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The purpose of this informal report is to provide background on an M&C staff will place on the
December 18'h agenda regarding transfer of certain Tax Increment Financing (TIF) funds allocated to the
funding of two Special Trust Fund positions.
ac ground
In 2004, City Council authorized the creation of two new positions in the Economic and Community
Development Department for TIF administration. City staff was directed to pursue initial funding from
the Fort Worth Local Development Corporation (LDC), until these positions could be funded solely from
tax increment allocated to TIF administrative expenses. For FY 2006-2007, two positions and operating
expenses were funded in part by the LDC, which authorized approval of a grant in the amount of
$5,000. For FY 2007-2008, two positions and operating expenses shall be funded solely from 5 percent
of the annual increment generated by the North Tarrant Parkway TIF, the Lancaster Corridor TIF and the
East Berry TIF. In accordance with that process, on November 19, 2007, the East Berry TIF Board
approved its 5 percent increment of $1,335 for TIF administration expenses. On December 5, 2007, the
Lancaster Corridor TIF Board approved its increment of $97,031 for TIF administration expenses. In
January, staff anticipates approval by the North Tarrant Parkway TIF Board for their 5 percent annual
administrative expenses, in the amount of $19,114. The sum total of the three amounts is $117,480.
Igecommendation 1h
The Economic and Community Development Department will place an M&C on the December 18
Council agenda for consideration to approve the transfer of $117,480 from the Special Assessment
District Fund to the Special Trust Fund to fund two authorized positions in the Economic and
Community Development Department responsible for TIF administration, along with an attached
appropriation ordinance.
ISSUED YT E CITY MANAGER
FORT WORTH, TEXAS