HomeMy WebLinkAboutOrdinance 26581-11-2023ORDINANCE NO.26581-11-2023
AN ORDINANCE APPROVING THE PROJECT AND FINANCING PLAN
FOR TAX INCREMENT REINVESTMENT ZONE NUMBER SIXTEEN,
CITY OF FORT WORTH, TEXAS (VEALE RANCH); MAKING VARIOUS
FINDINGS RELATED TO SUCH PLAN; PROVIDING A SEVERABILITY
CLAUSE; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, on September 23, 2023, the City Council of the City of Fort Worth ("City")
established Tax Increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas (Veale
Ranch) ("Zone") pursuant to Ordinance No. 2640-09-2023 and as authorized by Chapter 311 of
the Texas Tax Code ("Act"); and
WHEREAS, in accordance with Section 311.011(a) of the Act, on October 18, 2023, the
Board of Directors of the Zone ("Board") adopted a project plan and a financing plan for the Zone,
which are attached hereto as Exhibit "A" (collectively, the "Plan"), and recommended that the
Plan be approved by the City Council, as required by Section 311.011(d) the Act.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF FORT WORTH, TEXAS:
Section 1.
FINDINGS.
The City Council hereby makes the following findings of fact:
1.1 The statements and facts set forth in the recitals of this Ordinance are true and
correct.
1.2 The Plan includes all information required by the Act, including, but not limited to,
Sections 311.011(b) and (c) of the Act.
1.3 The Plan is feasible and conforms to the City's comprehensive plan.
Section 2.
APPROVAL OF THE PLAN
Based on the findings set forth in Section 1 of this Ordinance, the Plan is hereby approved.
Section 3.
DELIVERY OF THE PLAN TO THE TAXING ENTITIES.
The Economic Development Department is hereby directed to provide a copy of the Plan
to the governing body of each taxing unit that taxes real property located in the Zone.
Page 1
Ordinance Approving Project and Financing Plan
Tax Increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas
Section 4.
SEVERABILITY.
If any portion, section or part of a section of this Ordinance is subsequently declared
invalid, inoperative or void for any reason by a court of competent jurisdiction, the remaining
portions, sections or parts of sections of this Ordinance shall be and remain in full force and effect
and shall not in any way be impaired or affected by such decision, opinion or judgment.
Section 5.
EFFECTIVENESS.
This Ordinance takes effect and will be in full force and effect from and after its adoption.
AND IT IS SO ORDAINED.
ADOPTED AND EFFECTIVE: November 14, 2023
APPROVED AS TO FORM AND LEGALITY:
By� a)a&"
Tyler F. Wallach
Senior Assistant City Attorney
M&C: 23-0966
Page 2
Ordinance Approving Project and Financing Plan
Tax Increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas
CITY SECRETARY
Jannette S. Goodall
City Secretary
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EXHIBIT A
PLAN
Page 3
Ordinance Approving Project and Financing Plan
Tax Increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas
TAX INCREMENT REINVESTMENT ZONE
NUMBER SIXTEEN
CITY OF FORT WORTH, TEXAS
(VEALE RANCH TIF)
PROJECT PLAN
FINANCING PLAN
November 14 9 2023
PREPARED BY:
MUNICA.P, INC.
PUBLIC FINANCE
TAX INCREMENT REINVESTMENT ZONE
NUMBER SIXTEEN
CITY OF FORT WORTH, TEXAS
(VEALE RANCH TIF)
PROJECT PLAN AND FINANCING PLAN
TABLE OF CONTENTS
1. INTRODUCTION............................................................................................................... 1
1.1.
AUTHORITY AND PURPOSE..........................................................................................................1
1.2.
ELIGIBILITY REQUIREMENTS......................................................................................................1
1.3.
PRELIMINARY PLAN; HEARING...................................................................................................1
1.4.
CREATION OF THE ZONE............................................................................................................ 2
1.5.
BOARD RECOMMENDATIONS...................................................................................................... 2
1.6.
COUNCIL ACTION....................................................................................................................... 2
1.7.
SUMMARY OF RESULTS.............................................................................................................. 2
2. ASSESSMENT AND TAX COLLECTION PROCEDURES...................................................... 5
2.1
AUTHORITY AND PURPOSE........................................................................................................15
2.2
METHODOLOGY.........................................................................................................................5
2.3
APPEALS.................................................................................................................................... 6
2.4
TAXATION PROCEDURES............................................................................................................ 6
2.5
PENALTIES AND INTEREST......................................................................................................... 7
2.6
TAX SALE................................................................................................................................... 7
2.7
TAX RATES................................................................................................................................ 8
3. PROJECT PLAN............................................................................................................... 9
3.1. DESCRIPTIONS AND MAPS............................................................................................................. 9
3.2. PROPOSED CHANGES TO ORDINANCES, PLANS, CODES, RULES AND REGULATIONS ..................... 9
3.3. ESTIMATED NON -PROJECT COSTS................................................................................................ 9
3.4. RELOCATION OF DISPLACED PERSONS......................................................................................... 9
4. FINANCING PLAN..........................................................................................................10
4.1. ESTIMATED PROJECT COSTS.......................................................................................................10
4.2. PROPOSED PUBLIC IMPROVEMENTS............................................................................................10
4.3. ECONOMIC FEASIBILITY..............................................................................................................10
4.4. TIRZ PARTICIPATION LEVEL......................................................................................................12
4.5. ESTIMATED BONDED INDEBTEDNESS...........................................................................................15
4.6. ESTIMATED TIME FOR COSTS OR OBLIGATIONS..........................................................................15
4.7. METHOD OF FINANCING..............................................................................................................15
4.8. TOTAL APPRAISED VALUE...........................................................................................................16
4.9. ESTIMATED CAPTURED APPRAISED VALUE TAXABLE BY THE CITY............................................16
4.10. DURATION OF THE ZONE; TERMINATION...................................................................................16
5. ASSUMPTION AND LIMITATIONS.................................................................................. 18
6. LIST OF EXHIBITS......................................................................................................... 20
EXHIBIT A-1.1- MAP OF THE PROPERTY AND TIRZ ZONE
EXHIBIT A-1.2 - AERIAL MAP OF THE ZONE
EXHIBIT B - DESCRIPTION OF THE PROPERTY IN THE ZONE - LEGAL DESCRIPTIONS
EXHIBIT C-1.1 - PROJECTED ASSESSED VALUE - 2025
EXHIBIT C-1.2 - PROJECTED ASSESSED VALUE - 2026
EXHIBIT C-1.3 - PROJECTED ASSESSED VALUE - 2027
EXHIBIT C-1.4 - PROJECTED ASSESSED VALUE - 2028
EXHIBIT C-1.5 - PROJECTED ASSESSED VALUE - 2029
EXHIBIT C-1.6 - PROJECTED ASSESSED VALUE - 2030
EXHIBIT C-1.7 - PROJECTED ASSESSED VALUE - 2031
EXHIBIT C-1.8 - PROJECTED ASSESSED VALUE - 2032
EXHIBIT C-1.9 - PROJECTED ASSESSED VALUE - 2033
EXHIBIT C-1.10 - PROJECTED ASSESSED VALUE - 2034
EXHIBIT C-1.11 - PROJECTED ASSESSED VALUE - 2035
EXHIBIT C-1.12 - PROJECTED ASSESSED VALUE - 2036
EXHIBIT C-1.13 - PROJECTED ASSESSED VALUE - 2037
EXHIBIT C-1.14 - PROJECTED ASSESSED VALUE - 2038
EXHIBIT C-1.15 - PROJECTED ASSESSED VALUE - 2039
EXHIBIT C-1.16 - PROJECTED ASSESSED VALUE - 2040
EXHIBIT C-1.17 - PROJECTED ASSESSED VALUE - 2041
EXHIBIT C-1.18 - PROJECTED ASSESSED VALUE - 2042
EXHIBIT C-1.19 - PROJECTED ASSESSED VALUE - 2043
EXHIBIT C-1.20 - PROJECTED ASSESSED VALUE - 2044
EXHIBIT C-1.21- PROJECTED ASSESSED VALUE - 2045
EXHIBIT C-1.22 - PROJECTED ASSESSED VALUE - 2046
EXHIBIT C-1.23 - PROJECTED ASSESSED VALUE - 2047
EXHIBIT C-1.24 - PROJECTED ASSESSED VALUE - 2048
EXHIBIT C-1.25 - PROJECTED ASSESSED VALUE - 2049
EXHIBIT C-1.26 - PROJECTED ASSESSED VALUE - 2050
EXHIBIT C-1.27 - PROJECTED ASSESSED VALUE - 2051
EXHIBIT C-2.1 - PROJECTED ASSESSED VALUE - DEVELOPMENT YEARS 2025-2029
EXHIBIT C-2.2 - PROJECTED ASSESSED VALUE - DEVELOPMENT YEARS 2030-2034
EXHIBIT C-2.3 - PROJECTED ASSESSED VALUE - DEVELOPMENT YEARS 2035-2039
EXHIBIT C-2.4 - PROJECTED ASSESSED VALUE - DEVELOPMENT YEARS 2040-2044
EXHIBIT C-2.5 - PROJECTED ASSESSED VALUE - DEVELOPMENT YEARS 2045-2049
EXHIBIT C-2.6 - PROJECTED ASSESSED VALUE - DEVELOPMENT YEARS 2050-2051
EXHIBIT C-2.7 - PROJECTED ASSESSED VALUE - SUMMARY ALL YEARS
EXHIBIT D-1.1 - PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL
REAL PROPERTY TAXES AVAILABLE FOR TIRZ OBLIGATIONS
EXHIBIT D-1.2 - PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL
REAL PROPERTY TAXES AVAILABLE FOR THE CITY
EXHIBIT D-1.3 - PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL
REAL PROPERTY TAXES AVAILABLE FOR THE CITY AFTER RELEASE FROM THE TIRZ
EXHIBIT D-1.4 - PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL
REAL PROPERTY TAXES AVAILABLE FOR THE CITY - SUMMARY
EXHIBIT E - MAP AND DESCRIPTION OF THE PROPOSED USES OF THE PROPERTY
(CURRENT CONCEPT PLAN)
EXHIBIT F - LIST OF PARCELS IN THE ZONE
EXHIBIT G-1- PROJECT COSTS
EXHIBIT G-2 - AUTHORIZED IMPROVEMENTS
EXHIBIT H - CURRENT APPRAISED VALUE OF THE ZONE (BASE YEAR)
1. INTRODUCTION
1.1. AUTHORITY AND PURPOSE
The City of Fort Worth, Texas, a Texas home rule municipal corporation (the "City"), has the
authority under Chapter 311, Texas Tax Code, as amended (the "Act") to designate a contiguous
or noncontiguous geographic area within the corporate limits of the City and within the
extraterritorial jurisdiction of the City as a tax increment reinvestment zone to promote
development or redevelopment of the area if the governing body of the City (the "City Council")
determines that development or redevelopment would not occur solely through private investment
in the reasonably foreseeable future, that the tax increment reinvestment zone is feasible, and that
creation of the tax increment reinvestment zone is in the best interest of the City and the property
in the tax increment reinvestment zone. The purpose of a tax increment reinvestment zone is to
facilitate such development or redevelopment by financing the costs of public works, public
improvements, programs, and other projects benefiting the tax increment reinvestment zone, plus
other costs incidental to those expenditures, all of which costs are authorized by the Act.
1.2. ELIGIBILITY REQUIREMENTS
Except as provided in the Act, an area may be designated as a tax increment reinvestment zone if
a petition describing the area to be designated as a reinvestment zone is submitted to the City
Council by the owners of property constituting at least fifty percent (50%) of the appraised value
of the property in the area according to the most recent certified appraisal roll for the county in
which the area is located.
(a) The Zone. By City Council action on September 12, 2023, the City created a tax
increment reinvestment zone to be known as "Tax Increment Reinvestment Zone Number Sixteen,
City of Fort Worth, Texas (Veale Ranch TIF)" (the "Zone" or "TIRZ") that includes approximately
5181.922 acres depicted on Exhibit A and described on Exhibit B (the "Properly"). The Property
meets the eligibility requirements of the Act and the City Council further finds and declares that
the Property included in the proposed Zone meets the criteria and requirements of Section
311.005(a)(4) because the petition requesting the designation of the TIRZ includes the owners of
property constituting at least fifty percent (50%) of the appraised value of the Property according
to the most recent certified appraisal roll for Tarrant County and Parker County, which are the
counties in which the Property is located. If the public works, public improvements, programs,
and other projects are financed as contemplated by the Final Plan (hereinafter defined), the City
envisions that the Property will be developed to take full advantage of the opportunity to enhance
the City and to all of the region improved developments.
1.3. PRELIMINARY PLAN; HEARING
Before the City adopted the ordinance designating the Zone, the City Council prepared a
preliminary reinvestment zone financing plan in accordance with the Act and, on September 12,
2023, held a public hearing on the creation of the proposed zone and its benefits to the City and to
the Property, at which public hearing interested persons were given the opportunity to speak f%or
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and against the creation of the Zone, the boundaries of the Zone, and the concept of tax increment
financing, and at which hearing the owners of the Property (collectively the "Original Owners")
were given a reasonable opportunity to protest the inclusion of the Property in the Zone. The
requirement of the Act for a preliminary reinvestment zone financing plan was satisfied by the
preliminary plan dated September 12, 2023 (the "Preliminm Plan"), the purpose of which is to
describe, in general terms, the public works, public improvements, programs, and other projects
that will be undertaken and financed by the Zone. A description of how such public works,
improvements, programs, and projects are to be undertaken and financed will be determined by
the Final Plan (hereinafter defined), which require approval by the Board and by the City Council.
1.4. CREATION OF THE ZONE
Subsequent to the above -referenced public hearing, the City Council adopted Ordinance No.
2640-09-2023 on September 12, 2023 (the "Creation Ordinance") in accordance with the Act creating
the Zone after the City Council found that development or redevelopment of the Property would
not occur solely through private investment in the reasonably foreseeable future, that the Zone is
feasible, and that creation of the Zone is in the best interest of the City and the Property. The
ordinance creating the Zone appointed a Board of Directors for the Zone initially consisting of
nine (9) members (the "Board").
1.5. BOARD RECOMMENDATIONS
Upon the creation of the Zone, the Board, during its October 18, 2023, meeting, reviewed the Final
Project and Finance Plan for Tax Increment Reinvestment Zone Number Sixteen, City of Fort
Worth (Peale Ranch TIF) (the "Final Plan"), and approved and recommended to the City Council
the Final Plan, pursuant to which the City will contribute a portion of the ad valorem tax increment
(the "Tax Increment") into a tax increment fund created by the City and segregated from all other
funds of the City (the "TIRZ Fund") to the costs of public works, public improvements, programs,
and other projects benefiting the Zone.
1.6. COUNCIL ACTION
The ('-Icy Council, taking into consideration the recommendations of the Board, approved the Final
Plan on November 14, 2023.
1.7. SUMMARY OF RESULTS
As real property taxes are generated on an ad valorem basis from assessed values, it is first
necessary to estimate the future assessed value resulting from the Zone. This plan provides
assessed value information based on the following:
• The real property tax rate remains static at the fiscal year 2023 level in future yearsi
• The City's contribution of a portion of the increment attributable to ad valorem taxes
levied;
• The Zone is anticipated to include the 5181.922 acres comprising the Property; and
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• The City has committed to using 65.00% of the incremental revenues generated from the
Property. See Section 4.4 for additional details.
In summary, the TIRZ financing analysis indicates that assuming two percent (2.00%) annual
inflation through 2052 (and after completion of all phases), the Zone is estimated to have an
incremental value at build out of $13,126,355,975 as of January 1, 2052.
Table 1-A below provides the projected total and incremental assessed value for the Zone in 2051
at buildout. Refer to Exhibits C-1.1 to C-1.27, Exhibits C-2.1 to C-2.7, and Exhibits D-1.1 to
D-1.4, attached hereto, for more information on the projected incremental value for each year.
Table 1-A
Projected Assessed Values
Year Projected Value at Incremental Value
13UHdout Base Value' At Buildout
2051 $13,131,612,306 $5,256,331 $13,126,355,975
'The base value of $5,256,331 represents the allocable share of the 2023 taxable assessed value shown in TAD records
allocated based on the proportional acreage of the applicable Parcels within the Zone.
The assessed values displayed in Table 1-A above are the basis for estimating incremental
real property taxes. The projected incremental taxes are shown in Table 1-B below. The total
projected value as of January 1, 2051, is $13,131,612,306 with an incremental value of
$13,126,355,975. Table 1-B illustrates the projected assessed value for taxes due as of January
2051, assuming two percent (2.00%) annual inflation.
Table 1-B
Projected Incremental Real Property Tax Revenue
Total Projected Total Projected
Total Projected Incremental Incremental Tax
Taxable Value at Taxable Value at Revenue Through
Buildout as of Buildout as of Buildout as of
Jurisdiction Januar 1 2051 Base Vales' J ' 205' Tan- ry 3' ''^`1 y � January 1� 1 J(I llLLa J1� GVJ
City of Fort Worth $13,131,612,306 $5,256,331 $13,126,355,975 $1,174,917,039
'The base value of $5,256,331 represents the allocable share of the 2023 taxable assessed value shown in TAD records allocated
based on the proportional acreage of the applicable Parcels within the Zone.
Refer to Exhibits D-1.1 to D-1.4 for projected tax increment revenues for each year.
The financing plan for the categories of public works and Proposed TIRZ Projects (the "Proposed
TIRZ Projects", defined in the Veale Ranch Development Agreement as both the "Authorized
Improvements" and "TIRZ Improvements") contemplates the issuance of special revenue bonds
by the City secured by special PID Assessments ("PID Assessments") levied on property within
the Veale Ranch Public Improvement District (the "PID"). The bonds that will be secured by
the PID Assessments will be referred to as the "PID Bonds".
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Pursuant to Section 4.1(f) and (g) of the Veale Ranch Development Agreement, which is recorded
with the Fort Worth City Secretary as City Secretary Contract Number 59003, as it currently exists
or may be amended from time -to -time in the future, (the "Veale Ranch Development Agreement")
between the City and the Original Owners, a portion of the total Authorized Improvement costs
are proposed to be funded with PID Bonds. As a result, real property tax increment revenues will
be used to pay a portion of the Project Costs by offsetting the PID Assessments imposed on the
property within the PID. Throughout this Final Plan, capitalized terms referenced in the Veal
Ranch Development Agreement have the meanings assigned to them in that agreement.
(f) In the event the TIRZ Revenue from a Lot or Parcel exceeds the amount
allocated in the Service and Assessment Plan (SAP) to offset or pay a portion of
the PID Assessments thereon in any given year, the Surplus TIRZ Revenue shall
be retained in the TIRZ Fund and used in accordance with the provisions of Section
4.3 of the Veale Ranch Development Agreement. TIRZ Revenue, Lot and Parcel,
and Service and Assessment Plan (SAP) are all as defined in the Veale Ranch
Development Agreement.
(g) Original Owners and City acknowledge that after the tax increment on a Lot or
Parcel has been collected as provided in Section 4.1 (e) of the Veale Ranch
Development Agreement, such tax revenues shall be deposited into the TIRZ Fund
and applied in accordance with the provisions of Section 4.3 of the Veale Ranch
Development Agreement. The TIRZ may include sub -zones coinciding with the
Improvement Area from which the PID Assessments are being collected.
Notwithstanding the City's creation of the TIRZ and the allocation of a portion of
the City's tax revenues hereunder, at such time as a portion of the Property is
developed and improved for commercial, retail, industrial or other non-residential
purposes which would qualify for economic incentives provided under any of the
City's economic development programs, the City agrees to consider utilizing the
remainder of any ad valorem tax revenues available to the City (including tax
revenues available after the PID Assessments have been paid in full), and any other
available monies, to promote the economic development of such Parcel, consistent
with the provisions of this Veale Ranch Tax Increment Reinvestment Zone Number
Sixteen Project and Finance Plan. Improvement Area is as defined in the Veale
Ranch Development Agreement.
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MuniCap 14
2. ASSESSMENT AND TAX COLLECT ION PROCEDURES
2.1 AUTHORITY AND PURPOSE
Pursuant to the Texas Tax Code, all taxable property is appraised at its market value as of January
1 of each year. Each county in Texas is served by an appraisal district, which determines the value
of all that county's taxable property. Generally, local governments that collect property taxes, such
as counties, cities, and school districts, are members of the appraisal district. The methodology
and procedures set forth in this Section 2 are accurate as of the date of this Final Plan with the
understanding that the same may be revised from time -to -time through legislative or other
regulatory changes. To the extent there is a conflict between this Section 2 and any applicable
conflicting laws or regulations, then the laws or regulations then in effect will govern.
2.2 METHODOLOGY
Each county appraisal district determines the value of all taxable property within the county
boundaries. Tax Code Section 25.18 requires appraisal districts to reappraise all property in its
jurisdiction at least once every three years. Tax Code Section 23.01 requires that appraisal districts
comply with the Uniform Standards of Professional Appraisal Practice if mass appraisal is used,
and that the same appraisal methods and techniques be used in appraising the same or similar kinds
of property. Individual characteristics that affect the property's market value must be evaluated in
determining the property's market value.
Before appraisals begin, the appraisal district compiles a list of taxable property. The list contains
a description and the name and address of the owner for each property. In a mass appraisal, the
appraisal district then classifies properties according to a variety of factors, such as size, use and
construction type. Using data from recent property sales, the appraisal district appraises the value
of typical properties in each class. Taking into account differences such as age or location, the
appraisal district uses typical property values to appraise all the properties in each class.
With few exceptions, Tax Code Section 23.01 requires taxable property to be appraised at market
value as of January 1. Market value is the price at which a property would transfer for cash or its
equivalent under prevailing market conditions if:
• it is exposed for sale in the open market with a reasonable time for the seller to find a
purchaser;
• both the seller and the purchaser know of all the uses and purposes to which the property
is adapted and for which it is capable of being used and of the enforceable restrictions on
its use; and
• both the seller and purchaser seek to maximize their gains, and neither is in a position to
take advantage of the exigencies of the other.
Source: hops://comptroller. texas.gov/taxes/property-tax/valuing-property.php
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2.3 APPEALS
According to the Tarrant County Appraisal District ("TAD") and Parker County Appraisal District
("PCAD"), property owners may utilize the TAD or PCAD appeal procedures if they have a
concern about:
• the market or appraised value of the property;
• unequal appraisal of the property compared to other properties;
• the inclusion of the property on the appraisal roll;
• any exemptions that may apply to the property owner;
• the qualification for an agricultural or timber appraisal;
• the taxable status of the property;
• the local governments which should be taxing the property;
• the ownership of property;
• a change of use of land receiving special appraisal; and/or
any action taken by the chief appraiser, TAD or Appraisal Review Board ("ARB") that
applies to and adversely affects the property.
If property owners cannot resolve their concern informally with the TAD or PCAD staff, they may
have their cases heard by the ARB. The ARB is an independent board of citizens that review
problems with appraisals or other concerns listed above. It has the power to order the TAD or
PCAD to make the necessary changes to solve problems. If a property owner files a written
request for an ARB hearing (called a notice of protest) on or before May 31 (or 30 days after the
notice of appraised value was mailed to the property owner, whichever is later), the ARB will
set the case for a hearing. The property owner will receive written notice of the time, date, and
place of the hearing. After it decides the case, the ARB must send them a copy of its order by
certified mail. If the property owner is not satisfied with the decision, it has the right to appeal. If
it chooses to go to court, the property owner must start the process by filing a petition within
60 days of the date it receives the ARB's order. In certain cases, as an alternative to filing an
appeal in district court, the property owner may file not later than the 45th day after it receives
notice of the ARB order a request for binding arbitration with the TAD or PCAD. In certain
cases, originating in certain counties, as an alternative to filing an appeal in district court, the
property owner may appeal to the State Office of Administrative Hearings (SOAH). An appeal to
SOAH is initiated by not later than the 30th day after the property owner receives notice of the
ARB's order by filing with the chief appraiser of the TAD or PCAD a notice of appeal.
2.4 TAXATION PROCEDURES
The assessment and property tax process for each tax year includes the steps shown in Table 2-
A on the following page.
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MuniCap 16
Table 2-A
Property Tax Timeline
Date(s)
Event
January 1
CADs are required to appraise property on this date. A lien attaches to each taxable
property to ensure property tax payment.
January 1 - April 30
CAD completes appraisals and processes applications for exemptions.
April - May
Appraisal districts send notices of appraised value.
May 1
Appraisal review board begins hearing protests from property owners.
July 1
Local taxing units may impose additional penalties for legal costs related to collecting
unpaid taxes.
August - September
Local taxing units adopt tax rates.
October 1
Local taxing units (or county tax assessor -collector, acting on their behalf) begin
sending tax bills to property owners.
January 1
Taxes due to local taxing units (or county tax assessor -collector, if acting on their
behalf).
February 1
Local taxing units begin charging penalties and interest far unpaid tax bills.
2.5 PENALTIES AND INTEREST
According to the Texas Comptroller, if taxes are not paid by January 31St, penalties and
interest will accrue are shown in Table 2-13.
Table 2-B
Penalties and Interest
If Tax Paid In: Penalty Interest Total
February
6%
+
1 %
= 7%
March
7%
+
2%
= 9%
April
8%
+
3%
= 11%
May
9%
+
4%
— 13%
June
10%
+
5%
— 15%
Jul
12%
+
6%
= 18%
Penalties reach a maximum of 12% and interest of 1 % is added each month after the due date.
All real property accounts not paid in full by June 30th of the year in which they become
delinquent will be referred to the delinquent tax attorney for enforced collection and will incur
an additional penalty equal to 15% - 20% of the total taxes, penalties, and interest due.
2.6 TAX SALE
According to the Tarrant County Tax Collector's website and the Parker County Tax Collector's
website, tax sales are held once orders of sale are issued from the district courts in reference to
tax judgments for delinquent taxes. Real property being sold as a result of a foreclosure to satisfy
delinquent taxes is required by Texas law to be sold on the first Tuesday of the month. All
counties have sales on the same day.
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2.7 TAX RATES
Tax rates are set on an annual basis by the City. For fiscal year 2024, the real property tax rate
in the City is $0.6725000 per $100 of assessed value.
The City tax rates have fluctuated in past years. It is likely that the tax rate will continue to change
over time; for purposes of this study, however, it is assumed that the tax rate will remain at its
current level in future years.
Table 2-C below provides historical tax rates from fiscal years 2018 to 2024.
Table 2-C
Historical Tax Rates 2018-2024
City Tax Rate
City Tax Rate
City Tax Rate
Per $100
Per $100 Assessed
Per $100
Fiscal
Assessed Value
Value
Assessed Value
Year
(M&";
(I&c;
(Total)
2018-19
0.616753
0.168247
0.785000
2019-20
0.595000
0.152500
0.74750'0
2020-21
0.595000
0.152500
0.747500
2021-22
0.585000
0. 14 75 00
0.732500
2022-23
0.565000
0.147500
0.712500
2023-24 0.525000 0.147500 0.672500
Source: TAD and City website.
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3. PROJECT PLAN
3.1. DESCRIPTIONS AND MAPS
Existing Uses and Conditions. The Property is currently located within both the City's corporate
boundaries and the City's extraterritorial jurisdiction in Tarrant County and Parker County, Texas.
The Property is comprised of approximately 5181.922 acres.
The Property is underdeveloped, and there is limited public infrastructure to support development.
Development will require public infrastructure that: (1) the City cannot provide; and (2) will not
be provided solely through private investment in the foreseeable future. A map of the Property and
the Zone are shown on Exhibit A.
Proposed Uses. The Property is zoned in accordance with the City's Comprehensive Plan and
Zoning Ordinance (the "City's Comprehensive Plan and Zoning Ordinance"). A map of the
Property is shown on Exhibit A-1 and A-2 and the property within the TIRZ is anticipated to be
used primarily for commercial, industrial, retail, multi -family, and residential uses.
Property Description. The descriptions of the Parcels that comprise the Property are provided on
Exhibit B. The list of Parcels in the Zone is shown in Exhibit F.
3.2. PROPOSED CHANGES TO ORDINANCES, PLANS, CODES, RULES AND REGULATIONS
Development of the Property will involve only those changes established by the City pursuant to
the applicable City standards and as contemplated in the Veale Ranch Development Agreement.
3.3. ESTIMATED NON -PROJECT COSTS
Non -project costs are funds that will be spent to develop in the Zone but will not be financed by
the Zone, which are estimated at approximately $604,500,000 for the total property within the
Zone.
3.4. RELOCATION OF DISPLACED PERSONS
No persons will be displaced or relocated due to the creation of the Zone or implementation of the
Final Plan.
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MuniCap (9
4. FINANCING PLAN
4.1. ESTIMATED PROJECT COSTS
The total project costs of the Zone (the "Project Costs") include the Administrative Costs defined
below and the costs of the Proposed TIRZ Projects as well as related interest expense are estimated
to be approximately $812,500,000, as set forth in Exhibit G-1. The Project Costs for
administration of the Zone shall be the actual, direct costs paid or incurred by or on behalf of the
City to administer of the Zone (the "Administrative Costs"). The Administrative Costs include
the costs of professional services, including those for planning, engineering, and legal services
paid by or on behalf of the City. The Administrative Costs also include organizational costs,
including the costs of conducting studies, the cost of publicizing the creation of the Zone, and the
cost of implementing the project plan for the Zone paid by or on behalf of the City. The
Administrative Costs shall be paid each year from the TIRZ Fund before any other Project Costs
are paid.
4.2. PROPOSED PUBLIC IMPROVEMENTS
Categories of Proposed TIRZ Projects. The Proposed TIRZ Projects that are proposed to be
financed within the Zone include, but are not limited to: roadway improvements, including
excavation and street paving, sanitary sewer improvements, storm sewer improvements, water
distribution improvements, public landscaping, and engineering fees, as further specified in
Exhibit G-2. All Proposed TIRZ Projects shall be designed and constructed in accordance with
the applicable City standards and shall be reviewed, inspected, approved, and accepted by the City.
At the discretion of the City, some of the Proposed TIRZ Projects that are to be financed with the
TIRZ increments may be owned by the City but maintained by a third party as may be agreed by
the City from time to time.
Locations of Proposed TIRZ Projects. The locations of the Proposed TIRZ Projects to be
constructed within the Zone are currently only estimates. The locations may be revised by City
Staff without amending the Final Plan.
4.3. ECONOMIC FEASIBILITY
The Property within the TIRZ boundary is currently zoned for agricultural and residential uses. As
shown in Exhibit H, the current aggregate taxable assessed value of the property in the
development based on the proportional acreage of the applicable Parcels is $5,256,331 (shown as
assessed value in the TAD and PCAD).
For purposes of this Plan, economic feasibility has been evaluated over the term of the Zone based
on the projected taxable value growth as shown in the projected incremental assessed values and
projected incremental taxes shown in Exhibits C-1.1 to C-1.27, Exhibits C-2.1 to C-2.7, and
Exhibits D-1.1 to D-1.4. This evaluation focuses only on `direct' financial benefits (i.e., projected
tax revenues from new development in the Zone) of the Proposed TIRZ Projects to be constructed
within the Zone and does not take into consideration the potential `multiplier effect' of this
MuniCap 110
development towards new development outside the Zone and the non -property tax revenue -related
benefits like job creation to the properties within and outside of the Zone. The new proposed
development could not occur without the Proposed TIRZ Projects required to be constructed within
the Zone. The total projected value of the new development as of January 1, 2082, is $302,459,948
with an incremental value of $302,414,724. The new development is projected to generate
approximately $2,698,731,244 in projected incremental real property taxes during the anticipated
term of the Zone as shown in Table 4-A below.
Table 4-A
Projected Incremental Tax Revenue
Total Projected
Total Projected
Total Projected
Annual Incremental
Incremental Tax
Incremental Value
Tax Revenue at
Revenue during
during the Term of
Buildout (Due by
the Term of the
Jurisdiction the TIF?
January 31, 2051)
TIRZ
City of Fort Worth $302,459,948
$88,274,744
$2,698,731,244
Approximately 35.00% of the new tax revenue generated from the new development within the
Zone will be retained by the City. The remaining 65.00% of the new tax revenue generated by the
new development within the Zone will be available to pay for Project Costs until the earlier of (i)
completion of all Project Costs, or (ii) the term of the Zone expires on December 31, 2105. Upon
release after 30 years or expiration or termination of the Zone, 100.00% of all tax revenue
generated within the Zone will be retained by the City.
These projections assume a two percent (2.00%) annual property value inflation factor. As shown
in Exhibits D-1.1 to D-1.4, the total anticipated TIRZ contribution amount towards the Project
Costs is projected to be $2,698,731,244. As a result, the TIRZ is anticipated to generate
$1,754,175,308 for payment of Project Costs. The total amount of projected incremental revenue
available to the City is $944,555,935 (i.e. $2,698,731,244 - $1,754,175,308). As shown in Exhibit
D-1.4, following the release of Parcels from the TIRZ, 100% of the tax revenue generated on those
Parcels will be available to the City, therefore, $8,031,614,977 in excess incremental real property
taxes during the anticipated term of the Zone for payment of costs of the City, demonstrating
economic feasibility of the proposed TIRZ structure.
