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Home My WebLink AboutTax Increment Finance (TIF)-Agenda Packets-7/21/2022 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 Thursday, July 21, 2022 12 Noon Executive Conference Room Third Floor, City Hall 1. CALL TO ORDER 2. CONSENT: READING AND PUBLIC HEARING - RESOLUTION R-22-01 2a Approval of the September 28, 2021 Tax Increment Financing District Board Meeting Minutes 2b Approval of the January 27, 2022 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 15, 2022, 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-22-01 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 21, 2022. 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 September 28, 2021 are hereby approved. Sec. 2. THAT the minutes of the Tax Increment Financing District Board of Directors meeting held January 27, 2022 are hereby approved AND IT IS SO RESOLVED. APPROVED BY A VOTE OF ___ AYES, NAYS, ON THIS THE 21ST DAY OF JULY 2022. ATTEST: COLLEYVILLE TAX INCREMENT FINANCING DISTRICT BOARD Christine Loven, TRMC 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 7/21/2022 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 2022 TIF Presentation 2. FY 2022 - 2030 TIF CIP - July 2022 3. TIF Reconciliation 2022 4. Year to Date Summary - TIF Fund-FY 2022 Annual Board Meeting City of Colleyville TIF Board July 21, 2022 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 2022 Timeline Dates Action July 25, 2021 TAD certifies AV values for FY 2022 December 2021 City of Colleyville submits annual report for Fiscal Year ended Sept. 30, 2021 (FY 2021) – due 90 days after FYE January 2022 TIF Board meeting – Update on Financial Position & 5- Year Working Plan March 2022 Final Updates to property values received from TAD; City of Colleyville invoices TIF partners for FY 2022 May 1, 2022 FY 2022 TIF payments due June 2022 5-Year Capital Plan updated (FY23 – FY27) July 21, 2022 Annual TIF Board meeting July 25, 2022 New certified values released from TAD 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 TIF Taxable Value Update 1998 Taxable Base Value:$75,821,735 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: $46,180,191 2021 Taxable Value: $46,792,175 Incremental Value Increase:$15,996,097 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 FY 2022 YTD Revenues/Expenses 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 •January 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 •January 2022 TIF Board Meeting 5-Year Plan Highlights Project Budgeted Remaining Cost Est. Timeline Colleyville Gateways $4.2 million remaining 2023 Completion Cheek-Sparger County Bond $2.35m (city-funding)2023 Design, 2025 Completion Robert’s Road $1m 2023 Completion Senior Center $1m (TIF portion)2023 Completion (TIF portion) Balance Projection  Major Project Highlights (not exhaustive) TIF Project Highlights SH26 Corridor Glade Road Gift Cards Southern Gateway Questions & Discussion Title Original Project Plan Grants Category Roadway Improvements Trails & Public Amenities Admin. Expenses TOTAL Amended Project Plan Fund Total Estimated 10/1/2022 Available Balances $331,765 $1,198,150 $1,529,915 Projects under contract or in progress 0 $0.00 Colleyville Gateways $0 $0 $0 $4,200,000 $0 4,200,000$ 4,200,000$ Roberts Road $0 $0 $1,000,000 $0 $0 1,000,000$ 1,000,000$ Senior Center Renovations $1,000,000 $0 $0 $0 $0 -$ 1,000,000$ Tinker Road $0 $0 $650,000 $0 $0 650,000$ 650,000$ Cheek-Sparger - County Bond Project $0 $0 $350,000 $0 $0 350,000$ 350,000$ Flood Study / Northern Gateway Concept $150,000 $0 $0 $0 $0 -$ 150,000$ Green Ribbon Beautification $120,000 $0 $0 $0 $0 -$ 120,000$ Drainage Improvements $100,000 $0 $0 $0 $0 -$ 100,000$ SH26 Beautification (Brown Trail to Cheek-Sparger)$100,000 $0 $0 $0 $0 -$ 100,000$ Development / Engineering for Southern Gateway $0 $0 $0 $75,000 $0 75,000$ 75,000$ Historic Fire Station Renovation-2023 $50,000 $0 $0 $0 $0 -$ 50,000$ Cheek-Sparger Road (San Bar to Brown Trail)$0 $0 $25,694 $0 $0 25,694$ 25,694$ -$ -$ Sum Of Total Project Cost:$1,520,000 $0 $2,025,694 $4,275,000 $0 $6,300,694 $7,820,694 Estimated 9/30/23 Year End Balance -$1,188,235 ($5,102,544)($6,290,779) (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list $317,194 $600,000 $0 $0 $0 $600,000 $917,194 (-/+) Transfers in/out $0 $0 $0 $0 $0 $2,500,000 $2,500,000 (+) FY23 Budgeted Contribution $4,653,626 $0 $0 $0 $0 $2,162,199 $6,815,825 Estimated 10/1/2023 Available Balance $3,148,197 ($1,040,345)$2,107,851 Brown Trail Rehabilitation $0 $0 $750,000 $0 $0 $750,000 $750,000 Sum Of Total Project Cost:$0 $0 $750,000 $0 $0 $750,000 $750,000 Estimated 9/30/24 Year End Balance $3,148,197 ($1,790,345)$1,357,851 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list $326,618 $600,000 $0 $0 $0 $600,000 $926,618 (-/+) Transfers in/out -$5,100,000 $0 $0 $0 $0 $0 ($5,100,000) (+) FY24 Budgeted Contribution $4,802,987 $0 $0 $0 $0 $2,193,204 $6,996,191 Estimated 10/1/2024 Available Balance $2,524,566 ($197,141)$2,327,425 Cheek-Sparger - County Bond Project $0 $0 $2,000,000 $0 $0 $2,000,000 $2,000,000 Bedford Rd Trl $0 $0 $500,000 $0 $0 $500,000 $500,000 Nature Center Trail $0 $0 $0 $400,000 $0 $400,000 $400,000 Drainage Improvements $100,000 $0 $0 $0 $0 $0 $100,000 $0 $0 Sum Of Total Project Cost:$100,000 $0 $2,500,000 $400,000 $0 $2,900,000 $3,000,000 Estimated 9/30/25 Year End Balance $2,424,566 ($3,097,141)($672,575) (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list $336,399 $600,000 $0 $0 $0 $600,000 $936,399 (-/+) Transfers in/out -$4,500,000 $0 $0 $0 $0 ($4,500,000) (+) FY25 Budgeted Contribution $4,959,977 $0 $0 $0 $0 $2,261,150 $7,221,127 Estimated 10/1/2025 Available Balance $2,548,144 ($1,435,992)$1,112,153 Nature Center Trail $0 $0 $0 $500,000 $0 $500,000 $500,000 $0 $0 Sum Of Total Project Cost:$0 $0 $0 $500,000 $0 $500,000 $500,000 Estimated 9/30/26 Year End Balance $2,548,144 ($1,935,992)$612,153 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list $346,549 $600,000 $0 $0 $0 $600,000 $946,549 (-/+) Transfers in/out -$4,000,000 $0 $0 $0 $0 $0 ($4,000,000) (+) FY26 Budgeted Contribution $5,107,428 $0 $0 $0 $0 $2,624,783 $7,732,211 FY 2022 - 2030 TIF CIP - JULY 2022 Title Original Project Plan Grants Category Roadway Improvements Trails & Public Amenities Admin. Expenses TOTAL Amended