of the Commitment within thirty ( 30) days after the Effective Date, and ( c) a survey of the Property dated after the date hereof, acceptable to the title company, and made in accordance with the Minimum Standard Require nents for a ALTA Survey( the " Survey") within 45 days after the Effective Date. No later than ten ( 10) business days after Purchaser receives all of the items described in this Section 3. 2( a), ( b) and ( c) from Seller, Purchaser shall notify Seller ( the " Objection Notice") which of the liens, encumbrances and other matters described in the Commitment or on the Survey that are unacceptable to Purchaser ( the " Unpermitted Matters"), and then Seller, as a condition precedent to Purchaser' s obligation to close, shall then have until the date that is thirty ( 30) days after receipt of the Objection Notice (" Seller' Cure Period") s to remove such Unpermitted Matteis or remedy same in a manner satisfactory to Purchaser. The matters in the Commitment that are not Unpermitted Matters shall. be " Permitted Exceptions." If Seller is unable to remove any such Unpermitted Matters or remedy same in a manner satisfactory to Purchaser within the time period described above, Purchaser shall have the option to: ( y) proceed with this Agreement, or( z) terminate this Agreement, in which event the Earnest Money, and all interest earned thereon, shall be returned to Purchaser and neither party shall have any further abligations or liabilities hereunder. At the Closing, and as a further condition of Purchaser' s performance of its obligations hereunder, Seller shall cause the Title Company to deliver to Purchaser a 2006 ALTA owner' s Title Commitment ( the " Title issued in accordance with the Policy") provisions of the Commitment containing only the Permitted Exceptions. ARTICLE 4 CLOSING 4. 1 Closing Date. Subject to the provisions of Article 3 of this Agreement and any other applicable provisions hereof, the sale of the Property to Purchaser and the other transactions described herein shall be consummated ( the " Closing") on the Closing Date. The Closing shall take place at the office of the Escrow Agent through an escrow created under an agreement mutually satisfactory to Purchaser and. Seller, in their reasonable discretion. 4. 2 Closing Documents and Delivery of Possession. a) Seller Deliveries. Seller shall deliver to Purchaser at Closing, in form and substance reasonably acceptable. to Purchaser, the following closing documents: i) a Special Warranty Deed in recordable form, duly executed and acknowledged by Seller, conveying the Property to Purchaser, subject only to the Permitted Exceptions; ii) a Bill of Sale conveying all of Seller' s right, title and interest in the Personal Property and containing customary warranty of title, but no other warranties; iii) such other documents and instruments as are required to transfer Seller' s interest in the Property to Purchaser, including, without limitation, all consents from third 940119. 1  Revised 9. 17. 20 parties that are required to properly and legally effect the transfer of the various rights, titles and interests contemplated hereunder. iv) an ALTA extended coverage statement and/ or title affidavits, gap undertaking, and all. other affidavits, certifications and other documents required by the Title Company in connection with its issuance of the Title Policy; v) a non- foreign affidavit from Seller certifying that Seller is not a" foreign person," foreign estate," " foreign corporation" or " foreign partnership" or any other foreign entity as such terms are defined in Section 1445 of the Internal Revenue Code and the income tax regulations promulgated thereunder; and vi) all keys, combinations and other similar items required to properly deliver possession and control of the Property to Purchaser; b) Purchaser Deliveries. Purchaser shall deliver to Seller at Closing the balance of the Purchase Price, plus or minus prorations, together with the following documents: an ALTA extended coverage statement and/ or title affidavits, gap undertaking, and all other affidavits, certifications and other documents required by the Title Company in connection with its issuance of the Title Policy. Joint Deliveries, c) Seller and Purchaser shall jointly deliver ( i) a closing statement and ( ii) all required real estate transfer tax declarations, returns or affidavits. ARTICLE 5 PRORATIONS 5. 