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Home My WebLink AboutIR 23-0766 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 23-0766 To the Mayor and Members of the City Council November 7, 2023 G Page 1 of 2 , r SUBJECT: FY2023 (TY2022) TAX INCREMENT FINANCING (TIF) ANNUAL * VA REPORT yez3 This Informal Report serves as an update to the Mayor and City Council regarding the performance of the City's Tax Increment Finance (TIF) Districts for FY2023 (Tax Year 2022). The Annual Report includes information on each TIF such as year-over-year appraised values and recent development as reported and billed to individual taxing entities. Across a number of important measures, the City of Fort Worth continued an exceptional pace of growth during Fiscal Year 2023.As has been seen throughout the City of Fort Worth, the TIF districts have benefited from robust market conditions that have created new opportunities for high-impact public-private partnerships. By leveraging the value of public improvements, Fort Worth has been able to attract private investment that boosts the value of property, while strengthening neighborhoods and the local economy. This enables the City to deliver services to citizens and businesses with less reliance on debt or tax rate increases. The annual growth of Fort Worth's TIF districts continues its upward trajectory from previous years, with taxable property values increasing by 3.6% in FY 2023 (Tax Year 2022). Across all of the city's TIFs, a combined $4.8 billion of new taxable value has brought the per-acre value of Fort Worth TIFs from a base of$101,592 to $474,464 —a 367.0% increase. Overall Base value of TIF I $1,305,212,782 Current taxable value of TIF $6,095,721,209 Total increase in taxable value to date $4,790,508,508 Percent increase in taxable value to date 367.0% Taxable value after termination' $4,941,630,748 Total projected increase in taxable value after $5,283,745,999 termination Total revenues produced by termination of TIF $1,435,127,336 'These assumptions are tailored to the specific characteristics,development potential, and the impact of anticipated new projects for each TIF district,taking into consideration their individual expiration dates and economic contexts. ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 23-0766 To the Mayor and Members of the City Council November 7, 2023 G Page 2 of 2 � r SUBJECT: FY2023 (TY2022) TAX INCREMENT FINANCING (TIF) ANNUAL * VA REPORT yez3 Overall Performance (All TIF Districts Combined) Ad Percent increase in taxable value by termination 404.8% Tax value of compound annual growth rate to date 10.58% Tax value trailing 5-year compound annual growth rate 9.62% Base value per acre $101,592 Current taxable value of TIF per acre $474,464 Projected taxable value per acre after termination $384,635 Increase in taxable value per acre to date $372,872 Increase in taxable value per acre by termination $384,635 Additional taxes at termination (vs. base value) $93,212,352 Today, nearly half of all new private property value added within a Fort Worth TIF district can be directly tied back to support provided by the TIF in the form of public improvements. These strategic TIF investments have contributed significantly to Fort Worth's current tax base, acting as a catalyst for city- wide growth, the revitalization of key neighborhoods, and enhancing the city's regional competitiveness. We will continue our ongoing monitoring and reporting of the performance of Fort Worth's TIF districts. This report is meant to provide a quick guide to the implementation and success of all the TIF districts within the City. More information on each individual TIF District, including the project plan, is openly available on the City's website: https://www.fortworthtexas.gov/departments/econdev/tif If you have any questions, please call Robert Sturns, Director of Economic Development Department at 817-392-2663. David Cooke City Manager ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS ysT ` ty, a C: rya ° rtirr rill till�1 >o R. Q�. '1 ''III+II �I TT PerformanceOverall (All TIF Combined) Base value of TIF $1,305,212,782 Current taxable value of TI F $6,095,721,209 Total increase in taxable value to date $4,790,508,508 Percent increase in taxable value to date 367.0% Taxable value after termination $4,941,630,748 Total projected increase in taxable value $5,283,745,999 Total revenues produced by termination of TIF $1,435,127,336 Percent increase in taxable value by termination 404.8% Tax value of compound annual growth rate to date 10.58% Tax value trailing 5-year compound annual growth rate 9.62% Base value per acre $101,592 Current taxable value of TIF per acre $474,464 Projected taxable value per acre after termination $384,635 Increase in taxable value per acre to date $372,872 Increase in taxable value per acre by termination $384,635 Additional taxes at termination(vs. base value) $93,212,352 2 Executive Summary • The annual growth of Fort Worth's TIF districts continues its upward trajectory from previous years, with taxable property values increasing by 3.9% in FY 2023 (Tax Year 2022), however this trailed the increase in taxable values for the city overall, which increased by 13.76% of all new private property value added within a Fort Worth TIF district can be directly tied back to support provided by the TIF fund in the form of public improvements. • These strategic TIF investments have contributed significantly to Fort Worth's current tax base. 3]] Fort Worth TiFs 114 . 11� �8 1 t]B Fort Worth currently has 11 active TIF districts. Pr tl1 •� _,, _ 99 77 O� Q 77 • 60 �121 1Y1 2G 199 183 Legend Y BB ea City Limits MOTIF 9: Trinity River Vision =B] 03 377 360) 1B3 OTIF 2: Texas Motor Speedway MOTIF 10: Lone Star MOTIF 3: Downtown MOTIF 12: East Berry Renaissance 287 J60, MLjTIF 4: Southside/Medical District MOTIF 13: Woodhaven ]] MOTIF 6: Riverfront =1TIF 14: Trinity Lakes ri MMTIF 8: Lancaster MOTIF 15: Stockyards/Northside 77 �7 / ' 4 How do TIF districts work? TIFs play a crucial role in supporting taxable property values and encouraging new growth throughout Fort Worth because they do not increase Tax Increment Financing taxes on residents or businesses within their borders. a x TaAfterue TIFs areaway for the City to finance larger Tax Revenue edicate infrastructure projects without having to dip into the ~ O TIF Fundd`o Termination of TIF city budget or spend tax dollars on them. Taxlncrement 6aseTax Value 1 Creation Time Termination 5 How do TIF districts work? When a TIF is established, the total value of existing real property in the district is identified as its base value. Tax Increment Financing As the district begins to see more investment and new development, the total taxable value of the area , begins to rise. The tax increment — the funds that Tax Value make up the difference between the new taxable Tax Revenue After Dedicated to Termination value and the original base value — are then set TIF Fund of TIF aside to help finance public improvements within the Taxlnctement district. �BaseIx Value TIF funding supports larger infrastructure projects like the creation of roads or utilities, environmental :Ion Time Termination remediation, destruction of existing structures, or historic preservation or rehabilitation. 6 How are TIFs governed? Each TIF district is governed by a TIF board, usually composed of 5-15 members that are appointed by participating taxing jurisdictions, including the city or county. TIF boards review and approve all policies, projects and investments financed by the TIF fund for each TIF district. 