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HomeMy WebLinkAboutTax Increment Finance (TIF)-Agenda Packets-07/29/2020 City 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 Wednesday, July 29, 2020 12 Noon Executive Conference Room Third Floor, City Hall 1. CALL TO ORDER 2. CONSENT: READING AND PUBLIC HEARING- RESOLUTION R-20-01 2a Approval of the July 31, 2019 Tax Increment Financing District Board Meeting Minutes 2b Approval of the January 22, 2020 Tax Increment Financing District Board Meeting Minutes 3. PRESENTATION AND DISCUSSION 3a Review and discuss the status of the Colleyville Tax Increment Financing District 4. ADJOURNMENT I hereby certify this agenda was posted on City Hall bulletin boards Friday, July 24, 2020 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. RESOLUTION R-20-01 A RESOLUTION APPROVING MINUTES OF THE TAX INCREMENT FINANCING DISTRICT BOARD OF DIRECTORS MEETING WHEREAS,the Colleyville Tax Increment Financing District Board of Directors held a meeting on July 29, 2020. NOW, THEREFORE, BE IT RESOLVED BY THE TAX INCREMENT FINANCING DISTRICT BOARD OF DIRECTORS OF THE CITY OF COLLEYVILLE TEXAS: Sec 1. THAT the minutes of the Tax Increment Financing District Board of Directors meeting held July 31, 2019 are hereby approved. Sec. 2.THAT the minutes of the Tax Increment Financing District Board of Directors meeting held January 22, 2020 are hereby approved AND IT IS SO RESOLVED. APPROVED BY A VOTE OF ___ AYES, NAYS, ON THIS THE 29TH DAY OF JULY 2020. ATTEST: COLLEYVILLE TAX INCREMENT FINANCING DISTRICT BOARD Christine Loven, TRMC Richard Newton City Secretary Chairman 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 7/29/2020 Number Type Resolution Department City Secretary Title Approval of the July 31, 2019 Tax Increment Financing District Board Meeting Minutes Explanation Attachments 1.July 31, 2019 TIF Minutes City of Colleyville Page 1 City of Colleyville Tax Increment Financing District Board MINUTES - DRAFT City Hall 100 Main Street Colleyville, Texas 76034 817. 503.1000 www.colleyville.com Wednesday, July 31, 2019 12 Noon Executive Conference Room Third Floor, City Hall 1.CALL TO ORDER The Tax Increment Financing District Board of Directors meeting was called to order by Chairman Richard Newton on July 31, 2019, at 12:03 p.m. ROLL CALL: Chairman Richard Newton and Directors George Dodson, Kathy Wheat, Bobby Lindamood, Tammy Nakamura, John Eubanks, and Carol Bracken. ABSENT: Directors Scott Rule and Rebecca Barksdale ALSO PRESENT: Assistant City Manager Adrienne Lothery, Assistant City Manager Mark Wood, Accounting Manager Karen Hines, and City Secretary Christine Loven. 2.CONSENT: READING AND PUBLIC HEARING- RESOLUTION R-19-01 2a Approval of the July 30, 2018 Tax Increment Financing District Board Meeting Minutes 2b Approval of the January 24, 2019 Tax Increment Financing District Board Meeting Minutes Chairman Newton read Resolution R-19-01 in its entirety. Chairman Newton opened the public hearing at 12:05 p.m. There was no one present wishing to speak and Mayor Newton closed the public hearing at 12:05. Director Dodson made a motion to approve Resolution R-19-01, and Director Nakamura seconded the motion. The motion to approve carried by the following vote: Aye: 7 - Chairman Richard Newton and Directors George Dodson, Kathy Wheat, Bobby Lindamood, Tammy Nakamura, John Eubanks, and Carol Bracken. Absent: 2 - Directors Scott Rule and Rebecca Barksdale City of Colleyville Page 2 Tax Increment Finance District MINUTES July 31, 2019 3.PRESENTATION