1 Real Estate Taxes and. Assessments. Taxes assessed for 2020 shall be prorated as of the date of Closing based 110% upon of the 2019 general real estate taxes. Purchaser shall be obligated to pay all Taxes due and payable on and after the date of Closing. ARTICLE 6 CLOSING COSTS 6. 1 Seller Costs. Seller shall pay the following costs and expenses at or prior to Closing: i) cost for the survey, state and county real estate transfer taxes and fees, if any; ii) the title insurance premium for the owner' s Title Policy. All other endorsements required by Purchaser shall be paid by Purchaser; iii) one- half of all settlement or closing fees or charges charged by the Title Company; and iv) recording fees for any satisfaction of its existing liens and encumbrances. 6. 2 Purchaser Costs. Purchaser shall pay the following costs and expenses at or prior to Closing: i) all reports or studies ordered by it such as appraisals, engineering inspection reports or hazardous waste study reports, and all. of its feasibility and inspection reports and financial analyses; 9401 19. 1  Revised 9. 17. 20 ii) the cost of title endorsements not being paid by Seller as provided for in Section 6. 1( ii) above; iii) one- half of all settlement or closing fees charged by the Title Company, and wire transfer fees; iv) recording fees for the Special Warranty Deed and Purefi^^^`' S loan ^ deems^^ ARTICLE 7 REAL ESTATE COMMISSIONS Each party represents and warrants to that no person or entity acting as real estate broker, finder or real estate agent brought about this Agreement. Seller agrees to and does hereby indemnify Purchaser from all loss, damage, cost, or expense( including attorneys' fees) that Purchaser may suffer as a result of any claim or action brought by the Seller' s Broker or any other person or entity acting or allegedly acting on behalf of Seller in connection with this transaction, and Purchaser agrees to and does hereby indemnify and hold Seller harmless from all loss, damage, cost, or expense ( including attorneys' fees) that Seller may suffer as a result of any claim or action brought by any person or entity acting or allegedly acting on behalf of Purchaser in connection with this transaction. ARTICLE, 8 REPRESENTATIONS WARRANTIES AND COVENANTS 8. 1 Seller' s Representations. Seller represents to Purchaser that the following are true and correct as of the date of this Agreement: a) Seller has not received any written notice of any litigation, claim, demand, action, or cause of action of any governmental agency or instrumentality affecting the Property, including, without limitation, notices of zoning, building, health, fire or environmental code violations which remain uncured. b) Except for the Seller' s Tenant there are no leases, licenses, tenancies, or occupancy agreements affecting the Property and possession of the Property will be transferred to Purchaser at closing free and clear of all leases, licenses, tenancies or occupancy agreements. c) Seller has full power and authority to enter into this Agreement, bind Seller and the Property to the commitments made hereunder, and convey or cause the conveyance of the Property to Purchaser and the execution, delivery and performance by Seller of this Agreement shall not constitute or cause a default or breach of any agreement or undertaking of Seller or concerning the Property. d) No non- resident foreign taxpayers, or domestic corporations owned by non- resident foreign taxpayers, or any other similar person or entity will be entitled to all or any of the proceeds from the sale of Property hereunder such that the withholding requirements set forth in Sections 1445 and/ or 6039( c) of the Internal Revenue Code are or will be applicable to all or a portion of the Purchase Price to be paid pursuant to this Agreement. g) Environmental. Seller warrants there are no existing, threatened or pending claims relating to the breach of any Environmental Laws ( as hereinafter defined) pertaining to the Real Property or the Personal Property, and Seller has delivered to Buyer copies of all written reports, written notices, written communications and other documents concerning Hazardous Materials on or about the Property that is in its possession as of the Effective Date( and Seller shall deliver to Buyer any such documents that 940119. 