97 WEST Each TIF Board also approves the TIF annual A_ budget and provides direction to the TIF administrator, who is responsible for all day-to-day TIF-related activities — a position usually held by a member of the city's Economic Development Department, or a designated outside organization. TIF 2 : Texas Motor Speedway January 1, 1996 - December 31, 2035 1 1,490 acres TIF 2 was created as a means to purchase the Texas Motor Speedway and finance needed public improvements within the TIF boundary. It was expanded in 1999 to provide for construction, renovation, and operation of 5m� cm fn 'b°� OO yh educational facilities located in the Northwest ISD tract, a Em 7 and to provide for additional infrastructure work such as AND-1 street improvements, drainage and traffic signs. F° WALTRIP Texas Motor Speedway (TMS) continues to serve as a major destination for tourism activity and an anchor to �X"" "° STATE HV" north Fort Worth. "4 "° LL After a drop in property appraisals in the preceding year, reflecting depressed sales activity at Champions Circle EP and Tanger Outlets due to the COVID-19 pandemic, property values rebounded during 2021 to mark 8% annual growth by end of year. s TIF 2 : Texas Motor Speedway January 1, 1996 - December 31, 2035 1 1,490 acres FY23 Estimated TIF Balance: $4,160,166.00 Entities and Levels of Participation: All projects supported by TIF 2 (Texas Motor • City of Fort Worth — 0% Speedway) have been fully funded and all terms • Contributed $0 this FY satisfied. There are no active projects or future • Denton County — 100% commitments at this time. (Capped at $90,000 per year) • Contributed $85,511.18 this FY • Northwest ISD — 100% (With 2/3 rebate of annual fund contributions) • Contributed $604,568.82 this FY (Net of 2/3 rebate) Overall Performance Base value of TIF $5,084,127 Current taxable value of TIF $147,380,254 Total increase in taxable value to date $142,296,127 Percent increase in taxable value to date 2798.8% Taxable value after termination $198,084,400 • • Total projected increase in taxable value $193,000,273 Total revenues produced by termination of TIF $36,641,081 Percent increase in taxable value by termination 3796.1% Tax value of compound annual growth rate to date 15.66% Tax value trailing 5-year compound annual growth rate 16.02% Base value per acre $3,414 Current taxable value of TIF per acre $98,979 Projected taxable value per acre after termination $133,032 Increase in taxable value per acre to date $95,565 Increase in taxable value per acre by termination $129,979 Additional taxes at termination (vs. base value) $2,251,826 10 ■Base ■Additional Property Value t N $250 $200 $150 $100 $50 $0 0 1� 000 00� ZQ 006 000 61; Otis Oti3 Otiy 6ti1 Oti9 Otiy Otis OtiA 61;0 Oti0 030 03� 03b 036 03� �rti �qti �A" �rti �rti ��b ��ti �rti ��ti SAT kk" �# k# kk" krti TIF 2: Texas Motor Speedway (5-YEAR Growth by Land Use) of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR Land Use 2018 Taxable Value 2023 Taxable Value Taxable Value Taxable Value Taxable Value Taxable Value July Certified July Certified m v A 26,994,550 35,804,831 21.6% 8,810,281 33% 5.8% C1 966,556 1,605,212 1.0% 638,656 66% 10.7% 1 D1 483 - 0.0% (483) -100% -100.0% c v E 109,123 495,676 0.3% 386,553 354% 35.3% v_ z v F1 94,181,637 127,272,279 76.8% 33,090,642 35% 6.2% L1 1 1 446,801 0.3% 446,801 1 - Total 122,252,349 1 165,624,799 100.0% 43,372,450 35% 6.3% A Single-family Residential C1 Vacant Land Residential D1 Qualified Open Space Land E Rural land and Improvement Residential F1 Commercial L1 Personal Property Tangible Commercial TIF 2: Texas Motor Speedway FY2023 Budget to Actual Budgeted Actual FY2023 FY2024 An- REVENUE Denton County: 85,511.18 85,511.18 School District: 1,813,706.44 1,813,706.44 Subtotal 1,899,217.62 1,899,217.62 Other Revenue Interest Generated 14,632.00 140,795.02 TOTAL 1 45 : . WAM Now NWISD Rebate 1,209,137.63 1,209,137.62 'TOTALr1,209,137.63 � • . 1 . . BALANCE 13 TIF 3 : Downtown January 1, 1996 - December 31, 2025 1 407 acres TIF 3 was created to promote the redevelopment of downtown Fort Worth and is administered in partnership with Downtown Fort Worth, Inc. The lingering impacts of the COVID-19 pandemic and altered work patterns prompted by the normalization of remote and hybrid office work are still apparent in the downtown core. 92 Nevertheless, retail activity has stabilized while office vacancies are in the low teens and are y returning to a level of tightness more typically found in downtown Fort Worth over the past two FyoF decades.Although investment interest and activity has been drawn southward by plans for Texas �soti A&M's new Fort Worth campus and improvements to and around the Convention Center, it is 0 anticipated that stronger development and tenant interest in Downtown as a whole will continue to P improve in the near future. As the Downtown TIF approaches the end of its term, efforts are currently shifting to planning for ova a s o the future and identifying appropriate tools and tactics for the continued support of downtown. m Major developments Y 9 02 • Downtown Fort Worth, Inc. completed preparation of the 2023 Downtown Strategic Action 7TH Plan, an effort that takes place once every ten years to identify and organize action around key 10T y strategic goals and objectives for the coming ten-year period. TEXAS Z o N - 3rN • As the Downtown TIF approaches the end of its term in FY 2024, efforts are currently shifting to planning for the future and identifying appropriate tools and tactics for the continued support WAS ER Z of downtown. 14 TIF 3 : Downtown January 1, 1996 - December 31, 2025 1 407 acres FY23 Estimated TIF Balance: $19,267,472.00 Entities and Levels of Participation: A total of $2,971,553 of this balance has been • City of Fort Worth — 60% (Capped) committed to the following projects: • Contributed $3,260,432 this FY • $209,535 for TIF Administration • Tarrant County Hospital District — 40% (Capped*) • $888,853 for 777 Main Garage Lease • $376,091 for City Center Garage Lease Contributed $707,099 this FY • $223,640 for Chase Bank Garage Lease • Tarrant County College District — 20% (Capped*) • $138,162 for The Tower Garage Lease Contributed $200,596 this FY • $6,000 for TIF Planning • $14,800 for Free Parking Marketing • Tarrant Regional Water District — 40% (Capped*) • $84,602 for Parking Garage Insurance • Contributed $82,908 this FY • $1 ,000,000 for Heritage Park • Tarrant County — 40% (Capped*) Current remaining funds: $3,500,000.00 Contributed $705,748this FY Note: Due to a $100 million cap on lifetime TIF expenses, TIF 3 has a *All TIF 3 contributions are capped at a combined annual projected maximum of approximately$3.5 million remaining for support of PP projects beyond those already listed. Revenue in excess of the cap on amount Of$5 million. expenses would otherwise support$16,295,919 in additional project costs. Overall Performance Base value of TIF $322,440,637 Current taxable value of TIF $1,274,711,505 Total increase in taxable value to date $952,270,868 Percent increase in taxable value to date 295.3% Taxable value after termination $1,333,582,335 Total projected increase in taxable value $1,011,141,698 Total revenues produced by termination of TIF $109,335,087 Percent increase in taxable value by termination 313.6% Tax value of compound annual growth rate to date 5.83% Tax value trailing 5-year compound annual growth rate 5.40% Base value per acre $792,237 Current taxable value of TIF per acre $3,131,969 Projected taxable value per acre after termination $3,276,615 Increase in taxable value per acre to date $2,339,732 Increase in taxable value per