HomeMy WebLinkAboutContract 62365-A1CSC No. 62365-A1
AMENDMENT NO. 1 TO
CITY OF FORT WORTH AND TARRANT COUNTY, TEXAS
AGREEMENT TO PARTICIPATE IN
TAX INCREMENT REINVESTMENT ZONE NUMBER SIXTEEN,
CITY OF FORT WORTH, TEXAS
This AMENDMENT NO. I TO CITY OF FORT WORTH AND TARRANT
COUNTY, TEXAS AGREEMENT TO PARTICIPATE IN TAX INCREMENT
REINVESTMENT ZONE NUMBER SIXTEEN, CITY OF FORT WORTH,
TEXAS ("Amendment") is entered into by and between the CITY OF FORT
WORTH, TEXAS (the "City"), a home rule municipality organized under the laws of
the State of Texas and TARRANT COUNTY, TEXAS ("Taxing Unit").
The City and Taxing Unit hereby agree that the following statements are true and
correct and constitute the basis upon which the City and Taxing Unit have entered into
this Amendment:
A. On September 12, 2023, the City Council of the City of Fort Worth, Texas
(the "Council") adopted City Ordinance No. 26420-09-2023 designating certain real
property that includes approximately 5181.922 acres as Tax Increment Reinvestment
Zone Number Sixteen, City of Fort Worth, Texas (the "Zone").
B. On June 18, 2024, the City and Taxing Unit entered into an agreement
("Participation Agreement") under which Taxing Unit agreed to deposit fifty percent
(50%) of Taxing Unit's Tax Increment, up to a maximum of $154,684,773.00, into the
Tax Increment Fund for the Zone, as specifically provided in that Participation
Agreement.
C. The Participation Agreement incorrectly states that "the County agrees to
deposit each year during the term of the TIF District beginning with the 2023 tax year,
fifty percent (50%) of the County's Tax Increment into the Tax Increment fund." This
Amendment to the Participation Agreement corrects this statement to reflect the County's
agreement to deposit each year during the term of the TIF District beginning with the
2024 tax year, fifty percent (50%) of the County's Tax Increment into the Tax Increment
fund.
NOW, THEREFORE, the City and Taxing Unit, for and in consideration of the
terms and conditions set forth herein, do hereby contract, covenant and agree as follows:
1. Section 3. Devosit of Tax Increment. of the Participation Agreement is hereby
amended to correctly define the first tax year in which increment will be deposited — tax
year 2024 and should read as follows:
Amendment No. 1 to Tarrant County
Participation Agreement re: City of Fort Worth TIRZ # 16
Page 1
Pursuant to a Resolution duly adopted by the governing body of the County,
which Resolution is attached hereto as Exhibit "C" and is hereby made part of this
Agreement for all purposes, and specifically subject to Section 4 of this Agreement, the
County hereby agrees to deposit each year during the term of the TIF District, beginning
with the 2024 tax year, fifty percent (50%) of the County's Tax Increment into the Tax
Increment Fund up to a maximum cumulative contribution of one hundred fifty-four
million six hundred eighty-four thousand seven hundred seventy-three dollars
($154,684,773.00) (the "Maximum County Contribution"), The calculation to
determine the dollar amount of the County's Tax Increment to be deposited shall be made
in accordance with the County's Tax Increment Financing Policy and such deposits shall
be made in accordance with the City's standard administrative procedures relative to all
tax increment reinvestment zones administered by the City, but only following receipt of
a bill from the City that outlines the City's calculation of the amount of the deposit that is
required for that year.
2. All other terms set forth in the Participation Agreement and their respective
definitions, as well as all other provisions and conditions of the Participation Agreement,
shall remain in full force and effect.
3. Capitalized terms used but not identified in this Amendment shall have the same
meanings assigned to them in the Participation Agreement.
4. This Amendment contains the final written expression of the City and Taxing
Unit with respect to the subject matter hereof. This Amendment may be executed in
multiple counterparts, each of which shall be considered an original, but all of which
shall constitute one instrument.
EXECUTED as of the later date below:
CITY OF FORT WORTH, TEXAS:
By: 0��
Jesica McEachern
Date: Mar 17, 2025
ATTEST:
By:
City Secretary
Assistant City Manager
Amendment No. 1 to Tarrant County
Participation Agreement re: City of Fort Worth TIR7_ # 16
Page 2
TARRANT COUNTY, �T, EXAS:
By:
Tim O'Hare, County Judge
Date: q h, I � -` t
ATTEST:
By:
Depu unty Clerk
APPROVED AS TO FORM/LEGALITY:
I:
Lcunrreras-G col w'w
City Attorney Sr. Asst. City Atty.
APPROVED AS TO FORM*:
By:
Assistant Criminal District Attorney
*By law, the District Attorney's Office may only approve contracts for its clients. We reviewed this document from our
client's legal perspective. Other parties may not rely on this approval. Instead those parties should seek contract
review from independent counsel.
Amendment No. 1 to Tarrant County
Participation Agreement re: City of Fort Worth TCfW #lb
Page 3
RESOLUTION
AMENDMENT TO PARTICIPATION AGREEMENT
FOR CITY OF FORT WORTH TAX INCREMENT FINANCING
REINVESTMENT ZONE NUMBER SIXTEEN
WHEREAS, on September 12, 2023, the Fort Worth City Council, adopted Ordinance No. 26420-09-2023
designating certain real property that includes approximately 5181.922 acres known as VeaIe Ranch as Tax Increment
Reinvestment Zone Number Sixteen, City of Fort Worth, Texas; and
WHEREAS, on June 18, 2024, Tarrant County, through Commissioners Court Order No. 143302, entered
into an agreement under which the County agreed to deposit fifty percent (50%) of the County's Tax Increment into
the TIF District's Tax Increment Fund ("Participation Agreement"), as specifically provided in that Participation
Agreement; and
WHEREAS, with the approval of this amendment to the Participation Agreement, Section 3 regarding the
first Deposit of Tax Increment will be correctly defined as tax year 2024; and
WHEREAS, the Tarrant County Commissioners Court recognizes that Tarrant County's continued
participation in funding of the Zone through approval of this amendment will have the desired effect of further
developing the area to the benefit of all taxing units which levy taxes in the proposed reinvestment zone;
NOW, THEREFORE, BE IT RESOLVED:
That the Tarrant County Commissioners Court hereby approves the modification of Section 3 of the
Participation Agreement to correctly define the first tax year in which increment will be deposited — tax year 2024;
that the Amendment No. I to the Participation Agreement for the County be and is hereby approved; that the
Commissioners Court hereby agrees to enter into the Amendment No. I to the Participation Agreements as a party
thereto; and the County Judge of the County be and is hereby authorized and directed to execute said Amendment No.
1 to the Participation Agreement on behalf of the County and Commissioners Court substantially in the form of the
attached hereto and carry out the terms thereof at the appropriate time(s).
PASSED AND APPROVED, IN OPEN C hi 6t' day of August 2024, through Court Order
No. JrSfl
r
Tim O'Hare, County Judge
Roy C. Brooks
Commissioner, Precinct 1
G Fickes
Commissioner, Precinct 3
Alisa Simmons
Commissioner, Precinct 2
Manny Ramirez /
Commissioner, recmct 4
CSC No. 62365
AGREEMENT TO PARTICIPATE IN
TAX INCREMENT REINVESTMENT ZONE NUMBER SIXTEEN
CITY OF FORT WORTH, TEXAS
(VEALE RANCH TIF)
This AGREEMENT TO PARTICIPATE IN TAX INCREMENT REINVESTMENT
ZONE NUMBER SIXTEEN, CITY OF FORT WORTH, TEXAS ("Agreement") is entered
into by and between the CITY OF FORT WORTH, TEXAS (the "City") and TARRANT
COUNTY (the "County").
The City and the County hereby agree that the following statements are true and correct
and constitute a basis upon which the City and the County have entered into this Agreement:
A. On September 12, 2023, the City Council of the City ("City Council") adopted
City Ordinance No. 2640-09-2023 designating certain real property that includes approximately
5181.922 acres as Tax Increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas
{the "TIF District"). The TIF District is informally known as the "Veale Ranch TIF." Ordinance
No. 2640-09-2023 is hereby incorporated by reference for all purposes and is attached hereto as
Exhibit "A."
B. The TIF District lacks adequate infrastructure to sustain viable development,
including but not limited to, water, sewer, drainage, roads and sidewalks. Public improvements to
be supported by the TIF District will result in increased tax revenues and other public benefits for
both the City and the County.
C. Pursuant to Section 311.013(o of the Texas Tax Code, the County is not required
to pay any tax increment into the tax increment fund of the TIF District unless it enters into an
agreement to do so with the City. The County wishes to enter into such an agreement with the
City.
NOW, THEREFORE, for and in consideration of the conditions set forth herein, the
sufficiency of which is hereby acknowledged, the City and the County do hereby contract,
covenant and agree as follows:
1. INCORPORATION OF RECITALS.
The parties hereby agree that the recitals set forth above are true and correct and form the
basis upon which they have entered into this Agreement.
Tarrant County Participation Agreement
Veale Ranch TIRZ
Page 1
2. DEFINITIONS.
In addition to any terms defined in the body of this Agreement, the following terms shall
have the definitions ascribed to them as follows:
Act means the Tax Increment Financing Act, as amended and codified as Chapter 311 of
the Texas Tax Code.
Captured Appraised Value in a given y
property taxable by the County and located in the
Base.
;ar means the total appraised value of all real
TIF District for that year less the Tax Increment
Project Plan means the project plan for the development and/or redevelopment of the TIF
District, as adopted by the TIF Board and approved by the City Council of the City, attached hereto
as Exhibit "B."
TIF Board means the governing board of directors of the TIF District appointed in
accordance with Section 311.009 of the Act and Section 3 of the City Ordinance No. 2640-09-
2023. At all times during the term of the TIF District, the County shall appoint and maintain at
least one (1) member on the TIF Board and may appoint non -voting ex-officio members or County
staff members who shall also be notified of all TIF Board meetings and actions. In addition to
Tarrant County's one (1) appointment, Tarrant County may provide the City with the name and
address of one additional representative to be considered by the City.
TIF District means the certain real properties and boundaries as described in City
Ordinance No. 2640-09-2023, attached hereto as Exhibit "A."
Tax Increment in a given year means the amount of property taxes levied and collected by
the County for that year on the Captured Appraised Value of real property taxable by the County
and located in the TIF District.
Tax Increment Base means the total appraised value as of January 1, 2023 of all real
property taxable by the County and located in the TIF District.
Tax Increment Fund means that fund created by the City pursuant to Section 311.014 of
the Act and Section 6 of City Ordinance No. 2640-09-2023, which will be maintained by the City
as a separate and individual account, into which all revenues of the TIF District will be deposited,
including (1) deposits of Tax Increment by the City and by other taxing units with jurisdiction over
real property in the TIF District, including the County, and (ii) all accrued interest earned on the
cash balance of the fund.
TIF Ordinance means City Ordinance No. 2640-09-2023, attached hereto as Exhibit "A."
Tarrant County Participation Agreement
Veale Ranch TTRZ
Page 2
3. DEPOSIT OF TAX INCREMENT.
Pursuant to a Resolution duly adopted by the governing body of the County, which
Resolution is attached hereto as Exhibit "C" and is hereby made part of this Agreement for all
purposes, and specifically subject to Section 4 of this Agreement, the County hereby agrees to
deposit each year during the term of the TIF District, beginning with the 2023 tax year, fifty percent
(50%) of the County's Tax Increment into the Tax Increment Fund up to a maximum cumulative
contribution of one hundred fifty-four million six hundred eighty-four thousand seven hundred
seventy-three dollars ($154,684,773.00) (the "Maximum County Contribution"). The
calculation to determine the dollar amount of the County's Tax Increment to be deposited shall be
made in accordance with the County's Tax Increment Financing Policy and such deposits shall be
made in accordance with the City's standard administrative procedures relative to all tax increment
reinvestment zones administered by the City, but only following receipt of a bill from the City that
outlines the City's calculation of the amount of the deposit that is required for that year.
4. LIMITATIONS ON TAX INCREMENT DEPOSITS AND USE OF FUNDS.
This Agreement is based on the following conditions, and the City agrees and
acknowledges the County's right to enforce the conditions contained herein by injunction or any
other lawful means in the event of one or more such conditions not satisfied.
4.1 Amendment to TIF Ordinance.
The TIF Ordinance designates the boundaries, the eligible real properties for the
calculation of Tax Increment for the TIF District and the specific participation Ievel of the
City. All amendments to the TIF Ordinance shall be approved by the TIF Board prior to
approval by the City Council. If the City Council approves an amendment to the TIF
Ordinance different from the amendment approved by the TIF Board, the County shall
suspend payment into the TIF Fund as described in Section 3 until the amendment is
approved by the governing body of the County.
4.2 Certain TIF District Proiect Costs Excluded.
All TIF Fund allocations, including but not limited to any management and
administrative cost, must be approved by the TIF Board in accordance with the Project
Plan.
4.3 TIF District Expansion.
As defined, the TIF District shall include real properties located within the
boundaries as described in the TIF Ordinance. If the TIF District is expanded, the County
is not required to deposit into the Tax Increment Fund any Tax Increment generated from
properties in the expanded area unless participation in the expanded boundary area is
approved by the governing body of the County as an amendment to this Agreement.
Additionally, the Tax Increment deposited into the Tax Increment Fund by the County may
not be used for any permissible project costs in any portion of the expanded area of the TIF
Tarrant County Participation Agreement
Veale Ranch TIRZ
Page 3
District unless approved by the governing body of the County as an amendment to this
Agreement.
4.4 Tax Exemptions.
Both the City and the County shall retain the right to grant tax exemptions as
permitted by applicable law to properties located in the TIF District for purposes including
but not limited to 1) historic preservation and restoration and 2) homestead eligibility. This
shall not include any form of tax abatement or grant of tax funds collected by either the
City or the County without prior approval by the TIF Board pursuant to Section 311.013(f)
of the Texas Tax Code.
5. TERM.
This Agreement shall take effect on the date as of which both parties have executed it and
shall expire upon termination of the TIF District, which currently is the earlier of (i) December 31,
2052 or an earlier termination date designated by ordinance subsequently adopted by the City
Council of the City or (ii) the date on which all project costs of the TIF District, including, but not
limited to, tax increment bonds and interest on those bonds, have been paid or otherwise satisfied
in full, including, but not limited to, tax increment bonds and interest on those bonds, have been
paid or otherwise satisfied in full or (iii) when the County's maximum contribution of
$154,684,773.00 has been reached, whichever occurs first.
6. TIF FUND ACCOUNTING.
No later than July 1 of each year following execution of this Agreement, the City shall
provide the County with an annual accounting of the funds deposited to and dispersed from the
Tax Increment Fund, including accrued interest. After all project costs of the TIF District have
been paid or at the time of the expiration of this Agreement, any funds remaining in the Tax
Increment Fund following the final annual accounting by the City shall be paid to those taxing
units participating in the TIF District in proportion to each taxing unit's share of the total amount
of Tax Increment deposited into the Tax Increment Fund.
7. RESPONSIBILITY FOR ACTS.
The City and the County shall each be responsible for the sole negligent acts of their
officers, agents, employees, or separate contractors. In the event of a joint and concurrent
negligence of both the City and the County, responsibility, if any, shall be apportioned
comparatively with the laws of the State of Texas, with the understanding that neither parry waives
any governmental powers or immunities or any other defenses available to each individually.
Tarrant County Participation Agreement
Veale Ranch TIRZ
Page 4
S. NOTICES.
All written notices called for or required by this Agreement shall be addressed to the
following, or such other party or address as either party may subsequently designate in writing, by
certified mail, postage prepaid, or by hand delivery:
City:
County:
City of Fort Worth Tarrant County Administrator's Office
Attn: City Manager 100 East Weatherford Street
1000 Throckmorton Street Suite 404
Fort Worth, Texas 76102 Fort Worth, Texas 76196-0609
with copies to:
the City Attorney and
Housing and Economic Development
Director at the same address
9. NO WAIVER.
The failure of either party to insist upon the performance of any term or provision of this
Agreement or to exercise any right granted hereunder shall not constitute a waiver of that party's
right to insist upon appropriate performance or to assert any such right on any future occasion.
10. VENUE AND JURISDICTION.
If any action, whether real or asserted, at law or in equity, arises on the basis of any
provision of this Agreement, venue for such action shall lie in state courts located in Tarrant
County, Texas or the United States District Court for the Northern District of Texas — Fort Worth
Division. This Agreement shall be construed in accordance with the Iaws of the State of Texas.
11. NO THIRD PARTY RIGHTS.
The provisions and conditions of this Agreement are solely for the benefit of the City and
the County and are not intended to create any rights, contractual or otherwise, to any other person
or entity.
12. FORCE MAJEURE.
The parties shall exercise every reasonable effort to meet their respective obligations as set
forth in this Agreement, but shall not be held Iiable for any delay in or omission of performance
due to force majeure or other causes beyond their reasonable control, including, but limited to,
compliance with any government law, ordinance or regulation, acts of God, acts of omission, fires,
strikes, lockouts, national disasters, wars, riots, epidemic, material or labor restrictions,
transportation problems and/or any other cause beyond the reasonable control of either party.
Tarrant County Participation Agreement
Veale Ranch TIRZ
Page 5
13. INTERPRETATION.
In the event of any dispute over the meaning or application of any provision of this
Agreement, this Agreement shall be interpreted fairly and reasonably, and neither more strongly
for or against any parry, regardless of the actual drafter of the Agreement.
14. CAPTIONS.
Captions and headings not used in this Agreement are for reference purposes only and shall
not be deemed part of this Agreement.
15. ENTIRETY OF AGREEMENT.
This Agreement, including any exhibits attached hereto and any documents incorporated
herein by reference, contains the entire understanding and agreement between the City and the
County as to the matters contained herein. Any prior or contemporaneous oral or written
agreement is hereby declared null and void to the extent in conflict with any provision of this
Agreement. Notwithstanding anything to be the contrary herein, this Agreement shall not be
amended unless executed in writing by both parties and approved by the City Council of the City
in an open meeting held in accordance with Chapter 551 of the Texas Government Code.
16. COUNTERPARTS.
This Agreement may be executed in multiple counterparts, each of which shall be
considered an original, but all of which shall constitute one instrument.
[Signatures on Following Page]
Tarrant County Participation Agreement
Veale Ranch TIRZ
Page 6
EXECUTED as of the later date below:
CXTY OF FORT WORTH, TEXAS:
By: William Johnson (N v 26, 202411:2T CST)
William Johnson
Assistant City Manager
Date: Nov 26, 2024
ATTEST:
q, A
By: Q
Jannette Goodall
City Secretary
APPROVED AS TO FORM/LEGALITY
L.akyv,4 CoUlkeY
By: Larry CollistBr (Nov 26, 2024 10:43 CST)
Senior Assistant City Attorney
Contract Authorization M&C 23-0713 City
Ordinance No. 2640-09-2023 (09/12/2023)
TARRANT COUNTY, TEXAS:
I
r
By:
Tim O'Hare
County Judge
Date: t, I l �
ATTEST:
By. �-
Name:
Deputy County CIerk
APPROVED AS TO FORM*:
By:
Name: Mark Kratovil
Assistant CDA
COURT ORDER #
*By law, the District Attorneys Office may only advise or approve contracts or legal documents on behalf of its
clients. It may not advise or approve a contract or legal document on behalf of other parties. Our view of this
document was conducted solely from the legal perspective of our client. Our approval of this document was offered
solely for the benefit of our client. Other parties should not rely on this approval and should seek review and approval
by their own respective attorney(s).
Tarrant County Participation Agreement
Veale Ranch TIRZ
Page 7
Exhibit A
ORDINANCE NO. 26420-03-2023
AN ORDINANCE DESICrNATING A CERTAIN GEOGRAPHIC
AREA WITHIN BOTH THE CORPORATE LIMITS AND
EXTRATERRITORIAL JURISDICTION OF THE CITY OF FORT
WORTH AS "TAX INCREMENT REINVESTMENT ZONE
NUMBER SIXTEEN, CITY OF FORT WORTH, 'TEXAS";
CREATING A BOARD OF DIRECTORS FOR 'mE ZONE;
PROVIDING THE EFFECT]VE AND TERMINATION DATES FOR
THE ZONE; ESTABLISHING A TAX INCREMENT FUND FOR
THE ZONE; AND CONTAINING O`I'IIFR MATTERS RELATED
TO THE ZONE.