1  Revised 9. 17. 20 it thereafter receives the until Closing or earlier termination of this Agreement). As used in this Agreement, the term " Hazardous Materials" shall mean asbestos, asbestos- containing materials, PCBs, petroleum products, urea formaldehyde, foam insulation and any other substance which at any time has been determined by any governmental authority of or within the United States or the State of Illinois to be capable of posing a risk of injury to health, safety, property or the environment, including without limitation all of those materials and substances at any time and from time to time designated as hazardous or toxic by the United States Environmental Protection Agency, the Illinois Environmental Protection Agency, or any other governmental or other appropriate agency having jurisdiction over the Property. Without limiting the generality of the foregoing, the term " Hazardous Materials" shall include all of those substances defined as " hazardous substances," " hazardous materials," " toxic substances," " solid waste," hazardous waste" or " toxic materials" in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended 42 U. S. C. Section 9601, et seq.; the Hazardous Materials Transportation Act, 49 U. S. C. Section 1801, et seq.; the Resource Conservation and Recovery Act, 42 U. S. C. Section 6901, et seq.; the Water Pollution Control Act, 33 U. S, C. Section 1251, et seq.; the Safe Drinking Water Act, 42 U. S. C. Section 300( f) et seq.; the Toxic Substances Control Act, 15 U. S. C. Section 2601 et seq.; the Clean Air Act, 42 U. S. C. Section 7401, et seq.; Superfund Amendments and Reauthorization Act, 42 U. S. C. § 9601 et seq.; and/ or related rules and regulations, any corresponding law or laws of the State of Illinois of related or similar scope or effect and in the amendments and regulations adopted and publications promulgated pursuant to said laws ( collectively, " Environmental. 8. 2. 1 Purchaser' s Representations. Purchaser represents and warrants to Seller that: a) Purchaser has the power and authority to execute and deliver this Agreement and to perform its obligations liereunder. b) The execution of this Agreement by Purchaser is the duly authorized and legally binding action of Purchaser, and upon execution hereof Purchaser shall be bound by and subject to the terms and provisions of this Agreement. c) Purchaser has, and will have at closing, sufficient funds to pay the entire Purchase Price and all its closing costs without having.to obtain financing from any outside source or to raise any money in any manner that would be applied toward the Purchase Price. ARTICLE 9 CASUALTY OR CONDEMNATION In the event prior to the Closing, of (a) material damage or casualty to the Property, or ( b) a condemnation or other taking of the Property, or any part of the Property, or any rights of access or other material rights benefiting the Property as a result of the exercise of the power of eminent domain, or in the event that any type of proceeding for such a condemnation or taking is commenced prior to the Closing by any governmental body then, in any such case, Seller shall promptly notify Purchaser in writing of such event, and Purchaser shall have the option to either: ( i) terminate this Agreement, in which event the Earnest Money, and all interest earned thereon, shall be returned to Purchaser and neither party shall have any further obligations or liabilities hereunder; or ( ii) proceed with the Closing. I.f Purchaser elects to proceed with the Closing, Seller shall assign to Purchaser all right, title and interest in and to the condemnation awards, in the event of eminent doanain, or insurance proceeds ( including casualty proceeds and rent loss proceeds for rent accruing after Closing), in the event of damage or casualty, and shall pay to Purchaser the amount of all deductibles. Purchaser shall exercise its option under clause ( i) or( ii) of this Article 9 by providing Seller with a written notice of its decision within thirty( 30) days after Purchaser receives written notice of the condemnation or damage or casualty, and the Closing Date shall 9401 19. 