HomeMy WebLinkAbout19-2837S :\Legal\Our Documents\Resolutions\19\2018-19 Annual Report Resolution .doc
RESOLUTION NO. 19-2837
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DENTON, APPROVING THE
2018/2019 TAX INCREMENT REINVESTMENT ZONE NUMBER TWO (WESTPARK
TIRZ) ANNUAL REPORT; AND DECLARING AN EFFECTIVE DATE.
WHEREAS, the City of Denton recognizes the importance of its role in local economic
development initiatives and programs; and
WHEREAS, the City has established Tax Increment Reinvestment Zone Number Two
(Westpark TIRZ) and established a Board of Directors for the District to promote development
or redevelopment in the industrial area pursuant to Ordinance No. 2012-366, authorized by the
City Council on December 18, 201 2, as provided by the Tax Increment Financing Act, Chapter
311 ofthe Texas Tax Code, as amended; and
WHEREAS, on February 5, 2013, the City Council adopted Ordinance 2013-033
accepting an Agreement with Denton County to participate in TIRZ Number Two; and
WHEREAS, the Tax Increment Financing Act specifies that the governing body of a city
shall submit an annual report on the financial status of the district to the Chief Executive Officer
of each taxing unit that levies taxes on real property in a reinvestment zone, and a copy of the
report shall be forwarded to the State Comptroller; and
WHEREAS, the Westpark TIRZ District Board reviewed and recommended approval of
the 2018/2019 Annual Report for Tax Increment Financing Reinvestment Zone Number Two to
the City Council; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES:
SECTION 1. That the 2018/2019 Annual Report for Tax Increment Reinvestment Zone
Number Two (Westpark TIRZ), City ofDenton, a copy of which is attached here to as Exhibit A,
is hereby accepted .
SECTION 2. That the City Manager, or his designee, is hereby authorized to submit the
2018/2019 Annual Report for Tax Increment Financing Reinvestment Zone Number Two to the
Chief Executive Officer of each taxing jurisdiction that levies tax on real property in the District;
and to the State Comptroller, as required by state law.
SECTION 3. This resolution shall take effect immediately from and after its passage in
accordance with the provisions of the Charter of the City of Denton, and it is accordingly so
resolved.
S:\Legal\Our Documents\Resolutions\19\2 018-19 Annual Report Resolution.doc
The motion to approve this resolution was made by /(r;t;t V J~t?!GGG and
seconded by J E.SSE;.J)fJ v 1 S , the resolution was passed and approved by
the following vote ~-_QJ :
Aye Nay Abst ain Absent
Mayor Chris Watts:
Gerard Hudspeth, District 1 : J
Keely G. Briggs, District 2: J
Jesse Davis, District 3:
John Ryan, District 4: .)
Deb Armintor, At Large Place 5:
Paul Meltzer, At Large Place 6:
PASSED AND APPROVED this the ;/5M. day of J~ , 2020.
ATTEST:
ROSA z SECRETARY
BY:, ~ ~
(;:;>
APPROVED AS TO LEGAL FORM:
CA"UJ&
CHRIS WATTS, MAYOR
''
S:\Legal\Our Documents\Resolutions\19\2018-19 Annual Report Resolution.doc
EXHffiiTA
2018/2019 Annual Report for
Tax Increment Reinvestment Zone Number Two (Westpark TIRZ)
City ofDenton, Texas
Tax Increment Reinvestment Zone Number Two
(W estpark TIRZ)
2018/2019 Annual Report
City of Denton
Economic Development Department
215 E. McKinney Street
Denton, Texas 76201
940-349-7776
www.dentonedp.com
October 1, 2018 to September 30, 2019
Table of Contents
Map ............................................................................................................................................ l
Mission Statement .................................................................................................................... 2
Background and Purpose ........................................................................................................ 2
Participating Jurisdictions .......................................................................................................... 3
District History and Accomplishments .................................................................................. 3
Summary of TIRZ Board Meetings ....................................................................................... 4
Budget and Project Status ....................................................................................................... 6
Project Defini tions ..................................................................................................................... 6
Revenues .................................................................................................................................... 7
Expenditures .............................................................................................................................. 8
2017/2018 Work Program ....................................................................................................... 9
Appendices .............................................................................................................................. 12
Appendix A: TIRZ Two Balance Sheet.. ................................................................................. 13
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page ii
Tax Increment Reinvestment Zone Number Two
JIM CHRIS TAL
t1 1s map rs a graphic repre5e r~ <00 prepared by the C1ty of
Denton all() 1s •n tended for use only as a rererence Dala
deptCteclts not uatan d for accuracy and may be u 1 t
to revrSIOn at any t1me without not f on A R g~t ed
SUI'II yor for State of Texas was not con ed For
SUI'IIey lellf!f accurscy uperv oo ano ~ 1 tJOn ct ltle
pmdi!Ced d ra by a Reg : a Prole$StO nal nd Surveyor
lor the Stale ol "!: a& would to be perfoiTT'Ied
0 412 .5825 1,650 2.475 3.300
~~~ .... -===~ .... •Fut
Legend
TIRZ BOJnd
Property Description
GCHem
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report
--
Page 1
Mission Statement
The mission of the Tax Increment Reinvestment Zone (TIRZ) Number Two is to provide a
source of funding for public infrastructure improvements to encourage and accelerate necessary
development within the largest industrially zoned area within the City.
