Pursuant to 65 ILCS 5 / 11-74.4-5. (i). (State of Illinois Compiled Statutes), no later than 10 years after the corporate authorities of a municipality adopt an ordinance to establish a redevelopment project area, the municipality must compile a status report concerning the redevelopment project area. The status report must detail without limitation the following:   

(i) the amount of revenue generated within the redevelopment project area; 

(ii) any expenditures made by the municipality for the redevelopment project area including without limitation expenditures from the special tax allocation fund; 

(iii) the status of planned activities, goals, and objectives set forth in the redevelopment plan including details on new or planned construction within the project area; 

(iv) the amount of public and private investment within the redevelopment project area, and; 

(v) Any other relevant evaluation or performance data.   

Within 30 days after the municipality compiles the status report, the municipality must hold at least one public hearing concerning the report. Legal notice was posted in the January 27, 2015 Daily Herald.   

TIF #5 was established in February 2005, therefore a status report is required in 2015.