1  Revised 9. 17. 20 be extended, if necessary, to permit Purchaser to make such election within such time period. For purposes hereof," material" damage or casualty shall mean damage or casualty costing more than $ 50, 000 to repair, as determined by an insurance adjuster ( in case of or appraiser ( in case of casualty) condemnation) mutually selected by Seller and Purchaser within ten ( 10) days of notice of such casualty or condemnation. ARTICLE 10 DEFAULT/ REMEDY 10. 1 Seller Default. In the event of a default by Seller of which Purchaser is aware prior to Closing in the performance or observance of any of Seller' s duties or obligations herein contained, and upon the failure of Seller to cure such default within seven ( 7) days following written notice therefrom Purchaser, then Purchaser, at its option and as its sole remedies, may either: ( a) terminate this Agreement in which event the Earnest Money and all interest earned thereon shall be returned to Purchaser; ( b) seek monetary damages, in an amount not to exceed the amount of Earnest Money on deposit; or ( c) seek specific performance of this Agreement. 10. 2 Purchaser Default. In the event of a default by Purchaser of which Seller is aware prior to Closing in the performance or observance of any of Purchaser' s duties or obligations herein contained, and upon the failure of Purchaser to cure such default within seven ( 7) days following written notice thereof from Seller, then Seller may terminate this Agreement and the Earnest Money and all interest earned thereon shall be paid to Seller as liquidated damages. 10. 3 Costs. All reasonable attorneys' fees and court costs incurred by the prevailing party in an action to construe or enforce this Agreement against a defaulting party shall be paid by the defaulting party. ARTICLE 1 I PROPERTY SOLD" AS IS". 11. 1 Except as is otherwise expressly provided in this Agreement, Seller hereby specifically disclaims any warranty ( oral or written) concerning: ( i) the nature and condition of the Property and the suitability thereof for any and all activities and uses that Purchaser elects to conduct thereon; ( ii) the manner, construction, condition and state of repair or lack of repair of the Improvements; ( iii) the compliance of the Land and the Improvements or their operation with any laws, rules, ordinances or regulations of any government or other body; and ( iv) any other matter whatsoever except as expressly set forth in this Agreement. EXCEPT AS IS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT, THE SALE OF THE PROPERTY AS PROVIDED FOR HEREIN IS MADE ON A STRICTLY " AS IS"" WHERE 1S" BASIS AS OF THE CLOSING DATE, AND SELLER MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, BUT IN NO WAY LIMITED TO, ANY WARRANTY OF QUANTITY, QUALITY, CONDITION, HABITABILITY, MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY, ANY IMPROVEMENTS LOCATED THEREON OR ANY SOIL CONDITIONS RELATED THERETO. PURCHASER SPECIFICALLY ACKNOWLEDGES THAT PURCHASER IS NOT RELYING ON AND SELLER HEREBY DISCLAIMS AND RENOUNCES) ANY REPRESENTATIONS OR WARRANTIES MADE BY OR ON BEHALF OF SELLER OF ANY KIND OR NATURE WHATSOEVER, EXCEPT FOR THOSE PARTICULAR REPRESENTATIONS AND WARRANTIES EXPRESSLY PROVIDED IN THIS AGREEMENT. FURTHER, PURCHASER, FOR PURCHASER AND PURCHASER' S SUCCESSORS AND ASSIGNS, HEREBY RELEASES SELLER FROM, AND 940119. 1  Revised 9. 17. 