Background and Purpose
Tax increment financing originated as a tool for governments to publicly finance needed
improvements and enhance infrastructure within a defined area in order to stimulate private
development and redevelopment. A TIRZ is a defined area where public infrastructure
improvements are deemed necessary to promote development. The costs of the improvements to
the area are repaid by the contribution of future tax revenues. Specifically, each taxing entity
may choose to dedicate all , a portion , or none of the tax revenue that is attributable to the
increase in property values. The additional tax revenue that is received from the affected
properties is referred to as the tax increment. An ad valorem valuation base is established the
first year, and the revenue from the increased valuation from subsequent years is allocated into a
TIRZ fund to support development projects.
On December 17 , 2012, the City Council adopted Ordinance No. 2012-366 designating and
describing the boundaries of Tax Increment Reinvestment Zone Number Two for an industrial
district of Denton, Texas ; establishing the duration of the Zone; establishing a Tax Increment
Fund; and establishing a Board of Dire ctors for the Tax Increment Reinvestment Zone. The
City 's second TIRZ consists of approximately 800 acres and is located north of Airport Road.
This industrial area (Westpark) lacks the public infrastructure necessary to encourage
development.
The Westpark TIRZ took effect on January 1, 2013 , and will terminate on December 31,2036, or
the date when all project costs are paid and any debt is ret ired , whichever comes first. It is
estimated that the TIRZ would generate approximately $14.3 million over a 25 year period for
infrastructure improvements. The City and Denton County will contribute $1 0 million and $4.2
million into the TIRZ fund, respectively. According to the Finance Plan , the City would retain
$43.9 million and the County would retain $18.8 million of real and business personal property
revenue over the life of the TIRZ.
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page 2
Participating Jurisdictions
T bl 1 TIRZ T P rf . f J . d' f I I -
21118 /19 Ta:\ Rate
.Jurisdiction Yl':I J'S S/S IOO Value
City of Denton l-10 0.620477*
ll-25 0.71975**
Denton County 1-10 0 .225574
11-25 0.312867**
*Inception rate was 0. 68975 for the City and .282867 for the County
**Denotes estimate
l'crccnl of Ta\.
l~atc
40
40
40
40
The TIRZ board is comprised of fourteen members. The City Council is responsible for
appointing twelve members and designating the board Chair. The governing body of Denton
County, which levies taxes on real property in TIRZ Number Two, has appointed one board
member. Westray Group L.P, the developer, has also appointed a single board representative.
District History and Accomplishments
This is the seventh year of the Westpark TIRZ. The report period includes October 1, 20 18
through September 30, 2019. During Fiscal Year 2018/2019, $178 ,812 was collected for the
City's portion based on the last supplemental valuation of the calendar year from the Denton
Central Appraisal District (DCAD). The City 's and County's contribution in the TIRZ fund for
2018/2019 was $178,812 and $65,007, respectively. An additional $8,885 in interest was earned
for the period, bringing the total 2018/2019 contribution to $252,704.