Table 4-13 on the following page shows the projected TIRZ contribution by each participating
jurisdiction.
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MuniCap 111
Table 4-B
Projected TIRZ Contribution
Total
Total Projected
Projected
Incremental Tax
Incremental
Total Projected
Total Projected
Total Projected
Revenue
Tax Revenue
Incremental Tax
Incremental Tax
Incremental Tax
Retained by the
Retained by
Revenue during
Revenue Available
Revenue
City after release
the City at the
the Term of the
for payment of
Retained by the
from TIRZ
end of the
Jurisdiction TIRZ
Project Costs
City
Obligations'
Term-'
City of Fort Worth $2,698,731,244
$1,754,175,308
$944,555,935
$7,087,059,042
$8,031,614,977
Represents the projected incremental tax revenues generated from the Property.
2 Represents the total projected incremental tax revenue available for the payment of the Project Costs.
3 Represents the total projected incremental tax revenue available for the City after payment of Project Costs.
Represents the total projected incremental tax revenue available for the City after release of Parcels from TIRZ obligations.
5 Represents the total projected incremental tax revenue available for the City assuming the TIRZ contribution is fully paid out
4.4. TIRZ PARTICIPATION LEVEL
For properties within the TIRZ, 65% of the total City incremental real property tax revenue will
be pledged to the TIRZ Fund as shown in Table 4-C below.
Table 4-C
TIRZ Participation by Entity
Jurisdiction TIRZ Participation level
City of Fort Worth 65%
Pursuant to Section 4.2 of the Veale Ranch Development Agreement, there is a potential for an
increase in the TIRZ participation level based on the conditions below:
4.2 Increase in City Participation in TIRZ.
(a) The Original Owners and the City acknowledge and agree that (A) the
Developer of an Improvement Area may periodically request the City to (i) levy
PID Assessments on the Property in such Improvement Area consistent with
Section 3.2 of the Veale Ranch Development Agreement ("Assessment Request");
(ii) issue PID Bonds consistent with Section 3.4 of the Veale Ranch Development
Agreement ("Bond Request"); and (iii) zone any portion of the Property in
accordance with the Concept Plan ("Zoning Request"); and that (B) the City will
use commercially reasonable efforts to comply with such requests within all
applicable legal constraints.
(b) In the event a Developer makes an Assessment Request or, Bond Request, or
an Original Owner makes a Zoning Request and the City willfully refuses to comply
with such request after the preconditions set forth below have all been met, then the
MuniCap 112
TIRZ Revenues to be paid by the City into the TIRZ Fund will automatically
increase from sixty-five percent (65%) to one hundred percent (100%) in
accordance with the terms of this Section 4.2 of the Veale Ranch Development
Agreement ("TIRZ Escalation").
Assessment Request
1. In order for the TIRZ Escalation to apply for an Assessment Request, all
of the following preconditions must occur:
I. Developer must meet all of its obligations under Section 3.2 of the
Veale Ranch Development Agreement.
II. Developer must complete construction of all Authorized
Improvements for which a PID Assessment will be levied within the
applicable Improvement Area.
III. Developer must ensure that ownership of all Authorized
Improvements has been transferred to, or is legally ready to be
transferred to, the City, where appropriate.
IV. Developer must provide a complete list of all properties to be
subject to PID Assessment, including, but not limited to, legal
descriptions and owner information.
V. Developer must execute all necessary and customary contracts,
including, but not limited to, a Landowner Consent Certificate and
agricultural waiver agreement, if requested by the City.
VI. City's PID Administrator has verified all of the information
submitted to the City by the Developer.
VII. Developer must be current on all its legally required real
property filings for the PID.
VIII. Developer must not be in default under any other agreement
with the City relating to the PID or any Authorized Improvements,
including, but not limited to, any community facilities agreements,
the Master Reimbursement Agreement, any phase -specific
Reimbursement Agreements, and any continuing disclosure
agreements.
IX. Developer has provided to the City any and all necessary and
accurate information to be included in the SAP, including, but not
limited to, any applicable updates thereto, for review by the City and
its PID Administrator at least ten weeks prior to the proposed date
MuniCap 113
for adoption of an Assessment Ordinance to afford the City and its
consultants sufficient enough time to confirm the completeness
and accuracy all of the submitted information before placing the
same on a City Council agenda for consideration.
2. Notwithstanding anything to the contrary, the TIRZ Escalation for an
Assessment Request will not be effective if the City's ability to levy PID
Assessments is prevented, either in whole or in part, by any actions or
inactions of the Developer. Landowner Consent Certificate, Master
Reimbursement Agreement, PID Administrator, Assessment Ordinance are
all as defined in the Veale Ranch Development Agreement.
ii. Bond Request
1. In order for the TIRZ Escalation to apply for a Bond Request, all of the
following preconditions must occur:
I. Developer must comply with all of the conditions set forth above
in Section (b)i of the Veale Ranch Development Agreement.
It. Developer must fully comply with its obligations under Section
3.4 of the Veale Ranch Development Agreement.
2. Notwithstanding anything herein to the contrary, the TIRZ Escalation for
a Bond Request will not be effective if:
I. The City's ability to issue PID Bonds is prevented, either in whole
or in part, by any actions or inactions of the Developer;
II. Sufficient revenues in the TIRZ Fund exist to pay Developer the
same amount as the PID Bonds would have produced and such
revenues are actually paid out to Developer;
III. Developer requests that PID Bonds be issued as rated securities
and the PID Bonds are rated below investment grade by one or
nationally recognized ratings agencies; or
IV. PID Bonds are not marketable (as determined by an
underwriter).
iii. Zoning Request
1. In order for the TIRZ Escalation to apply for a Zoning Request, all of the
following preconditions must occur:
MuniCap 114
I. Original Owner must submit an application to the City to zone the
Parcel or Lot in compliance with the Concept Plan (the, "Concept
Plan"), in effect on the Effective Date (the, "Effective Date") or
amended thereafter by mutual agreement of the City and the
Original Owners.
II. City Council must deny the Original Owner's Zoning Request.
III. The TIRZ Escalation will only apply to an initial Zoning Request
by the Original Owner for a particular Parcel or Lot (i.e., not a
subsequent request to re -zone the Property).
IV. The TIRZ Escalation shall apply if the City subsequently re-
zones such Property on its own action in a manner inconsistent with
the Concept Plan (as of the date of re -zoning) and not upon the
request of the Original Owner."
Additional information about the dispute resolution process and the duration of the
TIRZ Escalation is set forth in the Veale Ranch Development Agreement.
4.5. ESTIMATED BONDED INDEBTEDNESS
The 5181.922 acres comprising the Zone will also be located within the PID. It is anticipated that
PID Bonds or other similar debt obligations may be incurred in the future, in which a credit in the
amount equal to 65.00% of the City total incremental real property tax revenue for properties
within the Zone will be made to offset the PID Assessment imposed on the property in the PID.
4.6. ESTIMATED TIME FOR COSTS OR OBLIGATIONS
The Project Costs are estimated to be incurred within the term of the TIRZ. The Administrative
Costs will be incurred annually and will continue to be collected until all Project Costs are
reimbursed or the term of the Zone has expired.
4.7. METHOD OF FINANCING
The City, in the future, will pay (using the TIRZ funds) the Project Costs as annual TIRZ
contributions. The Final Plan shall obligate the City to pay from the TIRZ Fund annual TIRZ
contributions related to the Project Costs, which shall be reviewed and approved by the City. Funds
deposited into the TIRZ Fund shall always first be applied to pay the Administrative Costs. After
the Administrative Costs have been paid, funds in the TIRZ Fund shall next be used to pay or
reimburse the Project Costs in accordance with Section 4.3(a) of the Veale Ranch Development
Agreement. All payments of Project Costs shall be made solely from the TIRZ Fund and from no
other funds of the City unless otherwise approved by the respective governing body, and the TIRZ
Fund shall only be used to pay the Project Costs. The Final Plan shall obligate the City to deposit
into the TIRZ Fund each year for the duration of the Zone a portion of the Tax Increment calculated
as a millage rate per $100 of the taxable assessed value in the Zone that equals 65.00% of the
MuniCap 115
incremental property taxes collected in the Zone for years one through eighty-two (1-82).
Reference Section 4.4 for TIRZ Escalation.
4.8. TOTAL APPRAISED VALUE
The current total taxable assessed value of taxable real property in the Zone is $5,256,331 as shown
in Exhibit H. It is estimated that upon expiration of the term of the Zone, the total appraised value
of taxable real property in the Zone is estimated to be $302,459,948.
4.9. ESTIMATED CAPTURED APPRAISED VALUE TAXABLE BY THE CITY
The captured appraised value of the Property taxable by the City for a year is the total taxable
value of the Property for that year less the tax increment base of the Property. The tax increment
base of the Property is the total taxable value of the Property for the year in which the Zone was
designated. If the Zone is created during calendar year 2023, the tax increment base of the Property
will be $5,256,331 as shown in Exhibit H.
4.10. DURATION OF THE ZONE; TERMINATION
The stated term of the Zone shall be eighty-three (83) years and commence on September 12, 2023
(base value as of January 1, 2023), and shall continue until December 31, 2105, unless otherwise
terminated in accordance with this section, Section 4.1(e) of the Veale Ranch Development
Agreement, below, and the Act. Applicable TIRZ revenues will be collected and deposited over a
period of eighty-two (82) years with the final year being solely dedicated to winding down the
TIRZ. The City shall have the right to terminate the Zone prior to the expiration of its stated term
if all the Project Costs have been paid. If upon expiration of the stated term of the Zone, Project
Costs have not been paid, the City has no obligation to pay the shortfall. The provisions of this
section shall be included in the ordinance that creates the Zone. Nothing in this section is intended
to prevent the City from extending the term of the Zone in accordance with the Act.
(e) Subject to approval by City Council, the TIRZ shall be created to have a term of
eighty-three (83) years and expire pursuant to Section 311.017 of the Texas Tax Code.
Applicable TIRZ Revenues will be collected and deposited into the TIRZ Fund over a
period of eighty-two (82) years with the final year being solely dedicated to winding
down the TIRZ. At such time as the Assessment levied on an individual Lot or Parcel
has been paid in full, tax revenues from such Lot or Parcel shall no longer be used to
pay any Assessments or portion thereof and all of such tax revenues thereafter shall be
applied as provided in Section 4.3 of the Veale Ranch Development Agreement.
Notwithstanding the preceding, in the event Assessments levied on a Lot or Parcel have
a term of less than thirty (30) years (or the City does not levy Assessments on such Lot
or Parcel), the tax revenue shall continue to be paid into the TIRZ Fund through the
thirtieth (30th) year and used in accordance with the provisions of Section 4.3 of the
Veale Ranch Development Agreement. In determining if Assessments are being levied
on a Lot or Parcel for a term of thirty (30) years, the Parties intend for the City to collect
a total of thirty (30) annual payments of TIRZ Revenues for each Lot or Parcel and to
deposit such payments into the TIRZ Fund. The date of such payments, based on timing
of collections and reimbursement of Assessments, may extend longer than thirty (30)
MuniCap 116
years, but such total term shall be considered "a term of 30 years." The collection of
TIRZ Revenue shall not be triggered until such Lot or Parcel is (i) annexed into the
corporate limits of the City and made subject to taxation by the City, and (ii)
Completion of Construction of the Authorized Improvements serving such Lot or
Parcel has occurred.
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MuniCap 117
5. ASSUMPTION AND LIMITATIONS
The valuation of property for real property tax purposes is determined by the Tarrant Appraisal
District and Parker County Appraisal District. This plan attempts to estimate how the TAD and
PCAD may estimate the value of the subject properties in the future. The values estimated by
the TAD and PCAD will almost certainly differ from the estimates included in this report. Values
can change significantly over time, and these changes can be significantly higher or lower than
values in previous years. Determining property values for tax purposes is not as straight forward
or as simple as the analysis in this report. Many factors not considered in this report may impact
actual future values. Furthermore, property values are not likely to be consistent from year to year.
The TAD and PCAD often relies on market data to estimate the value of property. Property values
can be appealed, competition can be greater, national, or local market conditions can change; in
short, there are many factors that can affect the valuation of property. These factors make the
projection of future values an imprecise exercise. The successful development of the subject
properties is critical to the values estimated in the report.
This report has assumed property taxes are paid as due. This report does not include an analysis
to determine if the owners of property within the Zone will be able or willing to pay property
taxes or if the tax collector will be able to collect unpaid taxes. The actual delinquencies in the
payment of real property taxes in the Zone will likely be different than assumed in this report and
a significant increase in the failure to pay property taxes would materially affect the tax increment
revenues available for the payment of Project Costs.
This report estimates future tax increment revenues based on current real property tax rates.
Scenarios do not assume real property tax rates in the future will be different than tax rates for
fiscal year 2023 as shown in Table 2-C. Real property tax rates have varied over the years and
have declined over the years. Real property tax rates will likely vary significantly in future years
and be different than assumed in this report and a significant decrease in real property tax rates
could materially affect the tax increment revenues available for the payment of Project Costs.
This report includes projections of tax increment revenues based on two percent annual
appreciation for real property. Changes in values will not be consistent from year to year. Future
values are estimated based on values in 2023. Values in any future year may be less than values in
2023.
This report assumes that the subject properties will be developed as projected in this report. A
delay in the development of properties or changes to the program of development would reduce
tax increment revenues during the years of the delay and could result in there being inadequate tax
increment revenues to pay the Project Costs. No analysis has been conducted to determine if the
subject properties are likely to be developed as projected.
MuniCap 118
Numerous sources of information were relied on in the preparation of this report. These sources
are believed to be reliable; however, no effort has been made to verify information obtained from
other sources.
In summary, this report necessarily incorporates numerous estimates and assumptions with respect
to property performance, general and local business and economic conditions, the absence of
material changes in the competitive environment and other matters. Some estimates or assumptions
will inevitably not materialize, and unanticipated events and circumstance will occur. As a result,
actual results will vary from the estimates in this report and the variations may be material.
Other assumptions made in the preparation of this report and limiting conditions to this report are
as follows:
There are no zoning, building, safety, environmental or other federal, state, or local laws,
regulations, or codes that would prohibit or impair the development, marketing, or operation
of the subject properties in the manner contemplated in this report, and the subject
properties will be developed, marketed, and operated in compliance with all applicable Laws,
regulations, and codes.
2. No material changes will occur in (a) any federal, state, or local law, regulation, or code
affecting the subject properties or (b) any federal, state, or local grant, financing, or other
programs to be utilized in connection with the subject properties.
The local, national, and international economies will not deteriorate and there will be no
significant changes in interest rates or in rates of inflation or deflation.
4. The subject properties will be served by adequate transportation, utilities, and governmental
facilities.
The subject properties will not be subjected to any war, energy crises, embargo, strike,
earthquake, flood, fire, or other casualty or act of God.
6. The subject properties will be developed, marketed, and operated in a highly professional
manner.
7. There are no existing, impending, or threatened litigation that could hinder the development,
marketing, or operation of the subject properties.
8. MuniCap, Inc. does not have expertise in and has no responsibility for legal, environmental,
architectural, geologic, engineering, and other matters related to the development and
operation of the subject properties.
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MuniCap 119
6. LIST OF EXHIBITS
Unless otherwise stated, all references to "Exhibits" contained in this Final Plan shall mean and
refer to the following exhibits, all of which are attached to and made a part of this Final Plan for
all purposes.
Exhibit A-1.1
Map of the Property and TIRZ Zone
Exhibit A-1.2
Aerial Map of the Zone
Exhibit B
Description of Property in the Zone - Legal Descriptions
Exhibit C-1.1
Projected Taxable Value
- 2025 Development
Exhibit C-1.2
Projected Taxable Value
- 2026 Development
Exhibit C-1.3
Projected Taxable Value
- 2027 Development
Exhibit C-1.4
Projected Taxable Value
- 2028 Development
Exhibit C-1.5
Projected Taxable Value
- 2029 Development
Exhibit C-1.6
Projected Taxable Value
- 2030 Development
Exhibit C-1.7
Projected Taxable Value
- 2031 Development
Exhibit C-1.8
Projected Taxable Value
- 2032 Development
Exhibit C-1.9
Projected Taxable Value
- 2033 Development
Exhibit C-1.10
Projected Taxable Value
- 2034 Development
Exhibit C-1.11
Projected Taxable Value
- 2035 Development
Exhibit C-1.12
Projected Taxable Value
- 2036 Development
Exhibit C-1.13
Projected Taxable Value
- 2037 Development
Exhibit C-1.14
Projected Taxable Value
- 2038 Development
Exhibit C-1.15
Projected Taxable Value
- 2039 Development
Exhibit C-1.16
Projected Taxable Value
- 2040 Development
Exhibit C-1.17
Projected Taxable Value
- 2041 Development
Exhibit C-1.18
Projected Taxable Value
- 2042 Development
Exhibit C-1.19
Projected Taxable Value
- 2043 Development
Exhibit C-1.20
Projected Taxable Value
- 2044 Development
Exhibit C-1.21
Projected Taxable Value
- 2045 Development
Exhibit C-1.22
Projected Taxable Value
- 2046 Development
Exhibit C-1.23
Projected Taxable Value
- 2047 Development
Exhibit C-1.24
Projected Taxable Value
- 2048 Development
Exhibit C-1.25
Projected Taxable Value
- 2049 Development
Exhibit C-1.26
Projected Taxable Value
- 2050 Development
Exhibit C-1.27
Projected Taxable Value
- 2051 Development
Exhibit C-2.1
Projected Taxable Value
- Development Years 2025-2029
Exhibit C-2.2
Projected Taxable Value
- Development Years 2030-2034
Exhibit C-2.3
Projected Taxable Value
- Development Years 2035-2039
Exhibit C-2.4
Projected Taxable Value
- Development Years 2040-2044
Exhibit C-2.5
Projected Taxable Value
- Development Years 2045-2049
Exhibit C-2.6
Projected Taxable Value
- Development Years 2050-2051
Exhibit C-2.7
Projected Taxable Value
- All Development Years
MuniCap 120
Exhibit D-1.1
Projected Incremental Assessed Value & Incremental Real
Property Taxes Available for TIRZ Obligations
Exhibit D-1.2
Projected Incremental Assessed Value & Incremental Real
Property Taxes Available for the City
Exhibit D-1.3
Projected Incremental Assessed Value & Incremental Real
Property Taxes Available for the City after Release from the TIRZ
Exhibit D-1.4
Projected Incremental Assessed Value & Incremental Real
Property Taxes Available for the City - Summary
Exhibit E
Map and Description of the Proposed Uses of the Property
(Current Concept Plan)
Exhibit F
List of Parcels in the Zone
Exhibit G-1
Project Costs
Exhibit G-2
Authorized Improvements
Exhibit H
Current Appraised Value of the Zone (Base Year)
MuniCap 121
EXHIBIT A-1.1
MAP OF THE PROPERTY AND TIRZ ZONE
EXHIBIT A-1.2
AERIAL MAP OF THE ZONE
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EXHIBIT B
DESCRIPTION OF THE PROPERTY - LEGAL DESCRIPTIONS
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Legal Descriptions
Property ID
Aceragel
Legal Description
3910903
0.8800
G H & H R RR CO SURVEY Abstract 624 Tract 2
4144066
29.2090
ROGERS, T F SURVEY Abstract 1357 Tract 1
4224310
71.4630
T & N 0 RR CO SURVEY Abstract 1565 Tract 2
4914287
4.9200
LANGSTON, F..LIZABETH SURVEY Abstract 988 Tract 2
6234097
271.1100
FINLEY, THEODORE SURVEY Abstract 1878 Tract IA
6234119
172.3200
FINLEY, D T SURVEY Abstract 1901 Tract 2A
40518566
4.1400
DIXON, DAN H SURVEY Abstract 442 Tract IA04
40549852
33.4000
FINLEY, D T SURVEY Abstract 1900 Tract 1B A1842 TR 1B & A 623 TR 3A, CITY BOUNDARY SPl
40549860
1.0000
LANE, HENRY SURVEY Abstract 928 Tract 1Al IA2 1B 1132A 113213 1132C1 1F & 1G HS
41302796
16.0000
SOCORRO FARMING COSURVEY Abstract 1842 Tract 1C & A1900 TR 1C
41460901
15.0000
LANE, HENRY SURVEY Abstract 928 Tract IAlA lA3 1132 1133 1D & TR lE
42231491
2.1900
FINLEY, D T SURVEY Abstract 1900 Tract 1
42241225
40.1600
FINLEY, D T SURVEY Abstract I903 Tract 1Al
42308346
1.5880
VENTANA PUMPING STATION ADDN Block 1 Lot 1
42308354
4.0930
VENTANA PUMPING STATION ADDN Block 1 Lot 2
42346213
6.6000
FINLEY, D T SURVEY Abstract 1900 Tract 1B A1842 TR 1B & A 623 TR 3A, CITY BOUNDARY SPl
42346221
0.8620
FINLEY, D T SURVEY Abstract 1900 Tract 1 CITY BOUNDARY SPLIT
42346230
3.8400
DIXON, DAN H SURVEY Abstract 442 Tract 1A6
42346248
0.2100
DIXON, DAN H SURVEY Abstract 442 Tract IA4C
42491221
13.5000
DIXON, DAN H SURVEY Abstract 442 Tract 1A04D SEPARATED TRACT
42502339
15.0000
LANE, HENRY SURVEY Abstract 928 Tract 1Al 1A2 1B 1132A 1B2B 1B2C1 1F & 1G LESS HS
42721243
111.1970
T & N 0 RR CO SURVEY Abstract 1565 Tract 2B
42721413
23.8500
FINLEY, D T SURVEY Abstract 1901 Tract 2Al
42721430
24.4200
ROGERS, T F SURVEY Abstract 1357 Tract 1B
42724447
81.3700
ROGERS, T F SURVEY Abstract 1357 Tract 1Al
42724455
5.2900
TAYLOR, EDWARD SURVEY Abstract 1560 Tract IMA & A1903 TR IAIC
42724463
7.7500
LANGSTON, ELIZABETH SURVEY Abstract 988 Tract 2132
42782684
1.0640
S A & M G RR CO SURVEY Abstract 1479 Tract 1B
42782692
0.6800
FINLEY, D T SURVEY Abstract 1900 Tract lE CITY BOUNDARY SPLIT
42782706
2.6900
FINLEY, D T SURVEY Abstract 1900 Tract lE CITY BOUNDARY SPLIT
42782714
12.7000
FINLEY, D T SURVEY Abstract 1900 Tract 1D SEPARATED TRACT
42797321
961.5110
LANE, HENRY SURVEY Abstract 1991P Tract 1 & 1B BAL IN PARKER
42797339
387.0770
S A & M G RR CO SURVEY Abstract 1479 Tract 1C
42797347
145.0000
ATKINS, WILLIAM SURVEY Abstract 1961 Tract IA
42797517
0.5580
FINLEY, D T SURVEY Abstract 1903 Tract 1C
42797525
163.0330
FINLEY, D T SURVEY Abstract 1903 Tract 1D
42820578
19.9800
DIXON, DAN H SURVEY Abstract 442 Tract 1D
42820586
13.2400
DIXON, DAN H SURVEY Abstract 442 Tract lE
42820616
41.3900
PROCTOR, NATHAN SURVEY Abstract 1229 Tract 1C
42820624
0.1380
PROCTOR, NATHAN SURVEY Abstract 1229 Tract 1D SEPARATED TRACT
42820632
13.2670
G H & H R RR CO SURVEY Abstract 623 Tract 1J
42820641
19.5860
G H & H R RR CO SURVEY Abstract 623 Tract 1K SEPARATED TRACT
42830522
184.9500
G H & H R RR CO SURVEY Abstract 623 Tract 1L & ABST 493 TR 1171 & ABST 1117 TR 1C1
42894784
5.1600
FINLEY, D T SURVEY Abstract 1903 Tract lA1D SEPARATED TRACT
42894792
11.5000
ROGERS, T F SURVEY Abstract 1357 Tract 1AIA SEPARATED TRACT
42894806
1.8590
VENTANA Block 12 Lot 1X HOA OPEN SPACE
42894814
0.6600
LANGSTON, ELIZABETH SURVEY Abstract 988 Tract 2132A SEPARATED TRACT
3861694
4.7780
DIXON, DAN H SURVEY Abstract 442 Tract 1 & ABST 495 TRS 1C & 1D
3861716
18.5800
DIXON, DAN H SURVEY Abstract 442 Tract lA
3910520
20.5970
G H & H R RR CO SURVEY Abstract 623 Tract 1 & ABST 1117 TR 1C
3910830
18.8600
G H & H R RR CO SURVEY Abstract 623 TR3
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Legal Descriptions
Property ID I Acerage' I Legal Description'
4098382
18.4760
PROCTOR, NATHAN SURVEY Abstract 1229 Tract 1
4098420
0.8470
PROCTOR, NATHAN SURVEY Abstract 1229 Tract IA2 & A442 TR IA6
4121376
1.0000
ROBINSON, WILLIAM SURVEY Abstract 1274 Tract 2 HSBAL IN PARKER CNTY
4197593
25.7050
S A & M G RR CO SURVEY Abstract 1479 Tract 1
4224442
481.9200
T & N O RR CO SURVEY Abstract 1567 Tract 1
4299167
40.0000
SOCORRO FARMING COSURVEY Abstract 1842 Tract 1
4305043
4.2630
FINLEY, D T SURVEY Abstract 1900 Tract 1 CITY BOUNDARY SPLIT
4305213
158.6080
FINLEY, D T SURVEY Abstract 1903 Tract 1
4312694
15.0000
ATKINS, WILLIAM SURVEY Abstract 1961 Tract 1
5950260
400.8000
ROBINSON, WILLIAM SURVEY Abstract 1274 Tract 2 LESS
6265081
1.0000
LANE, HENRY SURVEY Abstract 928 Tract IA 1B1 1134 & 1135
7652615
4.0000
SOCORRO FARMING COSURVEY Abstract 1842 Tract IA & A1900 TR IA
40549879
11.0000
ROBINSON, WILLIAM SURVEY Abstract 1274 Tract 2A
42988568
1.0120
LANE, HENRY SURVEY Abstract 1991P Tract 1B1 ELEVEATED STORAGE TANK
42989475
56.7800
G H & H R RR CO SURVEY Abstract 623 Tract 1N & ABST 1117 TR 1C1A
42989483
13.8500
G H & H R RR CO SURVEY Abstract 623 Tract I SEPARATED TRACT
42989335
5.9800
DIXON, DAN H SURVEY Abstract 442 Tract 1D1
42989441
37.6300
DIXON, DAN H SURVEY Abstract 442 Tract 1F
42989467
3.5700
ELLIOTT, JAMES F SURVEY Abstract 495 Tract 1D
42989459
2.6000
ELLIOTT, JAMES F SURVEY Abstract 442 Tract I
42989432
57.4300
G H & H R RR CO SURVEY Abstract 623 Tract 1M & ABST 1117 TR I
R000043635
67.0000
Abst: 648, Survey: H T & B RR CO SUR 3
R000050465
178.0000
Abst: 1107, Survey: ROBINSON WM
R000059008
126.5400
Abst: 1579, SURV: NORMAN UNDERWOOD
R000063119
178.1750
Abst: 1991, Survey: I & G N R R CO
R000063224
109.7000
Abst: 2002, Survey: I & G N R R CO
R000063226
1.0000
Abst: 2002, Survey: I & G N R R CO
R000064877
165.0000
Abst: 2224, Survey: I & G N R R CO
R000095225
1.0000
Abst: 2002, Survey: I & G N R R CO
R000095227
1 14.0000
Abst: 2002, Survey: I& G N R R CO, SURV: I& G N R R CO
Total
5192.11
1 - Values obtained from Parker County Central Appraisal District and Tarrant County Central Appraisal District in September of 2023.
EXHIBIT C-1.1
PROJECTED TAXABLE VALUE - 2025 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit C-1.1: Projected Assessed Value - 2025 Development'
Residential
Development
2.0%
Single Family Residential
Multi -Family
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Total Projected
Ending
As Of
Factor'
L.nils
Unit
Assessed Value
Sq Ft'
Sq Ft
Assessed Value
Assessed Value
31-OU-23
1-Jail-24
l()WO
fl
$$ Ww
30
Q
$213
$0
0
31-Dec-24
1-Jan-25
102%
0
$522,240
$0
0
$217
$0
0
31-Dec-25
1-Jan-26
104%
265
$532,685
$141,105,940
103,024
$226
$23,280,168
164,386,108
31-Dec-26
1-Jan-27
106%
265
$543,338
$143,928,058
103,024
$230
$23,745,771
167,673,830
31-Dec-27
1-Jan-28
108%
265
$554,205
$146,806,620
103,024
$235
$24,220,687
171,027,306
31-Dec-28
1-Jan-29
110%
265
$565,289
$149,742,752
103,024
$240
$24,705,101
174,447,853
31-Dec-29
1-Jan-30
113%
265
$576,595
$152,737,607
103,024
$245
$25,199,203
177,936,810
31-Dec-30
1-Jan-31
115%
265
$588,127
$155,792,359
103,024
$249
$25,703,187
181,495,546
31-Dec-31
1-Jan-32
117%
265
$599,890
$158,908,206
103,024
$254
$26,217,250
185,125,457
31-Dec-32
1-Jan-33
120%
265
$611,887
$162,086,370
103,024
$260
$26,741,595
188,827,966
31-Dec-33
1-Jan-34
122%
265
$624,125
$165,328,098
103,024
$265
$27,276,427
192,604,525
31-Dec-34
1-Jan-35
124%
265
$636,608
$168,634,660
103,024
$270
$27,821,956
196,456,616
31-Dec-35
1-Jan-36
127%
265
$649,340
$172,007,353
103,024
$275
$28,378,395
200,385,748
31-Dec-36
1-Jan-37
129%
265
$662,327
$175,447,500
103,024
$281
$28,945,963
204,393,463
31-Dec-37
1-Jan-38
132%
265
$675,573
$178,956,450
103,024
$287
$29,524,882
208,481,332
31-Dec-38
1-Jan-39
135%
265
$689,085
$182,535,579
103,024
$292
$30,115,380
212,650,959
31-Dec-39
1-Jan-40
137%
265
$702,866
$1.86,186,291
103,024
$298
$30,717,687
216,903,978
31-Dec-40
1-Jan-41
140%
265
$716,924
$189,910,016
103,024
$304
$31,332,041
221,242,058
31-Dec-41
1-Jan-42
143%
265
$731,262
$193,708,217
103,024
$310
$31,958,682
225,666,899
31-Dec-42
1-Jan-43
146%
265
$745,887
$197,582,381
103,024
$316
$32,597,856
230,180,237
31-Dec-43
1-Jan-44
149%
265
$760,805
$201,534,029
103,024
$323
$33,249,813
234,783,941
31-Dec-44
1-Jan-45
152%
265
$776,021
$205,564,709
103,024
$329
$33,914,809
239,479,518
31-Dec-45
1-Jan-46
155%
265
$791,542
$209,676,004
103,024
$336
$34,593,105
244,269,109
31-Dec-46
1-Jan-47
158%
265
$807,372
$213,869,524
103,024
$342
$35,284,967
249,154,491
31-Dec-47
1-Jan-48
161%
265
$823,520
$218,146,914
103,024
$349
$35,990,666
254,137,581
31-Dec-48
1-Jan-49
164%
265
$839,990
$222,509,852
103,024
$356
$36,710,480
259,220,332
31-Dec-49
1-Jan-50
167%
265
$856,790
$226,960,049
103,024
$363
$37,444,689
264,404,739
31-Dec-50
1-Jan-51
171%
265
$873,926
$231,499,250
103,024
$371
$38,193,583
269,692,834
31-Dec-51
1-Jan-52
174%
265
$891,404
$236,129,235
103,024
$378
$38,957,455
275,086,690
31-Dec-52
1-Jan-53
178%
265
$909,232
$240,851,820
103,024
$386
$39,736,604
280,588,424
31-Dec-53
1-Jan-54
181%
265
$927,417
$245,668,856
103,024
$393
$40,531,336
286,200,193
31-Dec-54
1-Jan-55
185%
265
$945,965
$250,582,234
103,024
$401
$41,341,963
291,924,196
MuniCap, Inc.
'According to the Parker County Appraisal District and Tarrant Count Appraisal District property is assessed as of January 1 annually. During construction, the assessed value represents the portion of the
building completed as of January 1. Assumes no assessed value during construction.
'Assumes an annual inflation factor of 2.0%.
3Provided by the Developer.