20 WAIVES, ANY AND ALL CLAIMS AND LIABILITIES AGAINST SELLER FOR, RELATED TO, OR IN CONNECTION WITH:, ANY ENVIRONMENTAL OR PHYSICAL CONDITION AT THE PROPERTY ( OR THE PRESENCE OF ANY MATTER OR SUBSTANCE RELATING TO THE ENVIRONMENTAL CONDITION OF THE PROPERTY), INCLUDING, BUT NOT LIMITED 1' 0, CLAIMS AND/ OR LIABILITIES RELATING TO ( IN ANY MANNER WHATSOEVER) ANY HAZARDOUS, TOXIC OR DANGEROUS MATERIALS OR SUBSTANCES LOCATED IN, AT, ABOUT OR UNDER THE PROPERTY, OR FOR ANY AND ALL CLAIMS OR CAUSES OF ACTION ( ACTUAL OR THREATENED) BASED UPON, IN CONNECTION WITH, OR ARISING OUT OF, CERCLA, AS AMENDED BY SARA, AND AS MAY BE FURTHER AMENDED FROM TIME TO TIME, RCRA, OR ANY OTHER CLAIM OR CAUSE OF ACTION ( INCLUDING ANY FEDERAL OR STATE BASED STATUTORY, REGULATORY OR COMMON LAW CAUSE OF ACTION) RELATED TO ENVIRONMENTAL MATTERS OR LIABILITY WITH RESPECT TO, OR AFFECTING, THE PROPERTY. PURCHASER REPRESENTS TO SELLER THAT PURCHASER HAS CONDUCTED, OR WILL CONDUCT PRIOR TO CLOSING, SUCH INVESTIGATIONS OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF, AS PURCHASER DEEMS NECESSARY TO SATISFY ITSELF AS TO THE CONDITION OF THE PROPERTY AND THE EXISTENCE OR NONEXISTENCE OF, OR CURATIVE ACTION TO BE TAKEN WITH RESPECT TO, ANY HAZARDOUS OR TOXIC SUBSTANCES ON OR DISCHARGED FROM THE LAND OR THE IMPROVEMENTS, AND WILL RELY SOLELY UPON SAME AND NOT UPON ANY INFORMATION PROVIDED BY, OR ON BEHALF OF, SELLER, ITS AGENTS AND EMPLOYEES WITH RESPECT THERETO, OTHER THAN SUCH REPRESENTATIONS AND WARRANTIES OF SELLER AS ARE EXPRESSLY SET FORTH IN THIS AGREEMENT. UPON CLOSING, PURCHASER SHALL ASSUME THE RISK THAT ADVERSE MATTERS, INCLUDING BUT NOT LIMITED TO, CONSTRUCTION DEFECTS AND ADVERSE PHYSICAL AND ENVIRONMEN-1: 1AL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY PURCHASER' S INVESTIGATIONS, AND PURCHASER, UPON CLOSING, SHALL BE DEEMED TO HAVE WAIVED, RELINQUISHED AND RELEASED SELLER FROM AND AGAINST ANY AND ALL CLAIMS, DEMANDS, CAUSES OF ACTION ( INCLUDING CAUSES OF ACTION IN TORT), LOSSES, DAMAGES, LIABILITIES, COSTS AND EXPENSES ( INCLUDING ATTORNEYS' FEES AND COURT COSTS) OF ANY AND EVERY KIND OR CHARACTER, KNOWN OR UNKNOWN, WHICH PURCHASER MIGHT HAVE ASSERTED OR ALLEGED AGAINST SELLER, AT ANY TIME BY REASON OF OR ARISING OUT OF ANY LATENT OR PATENT CONSTRUCTION DEFECTS OR PHYSICAL CONDITIONS, VIOLATIONS OF ANY APPLICABLE LAWS ( INCLUDING, WITHOUT LIMITATION, ANY ENVIRONMENTAL LAWS) AND ANY AND ALL OTHER ACTS, OMISSIONS, EVENTS, CIRCUMSTANCES OR MATTERS REGARDING THE PROPERTY. 11. 2 PURCHASER ACKNOWLEDGES AND AGREES THAT THE WAIVERS, RELEASES AND OTHER PROVISIONS CONTAINED IN THIS SECTION WERE A MATERIAL FACTOR IN SELLER' S ACCEPTANCE OF THE PURCHASE PRICE AND THAT SELLER IS UNWILLING TO SELL THE PROPERTY TO PURCHASER UNLESS SELLER IS RELEASED AS EXPRESSLY SET FORTH ABOVE. PURCHASER, WITH PURCHASER' S COUNSEL, HAS FULLY REVIEWED THE DISCLAIMERS AND WAIVERS SET FORTH IN THIS AGREEMENT, AND UNDERSTANDS THE SIGNIFICANCE AND EFFECT THEREOF. THE TERMS AND CONDITIONS OF THIS SECTION WILL EXPRESSLY NOT SURVIVE THE CLOSING, WILL NOT MERGE WITH THE PROVISIONS OF ANY CLOSING DOCUMENTS, AND WILL NOT BE INCORPORATED INTO THE DEED. 940119. 1  ARTICLE 12 MISCELLANEOUS 12. 1 Notices. Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given( a) on the same date as the date on which such notice is delivered personally or sent by fax or email,( b) on the date that is three( 3) businessdays after the date on which suchnotice is deposited in the United Statesmail, registered or certified mail, postage prepaid, return receipt requested, or( c) on the date that is one( 1) business day after the date on which such notice is sent by overnightcourier services( such as FedEx or any other national courier service), and, in each case, addressed to the applicable party and its attorney at their addresses set forth in the Summary of Terms at the beginning of this Agreement( or to such other.address as either party may from time to time specify in a written notice to the other in accordance with the terms hereof). 12. 2 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois. 12. 