CL TIF Districts

A monument at Country Companies across from Kwik Kopy on Route 14 marks the western edge of the TIF District.

A monument at Country Companies across from Kwik Kopy on Route 14 marks the western edge of the Virginia Street TIF District. This is one of four $16,000 pillars.

This year McHenry County Clerk Mary McClellan has made it easy to find what Tax Increment Financing Districts are extracting from our pocketbooks.

Since my tax bill is composed of most of the tax districts into which Crystal Lakers pay, I took a look at the city’s TIFs.

The Virginia Street TIF, which can be identified by the pillars near the Crystal Lake Motel and Pizza Hut on Route 14, brought in $14,900.74.

I wonder if that will be enough to pay off even the interest on money to pay for the ornamental street lights, flower boxes, bike racks and cement cross walks.

The Main Street TIF brought in $519.95.

The Vulcan TIF, which was passed to pay for Three Oaks Recreation Area brought in zero.

Next year, when the new VW car dealership gets on the tax rolls, there will be a positive number.

And to think that the City Council thought the Vulcan Lakes TIF District would pay for turning Vulcan Lakes into a recreation area.

Instead the City Council raised the city portion of the sales tax by 75%.


Comments

CL TIF Districts — 11 Comments

  1. Just look how business is booming since the Virginia Street TIF and the raising of our sales taxes.

  2. And the people just voted right back in the same mayor who helped brainstorm these incredible pillars of the community.

    The NW Herald should be ashamed of itself for its lack of ANY investigative reporting to help the community see how it is being taken advantage of.

    The ‘folks’ should be ashamed for not asking questions of ANY person running for the mayoral position.

    None were asked and the same knucklehead is right back in power.

    Perhaps some on the city counsel can take their balls out of their sacs and challenge these outrageous expenditures?

    Let’s hope Paul Swartek (spell check please) can prove that ‘concerned citizen’s’ can make a difference.

    Get involved people and stop the silent treatment…

    Shepley, you’re and idiot! Crystal Lake is becoming an eyesore.

  3. McHenry County Clerk
    Tax Increment Finance (TIF) District Extension
    Tax Year: 2014
    Report Date: April 23, 2015 at 9:51:13 AM

    TFAQ – ALGONQUIN TIF – Tax Code 19T05 – Increment $162,590 – Extension $18,564
    TFAQ – ALGONQUIN TIF – Tax Code 19T163 – Increment $0 – Extension $0
    TFCA – CARY TIF – Tax Code 20T07 – Increment $500,816 – Extension $62,505
    TFCA2 – CARY TIF 2 STATION – Tax Code 19T09 – Increment $61,614 – $7,689
    TFCL2 – CRYSTAL LAKE VA ST TIF – Tax Code 19T02 – Increment $122,597 – Extension $14,900
    TFCL3 – CRYSTAL LAKE MAIN ST TIF – Tax Code 14T95 – Increment $0 – Extension $0
    TFCL3 – CRYSTAL LAKE MAIN ST TIF – Tax Code 19T03 – Increment $4,278 – Extension $519
    TFCL4 – CRYSTAL LAKE VULCAN TIF – Tax Code 19T04 – Increment $0 – Extension $0
    TFFRG – FOX RIVER GROVE TIF – Tax Code 20T08 – Increment $1,974,049 – Extension $274,625
    TFFRG – FOX RIVER GROVE TIF – Tax Code 20T50 – Increment $1,451,149 – Extension $202,588
    TFFRG2 – FOX RIVER GROVE TIF2 – Tax Code 20T10 – Increment $48,866 – Extension – $6,798
    TFH2 – HARVARD TIF 2004 – Tax Code 01T06 – Increment $1,778,316 – Extension $229,363
    TFH3 – HARVARD TIF 2005 – Tax Code 06T02 – Increment $1,074,049 – Extension $139,607
    TFHA – HARVARD TIF – Tax Code 01T01 – Increment $571,647 – Extension $73,729
    TFHU – HUNTLEY TIF DISTRICT – Tax Code 18T02 – Increment $214,822 – Extension $21,660
    TFMA2 – MARENGO DOWNTOWN TIF – Tax Code 11T02 – Increment $34,428 – Extension $4,179
    TFMA3 – MARENGO EASTERN CORRI – Tax Code 11T03 – Increment $0 – Extension $0
    TFMA3 – MARENGO EASTERN CORRI – Tax Code 11T04 – Increment $0 – Extension $0
    TFMA3 – MARENGO EASTERN CORRI – Tax Code 12T06 – Increment $271 – Extension $32
    TFMA3 – MARENGO EASTERN CORRI – Tax Code 17T12 – Increment $80 – Extension $9
    TFMH – MCHENRY TIF – Tax Code 09T02 – Increment $2,413,147 – Extension $314,907
    TFWO – WOODSTOCK TIF – Tax Code 13T01 – Increment $4,524,106 – Extension $619,557
    Total – Increment $14,936,824 – Extension $1,991,231

    http://www.co.mchenry.il.us/home/showdocument?id=43095

    http://www.co.mchenry.il.us > County Government > Departments A – I > County Clerk > Taxes > 2014 > TIF District Extension

  4. Another Mayerhofer blunder.

    I see the HR Director is now leaving city employment.