acre by termination $2,484,378 Additional taxes at termination (vs. base value) $28,427,904 Ewe additional Property Value � ,51,600 $1,444 $1 200 �i,000 $6]0 ,400 $200 41 $0 TIF 3: Downtown (5-YEAR Growth by Land Use) of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR Land Use 2018 Taxable Value 2023 Taxable Value Taxable Value Taxable Value Taxable Value Taxable Value July Certified m A 145,760,953 167,601,188 12.6% 21,840,235 15% 2 8% v AC 363,680 697,100 0.1% 333,420 92% 13.9% B 22,108 35,606 0.0% 13,498 61% 10.0% W C1 70,014 14 0.0% (70,000) -100%A -81.8% BC 63,561,988 77,500,000 5.8%1 13,938,012 22% 4.0% C1C 4,563,083 6,621,308 0.5% °� 2,058,225 45/0 7.7/0 � z C2C 33,335,116 49,260,354 3.7%1 15,925,238 48% 8.1% F1 1,065,207,899 1,029,784,265 77.2%1110[= (35,423,634) -3% -0.7/ J3 2,450,000 2,082,500 0.2% (367,500) -15% -3.2% Tota 1 1,315,334,841 1,333,582,335 100.0% 18,247,494 1% 0.3% A Single-family Residential AC Single-family Interim Use B Multi-family Residential C1 Vacant Lan Residential BC Multi-family Commercial C1C Vacant Land Commercial C2C Commercial Land w Improvement Value F1 Commercial J3 Commercial Utility Electric Companies 18 TIF 3: Downtown FY2023 Budget to Actual Budgeted Actual FY2023 FY2023 REVENUE Nor City of Fort Worth: $ 3,301,808.00 $ 3,260,431.84 Tarrant County: $ 706,415.00 $ 705,747.68 Tarrant County Hospital District: $ 707,768.00 $ 707,099.31 Tarrant County College District: $ 200,953.00 $ 200,596.39 Tarrant Regional Water District: $ 83,056.00 $ 82,907.63 Subtotal $ 5,000,000.00 $ 4,956,782.85 Other Revenue Interest Generated $ 72,247.00 $ 613,025.20 EXPENDITURES TIF Administration $ 649,200.00 $ 631,735.71 TOTAL649,200.00 ff-Imm19 : ' ' , I TIF 4 : Southside January 1, 1996 - December 31, 2032 1,278 acres TIF 4 was created to promote the revitalization of Fort Worth's Near �� t Southside neighborhood and medical district, and to advance the transformation of this formerly blighted area into an economically productive, vibrant, mixed-use district. Near Southside Inc. administers TIF 4, working in close partnership with the city's Economic Development # Department. TIF 4 was originally established with a 25-year term, with an expiration date of December 31, 2022. In the fall of 2022, prior to the TI F's expiration, a collaborative review among NSI, Economic Development, and the City Manager's Office led to a proposal to extend TIF 4 for 10 years to complete important infrastructure and redevelopment work remaining. A significant modification is a reduced contribution rate from the TIF's only remaining contributing entity- the City of Fort Worth. The City Council approved TIF --+� 4's extension in November 2022, with a new expiration of December 31, ' 2032. FY2023 delivered another year of impressive development progress and F f infrastructure improvement to the Near Southside. Perhaps the most significant new project— and a highly visible testament to TI F 4's impact— was the construction of the new Burnett School of Medicine at TCU, centrally located on the TIF-transformed, tree-lined W. Rosedale St. and immediately adjacent to the district's rapidly expanding hospitals and thousands of new residential units. TIF 4 : Southside January 1, 1996 - December 31, 2032 1,278 acres ` w Major developments • In Magnolia Village,TIF 4 supported a major project incorporating public space, major new construction, adaptive reuse, and a visionary design at the southwest corner of Hemphill and Magnolia. The 701 development includes a new three-story office and retail building with anchor tenant VLK Architects, another new two-story restaurant building filling an important gap on Magnolia, and the adaptive conversion of the historic _ _T bank building into another destination restaurant space.The central and defining space supported by TIF 4 is the public plaza seamlessly connecting the new buildings with the site's historic landmarks.A tastefully designed multi-level garage serves on-site visitors and is also available as paid public parking. • With Trinity Metro moving quickly toward the design of TEXRail's extension and a new Near Southside Medical District station, NSI worked with major stakeholders to complete r a vision plan for mixed-use development adjacent to the TEXRaiI station. Both • • Baylor Scott&White All Saints Medical Center and Trinity Metro have endorsed the plan so that the proposed circulation network should serve as the basis for Trinity Metro's site , and station design. In addition,the plan presents market-based scenarios suitable for near-term development. , �K - • TIF 4 approved funding for the design and construction of major functional and 9 aesthetic enhancements at two important gateway underpasses: South Main at I- 30 and Rosedale at 1-35W. This is a collaborative effort among TPW, NSI, FW Public Art, DFWI, and community leaders from Historic Southside and South Main Village. The - team of urban designers and artists has made excellent design progress and is working toward a construction launch in FY24. TIF 4 : Southside January 1, 1996 - December 31, 2032 1 1,278 acres FY23 Estimated TIF Balance: $23,325,804 Entities and Levels of Participation: A total of $23,303,575 of this balance has been • City of Fort Worth - 90% through 2022, -30% after committed to the following projects: Contributed $7,952,330 this FY • $93,098 for Street Repair Program • $447,217 for Gateways Final Design • Tarrant County Hospital District - 50% (Fulfilled) • $2,800,000 for Gateways Construction Contributed $0 this FY • $270,915 for Wayfinding • $30,000 for 2023 Magnolia Green Garage • Tarrant County College District - 50% (Fulfilled) • $82,858 for 2023 Streetscape Program • $3,726 for Magnolia Streetscape Contributed $0 this FY • $66,838 for Watts Park Tarrant Regional Water District - 100% (Fulfilled) • $146,923 for 2023 Administration • $7,000,000 for Evans& Rosedale (garage and public spaces) Contributed $0 this FY • $4,900,000 for Trademark Vickery • $2,500,000 for 200 Vickery T&P TOD • Tarrant County - 50% (Fulfilled) • $1,750,000 for Historic Laundry Block • $890,000 for Nobleman Hotel Contributed $0 this FY • $480,000 for NRP/JPS Magnolia Lofts • Fort Worth ISD - 100% (Fulfilled) • $157,000 for 311 Daggett • $79,000 for Historic Cumberland Properties Contributed $0 this FY Current remaining funds: $22,229.00 Overall Performance Base value of TIF 71 $229,759,626 Current taxable value of TIF $1,469,888,997 Total increase in taxable value to date $1,240,129,371 Percent increase in taxable value to date 539.8% Taxable value after termination $2,511,452.026 • • Total projected increase in taxable value $2,281,692,400 Total revenues produced by termination of TIF $137,193,144 Percent increase in taxable value by termination 993.1% Tax value of compound annual growth rate to date 7.71% Tax value trailing 5-year compound annual growth rate 15.05% Base value per acre $179,781 Current taxable value of TIF per acre $1,150,148 Projected taxable value per acre after termination $1,965,142 Increase in taxable value per acre to date $970,367 Increase in taxable value per acre by termination $1,785,362 Additional taxes at termination (vs. base value) $60,875,525 �e ■a _ ■Base I Additional Property Value N$3,000 c $2,500 J ' $2,000 • • • - • - $1,500 $1,000 $500 $0 Jti�'��Jti999J1��Jti�o�ti�o�Jti��Jti��dJti�oyJti��6Jti��1Jti��Jti�o�Jti��oJti�M1yJti�1ryJ��3Jti�1�Jti�1yJti��J��11Jti�1�Jti��9Jti�ryoJti�ryhJti�ry�Jti�ry�Jti�rybJti�ryyJti�ry�Jti�ry�Jti�ry�Jti�ry�Jti��OJ1�3y TIF 4: Southside (5-YEAR Growth by Land Use) of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR Land Use 2018 Taxable Value 