3 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same document. Furthermore, executed counterparts of this Agreement maybe delivered by facsimile or other reliable electronic means ( including emails of PDF documents), and such facsimile or other electronic transmission shall be valid and binding for all purposes when transmitted to and actually received by the otherparty. Notwithstanding the foregoing, each party delivering executed documents by facsimile or other electronic means agrees to provide the other patty with an original, hard copy of the relevant signed documents promptly after the request of the other party. 12. 4 Time of Essence. Time is of the essence of this Agreement. 12. 5 Seller' s Tenant. Both parties acknowledge that there is currently Seller' s tenant on the property. Seller warrants that there is no written agreement for the Seller' s tenant. Seller further warrants that the tenancy is month- to- month with rent in the a nount of$ 1, 700. 00 per month and Seller is holding a security deposit on behalf of the tenant in the amount of$ 1, 700. 00. If the Purchaser does not terminate the Agreement by the Due Diligence Contingency Termination Date, Seller agrees to provide written notice to the tenant( with a copy to the Purchaser) stating that the Property will be sold to the Purchaser and the tenant must vacate within sixty( 60) days. If,after receiving this notice, the tenant does not pay rent in full, the Purchaser will give the Seller a credit at closing for the actual dollar amount of rent that is unpaid from the time of notice until closing if the Seller provides written certification that rent was n o t paid in full during that period. Closing shall not be contingent on the tenant vacating before the closing date. If the tenant does not vacate before closing, Seller will give Purchaser a credit at closing for the full amount of the security deposit. This paragraph shall survive closing. IN WITNESS WHEREOF, this Agreement has been executed by the parties hereto as of the date written below. SELLERS: LARRY BERTOLOZZI, Successor Trustee of the Tosca Bertolozzi Trust 937545. 1  Revised 9. 17. 20 EXHIBIT A LEGAL DESCRIPTION OF LAND THAT PART OF SECTION 9, TOWNSHIP 41 NORTH, RANGE ll, EAST OF THE THIRD PRINCIPIAL MERIDIAN, IN ELK GROVE TOWNSHIP, COOK COUNTY, ILLINOIS DESCRIBED AS FOLLOWS: COMMENCING 334. 95 FEET NORTH OF THE SOUTH EAST COINER OF SAID SECTION 9; THENCE WEST 130 FEET; THENCE NORTH 334. 95 FEET; THENCE EAST 130 FEET TO THE EAST LINE OF SAID 9; THENCE SOUHTH IN THE EAST LINE OF SAID SECTION 9, 334. 95 FEET, T THE PLACE OF BEGINNING, PIN: 08- 09- 402- 01. 3- 0000 9401 19. 1  Revised 9. 17. 20 EXHIBIT B Refrigerator Central Air Conditioner Central Humidifier Light Fixtures Oven/ Range/ Stove Ceilintr Fan Sump Pump All Window Treatment and Hardware Washer Garage Door Opener Dryer All Personal Property owned by :Seller and currently in use by the Tenant 940119. 1  ALTA/ NSPS LAND TITLE SURVEY BY JOHN M. HENRIKSEN 415 E. GOLF ROAD - SUITE 103 ARLINGTON HEIGHTS, ILLINOIS 60005 TEL. 224- 875- 7633 FAX. 224- 875- 7634 WWW.HENRIKSENSURVEY. COM OF N W E THAT PART OF SECTION 9, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN ELK GROVE TOWNSHIP, COOK COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS: COMMENCING 334. 95 FEET NORTH OF THE SOUTHEAST CORNER OF SAID SECTION 9; THENCE S WEST 130 FEET; THENCE NORTH 334. 95 FEET; THENCE EAST 130 FEET, TO THE EAST LINE OF SAID SECTION 9; THENCE SOUTH ON THE EAST LINE OF SECTION 9, 334. 95 FEET TO THE PLACE OF BEGINNING. COMMONLY KNOWN AS: 139 E. GOLF TERRACE, ARLINGTON HEIGHTS, IL. Coo PRopERv TM IRON ROD FOUNID AT 1 R00 SET AT , CO 3.62 EAST wST FACE OF 5001 MLLW 3•10 Ew 3.40 EAST Poo B* X- 9RICK P111 AR Z69 EAST pR1t* 2.77 y-,sT 1q Pillp`R 2.03 1Eit RNNCORI' 3 CORNER PIPE T OfdP FOUND Hp 33.0 NOR IRON 0. 20 pIyIPP5 OF PROP AWT COIAMENCE PANT OF 5.59E4T OF fVACE SST FACE AT PRUI-- n MAO NNL 31. 14swv Of F04CE VEST FACE OF FF3'10E5.g4EAST 2668 00 i PROFESSIONAL LAND SURVEYOR = STATE OF :' 4:tf FENCE 32 97 NTH ILLINOIS .* c. N FACE OF OAI i1EEG 11111110% REFERENCE HAS BEEN MADE TO, ATTORNEYS' TITLE GUARANTY FUND, INC. CONINIIT TENT No. 200222100243, DATED FEBRUARY 13, 2020 9. 41- 11 IN THE PREPARATION OF THIS SURVEY. NOTCHCORNE SOUTH LINE OF SECTION 9 - 41- 11 NTDOFTSECTtOH 40 STATE OF ILLINOIS) COUNTY OF COOK} ORDER NUMBER: 21007- ALTA HEREBY CERTIFIED TO: ATTORNEYS' TITLE GUARANTY FUND, INC. SCALE: 1 INCH = 20 FEET THE VILLAGE OF ARLINGTON HEIGHTS FRACTIONAL INCH FAUIVALEN fS AND TOSCA BERTOLOZZI AS TRUSTEE. OF HUNDREDTHS OF A FOOT ORDERED BY: STORINO, RAMELLO AND DURKIN 0. 