    The city manager has not been able to keep his department heads in the ten years he has been there.

    Every one of them has left the City.

    He needs to go

  5. City of Crystal Lake
    Gary J Mayerhofer

    2014 – $208,842 – Village of Crystal Lake
    2013 – $202,382 – Village of Crystal Lake
    2012 – $196,975 – Village of Crystal Lake
    2011 – $183,294 – Village of Crystal Lake
    2010 – $177,264 – Village of Crystal Lake
    2009 – $177,320 – Village of Crystal Lake
    2008 – $164,578 – Village of Crystal Lake
    2007 – $157,799 – Village of Crystal Lake
    2006 – $147,431 – Village of Crystal Lake
    2005 – $135,918 – Village of Crystal Lake
    2004 – $121,591 – Village of Crystal Lake
    2003 – $093,254 – Village of Crystal Lake
    2003 – $027,313 – Village of Libertyville
    2002 – $090,050 – Village of Libertyville
    2001 – $083,753 – Village of Libertyville
    2000 – $077,001 – Village of Libertyville
    Source: Open The Books Widget
    http://www.OpenTheBooks.com > Widget > State Salaries > Recipient Name > Mayerhofer > State: Illinios > Search > Scroll Down to find name

  6. The pension fund for the Village of Crystal Lake is the Illinois Municipal Retirement Fund (IMRF).

    Here are the benefit levels for Tier 1 (aka Tier I) IMRF.

    Tier 2 (aka Tier II) are those employees whom began their career on or after January 1, 2011.

    Full Retirement:
    Age 60 with 8 Years of Service; Age 55 with 35 Years of Service.

    Final Rate of Earnings (FRE) for pension calculation:
    Average of 48 consecutive months within last 120 consecutive months.

    Pension Formula:
    First 15 Years: 1.67% x FRE X Years of Service.
    Years 16+: 2% x FRE X Years of Service.

    Maximum Pension:
    40 Years: 75% x FRE

    COLA:
    3% not compounded; plus supplemental check each year.

    Disability, both Duty and Non-Duty:
    50% of FRE

    Duty Death Survivor Benefit:
    8 years or less: 1 year earnings + member’s account balance.
    8+ years: Same as above; or spouse can have 50% of FRE

    Non-Duty Death Survivor Benefit:
    Less than 1 year: Employee’s contributions.
    1 – 8 Years: 1 Years Earnings + member’s account balance.
    8+ Years: $3,000 + spouses pension; or lump sum of 1 year earnings + member account balance.

    Death When Retired survivor benefit:
    $3,000 + 50% FRE

    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
    Let’s ballpark what the starting pension would be using the figures we have.

    First calculate Final Rate of Earnings (FRE).
    $208,842 + $202,382 + $196,975 + $183,294 = 791,493 / 4 = $197,873.

    Maximum pension would be $197,873 x .75 = $148,404.

    Let’s say he retired in year 2014 (we know he didn’t but that’s the last figure we have available) at age 60 and began working in year 2000 (he probably began earlier but we don’t have those figures so we’ll go with what we know).

    2000 to 2014 is 15 years.

    1.67% x $148,404 x 15 = $37,175.

    His starting pension would be $37,175 if he began working in Year 2000 and retired in Year 2014.

    But he probably began working earlier and we know he’s still working.

    So the pension will be larger than $37,175.

    The annual not compounded Cost of Living Allowance (COLA) increase would be $37,175 x .03 = $1,115.

  7. Oops in addition to COLA we have to add the supplemental retirement check (aka 13th check) each year.

    The employer contributes .62% of their payroll to pay for the 13th payment.

    In 2014, the 13th payment was 36.237%.

    That percentage has been decreasing each year due to the calculation formula and people are retiring earlier, living longer, and receiving large benefits.

    Here’s the calculation for the 13th check.

    $37,175 / 12 = $3,097.

    $3,097 x .36237 = $1,111.

    So in retirement, the pension is hiked annually by not compounded COLA of $1,115, plus once a year a “13th” check is received which for the first year is $1,111.

  8. Thank you Mary for being transparent this is the first time the county clerks office has posted this information

  9. o.k. Mchenry voter above, why are you using my name?

    Get another one

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