WHEREAS, on August 22, 2023, the City Council of the City of Fort Worth, Texas
("City Council") adopted Resolution No. 5787-08-2023, accepting the filing of a petition
to create a new tax increment reinvestment zone from the owners of property constituting
at least fifty percent (50%) of the appraised value of the property hereinafter described, as
authorized by the Tax Increment Financing Act, codified at Chapter 311 of the Texas Tax
Code ("Code");
WHEREAS, the City Council desires to promote the development of lard in that
certain geographic area within both the corporate limits and extraterritorial jurisdiction of
the City, which is more specifically described in Exhibit "A" of this Ordinance ("Zone")
through the creation of a new reinvestment zone as authorized by and in accordance with
the Code;
WHEREAS, the City Council called a public hearing to receive public comments
on the creation of the `Lone;
WHEREAS, on September 1, 2023, notice of the public hearing was published in
a newspaper of general circulation in both the corporate limits and extraterritorial
jurisdiction of the City, which satisfies the requirement of Section 31 1.003(e) of the Code
that publication of the notice occur not later than the Seventh day before the date of the
public hearing
WHEREAS, the City has prepared preliminary project and financing plans for the
proposed Lone, as required by Section 31 1.003(b) of the Code ("Preliminary PIans"); and
WHEREAS, oil September 12, 2023, the City Council held a public hearing
regarding the creation of the Zone and its benefits to the City and to property in the Zone
and afforded a reasonable opportunity for (i) all interested persons to speak for or against
the creation of the Lone, its boundaries or the concept of tax increment financing and (ii)
owners of real property in the proposed 7.011c to protest inclusion of their property in the
Zone, as required by Sections 31 1.003(c) and (d) of the Code.
Ordinance Designating'fax Increment }reinvestment Zone Number Sixteen, Ordinance No. 26420-09-2023
City of Fort worth, "Texas Page ] of 16
NOW, THEREFORE, 13E IT ORDAINED I3Y THE CITY COUNCIL OF
TlJF CITY OF FORT WORTH, TEXAS:
SECTION I.
FINDINGS.
After reviewing all information before it regarding the establishment of the Zone
and after conducting a public hearing regarding the creation of the Zone and its benefits to
the City and to property in the Zone and affording a reasonable opportunity for (i) alI
interested persons to speak for or against the creation of the Zone, its boundaries or the
concept of tax increment financing and (ii) owners of real property in the proposed Zone
to protest inclusion of their property in the "Lone, 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 and incorporated by reference into the body of this Ordinance.
Therefore, the City has met the notice and procedural requirements
established by the Code far creation of a reinvestment zone under the Code.
1.2. The Lone consists of approx[mately 5,181.922 acres of land ("Property")
1.3. The creation of the Zone and the improvements therein will significantly
enhance the value of all of the taxable real property in the `bone and will be
of general benefit to the City.
I.4. The Property included in the Zone meets the criteria and requirements of
Section 311.005(a)(4) of the Code because the petition requesting the
designation of the Zone 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,
Texas, which are the counties in which the Property is located.
1.5. The development of the Property within the Gone will not occur solely
through private investment in the reasonably foreseeable future.
1.6. According to the most recent appraisal roll of the Property, the total
appraised value of all taxable real property in the Gone and in existing
reinvestment zones in the City does not exceed twenty-five percent (25%)
of the total appraised value of taxable real property in the City and ice
industrial districts created by the City, if any.
SECTION 2.
DESIGNATION OF NEW ZONE
The City Council hereby designates the Zone described in the boundary description
and depicted in the reap, both attached hereto as Exhibit "A" and made a part of this
Ordinance Designating Tax Increment Reinvestment Gone Number Sixteen, Ordinance No. 26420-09-2023
City of Fort Worth, Texas Page 2 of 16
Ordinance for- all purposes, as a reinvestment zone pursuant to and under Section
311.004(a)(4) of the Code. This reinvestment zone is ]mown as "Tax Increment
Reinvestment Tone Number Sixteen, City of Fort Worth, 'Texas."
SECTION 3.
ZONE BOARD OF DIRECTORS
A board of directors for the 'Lone ("Board") is hereby created. The Board consists
of nine (9) members who will serve liar terms of two (2) years each. The Board will consist
of the following rnernbers:
1.1 A member- of the state senate (or that person's authorized designee) in
whose district the Zone is located pursuant to Section 3I I.009(b) of the
Code.
1.2 A member of the state house of'representatives (or that person's authorized
designee) in whose district a Iarger portion of the Zone is located pursuant
to Section 31 1.0Q9(b) of the Code.
1.3 Each taxing unit other than the City that has approved the payment of all or
part of the tax increment produced by the unit into the tax increment fund
for the Zone may, but is not required to, appoint one (1) tnerober to the
Board.
1.4 After each taxing unit other• than the City designates to the City either• the
name of the member that the taxing unit wishes to appoint or the fact that
the taxing unit wishes to waive its right to appoint a member, the City
Council will appoint whatever number of members are necessary to fill the
remaining positions on the Board. Such members may be members of the
City Council.
SECTION 4.
TERM OF ZONE
The Zone takes effect immediately upon the adoption of this Ordinance and
terminate on the earlier of December 31, 2105 or an earlier termination date designated
by an ordinance adopted after the effective date of this Ordinance or (d) the date on which
all project costs, tax increment bonds and interest on those bonds have been paid or
otherwise satisfied in full. Revenue From the Zone will be collected and deposited over a
period of eight -two (82) years with the final year being solely dedicated to winding down
the Zone.
Ordinance DesignatingTax ]ncrernmit Reinvestment Zone Number Sixteen, Ordinance Na. 26420-09-2023
City of tort Worth, 'Texas Page 3 of 16
SECTION 5.
DETERMINATION OF TAX INCREMENT BASE
The tax increment base for the Zone, as defined by Section 31 1.012(c) of the Code,
is the total appraised value of all real property in the Zone taxable by a taxing unit as of
January 1, 2023, which is the year in which the Tone was designated as a reinvestment
zone.
SECTION C.
TAX INCREMENT FUND
A tax increment fund for the Zone ("TIF Fund") is hereby established. The TIF
Fund may be divided into additional accounts and sub -accounts authorized by resolution
or ordinance of the City Council. The TIF Fund consists of (i) the percentage of the tax
increment, as defined by Section 31 1.012(a) of the Code, that each. taxing tll�it which levies
real property taxes tit the Zone, other- than the City, has elected to dedicate to the TIF Fund
pursuant to an agreement with the City authorized by Section 31 1.013(f) of the Code, plus
(ii) the City's contribution of sixty-five percent (65%) of the City's tax increment, as
defined by Section 3I 1.012(a) of the Code, subject to any (1) escalations set forth in the
final pro.ject and financing plans and fort Worth City Secretary Contract Number 59003,
as it currently exists or may be amended from time -to -time ("CSC No. 59003"); and (ii)
thirty year term limitation for each phase of development as set forth in the final project
and financing plans and CSC 59003; and (iii) binding agrCement executed at any time by
the City that pledges an an1ount of legally available City funds whose calculation is based,
in whole or in part, on payment to or receipt by the City of any portion of such tax
increment. The T1F Fund will be rnalntained In an acC0Unt at the depository bank of the
City and secured in the manner prescribed by law for Texas cities. Revenues in the TIF
Fund shall be used solely in accordance with Section 31 1.014 of the Code.
SECTION 7.
TAX INCREMENT AGREEMENTS
Pursuant to the Code, the City Manager and City Attorney are hereby authorized to
execute and deliver, for and oil behalf of the City, tax increment agreements with taxing
units that levy real property taxes in the Zone.
SECTION 8.
SLVERABILITY
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 will remain in full force
and effect and shall not in any way be impaired or affected by such decision, opinion or
judgment.
Ordinance Designating Tax Increment Reinvestment "Lone Nrmiber Sixteen, Ordinance No. 26420-09-2023
City of Fort worth, Texas Page 4 of 16
SECTION ].
IMMEDIATE EFFECT
That this OrciInance shall Lake effect and is full Force and effect from and after its
adoption.
AND IT IS SO ORDAINED.
APPROVED AS TO DORM AND LEGALITY.
Uia
Tyler F. Wallach
Senior Assistant City Attorney
ADOPTED AND L-'FF ECI'IVE: Seotember 12. 2023
M&C: 23-0712
Al "F'EST.
lannette S. Goodall, City Secretary
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Ordinance Designating Tar; Increment Reinvestment Zone Number Sixteen, Ordinance No. 26424-09-2023
City of Fort Worth, 'Texas Page 5 of 16
EXHIBIT "A"
The Metes and Bounds Description of the lit -City Property
PM VeitIana Develo nor South LLC Pronertv f 153.952 Acres)
BEING A 191.349 ACRE TRACI' OF LAND SITUATED 1N THE ELIZABETH LANGSTON
SURVEY, ABSTRACT NO. 988, T14E T.F. ROGERS SURVEY, ABSTRACT NO. I357, THE
EDWARD TAYLOR SURVEY, ABSTRACT NO. 1560 AND THE D.T. FINLEY Si1RVFY,
ABSTRACT NO. I903, CITY OF FORT WORTH, TAI?RANT COUNTY, TEXAS AND BEING
PART OF A 1214.617 ACRE TRACT OF LAND CONVEYED TO JOHNNY HAMPTON (BUD)
VINSON 11 AND CHERYL R. VINSON, AS RECORDED IN COUNTY CLERK'S FILE NO.
D204159103, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS. SAID 19I.349
ACRE TRACT, WITH REFERENCE BEARING BASIS BEING GRID NORTH, TEXAS STATE
PLANE COORDINATES, NORTH CENTRAL ZONE, NAD83 (NAD83 (2011) EPOCH 201 Ob ,
DETERMINED BY GPS OBSERVATION, CALCULATED FROM DALLAS CORS ARP (PID-
DF8984) AND ARLINGTON RRP2 COBS ARP (P1D-DF5387), AND BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
COMMENCING ATA 112 INCH IRON ROD WITH CAP STAMPED "FULTON" FOUND FOR
THE SOUTHEAST CORNER OF A 117.198 ACRE TRACT OF LAND, CONVEYED TO PB
VENTANA 1, LLC., AS RECORDED IN COUNTY CLERIC'S FILE NO. D215129625, OFFICIAL
PUBLIC RECORDS, TARRANT COUNTY, TEXAS, THE SOUTHWEST CORNER OF THE
REMAINDER OF A 38.910 ACRE TRACT OF LAND CONVEYED TO SJ ROLLING HILLS
DEVELOPMENT, LP, AS RECORDED IN COUNTY CLERK'S FILE NO. D203176403,
OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS, 'I THE NORTHWEST CORNER OF
A 24.308 ACRE TRACT OF LAND CONVEYED TO TEXAS ELECTRIC SERVICE COMPANY,
AS RECORDER IN VOLUME 5428, PAGE 543, OFFICIAL PUBLIC RECORDS, TARRANT
COUNTY, TEXAS, SAID POINT BEING ON THE EAST LINE OF SAID 1214.617 ACRE TRACT,
THENCE, SOUTH 60 DEGREES 58 MINUTES 38 SECONDS WEST, OVER AND ACROSS SAID
I214.6I7 ACRE "TRACT AND ALONG THE SOUTH LINE OF SAID 117.198 ACRE TRACT, A
DISTANCE OF 1613.31 FEET TO A 5/8 INCH IRON ROD WITH CAP STAMPED "BURY"
FOUND FOR THE SOUTHWEST CORNER OF SAID 117.198 ACRE TRACT AND THE
SOUTHEAST CORNIER OF A 162.310 ACRE TRACT. OF LAND CONVEYED TO PD. LONG
TERM HOLD 1, LP, AS RECORDED IN COUNTY CLERK'S PILE NO. D215I29626, OFFICIAL
PUBLIC RECORDS, TARRANT COUNTY, TEXAS, SAID POINT BEING THE POINT O
BEGINNING;
TIdENCE, OVER AND ACROSS SAID 1214.617 ACRE TRACT, THE FOLLOWING COURSES
AND DISTANCES.
SOUTH 18 DEGREES 44 MINUTES 17 SECONDS EAST, A DISTANCE OF 304.90 FEET
TO A 518 INCH IRON ROD WIT14 YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
SOUTH 79 DEGREES 56 MINUTES 47 SECONDS EAST, A DISTANCE OF 36I.22 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPER " JACOBS" SET
FOR CORNER;
SOUTH 71 DEGREES 58 M[NUTES 13 SECONDS EAST, A DISTANCE OF 363.76 FEET
TO A 5181NCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED " JACOBS" SET
017420, 00000 i 14856.964 7.7783.0
Ordinance Designaling Tax increment Reinvestnictit Zone Number fifteen, Orclinancc No. 26420-09-2023
City of fort Worth, 'Texas Page 7 of 16
FOR CORNER AND THE BEGINNING: OF A NON -TANGENT CURVE TO THE LEFT
HAVING A CENTRAL ANGLE OF 22 DEGREES 29 MINUTES I5 SECONDS, A RADIUS
OF 510.00 FEET AND A LONG CHORD THAT BEARS SOUTH 50 DEGREES 13
MINUTES 04 SECONDS EAST, A DISTANCE OF 198.88 FEET;
ALONG SAID NON-TANGENTCURVE TO THE LEFT, AN ARC DISTANCE OF 200.17
FEET TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS"
SET FOR CORNER;
SOUTH 33 DEGREES 15 MINUTES 17 SECONDS EAST, A DISTANCE OF 676.14 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
SOUTH 00 DEGREES 21 MINUTES 59 SECONDS EAST, A DISTANCE OF 984.33 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
SOUTH 89 DEGREES 38 MINUTES 01 SECONDS WEST, A DISTANCE OF 30.00 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC: CAP STAMPED "JACOBS" SET
FOR CORNER;
SOUTH 00 DEGREES 21 MINUTES 59 SECONDS EAST, A DISTANCE OF 100.00 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
SOUTH 89 DEGREES 38 MINUTES 0I SECONDS WEST, A DISTANCE OF 955.41 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
SOUTH 46 DEGREES 56 MINUTES 31 SECONDS WEST, A DISTANCE OF 1061.55
FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS"
SET FOR CORNER;
SOUTH 14 DEGREES 56 MINUTES 25 SECONDS WEST, A DISTANCE OF I22.85 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
SOUTH 32 DEGREES 45 MINUTES 42 SECONDS EAST, A DISTANCE OF IO2.90 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
SOUTH 60 DEGREES 24 MINUTES 29 SECONDS WEST, A DISTANCE OF 780.16 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
WEST, A DISTANCE OF 628.93 FEET TO A 518 INCH IRON ROD WITH YELLOW
PLASTIC CAP STAMPED "JACOBS" SE -I' FOR CORNER;
NORTH 07 DEGREES 05 MINUTES 06 SECONDS WEST, A DISTANCE OF 246.75 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
NORTH 24 DEGREES 54 MINUTES 16 SECONDS WEST, A DISTANCE, OF 164.11 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
0 17420,00000 1\4 856-9647.778 3.r3
Ordinance Designating Tax Increment Reinvestment 'Lane Number fifteen, Ordinance No. 26420-09-2023
City of Dart Worth, Texas Page 8 of 16
SOUTH 89 DEGREES 27 MINUTES 34 SECONDS WEST, A DISTANCE OF 444.34 FEET
TO A 518 INCH €RON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER ON THE WEST LINT: OF SAID €214.617 ACRE TRACT AND THE EAST
LINE OF A 3993.555 ACRE TRACT OF LAND CONVEYED TO IONA LAND L.P., ET
AL, AS RECORDED IN COUNTY CLERK'S FILE NO. D203 €45630, OFFICIAL PUBLIC
RECORDS, TARRANT COUNTY, TEXAS, FROM WHICH A I INCH IRON ROD FOUND
FOR A NORTHWEST ELL CORNER OF SAID 1214.617 ACRE TRACT AND A
SOUTHEAST CORNER OF SAID 3893.555 ACRE TRACT BEARS SOUTH 00 DEGREES
32 MINUTES 29 SECONDS EAST, A DISTANCE OF 722.55 FEET;
THENCE, NORTH 00 DEGREES 32 MINUTES 29 SECONDS WEST, ALONG SAID WEST LINE
OF 12I4.617 ACRE TRACT AND SAID EAST LINE OF 3893.555 ACRE TRACT, A DISTANCE
OF 1910.63 FEET TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE SOUTHWEST CORNER OF AFORESAID €62.310 ACRE TRACT;
THENCE, NORTH 60 DEGREES 58 MINUTES 38 SECONDS EAST, OVER AND ACROSS SAID
1214.617 ACRE TRACT AND ALONG THE SOUTH LINE OF SAID 162.310 ACRE TRACT, A
DISTANCE OF 2602.98 FEET TO THE POINT OF BEGINNING AND CONTAINING 191.349
ACRES OF LAND, MORE OR LESS.
SAVE AND EXCEPT:
BEING A 15.007 ACRE TRACT OF LAND SITUATED IN THE E. LANGSTON SURVEY,
ABSTRACT NO.999, T.F. ROGERS SURVEY, ABSTRACT NO. 1357, AND T14E E. TAYLOR
SURVEY, ABSTRACI- NO. 1560, CITY OF FORT WORTH, TARRANT COUNTY, TEXAS,
AND BEING PART OF A 191.349 ACRE 'TRACT OF LAND CONVEYED TO PB LONG
TERM HOLD 2, LP, AS RECORDED IN COUNTY CLERK'S FILE NO. D217119099,
OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS, SAID 15.007 ACRE TRACT,
WITH BEARING BASIS TIEING GRID NORTH, TEXAS STATE PLANE COORDINATES,
NORTH CENTRAL ZONE, NAD83 (NAD83 (2011) EPOCH 2O10), DETERMINED BY GPS
OBSERVATIONS, CALCULATED FROM DALLAS CORS ARP (PID-DF8984) AND
ARLINGTON RRP2 CORS ARP (PID-DF5387), BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNINGS AT A 518 INCH IRON ROD WITH PLASTIC CAP STAMPED "JACOBS"
FOUND FOR THE SOUTHEAST CORNER OF SAID 191.349 ACRE TRACT AND THE
SOUTHWEST CORNER OF A 21.204 ACRE TRACT OF LAND CONVEYED TO PB
VENTANA 1, LLC, AS RECORDED IN COUNTY CLERK'S FILE NO. D217I19095,
OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS, SAID POINT BEING ON THE
NORTH LINE OF A REMAINDER OF A 1214.617 ACRE TRACT OF LAND CONVEYED TO
JOHNNY HAMPTON (BUD) VINSON II AND CHERYL R. VINSON, AS RECORDED IN
COUNTY CLERK'S FILE NO. D204159103, OFFICIAL PUBLIC RECORDS, TARRANT
COUNTY, TEXAS, FROM WHICH A 518 INCH IRON ROD WITH PLASTIC CAP STAMPED
"JACOBS" FOUND FOR THE SOUTHEAST CORNER OF SAID 21.204 ACRE TRACT
BEARS NORTH 89 DEGREES 38 MINUTES 01 SECONDS EAST, A DISTANCE OF 130.00
FEET;
THENCE, SOUTH 89 DEGREES 38 MINUTES 01 SECONDS WEST, ALONG THE SOUTH
LINE OF SAID 191.349 ACRE TRACT, A DISTANCE OF 501.77 FEET TO A 5/8 INCH IRON
ROD WITH PLASTIC CAP STAMPED "LJA SURVEYING" SET FOR CORNER, FROM
017420.00000IX4856.9647-77810
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No, 26420-09-2023
City QI f ort Worth 1 exas Page 9 of'] 6
WHICH A 5/9 INCH IRON ROD WITH PLASTIC CAI' STAMPED "JACOBS" FOUND FOR
A SOUTHWEST CORNER OF SAID 191.349 ACRE TRACT BEARS SOUTH 89 DE UREES
38 MINUTES 01 SECONDS WEST, A DISTANCE OF 453.64 FEET;
THENCE, OVER AND ACROSS SAID 191.349 ACRE' TRACT,' THE FOLLOW ING COURSES
AND DISTANCES.