2023 Taxable Value Taxable Value Taxable Value Taxable Value Taxable Value July Certified A 31,130,047 65,704,375 4.1% 34,574,328 111% 16.1% AC 1,680,937 1,338,287 0.1% (342,650) -20% -4.5% B 2,621,341 5,238,293 0.3% 2,616,952 100% 14.9% C1 1,860,405 3,985,836 0.2% 2,125,431 114% 16.5% O - 402,500 0.0% 402,500 - - BC 146,210,973 615,632,047 38.1% 469,421,074 321% 33.3% C1C 27,819,129 53,760,140 3.3%1 25,941,011 Q 93% 14.1% C2C 14,964,703 19,473,104 1.2%1 4,508,401 1 30% 5.4% F1 583,881,540 825,439,102 51.1% 241,557,562 41% 7 2% cF F2 17,060,901 24,734,858 1.5%I 7,673,957 I 45% 7 7% o J2 100 100 0.0% - 0% 0.0% z J3 304,305 261,486 0.0% (42,819) -14% -3.0% J5 164,559 164,859 0.0% 300 0% 0.0% Total 827,698,940 1,616,134,987 100.0% 788,436,047 95% 14.3% BC Multi-family Commercial A Single-family Residential C1C Vacant Land Commercial AC Single-family Interim Use C2C Commercial Land w Improvement Value B Multi-family Residential F1 Commercial C1 Vacant Land Residential F2 Industrial O Residential Inventory J2 Commercial Utility Gas Companies J3 Commercial Utility Electric Companies J5 Commercial Utility Railroads TIF 4: Southside FY2023 Budget to Actual Budgeted Actual FY2023 FY2023 FUND BALANCE CARRYOVER REVENUE City of Fort Worth: 8,245,224.29 7,952,329.59 Subtotal 8,245,224.29 7,952,329.59 Other Revenue - Transfer from PARD 6,956.00 6,956.00 Interest Generated 204,576.00 757,384.87 TOTAL EXPENDITURES TIF Administration 358,800.00 306,478.27 TIF Projects 2,916,377.00 2,460,660.98 Street Repair and Reconstruction 3,000,000.00 3,000,000.00 TOTAL00 5,767,139.25 ENDING FUND :A23,325,804.94 26 TIF 6 : Riverfront November 12, 2002 — November 20, 2036 1 64 acres TIF 6 was created to promote the development of north downtown, primarily near the former RadioShack campus/the new Fort Worth City Hall. 9$ HERITAGE All property within the Riverfront TIF is currently occupied by Tarrant County College and other exempt ° uses. Despite the high level of activity that this brings to the district and to the northern portion of Downtown �N a Fort Worth, the tax-exempt status of property has the effect of nullifying tax increment and any revenue that might otherwise go to the TIF. °°Z y°Gs All TIF supported projects have been fully funded and o2 no projects are presently anticipated for the TIF a� EoRSS4AR district. 27 TIF 6 : Riverfront November 12, 2002 - November 20, 2036 1 64 acres FY23 Estimated TIF Balance: $201,643.00 Entities and Levels of Participation: All projects supported by TIF 6 (Radio Shack Campus) • City of Fort Worth — 0% have been fully funded and all terms satisfied. There • Contributed $0 this FY are no active projects or future commitments at this • Tarrant County Hospital District — 100% time. • Contributed $0 this FY • Tarrant County College District — 80% • Contributed $0 this FY • Tarrant Regional Water District — 100% • Contributed $0 this FY • Tarrant County — 100% • Contributed $0 this FY Overall Performance Base value of TIF $2,822,348 Current taxable value of TIF $- Total increase in taxable value to date $(2,822,348) Percent increase in taxable value to date -100.0% Taxable value after termination $- Total projected increase in taxable value $(2,822,348) Total revenues produced by termination of TIF $5,096,624 Percent increase in taxable value by termination -100.0% Tax value of compound annual growth rate to date -100.0% Tax value trailing 5-year compound annual growth rate -100.0% Base value per acre $44,377 Current taxable value of TIF per acre $- Projected taxable value per acre after termination $- Increase in taxable value per acre to date $(44,377) Increase in taxable value per acre by termination $(44,377) Additional taxes at termination (vs. base value) $- 29 • • 011, r� O� >y l� 7y Sc' 011, r� O� yy S� >y ---- ----- ----- ---- ---- ---- ----- - o > �7y r l Yy o rOc' a m rO�Y v a �r ■ Oi.7 '^ S m �O Fl Or >y rl O� >y so Yy �O O� >y S� 7y FO LD V rN O 00 �D V rq suo!llIw TIF 8 : Lancaster Corridor December 9, 2003 - December 31, 2024 1 220 acres TIF 8 was created to promote development along the Lancaster corridor after an elevated portion of the I-30/I-35 interchange was realigned and demolished, re-establishing Lancaster Avenue as one of the primary gateways to Downtown Fort Worth and the Near Southside medical district. 6 �� 0 TIF 8 has rebounded strongly from the impacts of the COVID-19 pandemic, particularly in hospitality and restaurant-related properties near the Fort Worth Convention Center. Property valuations increased during the 2022 tax year, gaining 5.8%year-over-year. New projects on the L horizon are anticipated to accelerate investment and growth in the district's value. However, as the N $o� TIF nears the end of its term, efforts are shifting to the identification of appropriate tools and tactics w m yo to support future district needs. 10TH = Oy EXASI Major developments o 3T„ • The City of Fort Worth entered into an agreement supporting the expansion of the Omni Hotel, Z which will result in a combined 1,000 room property • The announced creation of a new and expanded Texas A&M Fort Worth campus has generated significant interest among investors and developers in the area. e S15\1130� • The City of Fort Worth has solidified its plans for the financing and construction of improvements to the Fort Worth Convention Center. �e - Cp9 VICKERY .�O 0 TIF 8 : Lancaster Corridor December 9, 2003 - December 31, 2024 1 220 acres FY23 Estimated TIF Balance: $21,445,916.00 Entities and Levels of Participation: A total of $22,914,182 has been committed to the • City of Fort Worth — 50% following projects: • Contributed $1,940,915.39this FY • $414,182 for TIF administration in remaining years of the • Tarrant County Hospital District — 0% term • Contributed $0 this FY • $1 ,050,000 for Burnett Lofts • Tarrant County College District — 40% • $3,200,000 for Lancaster-Lamar Mixed-Use development (Capped at $7 million, not projected to reach in • $2,750,000 for Deco 969 remaining term of TIF) • $7,500,000 for Le Meridien • Contributed $287,653.44 this FY • $8,000,000 Waggoner Hotel • Tarrant Regional Water District — 40% • Contributed $59,443.65 this FY • Tarrant County — 40% - (Fulfilled) (Capped at $7 million, cap met in this FY) • Contributed $300,687 this FY Overall Performance Base value of TIF $178,938,722 Current taxable value of TIF $723,757,077 Total increase in taxable value to date $544,818,355 Percent increase in taxable value to date 304.5% • Taxable value after termination $921,503,593 Total projected increase in taxable value $742,564,871 Total revenues produced by termination of TIF $49,380,247 Percent increase in taxable value by termination 415.0% Tax value of compound annual growth rate to date 7.63% Tax value trailing 5-year compound annual growth rate 7.58% Base value per acre $813,358 Current taxable value of TIF per acre $3,289,805 Projected taxable value per acre after termination $4,188,653 Increase in taxable value per acre to date $2,476,477 Increase in taxable value per acre by termination $3,375,295 Additional taxes at termination (vs. base value) $18,649,456 ■Base ■Addtional Property Value • m $1,000 • c $900 $800 ' AA • • • i $700 $600 $500 $400 $300 $200 $100 $0 F��oop 4,y�oh Q�y0o6 4�y�1 4��000 4�yoo9��yoy0 4a�oyy�y�oyti�yyQy3�yyoyP��ytp�J�t'd�yryoyl�y�oys �oy9 �cp�Op��yti�OCR� oy��Op�yyOtiO TIF 8: Lancaster Corridor (5-YEAR Growth by Land Use) Land Use 2018 Taxable Value 2023 Taxable Value %of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR July Certified Taxable Value Taxable Value Taxable Value Taxable Value A 86,332,503 132,937,848 15.1% 46,605,345 54% I 