EXHIBIT C-1.2
PROJECTED TAXABLE VALUE - 2026 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit C-1.2: Projected Assessed Value - 2026 Development'
Residential
Commercial
Development
2.0%
Single Family Residential
Multi -Family
Industrial
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Ending
As Oft
Factor'
Units'
Unit
Assessed Value
Sq Ft'
SO Ft
Assessed Value
Sq Fe
SS Ft
Assessed Value
Assessed Value
31-Dec-24
1-Jan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
31-Dec-26
1-Jan-27
106%
265
$543,338
$143,928,058
103,024
$230
$23,745,771
645,373
$66
$42,342,351
210,016,180
31-Dec-27
1-Jan-28
108%
265
$554,205
$146,806,620
103,024
$235
$24,220,687
645,373
$67
$43,189,198
214,216,504
31-Deo-28
1-Jan-29
110%
265
$565,289
$149,742,752
103,024
$240
$24,705,101
645,373
$68
$44,052,982
218,500,834
31-Dec29
1-Jan-30
113%
265
$576,595
$152,737,607
103,024
$245
$25,199,203
645,373
$70
$44,934,041
222,870,851
31-Dec-30
1-Jan-31
115%
265
$588,127
$155,792,359
103,024
$249
$25,703,187
645,373
$71
$45,832,722
227,328,268
31-Dec-31
1-Jan-32
117%
265
$599,890
$158,908,206
103,024
$254
$26,217,250
645,373
$72
$46,749,376
231,874,833
31-Dec32
1-Jan-33
120%
265
$611,887
$162,086,370
103,024
$260
$26,741,595
645,373
$74
$47,684,364
236,512,330
31-Dec-33
1-Jan-34
122%
265
$624,125
$165,328,098
103,024
$265
$27,276,427
645,373
$75
$48,638,051
241,242,576
31-Dec-34
1-Jan-35
124%
265
$636,608
$168,634,660
103,024
$270
$27,821,956
645,373
$77
$49,610,812
246,067,428
31-Dec35
1-Jan-36
127%
265
$649,340
$172,007,353
103,024
$275
$28,378,395
645,373
$78
$50,603,029
250,988,776
31-Dec-36
1-Jan-37
129%
265
$662,327
$175,447,500
103,024
$281
$28,945,963
645,373
$80
$51,615,089
256,008,552
31-Dec37
1-Jan-38
132%
265
$675,573
$178,956,450
103,024
$287
$29,524,882
645,373
$82
$52,647,391
261,128,723
31-Dec-38
1-Jan-39
135%
265
$689,085
$182,535,579
103,024
$292
$30,115,380
645,373
$83
$53,700,339
266,351,297
31-Dec39
1-Jan4O
137%
265
$702,866
$186,186,291
103,024
$298
$30,717,687
645,373
$85
$54,774,345
271,678,323
31-Dec-40
1-Jan4l
140%
265
$716,924
$189,910,016
103,024
$304
$31,332,041
645,373
$87
$55,869,832
277,111,890
31-Dec4l
1-Jan42
143%
265
$731,262
$193,708,217
103,024
$310
$31,958,682
645,373
$88
$56,987,229
282,654,128
31-Dec-42
1-Jan43
146%
265
$745,887
$197,582,381
103,024
$316
$32,597,856
645,373
$90
$58,126,974
288,307,210
31-Dec-43
1-Jan44
149%
265
$760,805
$201,534,029
103,024
$323
$33,249,813
645,373
$92
$59,289,513
294,073,354
31-Dec-44
1-Jan45
152%
265
$776,021
$205,564,709
103,024
$329
$33,914,809
645,373
$94
$60,475,303
299,954,822
31-Dec-45
1 Jan46
155%
265
$791,542
$209,676,004
103,024
$336
$34,593,105
645,373
$96
$61,684,809
305,953,918
31-Dec46
1-Jan47
158%
265
$807,372
$213,869,524
103,024
$342
$35,284,967
645,373
$97
$62,918,506
312,072,996
31-Dec-47
1-Jan48
161%
265
$823,520
$218,146,914
103,024
$349
$35,990,666
645,373
$99
$64,176,876
318,314,456
31-Dec48
1-Jan-49
164%
265
$839,990
$222,509,852
103,024
$356
$36,710,480
645,373
$101
$65,460,413
324,680,745
31-Dec-49
1-Jan-50
167%
265
$856,790
$226,960,049
103,024
$363
$37,444,689
645,373
$103
$66,769,621
331,174,360
31-Dec-50
1-Jan-51
171%
265
$873,926
$231,499,250
103,024
$371
$38,193,583
645,373
$106
$68,105,014
337,797,847
31-Dec-51
1-Jan-52
174%
265
$891,404
$236,129,235
103,024
$378
$38,957,455
645,373
$108
$69,467,114
344,553,804
31-Dec52
1-Jan-53
178%
265
$909,232
$240,851,820
103,024
$386
$39,736,604
645,373
$110
$70,856,456
351,444,881
31-Dec 53
1-Jan-54
181%
265
$927,417
$245,668,856
103,024
$393
$40,531,336
645,373
$112
$72,273,586
358,473,778
31-Dec-54
1-Jan-55
185%
265
$945,965
$250,582,234
103,024
$401
$41,341,963
645,373
$114
$73,719,057
365,643,254
31-Dec55
1-Jan-56
188%
265
$964,885
$255,593,878
103,024
$409
$42,168,802
645,373
$117
$75,193,438
372,956,119
Municap, Inc.
According to the Parker County Appraisal District and Tarrant Count Appraisal District property is assessed as of January 1 annually. During construction, the assessed value represents the portion of the building completed as of January 1. Assumes no assessed
2Assumes an annual inflation factor of 2.0%.
'Provided by the Developer.
EXHIBIT C-1.3
PROJECTED TAXABLE VALUE - 2027 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit C-1.3: Projected Assessed Value - 2027 Development'
Residential
Commercial
Development
2.0%
Single Family Residential
Multi -Family
Industrial
Office
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Endin
As Of
Facto?
Units?
Unit
Assessed Value
Fty
Ft
Assessed Value
F?
Ft
Assessed Value
Ft3
S Ft
Assessed Value
Assessed Value
31
}-Jtm�4
t
p
�
!J
0
0
31-Dec-24
I-Jan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
SO
0
$226
$0
0
$64
$0
0
$191
SO
0
31-Dec-26
1-Jan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
$0
0
31-Dec27
1-Jan-28
108%
328
$554,205
$181,661,097
450,413
$235
$105,890,932
645,373
$67
$43,189,198
261,360
$198
$51,865,819
382,607,046
31-Dec-28
1-Jan-29
11054
328
$565,289
$185,294,319
450,413
$240
$108,008,750
645,373
$68
$44,052,982
261,360
$202
$52,903,136
390,259,186
31-Dec-29
I-Jan-30
113%
328
$576,595
S189,000,205
450,413
$245
$110,168,925
645,373
$70
$44,934,041
261,360
$206
$53,961,198
399,064,370
31-Dec-30
1-Jan-31
115%
328
$588,127
$192,780,209
450,413
$249
$112,372,304
645,373
$71
$45,832,722
261,360
$211
$55,D40,422
406,025,658
31-Dec31
I-Jan-32
117%
328
$599,890
$196,635,813
450,413
$254
$114,619,750
645,373
$72
546,749,376
261,360
$215
$56,141,231
414,146,171
31-Dec32
I-Jan-33
120%
328
$611,887
$200,568,530
450,413
$260
$116,912,145
645,373
$74
$47,684,364
261,360
$219
$57,264,056
422,429,094
31-Dee-33
I-Jan-34
122%
328
$624,125
$2D4,579,9D0
450,413
$265
$119,250,388
645,373
$75
$49,638,051
261,360
$223
$58,409,337
430,977,676
31-Dec34
1-Jan-35
1241/6
328
$636,608
$208,671,498
450,413
$270
$121,635,396
645,373
$77
$49,610,812
261,360
$228
$59,577,523
439,495,230
31-Dee-35
I-Jan-36
127%
328
$649,340
$212,844,928
450,413
$275
$124,069,104
645,373
$78
$50,603,029
261,360
$233
S60,769,074
448,285,134
31-Dec-36
1-Jan-37
129%
328
$662,327
$217,101,827
450,413
$281
$126,549,466
645,373
$80
$51,615,089
261,360
$237
$61,984,455
457,250,837
31-Dec37
1-Jan-38
132%s
328
$675,573
$221,443,863
450,413
$287
$129,080,455
645,373
$82
$52,647,391
261,360
S242
$63,224,144
466,395,854
31-Deo-38
1-Jan-39
135%
328
$689,085
$225,872,741
450,413
$292
$131,662,064
645,373
$83
$53,700,339
261,360
$247
$64,488,627
475,723,771
31-Dee-39
1-Jan-40
137%
328
$702,866
$230,390,195
450,413
$298
$134,295,305
645,373
$85
$54,774,345
261,360
$252
S65,778,400
485,238,246
31-Dec-40
1-Jan-41
140%
328
$716,924
$234,997,999
450,413
$304
$136,981,212
645,373
$87
$55,869,832
261,360
$257
$67,093,968
494,943,011
31-Dec-41
I-Jan-42
143%
328
$731,262
$239,697,959
450,413
$310
$139,720,836
645,373
$88
$56,987,229
261,360
$262
$68,435,847
504,941,871
31-Dec-42
I-Jan-43
146%
328
$745,887
$244,491,918
450,413
$316
$142,515,252
645,373
$90
$58,126,974
261,360
$267
$69,804,564
514,938,709
31-Dec-43
I -Jan- 4
149%
328
$760,805
$249,381,757
450,413
$323
$145,365,558
645,373
$92
$59,289,513
261,360
$272
$71,200,655
525,237,483
31-Dec-44
1-Jan-45
152%
328
$776,021
$254,369,392
450,413
$329
$148,272,869
645,373
$94
$60,475,303
261,360
$278
$72,624,669
535,742,232
31-Dec-45
I-Jan-46
155%
328
$791,542
$259,456,780
450,413
$336
$151,238,326
645,373
S96
$61,684,809
261,360
$283
$74,077,162
546,457,077
31-Dec-46
1-Jan-47
158%
328
$807,372
$264.645,915
450,413
S342
$154,263,093
645,373
$97
$62,918,506
261,360
$289
$75,558,705
557,386,219
31-Dec-47
1-Jan-48
161%
329
S823,520
S269,938,834
450,413
$349
$157,348,354
645,373
$99
S64,I76,876
261,360
$295
$77,069,879
568,533,943
31-Dec-48
1-Jan-49
164%
328
$839,990
$275,337,610
450,413
$356
$160,495,322
645,373
$101
$65,460,413
261,360
$301
$78,611,277
579,904,622
31-Dec-49
1-Jan-50
167%
328
$856,790
$280,844,363
450,413
$363
$163.705.228
645,373
$103
$66,769,621
261,360
$307
$80,183,502
591,502,714
31-Dec-50
I-Jan-51
171%
328
$873,926
$286,461,250
450,413
$371
$166,979,333
645,373
$106
$68,105,014
261,360
S313
S81,787,172
603,332,769
31-Deo-51
1-Jan-52
174%
328
S891,404
$292,190,475
450,413
$378
$170,318,919
645,373
$108
$69,467,114
261,360
$319
$83,422,916
615,399,424
31-Dec-52
1-Jan-53
178%
329
$909,232
$299,034,294
450,413
$386
$173,725,299
645,373
$110
$70,856,456
261,360
$326
$85,091,374
627,707,413
31-Deo-53
1-Jan-54
181%
328
$927,417
$303,994,970
450,413
$393
$177,199,903
645,373
$112
$72,273,586
261,360
$332
$86,793,202
640,261 561
31-Dec-54
1-Jan-55
185%
328
$945,965
$310,074,869
450,413
$401
$180,743,800
645,373
$114
$73,719,057
261,360
$339
$88,529,066
653,066,792
31-Dec-55
1-Jan-56
188%
328
$964,885
$316,276,367
450,413
$409
$194,358,676
645,373
$117
$75,193,438
261,360
$345
$90,299,647
666,128,128
31-Dec56
1-Jan-57
192%
328
$984,182
$322,601,894
450,413
$417
$188,D45,849
645,373
$119
$76,697,307
261,360
$352
$92,105,640
679,450,690
M-Cap, Jnc.
'Awarding to the Pecker County Appraisal District wad Tartent Count Appraisal District pwputy is atsmsed w of January l annually. During construction, the assessed value reprmenu the portion of the building completed as of January 1. Assumes an assessed value during wnstruction.
rAsaomes an annual inflation fww of 2.01f6.
sProVided by the DCVoloper.
EXHIBIT C-1.4
PROJECTED TAXABLE VALUE - 2028 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit C-1.4: Proiected Assessed Value - 2028 Development'
Residential
Commercial
Development
2.0 %
Single
Family Residential
Multi -Family
Industrial
Office
Retail (Big Box)
Year
Assessed
inflation
Value Per
Projected
Value Per
Projected
Valle Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
EndingAs
Otr
Factor'
Units'
Unit
Assessed Value
F?
Ft
Assessed Value
FYI
S Ft
Assessed Value
S FC'
S Ft
Assessed Value
S Ft'
S Ft
Assessed Value
Assessed Value
31-Deo-23
0
II
S6Z
6
31-D-24
I-Jan-25
102%
0
$522,240
SO
0
$217
SO
0
$63
$0
0
$187
$0
0
S85
$0
0
31-Deo-25
1-Jan-26
104%
0
$532,695
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
3l-Deo-26
IJan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
SO
0
31-Dee-27
Wan-28
109%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
3l-Dee-28
1-Jan-29
110%
400
$565,299
$226,074,541
450,413
$240
S108,008,750
645,373
$68
S44,052,982
261,360
$202
$52,903,136
43,560
$92
$3,999,034
435,038,443
31-Deo-29
1-Jan-30
113%
400
$576.595
$230,596,032
450,413
$245
S110,168,925
645,373
$70
S44,934,041
261,360
$206
$53,961,1918
43,560
S94
$4,079.015
443,739212
3l-Deo-30
1-Jan-31
115%
400
$588,127
$235,207,953
450,413
$249
$112,372,304
645,373
$71
S45,932,722
261,360
$211
$55,040,422
43,560
$96
$4,160,595
452,613,997
31-Dec31
1-Jan-32
117%
400
$599,890
S239,912,112
450,413
$254
S114,619,750
645,373
S72
S46,749,376
261,360
$215
$56,141,231
43,560
S97
$4,243,907
461,666,276
31-Dec-32
1-Jan-33
120%
400
S611,887
S244,710,354
450,413
$260
S116,912,145
645,373
$74
S47,684,364
261,360
$219
$57,264,056
43,560
$99
S4,328,683
470,999,602
31-Dee-33
1-Jan-34
122%
400
S624,125
S249,604,561
450,413
$265
S119,250,398
645,373
$75
S48,638,051
261,360
$223
$58,409,337
43,560
$101
S4,415,257
480,317,594
31-Deo-34
1-Jan-35
124%
400
$636,608
$254,596.652
450,413
$270
S121,635,396
645,373
$77
S49,610,812
261,360
$228
$59,577,523
43,560
$103
S4,503,562
499,923.946
31-Dec35
1-Jan-36
127%
400
$649,340
$259,688,585
450,413
$275
S124,068,104
645,373
$78
$50,603,029
261,360
$233
$60,769,074
43,560
$105
S4,593,634
4919,722,425
31-Dev36
1-Jan-37
129%
400
$662,327
$264,882,357
450,413
$281
$126,549,466
643,373
$90
$51,615,089
261,360
$237
$61,994,455
43,560
$109
S4,685,506
509,716,873
31-Deo-37
I-Jan-39
132%
400
S675,573
$270,190,004
450,413
$287
S129,090,455
645,373
$82
$52,647,391
261,360
$242
$63,224,144
43,560
$110
S4,779,216
519,911,211
31-Deo-38
I-Jan-39
135%
400
$689,085
$275,583,604
450,413
$292
S131,662,064
645,373
$83
$53,700,339
261,360
$247
$64,488,627
43,560
$112
$4,874,801
530,309,435
31-Deo-39
I-Jan40
137%
400
$702,866
$281,095,276
450,413
$299
S134,295,305
645,373
$85
$54,774,345
261,360
$252
$65,778,400
43,560
$114
$4,972,297
540,915,624
31-Dec40
I-Jan-41
140%
400
$716,924
$286,717,182
450,413
$304
S136,981,212
645,373
$87
$55,869,832
261,360
$257
$67,093,968
43,560
$116
$5,071,743
551,733,936
31-Deo-41
IJan42
143%
400
$731,262
$292,451,526
450,413
$310
S139,720,936
645,373
$88
S56,987,229
261,360
$262
$68,435,847
43,560
S119
S5,173,177
562,768,615
31-Dec-42
1-Jan43
146%
400
$745,887
$298,300,556
450,413
$316
S142,515,252
645,373
$90
$58.126,974
261,360
$267
$69,804,564
43,560
$121
55,276,641
574,023,987
31-Dec-43
I-Jan44
149%
400
$760,805
$304,266,567
450,413
$323
S145,365,558
645,373
$92
S59,289,513
261,360
$272
$71,200,655
43,560
$124
$5,382,174
585,504,467
31-Dec-44
Ilan45
152%
400
$776,021
$310,351,999
450,413
$329
S148,272,869
645,373
$94
$60,475,303
261,360
$278
$72,624,669
43,560
$126
$5,489,817
597,214,556
31-Dec-45
I-Jan46
155%
400
$791,542
$316,558,936
450,413
$336
$151,238,326
645,373
$96
$61,684,809
261,360
$283
$74,077,162
43,560
S129
$5,599,614
609,158,947
31-Dec-46
IJan47
158%
400
S807,372
$322,890,115
450,413
$342
S154,263,093
645,373
S97
S62,918,506
261,360
$289
$75,558,705
43,560
S131
S5,711,606
621,342,024
31-Dec-47
I-Jan48
161%
400
$923,520
$329,347,919
450,413
$349
$157,348,354
645,373
$919
S64,176,876
261,360
$295
$77,069,879
43,M
$134
$5,825,838
633,768,865
31-Dec49
I-Jan49
164%
400
$839,990
$335,934,876
450,413
$356
S160,495,322
645,373
$101
$65,460,413
261,360
$301
$78,611,277
43,560
$136
$5,942,355
646,444,242
31-Dec-49
'Jan-50
167%
400
$856,790
S342,653,573
450,413
$363
S163,705,229
645,373
$103
$66,769,621
261,360
$307
$90,193,502
43,560
S139
$6,061,202
659,373,127
31-Dev50
l-Jan-51
171%
400
$873,926
$349,506,645
450,413
$371
S166,979,333
645,373
$106
$69,105,014
261,360
$313
$81,787,172
43,560
$142
S6,182,426
672,560,590
31-1)eo-51
I-Jan-52
174%
400
$991,404
$356,496,778
450,413
$378
$170,319,919
645,373
$108
$69,467,114
261,360
S319
$83,422,916
43,560
$145
$6,306,074
686,011,801
31-Dec52
1-Jan-53
178%
400
$909,232
$363,626,713
450,413
$386
$173,725,298
645,373
$110
$70,856,456
261,360
$326
$85,091,374
43,560
$148
$6,432,196
699,732,037
31-Dec53
1-Jan-54
181%
400
$927,417
$370,899,248
450,413
$393
$177,199,803
645,373
$112
$72,273,586
261,360
$332
$86,793,202
43,560
$151
$6,560,840
713,726,678
31-Deo-54
1-Jan-55
185%
400
$945,965
$378,317,233
450,413
S401
$180,743,800
645,373
$114
$73,719,057
261,360
$339
$88,529,066
43,560
$154
$6,692,057
728,001,212
314Dec-55
IJan-56
198%
400
$964,885
$385,883,577
450,413
$409
$194,358,676
645,373
$117
$75,193,438
261,360
$345
$90,299,647
43,560
$157
$6,825,998
742,561,236
31-Dec-56
1-Jan-57
192%
400
$984,182
$393,601,249
450,413
S417
$188,045,849
645,373
S119
$76,697,307
261,360
$352
$92,105,640
43,560
$160
$6,962,416
757,412,461
31-Dec57
1-Jan-58
196%
400
$1,003,866
S401,473,274
450,413
S426
$191,906,766
645,373
$121
$78,231,253
261,360
$359
$93,947,753
43,560
$163
$7,101,664
772,560,710
M-Cap, Inc.
'Ac dmgblheNeer County Appmisal DinriatmdTMWComtAppai®IDirtdntpopmtyismsesaedaaofJammylammlty Durmgromtrurtion-lhc�wdvaluerepeaeatsthepmtmoflhebuildiMg pletednvofl=uTyl.As mmme3.dvaluedmingaanmuctim.
2Aasumra an mmual inflation fxtar of 2.0%
'Provided by the Dc 1q-
EXHIBIT C-1.5
PROJECTED TAXABLE VALUE - 2029 DEVELOPMENT
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EXHIBIT C-1.6
PROJECTED TAXABLE VALUE - 2030 DEVELOPMENT
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EXHIBIT C-1.7
PROJECTED TAXABLE VALUE - 2031 DEVELOPMENT
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EXHIBIT C-1.8
PROJECTED TAXABLE VALUE - 2032 DEVELOPMENT
K R
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--------4444444�3
EXHIBIT C-1.9
PROJECTED TAXABLE VALUE - 2033 DEVELOPMENT
p000000000&m�S6��^�mh>�n�k8oAP�
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EXHIBIT C-1.10
PROJECTED TAXABLE VALUE - 2034 DEVELOPMENT
��u00000ccoo
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EXHIBIT C-1.11
PROJECTED TAXABLE VALUE - 2035 DEVELOPMENT
�s
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EXHIBIT C-1.12
PROJECTED TAXABLE VALUE - 2036 DEVELOPMENT
I
g�oPeoPPPPPPPPP� � ma x���n s£m � a -�;zn
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EXHIBIT C-1.13
PROJECTED TAXABLE VALUE - 2037 DEVELOPMENT
m n-S It C Pt ?gym
o000000000000���6�T���A=m^8�$�^eo�A�a�m�o.:i�
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EXHIBIT C-1.14
PROJECTED TAXABLE VALUE - 2038 DEVELOPMENT
tl >. ymcq-qm ry$or^I W�m'.0 �'4 o4irry
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EXHIBIT C-1.15
PROJECTED TAXABLE VALUE - 2039 DEVELOPMENT
3
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EXHIBIT C-1.16
PROJECTED TAXABLE VALUE - 2040 DEVELOPMENT
6
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EXHIBIT C-1.17
PROJECTED TAXABLE VALUE - 2041 DEVELOPMENT
EPtl
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EXHIBIT C-1.18
PROJECTED TAXABLE VALUE - 2042 DEVELOPMENT
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EXHIBIT C-1.19
PROJECTED TAXABLE VALUE - 2043 DEVELOPMENT
g^a000000O000Oe000O�d�s�=m�q�$�e�an�ns���Ro�
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EXHIBIT C-1.20
PROJECTED TAXABLE VALUE - 2044 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1.20: Proiected Assessed Value - 2044 Development'
Residential
Commercial
Development
2.0%
Multi-Fam)ly
Industrial
Office
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RAW(Pad/Wme)
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Ae Ot'
Facto'
S Fe
Ft
Assessed Value
S Ft3
S Ft
Assessed Value
Fta
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S 2F
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Ft3
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Assessed Value
Assessed Value
3
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1,62
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, Q
31-Dec-24
1-Ian-25
102%
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dee-25
I-Jan-26
104%
0
S226
$0
0
S64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dec26
l-Jan-27
106%
0
$230
SO
0
$66
$0
0
$195
$0
0
$88
$0
0
$292
$0
0
31-Dec-27
I-Jan-28
109%
0
$235
$0
0
$67
$0
0
S198
SD
0
$90
$0
0
$298
$0
0
31-Deo-28
1-Jan-29
110%
0
$240
SO
0
$69
SD
0
S202
SD
0
$92
$0
0
S304
$0
0
31-Deo-29
1-Jan-30
113%
0
$245
$0
0
$70
SO
0
$206
$0
0
$94
$0
0
$310
$0
0
31-Deo-30
I-Jan-31
115%
0
$249
$0
0
$71
SO
0
S211
$0
0
$96
$0
0
S316
$0
0
31-Dec31
I-Jaa-32
117%
0
$254
SO
0
$72
SO
0
$215
$0
0
$97
SO
0
$322
$0
0
31-Dec32
1-Jan-33
120%
0
$260
$0
0
$74
SO
0
$219
SO
0
S99
SO
0
S329
SO
0
31-Deo-33
14aa-34
122%
0
$265
$0
0
$75
SO
0
$223
$0
0
$101
SO
0
$335
SO
0
31-Deo-34
l-Jan-35
1241/6
0
$270
$0
0
$77
$0
0
$22%
SO
0
$103
SO
0
$342
SO
0
31-Dec-35
I-Jan-36
127%
0
$275
SD
0
$78
SO
0
$233
SO
0
$105
SO
0
$349
SO
0
31-Dec-36
1-Jan-37
129%
0
S281
SD
0
S80
$0
0
$237
SO
0
Slog
$0
0
$356
$0
0
31-Dec-37
1-Jan-38
132%
0
$287
SD
0
S82
$0
0
$242
SO
0
Silo
SO
0
S363
SO
0
31-Dec-38
I-Jan-39
135%
0
S292
SO
0
$83
$0
0
$247
SO
0
S112
$0
0
S370
SO
0
31-Dec39
1-Jan-40
137%
0
$298
SO
0
$85
$0
0
$252
SO
0
$114
$0
0
$378
$0
0
31-Dec40
I-Jan-41
140%
0
$304
SO
0
$87
$0
0
$257
$0
0
$116
$0
0
$385
SO
0
31-Deo41
1-Jan-42
143%
0
$310
SO
0
$88
SO
0
$262
$0
0
$119
SD
0
$393
$0
0
31-Der42
I-Jan-43
146%
0
$316
SO
0
$90
SO
0
S267
$0
0
$121
SO
0
S401
$0
0
31-Dec43
I-Jan-04
149-A
0
S323
$0
0
$92
SO
0
$272
SD
0
$124
SO
0
$409
SO
0
31-Dec44
1-Jan-45
152%
450,413
$329
$149,272,869
301,871
$94
$28,287,118
261,360
S278
$72,624,669
45,738
$126
$5,764,M8
32,670
$417
$13,617,125
269,566,088
31-Der45
t-Jan-46
155%
450,413
$336
$151,238,326
301,871
$96
S28,852,860
261,360
S283
$74,077,162
45,739
$129
$5,879,594
32.670
S425
$13,889.468
273,937,410
31-Der 46
1-Jan-47
158%
450,413
S342
$154,263,093
301,871
S97
$29,429,917
261,360
$289
$75,558,705
45,739
$131
$5,997,186
32,670
$434
$14,167,257
279,416,158
31-Der47
I-Jan-48
161%
450,413
$349
$157,348,354
301,87I
$99
$30,018,515
261,360
$295
$77,069,879
45,738
$134
56,117,130
32,670
$442
$14,450,602
285,004,481
31-Dec-48
I-Jan-49
164%
450,413
S356
$160,495,322
301,871
SIM
$30,618,886
261,360
$301
$78,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
290,704,571
31-Dec-49
I-Ian-50
167%
450,411
$363
$163,705,228
301,971
$103
S31,231,264
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
S15,034,407
296,518,662
31-Dec-50
I-Ian-51
171%
450,413
$371
$166,979,333
301,871
$106
$31,855,889
261,360
$313
$81,787,172
45.738
$142
$6,491,547
32,670
$469
$15,335,095
302,449,036
31-13 o-51
1-Jau-52
174%
450,413
$378
$170,318,919
301,871
S108
$32,493,007
261,360
S319
$83,422,916
45,739
$145
$6,621,378
32,670
S479
$15,641,797
308,499,016
31-Deo-52
1-Jan-53
178%
450,413
$396
$173,725,298
301,871
$110
$33,142,867
261,360
$326
$85,091,374
45,738
$148
$6,753,806
32,670
S488
$15,954,633
314,667,977
31-Dec-53
I-Jan-54
191%
450,413
$393
$177,199,803
301,871
$112
$33,805,724
261,360
$332
$86,793,202
45,738
$151
S6,888,882
32,670
S498
$16,273,725
320,961,336
31-Dco-54
1-Jan-55
185%
450,413
S401
$180,743,800
301,871
S114
$34,481,838
261,360
$339
$88,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
327,380,563
31-Dec55
1-Jan-56
188%
450,413
$409
$184,358,676
301,871
$117
$35,171,475
261,360
$345
SM299,647
45,738
$157
$7,167,193
32,670
$518
$16,931,194
333,928,174
31-Dec-56
1-Jan-57
192%
450,413
$417
$188,045,849
301,871
$119
$35,874,905
261,360
$352
$92,105,640
45,738
$160
$7,310,536
32,670
$529
$17,269,807
340,606,738
31-Deo-57
1-1ao-58
196%
450,413
$426
S191,806,766
301,871
$121
$36,592,403
261,360
$359
$93,947,753
45,738
$163
$7,456,747
32,670
$539
$17,615,204
347,419,973
31-Deo-58
1-Jan-59
200%
450,413
$434
$195.642,901
301,871
$124
$37,324,251
261,360
$367
$95,826,708
45,738
$166
$7,605,882
32,670
$550
$17,967,508
354,367,250
31-Deo-59
IJan-60
204%
450,413
$443
$199,555,759
301,874
$126
538,070,736
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
361,454,595
31-Dec-60
I-Jaa61
208%
450,413
$452
$203,546,875
301,871
$129
$38,832,151
261,360
$381
$99,698.107
45.738
$173
$7,913,160
32,670
$572
$19,693,395
M8,683,687
31-Dee-61
I-Jaa-62
212%
450,413
$461
$207,617,812
301,871
S131
$39,609,794
261,360
$389
$101,692,069
45,738
$176
$8,071,423
32,670
$584
$19,067,263
376,057,161
31-Dec62
1-JanE3
216%
450,413
$470
$211,770,168
301,871
$134
S40,400,970
261,360
$397
$103,725,910
45,738
$180
$8,232,851
32,670
$595
$19,448,608
N3,578,508
31-Dec63
I-Jaa-64
221 %
450,413
$480
S216,005,572
301,871
S137
S4t,208,989
261,360
$405
S105,800,429
45,738
$194
S8,397,508
32,670
5607
S19,837,580
391,250,079
31-Dec-64
I-Jan-65
225%
450,413
$489
S220,325,683
301,871
$139
$42,033,169
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20234,332
399,075,080
31-Dee-65
1-Ja -66
230%
450,413
$499
$224,732,197
301,871
$142
$42,973,932
261,360
$421
SI10,074,766
45,738
$191
$8,736,768
32,670
$632
$20,639,019
407,056,581
31-Dec-66
1-Jan-67
234%
450,413
$509
$229,226,841
301,871
$145
S43,731,309
261,360
S430
$112,276,261
45,738
$195
$8,911,503
32,670
$644
$21,051,799
415,197,713
31-Deo-67
Wan-68
239%
450,413
$519
5233,811,379
301,971
$148
$44,605,935
261,360
$438
$114,521,786
45,735
$199
$9,089,733
32,670
$657
$21,472,835
423,501,667
31-Dec-68
14-69
244%
450,413
$529
$238,487,605
301,871
$151
$45,498,054
261,360
$447
$116,812.222
45,738
$203
$9,271,528
32,670
$670
S21,902,292
431,971,700
31-Deo-69
Wan-70
249%
450,413
$540
S243,257,357
301,971
$154
S46,408,015
261,360
$456
S119,148,467
45,739
S207
S9,456,958
32,670
S694
S22,340,337
440,611,134
31-Deo-70
I-Jan-71
254%
450,413
$551
$249,122,504
301,871
$157
S47,336,175
261,360
$465
$121,531,436
45,738
$211
$9,646,098
32,670
$697
$22,787,144
449,423,357
31-Dee-71
I-Jan-72
259%
450,413
$562
$253,084,954
301,871
$160
S49,282,898
261,360
$474
$123,962.065
45,738
$215
S9,839,020
32,670
$711
$23,242,897
458,411,924
31-Dec72
l-Jan-73
264%
450,413
$573
$258,146,653
301,871
$163
S49,248,556
261,360
S484
$126,441,306
45,738
$219
$10,035,900
32,670
$726
$23,707,745
467,580,061
31-Deo-73
IJam-74
269%
450,413
$585
$263,309,587
301,871
$166
$50,233,529
261,360
$493
$128,970,132
45,738
$224
$10,236,516
32.670
$740
$24.181,900
476,931,662
M-Cap, Jnc.
'Acemdiog to the Puke ComtyAppndW District sod Tmtmt Count AppeiW Dutricl propety u -nal as of luusry I uuuslly. Dmug cauwchoa, the uaeea d veloe rtperaaih the panrou ofthe building completed u ofleoumy 1. Ass-cs m emaed velae during roneaocnm
'Arsumrs m umW inflation factor of2.0%
rRovided by the Derelopu
EXHIBIT C-1.21
PROJECTED TAXABLE VALUE - 2045 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Vea(e Ranch)
Exhibit C-1.21: Proiected Assessed Value - 2045 Development'
Reeidenlid
Commercial
Dewlopment
2.0 %
Multi -Family
Industrial
Office
Retail (Big
Box)
Retail (Pad/Wm)
Year
Assessed
Inflation
Value Per
Pmjec
Value Per
PmjcCW
Value Per
Projected
Value Per
Pmjectnd
Value Per
Projected
Total Projected
F.ndin
Aa Of+
Fecto�
Fr'
F[
Assessed Value
S Fr'
Ft
Assessed Value
F13
S Ft
Assessed Value
S Ft3
S Ft
Assessed Value
Fe
S Ft
Assessed Value
Assessed Value
3
0,
0.