NORTH 00 DEGREES 21 MINUTES 59 SECONDS WEST, A DISTANCE OF 948.85 FEET
TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED "LJA SURVEYING" SET
FOR CORNER;
NORTH 29 DEGREES 01 MINUTES 22 SECONDS WEST, A DISTANCE OF 177.56 FEET
TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED "LJA SURVEYING" SET
FOR CORNER;
NORTH 15 DEGREES 58 MINUTES 38 SECONDS EAST, A DISTANCE OF I4.I4 FEET
TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED "LJA SURVEYING" SET
FOR CORNER;
NORTH 60 DEGREES 58 MINUTES 38 SECONDS EAST, A DISTANCE OF 195.61 Fl-ul'
TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED "LJA SURVEYING" SET
FOR CORNER AND THE BEGINNING OF A 'TANGENT CURVE TO THE LEFT
HAVING A CENTRAL ANGLE OF 23 DEGREES 54 MINUTES I I SECONDS, A RADIUS
OF 510.00 FEET AND A LONG CHORD THAT BEARS NORTH 49 DEGREES 0I
MINUTES 32 SECONDS EAST, A DISTANCE OF 211.23 FEET;
ALONG SAID TANGENT CURVE TO THE LEFT, AN ARC DISTANCE OF 212.77 FEET
TO A 5/9 INCH IRON Rat] WITH PLASTIC CAP STAMPED "LJA SURVEYING" SET
FOR CORNER;
SOUTH 35 DECREES 35 MINUTTES 54 SECONDS EAST, A DISTANCE OF 135.68 FEET
TO A 5/8 1NCII IRON ROD WITH PLASTIC CAP STAMPED "LJA SURVEYING" SET
I.OR CORNER;
SOUTH 45 DECREES 32 MINUTTES 52 SECONDS EAST, A DISTANCE. OF 47.10 FEET
TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED "LJA SURVEYING" SET
FOR CORNER;
SOUTH 54 DEGREES 46 MINUTES 13 SECONDS EAST, A DISTANCE OF 208.15 FEET
TO A 518 INCH IRON ROD WITH PLASTIC CAP STAMPED " 3ACOBS" FOUND AN
EXTERIOR ELL CORNER ON THE EAST LINE OF SAID I91.349 ACRE TRACT AND
AN INTERIOR ELL CORNER ON THE WEST LIME OF AFORESAID 21.204 ACRE
TRACT;
THENCE, ALONG SAID EAST LINE OF 191.349 ACRE TRACT AND SAID WEST LINE OF
21.204 ACRE TRACT, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 00 DEGREES 21 MINUTES 59 SECONDS EAST, A DISTANCE OF 984.33 FEET
TO A 5/8 INCH IRON ROD WITH PLASTIC CAI' STAMPED "JACOBS" FOUND FOR
CORNER;
017420, 000001 l4 8 55-9647-7793. v3
Ordinance Designating Tax Increment Reinvestment Zone Number fifteen, Ordinance No. 26420-09-2023
City of Fort Worth, Texas 11'age 10 of 16
SOUTH 89 DEGREES 38 MINUTES 01 SECONDS WEST, A DISTANCE OF 30.00 FEET
TO A 518 INCH IRON ROD WITH PLASTIC CAP STAMPED "JACOBS" FOUND FOR
CORNER;
SOUTH 00 DEGREES 21 MINUTES 59 SECONDS EAST, A DISTANCE OF 100,00 FEET
TO THE POINT OF BEGINNING AND CONTAINING A CALCULAT€ID AREA OF
15.007 ACRES, OR 653,715 SQUARE FEET OF LAND.
SAVE ANT) EXCEPT.
BEING A 16.826 ACRE TRACT OF LAND SITUATED IN THE T.F. ROGERS SURVEY,
ABSTRACT NO, 1357, THE E. TAYLOR SURVEY, ABSTRACT NO. 1560 AND THE D.T.
FINLEY SURVEY, ABSTRACT NO. I903, CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS AND BEING PART OF A €91.349 ACRE TRACT OF LAND CONVEYED TO PMB
VENTANA DEVELOPER SOUTTI LLC, AS RECORDED IN COUNTY CLERIC'S FILE NO,
D221026481, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS, SAID 16.826 ACR1~
TRACT, WITH BEARING BASIS BLING GRID NORTH, TEXAS STATE PLANE
COORDINATES, NORTH CENTRAL ZONE, NAD83 (NAD83 (2011) EPOCH 2O10),
DETERMINED BY GPS OBSERVATIONS, CALCULATED FROM DALLAS CORS ARP (PID-
DF8984) AND ARLINGTON RRP2 COBS ARP (PID•DF5387), BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS -
BE GINNING AT A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "I.JA
SURVEYING" SET FOR "ITIE SOUTH WESTCORNER OF LOT 1X, BLOCK 12 OF VENTANA,
PHASE 6A-1, AN ADDITION TO THE CITY OF FORT WORTH, AS RECORDED 1N COUNTY
CLERK'S FILE NO. D222166626, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS,
SAID POINT BEING ON THE SOUTH LINE OF SAID 19I.349 ACRE TRACT AND TI IE NORTII
LINE OF A 166,267 ACRE TRACT OF LAND CONVEYED TO SJ BRYANT IRVIN
COMMERCIAL DEVELOPMENT, LP, AS RECORDED IN COUNTY CLERK'S FILE NO.
D220341076, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS, FROM, WHICH A
518 INCH IRON ROD WITII YELLOW PLASTIC CAP STAMPED "LJA SURVEYING" SET FOR
THE SOUTHEAST CORNER OF SAID LOT IX, BLOCK 12 AND'rHE SOUTHWEST CORNER
OF LOT I, BLOCK 1 OF VENTANA ELEMENTARY SCHOOL, AN ADDITION TO THE CITY
OF FORT WORTH, AS RECORDED IN COUNTY CLERK'S FILE NO. D222169637, OFFICIAL
PUBLIC RECORDS, TARRANT COUNTY, TEXAS BEARS NOR`rH 89 DEGREES 38 MINUTES
0I SECONDS EAST, A DISTANCE OF 60,A0 FEET AND A SI8 INCH IRON ROD WITH
YELLOW PLASTIC CAP STAMPED "JACOBS" FOUND FOR THE SOUTHEAST CORNER OF
SAID LOT 1, BLOCK l BEARS NORTH 89 DEGREES 38 MINUTES 01 SECONDS EAST, A
DISTANCE OF 561.77 FEET;
THENCE, ALONG THE SAID SOUTH LINE OF 191.349 ACRE TRACT AND SAID NORTH
LINE OF 166.267 ACRE TRACT, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 89 DEGREES 38 MINUTES 01 SECONDS WEST, A DISTANCE OF 393.64 FEET
A 5181NCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" FOUND
FOR CORNER;
SOUTH 46 DEGREES 56 MINUTES 31 SECONDS WEST, A DISTANCE OF It 0.75 FEET
A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA SURVEYING"
SET FOR CORNER;
017420.0 00001 A 8 56-9647-7 783. r 3
Ordinance Designating Tax Increment Reinvestment Zone Number fifteen, Ordinance No. 26420-09-2023
City of Foil Worlh, Texas Page I I of 16
THENCE, OVER AND ACROSS SAID 19I.349 ACRE TRACT, THE FOLLOWING COURSES
AND DISTANCES:
NORTH 40 DEGREES 23 MINUTES 33 SECONDS WEST, A DISTANCE OF 489.60 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER AND THE BEGINN€NG OF A NON -TANGENT
CARVE TO THE RIGHT HAVING A CENTRAL ANGLE OF 06 DEGREES 50 MINUTES
54 SECONDS, A RADIUS OF 830.00 FEET AND A LONG CHORD THAT BEARS
NORTH 36 DEGREES 58 MINUTES 06 SECONDS WEST, A DISTANCE OF 99.15 FEET.,
ALONG SAID NON-TANGENTCURVE TO THE RIGHT, AN ARC DISTANCE OF 99.21
FEET TO A 519 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
NORTH 33 DEGREES 32 MINUTES 39 SECONDS WEST, A DISTANCE OF 83.56 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER ON THESOUTH LINE OF AFORESAID VENTANA,
PHASE 6A•1 AND THE BEGINNING OF A NON-TANGENTCURVE TO THE RIGHT
HAVING A CENTRAL ANGLE OF 00 DEGRF FS 27 MINUTES 30 SECONDS, A RADIUS
OF 3990L0 FEET AND A LONG CHORD THAT BEARS NORT14 56 DEGREES 32
MINUTES 24 SECONDS EAST, A DISTANCE OF 31.91 FEET;
ALONG SAID NON -TANGENT CURVE TO THE RIGHT, AN ARC DISTANCE OF 31.9 €
FEET TO A 5/8 INC]I IRON ROD WITH YELLOW PLASTIC CAI' STAMPED "LJA
SURVEYING" SET FOR CORNER;
THENCE, CONTINUING OVER AND ACROSS SAID 191.349 ACRE TRACT AND ALONG
SAID SOUTH LINE. OF VENTANA, PHASE 6A-1, THE FOLLOWINGCOURSES AND
DISTANCES -
NORTH 56 DEGREES 46 MINUTES 08 SECONDS EAST, A DISTANCE OF 42.63 FEET
TO A 5/8 INC€-F IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
NORTH 33 DEGREES 13 MINUTES 52 SECONDS WEST, A DISTANCE OF 50.00 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
SOUTH 56 DEGREES 46 MINUTES 08 SECONDS WEST, A DISTANCE OF 5.73 FEET
TO A 518 JNCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
NORTH 76 DEGREES 07 MINUTES 37 SECONDS WEST, A DISTANCE OF 13.61 DEFT
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC: CAP STAMPED "LJA
SURVEYING" SET FOR CORNER, SAID POINT BEING ON THE NORTHEAST RIGHT-
OF-WAY LINE OF MEGS CREEK ROAD (A 50' RIGHT-OF-WAY);
NORTH 29 DEGREES 01 MINUTES 22 SECONDS WEST, ALONG SAID NORTHEAST
RIGHT-OF-WAY LINE OF MEGS CREEK ROAD, A DISTANCE OF €10. € 9 FEET TO A
518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA SURVEYING"
SET FOR CORNER AT THE SOUTH END OF A CORNER CLIP ATTHE INTERSECTION
017420.00900i14856.9647.7783A
Ordinance € esignating Tax Increment Reinvestment 7.011C <tiUmber 1'if€CC13, Ordi1 ante NU. 26420-09-2023
City of € ort Worth, Texas Page 12 of 16
THENCE, OVER AND ACROSS SAID 19I.349 ACRE TRACT, THE FOLLOWING COURSES
AND DISTANCES:
NORTH 40 DEGREES 23 MINUTES 33 SECONDS WEST, A DISTANCE OF 489.60 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAI' STAMPED "LJA
SURVEYING" SET FOR CORNER AND THE BEGINNING OF A NONJANGENT
CURVE TO THE RIGHT HAVING A CENTRAL ANGLE OF 06 DEGREES 50 MINUTES
54 SECONDS, A RADIUS OF 830.00 FEET AND A LONG CHORD THAT BEARS
NORTH 36 DEGREES 58 MINUTES 06 SECONDS WEST, A DISTANCE OF 99,15 FEET;
ALONG SAID NON -TANGENT CURVE TO THE RIGHT, AN ARC DISTANCE OF 99.21
FEET TO A 5/8 INCH ]RON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
NORTH 33 DEGREES 32 MINUTES 39 SECONDS WEST, A DISTANCE OF 83.56 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC`. CAP STAMPED "LJA
SURVEYING" SET FOR CORNER ON THE SOUTH LINE OF AFORESAID VENTANA,
PHASE 6A•l AND THE BEGINNING OF A NON -TANGENT CURVE TO THE RIGHT
HAVING A CENTRAL ANGLE OF 00 DF.GRE.ES 27 MINUTES 30 SECONDS, A RADIUS
OF 3990.00 FEET' AND A LONG CHORD THAT BEARS NORTH 56 DEGREES 32
MINUTES 24 SECONDS BAST, A DISTANCE OF 31.91 FEET;
ALONG SAID NON -TANGENT CURVE, TO THE RIGHT, AN ARC DISTANCE OF 31.91
FEET TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "I.JA
SURVEYING" SET FOR CORNER;
THENCE, CONTINUING OVER AND ACROSS SAID I91.349 ACRE TRACT AND ALONG
SAID SOUTH LINE OF VENTANA, PHASE 6A-1, THE. FOLLOWINGCOURSES AND
DISTANCES -
NORTH i 56 DEGREES 46 MINUTES 08 SECONDS EAST, A DISTANCE OF 42.63 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "I.JA
SURVEYING" SET FOR CORNER;
NORTH 33 DEGREES 13 MINUTES 52 SECONDS WEST, A DISTANCE OF 50.00 FEE.,F
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
SOUTH 56 DEGREES 46 MINUTES 08 SECONDS WEST, A DISTANCE OF 5.73 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
NORTH 76 DEGREES 07 MINUTES 37 SECONDS WEST, A DISTANCE OF 13.61 FEET
TO A 5J8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER, SAID POINT BEING ON THE NORTHEAST RIGHT-
OF-WAY LINE OF MEGS CREEK ROAD (A 50' RIGHT-OF-WAY);
NORTH 29 DEGREES 01 MINUTES 22 SECONDS WEST, ALONG SAID NORTHEAST
RIGHT-OF-WAY LINE OF MEOS CREEK ROAD, A DISTANCE OF 110.19 FEET TO A
5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA SURVEYING"
SET FORCORNER AT THE SOUTH END OF A CORNER CLIP AT'T'HEINTERSECTION
017470-000001 A 8 56.9647-7 7 8 3 A
Ordinance Designating Tar. increment Reinvestment Zane Number Fifteen, Ordinance Na. 26420-09-2023
City 0f Forl worth ,Texas Paige 13 of 16
OF SAID NORTHFEAS'f RIGITF-OF-WAY LINE OF MEGS CREEK ROAD AND THE
SOUTHEAST RIGHT-OF-WAY LINE OF ORCHARD WAY (A 60' RIGHT-OF-WAY);
NORTI i 14 D1 GREFiS 09 MINUTES 29 SECONDS EAST, ALONG SAID CORNER CLIP,
A DISTANCE OF [4.58I'LLI'TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "LJA SURVEYING" SE"I' FOR CORNER AT THE NORTH END OF SAID
CORNER CLIP AND THE SFGINNING OF A NON -TANGENT CURVE TO THE RIGHT
IiAVING A CENTRAL ANGLE OF 03 DEGREES 34 MINUTES I 1 SECONDS, A RADIUS
OF 4170.00 FEE')' AND A LONG CHORD THAT BEARS NORTH 59 DEGREES 11
MINUTES 32 SECONDS EAST, A DISTANCE; OF 259.77 FEET;
THENCE, CONTINUING OVER AND ACROSS SAID 191.349 ACRE TRACT, ALONG SAID
SOUTH LINE OF VENTANA, PHASE 6A-1 AND ALONG SAID SOUTHEAST RIGHT-OF-WAY
LINE OF ORCHARD WAY, THE FOLLOWING COURSES AND DISTANCES:
ALONG SATDNON-TANGENT CURVE TO THE RIGHT, AN ARC DISTANCE OF 259.81
FEET' TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
NORTH 60 DEGREES 58 MINUTES 38 SECONDS EAST, A DISTANCE OF 682.76 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR THE NORTHWEST CORNER OF AFORESAID LOT IX,
BLOCK 12;
THENCE, CONTINUING OVER AND ACROSS SAID 191.349 ACRE TRACT AND ALONG THE
WEST LINE OF SAID LOT I X, BLOC:K 12, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 74 DEGREES 01 MINUTES 22 SECONDS FEAST, A DISTANCE OF 14.14 FEET
TO A 5/9 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
SOUTH 29 DEGREES 01 MINUTES 22 SECONDS EAST, A DISTANCE OF 82.72 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER AND THE BEGINNING; OF A TANGENT CURVE TO
THE RIGHT HAVING A CENTRAI. ANGLE OF 28 DEGREES 39 MINUTES 23
SECONDS, A RADIUS OF 410.00 FEET AND A LONG CHORD THAT BEARS SOUTH
14 DEGREES 41 MINUTES 41 SECONDS EAST, A DISTANCE OF 202.93 FEET;
ALONG SAID TANGENT CURVE TO THE RIGHT, AN ARC DISTANCE OF 205.06
FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
SOUTH 00 DEGREES 21 MINUTES 59 SECONDS EAST, A DISTANCE OF 828.80 FEET
TO THE POINT OF BEGINNING AND CONTAINING A CALCULATED AREA Of
16.826 ACRES, OR 732,925 SQUARE FRET OF LAND.
SAVE AND EXCEPT -
That 7.423 acre portion of a 7.607 acre tract of Iand [mown as Ventana, Phase 6A-1, an
addition to the City of Fort Worth, Tat -rant County, Texas, according to the Plat thereof
017420.00000 114856-9647-77810
Ordinance Designating Tax Increment Reinvestment Zone Number fifteen, Ordinance No. 26420-09-2023
City of fort Worth, Texas Page 14 of 16
recorded iit Document D222166626, Plat Records Tarrant County, Texas, lying within the
bounds of the above described 191.349 acre tract of land, SAVE AND EXCEPT that certain
1.859 acre private open space lot known as Lot 1 X, Block 12, of Vent ana, Phase, 6A-I, an
addition to the City of Fort Worth, Tauant County, Texas, according to the Plat thereof
recorded in Document D222I66626, Plat Rccords Tarrant County, Texas, for a net excepted
area of 5.564 acres of land.
PM Von tana SFR I,P Pranerty U6.826 Acres}
BEING A 16.826 ACRE TRACT OF LAND SITUATED IN THE TY. ROGERS SURVEY,
ABSTRACT NO, 1357, THE E. TAYLOR SURVEY, ABSTRACT NO. I560 AND THE D.T.
FINLEY SURVEY, ABSTRACT NO. 1903, CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS AND BEING PART OF A 19I349 ACRE: TRACT OF LAND CONVFsYRD TO PMB
VENTANA DEVELOPER SOUTH LLC, AS RECORDED IN COUNTY CLERK'S FILE NO.
D22102648I, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS. SAID 16.826 ACRE
TRACT, WITH BEARING BASIS BEING GRID NORTH, TEXAS STATE PLANE
COORDINATES, NORTH CENTRAL ZONE, NAD83 (NAD83 (2011) EPOCH 2O10),
DETERMINED BY GPS OBSERVATIONS, CALCULATED FROM DALLAS CARS ARP (PID-
DF8984) AND ARLINGTON RRP2 CORS ARP (PID-DF5387), BEING MORE PARTICULARLY
DLSCRI BED BY METES AND BOUNDS AS FOLLOWS:
BEGI11NING AT A 5/8 INCH IRON ROD WITFI YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR THE SOUTHWEST CORNER OF LOT IX, BLOCK 12 OF VENTANA,
PHASE 6A-I, AN ADDITION TO THE CITY OF FORT WORTH, AS RECORDED IN COUNTY
CLERK'S FILENO. D222166626, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS,
SAID POINT BEING ON THE SOUTH LINE OF SAID 191,349 ACRE TRACT AND THE NORTH
LINE OF A 166.267 ACRE 'TRACT OF LANE? CONVEYED TO SJ BRYANT IRVIN
COMMERCIAL DEVELOPMENT, LP, AS RECORDED IN COUNTY CLERK'S FILE NO.
D220341076, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS, FROM W141CII A
5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LIA SURVEYING" SET FOR
THE SOUTHEAST CORNER OF SAID LOT IX, BLOCK 12 AND THE SOUTHWEST CORNER
OF LOT I, BLOCK I OF VENTANA ELEMENTARY SCHOOL., AN ADDITION TO THE CITY
OF FORT WORTH, AS RECORDED IN COUNTY CLERK'S FILE NO. D222169637, OFFICIAL
PUBLIC RECORDS, TARRANTCOUNTY, TEXAS BEARS NORTH 89 DEGREES 38 MINUTES
01 SECONDS EAST, A DISTANCE OF 60.00 FEET AND A 5/8 INCH IRON ROD WITH
YELLOW PLASTIC CAP STAMPED "JACOBS" FOUND FOR THE SOUTHEAST CORNER OF
SAID LOT I, BLOCK I REARS NORTH 89 DLGREFS 38 MINUTES 01 SECONDS FAST, A
DISTANCE OF 561.77 FEET;
THENCE, ALONG THE SAID SOUTH LINE OF 191.349 ACRE TRACT AND SAID NORTH
LINE OF €66.267 ACRE TRACT, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 89 DEGREES 38 MINUTES 01 SECONDS WEST, A DISTANCE OF 393.64 FEET
A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" FOUND
FOR CORNER;
SOUTH 46 DEGREES 56 MINUTES 31 SECONDS WEST, A DISTANCE OF 110.75 FEET
A 5/9 INCH IRON ROE] WITH YELLOW PLASTIC CAI' STAMPED "LJA SURVEYING"
SET FOR CORNER;
017420.000001W856.9647.7793.0
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No. 2642€1-09-2023
City of fort Worth, Texas Page 15 of I6
THENCE, OVER AND ACROSS SAID 191.349 ACRE TRACT, THE FOLLOWING COURSES
AND DISTANCES:
NORTH 40 DEGREES 23 MINUTES 33 SECONDS WEST, A DISTANCE OF 489.60 FEET
TO A 518 INCH [RON ROD WITH YELLOW PLASTIC CAI' STAMPED "LJA
SURVEYING" SET FOR CORNER AND THE BEGINNING OF A NON -TANGENT
CURVE TO THE RIGHT HAVING A CENTRAL ANGLE: OF 06 DEGREES 50 MINUTES
54 SECONDS, A RADIUS OF 830.00 FEET AND A LONG CHORD THAT BEARS
NORTH 36 DEGREES 58 MINUTES 06 SECONDS WEST, A DISTANCE OF 99.15 FEET;
ALONG SAID NON -TANGENT CURVE TO THE RIGHT, AN ARC DISTANCE OF 99.21
FEET TO A 519 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
NORTH 33 DEGREES 32 MINUTES 39 SECONDS WEST, A DISTANCE OF 83.56 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER ON THE SOUTH LINE OF AFORESAID VENTANA,
P14ASE 6A-1 AND THL BE -GINNING OF A NON -TANGENT CURVES TO THE RIGHT
HAVING A CENTRAL ANGLE OF 00 DEGREES 27 MINUTES 30 SECONDS, A RADIUS
OF 3990.00 FEF,T AND A LONG CHORD THAT BEARS NORTH 56 DEGREES 32
MINUTES 24 SECONDS EAST, A DISTANCE OF 31.91 FEET;
ALONG SAID NON-TANGF,NT CARVE TO THE RIGHT, AN ARC DISTANCE OF 31.91
FEET TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
THENCE, CONTINUING OVER AND ACROSS SAID 191.349 ACRE TRACT AND ALONG
SAID SOUTH LINE OF VENTANA, PHASE 6A-1, THE FOLLOWINGCOURSES AND
DISTANCES:
NORTH 56 DEGREES 46 MINUTES 08 SECONDS EAST, A DISTANCE OF 42,63 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
NORTH 33 DEGREES €3 MINUTES 52 SECONDS WEST, A DISTANCE OF 50.00 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
SOUTH 56 DEGREES 46 MINUTES 08 SECONDS WEST, A DISTANCE OF 5.73 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAI' STAMPED "WA
SURVEYING" SET FOR CORNER;
NORTH 76 DEGREES 07 MINUTES 37 SECONDS WEST, A DISTANCE OF 13.61 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SE.T FOR CORNER, SAID POINT BEING ON THE NORTHEAST RIGHT-
OF-WAY LINE OF MEGS CREEK ROAD (A 50' RIGHT-OF-WAY);
NORTH 29 DEGREES 01 MINUTES 22 SECONDS WEST, ALONG SAID NORTHEAST
RIGHT-OF-WAY LINE OF MEGS CREEK ROAD, A DISTANCE OF 110.19 FEET TO A
518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA SURVEYING"
SET FOR CORNER AT THE SOUTH END OF A CORNER CLIP AT THE INTERSECTION
017420.00000IA856.9647-7783A
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No. 26420-09-2023
City of Fort Wordi, Texas Page 16 of 16
OF SAID NORTHEAST RIGHT-OF-WAY LINE OF MEGS CREEK ROAD AND THE
SOUTHEAST RIGHT-OF-WAY LINE OF ORCHARD WAY (A 60' RIGIIT-OF-WAY);
NORTH 14 DEGREES 09 MINUTES 29 SECONDS EAST, ALONG SAID CORNER CLIP,
A DISTANCEOF 14.58 FEET TO A 518 INCH f RON ROD WITH YELLOW PLASTIC CAP
STAMPED "LJA SURVEYING" SET FOR CORNER A'I' THE NORTH END OF SAID
CORNER CLIP AND THE BEGINNING OF A NON -TANGENT CURVE TO THE RIGHT
HAVING A CENTRAL ANGLE OF 03 DEGREES 34 MINUI'I S I 1 SECONDS, A RADIUS
OF 4170.00 FEET AND A LONG CHORD THAT BEARS NORTH 59 DEGREES i I
MINUTES 32 SECONDS EAST, A DISTANCE OF 259.77 FEET;
THENCE, CONTINUING OVER AND ACROSS SAID 191.349 ACRE TRACT, ALONG SAID
SOUTf I LINE OF VENTANA, PHASE 6A•1 AND ALONG SAID SOUTHEAST RIGHT-OF-WAY
LINE OF ORCHARD WAY, THE FOLLOWING COURSES AND DISTANCES.