9.0% I AC 1,500,000 0.2% 1,500,000 C1 6 7 0.0% 1 1 17% 3.1% 1 BC 24,354,081 138,167,420 15.7% 113,813,339 467% 41.5% C1C 6,304,570 2,253,470 0.3% (4,051,100)1 -64% -18.6% 1 C2C 8,854,169 11,052,602 1.3% 2,198,433 25% 4.5% cF F1 438,166,350 578,850,222 65.8% 140,683,872 1 32% 5.7% 1 z J2 1,257,001 1,068,451 0.1% (188,550)1 -15% -3.2% J3 14,478,096 14,469,086 1.6% (9,010)1 0% 0.0% Total 579,746,776 1 880,299,106 100.0% 300,552,330 52% 8.7% A Single-family Residential AC Single-family Interim Use C1 Vacant Land Residential BC Multi-family Commercial C1C Vacant Land Commercial C2C Commercial Land w Improvement Value F1 Commercial F2 Industrial J2 Commercial Utility Gas Companies J3 Commercial Utility Electric Companies TIF 8: Lancaster Corridor FY2O23 Budget to Actual Budgeted Actual FY2023 FY2023 FUND BALANCE CARRYOVER City of Fort Worth: $ 1,800,462.00 $ 1,940,915.39 Tarrant County: $ 300,687.00 Tarrant County College District: $ 272,209.00 $ 287,653.44 Tarrant Regional Water District: $ 56,252.00 $ 59,443.65 Subtotal $ 2,128,923.00 $ 2,588,699.48 Other Revenue Interest Generated $ 190,330.00 $ 724,577.15 TOTAL :0 Catalyst Phase - Burnett Lofts $ 75,000.00 $ 3,725,852.00 Lancaster Ave. Median Landscaping $ 700,000.00 Waggoner Hotel $ 8,000,000.00 Southern Land $ 2,750,000.00 TIF Administration $ 111,039.00 $ 111,039.00 TOTAL00 00 ENDING FUND BALANCE 12,652,745.16 44 36 TIF 9 : Trinity River Vision December 16, 2003 - December 31, 2054 1 3,980 acres TIF 9 was created to promote redevelopment along the Trinity River while creating mixed- use development and utilizing Gateway Park as hydraulic valley storage to provide the necessary flood protection associated with the bypass flood control. o �R 28TH While site and infrastructure work has continued to take place in recent years, the y announced awarding of federal funds for the project in 2022 along with a ten-year extension to the term of the TIF have combined to clarify the overall funding picture for the Central City Flood Control Project and enabled more targeted discussions to begin relating N to the potential for near-term development activity in the district. 121 ✓gc'FS ao�� . Major developments e 00 IST a 4TH • The City of Fort Worth,Tarrant County, the Tarrant Regional Water District, Tarrant W �R° IDGE County College, Real Estate Council of Greater Fort Worth, Downtown Fort Worth Inc. , and Streams&Valleys engaged a team led by national real estate expert HR&A Advisors to provide key analysis and consulting services that will guide the future Q� H 8, o development of Panther Island. LANC STER • In FY2023, TIF 9 accepted for reimbursement approximately$8 million in project costs relating to land acquisition, business relocations, environmental 287 remediation, demolition, and other project costs for the Central City Flood _ Ro DALE Control Project. 37 TIF 9 : Trinity River Vision December 16, 2003 - December 31, 2054 1 3,980 acres FY23 Estimated TIF Balance: $8,281.00 Entities and Levels of Participation: A total of 100% of this balance has been committed to • City of Fort Worth — 80% the following projects: • Contributed $4,182,364.13 this FY • Central City Flood Control Project • Tarrant County Hospital District — 80% • Contributed $1,455,861 this FY • Tarrant County College District — 80% • Contributed $840,927 this FY • Tarrant Regional Water District — 80% • Contributed $173,780 this FY • Tarrant County — 80% • Contributed $1,437,391 this FY Overall Performance Base value of TIF $130,744,298 Current taxable value of TIF $929,408,728 Total increase in taxable value to date $798,664,430 Percent increase in taxable value to date 610.9% • Taxable value after termination $4,049,893,069 Total projected increase in taxable value $3,919,148,771 • Total revenues produced by termination of TIF $795,948,177 Percent increase in taxable value by termination 2997.6% Tax value of compound annual growth rate to date 11.47% Tax value trailing 5-year compound annual growth rate 11.56% Base value per acre $32,850 Current taxable value of TIF per acre $233,520 Projected taxable value per acre after termination $1,017,561 Increase in taxable value per acre to date $200,669 Increase in taxable value per acre by termination $1,360,744 Additional taxes at termination (vs. base value) $101,321,152 Base Additional Property Value c 0 $3,000 i i $2,500 $2,000 51,500 i $1,000 $500 $0 �,�ooh��oo��aryooa�,ryotiti��oy3 Fati�y��,ryo,� F,��~��yvoyti�aryoyM�,ryoyh��oti��+�otia�,ryo,,ti�,�033��o�h�aryo3A ��ryo3a��o�ti�+�oa3 Fyti�by TIF 9: Trinity River Vision (5-YEAR Growth by Land Use) of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR Land Use 2018 Taxable Value 2023 Taxable Value Taxable Value Taxable Value Taxable Value Taxable Value July Certified m A 55,270,577 76,867,769 7.1% 21,597,192 1 39% 6.8% w AC 8,850 76,867,769 7.1% 76,858,919 868462% 513.4% a B 56,854 91,564 0.0% 34,710 61% 10.0% C1 105,387 580,667 0.1% 475,280 451% 40.7% BC 288,078,483 644,969,003 59.4%111 j 356,890,520 124% 17.5% C1C 30,663,794 24,144,382 2.2%I (6,519,412) -21% -4.7%1 C2C 8,951,613 7,701,936 0.7%I (1,249,677) -14% -3.0%1 D1 5,305 3,328 0.0% (1977), -37% -8 9%1 v F1 245,329,184 218,114,866 20.1%W:1 (27,214,318) -11% -2.3% C5 F2 21,749,316 31,553,555 2.9%' 9,804,239 45% 7 7%i z J2 4,063,115 3,959,003 0.4%I (104,112) -3% -0.5%1 J3 1,103,273 947,190 0.1% (156,083) -14% -3.0%1 J5 8,494 8,494 0.0% 0% 0.0%1 J6 27,181 27,181 0.0% - 0% 0.0%1 Total 1 655,421,426 1,085,836,707 100.0% 430,415,281 66% 10.6% A Single-family Residential F1 Commercial AC Single-family Interim Use F2 Industrial B Multi-family Residential J2 Commercial Utility Gas Companies C1 Vacant Land Residential J3 Commercial Utility Electric Companies BC Multi-family Commercial J5 Commercial Utility Railroads C1C Vacant Land Commercial J6 Commercial Utility Pipelines C2C Commercial Land w Improvement Value D1 Qualified Open Space Land 41 TIF 9: Trinity River Vision FY2023 Budget to Actual Budgeted Actual FY2023 FY2024 BALANCEFUND City of Fort Worth: $ 4,182,364.13 $ 4,182,364.13 Tarrant County: $ 1,447,089.43 $ 1,437,391.27 Tarrant County Hospital District: $ 1,449,860.87 $ 1,455,860.90 Tarrant County College District: $ 840,926.92 $ 840,926.92 Tarrant Regional Water District: $ 173,779.93 $ 173,779.93 Subtotal $ 8,094,021.28 $ 8,090,323.15 Other Revenue Interest Generated $ 8,974.00 $ 20,953.78 TOTAL FUNDS AVAILABLE $ 8,109,529.25 .0 EXPENDITURES TRVA Loan $ 8,094,021.28 $ 8,109,529.25 TOTAL EXPENDITURES $ 8,094,021.280. ,529.25 ENDING FUND BALANCE $ 1 42 TIF 10 : Lone Star June 15, 2004 - December 31, 2025 1 981 acres TIF 10 was created to finance the development of public space and infrastructure on and near the site of Cabela's, a 200,000 square foot hunting and outdoor retail facility in north ti= Fort Worth. s� TIF 10 demonstrated a drop in taxable value due to Cabela's continued decline in sales. Although the result was a lower assessment, nearby developments at Alliance Airport WESTPORT wE�Po� KELLER HASLET continue to draw in new businesses that add to Fort Worth's economy and position as an P+ ideal location for aerospace, manufacturing, and transportation innovation. O- K `PNGP" v� 0 5 Major developments • TIF 10 revenues were dedicated to paying for the initial public improvements and exhibition space that supported the Cabela's development. F J • Currently, no further development projects can be supported by TIF funds, as all „o amounts collected are needed to pay down the cost of the infrastructure in place. • Cabela's purchased the bond that provided the up-front funding for the project. The TIF district pays the holder of that bond as