&
31-Dec-24
1-Jan-25
102%
0
$217
SO
0
$63
SO
0
$187
SO
0
$85
$0
0
$281
$0
0
31-Dec25
14ao-26
1064%
0
$226
SO
0
$64
SO
0
$191
SO
0
$87
SO
0
S286
SO
0
31-Dec26
1-Jan-27
106%
0
$230
SO
0
$66
$0
0
$195
SO
0
$88
SO
0
S292
SO
0
31-Dee-27
1-Jaa-28
108%
0
$235
SO
0
$67
$0
0
S198
SO
0
$90
SO
0
S298
SO
0
31-Dec28
1-Jan-29
110%
0
$240
SO
0
$68
$0
0
S202
SO
0
$92
SO
0
S304
SO
0
31-Dec29
14an-30
113%
0
$245
SO
0
$70
SO
0
S206
SO
0
$94
SO
0
S310
SO
0
31-Deo-30
I-Jan-31
115%
0
S249
SO
0
$71
$0
0
$211
SO
0
$96
SO
0
S316
SO
0
31-Deo-31
1-Jan-32
I I M
0
$254
SO
0
$72
SO
0
S215
SO
0
$97
SO
0
$322
SO
0
31-Deo-32
1-Jan-33
120%
0
$260
SO
0
S74
$0
0
S219
$0
0
$99
$0
0
S329
SO
0
31-Dec33
I-Jan-34
122%
0
$265
$0
0
$75
$0
0
$223
SO
0
$101
SO
0
S335
SO
0
31-Deo-34
I-Jan-35
124%
0
$270
SO
0
$77
$0
0
$228
$0
0
$103
$0
0
$342
$0
0
31-Dec35
I-Jan-36
127%
0
S275
SO
0
$78
SO
0
S233
SO
0
$105
$0
0
S349
SO
0
31-Deo-36
I-Jan-37
129%
0
$281
SO
0
$80
$0
0
$237
$0
0
$108
$0
0
$356
$0
0
31-Dec-37
I-Jan-38
132%
0
$287
$0
0
$82
SO
0
$242
$0
0
$110
$0
0
$363
SO
0
31-Dec-38
I-Jan-39
135%
0
$292
SO
0
$83
$0
0
$247
$0
0
$112
$0
0
$370
SO
0
31-Dec39
Ilan-40
137%
0
$298
$0
0
$85
SO
0
$252
$0
0
$114
$0
0
S378
SO
0
31-Dec40
I-Jan-41
140%
0
$304
$0
0
$87
SO
0
$257
$0
0
$116
$0
0
$385
$0
0
31-11ec41
i-Jan-42
143%
0
$310
SO
0
$88
SO
0
$262
$0
0
$119
SO
0
$393
SO
0
31-1)eo-42
l-Jan-43
146%
0
$316
$0
0
$90
SO
0
$267
$0
0
$121
$0
0
$401
$0
0
31-1)eo-43
I-Jan-44
149%
0
$323
SO
0
$92
SO
0
$272
$0
0
$124
SO
0
$409
SO
0
31-Dec-44
I-Jan-45
1529/.
0
$329
SO
0
$94
$0
0
$278
SO
0
S126
SO
0
S417
SO
0
31-1)er.45
1-Jan-46
155%
450,413
$336
$151,238,326
301,871
$96
$28,852,860
261,360
$283
$74,077,162
45,738
$129
$5,879,594
32,670
$425
$13.889,468
273,937,410
31-Dcc46
1-Jan-47
158%
450,413
$342
$154,263,093
301,871
$97
$29,429,917
261,360
$289
$75,558,705
45,738
$131
$5,997,186
32,670
S434
$14,167,257
279,416,158
31-Deo-47
I-Jan-48
161%
450,413
$349
$157,348,354
30I,871
$99
$30,0I8,515
261,360
$295
$77,069,879
45,738
$134
$6,117,130
32,670
S442
$14,450,602
285,004,481
31-Dec-48
1-1=49
164%
450,413
$356
$160,495,322
301,871
$101
$30,618,896
261,360
$301
$78,611,277
45,738
$136
$6,239,472
32,670
S451
$14,739,614
290,704,571
31-Dec49
I-Jan-50
167a/o
450,413
$363
$163,705,228
301,971
$103
$31,231,264
261,360
$107
$90,I83,502
45,738
$139
$6,364.262
32.670
S460
$15,034,407
296.519,662
31-Dec-50
14an-51
171%
450,413
$371
$166,979,333
301,871
$106
$31,855,889
261,360
$313
$81,797,172
45,738
$142
$6.491,547
32,670
$469
$15,335,095
302,449,036
31-Deo-51
1-Jan-52
174%
450,413
$378
$170,318,919
301,871
$108
$32,493,007
261,360
$319
$83,422,916
45,738
$145
S6,621,378
32,670
$479
$15,641,797
309,498,016
31-Dec-52
1-Jan-53
178%
450,413
$396
$173,725,298
301,871
$110
$33,142,867
261,360
$326
$85,091,374
45,739
$148
$6,753,806
32,670
$488
$15,954,633
314,667,977
31-Deo-53
1-Jan-54
191%
450,413
$393
$177,IW,803
301,871
S112
$33,905,724
261,360
$332
$86,793,202
45,738
$151
$6,888,982
32,670
$498
$16,273,725
320,961j36
31-1)eo-54
I-Jan-55
185%
450,413
$401
$180,743,800
301,871
$114
$34,481,839
261,360
$339
$89,529,066
45,739
$154
$7,026,659
32,670
$508
$16.599,200
327,390,563
31-Dec55
14an-56
188%
450,413
$409
$184,358,676
301,871
$117
$35,171,475
261,360
$345
S90,299,647
45,738
$157
$7,167,193
32,670
$518
$16.93I,184
333,928,174
31-Dec-56
1-Jan-57
192%
450,413
$417
$188,045,849
301,971
$119
$35,874,905
261,360
$352
$92,105,640
45,738
$160
$7,310,536
32,670
$529
$17,269,807
340,606,738
31-Dec57
1-Jan-58
196%
450,413
$426
$191,806,766
301,871
$121
$36,592,403
261,360
$359
$93,947,753
45,738
$163
$7,456,747
32,670
$539
$17,615,204
347,418,871
31-Dec-58
I-Jan-59
200%
450,413
$434
$195,642,901
301,871
$124
$37,324,251
261,360
$367
$95,826,708
45,738
$166
$7,605,982
32,670
$550
$17,967,508
354,367,250
31-Deo-59
1-Jw-60
204%
450,413
$443
$199,555,759
301,871
$126
$38,070,736
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
361,454,595
31-Dec-60
I-Jan61
208%
450,413
S452
$203,546,875
301,871
$129
$38,832,151
261,360
$381
$99,698,107
45,738
$173
$7,913,160
32,670
$572
$18,693,395
368,683,687
31-Dcc-61
1-Jan-62
212%
450,413
9461
$207,617,912
301,871
$131
$39,608,794
261,360
$389
$101,692,069
45,738
$176
$8,071,423
32,670
$584
S19,067,263
376,057,361
31-Dec-62
I-Jan63
216%
450,413
$470
$211,770,168
301,871
$134
$40,00,970
261,360
$397
$103,725,910
45,738
$180
$8,232,851
32.670
$595
$19,448,608
383,578,508
31-Dec63
Wan64
221%
450,413
$480
S216,005,572
301,871
$137
$41,208,989
261,360
$405
$105,800,429
45,738
$184
$8,397,508
32,670
$607
$19,837,580
391,250,078
31-Dec-64
I-Jan-65
225%
450.413
$489
S220,325,683
301,871
$139
$42,033,169
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
300,075,080
31-Deo-65
1-Jan66
230%
450,413
$499
$224,732,197
301,871
$142
$42,873,832
261,360
S421
$110,074,766
45,738
$191
$9,736,768
32,670
S632
$20,639,019
407,056,591
31-Dec-66
1-Jan67
234%
450,413
$509
$229,226,841
301,871
$145
$43,731,309
261,360
$430
$112,276,261
45,738
$195
$8,911,503
32,670
$644
$21,051,799
415,197,713
31-Deo-67
Ilan-68
2391A
450,413
$519
9233.811,378
301,871
$148
S44,605,935
261,360
$438
$114,521,786
45.738
$199
S9,089,733
32,670
$657
S21,472,835
423.501,667
31-Dec68
I-Jan69
244%
450,413
$529
$238,487,605
301,871
$151
$45,498,054
261,360
$447
$116,812,222
45,739
$203
$9,271,528
32,670
$670
$21,902,292
431,971,700
31-Dee-69
1-Jan-70
2491/6
450,413
$540
$243,257,357
301,871
$154
$46,408,015
261,360
$456
$119,148,467
45,739
$207
$9,456,958
32,670
$684
$22,340,337
440,611,134
31-Dec-70
1-Jan-71
254%
450,413
$551
$248,122,504
301,871
$157
S47,336,175
261,360
$465
$121,531,436
45,738
$211
$9,646,098
32.670
$697
$22,787,144
440,423,357
31-Deo-71
1-Ian-72
259%
450,413
$562
$253,094,954
301,871
$160
S48,282,898
261,360
$474
$123,962,065
45,738
$215
S9,839,020
32,670
$711
$23,242,887
458,411,824
31-Dec-72
I-Jan-73
264%
450,413
$573
$258,146,653
301,871
S163
S49,248,556
261,360
$484
$126,441,306
45,738
$219
$10,035,900
32,670
$726
$23,707.745
467580,061
31-Dec-73
1-Jan-74
2691%
450,413
$585
$263,309,587
301,871
$166
$50,233,528
261,360
$493
$128,970,132
45,738
$224
$10,236.516
32,670
$740
$24,181,900
476,931,662
31-Dec-74
1-Jan-75
275%
450,413
$596
$268,575,778
301,871
$170
$51,238,198
261,360
$503
$131,549,535
45,738
$228
$10,441,246
32,670
$755
$24,665,538
496,470,295
MamCap, M.
'Accmdut8 to ds Partee County Appataal Diatda ad T-tCouotAppaiaalD'ta Ap,ap". ata..daeofl-,ylenaually. Dt¢ing conanuctwq the aueaad nlue repeemta the portion of the building compk6d es of lanueryt Aawmtesnoe-drelmduru%- hon.
�Aseome m ermual m0aaon factor of2.0%.
'Pr -dad by be Devebper.
EXHIBIT C-1.22
PROJECTED TAXABLE VALUE - 2046 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit C-1.22: Proiected Assessed Value - 2046 Develotimentt
Resideniial
Commercial
Development
2.0 %
Multi-Forady
Industrial
Offux
Retail (Big Box)
Raw (Patna m)
Year
Assessed
Mation
Value Per
Pmja w
Value Per
Projected
Value Per
Projew
Value Per
Projected
Value Per
Projected
Total Projected
As Of+
Fee 1
S Ff
f7
Assessed Value
S Ft'
S Ft
Assessed Value
S F
S Ft
Assured Value
EtJ
S Ft
Assessed Value
S F?
Fl
Assessed Value
Assessed Value
31tre29
1- 4
1
0
ti1T.
S0
0
sill
so
0
sQ
IS
Sb
31-Deo-24
1-Jan-25
102%
0
$217
$0
0
$63
$0
0
$187
$0
0
$95
s0
0
$281
$0
0
31-Deo-25
1-Jan-26
104%
0
$226
so
0
$64
$0
0
$191
$0
0
$97
SO
0
$286
$0
0
31-Deo-26
I-Jan-27
106%
0
$230
so
0
$66
$0
0
$195
$0
0
$88
so
0
$292
$0
0
31-Deo-27
1426
108%
0
$235
so
0
$67
$0
0
$198
$0
0
$90
so
0
$298
so
0
31-Deo-28
1-Jan-29
I10%
0
$240
$O
0
$68
$0
0
$202
$O
0
$92
SO
0
$304
SO
0
31-beo-29
I-Jan-30
113%
0
$245
so
0
$70
$0
0
$206
s0
0
$94
SO
0
$310
so
0
31-Deo-30
I-Jan-31
115%
0
$249
so
0
$71
$0
0
$211
$0
0
$96
$0
0
$316
$0
0
31-Dk 31
I-Jan-32
117%
0
$254
so
0
$72
SO
0
$215
so
0
$97
so
0
$322
$0
0
31-Deo-32
I-Jan-33
120%
0
$260
so
0
$74
$0
0
$219
$0
0
S99
$0
0
$329
$0
0
31-Deo-33
1-Jaa-34
122%
0
$265
so
0
$75
so
0
$223
so
0
$101
SO
0
$335
so
0
3I-Deo-34
1-Jan-35
124%
0
$270
so
0
$77
SO
0
$228
$0
0
$103
$0
0
$342
$0
0
31-Deo-35
I-Jan-36
1270/6
0
$275
so
0
$78
so
0
$233
so
0
$105
$0
0
$349
$0
0
31-Deo-36
1-Jaa-37
129%
0
$281
so
0
$80
$0
0
$237
$0
0
$108
SO
0
$356
$0
0
31-Deo-37
I-Jan-38
132%
0
$287
so
0
$82
SO
0
$242
s0
0
$110
so
0
$363
so
0
31-Deo-36
1-Jan-39
135%
0
$292
so
0
$83
$0
0
$247
$0
0
$112
so
0
$370
$0
0
31-Deo-39
1-Jan40
1371/6
0
$298
so
0
$85
$0
0
$252
s0
0
$114
$0
0
$378
$0
0
31-Dec40
1-Jan41
140%
0
$304
$0
0
$87
$0
0
$257
$0
0
$116
so
0
$385
SO
0
31-Dec4l
1-Jan42
143%
0
$310
s0
0
$88
$0
0
$262
s0
0
$119
SO
0
$393
$0
0
31-Dec-42
1-Jan43
146%
0
$316
so
0
$90
$0
0
$267
so
0
$121
$0
0
S401
$0
0
31-Dec43
14an-44
149%
0
$323
so
0
$92
so
0
$272
so
0
$124
so
0
S409
$0
0
31-Dec-44
I-Jan45
1521/
0
$329
So
0
$94
$0
0
$278
so
0
S126
$0
0
S417
SO
0
31-Deo45
1-Jan46
155%
0
$336
$0
0
$96
$0
0
$283
$0
0
$129
so
0
S425
$0
0
31-Dec46
1-Jan47
158%
450,413
$342
$154,263,093
301,971
$97
$29,429,917
261,360
$289
$75,559,705
45,739
$131
$5,997,196
32,670
$434
$14,167,257
279,416,159
31-Dec-47
I-Jan48
161%
450,413
$349
$157,349,354
301,871
$99
$30,018,515
261,360
$295
$77,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
285,004,481
31-Dec48
1-Jan49
164%
450,413
$356
$160,495,322
301,871
$101
$30,618,886
261,360
$301
$78,611,277
45,739
$136
$6,239,472
32,670
$451
$14,739,614
290,704,571
31-Deo49
1-Jan-50
167%
450,413
$363
$163,705.228
301,871
$103
$31,231,264
261360
$307
$80,183,502
45,739
$139
$6,364,262
32,670
$460
$15,034,407
296,519,662
31-Deo-50
1-tan-51
171%
450,413
$371
$166,979,333
301,871
$106
$31,855,889
261,360
$313
$91,787,172
45,738
$142
$6,491,547
32,670
$469
$15,335,095
302,449,036
31-Dk 51
1-Jan-52
174%
450,413
$378
$170,318,9I9
301,871
$108
$32,493,007
261,360
$319
$83,422,916
45,739
$145
S6,621378
32,670
$479
$15,641,797
308,498,016
31-Deo-52
I-Jan-53
178%
450,413
$386
$173,725,298
301,871
$110
$33,142,867
261,360
$326
$85,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
314,667,977
31-Deo-53
1-Jms-54
181%
450,413
S393
$177,199,903
301,971
$112
$33,905,724
261360
$332
$86,793,202
45,739
$151
$6,989,992
32,670
$498
$16,273,725
320,961336
31-Deo-54
I-Jan-55
185%
450,413
$401
$180,743,900
301,871
$114
$34,481,838
261,360
$339
$89,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
327,380,563
31-Deo-55
I-Jan-56
188%
450,413
$409
$184,358,676
301,871
$117
$35,171,475
261,360
$345
$90,299,647
45,738
$157
$7,167,193
32,670
$518
$16,931,184
333,928,174
3l-Deo-56
1-Jan-57
192%
450,413
$417
$188,045,849
301,871
$119
$35,874,905
261,360
$352
$92,105,640
45,736
$160
$7,31Q536
32,670
$529
$17,269,607
34Q606,736
31-Dec-57
1-lava-58
196%
450,413
$426
$191,806,766
301,871
$121
$36,592,403
261,360
$359
$93,947,753
45,738
$163
$7,456,747
32,670
$539
$17,615,204
347,418,873
31-Deo-58
1-Jai-59
200%
450,413
$434
$195,642,901
301,871
$124
$37,324,251
261,360
$367
$95,826,708
45,738
$166
$7,605982
32,670
$550
$17,967,508
354,367,250
31-Deo-59
I-Jan-60
204%
450,413
$443
$199,555,759
301,871
$126
$38,070,736
261,360
$374
$97,743,242
45,738
$170
$7,758,D00
32,670
$561
$18,326,858
361,454,595
31-Dec-60
I-Jan61
208%
450,413
$452
$203,546,975
301,871
$129
$38,832,151
261,360
$381
$99,698.107
45,738
$173
$7,913,160
32,670
$572
$18,693,395
368,683,687
31-Deo-61
Wx1 62
212%
450,413
$461
$207,617,812
301,871
$131
$39.608,794
261,360
$389
$101,692,069
45,738
$176
$8,071,423
32,670
$584
$19,067,263
376,057,361
31-Dec62
I-Jan63
216%
450,413
$470
$211,770,168
301,871
$134
$40,400,970
261,360
$397
$103,725,910
45,738
$180
$8,232,851
32,670
$595
$19,448,608
383,578,508
31-Dec63
1-Jan-64
221%
450,413
$480
$216,005,572
301,871
$137
$41,208,989
261,360
$405
$105,900,429
45,738
$184
$8,397,5D8
32,670
$607
$19,837,580
391,250,079
31-Dec64
1-Jan65
225%
450,413
$489
$220,325,683
301,871
$139
$42,033,169
261,360
S413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
399,075,080
31-Dec65
I-Jaa66
230%
450,413
S499
$224,732,197
301,871
$142
S42,873,832
261,360
S421
$110,074,766
45,738
$191
$8,736,768
32,670
$632
$20,639,019
407,056,581
31-Dec66
I-Jan67
234%
450,413
$509
$229,226,841
301,871
$145
$43,731,309
261,360
S430
$112,276,261
45,738
$195
$8,911,503
32,670
$644
$21,051,799
415,197,713
31-Dec67
I-Jan68
239%
450,413
$519
S233,811378
301,871
$148
944,605,935
261,360
$438
$114,521,786
45,738
$199
S9,D89,733
32,670
$657
$21,472,835
423,501,667
31-Dec68
I-Jan69
244%
450,413
$529
$238,487,605
301,871
$151
$45,498,054
261360
$447
$116,812,222
45,738
$203
$9,271,528
32,670
$670
$21,902,292
431,971,700
31-Dec-69
I-Jan-70
249%
450,413
$540
$243,257,357
301,871
$154
S46,408,015
261,360
$456
$119,I48,467
45,738
$207
$9,456,958
32,670
$684
$22340,337
440,611,134
31-Deo-70
1-Jan-71
254%
450,413
S551
$248,122,504
301,871
$157
S47,336,175
261,360
S465
$121,531.436
45,738
$211
$9,646,099
32,670
$697
$22,787,144
449,423,357
31-Deo-71
14a 72
259%
450,413
$562
$253,094,954
301,871
$160
S48,282,898
261,360
S474
$123,962,065
45,738
$215
$9,839,020
32,670
$711
$23,242,887
458,411,824
31-Deo-72
1-Jan-73
264%
450,413
$573
$258,146,653
301,871
$163
S49,248,556
261,360
S484
$126,441,306
45.738
$219
$10,035,800
32.670
$726
$23,707,745
467,580,061
31-Deo-73
1-Jan-74
269%
450,413
$585
$263,309,587
301,871
$166
$50,233,528
261,360
$493
$128,970,132
45,738
$224
$10,236,516
32,670
$740
$24,181,9W
476,931,662
31-Dec-74
1-Jan-75
275%
450,413
$596
$268,575,778
301,871
$170
$51,238,198
261360
$503
$131,549,535
45,738
$228
$10,441,246
32,670
$755
$24,665,538
486,470,295
31-Deo-75
I-Jan-76
280%
450,413
$608
$273,947,294
301,871
$173
552,262,962
261,360
$513
$134,190,525
45,739
S233
$10,650,071
32,670
$770
$25,158,949
496,199,101
MuniCap. Jne.
'Amu ding b 4w Parker County Appraisal Dinria and Twrant Count Appmisat Dmaiet pmpeny is e.-d ea ofJ-..y I aunun8y. During con t uction. area mead value reprtxats On pmtimr ofthe building completed es o4Jmwuy 1. Assumes an asmad value during construction
2Assumo an annual inlletian factor of 2 0%
'PmvWnd by the Developer.
EXHIBIT C-1.23
PROJECTED TAXABLE VALUE - 2047 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit C-1.23: Projected Assessed Value - 2047 Development'
Residential
Commercial
Development
2.0%
Multi-Fatmly
Industrial
Retell (Big Box)
Retail (Pad/Inline)
Year
Assessed
Inttation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
End'm
As Of
Feel.?
S Fe
S Ft
Assessed Value
S Ft'
S Ft
Assessed Value
S Ft3
S Ft
Assessed Value
S Fr
S Ft
Assessed Value
Assessed Value
3
10M
0
0
o
$a
to
0
5275
so
0
31-Dec-24
1'Jan-25
102%
0
$217
$0
0
$63
$0
0
$85
SO
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
SO
0
$64
SO
0
$87
SO
0
$296
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
SO
0
$66
$0
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$235
$0
0
$67
$0
0
$90
SO
0
$298
$0
0
31-Dec-28
1-Jan-29
110a/
0
$240
SO
0
$68
$0
0
$92
SO
0
$304
$0
0
31-Dec-29
I-Jan-30
113%
0
$245
SO
0
$70
SO
0
$94
SO
0
$310
$0
0
31-Dec-30
1-Jan-31
115%
0
$249
$0
0
$71
$0
0
$96
SO
0
$316
$0
0
31-Dec-31
1-Jan-32
11T/o
0
$254
SO
0
$72
$0
0
$97
SO
0
$322
$0
0
31-Dec-32
1-Jan-33
120%
0
$260
SO
0
$74
$0
0
$99
SO
0
$329
$0
0
31-Doe33
I-Jan-34
122%
0
$265
SO
0
$75
$0
0
$101
SO
0
$335
$0
0
31-Dec-34
1-Jan-35
124%
0
$270
$0
0
$77
$0
0
$103
SO
0
$342
$0
0
31-Dec-35
1-Jan-36
1270/a
0
$275
$0
0
$78
SO
0
$105
SO
0
$349
SO
0
31-Dec-36
1-Jan-37
129a/s
0
$281
$0
0
$80
$0
0
$108
SO
0
$356
SO
0
31-Dec-37
I-Jan-38
132%
0
$287
SO
0
$82
$0
0
$110
SO
0
$363
$0
0
31-Dec-38
1-Jan-39
135%
0
$292
$0
0
$83
$0
0
$112
$0
0
$370
$0
0
31-Dec-39
1-Jan4tl
137a/o
0
$299
SO
0
S95
s0
0
S114
SO
0
$378
SO
0
31-Deo-4O
1-Jan-41
140%
0
$304
$0
0
$87
$0
0
$116
SO
0
$385
$0
0
31-Dec41
1-Jan-42
143%
0
$310
$0
0
$88
$0
0
$119
SO
0
$393
$0
0
31-Dec42
1-Jan-43
146%
0
$316
$0
0
$90
$0
0
$121
$0
0
$401
$0
0
31-Dec-43
1-Jan- 4
149%
0
$323
$0
0
$92
$0
0
$124
SO
0
$409
SO
0
31-Dec-44
1-Jan-45
152%
0
$329
$0
0
$94
$0
0
$126
SO
0
$417
$0
0
31-Dee-45
I-Jan-46
155%
0
$336
$0
0
$96
$0
0
$129
SO
0
$425
SO
0
31-Dec-46
1-Jan47
158%
0
$342
SO
0
$97
SO
0
$131
$0
0
$434
$0
0
31-Deo-47
I-Jan48
161%
450,413
$349
S157,348,354
301,871
$99
$30,018,515
45,738
$134
S6,117,130
32,670
$442
$14,450,602
207,934,602
31-Dec-48
1-Jan49
164%
450,413
$356
$160,495,322
301,871
$101
$30,618,886
45,738
$136
$6,239,472
32,670
$451
$14,739,614
212,093,294
31-Dee-49
I-Jan-50
1671%
450,413
$363
$163,705,228
301,871
$103
$31,231,264
45,738
$139
$6,364,262
32,670
5460
$15,034,407
216,335,160
31-Dec-50
1-Jan-51
171%
450,413
$371
$166,979,333
301,871
$106
$31,855,889
45,738
$142
$6,491,547
32,670
$469
$15,335,095
220,661,863
31-Dec51
1-Jan-52
174%
450,413
$378
$170,318,919
301,871
$108
$32,493,007
45,738
$145
$6,621,379
32,670
$479
S15,641,797
225,075,101
31-Dec-52
1-Jan-53
178%
450,413
S386
$173,725,298
301,871
$110
$33,142,967
45,738
$148
$6,753,806
32,670
$488
S15,954,633
229,576,603
31-Deo-53
I-Jan-54
181%
450,413
$393
$177,199,903
301,871
$112
$33,805,724
45,738
$151
$6,888,882
32,670
$498
$16,273,725
234,168,135
31-Dec-54
I-Jan-55
185%
450,413
$401
$180,743,800
301,871
$114
$34,481,838
45,738
$154
$7,026,659
32,670
$508
$16,599,200
238,851,497
31-Dec55
1-Jan-56
188%
450,413
$409
$194,358,676
301,871
$117
$35,171,475
45,738
$157
$7,167,193
32,670
$518
$16,931,194
243,628,527
31-Dec-56
I-Jan-57
1929/6
450,413
S417
$199,045,949
301,971
S119
$35,974,905
45,738
$160
S7,310,536
32,670
$529
S17,269,807
249,501,098
31-Dec-57
1-Jan-58
196%
450,413
$426
S191,806,766
301,871
$121
$36,592,403
45,738
$163
$7,456,747
32,670
$539
$17,615,204
253,471,120
31-Dec-58
I-Jan-59
200%
450,413
$434
S195,642,901
301,871
$124
$37,324,251
45,738
$166
$7,605,882
32,670
$550
$17,967,508
258,540,542
31-Dec-59
1-Jan-60
204%
450,413
$443
$199,555,759
301,871
$126
S38,070,736
45,738
$170
$7,758,000
32,670
$561
Sl"26,858
263,711,353
31-Dec-60
1-Jan-61
208%
450,413
$452
S203,546,875
301,871
$129
$38,832,151
45,738
$173
$7,913,160
32,670
$572
$18,693,395
268,985,580
31-Dec-61
1-Jan-62
212%
450,413
$461
S207,617,812
301,871
$131
$39,608,794
45,738
$176
$8,071,423
32,670
$584
$19,067,263
274,365,292
31-Dec-62
1-Jan-63
216%
450,413
$470
S211,770,168
301,871
$134
$40,400,970
45,738
$180
$8,232,851
32,670
$595
$19,448,608
279,852,597
31-Dec-63
1-Jan-64
221%
450,413
$480
$216,005.572
301,871
$137
$41,208,989
45,738
$184
$8,397,508
32,670
$607
$19,837,590
285,449,649
31-Dec-64
1-Jan-65
225%
450,413
$489
$220,325,683
301,871
$139
$42,033,169
45,738
$187
$8,565,459
32,670
$619
$20,234,332
291,158,642
31-Dec-65
1-Jan-66
230%
450,413
$499
S224,732,197
301,871
$142
$42,873,832
45,738
$191
$8,736,768
32,670
$632
$20,639,019
296,981,815
31-Deo-66
I-Ian-67
234%
450,413
$509
$229,226,941
301,871
$145
$43,731,309
45,738
$195
$8,911,503
32,670
$644
S21,051,799
302,921,452
31-Dec-67
I-Jan-68
239Ys
450,413
$519
S233,811,378
301,871
$148
$44,605,935
45,738
$199
$9,089,733
32,670
$657
$21,472,835
308,979,881
31-1)eo-68
1-Jan-69
244%
450,413
$529
$238,487,605
301,871
$151
$45,498,054
45,738
$203
$9,271,528
32,670
$670
$21,902,292
315,159,478
31-Dee-69
I-Jan-70
2491/.
450,413
$540
$243,257,357
301,871
$154
546,408,015
45,738
$207
$9,456.958
32,670
$684
$22,340,337
321,462,668
31-Deo-70
1-Jan-71
254%
450,413
$551
$248,122,504
301,871
$157
$47,336,175
45,738
$211
$9,646,098
32,670
$697
$22,787,144
327,891,921
31-Dec-71
1-Jan-72
259a/a
450,413
$562
S253,084,954
301,871
$160
$48,282,898
45,738
$215
$9,839,020
32,670
$711
S23,242,887
334,449,760
31-Dec72
1-Jan-73
264%
450,413
$573
$258,146,653
301,871
$163
$49,248,556
45,738
$219
$10,035,800
32,670
$726
$23,707,745
341,138,755
31-Dec-73
1-3m.74
269a/
450,413
$595
$263,309,587
301,971
S166
$50,233,529
45,738
$224
$10,236,516
32,670
$740
S24,181,900
347,961.530
31-Deo-74
1-Jan-75
275%
450,413
$596
$268,575,778
301,871
$170
$51,238,198
45,738
$228
$10,441,246
32,670
$755
S24,665,538
354,920,760
31-1) o-75
I-Jan-76
280%
450,413
$608
S273,947,294
301,871
$173
$52,262,962
45,738
$233
$10,650,071
32,670
$770
$25,158,849
362,019,176
31-Dec-76
1-Jan-77
286%
450,413
$620
S279,426,240
301,871
$177
$53,308,221
45,738
$238
$10,863,073
32,670
$785
$25,662,025
369,259,559
ManiCap, 1-
'According to the Parker County Apprnial Didnet and Tartan[ Cant Appraisal District property is assessed as of January 1 annually. During construction. the awned value represents the portion of the building completed as of Janmry 1. Assumes no awned nlm during eons ruetioe_
2Aaimms an annual inflation factor of 2 (M.
'Pronded by the Developer.
EXHIBIT C-1.24
PROJECTED TAXABLE VALUE - 2048 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit C-1.24, Projected Assessed Value - 2048 Development'
Residential
Commercial
Development
2.0%
Mdti-Family
Industrial
Retail(Pad/Inline)
Year
Assessed
Inflation
Value POT
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Fndin
As Of
Facto?.