ALONG SAIDNON•TANGENT CURVE TO THE RIGHT, AN ARC DISTANCE OF 259.81
FEET TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "I.JA
SURVEYING" SET FOR CORNER;
NORTH 60 DEGREES 58 MINUTES 38 SECONDS EAST, A DISTANCE OF 682,76 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "I.JA
SURVEYING" SET COR THE NORTHWEST CORNER OF AFORESAID LOT IX,
BLOCK 12;
THENCE, CONTINUING OVER AND ACROSS SAID 191,349 ACRE TRACT AND ALONG THE
WESTLINE OF SAID LOT IX, BLOCK 12,THE FOLLOWING COURSES AND DISTANCES:
SOUTH 74 DEGREES 01 MINUTES 22 SECONDS EAST, A DISTANCE. OF N. W FEET
TO A 5/9 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
SOUTH 29 DEGREES 01 MINUTES 22 SECONDS EAST, A DISTANCE OF 82.72 FEET
TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAI STAMPED "LJA
SURVEYING" SET FOR CORNER AND THE BEGINNING OF A TANGENT CURVE TO
THE RIGHT HAVING A CENTRAL ANGLE OF 28 DEGREES 39 MINUTES 23
SECONDS, A RADIUS OF 410,00 FEET AND A LONG CHORD THAT BEARS SOUTH
14 DEGREES 41 MINUTES 41 SECONDS EAST, A DISTANCE OF 202.93 FEET;
ALONG SAID TANGENT CARVE TO THE RIGHT, AN ARC DISTANCE OF 205.06
FEET' TO A 518 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "LJA
SURVEYING" SET FOR CORNER;
SOUTHH 00 DEGREES 21 MINUTES 59 SECONDS EAST, A DISTANCE OF 928.80 FEET
TO THE POINT OF BEGINNING AND CONTAINING A CALCULATED AREA OF
16.826 ACRES, OR 732,925 SQUARE. FEET OF LAND.
TRT Land Investors LLC Property (58.603 Acres)
017420,000001 M 56-9647-7 783.0
Ordinance Designating Tax Increment Reinvestment Gone Number fifteen, Oi-dinance No. 26420-09-2023
City of fart Worth, Texas Page 17 of 16
BEING 58.603 ACRES OF LAND SITUATED IN THE DAVID 1-1. DIXON SURVEY, ABSTRACT
NO, 442, G.H. & H. RR. CO. SURVEY, ABSTRACT NO. 623, D.T. FINLEY SURVEY,
ABSTRACT NO. 1900, AND THE NATHAN PROCTOR SURVEY, ABSTRACT NO. 1229,
TARRANT COUNTY, TEXAS, AND BEING A PORTION OF A -TRACT OF LAND DESCRIBED
TO TRT LAND INVESTORS, I.LC AS RECORDED IN COUNTY CLERKS FILE NO.
D221245221, OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY T XAS, AND BwN0
MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 518-INCII IRON ROD POUND FOR THE NORTHEAST CORNER OF SAID
TRT LAND TRACT ON THE WESTERLY RIGHT-OF-WAY LINE OF R.M. HIGHWAY NO.2871
(A VARIABLE WIDTH RIGHT-OF-WAY) FOR THE BEGINNING OF A CURVE TO THE LIFT
I3AV ING A RADIUS OF 2416.83 FEET AND A CHORD TIIAT BEARS SOU'T I1 1 I°35'04" EAST,
945.85 FEET;
THENCE WITH SAID WESTERLY RIGHT-OF-WAY LINE AND SAID CURVE TO THE LEFT,
TI.IROUGH A CENTRAL ANGLE OF 22034'08", AN ARC -DISTANCE OF 951.99 FEET TO A
1/2-INCH CAPI'ED IRON ROD STAMPED "LANDES ASSOCIATES" FOUND FOR THE
NORTHERNMOST CORNER OF LOT I, BLOCK 1, BENBROOK CHRISTIAN FELLOWSHIP
SUBDIVISION, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS BY PLATRECORDED IN COUNTY CLERK FILE NO. D205347812 OF SAID OFFICIAL
PUBLIC RECORDS;
THENCE WITH THE NORTHWESTERLY LINE OF SAID BENBROOK CHRISTIAN
FELLOWSHIP SUBDIVISION, TIIF.. FOLLOWING COURSES AND DISTANCES:
SOUTH 64027'52" WEST, A DISTANCE OF 475.19 FEET TO A 1/2-INCH IRON ROD
FOUND;
SOUTH 47056'03" WEST, A DISTANCE OF 22I.98 FEET TO A 112-INCI-I CAPPED IRON
ROD STAMPED "WIER ASSOCIATES" FOUND;
SOUTH 31020'39" WEST, A DISTANCE OF 625.38 FEET TO A 1/2-INCH CAPPED IRON
ROD STAMPED "WIER ASSOCIATES" FOUND FOR THE SOUTHWEST CORNER OF
SAID BENBROOK CHRISTIAN FELLOWSHIP SUBDIVISION ON THE NORTH LINE
OF LOT 1, BLOCK I, BENBROOK WATER AND SEWER AUTHORITY TANK SITE, AN
ADDITION TO THE CITY OF BENBROOK, TARRANT COUNTY, TEXAS BY PLAT
RECORDED IN CABINET A, SLIDE 4324 OF SAID OFFICIAL PUBLIC RECORDS;
THENCE SOUTH 89°38'34" WEST, WITH SAID NORTH LINE, A DISTANCE OF 597.69 FEET
TO A 518-INCH IRON ROD FOUND FOR THE NORTHWEST CORNER OF SAID BENBROOK
WATER AND SEWER AUTHORITY TANK SITE;
THENCE SOUTH 01036'11" WFST, WITH THE WEST LINE OF SAID BENBROOK WATER
AND SEWER AUTHORITY TANK SITE, A DISTANCE OF 8.87 FEET TO A 112-1NC14 IRON
ROD FOUND FOR THE NORTHEAST CORNER OF LOT 31X, BLOCK 8, VENTANA, AN
ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, AS SHOWN BY
0 11420-0 0000 [A 85&9647.7 783A
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No. 26424-09-2023
City o1-F01-1 Worth"I'mis Page 18 of 16
PLAT RECORDED IN COUNTY CLERIC FILL, NO. D217078339 OF SAID OFFICIAL PUBLIC
RECORDS;
TI IENCE SOUTH 89026'43" WEST, W1T1.1 T iEs NORTH LINE OF SAID VENTANA ADDITION,
A DISTANCE OF 649,00 FEET;
THENCE OVER AND ACROSS SAID 'I'RT LAND TRACT, THE FOLLOWING COURSES AND
DISTANCES;
NORTH 01 022'48" WEST, A DISTANCE OF 888.51 FEET;
NOR'1'I189016'44" EAST, A DISTANCE OF 669.38 FEET;
NORTH 00°2['24" EAST, A DISTANCE OF 1119.32 FEET TO THE' NORTII LINE OF
SA[D TRT LAND TRACT;
THENCE SOUTH 82007'07" EAST, WITH SAID NORTH LINE, A DISTANCE OF 1333.53 FEET
TO ]'HE POINT OF BEGINNING AND CONTAINING A CALCULATED AREA 64.680 ACRES
(2,817,481 SQUARE FEET) SAVE AND EXCEPTTHAT 6.077 ACRES TI1AT LIES WITHIN
VEALE RANCH PARKWAY (A 110-FOOT-WIDE RIGHT-OF-WAY) AS DEDICATED BY
DOCUMENT RECORDED 1N COUNTY CLERK FILE NO. D217021024 OF SAID OFFICIAL
PUBLIC RECORDS FOR A NET CALCULATED AREA OF 58.603 ACRES (2,552,781 SQUARE
FEET) OF LAND.
PMB Rolline'V South band LP Pronerty (710.369 Acres/,
To -act 1 (544.102Acres)r
Being a 544,102 acre tract in the T. Finley Survey, Abstract No. 1878, T.F. Rogers Survey, Abstract
No. 1357, T&NO RR CO Survey, Abstract No. 1565, D: ['. Finley Survey, Abstract No. 1901, in
Tarrant County, Texas, being the rcinaindcr portion of a called I,214.6I acre tract described in
instrument to Johnny Hampton (Bud) Vinson 11 & Cheryl Vinson, recorded in Clerk Fife No.
D204159103 Official Public Records, Tarrant County, Texas, (O.P.R.T.C.T.) said 544.102 acre tract
being s;lore particularly described by metes and hounds as follows:
Bearings, Distances, and/or Areas derived From GLASS observations performed by Texas Surveying,
Inc. and reflect N.A.D. 1983, Texas State Plane Coordinate System, North Central Zone 4202. (Grid)
(Grid acreage is 543.972, surface acreage calculated using scale factor of 1.00012).
BEGINNING at a found I" iron rod in the north right-of-way of U.S. 11ighway 377 South, variable
width, for the southeast corner of Lot 10, Block 35, Beira Flora, Phase 10, said subdivision plat
recorded in Clerk File No, D221350274, Plat Records Tarrant County, Texas (P.R.T.C.T.), being the
mosL southerly southwest corner of the herein described 544.102 acre tract;
THENCE North 410 59' 43" West, 999.70 feet, to a found 7/8" iron rod, for the north corner of Lot 6
and Lot 7, Block 35 of said Phase 10 Plat, being and interior corner of the herein described 544.102
acre tract;
017470.00000I \4856-964 7-7783.v 3
Ordinance Designating Tax Increment Reinvesiment Zone Number fifteen, Ordinance No. 26420-09-2023
City of Dort Worth, 'Texas Page 19 of 16
THENCE South 470 59' 05" West, 583.31 feet, to a found 1/2" capped iron rod, on the north line of
Lot 1, Block 35, 1361a Flora, Phase 9, said subdivision plat recorded in Clerk Pile No. D2211 I5287,
P.R. I'.C: f., being an angle corner of the herein described 544.102 acre tract;
1I1CNCE South 99' 27' 40" West, 3,523.32 feet, to a found 1" iron rod, on the east right-of-way of
]Jean Ranch Road, 55 foot wide, as shown on plat of Bel€a flora Phase 7, D216064985, P.R.P.C.T.,
for the northwest corner of a 5 foot wide right-of-way dedication ofsaid Phase 9 plat, being the most
westerly southwest corner of the herein described 544.102 acre tract;
THBNCr North 00° 32' 42" West, w 635.68 feet, pass the northeast corner of said Phasc 7 and the
southeast corner of a called 3,590.912 acre tmut being described in instrument to TRT Land Investors
LLC, recorded in Clerk File No. D221245221, O.P.R. I'.C.T., for a total distance of4,191.61 feet, to a
found I "iron rod, for an interior corner of said 3,590.912 acre tract, being the most westerly northwest
corner of the herein described 544.102 acre tract;
'MENcr North 890 27' 33" Cast, 3,179.57 feet, to a found 1" n'on rod, for a southeast corner of said
3,590.912 acre tract, being an interior corner of the herein described 544.102 acre tract;
THENCE North 000 31' 29" West, 722.61 feet, witty an east tine of said 3,590.912 acre tract, to a found
5/8" capped iron rod, for a southwest corner of a 191.349 acre tract described in instrument to PMB
Ventana Devctoper South LLC, recorded in Clerk Fife No. D221026481, 0.P.R.T.C.T., being the most
northerly northwest corner of the herein described 544.102 acre tract;
TIIENCE with the south line of said 191.349 acre tract the following 5 courses and distances
North 89° 28' 43" East, 444.30 feet to a found 5/8" capped Iron rod, for a northeast corner of
the Herein described 544.102 acre tract;
South 24° 55' 44" East, 164.18 feet, to a found 5/8" iron rod, for an angle coiner of the herein
described 544.102 acre tract;
South 07° 04' 50" Cast, 246.67 feet, to a found 5/8" capped iron rod, for an interior corner of
the herein described 544.102 acre tract;
North 89' 59' 55" East, 628.69 feet, to a found 5/8" iron rod, for an angle corner of the herein
described 544.102 acre tract;
North Or 24' 17" East, 780.09 feet, to a found 5/8" capped iron rocs, for a southeast corner of
said 191.349 acre tract, for an angle corner of a called 166.267 acre tract described in
instrument to S3 Bryant Irvin Commercial Development 1Y, recorded in Clerk Pile No.
D220341076 O.P.R.T.C.T„ being the roost easterly northeast corner of the herein described
544.102 acre tract;
THENCE with the west line of said 166.267 acre tract the following 6 courses and distances:
South I I° 53' I3" East, 682.99 Feet, to a found 5/8" capped iron rod, for an angle corner of the
herein described 544.102 acre tract;
017420,000001A856.9647.7783A
Ordinance Designating Tax Increment Reinvestment Zone lNumber Hfteen, Ordinance No. 26420-09-2023
City of Fort Worth, 'Texas Page 20 of l ti
South 18' 04'36" East, 942.41 feet, to a round 518" capped iron rod, for an angle corner of the
herein described 544.102 acre tract;
South 04' 52' 20" Fast, 1,128.95 feet, to a round 518" capped iron rod, for an angle corner of
the herein described 544.102 acre tract;
South 08' 00' 46" West, 448.73 feet, to a found 5/8" capped iron rod, for an angle corner of
the herein described 544.102 acre tract;
South 46' 59' 45" West, 468.39 feet, to a found 518" iron rod, for an interior corner of the
herein described 543.972 acre tract;
South 42' 39' 27" Bast, 1,018.66 feet, to a found 518 iron rod on the north tight -of -way of said
U.S. Highway 377 South, for the southwest corner of said 166.267 acre tract, being tic most
southerly
southeast corner of the herein describes! 544.102 acre tract;
ITTFNCE South 47' 58' 02" West, 1,578.66 feet, with the notch right-of-way of said U.S. Highway
377 South, to the POINT OF BEGINNING and containing 544.102 acres.
7'trrel2 (166.267Acjeaj:
BEING THAT CERTAIN TRACT OF LAND SITUATED IN THE T. & N.O. R.R. COMPANY
SURVEY, ABSTRACT NUMBER 1565, THE G.H. & H. R.R. COMPANY SURVEY, ABSTRACT
NUMBER 624, 111E T,D. FINLEY SURVEY, ABSTRACT NUMBER I901, TI-IF T.r. ROGERS
SURVEY, ABSTRACT NUMBER 1357 AND THE ELIZA13ETI-I LAU014STON SURVEY,
ABSTRACT NUMBER 988, TARRANT COUNTY, TEXAS AND BEING ALL OF THAT TRACT
OF 1,ANDDESCRIBED BY DEED TO S3 BRYANT IRVIN COMMERCIAL DEVELOPMENT', LP,
RECORDED 1N INSTRUMENT NUMBER D204I59103, COUNTY RECORDS, TARRANT
COUNTY, TEXAS AND BEING MORE PAR'I'1CULARLY DESCRIBED BY METES AND
BOUNDS AS FOLLOWS:
BE,OINNING AT A I INCH IRON ROD FOUND AT THE SOUTHEAST CORNER OF SAID S3
BRYANT IRVIN TRACT AND THE SOUTHWEST CORNER OF THAT TRACT OF LAND
DESCRIBED BY DEED TO FORT WORTH INDEPENDENT SCHOOL DISTIUCF, RECORDED
IN INSTRUMENT NUMBER D219257699, SAID COUNTY RECORDS, AND BEING IN THE
NORTH LINE OF U.S. HIGHWAY 377 SOUTH, (BENBROOK BOULEVARD) (A VARIABLE
WIDTH RIGHT-OF-WAY);
THENCE ALONG THE NORTH LINE OF SAID U.S. HIGHWAY 377 AS FOLLOWS:
S 47°29'38"W, 1223.57 FF EIT 1'O A I INCH IRON FOUND;
S 47058' €2"W, 198.52 FEET TO A 518 INCH IRON FOUND AT THE MOST SOUTHERLY
SOUTHWEST CORNER OF SAID SJ BRYANT IRVIN TRACT AND AN EAST LINE OF
A TRACT OF LAND DESCRIBED BY DEED TO JOHNNY HAMPTON (BUD) VINSON
Il AND CHERYL R. VINSON, RECORDED IN INSTRUMENT NUMBER D204159I03,
SAID COUNTY RECORDS;
017420,00000N856.9647.7783.v3
Ordinance Designating Tax Inercmcat Reinvestment Zone Number Fifteen, Ordinance No, 26420-09-2023
City of Dort Worth, 'Texas Page 21 of 16
THENCE ALONG THE COMMON LINE OF SAID SI BRYANT IRVIN AND VINSON TIUCTS
AS FOLLOWS:
N 42'39'25"W, 1018.88 ITET" I'O A 518 INCH IRON FOUND;
N 46059'45"E, 468.50 FEET TO A 5/8 INCH IRON WITH PLASTIC CAP STAMPED
"PELOTON" FOUND;
N 08600'48"E, 448.79 FEET TO A 518 INCH IRON WITH PLASTIC CAP STAMPED
"PIEI.OTON" FOUND;
N 04052'37"W, 1129.24 FEET TO A 5/8 INCH IRON WITH PLAS'CIC CAP STAMPED
"PELOTON" FOUND;
N 18*04'00"W, 942.35 FEET TO A 518 INCH IRON WITH PLASTIC CAP STAMPED
"PELOTON" POUND;
TIIENCE N I 1°53'46"W, 683.I2 FEET TO A 519 INCII IRON WITH PLASTIC CAP STAMPED
"PELOTON" FOUND IN THE SOUTH LINE OF THAT TRACT OF LAND DESCRIBED BY
DEED TO PMB VENTANA DEVELOPER SOUTH LLC, RECORDED IN INSTRUMENT
NUMBER D22I026481, SAID COUNTY RECORDS;
THENCE WITH TIME SOUTH LINE OF SAID PMB VENTANA TRACT" I'HE FOLLOWING
BEARINGS AND DISTANCES;
N 32�46' 13"W, 102.86 FEET TO A 518 INCH IRON FOUND;
N 14057' 15"E, 122.72 FEET TO A 518 INCH IRON FOUND;
N 46056'14"E, PASSING THE SOUrnwEST CORNER OF THAT TRACT OF LAND
DESCRIBED BY DEED TO PMB VENTANA SFR 1A RECORDED IN INSTRUMENT
NUMBER D221318474, SAID COUNTY RECORDS, CONTINUING IN ALL A
DISTANCE OF 1061.62 FEET TO A 5/9 INCH IRON WITH PLASTIC CAP STAMPED
"PELOTON" SE'C;
THENCE N 89038'04"E, ALONG THE SOUTH LINE OF SAID PMB VENTANA SFR TRACT,
PASSING ITS SOUTHEAST CORNER, PASSING A REMAINING SOUTHWEST AND
SOUTHEAST CORNER OF THATTRACT OF LAND DESCRIBED BY DEED TO PB LONG
TERM HOLD 2, LP, RECORDED 1N INSTRUMENT NUMBER D217119099, SAID COUNTY
RECORDS, PASSING THE SOUTHWESTCORNER OF T'HA'I T'RACI' OF LAND DESCRIBE€]
BY DEED TO FORT WORTH INDEPENDENT SCHOOL DISTRICT, RECORDED IN
INSTRUMENT NUMBER D219228097, SAID COUNTY RECORDS, CONTINUING IN ALL A
DISTANCE OF 1085.42 FEET TO A 518 INCH IRON WITH PLASTIC CAP STAMPED "JACOBS"
FOUND AT THE SOUTHEAST CORNER OF THAT TRACT OF LAND DESCRIBED BY DEED
TO PB VENTANA I, LLC, RECORDED 1N INSTRUMENT NUMBER D217119095, SAID
COUNTY RECORDS, BEING IN THE WEST LINE OF LOT 2, BLOCK A, WHITFSTONE GOLF
COURSE ADDITION, AN ADDITION TO THE CITY OF BENBROOK, TARRANT COUNTY,
TEXAS, ACCORDING TO THE PLAT RECORDED IN CABINET A, SLIDE 5082, SAID
COUNTY RECORDS;
017420.000001\4856.9647a783.c3
Ordinance Designating Tax Inerement Reinvestment Zone Numbcr Fifteen, Ordinance No. 26420-09-2023
Cily of Fort Worth, Texas Page 22 of 16
THENCE S. 00022'00"E, 4180.05 FELT, WITH THE COMMON LINE OF SAID SJ BRYAN1.