tax increment is collected into the TIF. However, TIF 10 experienced a year-over-year revenue decrease of 4.77% in FY 2021 as a result of the local economy during the pandemic. TIF 10 : Lone Star June 15, 2004 - December 31, 2025 1 981 acres FY23 Estimated TIF Balance: $12,558.00 Entities and Levels of Participation: A total of $4,317,258 has been committed to the • City of Fort Worth — 90% following projects: • Contributed $817,482 this FY • The Lone Star Local Government Corporation in • Tarrant County Hospital District — 50% support of Cabela's project • Contributed $150,433this FY • Tarrant County College District — 50% • Contributed $86,939 this FY • Tarrant Regional Water District — 60% • Contributed $13,067 this FY • Tarrant County — 50% • Contributed $158,123 this FY Overall Performance Base value of TIF $16,073,937 Current taxable value of TIF $143,556,571 Total increase in taxable value to date $127,482,634 Percent increase in taxable value to date 793.1% Taxable value after termination $236,231,126 ' Total projected increase in taxable value $220,157,189 Total revenues produced by termination of TIF $17,001,939 Percent increase in taxable value by termination 1369.7% Tax value of compound annual growth rate to date 14.23% Tax value trailing 5-year compound annual growth rate 6.77% Base value per acre $16,385 Current taxable value of TIF per acre $146,337 Projected taxable value per acre after termination $240,806 Increase in taxable value per acre to date $129,952 Increase in taxable value per acre by termination $224,421 Additional taxes at termination (vs. base value) $5,580,794 Base Additional Property Value N $300 e D • � g $250 $200 $150 $100 $50 $0 oo� oQ� & P & oti° oyti oti oti' oy° oti' oyb oti oy� oti9 oti° otiti otiry oti' oti° oti' otie & otiv 'oti Kati e 11�1 TIF 10: Lone Star (5-YEAR Growth by Land Use) 2023 Taxable Value %of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR Land Use 2018 Taxable Value July certified Taxable Value Taxable Value Taxable Value Taxable Value m A 21,841,175 33,379,292 14.8% 11,538,117 53% 8 9% v C1 215,348 917,425 0.4% 702,077 326% 33.6% v E 453,000 565,000 0.3% 112,000 25% �� 4.5% O 621,500 - 0.0% (621,500) -100% -100.0% BC 36,630,000 56,200,000 24.9% 19,570,000 53% 8 9% C1C 611,734 4,089,576 1.8% 3,477,842 569% 46.2% 0 C2C 200 1,100 0.0% 900 450% 40.6% D1 64,349 53,941 0.0% (10,408)I -16% 1 -3.5% F1 52,899,466 130,744,050 57.9% 77,844,584 1 147% 19.8% Total 113,336,772 225,950,384 100.0% 112,613,612 99% 14.8% A Single-family Residential E Rural Land and Improvements Residential O Residential Inventory C1 Vacant Land Residential BC Multi-family Commercial C1C Vacant Land Commercial C2C Commercial Land w Improvement Value D1 Qualified Open Space Land F1 Commercial TIF 10: Lone Star FY2023 Budget to Actual Budgeted Actual FY2023 FY2023 FUND BALANCE CARRYOVER • • • 144.39 4,044.39 City of Fort Worth: ' 878,163.00 1 817,482.39 Tarrant County: 161,911.00 158,123.49 Tarrant County Hospital District: 162,221.00 150,533.10 Tarrant County College District: 94,098.00 86,938.61 Tarrant Regional Water District: 14,804.00 13,067.02 Subtotal 1,311,197.00 1,226,144.61 Other Revenue Interest Generated 4,160.00 24,253.65 TOTAL FUNDS AVAILABLE , 1 EXPENDITURES Lone Star Local Government Coporation 1,319,401.39 1,241,883.93 TOTAL EXPENDITURES , 1 ENDING FUND BALANCE 12,558.72 48 TIF 12 : East Berry Renaissance June 18, 2006 - December 31, 2027 1 604 acres TIF 12 was created to help fund public infrastructure improvements along the East Berry Street corridor and promote redevelopment and growth throughout the area. J J W 287 2 U r Major developments supported by TIF in FY2023 BERRY P • The TIF is currently supporting the E. Berry master corridor transformation SIER ESTATE plan from I-35 to Lake Arlington. The plan will look at transportation, public ° a -A Z 'A infrastructure improvements, development opportunities, smart city GA LIN infrastructure and more, and is supported by $2.5 million in bond funds from the City's 2022 bond package. 9 y • The TIF has made its final payment for the Mason Heights multi-use yLU development that included Colombia Renaissance's multifamily and senior tt housing projects, YMCA, Uplift School, and ACH office. The TIF is awaiting updated plans for final phase of the Renaissance Heights Purpose Built Community's development, with plans to bring additional 9 mixed income housing opportunities, enhancements to Happy Park, neighborhood commercial space, and Colombia Renaissance's final affordable housing building with $3,900,000 currently committed. TIF 12 : East Berry Renaissance June 18, 2006 - December 31, 2027 1 604 acres FY23 Estimated TIF Balance: $88,614.00 Entities and Levels of Participation: A total of$4,410,040 has been committed to the following projects . City of Fort Worth — 100% and administration, prioritizing those in Renaissance Heights: • Contributed $879,649 this FY • $3,900,000 to Renaissance Heights — Mason Heights South (Housing Channel, Happy Park & Mason Heights LP). Tarrant County Hospital District — 80% • $200,000 to CFW Transportation and Public Works for E. Berry (Capped at $4,472,590) Corridor Design & Planning Study • Contributed $231,701 this FY • $310,040 for TIF administration in remaining years of the term • Tarrant County College District — 50% • Contributed $82,959 this FY • Tarrant Regional Water District — 100% • Contributed $34,285 this FY • Tarrant County — 100% (Capped at $7,100,000) • Contributed $276,848 this FY Overall Performance Base value of TIF $29,176,323 Current taxable value of TIF $ 152,635,850 Total increase in taxable value to date $ 123,459,527 Percent increase in taxable value to date 423.1% Taxable value after termination $222,148,321 Total projected increase in taxable value $192,971,989 • Total revenues produced by termination of TIF $ 19,174,887 1 - - • - I Percent increase in taxable value by termination 661.4% . l � Tax value of compound annual growth rate to date 10.90% Tax value trailing 5-year compound annual growth rate 8.02% Base value per acre $48,305 Current taxable value of TIF per acre $252,708 Projected taxable value per acre after termination $367,795 Increase in taxable value per acre to date $204,403 Increase in taxable value per acre by termination $319,490 Additional taxes at termination (vs. base value) $4,699,850 m $300 ■Base ■Additional Property Value c 0 $250 $200 . - I � $150 $100 $50 $0 �r1oa1�oo�I,A4' �otio lck4, �A+ �,l F�V�p 1,1 IA? "k' ��oy��Jvoti9��oti0�+�tiM1,kl SAP kkP �,�otiy�,�oti6��oti1�i�oti9 fie' �kf'' TIF 12: East Berry Renaissance (5-YEAR Growth by Land Use) of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR Land Use 2018 Taxable Value 2023 Taxable Value Taxable Value Taxable Value Taxable Value Taxable Value July Certified ;° A 15,542,198 45,382,316 26.4%JW 29,840,118 192% 23.9% c v :2 O 558,600 861,897 0.5% 303,297 54% 9.1% N N C1 132,422 207,649 0.1% 75,227 57% 9.4% m BC 15,300,000 34,540,000 20.1% 19,240,000 126% 17.7% C1C 11,641,490 10,305,556 6.0% (1,335,934) -11% -2.4/o C2C 336,888 327,728 0.2% (9,160) -3% -0.5% D1 - 7,717 0.0% 7,717 - z F1 70,973,783 74,599,465 43.3% 3,625,682 5% 1.0% F2 2,724,755 1 5,879,771 3.4%1 3,155,016 116% Total 117,210,136 172,112,099 100.0% 54,901,963 47% 8.0% A Single-family Residential O Residential Inventory C1 Vacant Land Residential BC Multi-family Commercial C1C Vacant Land Commercial C2C Commercial Land w Improvement Value D1 Qualified Open Space Land F1 Commercial F2 Industrial TIF 12: East Berry Renaissance FY2O23 Budget to Actual Budgeted Actual FY2023 FY2024 FUND BALA (previousNCE CARRYOVERyear) , City