AND DISCUSSION 3a Review and discuss the status of the Colleyville Tax Increment Financing District Assistant City Manager Adrienne Lothery presented this item and answered questions of the Board. Manager Lothery stated the TIF was created by Chapter 311 of the Texas Tax Code, to accelerate commercial development in an underdeveloped area, or to renovate existing blighted development in an area, in a specific geographic zone. The TIF entities contribute ad valorem taxes received from the incremental value increase on property within the zone, which provides for debt issuance for infrastructure improvements within the zone. Manager Lothery reviewed the history of the TIF and stated the TIF will expire in 2030. She then reviewed the annual TIF values, stating the TIF continues to exceed projections and is nearing payoff of all TIF debt. Manager Lothery reviewed all the project plans and highlighted SH26 and Glade Road projects, John McCain Trails, and economic development grants before reviewing the 5 year plan. There was general discussion regarding the project plans and estimates for the project and what can occur at the end of the TIF in 2030. 4.ADJOURNMENT There being no further business before the Tax Increment Financing District Board, Chairman Newton adjourned the meeting without objection at 12:46 p.m. APPROVED BY A VOTE OF _ AYES, _ NAYS, AND _ ABSTENTIONS, ON THIS THE 29TH DAY OF JULY 2020. Minutes taken and prepared by: Christine Loven, TRMC City Secretary 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 2b Agenda Date 7/29/2020 Number Type Resolution Department City Secretary Title Approval of the January 22, 2020 Tax Increment Financing District Board Meeting Minutes Explanation Attachments 1.TIF Minutes January 22, 2020 City of Colleyville Page 1 City of Colleyville Tax Increment Financing District Board MINUTES - DRAFT City Hall 100 Main Street Colleyville, Texas 76034 817. 503.1000 www.colleyville.com Thursday, January 22, 2020 12:00 p.m. Executive Conference Room Third Floor, City Hall The Tax Increment Financing District Board of Directors meeting was called to order by Chairman Richard Newton on January 22, 2020, at 12:00 p.m. ROLL CALL: Chairman Richard Newton and Directors George Dodson, Kathy Wheat, Bobby Lindamood, Tammy Nakamura, John Eubanks, Susan Alanis, and J. R. Labbe. ABSENT: Director Rebecca Barksdale ALSO PRESENT: Finance Director Kyle Lester, City Manager Jerry Ducay, Assistant City Manager Adrienne Lothery, Assistant City Manager Mark Wood, Accounting Manager Karen Hines, and Secretary Christine Loven. Chairman Newton welcomed Susan Alanis, Tarrant County College; and J. R. Labbe, Tarrant County Hospital District, and gave a high level overview of the development of the TIF. 2. PRESENTATION AND DISCUSSION 2a Fiscal Year 2019 year end update Finance Director Kyle Lester presented Item 2a, which included a review of the original and amended project plans, expenditures to-date, a Five-Year Working Plan, and answered questions of the Board. Director Lester stated all cost projections in the project plans are estimates and are not a limitation, and noted revenue from GCISD participation may not be used on any project category added by the 2012 amendment. He further noted only revenue from City participation can be used in the TIF Grants category. Director Lester stated an updated Five-Year Working Plan will be brought before the Board at the July meeting, per the TIF Bylaws, but he wanted to review the plan through 2019. During the review, Assistant