The Denton City Council adopted an Ordinance accepting an Agreement with Denton County to
participate in Tax Increment Reinvestment Zone Number Two; authorizing the City Manager to
execute the Agreement on February 5, 2013. On February 12 , 2013 , the board for TIRZ Two was
appointed by City Council. Economic Development staff coordinated with multiple City
departments, the developer, and legal counsel to develop a Reimbursement/Developer
Agreement with the developer. The Agreement was approved by the Denton City Council on
May 13, 2014 , through Ordinance No. 2014-142.
On August 23 , 20 16, the Denton City Council approved the addition of a seat to the Economic
Development Partnership (EDP) board for the Texas Woman 's University President and
Chancellor. The adoption of Ordinance No. 2016-249 brought the EDP board membership to
twelve total.
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page 3
On November 8, 2016, the following changes were made to the TIRZ Number Two board
Ordinance Nos. 20 12-366, 2014-039 and 2015-370, through Ordinance 2016-354, to establish a
TIRZ Number Two board composition that incorporates the current EDP Board:
The Board of Directors shall consist of fourteen (14) members, twelve (12) of whom shall be
appointed by the City Council of the City. All members appointed to the board shall meet the
eligibility requirements set forth in the Act. Board membership shall consist of the following:
• The twelve members of the Economic Development Partnership Board;
• One member shall be appointed by the governing body of Denton County; and
• One member shall be appointed by the "Developer," Rayzor Investments ,
LLP.
The terms of the board members shall be two-year terms; the twelve (12) members appointed by
City Council will serve terms concurrent with their EDP terms. A board member may serve no
more than three consecutive terms.
On April 16, 2019, Denton City Council adopted Ordinance 19-635 revising the Bylaws of Tax
Increment Reinvestment Zone Number Two to ensure that the Bylaws were in accordance with
the adopted TIRZ and EDP ordinances and to clarifiy the amendment to the Bylaws process.
Summary of TIRZ Two Board Meetings
The Westpark TIRZ Board recommended approval ofthe 2017/2018 Annual Report on February
13 , 2019. The board also recommended changes to the TIRZ Bylaws to ensure that the Bylaws
were in accordance with the adopted TIRZ and EDP ordinances and clarified the amendment to
the Bylaws process. The board received reports on the industrial development in the zone and a
Second Amendment to the Reimbursement Agreement between the City of Denton, the Board of
Directors of TIRZ Number Two and Westray Group , LP. An interdepartmental team has had
input on the draft and addressed roadway impact fees, oversize utility cost participation
agreements, easements, traffic impact studies, rail improvements , drainage issues, and the
proportionality of the multi-family development in the zone.
The culmination of developer and interdepartmental meetings and edits has led to a draft
amendment would modify the phases for public improvements, provide the most current
probable construction costs, address rail improvements, and adds additional phases, which more
closely align with how the zone has developed.
Tax Increment Reinvestment Zone Number Two 2018/2019 Annua l Report Page4
The Board member attendance is presented below.
Table 2 : Board Member Attendance
;\kmhl·r Company/ Aflilia I ion Prl'Sl"DI 2/13 /IIJ
Alex Payne Denton County X
Tony Clark Independent Bank
Keely Briggs City of Denton Council Member X
Bob Eames Eames Law Group X
Jimmy Mejia LaAzteca X
Jesse Davis currently) City of Denton Council Member
Chris Davis Peterbilt X
John Baines John E. Baines PC CPAs
Steve Edgar Medical City Denton X
Jill Jester Minor and Jeter, P.C. X
Marty Rivers First State Bank X
Carine Feyten/Jason Tomlinson* Texas Woman's University
Neal Smatresk!Pamela Padilla * Univ ersity of North Texas
Selwyn Rayzor Rayzor Investments X
Ex-Oflicin 1\Iem her Corn pany/ A fliliation l'rcwnt 2/13 /1 ()
Todd Hileman City Manager of Denton
Vacant at time (Erica Pangburn) Denton Chamber of Commerce X
Jamie Wilson Denton Independent School District
*Indrcates Proxy
The following members were added to the TIRZ board on August 21, 2018: Chris Davis, Plant
Manager at Peterbilt, replaced Jim Fykes, who has retired from Peterbilt. Tony Clark, Regional
CEO at Independent Bank Group, replaced Carrell Ann Simmons, who has reached her term
limit.