01= 1/ 8" 0. 25- 3" THIS IS TO CERTIFY THAT THIS MAP OR PLAT AND THE SURVEY ON WHICH IT BUILDING LINES AND EASEMENTS, IF ANY, SHOWN 0. 02= t/ 4" 0. 33= 4" IS BASED WERE MADE IN ACCORDANCE WITH THE 2016 MINIMUM STANDARD 0.03= 3/ 8" 0. 37= 4- 1/ 2" DETAIL REQUIREMENTS FOR ALTA/ NSPS LAND TITLE SURVEYS, JOINTLY HEREON ARE BUILDING LINES AND EASEMENTS AS 0. 04= 1/ 2" 0. 38= 4- 1/ 2" ESTABLISHED AND ADOPTED BY ALTA AND NSPS, AND INCLUDES ITEMS 1, 2, SHOWN ON THE RECORDED SUBDIVISION PLAT. CONSULT 0. 05= 5/ 8" 0. 42= 5" 0. 06= 3/ 4" 0. 50= 6" 4, 7( a), AND 8 OF TABLE " A" THEREOF. LOCAL AUTHORITIES FOR BUILDING LINES ESTABLISHED 0. 07= 7/ 8" 0. 58= 7" BY LOCAL ORDINANCES. 0. 08= I" 0. 62= 7- 1/ 2" THE FIELD WORK WAS COMPLETED ON JANUARY 08, 2021. 0. 09- 1- 1 / 8. 0. 63 = 7- t /2" PLEASE CHECK LEGAL DESCRIPTION WITH DEED. 030= 1- 1/ 4" 0. 67= 8" 0. 11= 1- 3/ 8" 0. 75= 9" 0. 12= 1- 1/ 2" 0.83= 10" 2021 COMPARE ALL POINTS BEFORE BUILDING AND REPORT 0. 13= 1- 1/ 2" 0. 87= 10- 112" OF PLAT OR MAP 11TH / JANUARY ANY DISCREPANCY IMMEDIATELY. 0. 14= 1- 5/ 8" 0. 88 101/ 2" 0. 15= 1= 3/ 4" 0. 92= 11" 0. 16= 1- 7/ 8" L00= 12" DIMENSIONS ARE NOT TO BE ASSUMED FROM SCALING. ILLINOIS PROVMSSIO NSURVEYOR NO.2668 LICENSE 0. 17= 2" EXP OVEMBER 30, 2022. I  ATTACHMENT F AND K VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS BALANCE SHEET TAX INCREMENT FINANCING FUND TIF IV December 31, 2021 ASSETS Cash and cash equivalents $ 3,337,338 Property taxes receivable 571,800 Accrued interest receivable 128 TOTAL ASSETS $ 3,909,266 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE LIABILITIES Accounts payable $ 1,547 Total liabilities 1,547 DEFERRED INFLOWS OF RESOURCES Unavailable revenue 571,800 Total liabilities and deferred inflows of resources 573,347 FUND BALANCE Restricted for community development 3,335,919 Total fund balance 3,335,919 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE $ 3,909,266 (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, 2021 REVENUES Property taxes $ 453,464 Investment income 2,528 Miscellaneous 721 Total revenues 456,713 EXPENDITURES Contractual services 51,479 Other expenditures 50,400 Capital outlay 544,810 Total expenditures 646,689 NET CHANGE IN FUND BALANCE (189,976) FUND BALANCE, JANUARY 1 3,525,895 FUND BALANCE, DECEMBER 31 $ 3,335,919 (See independent auditor's report.) -4- 1415 West Diehl Road, Suite 400 ATTACHMENT L 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, 2021. 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, 2021, 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 13, 2022 -1-  Attachment M: Intergovernmental Agreements (TIF 4) 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.  Joint Review Board 7/20/2022 Item: South Arlington Heights Road State Comptroller Annual TI F Report Department: Planning & Community Development ATTACHMENTS: Description Type South Arlington Heights Road State TIF Exhibits Report FY 2021 ANNUAL TAX INCREMENT FINANCE REPORT Name of Municipality: Arlington Heights Reporting Fiscal Year: 2021 County: Cook Fiscal Year End: 12/31 /2021 Unit Code: 016/015/032 FY 2021 TIF Administrator Contact Information First Name: Bill Last Name: Enright Address: 33 S Arlington Heights Road Title: Asst Director Planning & Community Devl Telephone: 847-368-5200 City: Arlington Heights Zip: 60004 E-mail- required benright@vah.com I attest to the best of my knowledge, that this FY 2021 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.]