Loading in 2 Seconds...
Loading in 2 Seconds...
Proposed West Humboldt Park SSA Public Meeting Nia Center. May 1, 2013. Outline. Karen J. Forté , City of Chicago SSA Overview Chet Jackson, WHPDC Planned 2014 services and budget Jewell Walton & Geoff Dickinson, SB Friedman Financial Analyses. SSA #49 South Shore &.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Special Service Areas (SSAs)
Andrew J. MooneyCommissioner
Special real estate taxing district, not an agency
The City as the taxing body contracts with entities to administer SSA programs
Funds additional services beyond the City’s general services in a defined district
Tax % rate applied to EAV generates levy is DIFFERENT than the tax % increase on a tax bill from the SSA tax
Enabled through state statute and city ordinance
Called BIDs (Business Improvement Districts) in other cities; BIDs used worldwide
City Council (legislative)
SSA Commission (advisory)
Dept. of Law
Other City Depts.
SSA Bank Acct
Service Provider Agreement
Service Provider Agency (Management/Admin)
Work plans assembled annually from this list.
SSA #10 Back of the Yards
SSA #2 Belmont-Central
SSA #5 Commercial Ave.
Budget = Levy + Carry Over
Example: $300,000 = $270,000 = $30,000
Levy = Tax Rate x EAV
Example: $270,000 = 0.45% x $60 million (tax cap is 0.50%)
From the Chicago Tribune
Research & Consensus Building
SSA Application Submittal
Ordinances & Commission Appts.
County Filing & Recording
Tax Levy Collected/ Distributed
By Dec 2013
MISSION: The West Humboldt Park Development Council, Alderman Walter Burnett, Jr, and vested business and property owners, have combined their resources, in order to foster commercial revitalization, economic development and create a bold vision for the Chicago Avenue corridor and West Humboldt Park. The goal of West Humboldt Park Special Service Area (SSA) is to position the Chicago Avenue commercial corridor as a desirable, safe, pedestrian-friendly destination, which will attract residents and visitors more frequently, attract new businesses and commercial development, strengthen existing businesses, and improve the overall quality of life.
VISION: The West Humboldt Park Special Service Area is being created to promote and encourage investment and revitalization along the Chicago Avenue commercial corridor. It is funded through a special property tax levy to provide supplemental programs and services to the area that are above and beyond the services provided by the City of Chicago. The general boundary of the SSA includes both sides of Chicago Avenue between Albany on the east to Karlov on the west.
Planned SSA services include maintenance programs, marketing campaigns, security, and other improvements that would benefit the commercial district. These services support efforts to promote investment and revitalization along the Chicago Avenue commercial corridor and to improve the overall quality of life in West Humboldt Park.
SSA funding is controlled and directed locally by an SSA Commission comprised of local business and/or property owners. All funding stays within the SSA for local direct benefit.
Chicago & Sawyer
Chicago & St Louis
Chicago & Homan
$115,000 with 3% annual increase
262 total parcels
Total Taxes due will increase by approx. 20% next year.
In this example, Total Taxes Due would be $5,742
An additional line will be added for the SSA with a rate of 1.159% and a maximum rate of 1.500%.
In this example, taxes for the SSA would be $1,007.
Total tax rate would increase to 6.614%.
Each installment would be approx. 20% higher.
Cleaning/public way maintenance
Leverage source for grants etc.
Refine future budgets based on stakeholder feedback
Plan to hold line of vendors as possible
Some start up costs go away
Potential future SSA services
Façade rebate program (coupledwith SBIF)Summary