HomeMy WebLinkAboutTax Increment Finance (TIF)-Agenda Packets-01/24/2019City of Colleyville Page 1
City of Colleyville
Tax Increment Financing
District Board
Agenda
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Thursday, January 24, 2019
12:00 Noon
Executive Conference Room
Third Floor, City Hall
1.CALL TO ORDER
2.PRESENTATION AND DISCUSSION
2a Review and discuss the status of the Colleyville Tax Increment Financing
District
3.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards January 18, 2019 by
5:00 p.m.
Christine Loven, TRMC
City Secretary
A quorum of the Colleyville City Council and/or any other Colleyville Board, Commission, or
Committee may be in attendance at this meeting.
Any matter on this agenda may, at the discretion of the governing body, be opened for
public comment and discussion.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise the Executive Secretary at least 48 hours in advance at
817.503.1110, and reasonable accommodations will be made to assist you.
City of Colleyville Page 1
City of Colleyville
Tax Increment Financing
District Board
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 2a Agenda Date 01/24/2019 Number
Type Presentation and Discussion
Department City Manager
Title
Review and discuss the status of the Colleyville Tax Increment Financing District
Explanation
Adrienne Lothery, Assistant City Manager, will provide an update on the 5-Year
working plan for the Tax Increment Financing (TIF) District.
Attachments
1.Colleyville TIF Fiscal Year 2019 Update Presentation
2.TIF Annual Report - FY 2018
3.TIF Reconciliationn FY 2013-2018
4.5-Year TIF Working Plan
Update on TIF Financial Position
City of Colleyville TIF Board
January 24, 2019
Project Plans
Original Project Plan
Downtown Improvements
Plaza
Professional Services
Public Parking, land, engineering
Storm Drainage
Library
Hall-Johnson Road
Bluebonnet Drive
SH 26
Tinker/Sanders Intersection
Bogart
Church Street
Riverwalk Drive
Public Parking Structure
Main Street
City Hall
Fire Station
John McCain Road
School Improvements
Total (orig. estimate) = $35,328,690
Amended Project Plan
Economic Development TIF Grants
Roadway Improvements
Trails & Public Amenities
Administrative Expenses
Total (orig. estimate) = $44,456,185
Notes:
•All $ projections for project costs are
estimates and are not a limitation
•Revenue from ISD participation may not be
used on any project category added by the
2012 amendment
•Only revenue from City participation can
be used on TIF Grants category
Expenditures To-Date
Original Project Plan
Revenues (FY2000-2012)$38,532,056
Expenditures (FY2000-2012)$30,119,594
Total Remaining Funds at
FY2012 Year-End $8,412,462
Amended Project Plan
Revenues (FY2000-2012)$6,644,593
Expenditures (FY2000-2012)*$0
Total Remaining Funds at