S Ft'
S Ft
Assessed Value
S Ft3
S Ft
Assessed Value
S Ftr
S Ft
Assessed Value
Assessed Value
3l
1
1
P
S211
SO
#
!0'
g
�9S
31-Dec-24
1-Jan-25
102%
0
$217
$0
0
$63
so
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
$0
0
$64
SO
0
$286
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
SO
0
S66
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$235
$0
0
$67
S0
0
$298
$0
0
31-Dec-28
1-Jan-29
110%
0
$240
$0
0
$68
so
0
$304
so
0
31-Dec-29
1-Jan-30
113%
0
$245
$0
0
$70
$0
0
$310
so
0
31-Dec-30
I-Jan-31
115%
0
$249
$0
0
$71
$0
0
$316
so
0
31-Dec-31
I-Jan-32
117%
0
$254
$0
0
$72
So
0
$322
$0
0
31-Dec-32
1-Jan-33
120%
0
$260
$0
0
$74
SO
0
$329
$0
0
31-Dec-33
I-Jan-34
122%
0
$265
$0
0
$75
$0
0
$335
$0
0
31-Dec-34
I-Jan-35
124%
0
$270
so
0
$77
$0
0
$342
$0
0
31-Dec-35
I-Jan-36
127%
0
$275
so
0
$78
so
0
$349
$0
0
31-Dec-36
1-Jan-37
129%
0
$281
$0
0
$80
$0
0
$356
SO
0
31-Dec-37
I-Jan-38
132%
0
$287
so
0
$82
so
0
$363
so
0
31-Dec-38
l-Jan-39
135%
0
$292
so
0
$93
$0
0
$370
so
0
31-Dec,39
1431140
137%
0
$298
so
0
$95
$0
0
$378
$0
0
31-Dee-40
1-JM41
140%
0
$304
$0
0
$87
so
0
$395
$0
0
31-Dec41
I-Jan42
143%
0
$310
$0
0
$88
so
0
$393
so
0
31-Dec-42
1-Jan-43
146%
0
$316
$0
0
$90
S0
0
$401
$0
0
31-Dec43
Wan44
149%
0
$323
$0
0
$92
SO
0
5409
so
0
31-Dec44
1-Jan45
152%
0
$329
$0
0
$94
so
0
$417
$0
0
31-Dec-45
1-Jan46
155%
0
$336
so
0
$96
so
0
$425
$0
0
31-Dec-46
I-Jan47
159%
0
$342
so
0
$97
so
0
$434
$0
0
31-Dec-47
1-Jan48
161%
0
$349
so
0
$99
so
0
5442
$0
0
31-Dec-48
1-JM49
164%
450,413
$356
$160,495,322
301,871
$101
$30,618,886
32,670
$451
$14,739.614
206,150,939
31-Dec49
1-Jan-50
167%
450,413
$363
$163,705,228
301,871
$103
$31,231,264
32,670
$460
$15,034,407
210,273,958
31-Dec-50
1-Jan-51
171%
450,413
$371
$166,979,333
301,971
$106
$31,955,999
32,670
$469
$15,335,095
214,479,437
31-Doc51
I-Jan-52
174%
450,413
$378
S170,318,919
301,871
$108
$32,493,007
32,670
$479
$15,641,797
218,769,026
31-Dec-52
1-Jan-53
178%
450,413
$386
$173.725,298
301,871
$110
533,142,867
32,670
$488
$15,954,633
223,144,407
31-Dec-53
1-Jan-54
181%
450,413
$393
5177,199,803
301,971
$112
$33,905,724
32,670
$498
$16,273,725
227,607,295
31-Dec-54
1-Jan-55
195%
450,413
$401
$190,743,800
301,971
$114
$34,491,838
32,670
$509
$16,599,200
232,159,441
31-Dec-55
1-Jan-56
199%
450,413
$409
$184.359,676
301,971
$117
$35,171,475
32,670
$519
$16.931,184
236,802,630
31-Dec-56
1-Jan-57
192%
450,413
$417
$188,045,849
301,971
$119
$35,974,905
32,670
$529
$17,269,807
241,539,692
31-Doc57
I-Jan-58
196%
450,413
$426
$191,806,766
301,871
$121
$36,592,403
32,670
$539
$17,615,204
246,369,456
31-Dec-58
1-Jan-59
200%
450,413
$434
$195,642,901
301,971
$124
$37,324,251
32,670
$550
$17,967,509
251,296,945
31-Dec-59
I-Jan-60
204%
450,413
$443
$199,555,759
301,871
$126
$39,070,736
32,670
$561
518,326,858
256,322,782
31-Dea60
1-Jan-61
209%
450,413
$452
$203,546,875
301,971
$129
$38,832,151
32,670
$572
$19,693,395
261,449,237
31-Dea61
1-Jan-62
212%
450,413
$461
$207,617,812
301,971
$131
$39,609,794
32,670
$584
$19,067,263
266,679,222
31-Dec-62
I-Jan-63
216%
450,413
$470
$211,770,169
301,971
$134
$40,400,970
32,670
$595
$19,448,609
272,011,797
31-Dec-63
I-Jan•64
221%
450,413
$480
$216,005,572
30I,871
$137
$41,209,989
32,670
$607
$19,837,590
277,452,022
31-Dec-64
I-Jan-65
225%
450,413
$489
$220,325,683
301,971
$139
$42,033,169
32,670
$619
$20,234,332
293,001,063
31-Dec-65
I-Jan-66
230%
450,413
$499
$224,732,197
301,871
$142
$42,973,932
32,670
$632
S20,639,019
288,661,084
31-Dec-66
1-Jan-67
234%
450,413
$509
$229,226,841
301,871
$145
$43,731,309
32,670
$644
$21,051,799
294,434,306
31-Dec-67
I-Jan-68
239%
450,413
$519
5233,811,378
301,871
$148
544,605,935
32,670
$657
$21,472,835
300,322,992
31-Dec-68
I-Jan-69
244%
450,413
$529
5238,487,605
301,971
$151
$45,499,054
32,670
$670
$21,902,292
306,329,452
31-Dec-69
1-Jart-70
249%
450,413
$540
$243,257,357
301,871
$154
$46,408,015
32,670
$684
$22,340,337
312,456,041
31-Dec-70
1-Jan-71
254%
450,413
$551
$249,122,504
301,971
$157
547,336,175
32,670
$697
$22,787,144
319,705,161
31-Deo-71
Wan-72
259%
450,413
$562
$253,094,954
301,871
$160
$48,292,898
32,670
$711
$23,242,897
325,079,265
31-Deo72
1-Jan-73
264%
450,413
$573
5258,146,653
301,971
$163
$49,249,556
32,670
$726
$23,707,745
331,590,950
31-Dec-73
1-Jen-74
269%
450,413
$595
$263,309,587
301,871
$166
$50,233,529
32,670
$740
$24,181,900
338,212,467
31-Dec-74
1-Jan-75
275%
450,413
$596
$269,575,778
301,971
$170
$51,238,198
32,670
$755
$24,665,539
344,976,716
31-Dec-75
1-Jan-76
290%
450,413
$608
$273,947,294
301,971
$173
$52,262,962
32,670
$770
$25,159,949
351,876,251
31-Dec-76
I-Jan-77
286%
450,413
$620
$279,426,240
301,871
$177
$53,309,221
32,670
$785
$25,662,025
359,913,776
31-Dec-77
Wan-78
291%
450,413
$633
$285.014,765
301,871
$I80
$54,374,396
32,670
$801
$26,175,266
366,092,051
M- Cap, Inc.
'According b me Pad -Canty Apra." District end Tmrmt Cams APpmssl District property is asserted as oUsmury 1 emmally Amng mstrt tinn, the assessed w1w represents the port=of f e building canpafed d ofSmwrp 1. A- w screed value dmvig
'Assumes an sanest adleCam [how of2.0%.
sp-&d by se Developer.
EXHIBIT C-1.25
PROJECTED TAXABLE VALUE - 2049 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1.25: Projected Assessed Value - 2049 Development
Residential
Commercial
Development
2.0%
Multi -Family
Industrial
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Total Projected
Ending
As Oft
Factor'
Sq Ft'
S Ft
Assessed Value
Sq Ft'
S Ft
Assessed Value
Assessed Value
1 ...
dQY.
0
J3
0
0
$12
4D
U
31-Dec-24
1-Jan-25
102%
0
$217
$0
0
$63
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
$0
0
$64
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
$0
0
$66
$0
0
31-Dec-27
1-Jan-28
108%
0
$235
$0
0
$67
$0
0
31-Dec-28
1-Jan-29
110%
0
$240
$0
0
$68
$0
0
31-Dec-29
1-Jan-30
113%
0
$245
$0
0
$70
$0
0
31-Dec-30
1-Jan-31
115%
0
$249
$0
0
$71
$0
0
31-Dec-31
1-Jan-32
117%
0
$254
$0
0
$72
$0
0
31-Dec-32
I Jan-33
120%
0
$260
$0
0
$74
$0
0
31-Dec-33
1-Jan-34
122%
0
$265
$0
0
$75
$0
0
31-Dec-34
1-Jan-35
124%
0
$270
$0
0
$77
$0
0
31-Dec-35
1-Jan-36
127%
0
$275
$0
0
$78
$0
0
31-Dec-36
1-Jan-37
129%
0
$281
$0
0
$80
$0
0
31-Dec-37
1-Jan-38
132%
0
$287
$0
0
$82
$0
0
31-Dec-38
1-Jan-39
135%
0
$292
$0
0
$83
$0
0
31-Dec-39
1-Jan-4O
137%
0
$298
$0
0
$85
$0
0
31-Dec-40
1-Jan-4l
140%
0
$304
$0
0
$87
$0
0
31-Dec-41
1-Jan-42
143%
0
$310
$0
0
$88
$0
0
31-Dec-42
1-Jan-43
146%
0
$316
$0
0
$90
$0
0
31-Dec43
1-Jan-44
1490/6
0
$323
$0
0
$92
$0
0
31-Dec-44
1-Jan-45
152%
0
$329
$0
0
$94
$0
0
31-Dec-45
1-Jan-46
155%
0
$336
$0
0
$96
$0
0
31-Dec-46
1-Jan-47
158%
0
$342
$0
0
$97
$0
0
31-Dec-47
1-Jan-48
161%
0
$349
$0
0
$99
$0
0
31-Dec-48
1-Jan-49
164%
0
$356
$0
0
$101
$0
0
31-Dec-49
1-Jan-50
167%
450,413
$363
$163,705,228
301,871
$103
$31,231,264
194,936,491
31-Dec-50
1-Jan-51
171%
450,413
$371
$166,979,333
301,871
$106
$31,855,889
198,835,221
31-Dec-51
1-Jan-52
174%
450,413
$378
$170,318,919
301,871
$108
$32,493,007
202,811,926
31-Dec-52
1-Jan-53
178%
450,413
$386
$173,725,298
301,871
$110
$33,142,867
206,868,164
31-Dec-53
1-Jan-54
181%
450,413
$393
$177,199,803
301,871
$112
$33,805,724
211,005,528
31-Dec-54
1-Jan-55
185%
450,413
$401
$180,743,800
301,871
$114
$34,481,838
215,225,638
31-Dec-55
1-Jan-56
188%
450,413
$409
$184,358,676
301,871
$117
$35,171,475
219,530,151
31-Dec-56
1-Jan-57
192%
450,413
$417
$188,045,849
301,871
$119
$35,874,905
223,920,754
31-Dec-57
1-Jan-58
196%
450,413
$426
$191,806,766
301,871
$121
$36,592,403
228,399,169
31-Dec-58
1-Jan-59
200%
450,413
$434
$195,642,901
301,871
$124
$37,324,251
232,967,152
31-Dec-59
1-Jan-60
204%
450,413
$443
$199,555,759
301,971
$126
$38,070,736
237,626,495
31-Dec-60
I Jan-61
208%
450,413
$452
$203,546,875
301,871
$129
$38,832,151
242,379,025
31-Dec-61
1-Jan-62
212%
450,413
$461
$207,617,812
301,871
$131
$39,608,794
247,226,606
31-Dec-62
1-Jan-63
216%
450,413
$470
$211,770,168
301,871
$134
$40,400,970
252,171,138
31-Dec-63
1-Jan-64
221%
450,413
$480
$216,005,572
301,871
$137
$41,208,989
257,214,561
31-Dec-64
1-Jan-65
225%
450,413
$489
$220,325,683
301,871
$139
$42,033,169
262,358,852
31-Dec-65
1-Jan-66
230%
450,413
$499
$224,732,197
301,871
$142
$42,873,832
267,606,029
31-Dec-66
1-Jan-67
234%
450,413
$509
$229,226,841
301,871
$145
$43,731,309
272,958,149
31-Dec-67
1-Jan-68
239%
450,413
$519
$233,811,378
301,871
$148
$44,605,935
278,417,312
31-Dec-68
1-Jan-69
244%
450,413
$529
$238,487,605
301,871
$151
$45,498,054
283,985,659
31-Dec-69
1-Jan-70
249%
450,413
$540
$243,257,357
301,971
$154
$46,408,015
289,665,372
31-Dec-70
1-Jan-71
254%
450,413
$551
$248,122,504
301,871
$157
$47,336,175
295,458,679
31-Dec-71
1Jan-72
259%
450,413
$562
$253,084,954
301,871
$160
$48,282,898
301,367,853
31-Dec-72
1-Jan-73
264%
450,413
$573
$258,146,653
301,871
$163
$49,248,556
307,395,210
31-Dec-73
1-Jan-74
269%
450,413
$585
$263,309,587
301,971
$166
$50,233,528
313,543,114
31-Dec-74
1-Jan-75
275%
450,413
$596
$268,575,778
301,871
$170
$51,238,198
319,813,976
31-Dec-75
1-Jan-76
280%
450,413
$608
$273,947,294
301,871
$173
$52,262,962
326,210,256
31-Dec-76
1-Jan-77
286%
450,413
$620
$279,426,240
301,871
$177
$53,308,221
332,734,461
31-Dec-77
1-Jan-78
291%
450,413
$633
$285,014,765
301,871
$180
$54,374,386
339,389,150
31-Dec-78
1-Jan-79
297%
450,413
$645
$290,715,060
301,871
$184
$55,461,873
346,176,933
MuniCap, Inc.
According to the Parker County Appraisal District and Tarrant Count Appraisal District property is assessed as of January 1 annually. During construction, the assessed value represents the portion of the
building completed as of January 1. Assumes no assessed value during construction.
'Assumes an annual inflation factor of 2.0%.
3Provided by the Developer.
EXHIBIT C-1.26
PROJECTED TAXABLE VALUE - 2050 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1.26: Projected Assessed Value - 2050 Development]
Residential
Commercial
Development
2.0%
Multi -Family
Industrial
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Total Projected
Ending
As Cf
Factorz
Sq Ft'
Sq Ft
Assessed Value
Sq Fe
S9 Ft
Assessed Value
Assessed Value
l
0"
$213
,�
.6
31-Dec-24
1-Jan-25
102%
0
$217
$0
0
$63
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
$0
0
$64
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
$0
0
$66
$0
0
31-Dec-27
1-Jan-28
108%
0
$235
$0
0
$67
$0
0
31-Dec-28
1-Jan-29
110%
0
$240
$0
0
$68
$0
0
31-Dec-29
1-Jan-30
113%
0
$245
$0
0
$70
$0
0
31-Dec-30
1-Jan-31
115%
0
$249
$0
0
$71
$0
0
31-Dec-31
1-Jan-32
117%
0
$254
$0
0
$72
$0
0
31-Dec-32
1-Jan-33
120%
0
$260
$0
0
$74
$0
0
31-Dec-33
1-Jan-34
122%
0
$265
$0
0
$75
$0
0
31-Dec-34
1-Jan-35
124%
0
$270
$0
0
$77
$0
0
31-Dec-35
1-Jan-36
127%
0
$275
$0
0
$78
$0
0
31-Dec-36
1-Jan-37
129%
0
$281
$0
0
$80
$0
0
31-Dec-37
1-Jan-38
132%
0
$287
$0
0
$82
$0
0
31-Dec-38
1-Jan-39
135%
0
$292
$0
0
$83
$0
0
31-Dec-39
1-Jan-40
137%
0
$298
$0
0
$85
$0
0
31-Dec-40
1-Jan-41
140%
0
$304
$0
0
$87
$0
0
31-Dec-41
1-Jan-42
143%
0
$310
$0
0
$88
$0
0
31-Dec-42
1-Jan-43
146%
0
$316
$0
0
$90
$0
0
31-Dec-43
1-Jan-44
149%
0
$323
$0
0
$92
$0
0
31-Dec-44
1-Jan-45
152%
0
$329
$0
0
$94
$0
0
31-Dec-45
1-Jan-46
155%
0
$336
$0
0
$96
$0
0
31-Dec-46
1-Jan-47
158%
0
$342
$0
0
$97
$0
0
31-Dec-47
1-Jan-48
161%
0
$349
$0
0
$99
$0
0
31-Dec-48
1-Jan-49
164%
0
$356
$0
0
$101
$0
297,118
31-Dec-49
1-Jan-50
167%
0
$363
$0
0
$103
$0
303,060
31-Dec-50
1-Jan-51
171%
450,413
$371
$166,979,333
301,871
$106
$31,855,889
199,144,343
31-Dec-51
1-Jan-52
174%
450,413
$378
$170,318,919
301,871
$108
$32,493,007
203,127,229
31-Dec-52
1-Jan-53
178%
450,413
$386
$173,725,298
301,871
$110
$33,142,867
207,189,774
31-Dec-53
1-Jan-54
181%
450,413
$393
$177,199,903
301,871
$112
$33,905,724
211,333,569
31-Dec-54
1-Jan-55
185%
450,413
$401
$180,743,800
301,871
$114
$34,481,838
215,560,241
31-Dec-55
1-Jan-56
188%
450,413
$409
$184,358,676
301,871
$117
$35,171,475
219,871,446
31-Dec-56
1-Jan-57
1920/6
450,413
$417
$188,045,849
301,871
$119
$35,874,905
224,268,875
31-Dec-57
I Jan-58
196%
450,413
$426
$191,806,766
301,871
$121
$36,592,403
228,754,252
31-Dec-58
1-Jan-59
200%
450,413
$434
$195,642,901
301,871
$124
$37,324,251
233,329,337
31-Dec-59
1-Jan-60
204%
450,413
$443
$199,555,759
301,871
$126
$38,070,736
237,995,924
31-Dec-60
1-Jan-61
208%
450,413
$452
$203,546,875
301,871
$129
$38,832,151
242,755,842
31-Dec-61
1-Jan-62
212%
450,413
$461
$207,617,812
301,971
$131
$39,608,794
247,610,959
31-Dec-62
1-Jan-63
216%
450,413
$470
$211,770,168
301,871
$134
$40,400,970
252,563,178
31-Dec-63
1-Jan-64
221%
450,413
$480
$216,005,572
301,871
$137
$41,208,989
257,614,442
31-Dec-64
1-Jan-65
225%
450,413
$489
$220,325,683
301,871
$139
$42,033,169
262,766,731
31-Dec-65
1-Jan-66
230%
450,413
$499
$224,732,197
301,871
$142
$42,873,832
268,022,065
31-Dec-66
1-Jan-67
234%
450,413
$509
$229,226,841
301,871
$145
$43,731,309
273,382,507
31-Dec-67
1-Jan-68
239%
450,413
$519
$233,811,378
301,871
$148
$44,605,935
278,850,157
31-Dec-68
1-Jan-69
244%
450,413
$529
$238,487,605
301,871
$151
$45,498,054
284,427,160
31-Dec-69
1-Jan-70
249%
450,413
$540
$243,257,357
301,871
$154
$46,408,015
290,115,703
31-Dec-70
1-Jan-71
254%
450,413
$551
$248,122,504
301,871
$157
$47,336,175
295,918,017
31-Dec-71
1-Jan-72
259%
450,413
$562
$253,094,954
301,871
$160
$48,282,898
301,836,378
31-Dec-72
1-Jan-73
264%
450,413
$573
$258,146,653
301,871
$163
$49,248,556
307,873,105
31-Dec-73
1-Jan-74
269%
450,413
$585
$263,309,587
301,871
$166
$50,233,528
314,030,567
31-Dec-74
1-Jan-75
275%
450,413
$596
$268,575,778
301,871
$170
$51,238,198
320,311,179
31-Dec-75
1-Jan-76
280%
450,413
$608
$273,947,294
301,871
$173
$52,262,962
326,717,402
31-Dec-76
1-Jan-77
286%
450,413
$620
$279,426,240
301,871
$177
$53,308,221
333,251,750
31-Dec-77
1-Jan-78
291%
450,413
$633
$285,014,765
301,871
$180
$54,374,386
339,916,785
31-Dec-78
1-Jan-79
297%
450,413
$645
$290,715,060
301,871
$184
$55,461,873
346,715,121
31-Dec-79
1-Jan-80
303%
450,413
$658
$296,529,361
301,871
$187
$56,571,111
353,649,423
MuniCap, Inc.
'According to the Parker County Appraisal District and Tarrant Count Appraisal District property is assessed as of January 1 annually. During construction, the assessed value represents the portion of the
building completed as of January 1. Assumes no assessed value during construction.
'Assumes an annual inflation factor of2.0%.
3Provided by the Developer.
EXHIBIT C-1.27
PROJECTED TAXABLE VALUE - 2051 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit C-1.27: Proiected Assessed Value - 2051 Development[
Residential
Development
2.0%
Multi -Family
Year
Assessed
Inflation
Value Per
Projected
Total Projected
Errdin
As Of
Factor'
Sq Fe
S Ft
Assessed Value
Assessed Value
31 23
1-JRn 24
1(W!
D
13
$0
0
31-Dec-24
1-Jan-25
102%
0
S217
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
$0
0
31-Dec-27
1-Jan-28
108%
0
S235
$0
0
31-Dec-28
1-Jan-29
110%
0
$240
$0
0
31-Dec-29
1-Jan-30
113%
0
$245
$0
0
31-Dec-30
1-Jan-31
115%
0
$249
$0
0
31-Dec.31
1-Jan-32
117%
0
$254
$0
0
31-Dec-32
1-Jan-33
120%
0
$260
$0
0
31-Dec-33
1-Jan-34
122%
0
S265
$0
0
31-Dec-34
1-Jan-35
124%
0
$270
$0
0
31-Dec-35
1-Jan-36
127%
0
$275
$0
0
31-Dec-36
1-Jan-37
129%
0
$281
$0
0
31-Dec-37
1-Jan-38
132%
0
S287
$0
0
31-Dec-38
1-Jan-39
135%
0
$292
$0
0
31-Dec-39
1-Jan-40
137%
0
$298
$0
0
31-Dec-40
1-Jan-41
140%
0
$304
$0
0
31-Dec-41
1-Jan-42
143%
0
$310
$0
0
31-Dec-42
1-Jan-43
146%
0
$316
$0
0
31-Dec-43
1-Jan-44
149%
0
$323
$0
0
31-Dec-44
1-Jan-45
152%
0
$329
$0
0
31-Dec-45
1-Jan-46
155%
0
S336
$0
0
31-Dec-46
1-Jan-47
158%
0
$342
$0
0
31-Dec-47
1-Jan-48
161%
0
$349
$0
0
31-Dec48
1-Jan-49
164%
0
$356
$0
0
31-Dec-49
1-Jan-50
167%
0
S363
$0
0
31-Dec-50
1-Jan-51
171%
0
$371
$0
0
31-Dec.51
1-Jan-52
174%
450,413
$378
$170,318,919
170,318,919
31-Dec-52
1-Jan-53
178%
450,413
$386
$173,725,298
173,725,298
31-Dec-53
1-Jan-54
181%
450,413
$393
$177,199,803
177,199,803
31-Dec-54
1-Jan-55
185%
450,413
$401
$180,743,800
180,743,800
31-Dec.55
1-Jan-56
188%
450,413
$409
$184,358,676
184,358,676
31-Dec-56
1-Jan-57
192%
450,413
$417
$188,045,849
188,045,849
31-Dec-57
1-Jan-58
196%
450,413
$426
$191,806,766
191,806,766
31-Dec-58
1-Jan-59
200%
450,413
$434
$195,642,901
195,642,901
31-Dec-59
1-Jan-60
204%
450,413
$443
$199,555,759
199,555,759
31-Dec-60
1-Jan-61
208%
450,413
$452
$203,546,875
203,546,875
31-Dec-61
1-Jan-62
212%
450,413
$461
$207,617,812
207,617,812
31-Dec-62
1-Jan-63
216%
450,413
$470
$211,770,168
211,770,168
31-Dec-63
1-Jan-64
221%
450,413
$480
$216,005,572
216,005,572
31-Dec-64
1-Jan-65
225%
450,413
$489
$220,325,683
220,325,683
31-Dec.65
1-Jan-66
230%
450,413
$499
$224,732,197
224,732,197
31-Dec-66
1-Jan-67
234%
450,413
$509
$229,226,841
229,226,841
31-Dec.67
1-Jan-68
239%
450,413
$519
$233,811,378
233,811,378
31-Dec-68
1-Jan-69
244%
450,413
$529
$238,487,605
238,487,605
31-Dec-69
1-Jan-70
249%
450,413
$540
$243,257,357
243,257,357
31-Dec-70
1-Jan-71
254%
450,413
$551
$248,122,504
248,122,504
31-Dec-71
1-Jan-72
259%
450,413
$562
$253,084,954
253,084,954
31-Dec-72
1-Jan-73
264%
450,413
$573
$258,146,653
258,146,653
31-Dec-73
1-Jan-74
269%
450,413
$585
$263,309,587
263,309,587
31-Dec-74
1-Jan-75
275%
450,413
$596
$268,575,778
268,575,778
31-Dec-75
1-Jan-76
280%
450,413
S608
$273,947,294
273,947,294
31-Dec-76
1-Jan-77
286%
450,413
$620
$279,426,240
279,426,240
31-Dec-77
1-Jan-78
291%
450,413
$633
$285,014,765
285,014,765
31-Dec-78
1-Jan-79
297%
450,413
$645
$290,715,060
290,715,060
31-Dec-79
1-Jan-80
303%
450,413
$658
$296,529,361
296,529,361
31-Dec-80
1-Jan-81
309%
450,413
$672
$302,459,948
302,459,948
MuniCap, Inc.
'According to the Parker County Appraisal District and Tarrant Count Appraisal District property is assessed as of January 1 annually. During
construction, the assessed value represents the portion of the building completed as of January 1. Assumes no assessed value during
'Assumes an annual inflation factor of 2.0%.
'Provided by the Developer.
EXHIBIT C-2.1
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2025-2029
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit C-2.1: Pro}ected Assessed Value - All Land Uses - Development Years 2025-2029
Development
2.0%
Total Projected
Year
Assessed
Inflation
2025 Development
2026 Development
2027 Development
2028 Development
2029 Development
Assessed Value
Ending
As Of
Factor'
Projected Assessed Value
Projected Assessed Value'
Projected Assessed Values
Projected Assessed Value6
Projected Assessed Value'
At Buildout
3l Da- _
t4wz-,,24
10t1'dK
b0
31-Dec-24
1-Jan-25
102%
$0
$0
$0
$0
$0
$0
31-Dec-25
1-Jan-26
104%
$164,386,108
$0
$0
$0
$0
$164,386,108
31-Dec-26
1-Jan-27
106%
$167,673,830
$210,016,180
$0
$0
$0
$377,690,010
31-Dec-27
1-Jan-28
108%
$171,027,306
$214,216,504
$51,865,819
$0
$0
$437,109,630
31-Dec-28
1-Jan-29
110%
$174,447,853
$218,500,834
$52,903,136
$435,038,443
$0
$880,890,266
31-Dec-29
1-Jan-30
113%
$177,936,810
$222,870,851
$53,961,198
$443,739,212
$454,060,888
$1,352,568,959
31-Dec-30
1-Jan-31
115%
$181,495,546
$227,328,268
$55,040,422
$452,613,997
$463,142,106
$1,379,620,338
31-Dec-31
1-Jan-32
117%
$185,125,457
$231,874,833
$56,141,231
$461,666,276
$472,404,948
$1,407,212,745
31-Dec-32
1-Jan-33
120%
$188,827,966
$236,512,330
$57,264,056
$470,899,602
$481,853,047
$1,435,357,000
31-Dec-33
1-Jan-34
122%
$192,604,525
$241,242,576
$58,409,337
$480,317,594
$491,490,108
$1,464,064,140
31-Dec-34
1-Jan-35
124%
$196,456,616
$246,067,428
$59,577,523
$489,923,946
$501,319,910
$1,493,345,422
31-Dec-35
1-Jan-36
127%
$200,385,748
$250,988,776
$60,769,074
$499,722,425
$511,346,308
$1,523,212,331
31-Dec-36
1-Jan-37
129%
$204,393,463
$256,008,552
$61,984,455
$509,716,873
$521,573,234
$1,553,676,578
31-Dec-37
1-Jan-38
132%
$208,481,332
$261,128,723
$63,224,144
$519,911,211
$532,004,699
$1,594,750,109
31-Dec-38
1-Jan-39
135%
$212,650,959
$266,351,297
$64,488,627
$530,309,435
$542,644,793
$1,616,445,111
31-Dec-39
1-Jan-40
137%
$216,903,978
$271,678,323
$65,778,400
$540,915,624
$553,497,689
$1,648,774,014
31-Dec-40
1-Jan-41
140%
$221,242,058
$277,111,890
$67,093,968
$551,733,936
$564,567,642
$1,681,749,494
31-Dec-41
1-Jan-42
143%
$225,666,899
$282,654,128
$68,435,847
$562,768,615
$575,858,995
$1,715,384,494
31-Dec-42
1-Jan-43
146%
$230,180,237
$288,307,210
$69,804,564
$574,023,987
$587,376,175
$1,749,692,173
31-Dec-43
1-Jan-44
149%
$234,783,841
$294,073,354
$71,200,655
$585,504,467
$599,123,699
$1,784,686,017
31-Dec-44
1-Jan-45
152%
$239,479,518
$299,954,822
$72,624,669
$597,214,556
$611,106,173
$1,820,379,737
31-Dec-45
1-Jan-46
155%
$244,269,109
$305,953,918
$74,077,162
$609,158,847
$623,328,296
$1,856,787,332
31-Dec-46
1-Jan-47
158%
$249,154,491
$312,072,996
$75,558,705
$621,342,024
$635,794,862
$1,893,923,079
31-Dec-47
1-Jan-48
161%
$254,137,581
$318,314,456
$77,069,879
$633,768,865
$648,510,759
$1931,801,540
31-Dec-48
1-Jan-49
164%
$259,220,332
$324,680,745
$78,611,277
$646,444,242
$661,480,974
$1,970,437,571
31-Dec-49
1-Jan-50
167%
$264,404,739
$331,174,360
$80,183,502
$659,373,127
$674,710,594
$2,009,846,322
31-Dec-50
1-Jan-51
171%
$269,692,834
$337,797,847
$81,787,172
$672,560,590
$689,204,906
$2,050,043,249
31-Dec51
1-Jan-52
174%
$275,086,690
$344,553,804
$83,422,916
$686,011,801
$701,968,902
$2,091,044,114
31-Dec-52
1-Jan-53
178%
$280,588,424
$351,444,881
$85,091,374
$699,732,037
$716,008,280
$2,132,864,996
31-Dec-53
1-Jan-54
181%
$286,200,193
$358,473,778
$86,793,202
$713,726,678
$730,328,445
$2,175,522,296
31-Dec-54
1-Jan-55
185%
$291,924,196
$365,643,254
$88,529,066
$728,001,212
$744,935,014
$2,219,032,742
31-Dec-55
1-Jan-56
188%
$297,762,680
$90,299,647
$742,561,236
$759,933,715
$1,965,650,716
31-Dec-56
1-Jan-57
192%
$303,717,934
$380,415,241
$92,105,640
$757,412,461
$775,030,389
$1,624,548,490
31-Dec-57
1-Jan-58
196%
$309,792,293
$398,023,546
$93,947,753
.'$796 2(t, 7
$1,563,091,707
31-Dec-58
1-Jan-59
200%
$315,989,139
$395,794,017
$95,926,709
$788,011,924
$906,341,617
MuniCap, Inc.
According to the Parker County Appraisal District and Tarrant County Appraisal District property is assessed as of January 1 annually. During construction, the assessed value represents the portion of the building completed as of January 1. Assumes no assessed value during construction
2Assumes an annual inflation factor of 2.0%.
3See Exhibit C-1.1.
°See Exhibit C-1.2.
5See Exhibit C-1.3.
6See Exhibit C-1.4.
7See Exhibit C-1.5.
