DeKalb Times

DeKalb County Finance & Administration Committee met Feb. 5.

Here is the agenda provided by the committee:

1. Roll Call

2. Approval of Agenda

3. Approval of Minutes

a. Minutes from November 6, 2024 Meeting

4. Public Comments

Any member of the public may address the Committee for up to 3 minutes on any topic of their choosing. There will be no yielding of time to other members of the public and agenda time for public comments is limited to 30 minutes in total.

5. Presentations/Discussions

a. Finance & Administration Committee Orientation

b. DCRNC Financial Update

6. Resolutions

Tax Abatement Resolutions

The County has three outstanding bond obligations; the 2017 Alternate Revenue Bonds, the 2020 Refunding Bond and 2020 Nursing Home Expansion Bonds. These bonds were issued by the County Board at various times as an external funding source for various projects within the County. At the time these bonds were issued, the County anticipated that these bonds would be retired by non-property tax revenues through the FY2025 Property Tax & Debt Stabilization Plan.

It is mandated that in the event that non-property tax revenues are not sufficient to retire the debt, property taxes would be used to pay the debt service. When the County authorizes a bond issue, the DeKalb County Clerk is directed to automatically levy a property tax for the each of the bond issues in each of their applicable tax years to fund this debt retirement. DeKalb County Government may abate these property tax levies each year if sufficient monies are available in designated funds prior to the time the County Clerk extends taxes for the ensuing year.

The DeKalb County Board took action to levy property taxes in a manner that would capture revenue from new construction and reclassified land while aiming to slightly reduce taxes paid by existing tax payers on average for Tax Year 2024, payable in 2025. Sufficient monies from the non-property tax revenue sources are available in the FY2025 Budget to allow the County Board to abate the property tax levies for the three outstanding bond obligations.

a. Resolution R2025-013—A Resolution Abating the Entire Property Tax Levy for the 2024 Tax Year for the 2017 Jail Expansion Bond Issue.

In June of 2021, the County Board authorized the issuance of $33,905,000 in bonds to finance the renovation and expansion of the County Jail. The repayment schedule for the 2017 Jail Expansion Bond Issue includes fiscal years 2017 through 2048. At the time that the bonds were issued, the County anticipated that these bonds would be retired mainly by host community agreement fees generated from waste deposited into the DeKalb County Landfill, and sales tax revenues generated from sales at stores on the site of the former County Farm which is the southeast corner of Sycamore Road and Barber Greene Road in DeKalb. This Resolution abates the property tax levy for the 2017 Jail Expansion Bond Issue in the amount of $1,656,106.26.

b. Resolution R2025-014—A Resolution Abating the Entire Property Tax Levy for the 2024 Tax Year for the 2020 Nursing Home Expansion Bond Issue.

In August of 2020, the County Board authorized the issuance of $13,000,000 in bonds to finance the expansion of and improvements to the DeKalb County Rehab & Nursing Center. The repayment schedule for the 2020 Nursing Home Expansion Bond Issue includes fiscal years 2020 through 2049. At the time the bonds were issues, it was anticipated that these bonds would be retired by the net revenue derived from the operation of the DeKalb County Rehab & Nursing Center. The Jordan Healthcare Group Business Plan that was approved by the County Board as part of the FY2025 Budget includes funds allocated to cover the FY2025 Debt Service payment for the 2020 Nursing Home Expansion Bond Issue. This Resolution abates the entire property tax levy for the 2020 Nursing Home Expansion Bond Issue in the amount of $900,000.

c. Resolution R2025-015—A Resolution Abating the Entire Property Tax Levy for the 2024 Tax Year for the 2020A Refunding Bond Issue.

In October of 2010, the County Board authorized the issuance of $16,000,000 in bonds to finance the expansion of the Courthouse and a study for the expansion of the County Jail. The County Board subsequently sold $8,685,000 in bonds in October of 2020 to refund a portion of the County’s outstanding General Obligation Bonds. At the time the Bonds were issued, it was anticipated that these bonds would be retired mainly by sales tax revenues generated from sales at stores on the site of the former County Farm which isthe southeast corner of SycamoreRoad and Barber GreeneRoad in DeKalb. This Resolution abates the property tax levy for the 2020A Refunding Bond Issue in the amount of $1,192,800.

d. Resolution R2025-016—A Resolution Abating the Entire Property Tax Levy for the 2024 Tax Year for Recapture Revenues.

DeKalb County Government has an option under 35ILCS 200/18-233 to collect certain property tax dollars related to prior year adjustments for certificates in error, Property Tax Appeal Board final administrative decision and qualified court orders. These funds are automatically recognized and reflected on each taxing district’s Levy Confirmation. Throughout the preparation of the County’s property tax levy for Tax Year 2024, the County Board expressed their philosophy of County Government working within its means and reducing the burden on existing taxpayers. This resulted in the approval of a tax levy that lowers property taxes for the average existing taxpayer by capturing revenue from new construction. The County Board has the option to abate the “Recaptured Revenues” to maintain the intent of the approved levy. This Resolution abates the property tax levy for Recapture Revenues in the amount of $56,428.

e. Resolution R2025-017—A Resolution Approving the Payment of County Claims for February 2025, and Off-Cycle Claims Paid During the Previous Month, Including All Claims for Travel, Meals, and Lodging.

7. Nomination of Finance & Administration Committee Member to be appointed to Serve on the DCRNC Oversight Board.

On December 13th, 2023, the County Board established an Oversight Board for the DCRNC. The membership structure of the Oversight Board includes a member of the Health & Human Services Committee, a member of the Finance & Administration Committee, a County Board member at large, a member of the DCRNC Resident Council and five members of the public with expertise in the fields of long-term care, finance, or law.

The Finance & Administration Committee is being asked to nominate a member of the Committee to be appointed to serve on the DCRNC Oversight Board. The Committee’s nomination for appointment will be considered by the Executive Committee at their February 19th meeting.

8. Old Business

9. New Business

10. Adjournment

https://dekalbcounty.org/wp-content/uploads/2025/01/packet-fin-02052025.pdf