City Manager Adrienne Lothery discussed the SH26 medians, TIF Grants, and placeholders for the City land purchases. Assistant City Manager Mark Wood discussed the Glade Road project, the current City land purchase at the Northern Gateway, and the Colleyville Business Center. Director Nakamura asked staff if the bonds were paid off in 2020. Director Lester stated the debt issued in 2016 as a refunding obligation was to restructure City of Colleyville Page 2 Tax Increment Financing District MINUTES January 22, 2020 several outstanding debt issues into one to save on interest, of which the previous TIF-funded issue was a part. The portion of the 2016 issue the TIF is responsible for does expire after this year. The remaining debt goes out further, however, the TIF only has to pay its portion through February of 2020. Director Labbe asked City staff to explain the Senior Center Improvements. Chairman Newton stated the Senior Center is a renovated Church on 10 acres, owned by the City. The City is currently in the process of deciding what, if any, changes need to occur at the Center and noted four options were presented to the public in a recent Citizen Survey. City Manager Jerry Ducay stated it has become apparent, if the Senior Center is redesigned or constructed to be a Recreation Center, this will become a City Capital Plan conversation as costs would exceed TIF funding. Director Alanis questioned the use of TIF funds for City Capital Maintenance items. Manager Lothery advised the restrictive funds are being used from the original project scope. Director Alanis stated it appears there is a miscalculation for Tarrant County College District’s participation in the TIF #1A. Director Lester advised he will review this item and advise the Board if a correction is necessary. 3. ADJOURNMENT There being no further business before the Tax Increment Financing District Board, Chairman Newton adjourned the meeting at 12:40 p.m. APPROVED BY A VOTE OF _ AYES, _ NAYS, AND _ ABSTENTIONS, ON THIS THE 29TH DAY OF JULY 2020. Minutes taken and prepared by: Christine Loven, TRMC Secretary 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 3a Agenda Date 7/29/2020 Number Type Presentation and Discussion Department City Manager Title Review and discuss the status of the Colleyville Tax Increment Financing District Explanation Staff will provide a status update of the Five-Year Working Plan of the Colleyville Tax Increment Financing (TIF) District and highlights of major projects. Attachments 1.July 2020 TIF Board Meeting Presentation 2.FY 2020 - 2025 TIF CIP - July 2020 3.TIF Fund-FY 2020 Annual Board Meeting City of Colleyville TIF Board July 29, 2020 Background: Purpose of a TIF •Chapter 311 of the Texas Tax Code •To accelerate commercial development in an underdeveloped area (geographic zone) or to renovate existing blighted development in an area •Entities contribute ad valorem taxes received from the incremental value increase on property within the zone •Provides for debt issuance for infrastructure improvements within the zone TIF Map 1998 TIF #1 created 2012 TIF #1a added 2030 TIF expires Background: FY 2020 Timeline Dates Action Summer 2019 Taxing entities adopt a tax rate for FY 2020 July 25, 2019 TAD certifies AV values for FY 2020 December 2019 City of Colleyville submits annual report for Fiscal Year ended Sept. 30, 2019 (FY 2019) –due 90 days after FYE January 2020 TIF Board meeting –Update on Financial Position & 5-Year Working Plan March 2020 Final Updates to 2019 AV values received from TAD; City