During 2018/2019, the TIRZ Board received reports and took action on the following items:
1. Recommended approval of the 2017/2018 Annual Report for Tax Increment
Reinvestment Zone Number Two to City Council
2. Recommend approval regarding changes to the Bylaws of Tax Increment Reinvestment
Zone Number Two (Westpark TIRZ).
3. Received reports on the following:
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page 5
a. A proposed Second Amendment to the Reimbursement Agreement between the
City of Denton, the Board of Directors of the TIRZ Number Two, the City of
Denton, Texas, and Westray Group, LP.
Industrial development in the zone update
b. Approved the minutes ofthe February 14, 2018 meeting.
Budget and Project Status
The Westpark TIRZ district has established in its Project and Finance Plans a budget for public
improvement expenditures necessary to support public infrastructure and private investment in
the district. Table 3, which follows, provides the TIRZ projects and estimated costs.
$8 ,000 ,000
$5 ,000 ,000
$1 4 ,275 ,43 0
Project Definitions
Street Improvements: includes the construction and reconstruction of paving improvements
capable of handling heavy truck traffic and that provide common turning radius for semi trailers
and may consist of, but are not limited to, primary and secondary major arterial thoroughfares
and collector streets that will provide improved access within the industrial park, to State
highways, and Interstate 35.
Utilities and Drainage: includes the extension of water and wastewater lines along the right-of-
way of the streets within the District. Water and wastewater lines will be built to adequately
accommodate the District at build-out and its anticipated industrial users.
A number of properties in the district are situated in the floodplain . Adequate stormwater
drainage will be built to accommodate the maximum use of the land and comply with the
drainage standards in the Denton Development Code.
Industrial Projects: may include grants, loans and services for public and private development.
Eligible TIRZ project costs are not limited to public uses and may also include proj ects that
stimulate economic development. Chapter 380 of the Local Government Code grants
municipalities in Texas the authority to offer grants and loans of public funds to stimulate
economic development.
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page6
Revenues
According to Denton Central Appraisal District (DCAD) supplemental valuation figures, the
2018/2019 total appraised valuation of taxable real property in TIRZ Number Two was
$72,165,650. This is a $72,046 ,192 increase from the 2012 base value of $119,458. The
valuation and contribution into the TIRZ fund is illustrated in the tables below.
T bl 4 C' C 'fi d d S I I TIRZT VI f S
Ct>rtifie1l Suppll•mental lm·remenlal . \tl ju,ll·d .\nnual
"IIRZ .\d T :n \ear TmZ T :n TlliZ T:n llllTl':t Sl' Contribution I nr n·nu.•nt al Yalnrem \'aluc \'aluc * ( l>l'l' rea Sl ') \';lhll' Re\enue
2013 119,458 119,458 N/A N/A N/A N/A
2014 566,436 555,807 436,349 40% 174,540 1,204
2015 120 ,538 120,538 1,08 0 40% 432 3
2016 2,401,349 2,401,349 2,281,891 40% 912,756 6,237
2017 63,108,366 63,108,366 62,988,908 40% 25,195,563 160,711
2018 68,549,662 72,165,650 72,046,192 40% 28,818,477 178,812
Totals $346,9 67
T bl 5 C c 'fi d d s I I I TIRZT V I s
lncn·mental ,\djusted .\nnual
Ta\ Ye ar Cerlifil•d Suppll'llll'ntal lnlTea s c Cuntrihulion lncn•menlal TIRZ ,\d
Ta\ \ ahll' Ta\ \'allll''' ( lll•fl'easc) \'alue \·a In n•m
Re\ l'IIIIC
2013 119,458 119,458 N/A N/A N/A N/A
2014 566 ,4 36 24 1 '101 121 ,643 40% 48,657 132
2015 120,538 120,538 1,080 40% 432 1
2016 2,401,349 2,401,349 2,281,891 40% 912,756 2,267
2017 63,108 ,3 66 63 ,108,366 62,98 8,908 40% 2 5,195 563 59 ,9 18
2018 6 8,549 ,6 62 72,165 ,650 72 ,04 6,192 40% 28,81 8,4 77 65 ,007
Totals $127,325
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page7
*Tax Year 2014-City uses Supplement #18 dated 12123114 and County uses Supplement #20 dated 1130/2015.