Project Plan Fund Total Estimated 10/1/2026 Available Balance $3,309,023 -$600,000 $0 $0 $0 $88,792 $3,397,814 Nature Center Trail $0 $0 $0 $800,000 $0 $800,000 $800,000 Drainage Improvements $100,000 $0 $0 $0 $0 $0 $100,000 $0 $0 Sum Of Total Project Cost:$100,000 $0 $0 $800,000 $0 $800,000 $900,000 Estimated 9/30/27 Year End Balance $3,209,023 -$600,000 $0 -$800,000 $0 ($711,208)$2,497,814 (+) Year-end surplus contributions $0 $0 $0 $0 $0 $0 $0 (-) Costs not included in project list $352,358 $600,000 $0 $0 $0 $600,000 $952,358 (-/+) Transfers in/out -$4,400,000 $0 $0 $0 $0 $0 ($4,400,000) (+) FY27 Budgeted Contribution $5,259,302 $0 $0 $0 $0 $2,390,326 $7,649,627 Estimated 10/1/2027 Available Balance $3,715,966 $1,079,117 $4,795,083 FY 2028-2030 (+) FY28 Revenue $5,415,732 $0 $0 $0 $0 $2,516,828 $7,932,560 (-) FY28 Expenses/Transfers Out $1,902,183 $600,000 $4,100,000 $6,002,183 (+) FY29 Revenue $5,576,855 $0 $0 $0 $0 $2,527,368 $8,104,223 (-) FY29 Expenses/Transfers Out $308,227 $600,000 $3,521,083 $3,829,310 (+) FY30 Revenue $5,742,812 $2,598,988 $8,341,800 (-) FY30 Expenses/Transfers Out $414,392 $600,000 $600,000 $1,014,392 Estimated 10/1/30 Available Balances $17,826,562 -$1,800,000 $0 $0 $0 $501,218 $18,327,780 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 / Federal Proceeds TOTAL REVENUE ATTRIBUTED TO GCISD & OTHER 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 Transfer from Capital Project Funds 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 52,512 271,173 - 3,098,337 397,577 5,900 7,540 411,017 942,549 14,075 - - 17,727 974,351 2017 3,243,782 113,389 - - 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 4,142,901 358,538 - - 4,501,439 555,043 - 48,035 603,078 1,265,513 38,575 - - 112,859 1,416,947 2020 4,330,357 118,378 - - 4,448,735 538,530 20,065 23,496 582,091 1,264,590 47,294 - - 55,183 1,367,067 2021 4,471,413 1,114 10,000,000 792,756 15,265,283 559,465 20,165 224 579,854 1,303,216 46,824 66,154 - 541 1,416,735 2022 2,789,907 - - 39,458 2,829,365 543,138 20,949 - 564,087 1,212,294 46,645 143,765 2,529,864 - 3,932,568 TOTAL TIF REVENUES 34,398,757 837,469 10,271,173 832,214 46,339,613 4,701,784 95,731 121,969 4,919,484 10,975,258 260,943 209,919 2,529,864 286,945 14,262,929 19,182,413 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 FY 2021 Total 14,918,553 - 1,715,968 6,065,586 1,177,133 2022-LAND 2,000 - - - - 2022-SH 26 749,208 - - - - 2022-PROFESSIONAL SERVICES 3,000 - - - - 2022-PROFESSIONAL SERVICES - NORTHERN GATEWAY 13,208 - - - - 2022-PROFESSIONAL SERVICES - COLLEYVILLE GATEWAY 1,128,886 - - - - 2022-CITY HALL - GOUNDS / IMPROVEMENTS 738,707 - - - - 2022-DOWNTOWN IMPROVEMENTS - VOA DUES 27,065 - - - - 2022-PROPERTY TAXES 54,604 - - - - 2022-RIVER WALK DRIVE-JUSTICE CENTER SITE IMPROVEMENT 103,708 - - - - 2022-TRANSFER TO OTHER FUND-BUDGET TRANSFER 194,318 - - - - 2022-STORM DRAINAGE MASTER PLAN 20,670 - - - - 2022-FIRE STATION - CENTRAL FIRE STATION RENOVATION 128,304 - - - - 2022-FIRE DEPARTMENT - HALL JOHNSON RENOVATION 205,900 - - - - 2022-RIVERWALK DRIVE 54,976 - - - - 2022-ROADWAY IMPROVEMENTS-GLADE ROAD ROW ACQUISITION - - - 8,161 - 