IRVIN TRACT AND SAID LOT 2, TO THE POINT OF BEGINNING AND CONTAINING
7,242,578 SQUARE FEET OR 166.267 ACRES OF LAND MORE OR LESS.
017420.0 00 0 0 F \4856-964 7.7983. a3
Ordinanec Designating Tax Increment Reinvestment "bone Number Fifteen, Ordinance No. 2G420-09-2023
City of fort Worth, Texas Page 23 of 16
The Metes and Rounds Description of the ICT3 Property
PMB 120 buid LP Pronerty (422.973 Acres)
Tract 1(18.47'6 Acres):
BEING A TRACT OF LAND SITUATED 1N THE HEIRS OF NATHAN PROCTOR SURVEY,
ABSTRACT NO. 1229, CITY OPFORT WORTH, TARRANT COUNTY, TEXAS, AND BEING A
PORTION OF THAT TRACT OF LAND DESCRIBED TO ROCKBROOK PARTNERSHIP, LTD.
BY DEED RECORDED IN COUNTY CLERK FILENO, D212104127 OF THE OFFICIAL PUBLIC
RECORDS OF TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS.
BEGINNING AT A 518.INCII IRON ROD SET WITH CAP STAMPED "L]A SURVEYING"
(HEREIN AFTER REFERRED TO AS A "518-INCH IRON ROD SET") ON THE EAST RIGHT-
OF-WAY LINE OF R.M. HIGHWAY NO.2971 (A VARIABLE-WID'14 RIGIIT-OF-WAY) FOR
THE SOUTHWEST CORNER OF A TRACT OF LAND DESCRIBED TO FORT WORTH
INDEPENDENT SCHOOL DISTRICT BY DEED RECORDED IN COUNTY CLERK FILE NO.
D219293163 OF SAID OFFICIAL PUBLIC RECORDS, FROM WHICH A 3-INCH METAL POST
FOUND FOR THE WESTERN -MOST SOUTHWEST CORNER OF SAID ROCKBROOIC TRACT
BEARS SOUTH 00020' I0" EAST, 452.00 FEET;
THENCE NORTH 89939'50" EAST, WITH THE SOUTH LINE OF SAID PORT WORTII
INDEPENDENT SCHOOL DISTRICT TRACT, A DISTANCE OF 653.00 FEET TO A 518-INCH
IRON ROD SET FOR THE SOUTHEAST CORNER OF SAME;
THENCE OVER AND ACROSS SAID ROCKBROOK. TRACT, THE FOLLOWING COURSES
AND DISTANCES:
SOUTH 00020' 10" EAST, A DISTANCE OF 15.09 FEET TO A 518-INCH IRON ROD SET;
NORTH 89°40' 18" EAST, A DISTANCE OF 564.89 FEET TO A 5/8-INCH IRON ROD SE"I'
FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 345.00
FEET AND A CHORD THAT BEARS SOUTH 83900-53" EAST, 87.84 FEET;
f WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 14037-38",
AN ARC -DISTANCE OF 88.08 FEET TO A 518-INCH IRON ROD SET FOR THE
BEGINNING OF A REVERSE CURVE TO THE LEFT HAVING A RADIUS OF 2,525.00
FEET AND A CHORD THAT BEARS SOUTH 14023'46" WEST, 572.22 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 13000'45",Aid
ARC -DISTANCE OF 573.45 FEET TO A 5/8-INCH IRON ROD SET;
SOUTH 07°53'24" WEST, A DISTANCE OF 176.83 FEET TO A 518-INCH IRON ROD SET
ON nm SOUTH LINF. OF SAID ROCKBROOK TRACT IN THE RIGHT-OF-WAY OF
ALEDO ROAD (A VARIABLE WIDTH RIGHT-OF-WAY);
TI-IENCENORTH 82043'59" WEST, ALONG SAID RIGHT-OF-WAY AND WITH SAID SOU'ri-i
LINE, A DISTANCE OF 1,044.56 FEET TO A 518-INCII IRON ROD SET;
017420A00001\4856.9647.7783.v3
Ordinance Designating'ITax Increment Reinvestment Zone Number Fifteen, Ordinance No. 26420-09-2023
City of Fort Worth, Texas Page 24 of 16
TI IENCE NORTH 00017'50" WEST, WITH THE WEST LINE OF SAID ROCKBROOK TRACT,
A DISTANCE OF 50.38 FEET TO A 5/8-INCH IRON ROD SET;
THENCENORTH 4I012-58" WEST, CONTINUING WITH SAID WEST LINE, A DISTANCE OF
151.04 FEET TO A 5/8-INCH IRON ROD SET ON THE EAST RIGHT-OF-WAY LINE OF SAID
R.M. HIGHWAY NO.2871;
THENCE NORTH 00020' I0" WEST, WITH SAID EAST RIGHT-OF-WAY LINE, A DISTANCE
OF 452.00 FHETTO THE POINT OF BEGINNING AND CONTAINING A CALCULATED AREA
OF 18.476 ACRES (804,827 SQ. FEET), OF LAND.
Trucf 2 (79.586Acres):
BEING A TRACT OF LAND SITUATED IN THE G.H.& H.R. RR. CO. SURVEY, ABSTRACT
NO.623, CITY OF FORT WORTH, TARRANT COUNTY,'I LXAS, AND BEING A PORTION OF
THAT TRACT OF LAND DESCIBED TO ROCKBROOK PARTNERSHIP, LTD. BY DEED
RECORDED 1N COUNTY CLERK FILE NO. D2I2104127 OF THE OFFICIAL PUBLIC
RECORDS OF TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 518-INCH IRON ROD SET WITH CAP STAMPED "LJA SURVEYING"
(HEREIN AFTER REFERRED TO AS A "518-INCH IRON ROD SET") ON THE FAST RIGHT-
OF-WAY LINE OF R.M. HIGHWAY NO.2871 (A VARIABLE -WIDTH RIG91'-OF-WAY), FROM
WHICH A 5J8-INCH IRON ROD FOUND FOR THE WESTERN -MOST NORTHWESTCORNER
OF SAID ROCKBROOK TRACT BEARS NORTH 00°2D' 10" WEST, 2250.34 FEET;
THENCE OVER AND ACROSS SAID ROCKBROOK TRACT, THE FOLLOWING COURSES
AND DISTANCES:
NORTH 89039'50" EAST, A DISTANCE OF 102.79 FEET TO A 5/8-INCH IRON ROD SET
FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 775.00
FEET AND A CHORD THAT BEARS SOUTH 87°23'47" EAST, 79.49 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 05-52'46",
AN ARC -DISTANCE OF 79.53 FEET TO A 5/8-INCH IRON ROD SET;
SOUTH 84027'24" EAST, A DISTANCE OF 354.00 FEET TO A 5/8-INCH IRON ROD SET
FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 775.00
FEET AND A CHORD THAT BEARS NORTH 86013'56" EAST, 250.78 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF IV37'20", AN
ARC -DISTANCE OF 251.89 FEET TO A 5/8-[NCH IRON ROD SET;
NORTH 76055' 16" EAST, A DISTANCE OF 132.30 FEET TO A 5/8-INCH [RON ROD
SET;
017420.000nD1U856-9647-7783.0
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City of bait Worth, Tcxas Page 25 of 16
SOUTH 13004'44" EAST', A DISTANCE OF I 12.28 FEET TO A 5/8-INCH IRON ROD SET
I -OR THE BEGINNING OF A CURVETO THE LEFT HAVING A RADIUS OF 1,775.00
FEET- AND A CHORD THAT BEARS SOUTH 17°40'43" EAST, 284.69 FEET;
WITH SAID CURVE 1'0 THE LEFT, THROUGH A CENTRAL ANGLE OF 09-11'58", AN
ARC -DISTANCE OF 285.00 FEET TO A 518-INCH IRON ROD SET;
NORTH 57039'49" EAST, A DISTANCE OF 25.40 FEET 1'0 A 518-INCH IRON ROD SET
FOR THE BEGINNING OF A NON -TANGENT' CURVC TO THP, LEFT HAVING A
RADIUS OF €,750.00 FEET AND A CHORD THAT BEARS SOUTH 2V24'58" EAST,
261.39 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 08-33,58", AN
ARC -DISTANCE OF 261.64 FEET TO A 5/9-INCH IRON ROD SET;
SOUTH 57039'49" WEST, A DISTANCE OF 375.64 FEETTO A 518-INCII IRON ROD SET
FOR THE BEGINNING OF A CURVE TO T14E RIGHT HAVING A RADIUS OF 275.00
FEET AND A CHORD THAT BEARS SOUTH 73008' 18" WEST, 146.75 FEET;
WITH SAID CURVE TO THE FLIGHT, THROUGH A CENTRAL ANGLE 01` 30°56'58",
AN ARC -DISTANCE OF 148.55 FEETTO A 5/8-INCH IRON ROD SET;
SOUTH 89036'29" WEST, A DISTANCE OF 47.53 FEETTO A 5/8-INCH IRON ROD SET;
SOUTH 00'20' 10" EAST, A DISTANCE OF 50.00 FEET TO A 518-INCH IRON ROD SET
FOR THE- NORTHEAST CORNER OF A TRACT OF LAND DESCRIBED TO FORT
WORTH INDEPENDENT SCHOOL DISTRICT BY DEED RECORDED IN COUNTY
CLERK FILE NO. D2I9293163 OF SAID OFFICIAL PUBLIC RECORDS;
THENCE. SOUTH 89039'50" WEST, WITH THE NORTH LINE. OF SAID FORT WORTH
INDFPF..NDFNT SCHOOL DISTRICT TRACT, A DISTANCE OF 653.00 FEET TO A 5/8-INCI4
IRON ROD SET ONTHE HE EAST RIGHT-OF-WAY LINE OF SAID R.M. HIGHWAY NO. 2971;
THENCE NORTH 00020'10" WEST, WITH SAID R€GH'1'-OF-WAY LINE, A DISTANCE OF
889.59 FFETTO THE POINTOF BEGINNING AND CONTAINING A CALCULATED AREA OF
19.586 ACRES (853,160 SQ. FEET), OF LAND.
Two 3 (126. 467 Acres):
BEING A TRACT OF LAND SITUATED IN THE JAMES F. ELLIOT SURVEY, ABSTRACT NO.
494, MCKINNEY & WILLIAMS SURVEY, ABSTRACT NO. I117; DAN H. DIXON SURVEY,
ABSTRACT NO. 442; HEIRS OF NATHAN PROCTOR SURVEY, ABSTRACT NO. 1229 AND
THE G.H.& H.R. RR. CO. SURVEY, ABSTRACT NO.623, CITY OF FORT WORTH, TARRANT
COUNTY, TEXAS, AND BEING A PORTION OF THAT TRACT OF LAND DESCRIBED TO
ROCKBROOK PARTNERSHIP, LTD. BY DEED RECORDED IN COUNTY CLERK FILE NO.
D212104127 OF THE OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY, TEXAS, AND
BEING MORE I'AR'C€CULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
0174 OM 000114856.9647-7783A
Ordinance (Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No. 26428-09-2023
City ofForl Worth, Texas Page 26 of 16
BEGINNING AT A 518-INCTI IRON ROD SET WIT11 CAP STAMPED "LJA SURVEYING"
(HFRFJN AFTER REFERREDTO AS A "518-INCH IRON ROD SL'•'I"') IN TIIE RIGHT-OF-WAY
OF ALEDO ROAD (A VARIABLE W]URT RIGHT•OF-WAY} FOIL THE SOUTH COMMON
CORNER OF SAID ROCKBROOK TRACT AND A TRACT OF LAND DESCRIBED TO H V
LUDTE PARTNERSHIP, LTD. BY DEED RECORDED IN COUNTY CLEIM FIIA-: NO.
D207134657 OF SAID OFFICIAL PUBLIC RECORDS;
THENCE WITH THE SOUTH LINE OF SAID ROCKBROOK TRACT, GENERALLY ALONG
THE RIGI IT -OF -WAY OF ALEDO ROAD,'1 HE FOLLOWING COURSES AND DWrANCES:
SOUTH 81016'01" WEST, A DISTANCE OF 166.41 FEET TO A 5/8-INCH IRON ROD
SET;
SOUTH 83016'0€" WEST, A DISTANCE OF 199.79 FEET TO A 5/8-INCH IRON ROD
SET;
SOUTH 85016'01" WEST, A DISTANCE OF 199.79 FEET TO A 518-INCH IRON ROD
SET;
SOUTH 8703I'41" WEST, A DISTANCE OF 199.79 FEET TO A 5/8-INCH IRON ROD
SET;
THENCE OVER AND ACROSS SAID ROCKBROOK TRACT, THE FOLLOWING COURSES
AND DISTANCES:
NORTH, A DISTANCE OF 430.12 FEET TO A 518-INCH IRON ROD SET;
NORTH 61°30'00" WEST, A DISTANCE OF 820.33 FEET TO A 5/8-INCH IRON ROD
SET;
NORTH 01020'58" EAST, A DISTANCE OF 129.06 FEET TO A 518-INCH IRON ROD
SET;
NORTH 20052'18" WEST, A DISTANCE OF 655.52 FEET TO A 518-INCH IRON ROD
SET;
SOUTH 5I °24'33" WEST, A DISTANCE OF 49.40 FEET TO A 518-INCH IRON ROD SET;
SOUTH 50030'38" WEST, A DISTANCE OF 140.39 FEET TO A 5/8-INCH IRON ROD
SET;
SOUTH 50030'38" WEST, A DISTANCE OF 206.25 FEETTO A 518-INCI.1 IRON ROD
SET;
NORTH 43015'38" WEST, A DISTANCE OF 246.81 FEET TO A 518-INC14 IRON ROD
SET FOR THE BEGINNING OF A CURVE TO THE LEFT, HAVING A RADIUS OF
1,145.00 FEET, AND A CHORD TRKI' BEARS NORTH 48°32'49" WEST, 211.00 FEET;
0114MOWN 1\4856.9647.7783.0
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No. 26420-09-2023
City of Fort Worth, 'Texas Page 27 of 16
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 10°34'24", AN
ARC-DISTANCF OF 211.30 FEET TO A 5/8-INCH IRON ROD SET;
SOUTH 36009'59" WEST, A DISTANCE OF 95.00 FEET TO A 5/8-INCH IRON ROT] SET
FOR THr BEGIWNG OF A NON -TANGENT CURVE TO THE LEFT, HAVING A
RADIUS OF 1,050.00 FEET, AND A CHORD THAT BEARS NORTH 54-42'40" WEST,
32.1 d FEET;
WITH SAID CURVETO T'HE LEFT, THROUGH A CENTRAL ANGLE OF 0I*45' 18", AN
ARC-DISTANCL OF 32.16 FELT TO A 5/8-INCH IRON ROD SET';
NORT14 55035'19" WEST, A DISTANCE OF 325.90 FISLT TO A 519-INCH IRON ROD
SET;
NORTH 55035' 19" WEST, A DISTANCE OF 111.70 FEET TO A 5/8-INCH IRON ROD
SET FOR THE BEGINNING OF A CARVE TO TFIE RIGI•IT, ,HAVING A RADIUS OF
1,675.00 FEET, AND A CHORD THAT BEARS NORTH 34°20'02" WEST, 1,214.43 FEET
WITH SAID CURVE TO THE RIG] IT, THROUGH A CENTRAL ANGLE OF 42030'35",
AN ARC -DISTANCE OF 1,242.74 FEET TO A 518-INCH IRON ROD SET,
NORTH 13604'44" WEST, A DISTANCE OF 52.46 FEET TO A 518-INCH IRON ROD SET;
EAST, A DISTANCE OF 3,385.27 FEET TO A 5/8-INCH IRON ROD SET ON THE
COMMON LINE OF SAID ROCKBROOK AND H V LUDIE TRACTS;
THENCE WITH SAID COMMON LINE,, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 28031'58" EAST, A DISTANCE OF 927.45 FEETTO A 5/8-INCH IRON ROD SET;
SOUTH 61028'02" WEST, A DISTANCE OF 1,248.67 FEET TO A 5/9-INCH IRON ROD
SET;
SOUTH 2803I'58" EAST, A DISTANCE OF I,591.35 FEET TO THE POINT OF
BEGINNING AND CONTAINING A CALCULATED AREA OF 125.467 ACRES
(5,508,913 SQ. FEET), OF LAND.
Traci 4 (258.444 Acres):
BEING A TRACT OF LAND SITUATED IN THE MCKINNEY &s WILLIAMS SURVEY,
ABSTRACT NO. I 117; JAMES F. ELLIOT SURVEY, ABSTRACTNO.495 AND THE G.H.& I-I.R.