of Fort Worth: $ 921,949.00 $ 879,649.13 Tarrant County: $ 302,146.00 $ 276,847.93 Tarrant County Hospital District: $ 242,180.00 $ 231,700.73 Tarrant County College District: $ 87,796.00 $ 82,958.78 Tarrant Regional Water District: $ 36,285.00 $ 34,285.45 Subtotal $ 1,590,356.00 $ 1,505,442.02 Tsfr Residual to 28613 Wdhaven $ - $ 200,000.00 Other Revenue $ 200,000.00 Interest Generated $ 2,282.00 $ 22,346.13 TOTAL EXPENDITURES Renaissance Heights $ 1,956,682.00 $ 1,956,682.00 E Berry Corridor Design & Planning Study $ 153,464.69 TIF Administration $ 59,929.00 $ 59,929.00 TOTAL00 ENDING FUND BALANCE ., 54 TIF 13 : Woodhaven November 27, 2007 - December 31, 2028 1 1,100 acres TIF 13 was created to help fund public infrastructure improvements that will provide a "foundation for development" to encourage and support the long-term public needs of the neighborhood and secure mixed-use economic growth �� RAN°U opportunities in the Woodhaven area. The district has continued a strong pace of growth seen in recent years, despite the effects of the COVID-19 pandemic, with appraised values increasing 24% year-over-year (the �y district's highest pace of growth in the past six years). THE MEiG TS g 3 Major developments P � u • Eastside Blossoms completed the second phase of planting trees x s �TG r throughout the district as part of the Texas Blossoms project • City staff, led by the Transportation and Public Works 9 gRI r Department, have initiated stakeholder engagement efforts to inform future a activity and funding decisions by the TIF. TIF 13 : Woodhaven November 27, 2007 - December 31, 2028 1 1,100 acres FY23 Estimated TIF Balance: $13,731,436.00 Entities and Levels of Participation: A total of $5,646,621 of this balance has been • City of Fort Worth — 100% committed to the following projects: • Contributed $2,617,720 this FY • $891 ,768 for Administration • Tarrant Regional Water District — 100% • Contributed $99,286 this FY • $554,853 to Highwoods Village Development • Tarrant County — 80% (Capped) • $4,200,000 to Randol Mill Road Side Path Project • Contributed $638,633 this FY • Tarrant County Hospital District — 80% (Fulfilled) Current remaining funds: $8,084,815.00 • Contributed $384,723 this FY • Tarrant County College District — 50% • Contributed $240,234 this FY Overall Performance Base value of TIF $181,859,151 Current taxable value of TIF $549,258,435 Total increase in taxable value to date $367,399,284 Percent increase in taxable value to date 202.0% Taxable value after termination $737,404,887 Total projected increase in taxable value $555,545,736 • • ' • ' Total revenues produced by termination of TIF $37,876,800 11 . Percent increase in taxable value by termination 305.5% Tax value of compound annual growth rate to date 7.65% Tax value trailing 5-year compound annual growth rate 11.65% Base value per acre $165,327 Current taxable value of TIF per acre $499,326 Projected taxable value per acre after termination $670,368 Increase in taxable value per acre to date $333,999 Increase in taxable value per acre by termination $505,042 Additional taxes at termination (vs. base value) $11,829,168 ■Base ■Additional Property Value N$800 c 0 $700 $600 _ $500 $400 • • 11 I • I $300 i $200 i $100 i i $0 ol,0" Fy1p1, Fy1013 F�1015 F�10�1 F�tip19 F�ti�21 F�2p23 F j1��5 �1pti1 P�0ti9 f�1p31 TIF 13: Woodhaven (5-YEAR Growth by Land Use) of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR Land Use 2018 Taxable Value 2023 Taxable Value Taxable Value Taxable Value Taxable Value Taxable Value July Certified A 42,683,813 79,543,017 12.5%L 36,859,204 86% ; 13.3% B 3,683,350 7,049,485 1.1%I 3,366,135 I 91% 13.9% C1 236,014 2,032,689 0.3% 1,796,675 761% 53.8% BC 223,651,946 445,879,760 70.2%JIM= 222,227,814 99% ?� 14.8% C1C 7,016,534 7,103,807 1.1%1 87,273 1% 0.2% C2C 839,821 338,931 0.1% (500,890) -60%1 -16.6% F1 79,895,955 92,891,141 14.6%❑ 12,995,186 16% I 3.1% o J2 5,220 5,220 0.0% - 0% 0.0% z J3 748,909 657,559 0.1% (91,350) -12% -2.6% Total 358,761,562 1 635,501,609 100.0% 276,740,047 77% 12.1% A Single-family Residential B Multi-family Residential C1 Vacant Land Residential BC Multi-family Commercial C1C Vacant Land Commercial C2C Commercial Land w Improvement Value F1 Commercial J2 Commercial Utility Gas Companies J3 Commercial Utility Electric Companies TIF 13: Woodhaven FY2023 Budget to Actual Budgeted Actual FY2023 FY2023 FUND BALANCE CARRYOVER(previous year) 9,4.56,772.88 9,456,772.88 City of Fort Worth: $ 2,641,939.00 $ 2,617,719.90 Tarrant County: $ 602,350.00 $ 638,633.49 Tarrant County Hospital District: $ 369,281.00 $ 384,722.89 Tarrant County College District: $ 242,946.00 $ 240,233.77 Tarrant Regional Water District: $ 100,413.00 $ 99,286.22 Subtotal $ 3,956,929.00 $ 3,980,596.27 Other Revenue Interest Generated $ 97,704.00 $ 423,670.89 EXPENDITURES Tree Planting $ 22,250.00 Highwoods Village Development, LLC $ 184,951.00 TIF Administration $ 129,604.00 $ 129,604.00 TIF 14 : Trinity Lakes November 12, 2012 - December 31, 2032 1 1,800 acres TIF 14 was created to help finance public infrastructure improvements in the area east of Loop 820 surrounding Trinity Boulevard, including improvements to arterials (Trinity Boulevard and Precinct Line Road), the Trinity Trails system, and other eligible projects that help encourage redevelopment TRINITY in the Trinity Lakes area as a Transit-Oriented Development. c"°rMP o g The Trinity Lakes TIF experienced its third consecutive year of —MMELoA-IS double-digit growth in appraisals in 2021 , posting a growth rate W Z of 13.6% year-over-year. Growth in appraisals is being driven in z the district by continued development and upward pricing in s single-family homes in the area. RANDOL MIL N m�2 > O O ❑ o a 61 TIF 14 : Trinity Lakes November 12, 2012 - December 31, 2032 1 1,800 acres Major developments Work continues in the district, with primary activity relating to improvements to Trinity Boulevard and the construction of a new THE rail transit station. Meanwhile, commercial and multi-family development along the south side of Trinity Boulevard is moving forward with plan TRINITY finalization and construction. °"°r<� MP R o g • The TIF district continued its funding on what will ultimately be an -MMEL D-S $18.5 million reimbursement of construction costs for improvements to Trinity Boulevard. The project is being led by the City of Fort Worth and supported by bond financing, with annual debt service paid by the s Trinity Lakes TI F district with commercial and mixed-use property planned for the area. RANDOL MIL • Infrastructure and flood mitigation planning was a major focus in 2023 m� r o for the proposed site of mixed-use development to be located north of a N Trinity Boulevard near the new THE rail station. 