FY2012 Year-End $6,644,593
*TIF Revenue from the City’s contribution was “moved” to the amended project plan when it was created in 2012,
to be the only funding source available for the TIF Grants project category
Original Project Plan
Balance at FY2012 Year-End $8,412,462
Revenues (FY2013-2018)$19,023,617
Expenditures (FY2013-2018)$13,883,577
Total Remaining Funds at
FY2018 Year-End $13,552,502
Amended Project Plan
Balance at FY2012 Year-End $6,644,593
Revenues (FY2013-2018)$8,719,985
Expenditures (FY2013-2018)$8,005,345
Total Remaining Funds at
FY2018 Year-End $7,359,233
Note: Please refer to the reconciliation handouts for additional revenue and expenditure detail
5-Year Working Plan
•Created a 5-year working plan, shared for the first time at the
January 2018 TIF Board meeting
•An updated 5-Year plan is presented today, showing more
current numbers following the close of the 2018 fiscal year
Questions & Discussion
TAXABLE VALUE:
GCISD County & Hospital County College City of Colleyville
Colleyville TIF #1
TAX YEAR 2017 / FY 2018 TAXABLE VALUE $438,856,265 $443,493,718 $443,500,718 442,248,745
1998 BASE VALUE $75,593,230 $75,772,230 $75,779,230 75,821,735
INCREMENTAL VALUE INCREASE $363,263,035 $367,721,488 $367,721,488 366,427,010
Colleyville TIF #1A
TAX YEAR 2017 / FY 2018 TAXABLE VALUE $39,933,884 $39,933,884 39,918,884
2012 BASE VALUE $30,811,178 $30,811,178 30,796,078
INCREMENTAL VALUE INCREASE $9,122,706 $9,122,706 9,122,806
NOTE: Taxable value can vary slightly for each taxing entity based on differing exemptions
REVENUES:
Tax Increment Revenues TIF #1 -
CITY OF COLLEYVILLE (0.00333834 x TIF#1 incremental value)1,223,258
TARRANT COUNTY COLLEGE DISTRICT (0.0014006 x TIF#1 incremental value)515,031
GRAPEVINE COLLEYVILLE ISD -TOTAL PAYMENT* (0.01 x TIF#1 incremental value)3,632,630
GRAPEVINE COLLEYVILLE ISD **(0.26 x TIF#1 incremental value/100)(944,484)
GRAPEVINE COLLEYVILLE ISD ***(0.74 x payment difference from 2016 M&O tax rate vs. 2005 M 1,158,591
TARRANT COUNTY #CAPPED -
TARRANT COUNTY HOSPITAL DISTRICT #CAPPED -
TOTAL 5,585,026
Tax Increment Revenues TIF #1A -
CITY OF COLLEYVILLE (0.00333834 x TIF#1A incremental value)30,455
TARRANT COUNTY COLLEGE DISTRICT (0.0014006 x TIF#1A incremental value)12,777
TOTAL 43,232
Interest Income 242,419
*THIS IS CALCULATED BASED ON THE COMPRESSED M&O TAX RATE, AS STIPULATED BY STATE LAW (H.B. 3646 [81])
** 26% OF THE PAYMENT IS RETURNED TO GCISD PER CONTRACT
*** SUPPLEMENTAL PAYMENT FOR DIFFERENCE IN CURRENT M&O TAX RATE OF $1.04 AND $1.471 2005 M&O TAX RATE
# CONTRACTUAL OBLIGATION FOR PAYMENT OF INCREMENTAL REVENUES HAS BEEN MET
EXPENDITURES & DEBT PAYMENT:
Original Project Plan-
DEBT PAYMENTS & COSTS 652,675
PLAZA- CONCEPTUAL DESIGN 43,797
SH 26 186,612
SH 26 - TXDOT REIMBURSEMENT (238,989)
