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Home My WebLink AboutTax Increment Finance (TIF)-Agenda Packets-09/28/2021City 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 Tuesday, September 28, 2021 12 Noon Executive Conference Room Third Floor, City Hall 1.CALL TO ORDER 2.CONSENT: READING AND PUBLIC HEARING - RESOLUTION R-21-01 2a Approval of the July 29, 2020 Tax Increment Financing District Board Meeting Minutes 2b Approval of the January 27, 2021 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 Thursday, September 23, 2021, 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-21-01 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 September 28, 2021. 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 29, 2020 are hereby approved. Sec. 2. THAT the minutes of the Tax Increment Financing District Board of Directors meeting held January 27, 2021 are hereby approved AND IT IS SO RESOLVED. APPROVED BY A VOTE OF ___ AYES, NAYS, ON THIS THE 28TH DAY OF SEPTEMBER 2021. 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 MINUTES 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 The Tax Increment Financing District Board of Directors meeting was called to order by Chairman Richard Newton on July 29, 2020, at 12:17 p.m. ROLL CALL: Chairman Richard Newton, Vice Chair George Dodson, and Directors Kathy Wheat, and Tammy Nakamura PRESENT VIA WEBEX: Directors John Eubanks, Susan Alanis, and J.R. Labbe ABSENT: Directors Rebecca Barksdale and Bobby Lindamood ALSO PRESENT: City Manager Jerry Ducay, Assistant City Manager Mark Wood, Finance Director Kyle Lester, Accounting Manager Karen Hines, and Assistant to the City Secretary Keera Seiger 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 Chairman Newton read Resolution R-20-01 in its entirety. Director Nakamura made a motion to approve Resolution R-20-01, and Director Dodson seconded the motion. The motion to approve carried by the following vote: Aye: 7 - Chairman Richard Newton, Vice Chair George Dodson, and Directors John Eubanks, Susan Alanis, Tammy Nakamura, J.R. Labbe, and Kathy Wheat Absent: 2 - Directors Rebecca Barksdale and Bobby Lindamood City of Colleyville Page 2 Tax Increment Finance District MINUTES July 29, 2020 3. PRESENTATION AND DISCUSSION 3a Review and discuss the status of the Colleyville Tax Increment Financing District Finance Director Kyle Lester presented this item and answered questions of the Board. Director Lester 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. This TIF’s last debt payment was made this year, meaning it is currently debt free. Director Lester reviewed the history of the TIF and stated the TIF will expire in 2030. He then presented an update on TIF taxable values, TIF participation, project plans, the 5-year plan, and TIF project highlights, including Cheek-Sparger Road construction, Northern Gateway land purchases, SH26 corridor beautification, Glade Road construction, and the Colleyville Business Center. There was general discussion regarding the 5-year plan, TIF funds, future project plans, and the plans for the TIF district in 2030. 4. ADJOURNMENT There being no further business before the Tax Increment Financing District Board, Chairman Newton adjourned the meeting without objection at 12:57 p.m. APPROVED ON THIS THE 28TH DAY OF JULY 2021. Minutes taken and prepared by: Keera Seiger Assistant to the City Secretary City of Colleyville Page 1 City of Colleyville Tax Increment Financing District Board MINUTES City Hall 100 Main Street Colleyville, Texas 76034 817. 