2022-ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 - - - 45,367 - 2022-ROADWAY IMPROVEMENTS - GLADE ROAD PHASE11-CONST - - - 3,271,464 - 2022-ECONOMIC DEVELOPMENT GRANT - - - - 655,288 2022-TRAILS & PUBLIC AMENITIES - SMALL SEGMENT/TRAIL - - 166,834 - - 2022-ROADWAY IMPROVEMENTS-CHEEKSPARGER - - 5,475 - - TOTAL TIF EXPENDITURES 52,559,107 - - 2,777,377 16,509,147 - - - - 5,121,116 24,407,640 ORIGINAL PROJECT PLAN AMENDED PROJECT PLAN TIF RECONCILIATION 2013 - 2022 TAXABLE VALUE: GCISD County & Hospital County College City of Colleyville Colleyville TIF #1 TAX YEAR 2020 / FY 2021 TAXABLE VALUE $496,697,311 500,417,911 498,752,911 1998 BASE VALUE $75,593,230 75,779,230 75,821,735 INCREMENTAL VALUE INCREASE $421,104,081 $0 $424,638,681 422,931,176 Colleyville TIF #1A TAX YEAR 2020 / FY 2021 TAXABLE VALUE 47,094,175 46,792,175 2012 BASE VALUE 30,811,178 30,796,078 INCREMENTAL VALUE INCREASE $0 $16,282,997 15,996,097 NOTE: Taxable value can vary slightly for each taxing entity based on differing exemptions REVENUES: Tax Increment Revenues TIF #1 - CITY OF COLLEYVILLE (0.00280687 x TIF#1 incremental value)(0.00011091xTIF#1 incremental value)1,212,294 GRAPEVINE COLLEYVILLE ISD **(0.0091340 x TIF#1 incremental value 3,770,145 To reimburse GCSID 26% of 2021 (980,238) GRAPEVINE COLLEYVILLE ISD ***(0.74 x payment difference from 2021 M&O tax rate vs. 2005 M&O tax rate) TARRANT COUNTY COLLEGE DISTRICT 0.0013017 x TIF#1 incremental value 543,138 TARRANT COUNTY #CAPPED - TARRANT COUNTY HOSPITAL DISTRICT #CAPPED - TOTAL 4,545,339 Tax Increment Revenues TIF #1A - CITY OF COLLEYVILLE (0.00280687 x TIF#1 incremental value)(0.00011091xTIF#1 incremental value)46,645 TARRANT COUNTY COLLEGE DISTRICT (0.0013017 x TIF#1 incremental value)20,949 TOTAL TAX REVENUE 4,612,933 CITY OF COLLEYVILLE BUSINESS CENTER 42,322 TENENT RENT REVENUES 101,443 GRANT PROCEEDS 39,458 TRANSFER FROM CAPITAL PROJECT FUND 2,529,864 TOTAL NON-TAX REVENUE 2,713,088 TOTAL FUND REVENUE 7,326,021 *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 ENDING SEPTEMBER 30, 2022 (FY 2022) YEAR TO DATE SUMMARY - TIF FUND 2022 EXPENDITURES Original Project Plan- LAND 2,000 SH 26 749,208 PROFESSIONAL SERVICES 3,000 PROFESSIONAL SERVICES - NORTHERN GATEWAY 13,208 PROFESSIONAL SERVICES - COLLEYVILLE GATEWAYS 1,128,886 CITY HALL - GOUNDS / IMPROVEMENTS 738,707 PROPERTY TAXES 54,604 DOWNTOWN IMPROVEMENTS - VOA DUES 27,065 RIVER WALK DRIVE - JUSTICE CENTER SITE IMPROVEMENT 103,708 TRANSFER TO OTHER FUND-BUDGET TRANSFER 194,318 STORM DRAINAGE MASTER PLAN 20,670 FIRE STATION - CENTRAL FIRE STATION RENOVATION 128,304 FIRE DEPARTMENT-'HALL JOHNSON - RENOVATE 205,900 RIVERWALK DRIVE 54,976 Amended Project Plan- ROADWAY IMPROVEMENTS - GLADE ROAD DESIGN ROADWAY IMPROVEMENTS-GLADE ROAD ROW ACQUISITION 8,161 ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 45,367 ROADWAY IMPROVEMENTS - GLADE RD PHASE 11-CONST 3,271,464 ECONOMIC DEVELOPMENT GRANT 655,288 TRAILS & PUBLIC AMENITIES - SMALL SEGMENT SIDEWALK/TRAIL 166,834 ROADWAY IMPROVEMENTS- CHEEKSPARGER 5,475 TOTAL EXPENDITURES 7,577,143 CASH BALANCE: TOTAL TIF CASH AND INVESTMENTS AS OF 7/12/2022 2,086,050 YEAR TO DATE SUMMARY - TIF FUND 2022