of Colleyville invoices TIF partners for FY 2020 May 1, 2020 FY 2020 TIF payments due July 2020 Annual TIF Board meeting -in July per bylaws TIF Taxable Value Update 1998 Taxable Base Value:$75,821,735 2018 Taxable Value :$470,308,215 2019 Taxable Value:$498,749,546 Incremental Value Increase:$422,927,811 2019 New Construction:$583,549 Expanded TIF Area Base Value:$30,796,078 2018 Taxable Value:$42,820,755 2019 Taxable Value:$46,639,907 Incremental Value Increase:$15,843,829 2019 New Construction:$0 TIF Participation Entity Rate Still Participating? City of Colleyville 100%YES Grapevine Colleyville ISD 100% M&O*YES Tarrant County 100%**NO -$4.35M cap reached in 2012 Tarrant County College District 100%YES Tarrant County Hospital District 100%***NO -$3.85M cap reached in 2012 * 74% dedicated to $27 million in general public improvements and remaining 26% dedicated to GCISD school improvements 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 Amended Project Plan Economic Development TIF Grants Roadway Improvements Trails & Public Amenities Administrative Expenses 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 5-Year Plan •January 2018 TIF Board meeting -shared first 5-year Working Plan •Continue to update plan 2x each year to share at January and July TIF Board meetings •July 2019 TIF Board meeting -Work Plan forecasted revenue for all remaining years (through TIF expiration on 12/31/30) •July 2020 TIF Board meeting –Updated work plan continues to forecast revenue/fund balance through 12/31/2030 TIF Project Highlights Cheek-Sparger Construction Land Purchases SH26 Corridor Glade Road Glade Road (Colleyville Boulevard to Pool Road): Summer 2019 -Complete the final design (plans are at 90%), complete land acquisitions, coordinate with the various franchise utilities Summer/Fall 2019 -Utility relocations (9 Months +/-) Winter 2019/2020 –Bidding Phase and Contract Award Summer 2020 –Anticipate Construction Summer 2021 –Construction complete Colleyville Business Center Questions & Discussion Title Original Project Plan Grants Category Roadway Improvements Trails & Public Amenities Admin. Expenses TOTAL Amended Project Plan Fund Total Estimated 6/1/2020 Available Balances $12,864,857 $6,927,230 $19,792,087 Projects under contract or in progress 0 0 Cheek-Sparger Road (San Bar to Brown Trail) - Design $50,000.00 $50,000.00 $50,000.00 Construction of Parking Facility at Central Fire Station $125,000.00 $0.00 $125,000.00 Drainage Fee Assessment Study $50,000.00 $0.00 $50,000.00 Drainage Improvements FY2020 $150,000.00 $0.00 $150,000.00 Colleyville Business Center $200,000.00 $200,000.00 $200,000.00 John McCain Road and Westcoat Drive Roundabout - Construction $800,000.00 $800,000.00 $800,000.00 Land Purchases $9,900,000.00 $0.00 $9,900,000.00 Nature Center Trail-Design $324,000.00 $324,000.00 $324,000.00 Roberts Road (Glade to Grapevine City Limits) - DESIGN $205,000.00 $205,000.00 $205,000.00 Roberts Road (Glade to Grapevine City Limits) - ROW Acquisition $60,000.00 $60,000.00 $60,000.00 SH26 Beautification FY2020 $2,000,000.00 $0.00 $2,000,000.00 Stormwater Master Plan $193,000.00 $0.00 $193,000.00 Sum Of Total Project Cost:$12,418,000.00 $200,000.00 $1,115,000.00 $324,000.00 $0.00 $1,639,000.00 $14,057,000.00 Estimated 9/30/21 Year End Balance $446,857 $5,288,230 $5,735,087 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Debt Service/Professional Services Transfer to General Fund)$759,678 $0 $0 $0 $0 $0 $759,678 (+) FY21 Budgeted Contribution $356,623 $0 $0 $0 $0 $160,222 $516,845 Estimated 10/1/2020 Available Balance $43,802 $5,448,452 $5,492,254 Annual Sidewalk/Trail Construction/Grant Match FY2021 $100,000.00 $100,000.00 $100,000.00 Central Fire Station Interior Renovation $125,000.00 $0.00 $125,000.00 Cheek-Sparger Road (San Bar to Brown Trail) - Construction $1,328,000.00 $1,328,000.00 $1,328,000.00 Cheek-Sparger Trail-Design $125,000.00 $125,000.00 $125,000.00 City Hall Interior Renovation $200,000.00 $0.00 $200,000.00 City Hall/Library - HVAC Replacement $327,600.00 $0.00 $327,600.00 Drainage Improvements FY2021 $150,000.00 $0.00 $150,000.00 Fiber Optic $300,000.00 $0.00 $300,000.00 Fire Stations Bay Area Renovation $85,000.00 $0.00 $85,000.00 Glade Rd (Phase 2-SH26 to Pool) Design $70,000.00 $0.00 $70,000.00 Glade Road (Phase 2 - SH26 to Pool) - FY21 Construction $9,000,000.00 $0.00 $9,000,000.00 Glade Road at Bluebonnet Drive $700,000.00 $700,000.00 $700,000.00 John McCain Rd Trail-Construction $800,000.00 $0.00 $800,000.00 Justice Center Exterior Safety Enhancements $200,000.00 $0.00 $200,000.00 Library 2nd Floor Renovation $125,000.00 $0.00 $125,000.00 SH26 Beautification FY2021 $7,500,000.00 $0.00 $7,500,000.00 Sum Of Total Project Cost:$18,882,600.00 $0.00 $1,328,000.00 $925,000.00 $0.00 $2,253,000.00 $21,135,600.00 Estimated 9/30/21 Year End Balance -$18,838,798 $3,195,452 -$15,643,346 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Professional Services Transfer to General Fund)$194,318 $0 $0 $0 $0 $0 $194,318 (-/+) Transfers in/out $9,331,432 $0 $0 $0 $0 $0 $9,331,432 (+) FY22 Budgeted Contribution $4,489,300 $0 $0 $0 $0 $2,016,932 $6,506,232 Estimated 10/1/2021 Available Balance -$5,212,384 $5,212,384 $0 Annual Sidewalk/Trail Construction/Grant Match FY2022 $100,000.00 $100,000.00 $100,000.00 Drainage Improvements FY2022 $150,000.00 $0.00 $150,000.00 Glade Road (Phase 2 - SH26 to Pool) - FY22 Construction $5,000,000.00 $0.00 $5,000,000.00 Nature Center Trail-Construction $1,000,000.00 $1,000,000.00 $1,000,000.00 Roberts Road - Construction $1,500,000.00 $1,500,000.00 $1,500,000.00 SH26 Beautification FY2022 $3,000,000.00 $0.00 $3,000,000.00 Sum Of Total Project Cost:$8,150,000.00 $0.00 $1,500,000.00 $1,100,000.00 $0.00 $2,600,000.00 $10,750,000.00 Estimated 9/30/22 Year End Balance -$13,362,384 $2,100,000 -$11,262,384 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 Title Original Project Plan Grants Category Roadway Improvements Trails & Public Amenities Admin. Expenses TOTAL Amended Project Plan Fund Total (-) Costs not included in project list (Professional Services Transfer to General Fund)$196,261 $0 $0 $0 $0 $0 $196,261 (-/+) Transfers in/out $4,759,476 $0 $0 $0 $0 $0 $4,759,476 (+) FY23 Budgeted Contribution $4,622,427 $2 $3 $4 $5 $2,076,742 $6,699,169 Estimated 10/1/2022 Available Balance -$4,176,743 $4,176,742 $0 Annual Sidewalk/Trail Construction/Grant Match FY2023 $100,000.00 $100,000.00 $100,000.00 Cheek-Sparger Trail $400,000.00 $400,000.00 $400,000.00 Drainage Improvements FY2023 $150,000.00 $0.00 $150,000.00 Nature Center Trail PH2-Construction $2,500,000.00 $2,500,000.00 $2,500,000.00 Rehabilitate the Historic Fire Station $234,000.00 $0.00 $234,000.00 Senior Center Renovations-2023 $1,000,000.00 $0.00 $1,000,000.00 Sum Of Total Project Cost:$1,384,000.00 $0.00 $0.00 $3,000,000.00 $0.00 $3,000,000.00 $4,384,000.00 Estimated 9/30/23 Year End Balance -$5,560,743 $1,176,742 -$4,384,000 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Professional Services Transfer to General Fund)$198,224 $0 $0 $0 $0 $0 $198,224 (-/+) Transfers in/out -$1,859,827 $0 $0 $0 $0 $0 -$1,859,827 (+) FY24 Budgeted Contribution $4,759,547 $0 $0 $0 $0 $2,138,347 $6,897,894 Estimated 10/1/2023 Available Balance -$2,859,247 $0 $0 $0 $0 $3,315,090 $455,843 Annual Sidewalk/Trail Construction/Grant Match FY2024 $100,000.00 $100,000.00 $100,000.00 City Hall and Library Exterior Cleaning and Sealing $350,000.00 $0.00 $0.00 $350,000.00 Drainage Improvements FY2024 $150,000.00 $0.00 $150,000.00 Sum Of Total Project Cost:$500,000.00 $0.00 $0.00 $100,000.00 $0.00 $100,000.00 $600,000.00 Estimated 9/30/24 Year End Balance -$3,359,247 $0 $0 -$100,000 $0 $3,215,090 -$144,157 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Professional Services Transfer to General Fund)$200,206 $0 $0 $0 $0 $0 $200,206 (-/+) Transfers in/out -$839,459 $0 $0 $0 $0 $0 -$839,459 (+) FY25 Budgeted Contribution $4,900,781 $0 $0 $0 $0 $2,201,800 $7,102,581 Estimated 10/1/2024 Available Balance $501,869 $5,416,890 $5,918,759 Annual Sidewalk/Trail Construction/Grant Match FY2025 $100,000.00 $100,000.00 $100,000.00 Drainage Improvements FY2025 $150,000.00 $0.00 $150,000.00 Sum Of Total Project Cost:$150,000.00 $0.00 $0.00 $100,000.00 $0.00 $100,000.00 $250,000.00 Estimated 9/30/25 Year End Balance $351,869 $0 $0 -$100,000 $0 $5,316,890 $5,668,759 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Professional Services Transfer to General Fund)$202,208 $0 $0 $0 $0 $0 $202,208 (-/+) Transfers in/out -$6,261,238 $0 $0 $0 $0 $0 -$6,261,238 (+) FY26 Budgeted Contribution $5,046,252 $0 $0 $0 $0 $2,267,156 $7,313,408 Estimated 10/1/25 Available Balances -$1,065,325 $7,584,046 $6,518,721 Total Project Cost Grand Total Sum:$41,484,600.00 $200,000.00 $3,943,000.00 $5,549,000.00 $0.00 $9,692,000.00 $51,176,600.00 FY 2026-2030 (+) FY26Revenue $5,197,639 $2,335,171 $7,532,810 (+) FY27Revenue $5,353,568 $2,405,226 $7,758,795 (+) FY28Revenue $5,514,175 $2,477,383 $7,991,558 (+) FY29Revenue $5,679,601 $2,551,705 $8,231,305 (+) FY30Revenue $5,849,989 $2,628,256 $8,478,244 Estimated 10/1/30 Available Balances $26,529,646.25 $19,981,787.02 $46,511,433 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 4,012,423 515,031 12,777 22,734 550,542 1,223,258 30,455 54,000 1,307,713 2019 4,142,901 321,273 4,464,174 555,043 - 43,042 598,085 1,265,513 38,575 101,129 1,405,217 2020 2,814,278 118,378 2,932,656 538,530 20,065 23,496 582,091 1,264,590 47,294 55,183 1,367,067 TOTAL TIF REVENUES 22,807,080 799,090 26,420,448 3,599,181 54,617 116,752 3,770,550 8,459,748 167,474 274,674 8,901,896 12,672,446 TIF EXPENDITURES AS OF 6.7.18 ORIGINAL PLAN ADMIN. EXPENSES TRAILS & PUBLIC AMENITIES ROADWAY IMPROVEM.TIF GRANTS 2020-DEBT PAYMENTS & COSTS 654,675 2020-LAND 25,000 2020-SH 26 7,615,968 2020-LIBRARY AUDIO SERVICE 10,271 2020-PROFESSIONAL SERVICES 66,606 2020-MAIN STREET - ROUNDABOUT & IMPROVEMENTS 2,130 2020-CITY HALL - LANDSCAPE & IRRIGATION 19,968 2020-CITY HALL - GOUNDS / IMPROVEMENTS 227,403 2020-PROFESSIONAL SERVICES - TRANSFER TO GENERAL FUND 159,390 2020-DOWNTOWN IMPROVEMENTS - VOA DUES 33,459 2020-STORM DRAINAGE MASTER PLAN 104,360 2020-DEVELOPMENT OPPORTUNITIES - MASTER PLAN 6,250 2020-CV PLAZA RENOVATION 1,310,228 2020-FIRE STATION - CENTRAL FIRE STATION RENOVATION 461,248 2020-RIVERWALK DRIVE 7,214 2020-ROADWAY IMPROVEMENTS-GLADE ROAD ROW ACQUISITION 8,403 2020-ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 1A 5,934 2020-ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 161,229 2020-ECONOMIC DEVELOPMENT GRANT 749,080 2020-TRAILS & PUBLIC AMENITIES - HERITAGE/CHEEK