503.1000 www.colleyville.com Thursday, January 27, 2021 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 27, 2021, at 12:00 p.m. ROLL CALL: Chairman Richard Newton, Vice Chairman George Dodson and Directors Chuck Kelley, Callie Rigney, Kathy Wheat, Carole Bracken, and J. R. Labbe. ABSENT: Director Rebecca Barksdale and Director John Eubanks. ALSO PRESENT: Finance Director Kyle Lester, City Manager Jerry Ducay, Assistant City Manager Adrienne Lothery, Assistant City Manager Mark Wood, and Secretary Christine Loven. 2. PRESENTATION AND DISCUSSION 2a Fiscal Year 2020 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 2020. During the review, Director Lester noted the City had confirmed with the TIF Consultant, there were over $5.5 million in TIF-eligible projects were funded by CEDC bonds, which included City Park, Library, and City Hall projects. Staff reimbursed the CEDC for the TIF-eligible projects, which allowed the CEDC bonds to be called and saved over $600,000 in interest. 3. ADJOURNMENT City of Colleyville Page 2 Tax Increment Financing District MINUTES January 27, 2021 There being no further business before the Tax Increment Financing District Board, Chairman Newton adjourned the meeting at 12:15 p.m. APPROVED ON THIS THE 28TH DAY OF JULY 2021. 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 9/28/2021 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. TIF Presentation - September 2021 2. FY 2021 - 2030 TIF CIP - September 2021 3. TIF Fund-2013-FY 2021 Reconciliation 4. TIF Annual Report - FY Ended September 30, 2021 Annual Board Meeting City of Colleyville TIF Board September 28, 2021 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 2021 Timeline Dates Action July 25, 2020 TAD certifies AV values for FY 2021 December 2020 City of Colleyville submits annual report for Fiscal Year ended Sept. 30, 2020 (FY 2020) –due 90 days after FYE January 2021 TIF Board meeting –Update on Financial Position & 5-Year Working Plan March 2021 Final Updates to 2020 AV values received from TAD; City of Colleyville invoices TIF partners for FY 2021 May 1, 2021 FY 2021 TIF payments due July 2021 Certified values available September 2021 Annual TIF Board meeting –DELAYED FROM JULY TIF Taxable Value Update 1998 Taxable Base Value:$75,821,735 2020 Taxable Value :$511,120,583 2021 Taxable Value:$498,752,911 Incremental Value Increase:$422,931,176 2021 New Construction:$1,651,211 Expanded TIF Area Base Value:$30,796,078 2020 Taxable Value:$46,458,991 2021 Taxable Value:$46,972,175 Incremental Value Increase:$16,176,097 2021 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 2020 TIF Board meeting –Shared an updated work plan that forecasts revenue/fund balance through 12/31/2030 •September 2021 TIF Board meeting –Continued work plan through 12/31/2030 TIF Project Highlights SH26 Corridor Land Purchases Glade Road Glade Road (SH26 to Pool Road): Fall 2020 –Construction began (estimate 30 months) Currently widening Oak Timbers Court & completing roundabout Colleyville Business Center Gift Cards Questions & Discussion Title Original Project Plan Grants Category Roadway Improvements Trails & Public Amenities Admin. Expenses TOTAL Amended Project Plan Fund Total Estimated 6/30/2021 Available Balances $1,291,373 $1,270,894 $2,562,267 Projects under contract or in progress 0 0 City Hall Interior Renovation $400,000.00 0 $400,000.00 Fire Stations Bay Area Renovation $85,000.00 0 $85,000.00 Glade Road (Phase 2 - SH26 to Pool) - FY21 Construction $5,500,000.00 0 $5,500,000.00 Library 2nd Floor Renovation $125,000.00 0 $125,000.00 Permit Software Acquisition $180,000.00 180,000$ $180,000.00 SH26 Beautification