HomeMy WebLinkAboutTax Increment Finance (TIF)-Agenda Packets-1/18/2023City 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, January 18, 2023
12 Noon
Executive Conference Room
Third Floor, City Hall
1.CALL TO ORDER
2.PRESENTATION AND DISCUSSION
2a FY2022 Year End Update
3.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, January 13,
2023 by 5:00 p.m.
Angela Larson
Assistant 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 1/18/2023 Number
Type Presentation and Discussion
Department Finance
Title
FY2022 Year End Update
Explanation
Colleyville Finance Director Kyle Lester will provide a presentation and review the
attached information.
Attachments
1. TIF January 18, 2023 Presentation
2. TIF Annual Report
Annual Board Meeting
City of Colleyville TIF Board
January 18, 2023
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
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
2022 Taxable Value:$516,824,638
Incremental Value Increase:$441,002,903
2022 New Construction:$ 0
Expanded TIF Area Base Value:$30,796,078
2022 Taxable Value: $48,878,804
Incremental Value Increase:$18,082,726
2022 New Construction:$ 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
FY22 Revenues/Expenses
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
Nature Center Trail $1.7m (pursuing grant funding)2027 Completion
Robert’s Road $1m 2024 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 and Discussion
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 ***1,580,968
TARRANT COUNTY COLLEGE DISTRICT 0.0013017 x TIF#1 incremental value 543,138
TARRANT COUNTY #CAPPED -
TARRANT COUNTY HOSPITAL DISTRICT #CAPPED -
TOTAL 6,126,307
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 6,193,901
CITY OF COLLEYVILLE BUSINESS CENTER 55,693
TENENT RENT REVENUES 102,193
GRANT PROCEEDS 670,181
TRANSFER FROM CAPITAL PROJECT FUND 5,134,261
TOTAL NON-TAX REVENUE 5,962,329
TOTAL FUND REVENUE 12,156,230
*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)
(0.74 x payment difference from 2021 M&O tax rate vs. 2005 M&O tax
rate)
TIF ANNUAL REPORT - CITY OF COLLEYVILLE
FISCAL YEAR ENDING SEPTEMBER 30, 2022 (FY 2022)
EXPENDITURES
Original Project Plan-
LAND 2,000
SH 26 821,983
PROFESSIONAL SERVICES 6,600
PROFESSIONAL SERVICES - NORTHERN GATEWAY 13,208
PROFESSIONAL SERVICES - COLLEYVILLE GATEWAYS 2,177,682
CITY HALL - GOUNDS / IMPROVEMENTS 885,337
PROPERTY TAXES 62,459
DOWNTOWN IMPROVEMENTS - VOA DUES 34,948
RIVER WALK DRIVE - JUSTICE CENTER SITE IMPROVEMENT 127,417
TRANSFER TO OTHER FUND-BUDGET TRANSFER 194,318
STORM DRAINAGE MASTER PLAN 26,415
FIRE STATION - CENTRAL FIRE STATION RENOVATION 206,086
FIRE DEPARTMENT-'HALL JOHNSON - RENOVATE 213,600
RIVERWALK DRIVE 74,503
ROUNDABOUT-HALL JOHNSON & BOGART 9,646
Amended Project Plan-
ROADWAY IMPROVEMENTS-GLADE ROAD ROW ACQUISITION 8,161
ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 59,221
ROADWAY IMPROVEMENTS - GLADE RD PHASE 11-CONST 5,791,493
ECONOMIC DEVELOPMENT GRANT 1,173,862
TRAILS & PUBLIC AMENITIES - SMALL SEGMENT SIDEWALK/TRAIL 166,834
ROADWAY IMPROVEMENTS- CHEEKSPARGER 5,475
TOTAL EXPENDITURES 12,061,249
CASH BALANCE:
TOTAL TIF CASH AND INVESTMENTS AS OF 9/30/2022 857,674
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
Grant / Federal
Proceeds
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 10,000,000 121,997 14,594,524 559,465 20,165 224 579,854 1,303,216 46,824 66,154 670,759 - 541 2,087,494
2022 4,370,875 - - 39,458 4,410,332 543,138 20,949 - 564,087 1,212,294 46,645 157,887 630,723 5,134,261 - 7,181,811
TOTAL TIF REVENUES 35,979,725 837,469 10,271,173 161,455 47,249,822 4,701,784 95,731 121,969 4,919,484 10,975,258 260,943 224,041 1,301,482 5,134,261 286,945 18,182,930 23,102,414
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 26 821,983 - - - -
2022-PROFESSIONAL SERVICES 6,600 - - - -
2022-PROFESSIONAL SERVICES - NORTHERN GATEWAY 13,208 - - - -
2022-PROFESSIONAL SERVICES - COLLEYVILLE GATEWAY 2,177,682 - - - -
2022-CITY HALL - GOUNDS / IMPROVEMENTS 885,337 - - - -
2022-DOWNTOWN IMPROVEMENTS - VOA DUES 34,948 - - - -
2022-PROPERTY TAXES 62,459 - - - -
2022-RIVER WALK DRIVE-JUSTICE CENTER SITE IMPROVEMENT 127,417 - - - -
2022-TRANSFER TO OTHER FUND-BUDGET TRANSFER 194,318 - - - -
2022-STORM DRAINAGE MASTER PLAN 26,415 - - - -
2022-FIRE STATION - CENTRAL FIRE STATION RENOVATION 206,086 - - - -
2022-FIRE DEPARTMENT - HALL JOHNSON RENOVATION 213,600 - - - -
2022-RIVERWALK DRIVE 74,503 - - - -
2022-ROUNDABOUT-HALL JOHNSON & BOGART 9,646
2022-ROADWAY IMPROVEMENTS-GLADE ROAD ROW ACQUISITION - - - 8,161 -
2022-ROADWAY IMPROVEMENTS - GLADE RD DESIGN PHASE 2,3,4 - - - 59,221 -
2022-ROADWAY IMPROVEMENTS - GLADE ROAD PHASE11-CONST - - - 5,791,493 -
2022-ECONOMIC DEVELOPMENT GRANT - - - - 1,173,862
2022-TRAILS & PUBLIC AMENITIES - SMALL SEGMENT/TRAIL - - 166,834 - -
2022-ROADWAY IMPROVEMENTS-CHEEKSPARGER - - 5,475 - -
TOTAL TIF EXPENDITURES 53,990,755 - - 2,777,377 19,043,030 - - - - 5,639,690 27,460,097
ORIGINAL PROJECT PLAN AMENDED PROJECT PLAN
TIF RECONCILIATION
2013 - 2022
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 $338,174 $1,221,295 $1,559,469
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$
City Hall/Library Fountain Improvements $380,000 $0 $0 $0 $0 -$ 380,000$
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$
Stormwater Master Plan $155,000 $0 $0 $0 $0 -$ 155,000$
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:$2,055,000 $0 $2,025,694 $4,275,000 $0 $6,300,694 $8,355,694
(+) 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 $2,619,605 ($1,017,200)$1,602,405
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
(+) 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 $1,995,975 ($173,996)$1,821,978
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
(+) 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 $2,019,553 ($1,412,847)$606,706
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
(+) 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
TIF Capital Improvement Plan (as presented to Council 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 $2,780,431 -$600,000 $0 $0 $0 $111,937 $2,892,368
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
(+) 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 $3,187,375 $1,102,262 $4,289,637
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 $17,297,971 -$1,800,000 $0 $0 $0 $524,363 $17,822,334