EXHIBIT C-2.2
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2030-2034
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Velue Ranch)
Exhibit C-2.2: Projected Assessed Value - All Land Uses - Development Years 2030-2034
Development
2.0%
Total Projected
Year
Assessed
Inflation
2030 Development
2031 Development
2032 Development
2033 Development
2034 Development
Assessed Value
Endin
As Oe
Factor,
Projected Assessed Value'
Projected Assessed Value°
Projected Assessed Values
Projected Assessed Value'
Projected Assessed Valuo
At Buddout
31-ilvetr
3
31-Dec-24
1-Jan-25
102%
$0
$0
$0
$0
$0
$0
31-Dec25
1-Jan-26
104%
$0
$0
$0
$0
$0
$0
31-Dec-26
1-Jan-27
106%
$0
$0
$0
$0
$0
$0
31-Dec-27
1-Jan-28
108%
$0
$0
$0
$0
$0
$0
31-Dec-28
1-Jan-29
110%
$0
$0
$0
$0
$0
$0
31-Dec-29
1-Jan-30
113%
$0
$0
$0
$0
$0
$0
31-Dec-30
1-Jan-31
115%
$463,142,106
$0
$0
$0
$0
$463,142,106
31-Dec-31
1-Jan-32
117%
$472,404,948
5472,404,948
$0
$0
$0
$944,809,895
31-Dec-32
1-Jan-33
120%
$481,853,047
$481,853,047
$481,853,047
$0
$0
$1,445,559,140
31-Dec-33
1-Jan-34
122%
$491,490,109
$491,490,108
$491,490,108
$491,490,109
$0
$1,965,960,430
31-Dec-34
1-Jan-35
124%
$501,319,910
$501,319,910
$501,319,910
$501,319,910
$501,319,910
$2,506,599,548
31-Dec-35
1-Jan-36
127%
$511,346,308
$511,346,308
$511,346,309
$511,346,309
$511,346,308
$2,556,731,539
31-Dec-36
1-Jan-37
129e/
$521,573,234
$521,573,234
$521,573,234
$521,573,234
$521,573,234
$2,607,966,170
31-Deo-37
1-Jan-38
132%
$532,004,699
$532,004,699
$532,004,699
$532,004,699
$532,004,699
$2,660,023,494
31-Dec-38
1-Jan-39
135%
$542,644,793
$542,644,793
$542,644,793
$542,644,793
$542,644,793
$2,713,223,963
31-Dec-39
1-Jan-00
1371/6
$553,497,689
$553,497,689
$553,497,689
$553,497,699
$553,497,689
$2,767,488,443
31-Dec-00
1-Jan-41
140%
$564,567,642
$564,567,642
$564,567,642
$564,567,642
$564,567,642
$2,822,939,212
31-Dec41
1-Jan-42
143%
$575,958,995
$575,858,995
$575,959,995
$575,959,995
$575,858,995
$2,979,294,976
31-Dec-42
1-Jan43
146%
$587,376,175
$587,376,175
$587,376,175
$597,376,175
$597,376,175
$2,936,890,975
31-Dec-43
1-Jan-44
149a/o
$599,123,699
$599,123,699
$599,123,699
$599,123,699
$599,123,699
$2,995,619,493
31-Dec-44
1-Jan45
152%
$611,106,173
$611,106,173
$611,106,173
$611,106,173
$611,106,173
$3,055,530,863
31-Deo-45
1-Jan-46
155%
$623,328,296
$623,328,296
$623,328,296
$623,328,296
$623,328,296
$3,116,641,480
31-Dec-46
1-Jan47
158%
$635,794,862
$635,794,862
$635,794,962
$635,794,862
$635,794,862
$3,178,974,310
31-Dec-47
1-Jan-48
161%
$649,510,759
$648,510,759
$649,510,759
$649,510,759
$648,510,759
$3,242,553,796
31-Dec-48
1-Jan-49
164%
$661,490,974
$661,480,974
$661,480,974
$661,480,974
$661,480,974
$3,307,404,972
31-Dec-49
1-Jan-50
167%
$674,710,594
$674,710,594
$674,710,594
$674,710,594
$674,710,594
$3,373,552,969
31-Dec-50
1-Jan-51
171%
$688,204,806
$688,204,806
$688,204,906
$699,204,806
$698,204,806
$3,441,024,029
31-Dec-51
1-Jan-52
174%
$701,968,902
$701,968,902
$701,968,902
$701,969,902
$701,969,902
$3,509,844,509
31-Dec52
1-Jan-53
178%
$716,008,280
$716,008,280
$716,008,280
$716,009,280
$716,008,290
$3,580,041,399
31-Dec-53
1-Jan-54
181%
$730,328,445
$730,329,445
$730,328,445
$730,329,445
$730,329,445
$3,651,642,227
31-Dec-54
1-Jan-55
185%
$744,935,014
$744,935,014
$744,935,014
$744,935,014
$744,935,014
$3,724,675,072
31-Deo-55
1-Jan-56
188%
$759,833,715
$759,833,715
$759,833,715
$759,833,715
$759,833,715
$3,799,168,573
31-Dec-56
1-Jan-57
192%
$775,030,389
$775,030,389
$775,030,389
$775,030,389
$775,030,389
$3,875,151,945
31-Dec57
1-Jan-58
196%
$790,530,997
$790,530,997
$790,530,997
$790,530,997
$790,530,997
$3,952,654,984
31-Dec-58
1-Jan-59
200%
$806,341,617
$806,341,617
$806,341,617
$806,341,617
$806,341,617
$4,031,708,083
31-Deo-59
1-Jan-60
204%
SA .!_ - ,
$822,468,449
$822,468,449
$822,468,449
$822,468,449
$4,112,342,245
31-Dec-60
1-Jan-61
208%
$838,917,818
$838,9.17,818
$838,917,818
$838,917,819
$839,917,818
$3,355,671,272
31-Dec-61
1-Jart-62
212%
$855,696,174
$855,696,174
w + Ii,4
SAS 696 74
$855,696,174
$2,567,088,523
31-Dec-62
1-Jan-63
216%
$872,810,098
$872,810,098
$972,810,098
587'_,K10.IF18
$1,745,620,196
31-Dec63
1-Jan-64
221%
$890,266,300
$890,266,300
$490,266,300
$$9b1ti6300
SM266,300
$890,266,300
m dC,v,1 .
'According to the Parker County Appraisal District and Tarrant County Appraisal District property is assessed as of January I annually. During construction, the assessed value represents the portion of the building completed as of January 1. Assumes no guessed value during construction
2Assumes an annual m8ation factor of 2.0%.
3See Exhibit C-1 6.
'S. Exhibit C-1.7.
sSm Exhibit C-1.8.
6See Exhibit C-1.9
tSee Exhibit C-1.10.
EXHIBIT C-2.3
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2035-2039
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-2.3: Projected Assessed Value - All Land Uses - Development Years 2035-2039
Development
2.01/s
Total Projected
Year
Assessed
Inflation
2035 Development
2036 Development
2037 Development
2038 Development
2039 Development
Assessed Value
Endin
As Of'
Factor'
Projected Assessed Value'
Projected Assessed Value
Projected Assessed Values
Projected Assessed Values
Projected Assessed Value?
At Buildout
91
1
1004
�
iP
so
�
31-Dec-24
1-Jan-25
102%
so
$0
$0
$0
$0
$0
31-Dec25
1-Jan-26
1041/6
so
SO
so
so
so
so
31-Dec-26
1-Jan-27
106%
so
so
$0
so
$0
$0
31-Dec-27
1-Jan-28
108%
so
so
so
so
so
$0
31-Dec-28
1-Jan-29
I10%
so
so
so
so
so
$0
31-Dec-29
1-Jan-30
113%
$0
$0
so
$0
so
so
31-Dec30
1-Jan-31
115%
so
$0
$0
so
so
$0
31-Dec-31
I-Jan-32
117%
so
so
so
so
so
so
31-Dec-32
I-Jan-33
120%
$0
$0
$0
$0
$0
$0
31-Dec,33
I-Jan-34
122%
so
So
SO
So
SO
so
31-Dec34
I-Jan-35
124%
$0
So
so
So
$0
$0
31-Dec-35
1-Jan-36
1271%
$511,346,308
So
SO
So
$0
$511,346,308
31-Dec-36
I-Jan-37
129%
$521,573,234
$521,573,234
$0
$0
so
$1,043,146,468
31-Dec-37
1-Jan-38
132%
$532,004,699
$532,004,699
$532,004,699
$o
so
$1,596,014,096
31-Dec-38
1-Jan-39
135%
$542,644,793
$542,644,793
$542,644,793
$542,644,793
$0
$2,170,579,171
31-Dec-39
I Jan40
1371/6
$553,497,689
$553.497,689
$553,497,689
$553,497.689
S553,497,689
$2,767,488,443
31-Dec-40
1-Jan41
140%
$564,567,642
$564,567,642
$564,567,642
$564,567,642
$564,567,642
$2,822,838,212
31-Dea41
I.Jan42
143%
$575,859,995
$575,858,995
$575,858,995
$575,858,995
$575,858,995
$2,879,294,976
31-Dec-42
1-Jan43
1461/1
$587,376,175
$587,376,175
$587,376,175
$597,376,175
$587,376,175
$2,936,880,875
31-Dec-43
Ilan-44
1491/6
$599,123,699
$599,123,699
$599,123,699
S599,123,699
$599,123,699
$2,995,618,493
31-Dec-44
1-Jan45
152%
$611,106,173
$611,106,173
$611,106,173
$611,106,173
$611,106,173
$3,055,530,863
31-Dec-45
I Jan46
155%
$623,328,296
$623,328,296
S623,328,296
S623,328,296
S623,328,296
S3,116,641,480
31-Dec46
1-Jan47
158%
$635,794,862
$635,794,862
$635,794,862
$635,794,862
$635,794,862
$3,178,974,310
31-Dec47
1-Jan48
161%
$648,510,759
$648,510,759
$648,510,759
$648,510,759
$648,510,759
$3,242,553,796
31-Dec48
I-Jan49
164%
$661,480,974
$661,480,974
$661,480,974
$661,480,974
S661,480,974
$3,307,404,872
31-Dea49
I-Jan-50
167-4
$674,710,594
$674,710,594
$674,710,S94
$674,710,594
$674,710,594
$3,373,552,969
31-Dec-50
I-Jan-51
171%
$688,204,806
$688,204,806
$688,204,806
$688,204,806
$688,204,806
$3,441,024,029
31-Dec-51
l-Jan-52
174%
$701,968,902
$701,968,902
$701,968,902
$701,968,902
S701,968,902
$3,509,844,509
31-Dec-52
1-Jan-53
178%
$716,008,280
$716,008,280
$716,008,280
$716,008,280
$716,008,280
$3,580,041,399
31-Dec-53
1-Jan-54
191 %
$730,329,445
$730,328,445
$730,329,445
$730,329,445
S730,328,445
$3,651,642,227
31-Dec-54
1-Jan-55
185%
$744,935,014
$744,935,014
$744,935,014
S744,935,014
S744,935,014
$3,724,675,072
31-Dec-55
1-Jan-56
188%
S759,833,715
$759,833,715
$759,833,715
$759,833,715
$759,833,715
$3,799,168,573
31-Dec-56
1-Jan-57
192%
$775,030,389
$775,030,389
S775,030,389
S775,030,389
$775,030,389
$3,875,151,945
31-Dec-57
lJan-58
196%
$790,530,997
$790,530,997
$790,530,997
$790,530,997
$790,530,997
$3,952,654,994
31-Dec-58
1-Jan-59
200%
$806,341,617
$806,341,617
$806,341,617
$806,341,617
$806,341,617
$4,031,708,083
31-Dec-59
IJan-60
204%
$822,468,449
$822,468,449
$822,468,449
$822,468,449
$822,468,449
$4,112,342,245
31-Decfi0
l,lanfi1
208%
$838,917,818
$838,917,818
S838,917,818
$838,917,818
$838,917,818
$4,194,589,090
31-Dec-61
1-Jan-62
2121/6
$855,696,174
$855,696,174
$855,696,174
$855,696,174
$855,696,174
$4,278,480,872
31-Dec-62
1-Jan-63
216%
$872,810,098
$872,810,098
$872,810,098
$872,810,098
$872,810,098
S4,364,050,489
31-Dec63
1-Jan-64
221%
$890,266,300
$890,266,300
$890,266,300
$890,266,300
$890,266,300
$4,451,331,499
31-Dec64
1-Jan-65
225%
$908,071,626
$908,071,626
$908,071,626
$908,071,626
$908,071,626
$4,540,358,129
31-Dec-65
1-Jan-66
230%
$926,233,058
1*
S92b, 96!
$926,233,058
$926,233,058
$3,704,932,233
31-Dec-66
1-Jan-67
2341%
$944,757,719
$944,757,719
$944,757,719
$944,757,719
$2,834,273,158
31-Dec-67
1-Jan-68
2391/
$963,652,874
S963,652,874
S963,652,874
e70
$1,927,305,748
31-Dec-68
1-Jan-69
244%
$982,925,931
$982,925,931
$982,925,931
$982,925,931
$982,925,931
AfuniCap, Inc.
'According to the Parker County Apprrisal Drstna and Tenant County Appraisal District property is assessed m of January I amually During construction, flan asseawd value represents the portion of the building completed as of January I Assures ro assessed value during construction.
'Assu— an amu.l iodation factor of 2.0%.
'San Exhibit C-1.11.
%—E-J.bit C-I.12.
'See Exhibit C-1.13.
"San Exhrbrt C-1 14.
'Sce Exhibit C-1.15.
EXHIBIT C-2.4
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2040-2044
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-2.4: Projected Assessed Value - All Laud Uses - Development Years 2040-2044
Development
2.0%
Total Projected
Year
Assessed
Inflation
2040 Development
2041 Development
2042 Development
2043 Development
2044 Development
Assessed Value
Endin
As Oft
Factor'
Pm'ected Assessed Value3
Projected Assessed Value'
Projected Assessed Values
Projected Assessed Value'
Projected Assessed Value'
At Buildout
#�h1pu
4,1n1tt{'
..
_
31-Dec-24
1-Jan-25
102%
$O
$0
$O
$0
$O
$O
31-Dec-25
1-Jan-26
104%
$O
$0
SO
SO
SO
SO
31-Dec-26
I-Jan-27
106%
SO
$O
SO
$0
SO
SO
31-Dee-27
I-Jan-28
109
SO
SO
$O
SO
SO
SO
31-Dec-28
l-Jan-29
I10%
SO
SO
SO
SO
SO
SO
31-Dec29
I-Jan-30
113%
SO
$O
$0
$O
SO
SO
31-Dec-30
I-Jan-31
115%
SO
SO
SO
$O
SO
SO
31-Dee-31
1-Jan-32
1176k
SO
SO
$O
SO
SO
SO
31-Dec-32
1-Jan-33
120a/s
SO
SO
$O
$O
SO
SO
31-Dec33
1-Jan-34
122%
SO
SO
SO
SO
SO
SO
31-Dec34
I-Jan-35
124%
SO
SO
SO
$O
SO
$O
31-Dec-35
7-Jan-36
127%
SO
So
SO
SO
$0
SO
31-Dec-36
1-Jan-37
129%
$O
SO
SO
SO
SO
$0
31-Dea37
1-Jan-38
132%
$O
SO
$O
$O
SO
SO
31-Dec38
1-Jan-39
135%
SO
SO
SO
$O
SO
$O
Al-Dec-39
1-Jen40
1371/6
SO
SO
SO
SO
SO
SO
31-Dec40
1-Jan-41
140%
$534,830,734
SO
$O
SO
SO
$534,830,734
31-Dec41
I-Jan-42
143%
$545,527,349
$545,527,349
SO
SO
SO
$1,091,054,699
31-Dec42
1-Jan43
146%
$556,437,896
5556,437,896
$311,945,977
$O
SO
$1,424,821,769
31-Deo43
1-Jan-44
1490%
$567,566,654
$567,566,654
$318,184,997
$318,194,997
SO
$1,771,503,101
31-Dec-44
1-Jan-45
152%
$578,917,987
5578,917,987
$324,548,595
$324,548,595
$268,566,088
$2,075,499,252
31-Deo 45
1-Jan-46
155%
$590,496,347
$590,496,347
$331,039,567
5331,039,567
$273,937,410
$2,117,009,237
31-Dm-46
1-Jan-47
158%
$602,306,273
$602,306,273
$337,660,358
$337,660,358
$279,416,158
$2,159,349,421
31-Dec47
I-Jan-48
161%
5614,352,399
$614,352,399
$344,413,565
$344,413,565
$285,004,481
$2,202,536,410
31-Dec-48
1-Jan-49
164%
5626,639,447
$626,639,447
$351,301,837
$351,301,837
$290,704,571
$2,246,587,138
31-Det:49
Wan-50
167%
$639,172,236
$639,172,236
$358,327,873
$358,327,873
$296,518,662
$2,291,518,881
31-1)eo-50
1-Jan-51
171 %
$651,955,681
5651,955,681
$365,494,431
$365,494,431
$30Z449,036
$2,337,349,258
31-Dec-51
1-Jan-52
174%
5664,994,794
$664,994,794
$372,804,319
5372,804,319
$308,498,016
$2,384,096,244
31-Deo-52
1-Jan-53
178%
5678,294,690
5678,294,690
$380,260,406
5380,260,406
$314,667,977
$2,431,778,168
31-Dec53
I-Jan-54
181%
$691,860,594
$691,860,584
$387,865,614
$387,865,614
5320,961,336
$2,480,413,732
31-Dec54
1-Jan-55
185%
$705,697,796
$705,697,796
$395,622,926
$395,622,926
$327,380,563
52,530,022,006
31-Dee-55
1-Jan-56
188%
$719,911,751
$719.811,751
5403,535,385
5403,535,385
$333,928,174
$2,580,622,447
31-Deo-56
l-Jan-57
192%
$734,207,996
5734,207,986
5411,606,092
5411,606,092
$340,606,739
$2,632,234,895
31-Dec-57
I-Jan-58
196%
5748,892,146
$748,892,146
5419,838,214
5419,838,214
5347,418,873
$2,684,879,593
31-Dec-58
1-Jan-59
200%
5763,869,989
$763,869,989
5428,234,978
5428,234,978
$354,367,250
$2,738,577,185
31-Dae-59
1-Jan-60
204%
$779,147,389
$779,147,389
5436,799,678
5436,799,678
5361,454,595
52,793,348,729
31-Dec-60
1-Jan-61
208%
5794,730,337
$794,730,337
5445,535,672
5445,535,672
$368,683,687
$2,849,215,703
31-Dec61
1-Jan-62
212%
$810,624,943
$810,624,943
5454,446,385
5454,446,385
5376,057,361
$2,906,200,018
31-Dec-62
l-Jan-63
216%
5826,837,442
$826,837,442
5463,535,313
5463,535,313
$383,578,508
$2,964,324,018
31-Dec-63
1-Jan64
221%
$843,374,191
$943,374,191
5472,806,019
5472,806,019
$391,250,078
$3,023,610,498
31-Dec-64
I-Jan65
225%
5860,241,675
$860,241,675
5482,262,139
5482,262,139
$399,075,080
$3,084,082,708
31-Dec-65
1-Jan66
230%
$877,446,508
$877,446,508
5491,907,382
5491,907,382
5407,056,581
$3,145,764,362
31-13 o-66
I-Jan-67
234%
5894,995,439
$894,995,439
$501,745,530
$501,745,530
5415,197,713
$3,208,679,650
31-Dee-67
1-Jan-68
239a/s
$912,995,347
$912,895,347
5511,780,440
5511,780,440
5423,501,667
$3,272,853,243
31-Deo-68
l-Jan-69
244%
5931,153,254
$931,153,254
5522,016,049
5522,016,049
$431,971,700
53,338,310,307
31-13eo-69
1-Jan-70
249°/s
(_ i' % r�
$949_,776,319
5532,456,370
$532,456,370
$440,611,134
$3,405,076.514
31-Dec-70
1-Jan-71
254%
..
5968,771,846
Sg �,
$543,105,498
5543,105,498
$449,423,357
52,504,406,198
31-Deo-71
1-Jan-72
259a/a
_
5988,147,283
$989,147,283 �.
3,,p'¢'�, 8.-._,.
5458,411,824
S1,566,347,039
31-Dec-72
I-Jan-73
264%
$1,007,910,228
$1,007,910,228
.��5
5565,046,960
.,_.-.,..S553,967,608_ ___ _
;565,�fdb',4�¢.„ �, �
5467,50,061
$1,032.627,020
31-Dec-73
l-Jan-74
2691/6
51,028,068,433
51,028,066,433
$576,347,999
$576,347,999 y
Sbid,�3.1A62— ., _
, 5476,931,662
AfuniCap, Inc.
'Aamrding to the Puke C',emty Appnial Distant sad T-1. County Appsisal District property is assessed s of Jsnury 1 annually. During construction, the msetueed value represents the portion of the building acanplatod as of 7enury 1. Asswtes no —tared value dung c—tr u tion.
rAasu . -annul inflation Wt. of 2.OYs.
'Sm Exhibit C-1.16.
4See Exhibit C-1 17
'See Exhibit C-1 18
'See Exhthit C-I 19.
'Sea Exhibit C-1.20.
EXHIBIT C-2.5
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2045-2049
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit C-2.5: Projected Assessed Value - All Land Uses - Development Years 2045-2049
Development
2.01/o
Total Pmjected
Year
Assessed
Inflation
2045 Development
2046 Development
2047 Development
2048 Development
2049 Development
Assessed Value
Eno
As Oe
Facmrr
I1ro'ected Assessed Value'
Pro'eeted Assessed Value
Pro'eete Assessed Value°
Pro'ected Assessed Values
I1ro'ected Assessed Value'
At Buildout
1
1 -44
SB
31-Dw24
1-Jan-25
102%
$0
$0
$0
SO
$0
$0
31-Dw25
1-Jan-26
104%
$0
$0
$0
$0
SO
$0
31-Dec-26
Wan-27
106%
$0
$0
$0
$0
$0
$0
31-Dea27
1-Jan-28
108%
$0
$0
SO
$0
SO
$0
31-13e628
l-Jan-29
IIO1/e
$0
$0
$0
SO
$0
SO
31-Dec-29
1-Jan-30
113%
$0
$0
$0
SO
$0
$0
31-Dec-30
1-Jan-31
115%
$0
$0
$0
$0
$0
$0
31-Dec-31
1-Jan-32
117%
$0
SO
$0
$0
$0
so
31-Dec-32
I-Jan-33
120%
$0
$0
$0
$0
$0
$0
31-Deo-33
I-Jan-34
122%
$0
$0
SO
SO
SO
SD
31-13ea34
I-Jan-35
124%
$0
$0
s0
$0
$0
SD
31-13 o-35
I-Jan-36
1271/1
$0
s0
s0
SO
$0
SO
31-Dec-36
I-Jan-37
1291/1
$0
s0
s0
SO
$0
$0
31-13 o-37
1-Jan-38
132%
s0
s0
$0
$0
$0
SO
31-Dec-38
1-Jan-39
135%
$0
s0
s0
$0
$0
$0
3143ro-39
I-J—AO
137%
$0
$0
SO
$0
SO
SO
31-Dec-10
I-Jan-41
140%
s0
s0
SO
$0
$0
$0
31-DecAl
1-Jan-42
143%
s0
$0
$0
$0
$0
so
31-Dec-42
1-Jan-43
1461/6
SO
s0
s0
$0
SO
$0
31-Dec-13
I-Jan-44
1491%
so
SO
$0
so
SO
so
31-Dec-44
1-Jan-45
152%
$0
s0
s0
$0
$0
$0
31-DwA5
I-Jan-46
155%
$273,937,410
SO
s0
s0
%
$273,937,410
31-Dec-16
I-Jan-47
158%
$279,416,158
S279AI6,158
SO
SO
$0
$558.932,316
31-Dee-17
I-Jan48
161%
$285,004,491
$285,004,491
5207,934,602
$0
SO
$777,943,565
31-Dec-18
1-Jan-49
164%
$290,704,571
$290,704,571
S2I2,093,294
5206,150,939
$0
$999,653,376
31-Dec-49
14a 50
167%
$2%,518,662
$296,518,662
$216,335,160
5210,273,958
$194,936,491
$1,214,592,935
31-Dee-50
1-Jan-51
171%
$302,449,036
5302,449,036
$220,661,863
$214,479,437
$198,935,221
$1,238,874,593
31-De 51
1-Jan-52
174%
5308,498,016
$308,498,016
5225,075,101
$219,769,026
S202,811,926
$1,263,652,085
31-Dec-52
I-Jan-53
178%
$314,667,977
$314,667,977
$229,576,603
$223,144,407
$206,868,164
$1,299,925,127
31-Deo53
1-Jun-54
181%
$320,961,336
5320,961,336
$234,169,135
$227,607,295
5211,005,528
$1,314,703,629
31-Dec-54
I-Jan-55
185%
5327,380,563
5327,380,563
$239,951,497
5232,159,441
$215,225,638
$1,340,997,702
31-Dee-55
14tm-56
198%
$333,928,174
$333,929,174
$243,62V27
$236,802,630
$219,530,151
$1,367,817,6%
31-Dec-56
I-Jan-57
192%
$340,606,738
$340,606,739
$249,501,099
$241,539,692
$223,920,754
$1,395,174,009
31-De 57
1-Jan-58
1961/6
$347,418,1173
5347,418,873
$253,471,120
$246,369,456
5228,399,169
$1,423,077,499
31-Dec-58
1-Jan-59
200%
$354,367,250
$354,367,250
S258,540,542
5251,296,845
$232,967,152
$1,451,539,039
31-De 59
1-Jan-60
2041/
$361,454,595
$361,454,595
5263,711,353
$256,322,792
$237,626,495
$1,490,569,820
31-Dec-60
1-Jan-61
208%
5368,683,687
$368,683,697
$269,995,580
$261,449,237
$242,379,025
$1,510,191,216
31-De 61
1-Jan-62
212%
$376,057,361
$376,057,361
S274,365,292
5266,678,222
$247,226,606
$1,540,394.941
31-Dec-62
I-Jan-63
216%
$383,578,508
5383,578,508
$279,952,597
5272,011,787
$252,171,138
S1,571,192,538
31-De 63
1-Jan-64
221%
$391,250,078
$39VSO,07S
5285,449,649
$277,452,022
5257,214,561
$1,602,616,398
31-Dec-64
1-Jan-65
225%
$399,075,090
$399,075,080
$291,158,642
5283,001,063
$262,359,852
$1,634,669,716
31-Dec-65
1-Jtmfi6
23W.
$407,056,591
$407,056,591
$296,981,815
5288,661,084
$267,606,029
SI,667,W.090
31-Dec-66
1-Jan-67
234%
$415,197,713
$415,197,713
5302,921,452
$294,434,306
$272,959,149
$1,700,709,332
31-Dec-67
1-Jan-68
2391/
$423,501,667
$423,501,667
5308,979,881
$300,322,992
$278,417,312
$1,734,723,519
31-Dee-68
I-Jan-69
244%
$431,971,700
$431,971,700
$315,159,479
$306,329,452
$283,995,659
$1,769,417,999
31-Dw69
lJan-70
2491/1
5440,611,134
$440,611,134
5321,462,668
$312,456,041
$289,665,372
$1,904,806,349
31-Dec-70
1-Jan-71
254%
$449,423,357
$449,423,357
$327,991,921
5318,705,161
$295,458,679
$1,940,902,476
31-De 71
14en-72
2591/1
$459,411,924
$459,411,924
$334,449,760
5325,079,265
5301,367,853
$1,877,720j25
31-Dec-72
1-Jan-73
2641/1
$467,580,061
$467,590,061
$341,138,755
S33I,580,850
$307,395,210
$1,915,274,936
31-Deo-73
l-Jun-74
269%
S67 932 62
$416,931,60
5347,961,530
$338,212,467
$313,543,114
$1,953,580,435
31-Dec-74
I-Jan-75
275%
$486,470,295
$354,920,760
$344,976,716
S319,813,976
$1,992,652,043
31-Dec-75
1-Jan-76
2801/6
Sti96,;94,7O1
5362,019,176
5351,876,251
$326,210,256
$1,536,305,383
31-Dec-76
1-Jan-77
296%
$506,123,695
5506,123,695
,t-wolgoo
5358,913,776
$1,060,907,796
31-Dea77
1-Jera78
29I%
islek ti,169
S51GaKtfi9
5376,644,750
r$3.3.�w2c,734,461
yxr�,324'Ist
$705.481,201
31-De 78
I-Jan-79
29T/
5526,57I,092
$526,571,092
5384,177,645
5373,413,892
E,17k q3a
5346,176,933
M iC°p, tic.
'Acaordmg to the Puka CountyAppmW Dined and Tenant County Appm W Unnet rnjrty u. xueuual u of Lnuuy I xnnwlly. Dunne emutrmhon. the uux.d the portion of me building conrpl kd a of Januuy 1. A--o— - uvad .due during conlwctino.
'Auu—mumud ingoaonf torof2.0-/..
'See Exhibit G1.21.
'See Exhibit G1.22.
'See Exhibit GI33.
1See Exhibit C4 24,
'See Exhibit C-1.25.
EXHIBIT C-2.6
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2050-2051
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-2.6: Proiected Assessed Value - All Land Uses - Development Years 2050-2051
Development
2.0%
Total Projected
Year
Assessed
Inflation
2050 Development
2051 Development
Assessed Value
Endin
As O1'
Factor2
Projected Assessed Value3
Projected Assessed Value°
At Buildout
3 ilec73
1�24
100%
$ail
$0
S(}
31-Dec-24
1-Jan-25
102%
$0
$0
$0
31-Dec-25
1-Jan-26
104%
$0
$0
$0
31-Dec-26
1-Jan-27
106%
$0
$0
$0
31-Dec-27
1-Jan-28
108%
$0
$0
$0
31-Dec-28
1-Jan-29
110%
$0
$0
$0
31-Dec-29
1-Jan-30
113%
$0
$0
$0
31-Dec-30
1-Jan-31
115%
$0
$0
$0
31-Dec-31
1-Jan-32
117%
$0
$0
$0
31-Dec-32
1-Jan-33
120%
$0
$0
$0
31-Dec-33
1-Jan-34
122%
$0
$0
$0
31-Dec-34
1-Jan-35
124%
$0
$0
$0
31-Dec-35
1-Jan-36
127%
$0
$0
$0
31-Dec-36
1-Jan-37
129%
$0
$0
$0
31-Dec-37
1-Jan-38
132%
$0
$0
$0
31-Dec-38
1-Jan-39
135%
$0
$0
$0
31-Dec-39
1-Jan-40
137%
$0
$0
$0
31-Dec-40
1-Jan-41
140%
$0
$0
$0
31-Dec-41
1-Jan-42
143%
$0
$0
$0
31-Dec-42
1-Jan-43
146%
$0
$0
$0
31-Dec-43
1-Jan-44
149%
$0
$0
$0
31-Dec-44
1-Jan-45
152%
$0
$0
$0
31-Dec-45
1-Jan-46
155%
$0
$0
$0
31-Dec-46
1-Jan-47
158%
$0
$0
$0
31-Dec47
1-Jan-48
161%
$0
$0
$0
31-Dec-48
1-Jan-49
164%
$297,118
$0
$297,118
31-Dec-49
1-Jan-50
167%
$303,060
$0
$303,060
31-Dec-50
1-Jan-51
171%
$199,144,343
$0
$199,144,343
31-Der-51
1-Jan-52
174%
$203,127,229
$170,318,919
$373,446,149
31-Dec-52
1-Jan-53
178%
$207,189,774
$173,725,298
$380,915,072
31-Dec-53
1-Jan-54
181%
$211,333,569
$177,199,803
$388,533,373
31-Dec-54
1-Jan-55
185%
$115,560,241
$180,743,800
$396,304,040
31-Dec-55
1-Jan-56
188%
$219,871,446
$184,358,676
$404,230,121
31-Dec-56
1-Jan-57
192%
$224,268,875
$188,045,849
$412,314,724
31-Dec-57
1-Jan-58
196%
$228,754,252
$191,806,766
$420,561,018
31-Dec-58
1-Jan-59
200%
$233,329,337
$195,642,901
$428,972,239
31-Dec-59
1-Jan-60
204%
$237,995,924
$199,555,759
$437,551,683
31-Dec-60
1-Jan-61
208%
$242,755,842
$203,546,875
$446,302,717
31-Dec-61
1-Jan-62
212%
$247,610,959
$207,617,812
$455,228,771
31-Dec-62
1-Jan-63
216%
$252,563,178
$211,770,168
$464,333,347
31-Dec-63
1-Jan-64
221%
$257,614,442
$216,005,572
$473,620,014
31-Dec-64
1-Jan-65
225%
$262,766,731
$220,325,683
$483,092,414
31-Dec-65
1-Jan-66
230%
$268,022,065
$224,732,197
$492,754,262
31-Dec-66
1-Jan-67
234%
$273,382,507
$229,226,841
$502,609,347
31-Dec 67
1-Jan-68
239%
$278,850,157
$233,811,378
$512,661,534
31-Dec-68
1-Jan-69
244%
$284,427,160
$238,487,605
$522,914,765
31-Dec-69
1-Jan-70
249%
$290,115,703
$243,257,357
$533,373,060
31-Dec-70
1-Jan-71
254%
$295,918,017
$248,122,504
$544,040,522
31-Dec-71
1-Jan-72
259%
$301,836,378
$253,084,954
$554,921,332
31-Dec-72
1-Jan-73
264%
$307,873,105
$258,146,653
$566,019,759
31-Dec-73
1-Jan-74
269%
$314,030,567
$263,309,587
$577,340,154
31-Dec-74
1-Jan-75
275%
$320,311,179
$268,575,778
$588,886,957
31-Dec-75
1-Jan-76
280%
$326,717,402
$273,947,294
$600,664,696
31-Dec-76
1-Jan-77
286%
$333,251,750
$279,426,240
$612,677,990
31-Dec-77
1-Jan-78
291%
$339,916,785
$285,014,765
$624,931,550
31-Dec-78
1-Jan-79
297%
$346,715,121
$290,715,060
$637,430,181
31-Der-79
t-Jan-80
303%
1 1
$M 529,361
$650,179,784
31-Dec-80
1-Jan-81
309%
$360,722,412
=
$302,459,948
Mnrricap, Inc.
'According to the Parker County Appraisal District and Tarrant County Appraisal District property is assessed as of January 1 annually. During construction,
the assessed value represents the portion of the building completed as of January 1. Assumes no assessed value during construction.
=Assumes an annual inflation factor of 2.0%.
'See Exhibit C-1.26.
'See Exhibit C-1.27.
EXHIBIT C-2.7
PROJECTED TAXABLE VALUE - ALL DEVELOPMENT YEARS
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Velue Ranch)
Exhibit C-2.7: Proiected Assessed Value - All Land Uses - All Development Years
Developmmt
2.0%
Total
Yem
Assessed
Inflation
2024-2029 Development
2030-2034 Development
2035-2039 Devclopmmt
2040.2044 Developtnext
2045-2049 Development
2050-2051 Develop eat
Projected
F,ndin
As Of'
Factor'
Pm'ected Assessed Valut?
Projected Value
Projected Assessed Valu2
Projected Assessed Vald
Projected As Md Velt�
Pm'ected
Assessed V.I.
jpo
31-Dec-24
1-Jm-25
1n244
so
s0
s0
s0
so
s0
s0
31-Dcc-25
1-Jan-26
304%
$164,386,108
s0
s0
s0
s0
s0
S164386,ID8
31-Dec-26
I-Jm-27
106%
$377.690,010
so
SO
s0
so
SO
S377,690,010
31-De 27
1-Jan-28
1089.