FY2021 $3,370,000.00 0 $3,370,000.00 Stormwater Master Plan $186,000.00 0 $186,000.00 Sum Of Total Project Cost:$9,666,000.00 $0.00 $0.00 $0.00 $180,000.00 $180,000.00 $9,846,000.00 (+) 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 (-/+) Transfers in/out $8,381,432 $0 $0 $0 $0 $0 $8,381,432 (+) FY21 Budgeted Contribution $560,427 $0 $0 $0 $0 $7,728 $568,155 Estimated 10/1/2021 Available Balance -$192,446 $1,098,622 $906,176 Central Fire Station Interior Renovation $125,000.00 $0.00 $125,000.00 Cheek-Sparger Road (San Bar to Brown Trail) - Design $26,000.00 $26,000.00 $26,000.00 City Hall and Library Exterior Cleaning and Sealing $300,000.00 $0.00 $300,000.00 Colleyville Gateways $4,000,000.00 $4,000,000.00 $4,000,000.00 Fiber Optic $300,000.00 $0.00 $300,000.00 Glade Road (Phase 2 - SH26 to Pool) - FY22 Construction $6,000,000.00 $0.00 $6,000,000.00 Glade Road at Bluebonnet Drive $700,000.00 $0.00 $700,000.00 Historic Fire Station Renovation $100,000.00 $0.00 $100,000.00 Justice Center Exterior Safety Enhancements $200,000.00 $0.00 $200,000.00 Nature Center Trail-Construction $1,000,000.00 $1,000,000.00 $1,000,000.00 Roberts Road - Construction $1,000,000.00 $1,000,000.00 $1,000,000.00 Sum Of Total Project Cost:$7,725,000.00 $0.00 $1,026,000.00 $5,000,000.00 $0.00 $6,026,000.00 $13,751,000.00 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Professional Services Transfer to General Fund)$307,028 $600,000 $0 $0 $0 $600,000 $907,028 (-/+) Transfers in/out $4,173,546 $0 $0 $0 $0 $4,173,546 $8,347,092 (+) FY22 Budgeted Contribution $4,616,770 $0 $0 $0 $0 $2,145,297 $6,762,067 Estimated 10/1/2022 Available Balance $565,842 $791,465 $1,357,307 Central Fire Station Backup Generator $400,000.00 $0.00 $400,000.00 Cheek-Sparger Road (San Bar to Brown Trail) - Construction $200,000.00 $200,000.00 $200,000.00 Cheek-Sparger Trail - Design $50,000.00 $50,000.00 $50,000.00 Colleyville Gateways $4,500,000.00 $4,500,000.00 $4,500,000.00 Drainage Improvements $100,000.00 $0.00 $100,000.00 Historic Fire Station Renovation $50,000.00 $0.00 $50,000.00 Senior Center Renovations-2023 $1,000,000.00 $0.00 $1,000,000.00 Sum Of Total Project Cost:$1,550,000.00 $0.00 $250,000.00 $4,500,000.00 $0.00 $4,750,000.00 $6,300,000.00 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Professional Services Transfer to General Fund)$310,103 $600,000 $0 $0 $0 $600,000 $910,103 (-/+) Transfers in/out $0 $0 $0 $0 $0 $0 $0 (+) FY23 Budgeted Contribution $4,754,523 $0 $0 $0 $0 $2,204,898 $6,959,421 Estimated 10/1/2023 Available Balance $3,460,262 -$2,353,638 $1,106,625 Brown Trail Rehabilitation $750,000.00 $750,000.00 $750,000.00 Cheek-Sparger Trail $150,000.00 $150,000.00 $150,000.00 Sum Of Total Project Cost:$0.00 $0.00 $900,000.00 $0.00 $0.00 $900,000.00 $900,000.00 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Professional Services Transfer to General Fund)$313,221 $600,000 $0 $0 $0 $600,000 $913,221 (-/+) Transfers in/out -$4,400,000 $0 $0 $0 $0 $0 -$4,400,000 (+) FY24 Budgeted Contribution $4,906,409 $0 $0 $0 $0 $2,237,687 $7,144,095 Estimated 10/1/2024 Available Balance $3,653,450 -$600,000 $0 $0 $0 -$1,615,951 $2,037,499 Title Original Project Plan Grants Category Roadway Improvements Trails & Public Amenities Admin. Expenses TOTAL Amended Project Plan Fund Total City Hall Dumpster Enclosure and Storage Facility $150,000.00 $0.00 $150,000.00 Drainage Improvements FY2025 $100,000.00 $0.00 $100,000.00 Nature Center Trail PH2a-Construction $500,000.00 $500,000.00 $500,000.00 Sum Of Total Project Cost:$250,000.00 $0.00 $0.00 $500,000.00 $0.00 $500,000.00 $750,000.00 