JOHN MCCAIN 11,340
FIBER OPTIC CABLE INSTALLATION (INITIAL PAYMENT)250,000
LIBRARY - PATIO IMPROVEMENTS 16,934
PROFESSIONAL SERVICES - ADMINISTRATIVE 95,647
MAIN STREET - ROUNDABOUT & IMPROVEMENTS 46,726
HALL JOHNSON - MEDIAN IMPROVEMENTS 49,377
CHURCH STREET - MEDIAN IMPROVEMENTS 60,645
CITY HALL - LANDSCAPE & IRRIGATION 36,052
CITY HALL - GOUNDS / IMPROVEMENTS 33,528
DOWNTOWN IMPROVEMENTS - STREET FURNITURE 29,486
DOWNTOWN IMPROVEMENTS - TAXES 23,012
DOWNTOWN IMPROVEMENTS - VOA DUES 27,461
RIVER WALK DRIVE - COLLEYVILLE CENTER OUTDOOR LIGHTING 8,218
RIVER WALK DRIVE - MEDIAN IMPROVEMENTS 34,303
PROFESSIONAL SERVICES - TRANSFER TO GENERAL FUND 210,377
DOWNTOWN IMPROVEMENTS - TRANSFER (REPYAMENT)TO VOLUNTARY PARK FUND 47,573
TIF ANNUAL REPORT - CITY OF COLLEYVILLE
FISCAL YEAR ENDED SEPTEMBER 30, 2018 (FY 2018)
Amended Project Plan-
ROADWAY IMPROVEMENTS - GLADE ROAD DESIGN 70,754
GLADE ROAD ROW ACQUISITION 432,357
ROADWAY IMPROVEMENTS - GLADE ROAD PHASE 1A 674,044
ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 351,528
ECONOMIC DEVELOPMENT GRANT 123,050
TRAILS & PUBLIC AMENITIES - TREES FOR CHEEKSPARGER 4,810
TRAILS & PUBLIC AMENITIES - GLADE/POOLROUNDABOUT 6,480
TRAILS AND PUBLIC AMENITIES- JACKSON/CHEEK SPARGER ROUNDABOUT 39,244
ROADWAY IMPROVEMENTS- GLADE ROAD MEDIANS 69,600
TOTAL EXPENDITURES & DEBT PAYMENTS 3,396,642
CASH BALANCE:
TOTAL TIF CASH AND INVESTMENTS AS OF 9/30/2018 21,071,763
OUTSTANDING DEBT SERVICE SCHEDULE
SERIES 2016 TAX INCREMENT REVENUE AND REFUNDING BONDS
FISCAL YEAR PRINCIPAL INTEREST TOTAL INTEREST RATE
2019 $625,000 $28,725 $653,725 3%
2020 $645,000 $9,675 $654,675 3%
TOTAL AS OF 10/01/2017 $1,270,000 $38,400 $1,308,400
TOTAL
AMENDED
PLAN
REMAINING FUNDS AVAILABLE AT BEG. OF FY 2013 8,412,462 6,644,593 6,644,593
TIF REVENUES GCISD GCISD
INTEREST
TOTAL
REVENUE
ATTRIBUTED
TO GCISD
TARRANT
COUNTY
COLLEGE
DISTRICT
TIF 1
TARRANT
COUNTY
COLLEGE
DISTRICT
TIF 1A
TARRANT
COUNTY
COLLEGE
DISTRICT
INTEREST
TOTAL TCCD
REVENUE
CITY OF
COLLEYVILLE
TIF 1
CITY OF
COLLEYVILLE
TIF 1A
CITY OF
COLLEYVILLE
INTEREST
TOTAL CITY
REVENUE
2013 2,603,006 11,505 2,614,511 375,547 - 1,563 377,110 894,051 - 3,694 897,745
2014 3,471,104 7,682 3,478,786 380,609 770 1,029 382,408 902,356 1,833 2,430 906,619
2015 2,724,898 8,664 2,733,562 387,780 3,468 1,244 392,492 919,358 8,285 2,932 930,575
2016 2,774,652 52,512 2,827,164 397,577 5,900 7,540 411,017 942,549 14,075 17,727 974,351
2017 3,243,782 113,389.20 3,357,171 449,064 11,637 16,104 476,805 1,048,073 26,957 37,579 1,112,609
2018 3,846,737 165,686 4,012,422 515,031 12,777 22,734 550,542 1,223,258 30,455 54,000 1,307,713
TOTAL TIF REVENUES 18,664,179 359,439 19,023,617 2,505,608 34,552 50,214 2,590,374 5,929,645 81,605 118,361 6,129,611 8,719,985
TIF EXPENDITURES ORIGINAL
PLAN
ADMIN.