$437,(09,630
s0
s0
s0
$D
so
$437,109,630
31-Dec-28
1-Jm-29
1101/
$880,890,266
$0
so
SO
s0
SO
$880,890,266
31.1) o-29
IJmt-30
113%
S1,352,566,959
s0
so
s0
$0
$0
SI,352,S68,959
31-Dec-30
1-Jm-31
115%
S1379.620,338
S463,14Z, 106
so
$o
SO
s0
S1,842.762,444
31-Dee-31
1-Jm-32
117%
S1,407.212,745
$944,8D9,895
s0
s0
so
S0
$2,35Z,V22,640
31-Dec-32
I-Jm-33
120%
$1,435,357,000
S1,445,559,140
s0
s0
s0
so
S2,880,916,140
31-Dot 33
1-Jm-34
122%
S1,464,064,140
S1,965,960,430
SO
s0
$0
SO
$3.430.024.570
31-Dec-34
1-Jan-35
124%
SI,493.345,422
S2.506.599,548
$0
so
s0
s0
S3,999,944,971
31-Dw-35
I-]m-36
127%
$1,523.212,331
$2.556,731.539
$511346,308
s0
$0
$0
$4,591,290,178
31-Dec-36
1-1m-37
129%
$1,553.676,578
SZ,607,666,170
S1,043.146,466
$o
$0
$0
S5,204,689,216
31-Dcc-37
1.7mJ8
132%
S1,584,750,109
SZ,660,023,494
S1,596,014,096
$0
$0
$0
$5.W,787,699
31-Dec-38
1-Jan-39
135%
$1,616.445,111
$Z,713.223,963
$Z,I70,579,171
so
so
so
S6,500,248,246
31-Dec-39
1-IM40
13T/.
S1,649. 74,014
S2,767.488,443
$2,767.488,443
$0
$0
$0
S7,183,750,899
31-Dec40
1-Jm41
1405/6
$1,681.749,494
$2,922.838.212
$2,822.938,212
$534.830,734
$0
$D
$7,962,256,651
31-Da41
1Jm42
143Y.
$1,715,384,494
$2,879,294,976
$2,879394,976
$1,091,054,699
$0
$o
$8.565,029,133
31-Dcc42
I-Jm43
146%
$1,749,692,173
S2,93600,875
S2,936.880,875
$1,424,821,769
$0
$0
S9,048,275,693
31-Dec43
1-Jm-44
149%
$1,794.696,017
$2,995.618,493
$7,995.618,493
$1,771.503,101
$0
$0
$9,547.426,104
31-Dec44
I-Im45
152%
$1,820.379,737
$3.055.530,963
$3,055.530,863
52,075.499,252
$0
$0
S10,D06,940,714
31-Dec45
1-Jm46
155%
$1,856,791332
S3,116,641,480
$3,116,641,490
$2,117.W9,237
$273,937.410
s0
a10,481,016,939
31-Dec-46
1-Jm47
159%
$1,893,923,079
$3.178,974310
$3,178,974,310
$Z159349,421
$558,932316
$0
$10,970,053,436
31-DW41
I-JW48
161%
$1,931.901,540
$3,242.553,796
$3,242.553,196
$Z202,536,410
$777.943.565
$0
$1097.389,106
31-Dec48
1-Jm49
164%
$1,970.437,571
$3.307.404,872
$3,307.404,872
$2,246.587,138
$999.653,376
$297,118
$11,931,794,946
31-DW49
1-IM-50
167%
S2,009,846322
11.373.552,969
53373.552,969
52,291,518,661
$1,2I4,582,935
S303,060
$12,263,357J36
31-Dec-50
I-Jm-51
171%
$Z050,043,249
$3,441,024,029
$3,441,024,029
$Z,337,349,258
$1,238,874,593
$199,144,343
$12,707,459,500
31-Dec-51
1-Im-52
174%
$2,091.044,114
S3,509144,509
$3.509.844,509
S2,384.0%,244
$1,263.652,085
S373,446,149
$13,131.927,609
31-Dot-52
I-Jm-53
17M
SZ, 132.864,996
$3,580.041,399
$3,590.041399
$2,431.778,169
$1,288.925,127
S380,915,072
$13394,566,161
31-Dec-53
1-Im-54
191%
SZ,t75.522,296
$3,651.642,2.27
S3,651.642,227
$'Z480,413,732
51314303,629
S386,533,373
S13,662,457,485
31-Dec-54
I-Jm-55
185%
S2,219,032,742
$3,724,675,072
$3,724,675,072
$2,530,022,006
S1,340,997,702
$396,304,040
$13.935,706,634
3l-Dec35
1-Im-56
l8r/.
$1,965,650,716
$3,799,168,573
S3,799,166,573
$2,590,622.447
$1,367,817,656
$404,230.121
$13,916.658,097
31-Dec-56
I-Jan-57
1921/
$1,624.548.490
$3,875.151.945
$3,975.151,945
$2,632.234,895
$1,395.174.009
$412,314,724
$13,814,576,007
31-Dec-57
i-Jm-58
196%
$1,563,091,707
$3,952,654,994
$3,952.654,994
$2,694.879,593
$1,423,077.499
$420,561,018
$13,996,919,775
31-Dec-58
1-Jm-59
200%
$806,341,617
$4,031,708,083
$4,031,708,083
$2,738,577,185
$1,451,539,039
$428,972,239
$13,488,946,246
31-Dec-59
1-Jm60
204%
s0
$4,112342,245
S4,112,342,245
S2,793.348,729
$1.480,569,820
$437,551,693
S12,936,154,722
31-Dec60
1-Jm61
2085/6
$0
$3,355.671.272
S4,194.589,090
$2,849.215,703
$1,510.181,216
$446.302,717
$12355.959,999
31-OM61
i-IM62
212%
so
S2,567.M8,523
$4,278.480,872
$2,906,200,018
$1,540394,841
$455.228.771
$11,747383,024
31-Ne62
1-3m63
216%
$0
$1,745.620,196
$4,364.050,499
$2,964324,018
$1,571.192,538
$464,333347
$11,109,520,587
31-Der.63
1-Jm64
221%
$0
$9%,266300
$4,451,331.499
$3,023,610,499
$1,602,616,388
$473,620,014
$10.441,444,699
3l-Da64
I-Jm65
225%
$0
s0
$4,540.358,129
S3,084.082,708
$1,634.668,716
$493.092,414
$9,742.201,967
31-DW65
J-Jm66
230%
s0
$0
$3,704.932,233
S3,145.764,362
$1,667362,090
$492,754.262
s9.010,B12,948
31-Nt66
1-Jan67
234%
$0
s0
$2,834273,158
$3,208,679,650
$1,700.709,332
$502,609347
$8,246,271,488
31-Dee67
1-34.68
239%
$0
$0
$1,927305,748
$3,272,853,243
$1,734,723,519
$512,661,534
$7,447,S44,044
31-Dec-68
I-Jm69
244%
$0
$0
$982.925.931
$3,338310,307
$1,769,417,999
S522,914,765
S6,613.568,993
31-Dec69
1-Jan-70
249-A
s0
$0
s0
S3,405.076,514
$1,8N.806349
$533,373,060
$5,743.255,923
31-Dec-70
1-Im-71
234%
$0
$0
s0
$2,504.406,199
$1.840.902,476
$544,040,522
$4.889.349.196
31-Dec-71
14 -72
259%
$0
so
so
$1,566,347,039
S1,Fn,7W,525
$554,92032
S3,996,988,897
31-Dec-72
1-Im-73
264%
so
s0
$0
$1,032,627,020
$1,915,274,936
$566,019,759
$3,513.921,715
31-1) o-73
1-3m-74
269%
$0
$0
SD
$476.931,662
$1,953.5M.435
$577340,154
S307,852,250
31-Dec-74
J-Jm-75
275%
s0
s0
$0
$0
$1,992.652.043
$588.886,957
$2,581,539,000
31-Dec-75
1-3m-76
280%
$0
s0
$0
$o
$1,536,305383
$600,664,696
$2.136,970,079
31-De 76
1-Jm-77
28616
SO
$0
$0
$0
$1,060,907,796
$612,677,990
$1,673,585,786
31-Dec-77
1-IM-78
291%
so
$0
s0
s0
$703.481,201
$624,931,550
$1330,4I2,751
31-Dec-78
I-IM-79
297%
$0
$0
SO
s0
$346,176,933
$637.430,181
S983,607,114
31-N.-79
1-Im60
303%
SO
$0
SD
$0
$0
S650,178,764
$650,178,794
31-Dec-80
14 -81
309%
s0
s0
so
so
$0
$302,459,948
$302,459,948
MurlCap, Aa. hap,lli'mp.A-,pwnt—tIh,1A=AFF?F-1:1&—Fort W,-67 sxk Rmrk?IltT11'rg'rcaa.NF/naUry a4 F-wh 7M PevJe—Na 7.IdjEW/bltC-2.7
4Oct-23
'Anomding to tle Pinta Cowry Apptud Dlatdn and Tattant Covey Appraisal DiNtct prgany is tusasd as of1mumy 1 emvully. Dioit�g mnNwtian, tlic toead valve teprctenb We portion of the builditg eompktrd ee of Iwury 1 Auutoo ro.. d vdw during eotumeaen
'Aee,mee.n a,a,nei innaenn t:eto<nr2 a.
'see Exhibit ax.l.
'Sm Exhibit G21.
'See Exhibit G2.3
t—Exhibit G24.
'See Exhibit C-2.5.
ism Exhibit G2.6.
EXHIBIT D-1.1
PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL REAL
PROPERTY TAXES AVAILABLE FOR TIRZ OBLIGATIONS
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit D-1.1: Projected Incremental Assessed Value & Incremental Real Property Taxes Available for TIRZ Obli tga ions
Development
City of
Fort Worth Real Total Percent Total Available
Year
Assessed
Inflation
Total Projected
Estimated
Property Tax Rate
lncremental
Available for
Incremental
Ending
As of
Factor[
Assessed Value'
Base Value'
Incremental Value
(Per $100 A.V.)
Tax Revenues TIRZ Orations' Tax Rev®tres
314ACA 3
1-hu-24
MM
so
(55,256,33i)
so
SO.672500
$D
0-00%
so
31-Dec-24
1-Jan-25
102%
$0
($5,256,331)
SO
S0.672500
$0
65.00%
$0
31-Dec25
1-Jan-26
104%
$164,386,108
($5,256,331)
$159,129,777
$0.672500
$1,070,148
65.00%
$695,596
31-Dec-26
1-Jan-27
106%
S377,690,010
(S5,256,331)
$372,433,679
$0.672500
S2,504,616
65.00%
$1,628,001
31-Dec27
1-Jan-28
108%
S437,109,630
($5,256,331)
S431,853,299
$0.672500
$2,904,213
65.00%
S1,887,739
31-Dec28
1-Jan-29
110%
$880,890,266
(S5,256,331)
S875,633,935
S0.672500
$5,888,638
65.00%
$3,827,615
31-Dec29
1-Jan-30
113%
$1,352,568,959
($5,256,331)
$1,347,312,629
$0.672500
S9,060,677
65.0016
S5,889,440
31-Dec30
1-Jan-31
115%
S1,842,762,444
($5,256,331)
$1,837,506,113
$0.672500
S12,357,229
65.00%
S8,032,199
31-Dec-31
Wan-32
117%
S2,352,022,640
(S5,256,331)
$2,346,766,309
S0.672500
$15,782,003
65.00%
S10,258,302
31-Dec32
1-Jan-33
120%
$2,990,916,140
($5,256,331)
$2,875,659,809
$0.672500
S19,338,812
65.00%
S12,570,228
31-Dec 33
Wan-34
122%
$3,430,024,570
($5,256,331)
$3,424,768,239
$0.672500
$23,031,566
65.00%
$14,970,518
31-Dec-34
1-Jan-35
124%
$3,999,944,971
($5,256,331)
$3,994,688,640
$0.672500
$26,864,281
65.00%
$17,461,783
31-Dee-35
1-Jan-36
127%
S4,591,290,178
(S5,256,331)
S4,586,033,847
$0.672500
S30,841,078
65.00%
$20,046,700
31-Dec36
1-Jan-37
129%
$5,204,689,216
($5,256,331)
$5,199,432,885
$0.672500
$34,966,186
65.00%
S22,728,021
31-Dec-37
1-Jan-38
132%
$5,940,787,699
($5,256,331)
$5,835,531,368
$0.672500
$39,243,948
65.00%
$25,508,566
31-Dec38
1-Jan-39
135%
S6,500,248,246
(S5,256,331)
$6,494,991,915
$0.672500
S43,678,821
65.00%
$28,391,233
31-Dec-39
1-Jand0
137%
$7,183,750,899
($5,256,331)
$7,178,494,568
$0.672500
S48,275,376
65.00%
$31,378,994
31-Dec40
1-Jan4I
140%
$7,862,256,651
($5,256,331)
$7,857,000,320
$0.672500
$52,838,327
65.00%
S34,344,913
31-Dec-41
1-Jan-42
143%
$8,565,029,133
($5,256,331)
S8,559,772,802
S0.672500
$57,564,472
65.00%
$37,416,907
31-Dec42
1-Jan-43
146%
$9,048,275,693
($5,256,331)
$9,043,019,362
S0.672500
$60,814,305
65.00%
S39,529,298
31-Dec43
1-Jan-44
149%
$9,547,426,104
($5,296,331)
$9,542,169,773
$0.672500
$64,171,092
65.00%
$41,711,210
31-Dec- 4
1-Jan-45
152%
$10,006,940,714
(S5,256,331)
$10,001,684,383
$0.672500
$67,261,327
65.00%
S43,719,863
31-Dec-45
1-Jan46
155%
S10,481,016,939
(S5,256,331)
$10,475,760,608
$0.672500
$70,449,490
65.00%
S45,792,169
31-Dec46
1-Jan47
158%
$10,970,053,436
($5,256,331)
$10,964,797,105
$0.672500
$73,738,261
65.00%
S47,929,869
31 Dec-47
1-Jan-48
161%
$11,397,389,106
($5,256,331)
$11,392,132,775
$0.672500
$76,612,093
65.00%
S49,797,860
31-Dec-48
1-Jan49
164%
$11,831,784,946
($5,256,331)
$11,826,528,615
$0.672500
$79,533,405
65.00%
$51,696,713
31-Dec49
Ware-50
167%
$12,263,357,136
($5,256,331)
$12,258,100,805
$0.672500
$82,435,728
65.00%
$53,583,223
31-Dec50
1-Jan-51
171%
$12,707,459,500
($5,256,331)
$12,702,203,169
$0.672500
$85,422,316
65.00%
$55,524,506
31-Dec51
1-Jan-52
174%
S13,131,927,609
($5,256,331)
$13,126,671,278
$0.672500
$88,276,864
65.00%
$57,379,962
31-Dec-52
1-Jan-53
178%
S13,394,566,161
($5,256,331)
$13,389,309,830
$0.672500
$90,043,109
65.00%
$58,528,021
31-Dec-53
1-Jan-54
181%
$13,662,457,485
($5,256,331)
$13,657,201,154
$0.672500
$91,844,678
65.00%
$59,699,041
31-Dec-54
1-Jan-55
185%
$13,935,706,634
($5,256,331)
$13,930,450,303
$0.672500
$93,682,278
65.00%
$60,893,481
31-Dec55
1-Jan-56
188%
$13,916,658,087
($5,149,701)
$13,911,508,386
S0.672500
$93,554,894
65.00%
$60,810,681
31-Dec-56
1-Jan-57
192%
$13,814,576,007
(S4,970,875)
$13,809,605,133
$0.672500
$92,869,595
65.00%
$60,365,236
31-Dec57
1-Jan-58
196%
$13,996,919,775
(S4,706,316)
$13,992,213,459
$0.672500
$94,097,636
65.00%
$61,163,463
31-Dec58
1-Jan-59
200%
$13,488,846,246
(S4,435,733)
$13,484,410,513
$0.672500
$90,682,661
65.00%
$58,943,729
31-Dec59
1-Janfi0
204%
$12,936,154,722
(S4,160,331)
$12,931,994,391
$0.672500
$86,967,662
65.00%
$56,528,980
31-Dec60
1-Jan-61
208%
$12,355,959,999
($3,884,929)
S12,352,075,070
$0.672500
$83,067,705
65.00%
$53,994,008
31-Dec61
1-Jan-62
212%
$11,747,383,024
($3,609,527)
$11,743,773,498
$0.672500
$78,976,877
65.00%
$51,334,970
31-Dec62
1-Jan-63
216%
$11,109,520,587
($3,334,124)
S11,106,186,463
$0.672500
$74,689,104
65.00%
$48,547,918
31-Dec-63
1-Jan-64
221%
$10,441,444,699
($3,058,722)
$10,438,385,977
$0.672500
$70,198,146
65.00%
S45,628,795
31-Dec64
Wan-65
225%
$9,742,201,967
($2,783,320)
$9,739,418,647
$0.672500
$65,497,590
65.00%
S42,573,434
31-Dec-65
1-Jan-66
230%
$9,010,812,948
(S2,507,918)
$9,008,305,031
$0.672500
$60,580,851
65.00%
$39,377,553
31-Dec-66
1-Jan-67
234%
$8,246,271,488
($2,232,515)
$8,244,038,972
$0.672500
$55,441,162
65.00%
$36,036,755
31-Dec67
1-Jan-68
239%
S7,447,544,044
($1,957,113)
$7,445,586,930
S0.672500
$50,071,572
65.00%
$32,546,522
31-Dec68
1-Jan-69
244%
$6,613,568,993
(S1,681,711)
$6,611,887,282
$0.672500
S44,464,942
65.00%
S28,902,212
31-Dec-69
1-Jan-70
249%
$5,743,255,923
(S1,406,309)
$5,741,949,614
$0.672500
$38,613,939
65.000%
$25,099,060
31-Dec-70
1-Jan-71
254%
$4,889,349,196
($1,169,703)
S4,888,179,493
$0.672500
$32,873,007
65.00%
$21,367,455
31-Dec-71
Waa-72
259%
$3,998,988,897
($933,097)
$3,998,055,800
$0.672500
$26,886,925
65.00%
$17,476,501
31-Dec72
Wari-73
264%
$3,513,921,715
($806,510)
S3,513,115,205
$0.672500
$23,625,700
65.00%
$15,356,705
31-Dec73
Waa-74
269%
S3,007,852,250
($679,923)
$3,007,172,327
$0.672500
$20,223,234
65.00%
$13,145,102
31-Dec-74
1-Jan-75
275%
$2,581,539,000
($578,408)
$2,580,960,592
$0.672500
$17,356,960
65.00%
$11,282,024
31-Dec-75
1-Jan-76
280%
$2,136,970,079
(S476,893)
$2,136,493,186
$0.672500
$14,367,917
65.00%
S9,339,146
31-Dec-76
1-Jan-77
286%
$1,673,585,786
($375,378)
$1,673,210,408
$0.672500
$11,252,340
65.00%
$7,314,021
31-Dec-77
1-Jan-78
291%
$1,330,412,751
(S285,911)
$1,330,126,840
S0.672500
$8,945,103
65.00%
$5,814,317
31-Dec-78
1-Jan-79
297%
S983,607,114
($202,469)
$983,404,645
$0.672500
$6,613,396
65.00%
S4,298,708
31-Dec-79
Wan-80
303%
$650,178,794
($123,847)
S650,054,938
$0.672500
S4,371,619
65.000%
$2,941,553
31-Dec-80
1-Jan-81
309%
$302,459,948
(S45,224)
$302,414,724
$0.672500
$2,033,739
65.00%
S1,321,930
Total
$2,699,919,614
$1,754,232,749
MnniCap, Inc.
hops:11munimp.shorepointcomlsites/ALLSTAFFITEXMtems/Fort Worih/Veale Raxh177R7/Projecnons1Fna11[Veale
Ranch TIRZ Prejecnon No. 7.1 x1sxJEW1BIT D-!.I
IOct-13
'Assumes an annual inflation factor of 2.0%.
'See Exhibit C-2.7.
'See Exhibit H. The
TIRZ property in the ED of the City, if any, will not generate city taxes until annexed into the City.
'Represents the City of Fort Worth
real property tax rate for tax year 2023. Source: Tarrant County
Tax Assessor -Collector.
'Assumes 65%the incremental tax revenues arc available for the repayment of TIRZ obligations.
EXHIBIT D-1.2
PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL REAL
PROPERTY TAXES AVAILABLE FOR THE CITY
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit D-1 2• Projected Jncremental Assessed Value & Incremental Real Property Taxes Available for the City
Development
City of
Fort Worth Real Total Percent Total Available
Year
Assessed
Inflation
Total Projected
Estimated
Property Tax Rate
Incremental
Available for
Incremental
Endin
As of
Factor'
Assessed Value'
Base Value'
Incremental Value
er $100 A.V. °
Tax Revenues
to the Citv5
Tax Revenues
3i 3
t4W24
low
SO
($5,256,331)
$0
Mf7250O
so
3Sw%
$0
31-Dec-24
I-Jan-25
102%
$0
(55,256,331)
SO
50.672500
SO
35.00%
$0
31-Dec25
1-Jan-26
104%
$164,386,108
($5,256,331)
$159,129,777
$0,672500
$1,070,148
35.00%
$374,552
31-Dec-26
1-Jan-27
106%
$377,690,010
($5,256,331)
$372,433,679
$0.672500
$2,504,616
35.00%
$876,616
31-Dec-27
1-Jan-28
108%
$437,109,630
($5,256,331)
5431,853,299
$0.672500
52,904,213
35.00%
51,016,475
31-Dec-28
1-Jan-29
110%
$880,890,266
($5,256,331)
$875,633,935
$0.672500
55,888,638
35.00%
$2,061,023
31-Dec29
1-Jan-30
113%
$1,352,568,959
($5,256,331)
$1,347,312,628
50.672500
$9,060,677
35.00%
$3,171,237
31-Dec30
1-Jan-31
115%
$1,842,762,444
($5,256,331)
$1,837,506,113
$0.672500
$12,357,229
35.00%
$4,325,030
31-Dec31
1-Jan-32
117%
$2,352,022,640
($5,256,331)
$2,346,766,309
$0.672500
$15,782,003
35.00%
$5,523,701
31-Dec-32
1-Jan-33
120%
$2,880,91.6,140
($5,256,331)
$2,875,659,809
$0.672500
$19,338,812
35.00%
$6,768,584
31-Dec 33
1-Jan-34
122%
$3,430,024,570
($5,256,331)
$3,424,768,239
$0,672500
$23,031,566
35.00%
58,061,048
31-Dec-34
1-Jan-35
124%
$3,999,944,971
($5,256,331)
$3,994,688,640
$0.672500
$26,864,281
35.00%
$9,402,498
31-Dec-35
1-Jan-36
127%
$4,591,290,178
($5,256,331)
$4,586,033,847
$0.672500
$30,841,078
35.00%
$10,794,377
31-Dec36
1-Jan-37
129%
$5,204,689,216
($5,256,331)
$5,199,432,885
$0.672500
$34,966,186
35.00%
$12,238,165
31-Dec-37
1Jan-38
132%
$5,840,787,699
($5,256,331)
$5,835,531,368
$0.672500
$39,243,948
35.00%
$13,735,382
31-Dec-38
1Jan-39
135%
$6,500,248,246
($5,256,331)
$6,494,991,915
$0.672500
$43,678,821
35A0%
$15,287,587
31-Dec-39
1-Jan-40
137%
$7,183,750,899
($5,256,331)
$7,178,494,568
$0.672500
$48,275,376
35.00%
$16,896,382
31-Dec-40
1-Jan-41
140%
$7,862,256,651
($5,256,331)
$7,857,000,320
$0.672500
$52,838,327
35.00%
$18,493,415
31-Dec-41
1-Jan-42
143%
58,565,029,133
($5,256,331)
$8,559,772,802
$0.672500
$57,564,472
35.00%
$20,147,565
31-Dec-42
1Jan-43
146%
$9,049,275,693
(55,256,331)
59,O43,019,362
$0.672500
$60,814,305
35.00%
$21,285,007
31-Dec-43
I Jan-44
149%
$9,547,426,104
($5,256,331)
$9,542,169,773
$0.672500
564,171,092
35.00%
$22,459,882
31-Dec-44
1-Jan-45
152%
$10,006,940,714
($5,256,331)
$10,001,684,383
$0.672500
$67,261,327
35.00%
$23,541,465
31-Dec-45
1-Jan-46
155%
$10,481,016,939
(55,256,331)
$10,475,760,608
$0.672500
$70,449,490
35.00%
$24,657,322
31-Dec46
1-Jan-47
158%
$10,970,053,436
($5,256,331)
$1.0,964,797,105
$0.672500
$73,738,261
35.00%
$25,808,391
31-Dec-47
1-Jan-48
161%
$11,397,389,106
($5,256,331)
$11,392,132,775
$0.672500
$76,612,093
35.00%
$26,814,233
31-Dec-48
1-Jan-49
164%
$11,831,784,946
($5,256,331)
$11,826,528,615
$0.672500
$79,533,405
35.00%
$27,836,692
31-DecA9
1-Jan-50
167%
$12,263,357,136
($5,256,331)
$12,258,100,805
$0.672500
$82,435,728
35.00%
$28,852,505
31-Dec-50
1-Jan-51
171%
$12,707,459,500
(55,256,331)
$12,702,203,169
$0.672500
$85,422,316
35.00%
$29,897,811
31-Dec51
1-Jan-52
174%
$13,131,927,609
($5,256,331)
$13,126,671,278
50.672500
$88,276,864
35.00%
$30,896,903
31-Dec-52
1-Jan-53
178%
$13,394,566,161
($5,256,331)
$13,389,309,830
$0.672500
$90,043,109
35.00%
$31,515,088
31-Dec.53
1-Jan-54
181%
$13,662,457,485
(55,256,331)
$13,657,201,154
$0.672500
$91,944,679
35,00%
$32,145,637
31-Dec-54
1-Jan-55
185%
$13,935,706,634
($5,256,331)
$13,930,450,303
$0.672500
$93,682,278
35.00%
$32,788,797
31-Dec55
1-Jan-56
188%
$13,916,658,087
(55,149,7O1)
$13,911,508,386
50.672500
$93,554,894
35.00%
$32,744,213
31-Dec56
1-Jan-57
192%
$13,814,576,007
($4,970,875)
$13,809,605,133
$0.672500
$92,869,595
35.00%
$32,504,358
31-Dec-57
1-Jan-58
196%
$13,996,919,775
(54,706,316)
$13,992,213,459
$0.672500
$94,097,636
35.00%
$32,934,172
31-Dec-58
1-Jan-59
200%
$13,488,846,246
($4,435,733)
$13,484,410,513
$0.672500
$90,682,661
35.00%
$31,738,931
31-Dec59
1-JanS0
204%
$12,936,154,722
($4,160,331)
$12,931,994,391
$0.672500
$86,967,662
35.00%
$30,438,682
31-Dec-60
1-JanS1
208%
$12,355,959,999
($3,884,929)
$12,352,075,070
$0.672500
$83,067,705
35.00%
$29,073,697
31-Dec-61
1-Jan-62
212%
$11,747,383,024
($3,609,527)
$11,743,773,498
$0.672500
$78,976,877
35.00%
$27,641,907
31-Dec-62
1-Jan-63
216%
$11,109,520,587
($3,334,124)
$11,106,186,463
$0.672500
$74,689,104
35.00%
$26,141,186
31-Dec63
1-Jan-64
221%
$10,441,444,699
($3,058,722)
$10,438,385,977
$0.672500
$70,198,146
35.00%
$24,569,351
3I-Dec-64
1-JanS5
225%
$9,742,201,967
(52,783,320)
59,739,418,647
50.67250O
$65,497,590
35.00%
$22,924,157
31-Dec-65
1-Jan-66
230%
$9,010,812,948
(52,507,918)
$9,008,305,031
$0.672500
$60,580,851
35.00%
$21,203,298
31-Dec-66
1-Jan-67
234%
$8,246,271,488
($2,232,515)
$8,244,038,972
$0.672500
$55,441,162
35.00%
$19,404,407
31-Dec-67
1-Jan-68
239%
$7,447,544,044
($1,957,113)
$7,445,586,930
$0.672500
$50,071,572
35.00%
$17,525,050
31-Dec-68
1-Jan-69
2441%
$6,613,568,993
($1,681,711)
$6,611,887,282
$0.672500
544,464,942
35.00%
$15,562,730
31-Dec 69
1-Jan-70
249%
$5,743,255,923
($1,406,309)
$5,741,849,614
$0.672500
$38,613,939
35.00%
$13,514,879
31-Dec-70
1-Jan-71
254%
$4,889,349,196
($1,169,703)
54,888,179,493
$0.672500
$32,873,007
35.00%
$11,505,552
31-Dec71
1-Jan-72
259%
$3,998,988,897
($933,097)
$3,998,055,800
$0.672500
$26,886,925
35.00%
$9,410,424
31-Dec-72
1-Jen-73
264%
$3,513,921,715
($806,510)
$3,513,115,205
$0.672500
$23,625,700
35.00%
$8,268,995
31-Dec73
I-Jan-74
269%
$3,007,852,250
(5679,923)
$3,007,172,327
$0.672500
$20,223,234
35.00%
$7,078,132
31-Dec-74
1-Jan-75
275%
$2,581,539,000
($578,408)
$2,580,960,592
$0.672500
$17,356,960
35.00%
$6,074,936
31-Dec-75
1-Jan-76
280%
$2,136,970,079
(5476,893)
52,136,493,186
50.672500
$14,367,917
35.00%
$5,028,771
31-Dec76
1-Jan-77
286%
$1,673,585,786
($375,378)
$1,673,210,408
$0.672500
$11,252,340
35.00%
$3,938,319
31-Dec-77
1-Jan-78
291%
$1,330,412,751
($285,911)
$1,330,126,840
$0.672500
58,945,103
35.00%
53,130,786
31-Dec78
1-Jan-79
297%
$983,607,114
($202,469)
$983,404,645
$0.672500
$6,613,396
35.00%
$2,314,689
31-Dec-79
1-Jan-80
303%
$650,179,784
($123,847)
5650,054,938
$0.672500
54,371,619
35.00%
$1,530,067
31-Dec-80
1-Jan-81
309%
$302,459,948
(545,224)
$302,414,724
$0.672500
$2,033,739
35.00%
$711,809
Total
$2,698,819,614
$944,586,865
MamCap, L+c
https:llm zmp.sharepoint.wm/sites/ALLSTAFF/TFXAS/texas/Fort WorthlVeale Ranch177RZ/PmjectlonsiTimU[['eale Ranch TIRZ Projection No. 7.2.x1sxJEWIBITD-1. ZA
4-Oct-23
'Assumes an amtual inflation factor of 2.0%.
'See Exhibit C-2.7.
'See Exhibit H. The
TIRZ property in the ED of the City, if airy, will rot generate city taxes until
annexed into the City.
¢Represents the City of Fort Worth
real property tax rate for tax year 2023. Source: Tarrant County Tax Assessor -Collector.
Assumes 35 % the incremental tax revenues are available for return to the City.
