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M&C Review
Official site of the City of Fort Worth, Texas
CITY COUNCIL AGENDA FORT
DATE: 12/15/2020 REFERENCE M&C 20- LOG NAME: 17TRINITYLAKESTIFAGREEMENT
NO.: 0939
CODE: C TYPE: NON- PUBLIC NO
CONSENT HEARING:
SUBJECT: (CD 5) Authorize Execution of a Tax Increment Financing Development Agreement with
the Tax Increment Reinvestment Zone Number Fourteen (Trinity Lakes) to
Fund Construction of Infrastructure Improvements Along Trinity Boulevard in an Amount
Up to $18,500,000.00, Plus Interest
RECOMMENDATION:
It is recommended that the City Council authorize the execution of a Tax Increment Financing
Development Agreement with Tax Increment Reinvestment Zone Number Fourteen (Trinity Lakes) to
fund construction of infrastructure improvements along Trinity Boulevard in an amount up to
$18,500,000.00, plus interest.
DISCUSSION:
On January 31, 2013, the Board of Tax Increment Reinvestment Zone Number Fourteen (Trinity
Lakes TIF) adopted a project and financing plan for the Trinity Lakes TIF, which was approved by the
City Council by ordinance and in accordance with Section 311.011 of the Texas Tax Code. Included in
the Project and Financing Plan were certain proposed infrastructure improvements to Trinity
Boulevard intended to mitigate flooding, enhance walkability, and support the development of
surrounding properties.
The City is currently planning to construct improvements to Trinity Boulevard between Interstate
Highway (IH) 820 and Precinct Line Road (Project). The City intends to fund the Project through
bond financing or another similar means, with funding from the Trinity Lakes TIF to help offset the
costs of the Project, including any construction and financing costs.
The Board of the Trinity Lakes TIF will consider funding the Project in an amount up to
$18,500,000.00 in current and future TIF funds.
It is recommended that the City execute a TIF Development Agreement with the Trinity Lakes TIF,
providing for such funding and outlining the responsibilities of both the Trinity Lakes TIF and the City
with respect to the Project. Once the associated Project has been completed, the balance of any
remaining funds obligated by the Trinity Lakes TIF for the Project will be returned to the Trinity Lakes
TIF for use in support of other projects and activities outlined in its Project and Financing Plan.
This project is located in COUNCIL DISTRICT 5.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendation and execution of
the contract, funds will be deposited into the TIRZ #14 - Trinity Lakes Fund. The Economic
Development Department (and Financial Management Services) is responsible for the collection and
deposit of funds due to the City.
Fund Department
ID
FROM
Account Project Program
ID
Activity Budget
Year
Reference #
(Chartfield 2)
Amount
Fund Department
Account Project Program
Activity Budget
Reference #
Amount
ID
ID
Year
(Chartfield 2
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11 /5/21, 12:54 PM
Submitted for City Manager's Office by_
M&C Review
Jay Chapa (5804)
Originating Department Head:
Additional Information Contact:
ATTACHMENTS
Trinity Lakes TIF Improvements Map.pdf
Robert Sturns (2663)
Michael Hennig (6024)
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