EXPENSES
TRAILS &
PUBLIC
AMENITIES
ROADWAY
IMPROVEM.TIF GRANTS
2013 - SH 26 UTILITY RELOCATION 855,904
2013 - DEBT PAYMENTS & COSTS 680,150
2013 - CITY HALL AC 7,580
2013 - GRANT 764,077
2013 - GLADE ROAD 485,936
2014 - SH 26 UTILITY RELOCATION 1,682,237
2014 - DEBT PAYMENTS & COSTS 682,813
2014 - CITY HALL REPAIRS & IMPROVEMENTS 59,660
2014 - GRANT 625,000
2014 - GLADE ROAD 479,603
2015 - VILLAGE AT COLLEYVILLE ASSET REPURCHASE AGREEMENT 643,833
2015 - STOP SIGNS - VILLAGE AT COLLEYVILLE 24,848
2015 - SH 26 UTILITY RELOCATION 2,081,027
2015 - SH 26 RECONSTRUCTION 490,469
2015 - SH 26 PRELIMINARY ANALYSIS 1,664
2015 - PLAZA (89 VERANDA LN , 86 & 94 MAIN ST, DESIGN, HOA DUES…)5,500
2015 - DEBT PAYMENTS & COSTS 678,306
2015 - CITY HALL LANDSCAPE & IRRIGATION 7,265
2015 - CHURCH STREET MEDIAN LANDSCAPE 37,822
2015 - GRANT 705,000
2015 - GLADE ROAD 637,187
2016 - SH 26 UTILITY RELOCATION 96,599
2016 - SH 26 RECONSTRUCTION 1,514,132
2016 - PLAZA (89 VERANDA LN , 86 & 94 MAIN ST, DESIGN, HOA DUES…)(1,000)
2016 - DEBT PAYMENTS & COSTS 682,425
2016 - CITY HALL/LIBRARY GENERATOR DESIGN 13,230
2016 - GLADE ROAD 602,802
2017 - SH 26 RECONSTRUCTION 4,420
2017 - PROFESSIONAL SERVICES - ADMINISTRATIVE 21,850
2017 - PLAZA (89 VERANDA LN , 86 & 94 MAIN ST, DESIGN, HOA DUES…)389,131
2017 - PLAZA - COTTAGE LANE & TERRA COTTA WAY - LAND PURCHASE 812,094
2017 - MAIN STREET - VILLAGE BEAUTIFICATION & IMPROVEMENTS 18,239
2017 - JOHN MCCAIN ROAD REHAB 103,733
2017 - DEBT PAYMENTS & COSTS 662,069
2017 - GLADE ROAD 1,933,872
2018 - DEBT PAYMENTS & COSTS 652,675
2018 - PLAZA CONCEPTUAL DESIGN 43,797
2018 - SH 26 186,612
2018 - SH 26 - TXDOT REIMBURSEMENT (238,989)
2018 - JOHN MCCAIN 11,340
2018- FIBER OPTIC CABLE INSTALLATION(INITIAL PAYMENT)250,000
2018 - LIBRARY - PATIO IMPROVEMENTS 16,934
2018 - PROFESSIONAL SERVICES - ADMINISTRATIVE 95,647
2018 - MAIN STREET -ROUNDABOUT & IMPROVEMENTS 46,726
2018 - HALL JOHNSON - MEDIAN IMPROVEMENTS 49,377
2018 - CHURCH STREET - MEDIAN IMPROVEMENTS 60,645
2018 - CITY HALL - LANDSCAPE & IRRIGATION 36,052
2018 - CITY HALL - GROUNDS/IMPROVEMENTS 33,528
2018 - DOWNTOWN IMPROVEMENTS - STREET FURNITURE 29,486
2018 - DOWNTOWN IMPROVEMENTS - TAXES 23,012
2018 - DOWNTOWN IMPROVEMENTS - VOA DUES 27,461
2018 - RIVER WALK DRIVE - COLLEYVILLE CENTER OUTDOOR LIGHTING 8,218
2018 - RIVER WALK DRIVE - MEDIAN IMPROVEMENTS 34,303
2018 - PROFESSIONAL SERVICES - TRANSFER TO GENERAL FUND 210,377
2018 - DOWNTOWN IMPROVEMENTS - TRANSFER (REPAYMENT) TO VOLUNTARY PARK FUND 47,573
2018 - TRAILS & PUBLIC AMENITIES - TREES FOR CHEEKSPARGER 4,810
2018 - TRAIL & PUBLIC AMENTITES - GLADE/POOLROUNDABOUT 6,480
2018 - TRAILS AND PUBLIC AMENITIES JACKSON-CHEEK SPARGER ROUNDABOUTS 39,244
2018 - ROADWAY IMPROVEMENTS - GLADEROAD MEDIANS 69,600
2018 - GLADE ROAD 1,528,684
2018 - CEDC GRANTS 123,050
TOTAL TIF EXPENDITURES 13,883,577 - 50,534 5,737,684 2,217,127 8,005,345
REMAINING FUNDS 13,552,502 7,359,233
ORIGINAL PROJECT PLAN AMENDED PROJECT PLAN
TIF RECONCILIATION
2013 - 2018
Original
Project Plan
Grants
Category
Roadway
Improvements
Trails & Public
Amenities
Admin.