SPARGER ROUNDABOUT 5,275 2020-TRAILS & PUBLIC AMENITIES - JOHN MCCAIN AND WESTCOAT ROUNDABOUT 137,850 2020-TRAILS & PUBLIC AMENITIES - JOHN MCCAIN HIKE AND BIKE TRAIL 105,490 2020-TRAILS & PUBLIC AMENITIES - JOHN MCCAIN CULTVERT CROSSING 72,662 2020-TRAILS & PUBLIC AMENITIES - NATURE CENTER TRAIL 100,179 2020-ROADWAY IMPROVEMENTS-CHEEKSPARGER 85,449 TOTAL TIF EXPENDITURES 27,559,534 - 605,976 6,464,097 3,141,050 10,211,123 REMAINING FUNDS 7,273,375 9,105,916 ORIGINAL PROJECT PLAN AMENDED PROJECT PLAN TIF RECONCILIATION 2013 - 2019 TAXABLE VALUE: GCISD County & Hospital County College City of Colleyville Colleyville TIF #1 TAX YEAR 2019 / FY 2020 TAXABLE VALUE $495,196,183 500,157,875 498,749,546 1998 BASE VALUE $75,593,230 75,772,230 75,821,735 INCREMENTAL VALUE INCREASE $419,602,953 $0 $424,385,645 422,927,811 Colleyville TIF #1A TAX YEAR 2019 / FY 2020 TAXABLE VALUE 46,639,907 46,639,907 2012 BASE VALUE 30,811,178 30,796,078 INCREMENTAL VALUE INCREASE $0 $15,828,729 15,843,829 NOTE: Taxable value can vary slightly for each taxing entity based on differing exemptions REVENUES: Tax Increment Revenues TIF #1 - CITY OF COLLEYVILLE (0.00290428 x TIF#1 incremental value)(0.00016379xTIF#1 incremental value)1,264,590 TARRANT COUNTY COLLEGE DISTRICT (0.0013017 x TIF#1 incremental value)538,530 GRAPEVINE COLLEYVILLE ISD -TOTAL PAYMENT* (0.0093 x TIF#1 incremental value)3,803,078 GRAPEVINE COLLEYVILLE ISD **(0.26 x TIF#1 incremental value/100)(988,800) GRAPEVINE COLLEYVILLE ISD ***(0.74 x payment difference from 2018 M&O tax rate vs. 2005 M&O tax rate) TARRANT COUNTY #CAPPED - TARRANT COUNTY HOSPITAL DISTRICT #CAPPED - TOTAL 4,617,397 Tax Increment Revenues TIF #1A - CITY OF COLLEYVILLE (0.00290428 x TIF#1 incremental value)(0.00016379xTIF#1 incremental value)47,294 TARRANT COUNTY COLLEGE DISTRICT (0.0013017 x TIF#1 incremental value)20,065 TOTAL 4,684,757 Interest Income 196,088 Misc-GCISD 968 *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 TIF ANNUAL REPORT - CITY OF COLLEYVILLE FISCAL YEAR 2020 (FY 2020) EXPENDITURES & DEBT PAYMENT: Original Project Plan- DEBT PAYMENTS & COSTS 654,675 LAND 25,000 SH 26 7,615,968 LIBRARY - AUDIO SERVICE 10,271 PROFESSIONAL SERVICES 66,606 MAIN STREET - ROUNDABOUT & IMPROVEMENTS 2,130 CITY HALL - LANDSCAPE & IRRIGATION 19,968 CITY HALL - GOUNDS / IMPROVEMENTS 227,403 DOWNTOWN IMPROVEMENTS - VOA DUES 33,459 PROFESSIONAL SERVICES - TRANSFER TO GENERAL FUND 0 159,390 STORM DRAINAGE MASTER PLAN 104,360 DEVELOPMENT OPPORTUNITIES-MASTER PLAN 6,250 CV PLAZA RENOVATION 1,310,228 FIRE STATION - CENTRAL FIRE STATION RENOVATION 461,248 RIVERWALK DRIVE 7,214 Amended Project Plan- ROADWAY IMPROVEMENTS-GLADE ROAD ROW ACQUISITION 8,403 ROADWAY IMPROVEMENTS - GLADE ROAD PHASE 1A 5,934 ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 161,229 ECONOMIC DEVELOPMENT GRANT 749,080 TRAILS AND PUBLIC AMENITIES- HERITAGE/CHEEK SPARGER ROUNDABOUT 5,275 TRAILS & PUBLIC AMENITIES - JOHN MCCAIN AND WESTCOAT ROUNDABOUT 137,850 TRAILS & PUBLIC AMENITIES - JOHN MCCAIN HIKE AND BIKE TRAIL 105,490 TRAILS & PUBLIC AMENITIES - JOHN MCCAIN CULTVERT CROSSING 72,662 TRAILS & PUBLIC AMENITIES - NATURE CENTER TRAIL 100,179 ROADWAY IMPROVEMENTS- CHEEKSPARGER 85,449 TOTAL EXPENDITURES & DEBT PAYMENTS 12,135,720 CASH BALANCE: TOTAL TIF CASH AND INVESTMENTS AS OF 7/24/2020 CASH RECONCILIATION: FY20 Activity (change in Cash)(8,211,470) Total Revenues 4,881,813 Total expenditures (12,135,720) Accounts Payable (872,445) Interest Receivable - Retainage Payable (85,118) Total Change in Cash (8,211,470)