Estimated 9/30/25 Year End Balance $3,403,450 -$600,000 $0 -$500,000 $0 -$2,115,951 $1,287,499 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Professional Services Transfer to General Fund)$316,381 $600,000 $0 $0 $0 $600,000 $916,381 (-/+) Transfers in/out -$6,000,000 $0 $0 $0 $0 $0 -$6,000,000 (+) FY25 Budgeted Contribution $5,057,551 $0 $0 $0 $0 $2,315,917 $7,373,468 Estimated 10/1/2025 Available Balance $2,144,619 -$400,033 $1,744,586 Nature Center Trail PH2b-Construction $2,000,000.00 $2,000,000.00 $2,000,000.00 Sum Of Total Project Cost:$0.00 $0.00 $0.00 $2,000,000.00 $0.00 $2,000,000.00 $2,000,000.00 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list (Professional Services Transfer to General Fund)$319,584 $600,000 $0 $0 $0 $600,000 $919,584 (-/+) Transfers in/out -$5,500,000 $0 $0 $0 $0 $0 -$5,500,000 (+) FY26 Budgeted Contribution $5,186,681 $0 $0 $0 $0 $2,371,787 $7,558,468 Estimated 10/1/26 Available Balances $1,511,716 -$628,246 $883,470 Total Project Cost Grand Total Sum:$19,191,000.00 $0.00 $2,176,000.00 $12,000,000.00 $180,000.00 $14,356,000.00 $33,547,000.00 FY 2027-2030 (+) FY27Revenue $5,436,148 $2,472,560 $7,908,708 (-) FY27 Expenses/Transfers Out $1,923,580 $600,000 $600,000 $2,523,580 (+) FY28Revenue $5,692,228 $2,583,356 $8,275,584 (-) FY28 Expenses/Transfers Out $3,819,852 $600,000 $2,978,524 $6,798,376 (+) FY29Revenue $5,960,471 $2,699,416 $8,659,887 (-) FY29 Expenses/Transfers Out $2,521,127 $600,000 $1,800,000 $4,321,127 (+) FY30Revenue $6,241,456 $2,820,988 $9,062,444 (-) FY30 Expenses/Transfers Out $222,428 $600,000 $2,895,022 $3,117,450 Estimated 10/1/30 Available Balances $16,355,031.15 $1,674,527.81 $18,029,559 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 Transfer from Capital Project Funds Grant Proceeds 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 BUSINESS CENTER 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 2021 3,896,764 1,149 10,000,000 118,373 14,016,286 559,465 20,165 171 579,801 1,303,216 46,824 31,510 442 1,381,992 TOTAL TIF REVENUES 29,518,122 800,239 10,000,000 118,373 40,436,734 4,158,646 74,782 116,923 4,350,351 9,762,964 214,298 31,510 275,116 10,283,888 14,634,239 TIF EXPENDITURES AS OF 6.7.18 ORIGINAL PLAN ADMIN. EXPENSES TRAILS & PUBLIC AMENITIES ROADWAY IMPROVEM.TIF GRANTS FY 2013 Total 1,543,634 - - - 485,936 - - - - 764,077 FY 2014 Total 2,424,710 - - - 479,603 - - - - 625,000 FY 2015 Total 3,970,734 - - - 637,187 - - - - 705,000 FY 2016 Total 2,305,386 - - - 602,802 - - - - - FY 2017 Total 2,011,536 - - - 1,933,872 - - - - - FY 2018 Total 1,624,774 - - 50,534 1,598,284 - - - - 123,050 FY 2019 Total 3,920,269 - - 133,986 479,504 - - - - 174,843 FY 2020 Total 16,414,957 - - 704,580 901,381 - - - - 896,725 2021-DEBT PAYMENTS & COSTS 2021-LAND 768,397 2021-SH 26 3,955,199 2021-LIBRARY EQUIPMENT & SUPPLIES 79,901 2021-PROFESSIONAL SERVICES 45,488 2021-PROFESSIONAL SERVICES - NORTHERN GATEWAY 73,511 2021-CITY HALL - GOUNDS / IMPROVEMENTS 682,908 2021-DOWNTOWN IMPROVEMENTS - VOA DUES 37,809 2021-PROPERTY TAXES 64,984 2021-TRANSFER TO OTHER FUNDS-CEDC PROJECT COST 5,518,968 2021-TRANSFER TO OTHER FUND-BUDGET TRANSFER 194,318 2021-STORM DRAINAGE MASTER PLAN 17,500 2021-CV PLAZA RENOVATION 14,111 2021-FIRE STATION - CENTRAL FIRE STATION RENOVATION 181,257 2021-RIVERWALK DRIVE 4,998 2021-ROADWAY IMPROVEMENTS-GLADE ROAD ROW ACQUISITION 28,221 2021-ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 57,845 2021-ROADWAY IMPROVEMENTS - GLADE ROAD PHASE11-CONST 2,588,212 2021-ECONOMIC DEVELOPMENT GRANT 893,516 2021-TRAILS & PUBLIC AMENITIES - JOHN MCCAIN AND WESTCOAT ROUNDABOUT 