**Tax Year 2016 includes interest earned through 12 /31 .
Total Fund Balance at 9130118 is $286,819
The 800-acre Westpark TIRZ is adjacent to the Denton Airport Business Park. Currently, a
significant portion of the land within the TIRZ boundary has an agricultural exemption. While
the net taxable value, after the agricultural exemption, is $68,549,662 the market value of the
district is $88,298,796. Once the property is sold and developed, the exemption will be removed
and the valuation will more accurately reflect the market value of the land.
Expenditures
TIRZ expenditures in 2018/2019 amounted to $198,991. This is the first year of the agreement for
WinCo Foods. Under the Chapter 380 Agreement, WinCo Foods will pay 100% of the property taxes
owed to the City and County and will receive a grant equal to 40% of the contribution of the City and
County into the Tax Increment Fund (land and improvements) from the distribution center. Both
entities participate in TIRZ No. Two at a rate of 40%. Business personal property (equipment) is not
included in the TIRZ contribution.
WinCo will receive 40% of the ad valorem tax contribution (land and improvements) into the
Tax Increment Fund from the City and Denton County, 60% of the City's portion of the ad
valorem by the project (excluding land, inventory, vehicles and supplies) until the construction
costs for Phase I public improvements have been reimbursed.
The Agreement thresholds require a minimum valuation of $50 million in real property
improvements and business personal property value. Since WinCo Foods met their threshold
requirements, they received ad valorem grant payments equal to:
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page 8
• 40% of the ad valorem tax contribution (land and improvements) into the Tax Increment
Fund from the City and Denton County in the amount of $198 ,991 , and
• 60% of the eligible amount of the real and personal property ad valorem taxes paid to the
City (excluding land, inventory , vehicles and supplies) in the amount of$288 ,477.
2018/2019 Work Program
The First Amendment to the Reimbursement Agreement was made in order to accommodate
WinCo Foods, a company that acquired approximately 77 acres in the Westpark Tax Increment
Reinvestment Zone Number Two.
WinCo Foods agreed to execute Phase I of the Reimbursement Agreement and was awarded an
economic incentive to reimburse the improvements. The 800,000 square foot distribution facility
is located on the west side of Western Boulevard, north of Airport Road. WinCo Foods is a
regional retailer with multiple distribution facilities across the United States. The project
received a Certificate of Occupancy in January 2017 and will eventually create 165 jobs with an
annual payroll of around $7.2 million.
The terms of the grant agreement end when full reimbursement has occurred, and include the
following forms of reimbursement: up to $1 million for water lines, utilizing the City's Water
Development Plan Line Fund; up to $865,000 in reimbursement for the sewer lines, utilizing the
City 's Wastewater Development Plan Line Fund; 100% of the Sales and Use Tax for
construction materials, furniture, fixtures, and equipment for the construction of the project;
100% of the tax increment collected in the TIRZ Number Two fund associated directly w ith the
project, until full reimbursement occurs. The contribution includes the City's 40% contribution
to the TIRZ fund annually. The City 's remaining 60% of ad valorem revenue will also be utilized
until full reimbursement occurs. It is anticipated that full reimbursement will occur in
approximately eight to ten years. The first year after full reimbursement, the second term of the
grant agreement shall commence, and will include the following: a 60% rebate of the City's ad
valorem revenue for a period of four years.
Reimbursements for the utility Development Plan Line Fund and sales and use tax grant for
construction have been processed. WinCo foods received a Certificate of Occupancy (CO) on
January 18, 2017. According to the incentive Agreement, the ad valorem and TIRZ grants will
commence the first year following receipt by grantee of a CO for the facility, so the TIRZ Two
grant initiated in 2018.
