HomeMy WebLinkAbout(0096) M&C 19-0252City of Fort Worth, Texas
Mayor and Council Communication
DATE: 10/15/19 M&C FILE NUMBER: M&C 19-0252
LOG NAME: 17TIF ALLOCATION FY20
SUBJECT
Adopt Supplemental Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the Various Tax Increment Funds in the Total
Amount of $87,518,746.00 for Fiscal Year 2020 (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached supplemental appropriation ordinance increasing estimated receipts and
appropriations in the various Tax Increment Funds in the total amount of $87,518,746.00 for Fiscal Year 2020.
DISCUSSION:
The purpose of this Mayor and Council Communication is to establish the Fiscal Year 2020 appropriations in the various Tax Increment Funds in
the amount of $87,518,746.00.
The City of Fort Worth's Fiscal Year 2020 Appropriation Ordinance adopting the City's Fiscal Year 2020 operating and capital budget does not
include appropriations for the Tax Increment Funds, which are adopted under a separate process.
Tax Increment Funds are used to manage funds that have been designated by the City and other taxing entities participating in each of the City's
Tax Increment Reinvestment Zones (TIFs), in accordance with the Tax Increment Financing Act, Chapter 311 Texas Tax Code. The TIF funds are
used for economic development and redevelopment projects within the boundaries of each of theTIFs in accordance with each TIF's project and
financing plan and the Tax Increment Financing Act, which authorizes the City to maintain the funds.
This M&C appropriates all available fund balance plus anticipated revenue in Fiscal Year 2020 to be administered by the respective TIF Boards in
compliance with their Council approved TIF Project and Financing Plans.
The funding allocation per TIF is outlined in the following table:
Fund Appropriation
TIF Fund — Zone No. 2A - Texas Motor Speedway
(28721) $2,145,985.00
TIF Fund — Zone No. 213 - Texas Motor Speedway
(28722) $2,190,086.00
TIF Fund — Zone No. 3 — Downtown (28603) $13,268,830.00
TIF Fund — Zone No. 3A — Downtown (28730) $5,357,759.00
TIF Fund — Zone No. 4 - Southside Medical District $16,574,868.00
(28604)
TIF Fund — Zone No. 6 — Riverfront (28606) $185,042.00
TIF Fund —Zone No. 7 - North Tarrant Pkwy (28607) $8,363,932.00
TIF Fund — Zone No. 7A - North Tarrant Pkwy (28770) $283,226.00
TIF Fund — Zone No. 8 — Lancaster (28608) $17,117,812.00
TIF Fund —
Zone No. 9 - Trinity River Vision (28609)
$5,317,216.00
TIF Fund —
Zone No. 9A - Trinity River Vision (28790)
$80,074.00
TIF Fund —
Zone No. 10 - Lone Star (28610)
$949,056.00
TIF Fund —
Zone No. 10A - Lone Star (28710)
$124,436.00
TIF Fund —
Zone No. 12 - East Berry Renaissance
$2,228,495.00
(28612)
TIF Fund —
Zone No. 13 — Woodhaven (28613)
$7,371,573.00
TIF Fund —
Zone No. 14 - Trinity Lakes (28614)
$5,264,195.00
TIF Fund —
Zone No. 15 - Stockyards/Northside (28615)
$696,161.00
A Form 1295 is not required because: This M&C does not request approval of a contract with
a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that upon adoption of the above recommendation and the supplemental appropriation ordinance, funds will be
available in the Fiscal Year 2020 operating budget, as appropriated, to the TIF Funds.
Submitted for City Manager's Office bT.
Jay Chapa 5804
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Robert Sturns 2663