RR. CO. SURVEY, ABSTRACT NO. 623, CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS, AND BEING ALL THAT TRACT OF LAND DESCRIBED TO ROCKBROOK
PARTNERSHIP, LTD. BY DEED RECORDED IN COUNTY CLERIC FILE NO. D212104127 OF
THE OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY, TEXAS, AND BEING MORE
PARTICULARLY DESCRIBED 13Y METES AND BOUNDS AS FOLLOWS:
017420.00001) R4856•9647-7783.0
Ordinance Designating l'ax Increment Reinvestment 'Lone Number Fificen, Ordinance No. 26420-09-2023
City of Fort Worth, Texas Page 28 of 16
BEGINNING AT A 5/8-INCH IRON ROD FOUND ON THE EAST FIGHT -OF -WAY LINE OF
R.M. HIGHWAY NO. 2871 (A VARIABLE-WID'1'fi RIGHT-OF-WAY) FOR THE WESTLRN-
MOS3' NORTH WEST CORNER OF SAID ROCKBROOK TRACT;
THENCE NORTH 37050'50" EASI', WITH SAID EAST RIGHT-OF-WAY LINE, A DISTANCE
OF 190.19 FEET TO A 5/8-INCH IRON ROD FOUND ON THE SOUTH RIGHT-OF-WAY LINE
OFINTERSTATE" HIGHWAY NO. 20 (A VARIABLE -WIDTH RIGHT-OF-WAY);
THENCE WITH SAID SOUTH RIGHT-OF•WAY LINE, THE FOLLOWING COURSES AND
DISTANCES:
NORTH 84023' 12" EAST, A DISTANCE OF 479.03 FEET TO A TXDOT MONUMENT
FOUND;
NORTH 79042' 12" EAST, A DISTANCE OF 484.19 FEET TO A TXDOT MONUMENT
FOUND;
NORTH 78040' I2" EAST, A DISTANCE OF 564.65 FEET TO A TXDOT MONUMENT
FOUND;
NORTH 76"25' 12" PAST, A DISTANCE OF 650.69 FEET TO A TXDOT MONUMENT
FOUND;
NORTH 76"02' 12" EAST, A DISTANCE OF 1,515.45 FEET TO A 5/8-INC14 IRON ROD
SET WITH CAP STAMPED "LIA SURVEYING" (HEREIN AFTER REFERRED TO AS A
"5/8-INCH IRON ROD SET");
SOUTH 84040'48" EAST, A DISTANCE. OF 105.94 FEET TO A TXDOT MONUMENT
FOUND;
NORU'H 76005'00" LAST, A DISTANCE OF 579.82 FEET TO A TXDOT MONUMENT
FOUND;
SOUTH 27"40'00" EASi', A DISTANCE OF 161,05 FEET TO A TXDOT MONUMENT
FOUND;
NORTH 6 T'28'02" EAST, A DISTANCE OF 39,96 FEET TO A 518-INCII IRON ROD SET
FOR THENO1t1 H COMMON CORNER OF SAID ROCKBROOK TRACTAND A TRACT
OF LAND DESCRIBED TO H V LUDIE PARTNERSHIP, LTD. BY DEED RECORDED
IN COUNTY CLERK FILE NO. D207I34657 OF SAID OFFICIAL PUBLIC RECORDS;
THENCE WITH THE COMMON LINE OF SAID ROCKBROOK AND II V LUDIE TRACTS, THE
FOLLOWING COURSES AND DISTANCES:
SOUTH 28031'58" EAST, A DISTANCE OF 656.01 FEET TO A 5/8-INCH IRON ROD SET;
SOUTI-i 6€028'02" WEST, A DISTANCE OF 1,598.30 FEET TO A 5/9-INCH IRON ROD
SET;
0 17420.0 0000 M856.9647-7793.v3
Ordinance DesignatingTax Increment ReinvestIllent Lone Number Fifteen, Ordinance No. 26420-09-2023
City of fort Worth, Texas Page 29 of 16
SOUTH 28031'58" FAST, A DISTANCE OF 2,112.59 FEET TO A 5/8-INCH IRON ROD
SET;
THENCE OVER AND ACROSS SAID ROCKBROOK TRACT THE FOLLOWING COURSES
AND DISTANCES:
WEST, A DISTANCE OF 3,385.27 FEET TO A 518-INCH IRON ROD SET;
THENCENORTH 13004'44" WEST, A DISTANC:E OF 2I9.82 FEET TO A 5/8-INCH IRON
ROD SET;
SOUTH 76055' 16" WEST, A DISTANCE OF 31.44 FEET TO A 5/8-INCH IRON ROD SET
FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 725.00
FEET AND A CHORD THAT BEARS SOUTH 99918' 12" WEST, 3I0.93 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 24-45,52",
AN ARC -DISTANCE OF 313.36 FEET TO A 518-INCH IRON ROD SET;
NORTH 78018'52" WEST, A DISTANCE OF 17.16 FEET TO A 5/8-INCH IRON ROE) SET
FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 775.00
FEET AND A CHORD THAT BEARS NORTH 88037'50" WEST, 277.57 Fi BT;
WITH SAID CURVE TO T1lE LEF Ii ,THROUGH A CENTRAL ANGLE OF 20°37'56", AN
ARC -DISTANCE OF 279.08 FEET TO A 518-INCH IRON ROD SET;
SOUTH 81°03' 12" WEST, A DISTANCE OF 11 E83 FEETTO A 5/8-INCH IRON ROD SET
FOR TFIB BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 725.00
FEET AND A CHORD "IbliK' BEARS SOUTH 85°21'31" WEST, 108.85 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 08°36'38",
AN ARC -DISTANCE OF I08.96 FEET TO A 5/9-INCH IRON ROD SET;
SOUTH 89'39'50" WEST, A DISTANCE OF I21.01 FEET TO A 518-INCI•I IRON ROD SET
ON THE EAST RIGHT-OF-WAY LINE OF SAID R.M. HIGHWAY NO. 2871;
THENCE NORTH 00020'10" WEST, A DISTANCE OF 2,090,34 FEET TO THE POINT OF
BEGINNING AND CONTAINING A CALCULATED AREA OF 259.444 ACRES (11,257,820 SQ.
FEET), OF LAND.
PMB Team Raneh Revco LLC Property (93,857 Acres)
BEING A TRACT OF LAND SITUATED IN THE DAN H. DIXON SURVEY, ABSTRACT NO.
442; HEIRS OF NATHAN PROCTOR SURVEY, ABSTRACT NO. 1229 AND THE G.H.& H.R.
RR, CO. SURVEY, ABSTRACT NO. 623, CITY OF PORT WORTH, TARRANT COUNTY,
TEXAS, AND BEING A PORTION OF THATTRACT OF LAND DESCRIBED TO ROCKBROOK
PARTNERSHIP, LTD. BY DEED RECORDED 1N COUNTY CLERK FILE NO. D212104127 OF
THE OFFICIAL PUBLIC RECORDS OF TARRANT- COUNTY, TEXAS, AND BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
017420.00DOO"4856.9647-7781A
Ordinance Designating Tax Increment Reinvestment 'Lone N1uniber Fifteen, Ordinance No. 26420-09-2023
City of Fort Worth, Texas Page 30 of 16
BEGINNING AT A 518-;NCH IRON ROD SET WITH CAP STAMPED "LJA SURVEYING"
(HEREIN AFTER REI'ERRED TO AS A "518-INCH IRON ROD SET") ON THE EAST RIGHT-
OF-WAY LINS OF R.M. HIGHWAY NO.2871 (A VARIABLE -WIDTH RIGHT-OF-WAY), FROM
WHICH A 5/8-INCH IRON ROD FOUND FOR TI1C WESTERN -MOST NORTHWEST CORNER
OF SAID ROCKBROOK TRACT BEARS NORTH 0002010" WEST, 2090.34 FEET;
THENCE OVER AND ACROSS SAID ROCKBROOK TRACT TI•IE FOLLOWING COURSES
AND DISTANCES:
NORTH 89039'50" EAST, A DISTANCE OF 121.01 FEET 1.0 A 5/8-;NCH IRON ROD SET
FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 725.00
FEET AND A CHORD THAT BEARS NORT14 8502111" EAST, 108.85 FEET;
WITH SAID CURVE TO THE LEFT, TAROUGI I A CENTRAL ANGLE OF 08-36-38", AN
ARC -DISTANCE OF 109.96 FEET TO A 518-INCFI IRON ROD SET;
NORTH 81003' 12" EAST, A DISTANCE OF 1 11.83 FEET TO A 518-INCH IRON ROD SE'1
FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 775.00
FEET AND A CHORD THAT BEARS SOUTH 88°37'50" EAST, 277.57 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 2W37'56",
AN ARC -DISTANCE OF 279.08 FEET TO A 518-INCH IRON ROD SET;
SOUTH 78018'52" EAST, A DISTANCE OF 17.I6 FEET TO A 5/8-INCH IRON ROD SET
FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 725.00
FEET AND A CHORD THAT BEARS NORTH 89'18' 12" EAST, 310.93 FEET;
WITH SAID CURVE TO THE LEFT, T14ROUGH A CENTRAL ANGLE Of 24°45'52", AN
ARC -DISTANCE OF 313.36 FEET TO A 518-INC14 IRON ROD SET;
NORTH 76055' 16" BAST, A DISTANCE OF 31.44 FEEI' TO A 5/8-INCH IRON ROD SET;
SOUTH 13004'44" EAST, A DISTANCE OF 272.28 FEET TO A 5/8-INCH IRON ROD SET
FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 1,675.00
FEET AND A C14ORD THAT BEARS SOUTH 34020'02" EAST, 1,214.43 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 42.30- 35", AN
ARC -DISTANCE OF 1,242.74 FEET TO A 5/8-INCH IRON ROD SET;
SOUTH 55035' 19" EAST, A DISTANCE OF 437.61 FEET TO A 5/8-INCH IRON ROD SET
FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1,050.00
FEET AND A CHORD THAT BEARS SOUTH 54042'40" EAST, 3116 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 01-45'I8",
AN ARC -DISTANCE OF 32.16 FEET TO A 518-INCH IRON ROD SET;
NORTH 36009'59" EAST, A DISTANCE OF 95.00 FEET TO A 518-INCH IRON ROD SET
FOR THIS BEGINNING OF A NON -TANGENT CURVE TO THE RIGHT HAVING A
017420.000001A856-9647.77810
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RADIUS OF 1,145.00 FEET AND A CHORD THAT BEARS SOUTH 48-32'49" EAST,
211.00 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 10°34'24",
AN ARC -DISTANCE. OF 211.30 FEET TO A 5/8-INCH IRON ROD SET;
SOUTH 43' 15'38" EAST, A DISTANCE OF 246.91 FEET TO A 518-INCH IRON ROD SE -I;
NORTH 50630'38" EAST, A DISTANCE OF 346.65 FEET TO A 5/8-INCH IRON ROD
SET;
NORTH 51"24'33" FAST, A DISTANCE OF 49.40 FEET TO A 518-)NCH IRON ROD SET;
SOUTH 20052' 18" EAST, A DISTANCE OF 655.52 FEETTO A 5/8-INCH IRON ROC] SET;
SOUTH 01020'58" WEST, A DISTANCE OF 129.06 FEET TO A 5/8-INCH IKON ROD
SET;
SOUTH 61°30'00" EAST, A DISTANCE OF 820.33 FEETTO A 518.1NCH IRON ROD SET;
SOUTH A DISTANCE OF 430.12 FEETTO A MAC -NAIL SET ON THE SOUTH LINE OF
SAID ROCKBROOK TRACT IN THE RIGHT-OF-WAY OF ALEDO ROAD (A
VARIABLE WIDTH RIGHT-OF-WAY);
TIIENCE ALONG SAID RIGHT-OF-WAY AND WITH SAID SOUTH LINE, THE FOLLOWING
COURSES AND DISTANCES;
SOUTH 89016'0I" WEST, A DISTANCE OF 199.79 FEET TO A MAG-NAIL SET;
NORTH 88028'59" WEST, A DISTANCE OF 199.79 FEET TO A MAG-NAIL SET;
NORTH 86028'59" WEST, A DISTANCE OF 199.79 FEET TO A MAG-NAIL SET;
NORTH 84028'59" WEST, A DISTANCE OF 199.79 FEET TO A MAG-NA11, SET;
NORTH 82958'59" WEST, A DISTANCE OF 199.79 FEET TO A MAG-NAIL SET;
NORTH 82°43'59" WEST, A DISTANCE OF 1,616.86 FEET 1.0 A MAG•NAIL SET;
THENCE OVER AND ACROSS SAID ROCKBROOK TRACT THE FOLLOWING COURSES
AND DISTANCES:
NORTH 07°53'24" EAST, A DISTANCE OF 176.83 FEET TO A 518-INCH IRON ROD SET
FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 2,525.00
FEET AND A CHORD THAT BEARS NORTH 14023'46" EAST, 572.22 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF I3°00'45",
AN ARC -DISTANCE OF 573.45 FEET TO A 518-INCH IRON ROD SET FOR THE
017420.00000 R4856.9647-7783A
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BEGINNING OF A REVERSE CURVE TO THE LEFT 14AVING A RADIUS OF 345.00
FEET AND A CHORD THAT HEARS NORTH 83000'53" WEST, 87.84 FEET;
WITH SA ID CURV E TO THE LEFT, THROUGH A CENTRAL ANGLE OF 14°37'38", AN
ARC -DISTANCE OF 88.08 FEET TO A 5/8-€NCI-I IRON ROD SET;
SOUTH 8904018" WEST, A DISTANCE OF 564.89 FEET 1-0 A 5l8-1NCII IRON ROD
SET;
NORTH 00020' I0" WEST, PASSING THE SOUTHEAST CORNER OF A TRACT OF
LAND DESCRIBED TO FORT WORTH INDEPENDENT SCHOOL DISTRICT BY DEED
RECORDED IN COUNTY CLERIC FILE NO. D219293163 OF SAID OFFICIAL PUBLIC
RECORDS AT I5.09 FEET AND THE NORTHEASTCORNER OF SAME TRACT AT
1015.09 FEET, AND CONTINUING A TOTAL DISTANCE OF I,065.09 FEETTO A 518-
INCH IRON ROD SET;
NORTH 89036'29" EAST, A DISTANCE OF 47.53 FEET TO A 5/8-INCH IRON ROD SET
FOR THE BEGINNING OF A NON -TANGENT CURVE TO THE LEFT RAVING A
RADIUS OF 275.00 FEET AND A CHORD THAT BEARS NORTH 73008'I8" EAST,
146.75 FEET;
WITH SAID CURVE TO T€ll LEFT, THROUGH A CENTRAL ANGLE OF 30°56'58", AN
ARC -DISTANCE OF 148.55 FEET TO A 5/9-INCH IRON ROD SET;
NORTH 57039'49" EAST, A DISTANCE OF 375.64 FEET TO A 5/8-INCH IRON ROD SET
FOR THE BEGINNING OF A NON -TANGENT CURVE TO THE RIGHT 14AVING A
RADIUS OF 1,750.00 FEET AND A CHORD THAT BEARS NORTH 26°24'58" WEST,
261.39 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 08°33'58",
AN ARC -DISTANCE OF 26I.64 FEETTO A 5/8-INCH IRON ROD SE'T;
SOUTH 57039'49" WEST, A DISTANCE OF 25.40 FEET TO A 5/8-INCH IRON ROD SET
FOR THE BEGINNING OF A NON -TANGENT CURVE TO THE RIGHT HAVING A
RADIUS OF 15775.00 FEET AND A CHORD THAT BEARS NORTH 17°40'43" WEST,
284.69 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 09°l1'58",
AN ARC -DISTANCE OF 285.00 FEET TO A 5/8-INCII IRON ROD SET;
NORTH 13004'44" WEST, A DISTANCE OF 112.29 FEET TO A 518-INCH IRON ROD
SET;
SOUTH 76055'16" WEST, A DISTANCE OF 132.30 FEETTO A 518-INCH IRON ROD SET
FOR TIME BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 775.00
FEET AND A CHORD THAT BEARS SOUTH 86°13'56" WEST, 250.78 FEET;
WIT14 SAID CURVE TO THE RTGHT, THROUGH A CENTRAL ANGLE OF 18°37'20",
AN ARC -DISTANCE OF 25I.89 FEET TO A 518-INCH IRON ROD SET;
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NORTH 84027'24" WEST, A DISTANCE OF 354.00 FEET TO A 5/8-INCH IRON ROD
SET FOR T1IE BEGINNING OF A CURVE TO THE LEFT I IAVING A RADIUS OF 775.00
FEETAND A CHORD THAT BEARS NORTH 87023'47" WEST, 79.49 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH i A CENTRAL ANGLE OF 05°52'46", AN
ARC -DISTANCE OF 79.53 FEET TO A 5/8-INCH IRON ROD SET;
SOUTH 89°39'50" WEST, A DISTANCE OF 102.79 FEETTO A 5/8-INCH IRON ROD SET
ON T13E EASTRIGHT-OF-WAY LINT; OF SAID R.M. HIGHWAY NO.2871,
THENCE NORTH 00020' 10" WEST, WITH SAID EAST RIGHT-OF-WAY LINE, A DISTANCE
OF 160.00 FEET TO THE POINT OF BEGINNING AND CONTAINING A CALCULATED AREA
OF 93.857 ACRES (4,088,425 SQ. FEET), OF LAND,
PMB Veale Lane] Investors I LP Provertv (199.816 Acres)
BEING A 199.816-ACRE TRACT OF LAND SITUATED IN THE S.A.& M.GA.R. CO. SURVEY,
ABSTRACT NOS, 1479, 1903 & 1961, TARRANT COUNTY, TEXAS, AND BEING A PORTION
OF TRACT DESCRIBED TO IONA LAND L.P., ET AL BY DEED RECORDED IN COUNTY
CLERIC FILE NO. D203145630 OF THE OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY,
TEXAS, AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS
FOLLOWS:
BEGINNING AT A 5/8-INCH CAPPED IRON ROD STAMPED "LJA SURVEY" SET
(HEREINAFTER RLFFERED TO AS AN IRON ROD SET) FOR CORNER ON THE EASTERLY
LINE OF SAID IONA LAND TRACT, FROM WHICH A ]-INCH IRON ROD FOUND FOR
REENTRANT CORNER OF SAME BEARS NORTH 00032'23" WEST, I,I79.42 FEET, SAID
REFERENCED CORNER BEING THE NORTHWEST CORNER OF A TRACT OF LAND
DESCRIBEED TO MERITAGE HOMES OF TEXAS, LLC BY DEED RECORDED IN COUNTY
CLERK FILE NO. D218276312 OF SAID OFFICIAL PUBLIC RECORDS;
THENCE SOUTH 00032'23" EAST, WITH SAID EASTERLY LINE, A DISTANCE OF 3,108.51
FEET TO AN IRON ROD SET FOR CORNER, FROM WHICH A I -INCH IRON ROD FOUND
FOR THE EASTERNMOST SOUTHEAST CORNER OF SAID IONA LAND TRACT BEARS
SOUTH 00032'23" EAST, 2,633.31 FEET;
THENCE DEPARTING SAID EASTERLY LINE, OVER AND ACROSS SAID IONA LAND
TRACT, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 60'58'38" WEST, A DISTANCE OF 1,652.39 FEET TO AN IRON ROD SET;
NORTH 32-5I'50" WEST, A DISTANCE OF 288.61 FEET TO AN IRON ROD SET;
NORTH 70059'09" WEST, A DISTANCE OF I,150.43 FEE]' TO AN IRON ROD SET;
NORTH 12005' 12" WEST, A DISTANCE OF 1,072.30 FEET TO AN IRON ROD SET FOR THE
BEGINNING OF A NON -TANGENT CURVE TO THE RIGHT" HAVING A RADIUS OF 3,740.45
FEET AND A CHORD THAT BEARS NORTH 68052'37" EAST, 597.00 FEET;
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WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 9°09' 16", AN ARC -
DISTANCE OF 597.64 FEET TO AN IRON ROD SET;
NORTH 15035'22" WEST, A DISTANCE OF 71.72 FEET TO AN IRON ROD SET FOR THE
BEGINNING OF A LION -TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 1,470.18
FEET AND A CHORD THAT SEARS NORTH 01042' I0" EAST, 836.77 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLEOF 33°04'03", AN ARC -
DISTANCE OF 848.49 FEET TO AN IRON ROD SET;
NORTH 180 14'1I" EAST, A DISTANCE OF 570.35 FEET TO AN IRON ROD SET;
NORTH A DISTANCE OF 565.15 FEET TO AN IRON ROD SET;
NORTH 89033'04" EAST, A DISTANCE OF 2,143.52 FEETTO T14E POINT OF BEGINNING,
AND CONTAINING A CALCULATED AREA OF 199.816 ACRES (8,704,001 SQ. FEET) OF
LAND.
TRT Land Investors LLC Pronerty (3.525.526 Acres)
BEING A 3590.912-ACRE TRACT OF LAND SITUATED IN THE NATHAN PROCTOR
SURVEY, ABSTRACT NO. 1229, G.H & H. RR. CO. SURVEY, ABSTRACT NO.623, DAVID H.
DIXON SURVEY, ABSTRACT NO.442, S.F. CO. SURVEY, ABSTRACT NO. 1844, D.T. FINLEY
SURVEY, ABSTRACT NO. 1900, S.A. & M.G. RR. CO. SURVEY, ABSTRACT NOS. 1479, 1903
& 1961, T. & N.O. RR. CO. SURVEY, ABSTRACT NO. 1567, HENRY LANE SURVEY,
ABSTRACT NO. 928, AND THE WILLIAM ROBINSON SURVEY, ABSTRACT NO. 1274,
TARRANT COUNTY, TEXAS AND THE WILLIAM ROBINSON SURVEY, ABSTRACT NO,
1107, I. & G.N. RR. CO. SURVEY, ABSTRACT NOS. 1991, 2224 & 2002, NORMAN
UNDERWOOD SURVEY, ABSTRACT NO. 1579 AND THE H. T. & B. RR. CO. SURVEY,
ABSTRACT NO. 648, PARKER COUNTY, TEXAS, AND BEING A PORTION OF A TRACT
DESCRIBED TO IONA LAND L.P., ET AL BY DEED RECORDED IN COUNTY CLERK FILE
NO. D203145633 OF THE OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY, TEXAS
(O.P.R.T.C.T.), AND A PORTION OF A TRACT' DESCRIBED TO IONA EAST, LLC BY DEEDS
RECORDED IN COUNTY CLERK FILE NOS. 13215081239 AND D2I5081241, O.P.R.T.C.T. AND
ALL OF THOSE TRACTS OF LAND DESCRIBED TO WARD G. VEALE BY DEED RECORDED
IN COUNTY CLERK FILE NOS. D207177762 AND D220247526, O.P.R.T.C.T. AND ALL OF
THAT TRACT OF LAND DESCRIBED TO IONA LAND L.P. BY DEED RECORDED IN
COUNTY CLERK FILE NO. D205124001, O.P.R.T.C.T., AND ALL OF THOSE TRACTS OF
LAND DESCRIBED TO DAVID VEALE EKSTROM BY DEED RECORDED IN COUNTY
CLERK FILE NOS. D205124000 AND D210289114, O.P.R.T.C.T., AND ALL OF THAT TRACT
OF LAND DESCRIBED TO LUCILLE EKSTROM BY DEED RECORDED IN COUNTY CLERK
FILENO. D205124002, O.P.R.T.C.T., AND ALL OF LOTS I AND 2, BLOCK 1, VENTANA PUMP
STATION ADDITION AS SHOWN BY PLAT RECORDED IN COUNTY CLERK FILE NO.