EXHIBIT D-1.3
PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL REAL
PROPERTY TAXES AVAILABLE FOR THE CITY AFTER RELEASE FROM THE
TIRZ
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit D-1.3: Proiected Incremental Real Property Taxes Available for the City after Release from the TIRZ
Development
Year Assessed Inflation Total Projected
City of
Fort Worth Real Total Percent Total Available
Estimated Property Tax Rate Incremental Available for Incremental
E.4jag
As of
Factor
Assessed Value'
Base Value3
Incremental Value
(Per $100 A.V.�
Tax Revenues
C7 5
Tax Revenues'
314)*23 _
1dAIM-14
1w%
30
(S5,2S6,331)
So
1o.59`2S0o
$0
100.W%
31-Dec-24
1-Jan-25
102%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-25
1-Jan-26
104%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-26
1-Jan-27
106%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-27
1-Jan-28
108%
$0
($5,256,331)
$0
S0.672500
$0
100.00%
$0
31-Dec-28
1-Jan-29
110%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-29
1-Jan-30
113%
$0
($5,256,331)
$0
$0,672500
$0
100.00%
$0
31-Dec-30
1-Jan-31
115%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-31
1-Jan-32
117%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-32
1-Jan-33
120%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-33
1-Jan-34
122%
$0
(S5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-34
1-Jan-35
124%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-35
1-Jan-36
127%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-36
1-Jan-37
129%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-37
1-Jan-38
132%
$0
($5,256,331)
$0
$0.672500
$0
100.00a/e
$0
31-Dec-38
1-Jan-39
135%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-39
1-Jan-40
137%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-40
1-Jan-41
140%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-41
1-Jan-42
143%
$0
(S5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-42
1-Jan-43
146%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-43
1-Jan-44
149%
$0
(S5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec- 4
1-Jan-45
152%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-45
1-Jan-46
155%
$0
($5,256,331)
$0
$0.672500
SO
100.00%
$0
31-Dec-46
1-Jan-47
158%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec47
1-Jan-48
161%
$0
($5,256,331)
$0
S0.672500
$0
100.00%
$0
31-Dec-48
1-Jan-49
164%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
SO
31-De"9
1-Jan-50
167%
$0
($5,256,331)
SO
$0.672500
$0
100.00%
SO
31-Dec-50
1-Jan-51
171%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-51
1-Jan-52
174%
$0
($5,256,331)
SO
$0.672500
$0
100.00%
SO
31-Dec-52
1-Jan-53
178%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-53
1-Jan-54
181%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-54
1-Jan-55
185%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-55
1-Jan-56
188%
$297,762,680
(S5,149,701)
$292,612,980
$0.672500
$1,967,822
100.00%
$1,967,822
31-Dec-56
1-Jan-57
192%
$684,133,175
(S4,970,875)
S679,162,300
$0.672500
S4,567,366
100.00%
$4,567,366
31-Dec-57
1-Jan-58
196%
$791,763,591
($4,706,316)
$787,057,275
S0.672500
$5,292,960
100.00%
$5,292,960
31-Dec-58
1-Jan-59
200%
$1,595,610,787
(S4,435,733)
$1,591,175,054
$0.672500
$10,700,652
100.00%
$10,700,652
31-Dec-59
1-Jan-60
204%
$2,449,991,452
($4,160,331)
$2,445,831,121
$0.672500
$16,448,214
100.00%
$16,448,214
31-Dec-60
1-Jan-61
208%
$3,337,909,099
($3,884,929)
$3,334,024,170
$0.672500
$22,421,313
100.00%
$22,421,313
31-Dec-61
1-Jan-62
212%
S4,260,363,455
($3,609,527)
S4,256,753,929
$0.672500
$28,626,670
100.00%
$28,626,670
31-Dec-62
1-Jan-63
216%
$5,218,380,822
($3,334,124)
$5,215,046,698
$0.672500
$35,071,189
100.00%
$35,071,189
31-Dec-63
1-Jan-64
221%
$6,213,014,738
($3,058,722)
$6,209,956,016
$0.672500
$41,761,954
100.00%
S41,761,954
31-Dec-64
1-Jan-65
225%
$7,245,346,659
($2,783,320)
$7,242,563,339
$0.672500
$48,706,238
100.00%
$48,706,238
31-Dec-65
1-Jan-66
230%
S8,316,486,650
(S2,507,918)
$8,313,978,733
$0.672500
$55,911,507
100.00%
$55,911,507
31-Dec-66
1-Jan-67
234%
$9,427,574,103
($2,232,515)
$9,425,341,588
$0.672500
$63,385,422
100.00%
$63,385,422
31-Dec-67
1-Jan-68
239%
$10,579,778,459
(S1,957,113)
$10,577,821,346
$0.672500
$71,I35,949
100.00%
$71,135,849
31-Dec-68
1-Jan-69
244%
$11,774,299,959
($1,681,711)
$11,772,618,248
$0.672500
$79,170,858
100.00%
$79,170,858
31-Dec-69
1-Jan-70
249%
$13,012,370,408
($1,406,309)
$13,010,964,100
$0.672500
$87,498,734
100.00%
$87,498,734
31-Dec-70
1-Jan-71
254%
$14,241,389,662
($1,169,703)
$14,240,219,959
$0.672500
$95,765,479
100.00%
$95,765,479
31-Dec-71
1-Jan-72
259%
$15,5I4,364,738
(S933,097)
$15,513,431,641
$0.672500
$104,327,828
100.00a/u
$104,327,828
31-Dec-72
1-Jan-73
264%
$16,389,698,993
($806,510)
$16,388,892,483
$0.672500
$110,215,302
100.00%
$110,215,302
31-Dec-73
1-Jan-74
269%
$17,293,940,872
($679,923)
$17,293,160,948
$0.672500
$116,296,507
100.00%
$116,296,507
31-Dec-74
1-Jan-75
275%
$18,126,187,984
($578,408)
$18,125,609,576
$0.672500
$121,894,724
100.00%
$121,894,724
31-Dec-75
1-Jan-76
280%
$18,984,911,445
($476,893)
$18,984,434,552
$0.672500
$127,670,322
100.00%
$127,670,322
31-Dec-76
1-Jan-77
286%
$19,870,733,369
($375,378)
$19,870,357,991
$0.672500
$133,628,157
100.00%
$133,628,157
31-Dec-77
1-Jan-78
291%
$20,644,792,786
(S285,911)
$20,644,506,875
$0.672500
$138,834,309
100.00%
$138,834,309
31-Dec-78
1-Jan-79
297%
$21,431,102,534
($202,469)
$21,430,900,065
$0.672500
$144,122,803
100.00%
$144,122,803
31-Dec-79
1-Jan-80
303%
$22,212,825,057
($123,847)
$22,212,701,211
$0.672500
$149,380,416
100.00%
$I49,380,416
31-Dec-80
1-Jan-81
309%
$23,017,244,040
(S45,224)
$23,017,198,816
$0.672500
$154,790,662
100.00%
$154,790,662
Total $7,087,059,042 $7,087,059,042
MuniCap, Inc. haps.,Ilu icap.sharepoint.comlsites/ALLSTAFF/TEXAS✓texas/Fort Worth/Veale Ranchl17R7/RojectiowIFiinab[Veale Ranch TIRZ Projection No. 72.r1sxJErhlbit Q1.1.B
4Oct-13
[Assumes an annual inflation factor of 2.0%.
'See Exhibit C-2.7.
'See Exhibit H The TIRZ property in the ETJ of the City, if any, will not generate city taxes until annexed mto the City.
Represents the City of Fort Worth real property tax rate for tax year 2023. Source: Tenant County Tax Assessor -Collector.
'Assumes 100 % the incremental tax revenues are available for return to the City after released from TIRZ obligations..
EXHIBIT D-1.4
PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL REAL
PROPERTY TAXES AVAILABLE TO THE CITY - SUMMARY
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit D-1 * Projected Incremental Real Pmoertv Taxes Available for the City - Summary
Development
Total Projected
Total Projected
Total Available
Year
Assessed
Matim
Assessed Values Available
Assessed Value released
Incremental Tax
Ending
Aa of
Factors
For TIM Obligations'
from TIRZ obligatiam3
Revenues to the Cis_
3t-Dwu
1-hw2#
100%
so
to
$0
31-Dec-24
1-Jm-25
102%
$0
$0
$0
3I-Doc-25
I-Jm-26
104%
$374,552
SO
$374,552
31-D-26
IJaa-27
106%
$876,616
SO
$876,616
31-D-27
1-Jm-28
108%
$1,016,475
$0
$1,016,475
31-Dec-28
1-Jm-29
110%
$2,061,023
$0
$2,061,023
31-D-29
1Jan-30
113%
$3,171,237
$0
$3,171,237
31-Dec-30
I-Jan-31
115%
$4,325,030
so
$4,325,030
31-Doc-31
I-Jm-32
117%
S5,523,701
$0
S5,323,701
31-D-32
1-Jan-33
120%
$6,768,594
$0
$6,768,594
31-Dw-33
1-Jm-34
122%
S8,061,048
s0
S8,061,048
31-Dec-34
I-Jan-35
124%
$9,402,498
SO
S9,402,498
31-D-35
I-Jan-36
127%.
$10,794,377
$0
$10,794,377
31-D-36
1Jan-37
129%
$12,238,165
$0
$12,238,165
31-Dw-37
1-Jm-38
132%
S13,735,382
$0
$13,735,382
31-D-38
1-Jm-39
135%
SIS,287,567
SO
$15,257,587
31-Doc-39
I-Jaa60
137%
$16,896.382
$0
$16,896,382
31-Dec4O
14m61
140%
$18,493,415
$0
$18,493,415
31-Dw61
14m62
143%
$20,147,565
SO
$20,147,565
31-Dw62
1J--43
146a/o
$21,285,007
s0
$21,285,007
31-Dec 43
IJan-44
1499%
$22,459,882
$0
$22,459,882
31-Dw64
I-Jan65
152%
$23,541,465
$0
$23,541,465
31-Dw-45
1-Jm-46
155%
$24,651,322.
$0
$24,657,322
31-Dw66
1-Jan67
158%
$25,808,391
$0
$25,808,391
31-Uee-07
1-Jan-08
161%
$26,814,233
SO
$26,814,233
31-Dec48
I-Jm69
164%
$27,835,992
SO
$27,835,992
31-Dec-09
I,laa-50
167%
$28,851,791
$0
$23,951,791
31-De 50
1-Jm-51
171 %
$29,997,083
$0
$29,897iM
31-Dec-51
1-Jan-52
174%
$30,896,160
$0
$30,896,160
31-Dw52
1,1aa-53
178%
$31,514,331
SO
S31,514,131
31-D-53
I-Jm-54
181%
S32,144,865
$0
$32,144,865
31-Dw54
1-Jm-55
185%
$32,789,010
s0
$32,788,010
31-Dec-55
I-Jm-56
188%
S32,743,410
$1,967,822
S34,711,232
31-D-56
Wan-57
192%
$32,503,539
S4,567,366
$37,070,905
31-Dx-57
i-Jm-58
196%
$32,933,337
$5,292,960
S38,226,297
31-De 58
1Jm-59
200%
S31,738,079
$10,700,652
S42,438,731
31-D-59
1Jan-60
204%
S30,437,812
$16,448,214
$46,996,027
31-Doc60
1-Jan-61
208%
$29,072,810
$22,421.313
S51,494,122
31-Deo-61
I-Jmt62
212%
$27641,002
S28,626,670
$36,267.472
31-Dea62
I-Jaa63
216%
$26,140,264
$35,071,189
$61,211,453
31-Dx 63
1-Jan64
221%
$24,568,410
$41,761,954
$66,330,364
31-Dw64
1-Jaa65
225%
S22,923,197
$48,706,238
S71,629,435
31-Dea65
I-Jan66
230%
$21,202,319
S55,91007
S77,113,826
31-Dw-66
I-Jan67
234%
$19,403,408
$63,395,422
$82,733,930
31-Dw67
1Jm68
239%
$11,524,031
$71,135,949
$98,659,880
31-Dec68
1-Jan69
244%
$15,561,691
$79,170,858
$W,712,548
31-Dw69
1-Jm-70
249%
S13,513,819
$87,498,734
$101,012,552
31-D-70
1Jan-71
2540
$11,304,471
$95,765,479
$107.269,951
31-Dec-71
1-Jm-72
259%
$9,409,321
$104,327,828
$113,737,149
31-Dec-72
1Jan-73
264%
$8,267,870
$110,215,302
$119,493,172
31-Dw73
I-Jm-74
269%
$7,076,985
$116,296,507
$123,373,492
31-D-74
14m-75
275%
S6,073,766
$121,894,724
$127,969,490
31-Dec-75
1-Jm-76
280%
$5,027,577
$127,670,322
S132,697,900
31-Dec-76
1-Jm-77
296%
$3,937,101
$133,629,157
$137,565,259
31-Dw77
I-Jae-78
291%
$3,129,544
$138,834,309
$141,90,953
31-Dw78
1-Jan-79
297%
$2,313,422
$144,122,903
$146,436,225
31-D-79
1-Jm-80
303%
$1,528,775
S149,380,416
$150,909,190
31-Dw-80
1-Jm-8I
309%
$711,809
$154,790,662
$155,502,471
31-D=41
14-82
315%
$0
$159,926,161
$159,926,161
31-Dw-82
I-Jm-83
322%
$0
S163,160,740
$163,160,740
31-Ds-83
1-Jan-84
329%
$0
$166,398,606
S1661,388,6%
31-Dw-84
1-Jm-85
335%
$0
S169,717,085
$169,717,085
31-Dw85
I-J-86
341%
SO
$173,112,133
S173,112,133
31-Dw86
1-Jan-87
348%
$0
S176,575,083
$176,575,093
31-Dw-87
1-Jan-88
355%
$0
$180,107,292
S180,107,292
31-Dw-88
I-Jaa-89
362%
$0
$183,710,145
S183,710,145
31-D-89
I-Jm-90
369%
$0
$187,385,054
$187,385,054
31-Dec-90
1-Jm-91
377%
$0
$191,133,462
$191,133,462
31-Dw-91
1-Jan-92
384%
$0
$194,956,839
$194,956,939
31-D-92
IJan-93
392%
SO
$198,856,692
$198,956,682
31-Dw-93
Wan-94
400%
$0
$197,533,585
$197,533,585
31-Dec-94
1-3m-95
409%
SO
$206,991,920
1206,891,920
31-Dw95
I-Jm-96
416%
SO
$211,030,466
S211030,466
31-Dw96
I-Jaa-97
424%
s0
$215,251,782
$215,251,782
31-Dec-97
1-Jae-98
433%
SO
$219,557,525
S219,557,525
31-Dw-98
1-Jm-99
442%
$0
$223,949,382
S223,949,382
31-Dw-99
Wau-00
450%
$0
$229,429,077
$229,429,077
31-Dw00
1-Jan-01
459%
$0
$232,998,365
$232,998,365
31-Doe01
1Jm-02
469%
s0
$237,659,040
S237,659,040
31-Dw02
1-Jm-03
478%
$0
$242,412,927
$242,412,927
31-Dw03
I-Jm-04
488%
$0
S247,261,893
S247,261,893
31-Dw-04
I-Jm-05
4979/,
$0
S252,207,838
$252,207,938
31-Dw05
1-Jm-06
507%
$0
$257,252,702
S257,252,702
Total
$944,555,935
$7,087,059,042
$8,031,614,977
Mw1Cap, Iw LSTAFF1IM4&i-1FwtW*wale Res AMR7/ *mffm T7wI/JY I,Rmh77RZ F�gmftm No 72+1=]Erhibu&I.ZC
49�t-33
'Amuara as amwal
sn0abm hob of 2%.
'Sea Fxhibt D-LZ.
'Su Ex6tbit 1}7.3.
EXHIBIT E
MAP AND DESCRIPTION OF THE PROPOSED USES OF THE PROPERTY
(CURRENT CONCEPT PLAN)
r-0
r i
I
i
I
I �
i Y
INDUSTRIAL Q
ALEDO ONA',�ROA--
+/-54 AC.
Ii
INDUSTRIAL
MIXED -USE +/-526 AC. }
+/-25 AC. Elm MIXED -USE
z u j p +/-167 AC.
ZlZ m a�3 INDUSTRIAL
FM 1187 Ulu INDUSTRIAL io +/440AC.
wi~ +/-13AC. I SINGLE FAMILY MIXED -USE
MIXED -USE ��z i +/-102 AC. +/-22 AC.
MIXED -USE +/-95 AC. dIQ i
+/-11 AC. '~ ' _ _ XED-USE SINGLE FAMILY
MIXED -USE I +/-72 A +/- 40 AC.
+/-47 AC. j MIXED -USE MIXED -USE ' SINGLE FAMILY
I +/-106 AC. +/-66 AC. I +/-35 AC
SINGLE FAMILY MIXED USE
SINGLE FAMILY i SINGLE FAMILY +/-17 AC
+/-182AC. SINGLE FAMILY i +/-84AC INGLEFAMILY
+/-175 AC. +/- 70 A
0o
i I
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EXHIBIT F
LIST OF PARCELS IN THE ZONE
(See Exhibit H)
EXHIBIT G-1
PROJECT COSTS
ESTIMATED PROJECT COSTS
Proposed TIRZ Projects Total
Residential
Excavation
$0
Sanitary Sewer
$0
Storm Sewer
$59,000,000
Water Distribution System
$0
Roadway Improvements (Residential)
$0
Roadway Improvements
$49,000,000
Retaining Walls
$0
Public Landscaping, Trails, and Parks
$3,000,000
Private Landscaping/Screening
$0
Engineering and City Fes
$36,000,000
Financing Costs (including Cost of Issuance)
$36,750,000
Other Soft and Miscellaneous Costs (including Contingencies
and Economic Development Grants)
$55,125,000
Subtotal Residential
$238, 875, 000
Master Infrastructure
Excavation $0
Sanitary Sewer
$23,000,000
Storm Sewer
$11,000,000
Water Distribution System
$24,000,000
Roadway Improvements
$167,000,000
Public Landscaping, Trails, and Parks
$50,000,000
Water and Sewer Per Acre
$17,000,000
Engineering and City Fes
$61,000,000
Financing Costs (including Cost of Issuance)
$88,250,000
Other Soft and Miscellaneous Costs (including Contingencies
and Economic Development Grants)
$132,375,000
Subtotal Master Infrastructure
$573, 625, 000
Total Proposed TIRZ Projects costs financed
$812,500,000
EXHIBIT G-2
AUTHORIZED IMPROVEMENTS
Exhibit D
Authorized Improvements
1. The Authorized Improvements shall consist of all items defined as Authorized
Improvements under Texas Local Government Code Chapter 372.003, except that the
following shall not be Authorized Improvements:
(a) Water lines having a diameter of 8" or less located in and serving a for sale or rent
single family home, cottage home, and townhome residential subdivisions will not
be eligible for reimbursement. Oversizing of lines in and serving residential areas
must be approved by the City.
(b) Sanitary sewer lines with a diameter of 8" or less located in and serving a for sale
or rent single family home, cottage home, and townhome residential subdivisions
will not be eligible for reimbursement. Oversizing of lines in and serving
residential areas must be approved by the City.
(c) Local residential streets, as defined by Fort Worth Master Thoroughfare Plan, will
not be an Authorized Improvement.
2. In conjunction with the negotiation of the Master Reimbursement Agreement, the Parties
shall provide additional detail as to the Authorized Improvements and the current Budgeted
Costs thereof, including a calculation of the maximum cost of the Authorized
Improvements to be reimbursed over the Term of this Agreement. The Budgeted Cost of
an Authorized Improvement shall be updated through the date the applicable Authorized
Improvement is completed.
3. Roads.
(a) The Budgeted Costs of a road shall include all costs thereof authorized to be funded
under the PID Act, including, but not limited to, the acquisition, construction,
improvement, widening, narrowing, closing, and re-routing of streets, roadways,
bridges, and arterials and the installation of sidewalks, right-of-way landscaping,
lighting, monumentation, masonry screening and wayfinding.
(b) If a Developer owns the Property on which a street is to be built, then the value of
the road right-of-way to be dedicated to the City shall be an Authorized
Improvement, subject to reimbursement from the PID or TIRZ based on the fair
market value of such Property at the time of dedication, as determined by an
independent appraiser mutually agreed upon by the Developer and City.
Water Facilities.
(a) The Budgeted Costs of water distribution facilities shall include all costs thereof
authorized to be funded under the PID Act, including, but not limited to, the
acquisition, construction, and improvement of water and reclaimed water supply
lines and related facilities and equipment, including master infrastructure lines or
facilities, including the Ventana Pump Station 24" Water Lines and/or Water Main
Exhibit D, Authorized Improvements — Page 1
Capacity Charges, if those costs and benefits are allocable to any portion of the
Property.
(b) If a Developer owns the Property on or under which water infrastructure is to be
built, the dedication of an easement or other property right for a water infrastructure
will not be subject to reimbursement from the PID or TIRZ.
5. Wastewater Facilities.
(a) The Budgeted Costs of wastewater facilities shall include all costs thereof
authorized to be funded under the PID Act, including, but not limited to, the
acquisition, construction, and improvement of sanitary sewer lines, Force Main,
Lift Station and related facilities and equipment.
(b) Per acre charges and/or previously paid items for any existing or future master
infrastructure lines or facilities, including the Ventana Lift Station, Benbrook
Interconnect engineering and Force Main, will be eligible Authorized
Improvements if those costs and benefits are allocable to any portion of the
Property.
(c) If a Developer owns the Property on or under which wastewater infrastructure is to
be built, the dedication of an easement or other property right for the wastewater
infrastructure will not be subject to reimbursement from the PID or TIRZ.
6. Stormwater Facilities.
(a) The Budgeted Costs of stormwater facilities shall include all costs thereof
authorized to be funded under the PID Act, including, but not limited to, the
acquisition, construction, and improvement of stormwater drainage and detention
improvements and related facilities and equipment.
(b) If a Developer owns the Property on or under which stormwater facilities are to be
built, the dedication of an easement or other property right for the stormwater
facilities will not be subject to reimbursement from the PID or TIRZ
7. Landscapes.
(a) The Budgeted Costs of landscaping facilities shall include all costs thereof
authorized to be funded under the PID Act, including, but not limited to, the
planting and maintenance of special supplemental landscaping and the construction
and maintenance of supplemental irrigation systems, fountains, ponds, lakes, parks,
and open spaces, playgrounds, athletic facilities, pavilions, trails, lighting, and
benches.
(b) If a Developer owns the Property on which landscaping is to be built, then the value
of the land to be dedicated to the City shall be an Authorized Improvement, subject
to reimbursement from the PID or TIRZ based on the fair market value of such
Property at the time of dedication, as determined by an independent appraiser
mutually agreed upon by the Developer and City.
Exhibit D, Authorized Improvements — Page 2
8. Budgeted Costs shall include the cost of financing the Authorized Improvements to the
maximum extent allowed under the PID Act, including, but not limited to, the cost to issue
and sell PID Bonds, including:
i. Bond issuance costs
ii. Legal and financial costs
iii. Credit enhancement costs
iv. Costs incurred in the establishment, administration, and operation of the PID
v. Debt service reserves
Budgeted Costs shall include to the maximum extent allowed under the PID Act the cost
to create and administer the PID, including (i) City, Developer and Owner consultants, and
(ii) all fees paid to the City relative to creation of the PID (i.e. the City's $35,000 and
$150,000 fees).
10. Authorized Improvement Costs shall include all "soft costs," such as engineering costs,
construction phase engineering services, construction costs, public bidding advertising
costs, easements, permits, IPRC Engineering Plan Review fees, material testing costs,
administrative material testing costs, construction inspection service fees, water lab testing
fees, franchise utility relocation costs, and the cost of public notifications.
Exhibit D, Authorized Improvements — Page 3
EXHIBIT H
CURRENT APPRAISED VALUE OF THE ZONE (BASE YEAR)
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Base Year Market Value vs Taxable Value
2023
Property ID
Acreage
Land Use
Owner
Market Value?
Taxable
Valuer
3910903
0.8800
ResAg
PMB Rolling V South Land LP
$3,910,903
$52
4144066
29.2090
ResAg
PMB Rolling V South Land LP
$300,000
$2,308
4224310
71.4630
ResAg
PMB Rolling V South Land LP
$630,241
$4,216
4914287
4.9200
ResAg
PMB Rolling V South Land LP
$83,640
$389
6234097
271.1100
ResAg
PMB Rolling V South Land LP
$2,027,770
$15,995
6234119
172.3200
ResAg
PMB Rolling V South Land LP
$1,670,300
$10,167
40518566
4.1400
ResAg
TRT Land Investors LLC
$74,520
$327
40549852
33.4000
ResAg
TRT Land Investors LLC
$342,350
$1,971
40549860
1.0000
Single Family
TRT Land Investors LLC
$713,333
$785,354
41302796
16.0000
ResAg
TRT Land Investors LLC
$455,285
$214,229
41460901
15.0000
ResAg
TRT Land Investors LLC
$235,000
$1,185
42231491
2.1900
Residential - Vacant
TRT Land Investors LLC
$43,800
$43,800
42241225
40.1600
Residential - Vacant
PMB Ventana Developer South LLC
$411,120
$411,120
42308346
1.5880
ResAg
TRT Land Investors LLC
$31,760
$125
42308354
4.0930
ResAg
TRT Land Investors LLC
$77,767
$323
42346213
6.6000
ResAg
TRT Land Investors LLC
$67,650
$389
42346221
0.8620
ResAg
TRT Land Investors LLC
$7,834
$51
42346230
3.8400
ResAg
TRT Land Investors LLC
$76,800
$303
42346248
0.2100
ResAg
TRT Land Investors LLC
$4,200
$17
42491221
13.5000
ResAg
TRT Land Investors LLC
$202,050
$1,066
42502339
15.0000
ResAg
TRT Land Investors LLC
$235,000
$1,185
42721243
111.1970
ResAg
PMB Rolling V South Land LP
$908,379
$6,561
42721413
23.8500
ResAg
PMB Rolling V South Land LP
$371,188
$1,407
42721430
24.4200
ResAg
PMB Rolling V South Land LP
$300,940
$1,929
42724447
81.3700
Residential - Vacant
PMB Ventana Developer South LLC
$699,590
$699,590
42724455
5.2900
Residential - Vacant
PMB Ventana Developer South LLC
$105,800
$105,800
42724463
7.7500
Residential - Vacant
PMB Ventana Developer South LLC
$147,250
$147,250
42782684
1.0640
ResAg
TRT Land Investors LLC
$9,634
$63
42782692
0.6800
ResAg
TRT Land Investors LLC
$6,180
$40
42782706
2.6900
ResAg
TRT Land Investors LLC
$24,448
$159
42782714
12.7000
ResAg
TRT Land Investors LLC
$115,426
$749
42797321
961.5110
ResAg
TRT Land Investors LLC
$0
$0
42797339
387.0770
ResAg
TRT Land Investors LLC
$2,839,539
$22,838
42797347
145.0000
ResAg
TRT Land Investors LLC
$1,145,000
$11,455
42797517
0.5580
ResAg
TRT Land Investors LLC
$11,160
$33
42820616
41.3900
ResAg
PMB TEAM RANCH DEVCO LLC
$619,730
$3,270
42820624
0.1380
ResAg
PMB I20 LAND LP
$5,520
$11
42820632
13.2670
ResAg
PMB TEAM RANCH DEVCO LLC
$422,869
$1,048
42820641
19.5860
ResAg
PMB 120 LAND LP
$467,102
$1,547
42830522
184.9500
ResAg
PMB I20 LAND LP
$0
$0
42894784
5.1600
Residential - Vacant
PMB Ventana Developer South LLC
$103,200
$103,200
42894792
11.5000
Residential - Vacant
PMB Ventana Developer South LLC
$210,500
$210,500
42894806
1.8590
Residential - Vacant
PMB Ventana Developer South LLC
$37,180
$37,180
42894814
0.6600
Residential - Vacant
PMB Ventana Developer South LLC
$13,200
$13,200
3861694
4.7780
ResAg
PMB I20 LAND LP
$0
$0
3861716
18.5800
ResAg
TRT Land Investors LLC
$260,060
$1,468
3910520
20.5970
ResAg
PMB I20 LAND LP
$0
$0
3910830
18.8600
ResAg
TRT Land Investors LLC
$222,717
$1,490
4098382
18.4760
ResAg
PMB I20 LAND LP
$459,332
$1,460
4098420
0.8470
ResAg
TRT Land Investors LLC
$16,940
$67
4121376
1.0000
Single Family
TRT Land Investors LLC
$169,405
$169,405
4197593
25.7050
ResAg
PMB Veale Land Investors 1 LP
$309,935
$1,517
4224442
481.9200
ResAg
TRT Land Investors LLC
$3,503,440
$28,433
4299167
40.0000
ResAg
TRT Land Investors LLC
$363,546
$2,360
4305043
4.2630
ResAg
TRT Land Investors LLC
$38,745
$252
4305213
158.6080
ResAg
PMB Veale Land Investors 1 LP
$1,240,256
$9,358
4312694
15.0000
ResAg
PMB Veale Land Investors I LP
$164,500
$1,185
5950260
400.8000
ResAg
TRT Land Investors LLC
$2,935,600
$31,663
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Velue Ranch)
Base Year Market Value vs Taxable Value
2023
Property ID
Acreage
Land Use
Owner
Market Value
Taxable
Valuer'
6265081
1.0000
Single Family
TRT Land Investors LLC
$216,953
$216,953
7652615
4.0000
Single Family
TRT Land Investors LLC
$1,109,854
$1,109,854
40549879
11.0000
ResAg
TRT Land Investors LLC
$207,000
$649
42988568
1.0120
Vacant Commercial
City of Fort Worth
$0
$0
42989475
56.7800
ResAg
Wal-Mart Stores East LP
$0
$0
42989483
13.8500
ResAg
PMB I20 LAND LP
$0
$0
42989335
5.9800
ResAg
Wal-Mart Stores East LP
$0
$0
42989441
37.6300
ResAg
Wal-Mart Stores East LP
$0
$0
42989467
3.5700
ResAg
Wal-Mart Stores East LP
$0
$0
42989459
2.6000
ResAg
Wal-Mart Stores East LP
$0
$0
42989432
57.4300
ResAg
Wal-Mart Stores East LP
$0
$0
R000043635
67.0000
Not Zoned
TRT Land Investors LLC
$1,541,000
$2,950
R000050465
178.0000
Not Zoned
TRT Land Investors LLC
$4,094,000
$7,830
R000059008
126.5400
Not Zoned
TRT Land Investors LLC
$2,910,420
$5,570
R000063119
178.1750
Not Zoned
TRT Land Investors LLC
$4,098,030
$7,840
R000063224
109.7000
Not Zoned
TRT Land Investors LLC
$2,523,100
$4,830
R000063226
1.0000
Not Zoned
TRT Land Investors LLC
$467,600
$467,600
R000064877
165.0000
Not Zoned
TRT Land Investors LLC
$3,795,000
$7,260
R000095225
1.0000
Not Zoned
TRT Land Investors LLC
$302,650
$302,650
R000095227
I4.0000
Not Zoned
TRT Land Investors LLC
$322,000
$620
Total 5192.11 $53,131,152 $5,256,331
1 - Values obtained from Tarrant County Central Appraisal District and Parker County Appraisal District in September of 2023.
2 - Values obtained from Parker County Tax Assessor and Tarrant County Tax Accessor.
Parcels
Land Use
Type
Total
Acres
Total
Market Value
Total
Taxable Value
Various
ResAg
4187.74
$29,096,167
$395,975
Various
Single Family
7.00
$2,209,545
$2,281,566
Various
Residential - Vacant
155.94
$1,771,640
$1,771,640
Various
Vacant Commercial
1.01
$0
$0
Various
Not Zoned
84042
$20,053,800
$807,I50
Total
5192.11
553,131,152
1 $5,256,331
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 11/14/23 M&C FILE NUMBER: M&C 23-0966
LOG NAME: 17TIF16ADOPTPLAN
SUBJECT
(ETJ) Adopt Ordinance Approving the Project and Financing Plan for Tax Increment Reinvestment Zone No. 16, City of Fort Worth, Texas (Veale
Ranch TIF)
RECOMMENDATION:
It is recommended that the City Council adopt the attached ordinance approving the Project and Financing Plan for Tax Increment Reinvestment
Zone No. 16, City of Fort Worth, Texas (Veale Ranch TIF).
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to adopt an ordinance approving the final Project and Financing Plan ("Plan") for
Tax Increment Reinvestment Zone Number 16, City of Fort Worth, Texas (Veale Ranch) ("TIRZ"). On September 12, 2023, the City Council
adopted Ordinance No. 26420-09-2023, establishing the TIRZ and a governing Board of Directors ("Board").
PMB Veale Land Investors I, LP and other entities ("Developer") entered into an agreement with the City of Fort Worth ("City") on March 8th, 2023
for the development of approximately 5,200 acres consisting of parcels known as Veale Ranch/Team Ranch, Rolling V South, Rockbrook, and
Ventana South (collectively, "Development"), which are located primarily within Fort Worth's extraterritorial jurisdiction in Parker County and Tarrant
County (Fort Worth City Secretary Contract No. 59003) ("Development Agreement"). To accomplish the Development envisioned by the
Developer and City and to provide financing for certain improvements, the City and Developer agreed to work together to create the Veale Ranch
Public Improvement District ("PID") and the TIRZ. The Agreement provides that the Development will be constructed and annexed in phases (each
an "Improvement Area") over a period of up to 50 years and that the PID assessments, TIRZ collections, and bond issuances will occur after
annexation for 25 to 30-year periods for each Improvement Area in order to reimburse the Developer for certain authorized public improvements;
The TIRZ was established to accomplish the Development, including (i) offsetting or paying a portion of any assessments levied within the
Development to achieve a desired tax rate equivalent for the PID for each Improvement Area; (ii) provide incremental funding for public
infrastructure not funded by, or in lieu of, the PID; (iii) provide economic development incentives in alignment with the City's then current economic
incentives policy; and (iv) further promote development within the boundaries of the TIRZ District.
At the Board's first meeting on October 18, 2023, it adopted the attached Plan for consideration by the City Council. With the Plan in place, the
TIRZ will be in a position to help finance public infrastructure improvements in the area, such as road and access improvements and other public
infrastructure improvements, excluding local residential streets and 8" residential water and sewer lines, to support the development of the Veale
Ranch area.
State law requires City Council approval of a TIRZ's Plan through an ordinance before the Plan takes effect. Thus, staff recommends that the City
Council adopt the attached ordinance approving the Plan for the TIRZ, as adopted by the TIRZ's Board.
The proposed Veale Ranch TIF is located in both the City's corporate limits and the City's extra -territorial jurisdiction
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 approval of these recommendations will have no material effect on City funds
Submitted for City Manager's Office by William Johnson 5806
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Michael Hennig 6024
Crystal Hinojosa 7808