. ______________________________________________________ 06/30/2022 _____________________________ 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 South Arlington Heights Road TIF 6/15/2020 *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 2021 Name of Redevelopment Project Area (below): South Arlington Heights Road Primary Use of Redevelopment Project Area*: Mixed * Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. Commercial, If "Combination/Mixed" List Component Types: residential 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 2021 South Arlington Heights Road Special Tax Allocation Fund Balance at Beginning of Reporting Period $ - Cumulative Revenue/Cash Totals of Receipts for SOURCE of Revenue/Cash Receipts: Revenue/Cash Current Receipts for life Reporting Year of TIF % of Total Property Tax Increment $ 591,378 $ 591,378 100% State Sales Tax Increment $ - $ - 0% Local Sales Tax Increment $ - $ - 0% State Utility Tax Increment $ - $ - 0% Local Utility Tax Increment $ - $ - 0% Interest $ 127 $ 127 0% 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) $ - $ - 0% All Amount Deposited in Special Tax Allocation Fund $ 591,505 Cumulative Total Revenues/Cash Receipts $ 591,505 100% Total Expenditures/Cash Disbursements (Carried forward from $ 54,536 Section 3.2) Transfers to Municipal Sources $ - Distribution of Surplus Total Expenditures/Disbursements $ 54,536 Net/Income/Cash Receipts Over/(Under) Cash Disbursements $ 536,969 Previous Year Adjustment (Explain Below) $ - . FUND BALANCE, END OF REPORTING PERIOD* $ 536,969 * 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 2021 TIF NAME: South Arlington Heights Road 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. RJN Group Inc 54,536 $ 54,536 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 $ 54,536  Section 3.2 B FY 2021 TIF NAME: South Arlington Heights Road 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 RJN Group Inc Consulting $ 54,536.00  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 2021 TIF NAME: South Arlington Heights Road *TIF Name will populate on every page FUND BALANCE BY SOURCE $ 536,969 - Amount of Original Issuance Amount Designated 1. Description of Debt Obligations Total Amount Designated for Obligations $ - $ - 2. Description of Project Costs to be Paid 245,800 Total Amount Designated for Project Costs $ 245,800 - 3. Distribution of Surplus [65 ILCS 5/11-74.4-7] Total Amount OF Surplus Distribution $ - TOTAL AMOUNT DESIGNATED $ 245,800 - SURPLUS/(DEFICIT) $ 291,169 -  SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] FY 2021 TIF NAME: South Arlington Heights Road 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 x the 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: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (8): 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 2021 TIF Name: South Arlington Heights Road 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 2021 TIF NAME: South Arlington Heights Road 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 2020 $ 24,691,570 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: East side of South Arlington Heights Road Seegers Road to I90 Optional Documents Enclosed Legal description of redevelopment project area Map of District ATTACHMENT C  ATTACHMENT F AND K VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS BALANCE SHEET TAX INCREMENT FINANCING FUND SOUTH ARLINGTON HEIGHTS ROAD TIF December 31, 2021 ASSETS Cash and cash equivalents $ 541,589 Property taxes receivable 100,000 Accrued interest receivable 21 TOTAL ASSETS $ 641,610 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE LIABILITIES Accounts payable $ 4,641 Total liabilities 4,641 DEFERRED INFLOWS OF RESOURCES Unavailable revenue 100,000 Total liabilities and deferred inflows of resources 104,641 FUND BALANCE Restricted for community development 536,969 Total fund balance 536,969 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE $ 641,610 (See independent accountant's report.) -3-  VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE TAX INCREMENT FINANCING FUND SOUTH ARLINGTON HEIGHTS ROAD TIF For the Year Ended December 31, 2021 REVENUES Property taxes $ 591,378 Investment income 127 Total revenues 591,505 EXPENDITURES Capital outlay 54,536 Total expenditures 54,536 NET CHANGE IN FUND BALANCE 536,969 FUND BALANCE, JANUARY 1 - FUND BALANCE, DECEMBER 31 $ 536,969 (See independent auditor's report.) -4-  ATTACHMENT L 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, 2021. 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, 2021, 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 13, 2022 -1-