D217023262, O.P.R.T.C.T. AND ALL THAT TRACT OF LAND DESCRIBED TO KAREN
EKSTROM BROWN BY DEED RECORDED IN VOLUME 2776, PAGE 1201 OF THE OFFICIAL
PUBLIC RECORDS OF PARKER COUNTY, TEXAS (O.P.R.P.C.T.) AND ALL THAT TRACT' OF
LAND DESCRIBED TO SHAILAR W. BROWN BY DEED RECORDED IN VOLUME 2705,
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PAGE 904, O.P.R.P.C.T., AND BEING MORE PARTICULARLY DESCRIBED BY METES AND
BOUNDS AS FOLLOWS:
BEGINNING AT A 5/8-INCI•I IRON ROD FOUND AT THE INTERSECTION OF THE WEST
RIGHT-OF-WAY LINE OF FARM TO MARKET 2971 (A VARIABLE WIDTH RIGHT-OF-WAY)
AND THE SOUTH RIGHT-OF-WAY LINE OF THE UNION PACIFIC RAILROAD {A
VARIABLE WIDTH i RIGHT-OF-WAY} FOR THE NORTHEAST CORNER OF SAID IONA EAST
TRACT AND THE BEGINNING OF A NON -TANGENT CURVE TO THE LEFT, HAVING A
RADIUS OF 2,416.83 FEET, AND A CHORD THAT BEARS SOUTH 11035-04" EAST, 945.85
FEET;
THENCE WITH SAID CURVE TO THE LEFT AND WEST RIGHT-OF-WAY I,TNE, THROUGH
A CENTRAL ANGLE OF 22034'08", AN ARC -DISTANCE. OF 951.99 FEET TO A 112-INCH
CAPPED IRON ROD FOUND STAMPED "LANDES ASSOCIATES" FORTHENORTH CORNER
OF LOT 1, BLOCK 1, BENBROOK CHRIS'rIAN FELLOWSHIP SUBDIVISION, AN ADDITION
TO THE CITY OF FORT WORTH, TEXAS AS 8140WN BY PLAT RECORDED IN COUNTY
CLERK FILE NO. D205347812 OF SAID OFFICI AT, PUBLIC RECORDS;
THENCE WITH THE NORTHWESTERLY LINE OF SAID BENBROOK CHRISTIAN
FELLOWSHIP ADDITION, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 64027'52" WEST, A DISTANCE OF 475.19 FEET TO A BENT 1/2-INCH IRON
ROD POUND;
SOUTH 47056'03" WEST, A DISTANCE OF 221.98 FEET TO A V2-INCH CAPPED IRON
ROD STAMPED "WIER ASSOCIATES" FOUND;
SOUTH 31020'39" WEST, A DISTANCE OF 625.38 FF-Fr TO A 112-INCH CAPPED IRON
ROD STAMPED "WIER ASSOCIATES" FOUND FOR TI IE SOUTHWEST CORNER OF
SAID BENBROOK CHRISTIAN FELLOWSHIP ADDITION ON THE NORTH LINE OF
LOT 1, BLOCK 1, BENBROOK WATER AND SEWER AU'I.1-IORITY TANK SITE, AS
SHOWN BY PLAI' RECORDED IN CABINET A, SLIDE 4324 OF SAID OFFICIAL
PUBLIC RECORDS;
THENCE SOUTH 89038'34" WEST, WITH SAID NORTH LINE, A DISTANCF. OF 597.69 FEET
TO A 5184NCH IRON ROD FOUND FOR THE NORTHWEST CORNER OF SAID BENBROOK
WATER AND SEWER AUTHORITY TANK SITE;
THENCE SOUTH 0103611" WEST, WITH THE WEST LINE OF SAID BF:NBROOK WATER
AND SEWER AUTHORITY TANK SITE, A DISTANCE OF 8.87 FEET TO A I12-INCH IRON
ROD FOUND FOR THE NORTHEAST CORNER OF LOT 31X, BLOCK 8, VENTANA, PHASE 1
AS SHOWN BY PLAT RECORDED IN COUNTY CLERK FILE NO. D217078339 OF SAID
OFFICIAL PUBLIC: RECORDS;
THENCE SOUTH 89026'43" WEST, WITH THE EASTERLY LINE. OF SAID IONA LAND L.P.,
ET AL TRACT, A DISTANCE OF 3,712.76 FEET TO A I -INCH IRON ROD FOUND FOR
REENTRANT CORNER AT THE NORTHWEST CORNER OF A TRACT OF LAND DESCRIBED
TO MERITAGE HOMES OF TEXAS, LLC BY DEED RECORDED IN COUNTY CLERK FILE
NO. D218276312 OF SAID OFFICIAL PUBLIC RECORDS;
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THENCE SOUTH 00932'23" EAST, CONTINUING WITH THE EASTERLY LINE OF SAID IONA
LAND TRACT, A DISTANCE OF 1,179,42 FEET TO A 5/8-INCII CAPPED IRON ROD
STAMPED "LJA SURVEY" SET (HEREINAFTER REFFERED TO AS AN IRON ROD SET);
THENCE DEPARTING SAID EASTERLY LINE, OVER AND ACROSS SAID IONA LAND
TRACT, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 89033'04" WEST, A DISTANCE OF 2,143.52 FEET TO AN IRON ROD SET;
SOUTH A DISTANCE OF 565.15 FEET TO AN IRON ROD SET;
SOUTH 180I4' 11" WEST, A DISTANCE OF 570,35 FEET TO AN IRON ROD SET FOR
THE BEGINNING OF A CURVLTO THIS LEFT, HAVING A RADIUS OF 1,470.18 FEET,
AND A CHORD THAT BEARS SOUTH 0I042' IO" WEST, 836.77 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLI3 OF 33°04'03", AN
ARC -DISTANCE OF 848,49 FEET;
SOUTH 15635'22" EAST, A DISTANCE OF 7I.72 FEET TO AN IRON ROD SET FOR
THE BEGINNING OF A NON -TANGENT CURVE TO THE LEFT, HAV INC, A RADI[IS
OF 3,740.45 FEET, AND A CHORD THAT BEAKS SOUTH 68°52'37" WEST, 597.00
FEET;
WITH SAID CURVETO THE LEFT, THROUGH A CENTRAL ANGLE OF 09009' 16", AN
ARC -DISTANCE OF 597.64 FEET" I'O AN IRON ROD SET;
SOUTH 12005' l2" EAST, A DISTANCE OF 1,072.30 FEET' TO AN IRON ROD SET;
SOUTH 70059'09" EAST, A DISTANCE OF 1,150.43 FEET TO AN IRON ROD SET;
SOUTH 3205 l'50" EAST, A DISTANCE OF 288.61 FEET TO AN IRON ROD SET;
NORTH 60058'38" BAST, A DISTANCE OF 1,652.39 FEET TO AN IRON ROD SET ON
THE EASTERLY LINE OF SAID IONA LAND TRACT;
THENCE SOUTH 00032'23" EAST, WITH SAID EASTERLY LINE, A DISTANCE OF 2,633.31
FEET TO A I -INCH IRON ROD FOUND FOR THE EASTERNMOST SOUTHEAST CORNER OF
SAID IONA LAND TRACT, SAME BEING A REENTRANT CORNER FOR A TRACT OF LAND
DESCIUBED TO JOHNNY VINSON 11 AS RECORDED IN COUNTY CLERK FILE NO
D204159103 OF SAID OFFICIAL PUBLIC RECORDS;
THENCE SOUTH 89027'40" WEST, CONTINUING WITH SAID EASTERLY LINE, A
DISTANCE OF 3,180.00 FEET TO A 1-INCH IRON ROD FOUND FOR REENTRANT CORNER
OF SAID IONA LAND TRACT;
THENCE SOUTH 00032' 15" EAST, CONTINUING WITH SAID EASTERLY LINE, A DISTANCE
OF 3,557.84 FEET TO AN €RON ROD SET FOR THE SOUTHERNMOST SOUTHEAST CORNER
0 174 MOM 0 D i14856.9647.7783. v3
Ordinance Designating'Tax Inurement Reinvestment 7.one Ni umber fifteen, Ordinance No. 26,120-09-2023
City of'I`ort Worth, 'Texas Page 37 of 16
OF SAID IONA LANE] TRACT, FROM WIIICII A 60D NAIL BEARS NORTH 19°35'22" EAST-,
A D]S'rANCE OF 1.71 FEET;
THENCE SOUTH 89026' 13" WEST, WITH THIS SOUTH LINE OF SAID IONA LAND TRACT, A
DISTANCE OF 5,819.66 FEET TO AN IRON ROD SET FOR THE SOUTHERNMOST
SOUTHWLST CORNER OF SAME, FROM WHICH A 1/2-INCH IRON ROD FOUND BEARS
NORTH 02046'29" EA&]', A DISTANCE OF 3.02 FEET;
THENCE NORTH 00033'18" WEST, WITH THE WESTERLY LINE OF SAID IONA LAND
TRACT, A DISTANCE OF 2,872.90 FEET -1.0 A I -INCH PIPE. FOUND FOR THE NORTHEAST
CORNER OF A TRACT OF LANE] DESCRIBED TO HANLEY FAMILY PARTNERSHIP AS
RECORDED IN COUNTY CLERIC FILE NO. D220100054 OF SAID OFFICIAL PUBLIC
RECORDS;
THENCE NORTH 89043'19" WEST, WITH THE ?NORTH LINE OF SAID HANLEY FAMILY
TRACT, A DISTANCE OF 1,328.61 FEFiTTO AN IRON ROD SET FROM WHICH A 60D NAIL
FOUND HEARS SOUTH 34013'58" EAST, A DISTANCE OF 1.63 FFF:T;
THENCE WITI•I THE WESTERLY LINE OF SAID IONA LAND TRACT, THE FOLL.OWINO
COURSES AND DISTANCES:
NORTH 34013'58" WEST, A DISTANCE OF 567.75 FELT" ]'O AN IRON ROD SET;
NORTH 34°03' 18" WEST, A DISTANCE OF 420,48 FEET" I'0 A 1/2-INCH CAPPED IRON
ROD STAMPED "MIZEL L RPLS 1967" FOUND;
NORTH 34'03' 13" WEST, A DISTANCE OF 484.20 FEETTO AN IRON Rot] SET, FROM
WHICH A 60D NAIL FOUND $EARS SOUTH 43-47'30" EAST, A DISTANCE OF 1.87
FEET;
NORTH 34004'06" WEST, A DISTANCE OF 418.59 FEET TO A 1/2-INCH IRON ROD
FOUND;
NORTH 34011'41" WEST, A DISTANCE OF 290.03 FEET A 3-INC14 METAL. POST;
NORTH 33056'19" WEST, A DISTANCE OF 379.09 FEET TO A 1/2-INCH IRON ROD
FOUND;
NORTH 34006'04" WEST, A DISTANCE OF 709.55 FEET TO AN IRON ROD SET;
NORTH 34004'39" WEST, A DISTANCE OF 607.03 FEET TO AN IRON ROD SET;
NORTH 34006'04" WEST, A DISTANCE OF 316.07 FEET TO AN IRON ROD SET;
NORTH 34°16'07" WEST, A DISTANCE OF 402.25 FEET TO A 3-INCH METAL POST
FOUND;
NORTH 81029'44" WEST, A DISTANCE OF I,026.51 FEET TO AN IRON ROD SET;
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NORTH 83010' l7" WEST, A DISTANCE OF 459.57 FEET TO A 112-1NC 1 CAPPED IRON
ROD STAMPED `OWEN 5560" FOUND;
THENCE OVER AND ACROSS SAID IONA LAND L.P, TRACT THE FOLLOWING COURSES
AND DISTANCES:
NORTH 00°00'16" WEST, A DISTANCE OF 1,969.55 FEET TO A 1/2-INCH CAPPED
IRON ROD STAMPED "OWEN 5560" FOUND;
NORTH 34004'06" WEST, A DISTANCE OF 605.90 FEF.TTO A 112-INCH CAPPED IRON
ROD STAMPED"OWEN 5560" FOUND;
NORTH 89'58'35" WEST, A DISTANCE OF I,240.06 FEET TO A 1I2-INCH CAPPED
IRON ROD STAMPED "OWEN 5560" FOUND;
SOUTH 24030'44" WEST, A DISTANCE OF I,362.18 FEET-1.0 AN IRON ROD SET;
NOR'I'li 89059'22" WEST, A DISTANCE OF 635.96 FEET TO A 1/2-INCH CAPPED IRON
ROD STAMPED "OWEN 5560" FOUND ON THE EAST RIGHT-01--WAY LINE OF
FARM TO MARKET ROAD NO. 1 187 (A VARIABLE WIDTH RIGHT-OF-WAY);
THENCE NORTH 00*47'32" BAST, WITH SAID EAST RIGHT OF WAY LINE, A DISTANCE OF
2,050.06 FEET TO AN IRON ROD SET ON THE SOUTHERLY RIGHT-OF-WAY LINE OF
ALEDO ROAD (A VARIABLE WIDTH RIGHT-OF-WAY);
THENCE WITH SAID SOUTHERLY RIGHT-OF-WAY LINE, THE FOLLOWING COURSES
AND DISTANCES:
NORTH 3301 P53" EAST, A DISTANCE OF 1,753.87 FEET TO AN IRON ROD SET;
NOR'I'I-136°53'30" EAST, A DISTANCE OF 812.93 FEET TO A METAL FENCE POST;
NORTH 57021'43" EAST, A DISTANCE OF 970.5I FEET TO A MF.TAI. FENCE POST;
NORTH 77044'53" EAST, A DISTANCE OF 434.70 FEET TO METAL FENCE•, POST;
NORTH 85044'54" EAST, A DISTANCE OF 448.88 FEET TO A METAL FENCE POST;
NORTH 77010'02" EAST, A DISTANCE OF 621.95 FI ET TO A METAL FENCE POST;
NORTH 84037'35" EAST, A DISTANCE OF 850.23 FEET TO AN IRON ROD SE'I;
SOUTH 86035'55" EAST, A DISTANCE OF 58.49 FEET TO AN IRON ROD SET;
NORTH 84016'48" EAST, A DISTANCE OF 1,593.42 FEET TO A METAL FENCE POST;
NORTH 84' 12'06" EAST, A DISTANCE OF I,463.51 FEET TO A CEDAR FENCE POST;
NORTH 84*25' 11" EAST, A DISTANCE OF 377.44 FEET TO A CEDAR FENCE POST;
0 1742 0,00000 1 \4 856-9647-7 783.0
Ordinance Designating Tax Increment Reinvestment "Lone Number Fiftcen, Ordinance No. 26420-09-2023
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NORTH 84019'22" EAST, A DISTANCE; OF 379.52 FEF'T TO AN IRON ROD SET;
NORTH 86052' 18" EAST, A DISTANCE OF 261,07 FRET TO AN IRON ROD SET;
SOUTH 88015' 14" CAST, A DISTANCE OF 212.80 FEET TO AN IRON ROD SET;
SOUTH 84°02'34" EAST, A DISTANCE OF I89.06 FEET 1-0 AN IRON ROD SET;
SOUTH 80°24'03" EAST, A DISTANCE OF 724.34 FEET" 1'O AN IRON ROD SET;
NORTH 09038'28" EAST, A DISTANCE OF 41.36 FEET TO AN IRON ROD SET;
SOUTH 80*21'32" EAST, A DISTANCE OF 549.54 FEET TO AN IRON ROD SET;
SOUTH 0003 P37" EAST, A DISTANCE OF 25.40 FEET TO AN IRON ROD SET;
SOUTH 800'21'32" EAST, A DISTANCE OF 2,000.05 FEET TO AN IRON ROD SET FOR
THE BEGINNING OF A CURVE TO THE RIGHT, HAVING A RADIUS OF 1,716.19
FEET, AND A CHORD THAT BEARS SOUTH 67033'41" EAST, 760.29 FEET;
WITH SAID CURVE TO 'THE RIGHT, THROUGH A CENTRAL ANGIX OF 25°35'42",
AN ARC -DISTANCE OF 766,65 FEET TO AN IRON ROD SET;
SOUTIi 54045'50" EAST, A DISTANCE OF 411.69 FEET TO AN IRON ROD SET FOR
TI iE BEGINNING OF A CURVE TO THE LEFT, LAVING A RADIUS OF 2,050.74 FEET,
AND A CHORD THAT BEARS SOUTH 70035'55" EAST, 1,1 19.15 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 31'40' 10", AN
ARC -DISTANCE OF 1,133.52 FEET TO AN IRON ROD SET;
SOUTH BW26'00" EAST, A DISTANCE OF 2,213.89 FEET TO AN IRON ROD SET FOR
THE- BEGINNING OF A CURVE' I'O'I'Hil LEFT, HAVING A RADIUS OF 2,041.14 FET?T,
AND A CHORD THAT BEARS SOUTH 89908'09" EAST, 192.48 FEET;
WITH SAID CURVL TO THE LEC ', THROUGH A CENTRAL ANGLE OF 05024,18", AN
ARC -DISTANCE OF 192.55 FEET TO AN IRON ROD SET;
NORTH 00033'50" WEST, A DISTANCE OF 25.01 FEETTO AN IRON ROD SI:T FOR
TI3E BEGINNING OF A CURVE TO THE LEFT, HAVING A RADIUS OF 2,016.12 FEET,
AND A CHORD THAT BEARS NORTH 79056'54" EAST, 574,95 FEET,
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 16-23-43", AN
ARC -DISTANCE OF 576,91 FEET TO AN IRON ROD SET, FROM WHICH A CROSS -
TIE BEARS SOUTH 61049'22" EAST, A DISTANCE OF 2.52 FEET;
SOUTH IP14'57" EAST, A DISTANCE OF 50.01 FEET TO AN IRON ROD SET FOR
THE BEGINNING OF A CURVE TO THE LEFT, HAVING A RADIUS OF 2,066.13 FEET,
AND A CHORD THAT BEARS NORTH 68026'25" EAST, 238.63 FEET;
0 ( 7420-0 0000114 856.9647.7783 A
Ordinance Designaling Tax Increment Reinvestment 'Lane Number fifteen, Ordinance No. 26420-09-2023
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WITH SAID CURVETO THE LEFT, THROUGH A CENTRAL ANGLE OF 06037' 16", AN
ARC -DISTANCE OF 238.76 FEET TO AN IRON ROD SET;
NORTH 65908'05" EAST, A DISTANCE OF 460.57 I'EFT TO AN IRON ROD SET FOR
THE BEGINNING OF A CURVE TO THE RIGHT, HAVING A RADIUS OF 3,I92.48
FEET, AND A CHORD THAT BEARS NORTI172-13.49" EAST, 788.70 FEET;
WITH SAID CURVE TO THE R10HT, THROUGH A CENTRAL ANGLE OF 14011'28",
AN ARC -DISTANCE OF 790.72 FEET TO AN IRON ROD SET;
NOR'm ! 2°07'40" WEST, A DISTANCE OF 50.01 FEET TO AN IRON ROD SET;
NORTH 78°27'48" EAST, A DISTANCE OF 93.77 FEET TO AN IRON ROD SET FOR
THE BEGINNING OF A CURVE TO THE RIGHT, HAVING A RADIUS OF 4,493.42
FEET, AND A CHORD THAT BEARS NORTII 88°43'36" EAST, 1,601.21 FEET;
WITH SAID CURVE TO THE IGHT, THROUGH A CENTRAL ANGLE OF 20-31'36",
AN ARC -DISTANCE OF 1,609.81 FEET TO AN IRON ROD] SET FOR T1 DE BEGINNING
OF A CURVE TO THE LEFT, HAVING A RADIUS OF 6,276.42 FEET, AND A CHORD
THAT BEARS SOUTH 82017'37" EAST, 281.19 FEET;
WITH SAID CURVE 1.0 THE, LEFT, THROUGH A CENTRAL ANGLE. OF 02°34'0I", AN
ARC -DISTANCE OF 28I.21 FEET;
SOUTH 82007'07" EAST, A DISTANCE OF 1,350.40 FEET TO THE POINT OF
BEGINNING AND CONTAINING A CALCULATED AREA OF 3,590.912 ACRES
(156,420,144 SQ. FEET) OF LAND (GROSS).
SAVE AND EXCEPT THAT 6.783-ACRE PORTION OF THE SUBJECT TRACT THAT LIES
WITHIN VEALE RANCH PARKWAY, A 110-FOOT-WIDE RIGHT-OF-WAY AS DEDICATED
BY DOCUMENT RECORDED IN COUNTY CLERIC FILE NO. D217021025, O.P.R.T.C.T., FOR
A NET CALCULATED AREA OF 3,584.129-ACRES OF LAND.
SAVE AND EXCEPT
BEING 58.603 ACRES OF LAND SITUATED IN THE DAVID H. DIXON SURVEY, ABSTRACT
NO, 442, G.H. & H. R.R. CO. SURVEY, ABSTRACT NO. 623, D.T. FINLEY SURVEY,
ABSTRACT NO. 1900, AND THE NATHAN PROCTOR SURVEY, ABSTRACT NO, 1229,
TARRANT COUNTY, TEXAS, AND BEING A PORTION OF A TRACT OF LAND DESCRIBED
TO TRT LAND INVESTORS, LLC AS RECORDED 1N COUNTY CLERICS FILE NO.
