HomeMy WebLinkAboutTIF Fund-FY 2019 (Revised)TAXABLE VALUE:
GCISD County & Hospital County College City of Colleyville
Colleyville TIF #1
TAX YEAR 2018 / FY 2019 TAXABLE VALUE $466,824,254 470,308,215 471,679,983 470,308,215
1998 BASE VALUE $75,593,230 75,821,735 75,779,230 75,821,735
INCREMENTAL VALUE INCREASE $391,231,024 $394,486,480 $395,900,753 394,486,480
Colleyville TIF #1A
TAX YEAR 2018 / FY 2019 TAXABLE VALUE 42,820,755 42,820,755 42,820,755
2012 BASE VALUE 30,796,078 30,811,178 30,796,078
INCREMENTAL VALUE INCREASE $12,024,677 $12,009,577 12,024,677
NOTE: Taxable value can vary slightly for each taxing entity based on differing exemptions
REVENUES:
Tax Increment Revenues TIF #1 -
CITY OF COLLEYVILLE (0.003208 x TIF#1 incremental value)1,265,513
TARRANT COUNTY COLLEGE DISTRICT (0.0013607 x TIF#1 incremental value)538,702
GRAPEVINE COLLEYVILLE ISD -TOTAL PAYMENT* (0.01 x TIF#1 incremental value)3,912,310
GRAPEVINE COLLEYVILLE ISD **(0.26 x TIF#1 incremental value/100)(1,017,201)
GRAPEVINE COLLEYVILLE ISD ***1,247,792
TARRANT COUNTY #CAPPED -
TARRANT COUNTY HOSPITAL DISTRICT #CAPPED -
TOTAL TIF 1 5,947,116
Tax Increment Revenues TIF #1A -
CITY OF COLLEYVILLE (0.003208 x TIF#1A incremental value)38,575
TARRANT COUNTY COLLEGE DISTRICT (0.0013607 x TIF#1A incremental value)16,341
TOTAL TIF 1A 54,917
GRAND TOTAL (TIF#1 & TIF #1A)6,002,033
TIF ANNUAL REPORT - CITY OF COLLEYVILLE
FISCAL YEAR ENDED SEPTEMBER 30, 2019 (FY 2019)
(0.74 x payment difference from 2018 M&O tax rate vs. 2005
M&O rate)
Interest Income 519,432
*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 653,725
PLAZA- CONCEPTUAL DESIGN
SH 26 799,861
PROFESSIONAL SERVICES 9,950
PROFESSIONAL SERVICES - ADMINISTRATIVE 688
MAIN STREET - ROUNDABOUT & IMPROVEMENTS 49,475
CHURCH STREET - MEDIAN IMPROVEMENTS 115
CITY HALL - LANDSCAPE & IRRIGATION 35,482
CITY HALL - GOUNDS / IMPROVEMENTS 203,011
DOWNTOWN IMPROVEMENTS - VOA DUES 33,459
PROFESSIONAL SERVICES - TRANSFER TO GENERAL FUND 159,390
STORM DRAINAGE MASTER PLAN 197,387
CV PLAZA RENOVATION 1,768,922
FIRE STATION - CENTRAL FIRE STATION RENOVATION 8,804
Amended Project Plan-
ROADWAY IMPROVEMENTS - GLADE ROAD DESIGN
ROADWAY IMPROVEMENTS-GLADE ROAD ROW ACQUISITION 26,335
ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 148,455
ROADWAY IMPROVEMENTS - RENDERINGS GREEN RIBBON GRANTS 2,750
ECONOMIC DEVELOPMENT GRANT 174,843
TRAILS & PUBLIC AMENITIES - GLADE/POOLROUNDABOUT 6,802
TRAILS AND PUBLIC AMENITIES- JACKSON/CHEEK SPARGER ROUNDABOUT 22,707
TRAILS & PUBLIC AMENITIES - JOHN MCCAIN AND PLESANT RUN ROUNDABOUT 41,738
TRAILS & PUBLIC AMENITIES - ENTRY SIGN AT GLADE & HERITAGE 16,573
TRAILS & PUBLIC AMENITIES - ENTRY SIGN AT MCDONWELL SCHOOL RD 16,391
TRAILS & PUBLIC AMENITIES - SENIOR CENTER UPGRADE 29,775
ROADWAY IMPROVEMENTS- CHEEKSPARGER 301,964
TOTAL EXPENDITURES & DEBT PAYMENTS 4,708,603
CASH BALANCE:
TOTAL TIF CASH AND INVESTMENTS AS OF 9/30/2019 23,656,950
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
CASH RECONCILIATION:
TIF CASH Beginning Balance per CAFR Includes $(17,121) Investment Market Value Adj 21,054,642
FY19 Activity (change in Cash)Includes $35,355 Investment Market Value Adj 2,620,542
Total Revenues 574,349
Total expenditures (4,708,603)
Accounts Payable 727,634
Interest Receivable (5,071)
Retainage Payable 85,118
Total Change in Cash (3,326,574)