T he board also received a report on a Second Amendment to the Reimbursement Agreement
between the City of Denton, the Board of Directors of the Tax Increment Reinvestment Zone
Number Two and Westray Group, LP. The proposed amendment would provide the most current
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page9
probable construction costs; address rail improvements; and modify and add additional phases,
which more closely align with how the zone has developed .
The draft amendment required a coordinated interdepartmental response involving Engineering,
Development Services, Building Inspections, Right of Way, Legal, and multiple utility
departments. Numerous meetings were held with various departments throughout the year to
address new roadway impact fees, oversize utility cost participation agreements, easements,
traffic impact studies, rail improvements, drainage issues, and the proportionality of the multi-
family development, which is not an eligible cost under the Project Plan, for the zone.
On February 2, 2018, United States Cold Storage (USCS) closed on a 40-acre site on Jim
Christal Road east of Western Boulevard in the Westpark Tax Increment Reinvestment Zone
(TIRZ). USCS plans to offer storage, re-pack, and case pick, distribution and transportation
solutions for production facilities in the United States and Mexico. Preliminary plans provide for
rail service, export services to Mexico, cooler and freezer storage, and on-site customer offices.
uses estimates that it will invest $34 million in the project, which will create approximately
$28 million in new ad valorem value in Denton. The estimated electric demand is 1.5 megawatts
annually, which will make USCS a Top 25 customer for DME. The company plans to create 67
new jobs by Year 3 of operations with an average salary of $36,07 4.
uses received a grant of a 50% cost share of the sales and use taxes (up to $70,000) for the
construction of their new distribution facility on a 40 acre site in the Westpark TIRZ .
The location of this project will necessitate Phase II of the Westpark TIRZ improvements, which
generally consist of water and wastewater line extension and improvements, drainage
improvements, and road reconstruction, all along Jim Christal Road and West Oak Street.
In 2019, Tyson Sales and Distribution received an abatement of 25% of their business personal
property only (which does not go into the TIRZ) for 6 years. The Company provides
refrigerated warehousing and distribution services to the Tyson Foods, Inc. companies. Tyson
had $38 billion in sales in FY 2017 and employs 122,000. The company will construct 350,000+
square foot highly automated refrigerated distribution center next to USCS. The facility will
contain automated storage and retrieval systems, including stacker cranes, gantry robots for
layer picking, pallet conveyors and transfer cars, and a monorail. It is expected to ship 700
million pounds of product annually from the facility. The facility will have about a 2 megawatt
annual electric demand which wi ll add another Top 25 customers for DME. It will employ 100
on a full-time basis with hourly wages ranging from $20 to $45. The grantee is required to
create 95 jobs with an average hourly wage of $23.58. A $25.5 million business personal
property valuation threshold is required in year one. The business personal property valuation
thresholds are tiered based on the Denton Central Appraisal District's depreciation schedule.
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page 10
Three projects, which will total three million square feet, are currently in the land acquisition
phase in the zone. The first phase of the Retreat at Denton II, a multi-family development, has
been constructed. The project includes 193 units on 21.9 acres in the southern section of the
zone . This project has accelerated a portion of the Phase III improvements along Precision Drive.