Expenses
TOTAL
Amended
Project Plan
Estimated 10/1/18 Available Balances 13,552,502$ 7,359,233$
2019
Central Fire Station Capital Improvements & Repairs 147,322$ -$ -$ -$ -$
Senior Center Improvements 50,000
Cheek-Sparger Road (San Bar to Brown Trail) - Design 319,754
Cheek-Sparger Road (San Bar to Brown Trail) - ROW 125,000
Cheek-Sparger Road (San Bar to Brown Trail) - Construction 765,000
Glade Road Design (Phase 2-SH26 to Pool)170,000
Glade Road ROW (Phase 2-SH26 to Pool)70,000
Glade Road median improvements (near Roberts Road)50,000
Roberts Road - Design 181,268
Roberts Road - ROW Acquisition 150,000
City Hall Automatic Doors - Design 11,500
City Hall Automatic Doors - Construction 60,000
City Hall Parking Lot Improvements 50,000
City Hall - Backup Generator 181,000
City Hall/Library - HVAC Replacement 327,600
TIF Debt Payment 653,725
Fiber Project 139,465
Main Street (at SH26) Median Improvements 50,000
Wayfinding Signs to Downtown & Street Furniture 350,000
SH26 Water/Wastewater Conflicts - Design 75,000
SH26 Water/Wastewater Conflicts - Construction 250,000
SH26 Signal and Roadway Improvements 115,000
SH26 Roadway Lighting 1,500,000
SH26 Medians, ROW, Northern & Southern Gateway Features 7,250,000
Downtown Improvements- Entrance to The Village at Colleyville 500,000
SH26 ROW maintenance during reconstruction 25,000
Economic Development Grants 750,000
Entrepreneur Center 100,000
Recreation Center Design 500,000
Land acquisition 2,000,000
Plaza at City Hall 1,750,000
Downtown Improvements- Creation of riverwalk area 500,000
John McCain Road - Roundabout improvements (landscape)50,000
Glade Road & Pool Roundabout improvements (landscape)50,000
16,485,612$ 850,000$ 1,831,022$ 100,000$ -$ 2,781,022$
(+) FY19 Revenue 4,039,074 1,800,000
Estimated 10/1/19 Available Balances 1,105,964$ 6,378,211$
2020
Economic Development Grants 500,000$
Entrepreneur Center 100,000
Roberts Road - Construction 2,100,000
Glade Road (Phase 2 - SH26 to Pool) - Construction 4,500,000
Glade Road Bluebonnet Intersection 1,500,000
Recreation Center Construction 3,000,000
SH26 Roadway Improvements Change Orders 1,000,000
Trail - Little Bear Creek connection of CNC to Sparger Park 750,000$
Land acquisition
Fiber Project 139,465
TIF Debt Payment 654,675
4,794,140$ 600,000$ 8,100,000$ 750,000$ -$ 9,450,000$
(+) FY20 Revenue 4,241,028 1,890,000
Estimated 10/1/20 Available Balances 552,851$ (1,181,789)$
2021
City Hall - Flooring Rehab 87,808$
Glade Road (Phase 2 - SH26 to Pool) - Construction 6,000,000
Land acquisition -
Recreation Center Construction 2,000,000
Parking lot/deck 3,000,000
Entrepreneur Center 100,000
Economic Development Grants 500,000
5,087,808$ 600,000$ 6,000,000$ -$ -$ 6,600,000$
(+) FY21 Revenue 4,453,079 1,984,500
Estimated 10/1/21 Available Balances (81,878)$ (5,797,289)$
2022
Library - Flooring Rehab 95,210$
Land acquisition 1,500,000
Storm Drainage Improvements 1,000,000
Entrepreneur Center 100,000
Economic Development Grants 500,000
2,595,210$ 600,000$ -$ -$ -$ 600,000$
(+) FY22Revenue 4,675,733 2,083,725
Estimated 10/1/22 Available Balances 1,998,645$ (4,313,564)$