490,066 2021-TRAILS & PUBLIC AMENITIES - JOHN MCCAIN HIKE AND BIKE TRAIL 731,257 2021-TRAILS & PUBLIC AMENITIES - JOHN MCCAIN CULTVERT CROSSING 209,778 2021-TRAILS & PUBLIC AMENITIES - NATURE CENTER TRAIL 171,443 2021-ROADWAY IMPROVEMENTS-CHEEKSPARGER 1,865,763 TOTAL TIF EXPENDITURES (LIFE TO DATE)45,855,349 - - 2,491,644 11,658,610 - - - - 4,182,211 18,332,465 REMAINING FUNDS 2,993,846 2,946,367 ORIGINAL PROJECT PLAN AMENDED PROJECT PLAN TIF RECONCILIATION 2013 - 2021 TAXABLE VALUE: GCISD County & Hospital County College City of Colleyville Colleyville TIF #1 TAX YEAR 2019 / FY 2020 TAXABLE VALUE $500,818,462 505,574,724 503,997,217 1998 BASE VALUE $75,593,230 75,779,230 75,821,735 INCREMENTAL VALUE INCREASE $425,225,232 $0 $429,795,494 428,175,482 Colleyville TIF #1A TAX YEAR 2019 / FY 2020 TAXABLE VALUE 46,302,191 46,180,191 2012 BASE VALUE 30,811,178 30,796,078 INCREMENTAL VALUE INCREASE $0 $15,491,013 15,384,113 NOTE: Taxable value can vary slightly for each taxing entity based on differing exemptions REVENUES: Tax Increment Revenues TIF #1 - CITY OF COLLEYVILLE (0.00289441 x TIF#1 incremental value)(0.000114924xTIF#1 incremental value)1,303,216 TARRANT COUNTY COLLEGE DISTRICT (0.0013017 x TIF#1 incremental value)559,465 GRAPEVINE COLLEYVILLE ISD -TOTAL PAYMENT* (0.0091640 x TIF#1 incremental value)3,896,764 GRAPEVINE COLLEYVILLE ISD **(0.26 x TIF#1 incremental value/100) 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 5,759,445 Tax Increment Revenues TIF #1A - CITY OF COLLEYVILLE (0.00289441 x TIF#1 incremental value)(0.00014924xTIF#1 incremental value)46,824 TARRANT COUNTY COLLEGE DISTRICT (0.0013017 x TIF#1 incremental value)20,165 TOTAL 5,826,434 CITY OF COLLEYVILLE BUSINESS CENTER 31,510 GRANT PROCEEDS 118,373 TRANSFER FROM CAPITAL PROJECT FUND 10,000,000 Interest Income 1,762 Misc-GCISD (0) *THIS IS CALCULATED BASED ON THE COMPRESSED M&O TAX RATE, AS STIPULATED BY STATE LAW (H.B. 3646 [81]) TIF ANNUAL REPORT - CITY OF COLLEYVILLE FISCAL YEAR ENDED SEPTEMBER 30, 2021 (FY 2021) ** 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: Original Project Plan- LAND 768,397 SH 26 3,955,199 LIBRARY - EQUIPMENT & SUPPLIES 79,901 PROFESSIONAL SERVICES 45,488 PROFESSIONAL SERVICES - NORTHERN GATEWAY 73,511 CITY HALL - GOUNDS / IMPROVEMENTS 682,858 COLLEYVILLE CHAMBER OF COMMERCE 50 PROPERTY TAXES 64,984 DOWNTOWN IMPROVEMENTS - VOA DUES 37,809 TRANSFER TO OTHER FUND-CEDC PROJECT COST 5,518,968 TRANSFER TO OTHER FUND-BUDGET TRANSFER 194,318 STORM DRAINAGE MASTER PLAN 17,500 CV PLAZA RENOVATION 14,111 FIRE STATION - CENTRAL FIRE STATION RENOVATION 181,257 RIVERWALK DRIVE 4,998 Amended Project Plan- ROADWAY IMPROVEMENTS-GLADE ROAD ROW ACQUISITION 28,221 ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 57,845 ROADWAY IMPROVEMENTS - GLADE RD PHASE 11-CONST 2,588,212 ECONOMIC DEVELOPMENT GRANT 893,516 TRAILS & PUBLIC AMENITIES - JOHN MCCAIN AND WESTCOAT ROUNDABOUT 490,066 TRAILS & PUBLIC AMENITIES - JOHN MCCAIN HIKE AND BIKE TRAIL 731,257 TRAILS & PUBLIC AMENITIES - JOHN MCCAIN CULTVERT CROSSING 209,778 TRAILS & PUBLIC AMENITIES - NATURE CENTER TRAIL 171,443 ROADWAY IMPROVEMENTS- CHEEKSPARGER 1,865,763 TOTAL EXPENDITURES 18,675,450 CASH BALANCE: TOTAL TIF CASH AND INVESTMENTS AS OF 9/30/2020 CASH RECONCILIATION: TIF CASH Beginning Balance per CAFR Includes $(17,121) Investment Market Value Adj FY21 Activity (change in Cash)(1,673,169) Total Revenues 15,978,078 Total expenditures (18,675,450) Accounts Payable 1,000,900 Accrued Salaries (1,192) FICA Payable (91) Property Tax Payable 7,350 Accrued Interest 17,236 Total Change in Cash (1,673,169)