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page 11
Appendix A:
TIRZ Two (Westpark)
Balance Sheet
Tax Increment Reinvestment Zone Number Two 2018/2019 Annual Report Page 12
CITY OF DENTON
TAX INCREMENT FINANCING REINVESTMENT ZONE (TIRZ) NUMBER TWO WESTPARK
ACTUAL REVENUE
!City of Denton I
Incremental Adjusted AnnuaiTIRZ
Certified Tax Increase Incremental Ad Valorem Fiscal Year as Supplements
Tax Yea r Value {Decrease) Contribution Va lue Tax Rate Revenue of9/30 I Tax Value·
2013 $ 119,458 N/A N/A N/A N/A 2013-2014 $ 119,458
2014 566,436 446 ,978 40% 178,791 0 .68975% 2,500 2014-2015 555,807
2015 120,538 1,080 40% 432 0 .68975% 3 2015-2016 120 ,538
20 16 2,401 .349 2,281,891 40% 912,756 0 .68334% 6,237 2016-2017 2 ,401,349
2017 63 ,108,366 62 ,988,908 40% 25 ,195,563 0 .637856 % 160,711 2017-2018 63 ,108,366
2018 68 ,549 ,662 68,430 ,204 40% 27 ,372,082 0 .620477 % 169 837 2018-2019 72 ,165,650
Totals $ 339,288
!Dento n County I ----
Incremental Adjusted AnnuaiTIRZ
Certified Tax Increase Incremental Ad Valorem Fiscal Year as Supplements
Tax Year Value !Decreasel Contrib ution Va lue Tax Rate Revenue of9/30 I Tax Value·
2013 $ 119,458 N/A N/A N/A N/A 2013-2014 $ 119,458
2014 566,436 446,978 40% 178,791 0.27220% 583 2014-2015 241,101
2015 120,538 1,080 40% 432 0.26200% 1 2015-2016 120,538
2016 2,401,349 2,281,891 40% 912,756 0 .24841 % 2,267 2016-2017 2,401,349
2017 63,108 ,366 62,988 ,908 40% 25 ,195,563 0.23781 % 59,918 2017-2018 63 ,108,366
2018 68,549 ,662 68,430 ,204 40% 27 ,372 ,082 0 .22557% 61 744 2018-2019 72 ,165,650
Totals $ 124,513
!Total I
Incremental Adjusted Annuai TIRZ
Cer1111edTax lncraaae Incremental Combined Ad Valorem Fiscal Year as Supplements
Tax Year Value Contribution Value Tax Rate Revenue of9130 I Tax Value
2013 $ 119,458 N/A N/A N/A N/A 2013-2014 $ 119,458
2014 566,436 446 ,978 40% 178,791 0 .961950% 3,083 2014-2015 555,807
2015 120,538 1,080 40% 432 0 .951750% 4 2015-2016 120,538
2016 2,401,349 2 ,281,891 40% 912,756 0 .931749% 8 ,504 2016-2017 2,401 ,349
2017 63,108,366 62,988,908 40% 25,195,563 0 .875668% 220 ,629 2017-20 18 63 ,108,366
2018 68 ,549,662 68,430 ,204 40% 27,372 ,082 0 .846051 % 231,582 2018-2019 72,165 ,650
Totals $ 463 ,802
• Tax Year 2014-City uses Supplement #18 dated 12123/14 and County uses Supplement #20 dated 1/30/2015.
**Fund Balance as of 9/30/2019 is $286 ,819
--
Incremental Adjusted TIRZAd
Increase Incremental Valorem
!Decreasel Contribution Value Tax Rate Revenue
N/A N/A N/A N/A
436 ,349 40% 174,540 0.68975% 1,204
1,080 40% 432 0.68975% 3
2.281,891 40% 912 ,756 0.68334% 6,237
62 ,988,908 40% 25 ,195,563 0 .637856% 160,711
72 ,046,192 40% 28 ,818,477 0.620477% 178,812
$ 346,967
----
Incremental Adjusted TIRZAd
Increase Incremental Valorem
(Decrease) Contribution Value Tax Rate Revenue
N/A N/A N/A N/A
121,643 40% 48,657 0.27220% 132
1,080 40% 432 0.26200% 1
2,281,891 40% 912 ,756 0.24841 % 2,267
62 ,988,908 40% 25 ,195,563 0.23781 % 59,918
72 ,046,192 40% 28 ,818,477 0 .22557% 65,007
$ 127,325
Incremental Adj usted TIRZ Ad
tncr-Incremental Combined Valorem l lnlere8t Total Total Fund
e Contribution Value Tax Rate Revenue Ravenue Expendltu!!a Balance"" Income
N/A N/A N/A N/A N/A N/A N/A N/A
436,349 40% 174,540 0.961950% 1,336 7 1,343 1,343
1,080 40% 432 0.951750% 4 10 14 14
2,281,891 40% 912,756 0.931749% 8,505 81 8,586 8,586
62 ,988,908 40% 25 ,195,563 0.875668% 220,629 2,534 223,163 223 ,163
72 ,046 ,192 40% 28 ,818 ,477 0.846051 % 243 ,819 8,885 252,704 198,991 53,713
$ 474,293 $11 ,517 $485,810 $ 198,991 $286,819