62 0 TIF 14 : Trinity Lakes November 12, 2012 - December 31, 2032 1,800 acres FY23 Estimated TIF Balance: $6,631,505.00 Entities and Levels of Participation: A total of $21,699,647 has been committed to the • City of Fort Worth — 85% following projects: • Contributed $1,471,783 this FY • Trinity Boulevard (Debt service reimbursement) • Tarrant County Hospital District — 0% • Contributed $0 this FY • Tarrant County College District — 0% • Contributed $0 this FY • Tarrant Regional Water District — 85% • Contributed $63,974 this FY • Tarrant County — 50% • Contributed $310,170 this FY Overall Performance Base value of TIF $35,035,971 Current taxable value of TIF $278,054,837 Total increase in taxable value to date $243,018,866 Percent increase in taxable value to date 693.6% Taxable value after termination $789,668,258 Total projected increase in taxable value $754,632,287 Total revenues produced by termination of TIF $53,931,069 Percent increase in taxable value by termination 2153.9% Tax value of compound annual growth rate to date 23.02% Tax value trailing 5-year compound annual growth rate 13.33% Base value per acre $19,464 Current taxable value of TIF per acre $154,475 Projected taxable value per acre after termination $438,705 Increase in taxable value per acre to date $135,010 Increase in taxable value per acre by termination $438,705 Additional taxes at termination (vs. base value) $18,856,761 ■ease ■Additional Property Value N$1,000 c $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 .990 , , tiM tih by sb ti� py6 s 1; titi Lti ti3 tia ptih �6 s ti L9 y� p3ti p�ti '5 3 FAl �Al �# �# �Al FJV FAl QAl 4Al FAl FAl FJ" Ey Q0 FAT QAl FJ�� FAl tJ` F`` F#" FAT QAT QJ�� TIF 14: Trinity Lakes (5-YEAR Growth by Land Use) of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR Land Use 2018 Taxable Value 2023 Taxable Value Taxable Value Taxable Value Taxable Value Taxable Value July Certified A 106,790,652 260,503,634 77.3% 153,712,982 144% 19.5% C1 611 397,068 0.1% 396,457 64887% 265.2% ILJ W O 64,900 1,287,334 0.4% 1,222,434 1884%I 81 8% BC 35,500,000 50,000,000 14.8%E 14,500,000 41% 7.1% m C1C 7,102,022 5,706,953 1.7% (1,395,069) 20% 4.3% z C2C 137,962 40,917 0.0% (97,045) -70% -21.6% D1 9,851 8,458 0.0% (1,393) 14% 2 o F1 12,352,268 19,241,252 5.7%1 6,888,984 1 56% 9.3% Total 161,958,266 337,185,616 100.0% 175,227,350 108% 15.8% A Single-family Residential C1 Vacant Land Residential O Residential Inventory BC Multi-family Commercial C1C Vacant Land Commercial C2C Commercial Land w Improvement Value DI Qualified Open Space Land F1 Commercial 66 TIF 14: Trinity Lakes FY2023 Budget to Actual Budgeted Actual FY2023 FY2023 FUND BALANCE CARRYOVER City of Fort Worth: $ 1,470,603.00 $ 1,471,783.01 Tarrant County $ 313,402.00 $ 310,169.72 Tarrant Regional Water District: $ 63,982.00 $ 63,974.20 Subtotal $ 1,847,987.00 $ 1,845,926.93 Other Revenue Interest Generated $ 62,475.00 $ 236,082.52 ITrinity Boulevard Phase 1 $ 1,324,950.00 $ 1,324,950.00 TI F Administration $ 84,000.00 1 $ 84,000.00 ENDING FUND BALANCE 67 TIF 15 : Stockyards/Nofthside LONG December 2, 2014 — December 31, 2034 1 925 acres W LU TIF 15 was created recognizing the historical and economic importance of the Fort Worth Stockyards and surrounding 2 neighborhoods — the growth and vitality of which is impeded ?BTH by inadequate infrastructure and pockets of persistent \ blight. The Stockyards/Northside TIF has been created toy, ar support the preservation and enhancement of the greater _ CH NO � I Stockyards area through strategic investment in public improvements. TIF 15 has experienced strong growth in recent years, fueled by the completion of TIF-supported development along Mule Alley and other new activity within the district, including the delivery of several new projects along North Main Street. Together, these investments have supported district-wide growth, with appraisals increasing o TIF Boundary nearly 20% year-over-year during 2022. ❑ty LI.IU 68 TIF 15 : Stockyards/Nofthside LONG December 2, 2014 - December 31, 2034 1 925 acres z W W 0 Major developments z • 2022-2023 was marked by continued growth in investment and a further rebounding of retail activity following the end of the COVID-19 28T" — _--- -- pandemic. The Hotel Drover has experienced tremendous success, with Average Daily Rates topping the market for Fort Worth. • With future phases of development committed under City and TIF- ZI EXCHANGE all supported development agreements, efforts are presently focused on planning and guiding these future phases, with an emphasis on complementary development within the core of the district that is consistent with the existing form-based code and historic overlay. • In 2023, the City of Fort Worth announced a partnership with the Fort Worth Hispanic Chamber of Commerce and Main Street America to facilitate community-based planning and development support for the Northside district. TIF Boundary City Limits 69 TIF 15 : Stockyards/Nofthside December 2, 2014 - December 31, 2034 1 925 acres FY23 Estimated TIF Balance: $1,218,248.00 Entities and Levels of Participation: A total of $31,302,667 has been committed to the • City of Fort Worth — 50% following projects: • Contributed $904,132 this FY • $6,302,667 for Mule Alley and E. Exchange Ave. • Tarrant County Hospital District — 0% streetscaping • Contributed $0 this FY • $25,000,000 for arenas and parking garages • Tarrant County College District — 50% • Contributed $166,035 this FY • Tarrant Regional Water District — 50% • Contributed $34,314 this FY • Tarrant County — 50% • Contributed $266,830 this FY Overall Performance Base value of TIF $173,277,642 Current taxable value of TIF $427,069,036 Total increase in taxable value to date $253,791,394 Percent increase in taxable value to date 146.5% • • Taxable value after termination $923,911,192 • • Total projected increase in taxable value $750,633,550 Total revenues produced by termination of TIF $46,494,200 Percent increase in taxable value by termination 433.2% Tax value of compound annual growth rate to date 11.94% Tax value trailing 5-year compound annual growth rate 15.62% Base value per acre $187,327 Current taxable value of TIF per acre $461,696 Projected taxable value per acre after termination $998,823 Increase in taxable value per acre to date $274,369 Increase in taxable value per acre by termination $811,496 Additional taxes at termination (vs. base value) $3,533,816 o$ OOT$ 006 ODE$ 006$ i ODS$ i • _ • _ 009$ i i OOL$ i ' 008$ 3 006$ o 000'T$ anjoAAuadadleuoiuPPV asesr am Lo f ;�r TIF 15: Stockyards / Northside (5-YEAR Growth by Land Use) of Total 5-yr Nominal Growth Total%5-yr Growth 5-yr CAGR Land Use 2018 Taxable Value 2023 Taxable Value Taxable Value Taxable Value Taxable Value Taxable Value July Certified m A 21,723,274 45,906,322 7.4%1 24,183,048 Q 111% 16.1% ID Y AC - 316,000 0.1% 316,000 - - B 534,089 1,244,995 0.2% 710,906 133% 18.4% C1 500,385 1,661,696 0.3% 1,161,311 232% 27.1% BC 1,515,126 3,305,034 0.5%I 1,789,908 118% r 16.9% m C1C 5,466,569 16,277,906 2.6%1 10,811,337 1 198% 24.4% C2C 3,821,616 10,437,989 1.7%1 6,616,373 1 173% 22.3% ° F1 165,814,260 504,163,414 81.7% 338,349,154 204% 24.9% F2 22,301,279 33,430,379 5.4%1 11,129,100 1 50% 8.4% z J2 600 600 0.0% - 0% 0.0% J3 72,962 58,316 0.0% (14,646) -20% -4.4%1 J5 88,155 76,829 0.0% (11,326) -13% -2 7% Total 221,838,315 616,879,4801 100.0% 1 395,041,165 178% 22.7% BC Multi-family Commercial A Single-family Residential C1C Vacant Land Commercial AC Single-family Interim Use C2C Commercial Land with Improvement Value B Multi-family Residential F1 Commercial C1 Vacant Land Residential F2 Industrial J2 Commercial Utility Gas Companies J3 Commercial Utility Electric Companies J5 Commercial Utility Railroads 73 TIF 15: Stockyards / Northside FY2023 Budget to Actual Budgeted Actual FY2023 FY2023 FUND BALANCE CARRYOVER City of Fort Worth: $ 1,113,220.00 $ 904,131.84 Tarrant County: $ 353,665.00 $ 266,830.16 Tarrant Regional Water District: $ 42,471.00 $ 34,314.38 Tarrant County College District: $ 205,512.00 $ 166,034.74 Subtotal $ 1,714,868.00 $ 1,371,311.12 New Isis Theatre Loan $ 181,818.00 $ - Interest Generated $ 6,755.63 $ 48,864.82 we 002,498,195.31 EXPENDITURES CFW Exchange Ave/Mule Alley $ 2,927,763.00 $ 1,226,248.46 TIF Administration $ 53,698.00 $ 53,698.00 TOTAL00 74 r C°rtact:lZ,392,6fj21 e `Vito too inert at: 8 F or m°rmert�epa om�c Deve�Op t. dev t�f E�or ebsite a is eon Or visit Our o\1 de artme�' teXaS' h w ww f° �rth '1w tt S. ,5