D22I245221, OFFICIAI, PUBLIC RECORDS OF TARRANT COUNTY TEXAS, AND BEING
MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 5/8-INCH IRON ROD FOUND FOR THE NORTHEAST CORNER OF SAID
TRT LAND TRACT ON THE WESTERLY RIGHT-OF-WAY LINE OF R.M. HIGHWAYNO. 2871
(A VARIABLE WIDTH RIGHT-OF-WAY) FOR THE BEGINNING OF A CURVE TO THE LEFT
HAVING A RADIUS OF 2416.83 FEET AND A CHORD THAT BEARS SOUTH I t035'04" EAST,
945.85 FEET;
017420.00001)1\4856.9647-7783.v3
Ordinance Designating Tax Inercment Reinvestment Zone NUmber Fifleen, Ordinance No. 26420-09-2023
Laity of fort Worth, 1 exas Page 41 of 16
THENCE WITH SAID WESTERLY RIGHT-OF-WAY LINE AND SAID CURVE TO THE, LEFT,
THROUGH A CENTRAL ANGLE OF 22034'08", AN ARC -DISTANCE. OF 951.99 FEET TO A
112•INCI-I CAPPED IRON ROD STAMPED "LANDES ASSOCIATES" FOUND FOR THE
NORTHERNMOST CORNER OF LOT I, BLOCK I, BENBROOK CHRISTIAN FELLOWSI.IIP
SUBDIVISION, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COLENTY,
TEXAS BY PLAT RECORDER IN COUNTY CLERK FILE NO. D205347812 OF SAID OFFICIAL,
PUBLICRECORDS;
THENCE WITH TIIE NORTHWESTERLY LINE OF SAID BENBROOK CHIUSTIAN
FELLOWSHIP SUBDIVISION, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 64°27'52" WEST, A DISTANCE OF 475.19 FEET TO A 1/2-INCH IRON ROD
FOUND;
SOUTH 47056'03" WEST, A DISTANCE OF 221.98 FEET TO A 112-INCH CAPPED IRON
ROD STAMPED "WIF.R ASSOCIATES" FOUND;
SOUTH 31020'39" WEST, A DISTANCE OF 625.38 FEET TO A 1/2-INCH CAPPED IRON
ROD STAMPED "WIER ASSOCIATES" FOUNT] FOR THE SOUTHWEST CORNER OF
SAID BENBROOIC CHRISTIAN FELLOWSHIP SUBDIVISION ON THE NORTH LINE
OF LOT 1, BLOCK 1, BENBROOK WATER AND SEWER AUTHORITY TANK SITE, AN
ADDITION TO THE CITY OF BENBROOK, TARRANT COUNTY, TEXAS BY PLAT
RECORDED IN CABINET A, SLIDE 4324 OF SAID OFFICIAL PUBLIC RECORDS;
THENCE SOUTH 89038'34" WEST, WITH SAID NORTH LINE, A DISTANCE OF 597.69 FEET
TO A 518-INCH IRON ROD FOUND POR THE NORTHWEST CORNER OF SAID BENBROOK
WATER AND SEWER AUTHORITY TANK SITE;
THENCE SOUTH 01036' 11" WEST, WITH TIIE WEST LINE OF SAID BENBROOK WATER
AND SEWER AUTHORITY TANK SITE, A DISTANCE OF 8.87 FLEE TO A 112-INCH IRON
ROD FOUND FOR THE NORTHEAST CORNER OF LOT 31X, BLOCK 8, VENTANA, AN
ADDITION TO T14E CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, AS SHOWN BY
PLAT" RECORDED 1N COUNTY CLERK FILE NO. D217078339 OF SAID OFFICIAL PUBLIC
RECORDS;
THENCE SOUTH 89026'43" WEST, WITH THENORTH LINE OF SAID VENTANA AUDITION,
A DISTANCE. OF 649.00 FEET;
THENCE OVER AND ACROSS SAID TRT LAND TRACT, THE. FOLLOWING COURSES AND
DISTANCES;
NORTH 01 022'48" WEST, A DISTANCE OF 899.51 FEET;
NORTH 89016'44" EAST, A DISTANCE OF 669.38 FEET;
NORTH 04921'24" BAST, A DISTANCE OF 1 119.32 FEET TO THE NORTH LIME OF
SAID TRT LAND TRACT;
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Ordinance I]esignating Tax Increment Reinvestment 'hone Lumber Fifteen, Ordinance NO. 26420-09-2023
City of fort Worth, Texas Page 42 of 16
TIgFNCE SOUTH 92007'07" EAST, WITH SAID NORTH LINE, A DISTANCE OF 1333.53 FEET
TO THE POINT OF BEGINNING AND CONTAINING A CALCULATED AREA 64.680 ACRES
(2,817,481 SQUARE FEET) SAVE. AND EXCEFI' THAI- 6.077 ACRES THAT LIES WITI-m
VEALE RANCH PARKWAY (A I10-FOOT-WIDE RIGI-rr-OF-WAY) AS DEDICATED BY
DOCUMENTRECORDED IN COUNTY CLERIC FILE NO. D217021024 OF SAID OFFICIAL
PUBLIC RECORDS FOR A NET CALCULATED AREA OF 58.603 ACRES (2,552,781 SQUARE
FEET) OF LAND.
017420.00000IL4856-9647.7783A
Ordinance Designating 'Fax Iricrernent Reinvestment %one Number Fifteen, Ordinance No. 26420-09-2023
City of fort Worth, 'Texas Page 43 of 16
City of Fort !North, Texas
Mayor and Council Communication
DATE: 09/12/23 M&C FILE NUMBER: M&C 23-0712
LOG NAME: 17TIF16 VEALE RANCH EST
SUBJECT
(ETJ) Conduct a Public Hearing Regarding the Designation of Tax increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas (Veale
Ranch TIF), Declare the Petition to Create the Veale Ranch TIF to be Sufficient, and Adopt an Ordinance Creating the Veale Ranch TIF
(PUBLIC HEARING - a. Report of City Staff: Michael Hennig; b. Public Comment; c. Council Action: Close Public Hearing and Act on the M&C)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing concerning the creation of Tax Increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas, for tax
increment financing purposes;
2. Find that the attached petition requesting the creation of Tax Increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas meets
the requirements necessary for the City Council to designate the proposed area as a Tax Increment Reinvestment Zone pursuant to Chapter
311 of the Texas Tax Code; and
3. Adopt the attached ordinance designating Tax Increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas, pursuant to Chapter
311 of the Texas Tax Code and containing specific findings of fact in support thereof.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to conduct a public hearing on the establishment of Tax Increment Reinvestment
Zone Number Sixteen, City of Forth Worth, Texas {more commonly referred to as the "Veale Ranch TIF"), as required by Chapter 311 of the Texas
Tax Code (Code). PMB Veale Land Investors 1, LP and other entities (Developer) entered into an agreement with the 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 VVorth's extraterritorial jurisdiction in Parker County and Tarrant
County (City Secretary Contract No. 59003, as it may be amended from time -to -time) (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 Veale
Ranch Public Improvement District and this overlapping Veale Ranch TIF.
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 Veale Ranch PID assessments, Veale Ranch TIF 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 improvements. Due to the enormity of the
Development, the 50-year Development timeframe, and the potential financial complexities associated with funding the public improvements
associated therewith, the City Council adopted a separate resolution waiving certain provisions of the Capital PID Policy and TIRZ Policy with
respect to the creation and operation of the Veale Ranch PID and Veale Ranch TIRZ, all of which are incorporated into this M&C for purposes of
creating the Veale Ranch TIF (Resolution No. 5705-02-2023; February 28, 2023).
On July 17, 2023, the City Council received a petition requesting establishment of the Veale Ranch TIF ("Petition"), which is attached hereto. On
August 22, 2023, the City Council adopted a Resolution accepting the filling of the Petition and setting a date for this public hearing (Resolution
No. 5787-08-2023). The Petition has been examined, verified, and found by City staff to meet the requirements of the Code, to substantially
comply with the City's policy for Tax Increment Reinvestment Zones (with the waivers stipulated by City Council), and to be sufficient for
consideration by the City Council.
The Veale Ranch TIF comprises approximately 5,200 acres of land located north of Bear Creek Drive, east of Farm Market 1187, south of Alecto
Road, and west of Highway 377 South, as more particularly described in Exhibit A of the attached ordinance. The Veale Ranch TIF is being
considered to accomplish the Development, including (i) offsetting or paying a portion of any assessments levied within the Development to
acheive a desired tax rate equivalent for the Veale Ranch PID for each Improvement Area; (ii) provide incremental funding for public infrastructure
not funded by, or in lieu of, the Veale Ranch 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 Veale Ranch TIF.
The attached ordinance provides that the City will contribute 65% of its tax increment to the Veale Ranch TIF each year that it is in existence,
subject to any escalations and a thirty-year limitation for each phase of Development as set forth in the final project and financing plans and the
Agreement.
The Veale Ranch TIF will become effective on the date that the City Council adopted the attached Ordinance and will terminate on the earlier of (i)
December 31, 2105 or an earlier termination date designated by an ordinance adopted after the effective date of the attached Ordinance or (ii)
the date on which all project costs, tax increment bonds and interest on those bonds have been paid or otherwise satisfied in full. Revenue from
the Veale Ranch TIF will be collected and deposited over a period of eight -two (82) years with the final year being solely dedicated to winding
down the Veale Ranch TIF.
Per the Code, a public hearing is required to establish the Veale Ranch TIF, Notice of this public hearing was published in a newspaper of general
circulation in both the corporate boundaries and extra -territorial jurisdiction of the City at least seven days prior to this meeting.
The City Council also acknoweldge that the Preliminary Project and Financing Plans for the Veale Ranch TIF have been prepared on its behalf and
are on file with Clty staff.
The proposed Veale Ranch TIF is located in the City's corporate Iimits 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 1 CERTIFICATION:
The Director of Finance certifies that approval of these recommendations will have no material effect on City funds.
Submitted for Citv Manauer's Office bv: William Johnson 5806
Oriuinatina Business unit Head: Robert Sturns 2663
Additional Information Contact: Michael Hennig 6024
Expedited
Exhibit B
Project and Financing Plan
TAX INCREMENT REINVESTMENT ZONE
NUMBER SIXTEEN
CITY OF FORT WORTH, TEXAS
(VEALE RANCH TIF)
PROJECT PLAN
AND
FINANCING PLAN
November 14 , 2023
PREPARED BY:
MUNICAP, 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............................................................................................................... I
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......................................................................................................... 5
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 "Property"). 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 for
MuniCap 11
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 "Preliminary 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 (Veale 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 City Council, taking into consideration the recommendations of the Board, approved the Final
Plan in 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
Buildout 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 1-13 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 January 1, 2051 Base Value'
January 1, 2051
January 31, 2051.
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 COLLECTION PROCED URES
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 i£
• 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: https:llcomptroller.texas.gov/taxes/property-tax/valuing property.php
MuniCap 15
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 for unpaid tax bills.
2.5 PENALTIES AND INTEREST
According to the Texas Comptroller, if taxes are not paid by January 3Pt, penalties and
interest will accrue are shown in Table 2-B.
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%
July
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.
MuniCap 17
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&O)
(I&S)
(Total)
2018-19
0.616753
0.168247
0.785000
2019-20
0.595000
0.152500
0.747500
2020-21
0.595000
0.152500
0.747500
2021-22
0.585000
0.147500
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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MuniCap 18
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.
Propertv 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 19
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.
Jurisdiction
City of Fort Worth
Table 4-A
Projected Incremental Tax Revenue
Total Projected
Total Projected Annual Incremental
Incremental Value Tax Revenue at
during the Term of
the TIRZ
$302,459,948
Buildout (Due by
January 31, 2051)
$88,274,744
Total Projected
Incremental Tax
Revenue during
the Term of the
TIRZ
$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
Total Projected
Incremental Tax
Revenue during
the Term of the
Jurisdiction TIRZI
City of Fort Worth $2,698,731,244
Table 4-B
Projected TIRZ Contribution
Total Projected
Incremental Tax
Revenue Available
for payment of
Project Costs'
$1,754,175,308
Total Projected
Incremental Tax
Revenue
Retained by the
Clty3
$944,555,935
Total Projected
Incremental Tax
Revenue
Retained by the
City after release
from TIRZ
ObllgatlonS4
$7,087,059,042
'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.
'Represents the total projected incremental tax revenue available for the City after payment of Project Costs.
a 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
Total
Projected
Incremental
Tax Revenue
Retained by
the City at the
end of the
Terms
$8,031,614,977
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.
II. 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 (30tn) 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.
(the remainder of this page is intentionally left blank)
MuniCap 117
S. ASSUMPTIONAND 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.
3. 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.
(the remainder of this page is intentionally left blank)
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
A
re ti
rs
1
Feeds the N
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y
46
Big HOT, Travel Center_. -
a
MARKUM
RANCH ♦ tza
Z. - W
yr
� V L � s � U i ''�'t •
hhestone Golf "
i
,J dr:• •North.
Holid pPark
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1 TE M S. •'
EXHIBIT B
DESCRIPTION OF THE PROPERTY - LEGAL DESCRIPTIONS
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Legal Descriptions
Property ID I Acerage' I 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 O RR CO SURVEY Abstract 1565 Tract 2
4914287
4.9200
LANGSTON, ELIZABETH 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 I A1842 TR I & A 623 TR 3A, CITY BOUNDARY SPl
40549860
1.0000
LANE, HENRY SURVEY Abstract 928 Tract IAl IA2 1B 1132A 113213 1132C1 1F & 1G HS
41302796
16.0000
SOCORRO FARMING COSURVEY Abstract 1842 Tract I & A1900 TR I
41460901
15.0000
LANE, HENRY SURVEY Abstract 928 Tract IAIA IA3 1132 1133 1D & TR 1E
42231491
2.1900
FINLEY, D T SURVEY Abstract 1900 Tract 1
42241225
40.1600
FINLEY, D T SURVEY Abstract 1903 Tract IAl
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 I A1842 TR I & 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 IA6
42346248
0.2100
DIXON, DAN H SURVEY Abstract 442 Tract IA4C
42491221
13.5000
DIXON, DAN H SURVEY Abstract 442 Tract lA04D SEPARATED TRACT
42502339
15.0000
LANE, HENRY SURVEY Abstract 928 Tract IA1 IA2 1B 1132A 1B213 1132C1 1F & 1G LESS HS
42721243
111.1970
T & N O RR CO SURVEY Abstract 1565 Tract 2B
42721413
23.8500
FINLEY, D T SURVEY Abstract 1901 Tract 2A1
42721430
24.4200
ROGERS, T F SURVEY Abstract 1357 Tract 113
42724447
81.3700
ROGERS, T F SURVEY Abstract 1357 Tract lAl
42724455
5.2900
TAYLOR, EDWARD SURVEY Abstract 1560 Tract IA3A & A1903 TR lA1C
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 ID SEPARATED TRACT
42797321
961.5110
LANE, HENRY SURVEY Abstract 1991P Tract 1 & I BAL IN PARKER
42797339
387.0770
S A & M G RR CO SURVEY Abstract 1479 Tract I
42797347
145.0000
ATKINS, WILLIAM SURVEY Abstract 1961 Tract IA
42797517
0.5580
FINLEY, D T SURVEY Abstract 1903 Tract IC
42797525
163.0330
FINLEY, D T SURVEY Abstract 1903 Tract ID
42820578
19.9800
DIXON, DAN H SURVEY Abstract 442 Tract ID
42820586
13.2400
DIXON, DAN H SURVEY Abstract 442 Tract lE
42820616
41.3900
PROCTOR, NATHAN SURVEY Abstract 1229 Tract I
42820624
0.1380
PROCTOR, NATHAN SURVEY Abstract 1229 Tract I SEPARATED TRACT
42820632
13.2670
G H & H R RR CO SURVEY Abstract 623 Tract I
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 IA1D SEPARATED TRACT
42894792
11.5000
ROGERS, T F SURVEY Abstract 1357 Tract lAIA SEPARATED TRACT
42894806
1.8590
VENTANA Block 12 Lot I 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 HS/BAL 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 lA 1B1 1B4 & 1B5
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 I
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 1C
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
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 (Veale Ranch)
Exhibit C-1.1: Proiected Assessed Value - 2025 DevelonmentI
Development
Year
Ending
Assessed
As Of
2.0%
Inflation
Factor
Units
Residential
Single Family Residential
Value Per Projected
Unit Assessed Value Sq Ft
Multi -Family
Value Per
Sq Ft
Projected
Assessed Value
Total Projected
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$512,000
$0
0
$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
$186,186,291
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
234,783,841
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 (Veale Ranch)
Exhibit C-1.2: Proiected Assessed Value - 2026 DeveloDmentl
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
Sq Ft
Assessed Value
Sq Ft3
Sq Ft
Assessed Value
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
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-Dec-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-Dec-29
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-Dec-32
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-Dec-35
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-Dec-37
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-Dec-39
1-Jan-40
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-Jan-41
140%
265
$716,924
$189,910,016
103,024
$304
$31,332,041
645,373
$87
$55,869,832
277,111,890
31-Dec-41
1-Jan-42
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-Jan-43
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-Jan-44
149%
265
$760,805
$201,534,029
103,024
$323
$33,249,813
645,373
$92
$59,289,513
294,073,354
31-Dec44
1-Jan-45
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-Jan-46
155%
265
$791,542
$209,676,004
103,024
$336
$34,593,105
645,373
$96
$61,684,809
305,953,918
31-Dec-46
1-Jan-47
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-Jan-48
161%
265
$823,520
$218,146,914
103,024
$349
$35,990,666
645,373
$99
$64,176,876
318,314,456
31-Dec-48
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-Dec-52
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-Dec-55
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
'Assumes an annual inflation factor of 2.0%.
3Provided 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:
Development
Year
Ending
Projected Assessed Value
2.0%
Assessed Inflation
As Oft Factm2
- 2027 Develonmentl
Residential
Single Family Residential
Value Per Projected
Units' Unit Assessed Value Sq Ft'
Multi -Family
Value Per
Sq Ft
Projected
Assessed Value
Sq Ft'
Industrial
Value Per
Sq Ft
Commercial
Projected
Assessed Value Sq Ft3
Office
Value Per
Sq Ft
Projected
Assessed Value
Total Projected
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
31-Dec-24
1-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
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
31-Dec-26
1-Jan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
$0
0
31-Dec-27
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
110%
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
1-Jan-30
113%
328
$576,595
$189,000,205
450,413
$245
$110,168,925
645,373
$70
$44,934,041
261,360
$206
$53,961,198
398,064,370
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
$55,040,422
406,025,658
31-Dec-31
1-Jan-32
117%
328
$599,890
$196,635,813
450,413
$254
$114,619,750
645,373
$72
$46,749,376
261,360
$215
$56,141,231
414,146,171
31-Dec-32
1-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-Dec-33
1-Jan-34
122%
328
$624,125
$204,579,900
450,413
$265
$119,250,388
645,373
$75
$48,638,051
261,360
$223
$58,409,337
430,877,676
31-Dec-34
1-Jan-35
124%
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-Dec-35
1-Jan-36
127%
328
$649,340
$212,844,928
450,413
$275
$124,068,104
645,373
$78
$50,603,029
261,360
$233
$60,769,074
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-Dec-37
1-Jan-38
132%
328
$675,573
$221,443,863
450,413
$287
$129,080,455
645,373
$82
$52,647,391
261,360
$242
$63,224,144
466,395,854
31-Dec-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-Dec-39
1-Jan40
137%
328
$702,866
$230,390,195
450,413
$298
$134,295,305
645,373
$85
$54,774,345
261,360
$252
$65,778,400
485,238,246
31-Dec40
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-Dec4l
1-Jan42
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
504,841,871
31-Dec42
1-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
1-Jan44
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-Dec44
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
1-Jan46
155%
328
$791,542
$259,456,780
450,413
$336
$151,238,326
645,373
$96
$61,684,809
261,360
$283
$74,077,162
546,457,077
31-Dec46
1-Jan-47
158%
328
$807,372
$264,645,915
450,413
$342
$154,263,093
645,373
$97
$62,918,506
261,360
$289
$75,558,705
557,386,219
31-Dec-47
1-Jan48
161%
328
$823,520
$269,938,834
450,413
$349
$157,348,354
645,373
$99
$64,176,876
261,360
$295
$77,069,879
568,533,943
31-Dec48
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
1-Jan-51
171%
328
$873,926
$286,461,250
450,413
$371
$166,979,333
645,373
$106
$68,105,014
261,360
$313
$81,787,172
603,332,769
31-Dec-51
1-Jan-52
174%
328
$891,404
$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%
328
$909,232
$298,034,284
450,413
$386
$173,725,298
645,373
$110
$70,856,456
261,360
$326
$85,091,374
627,707,413
31-Dec-53
1-Jan-54
181%
328
$927,417
$303,994,970
450,413
$393
$177,199,803
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
$184,358,676
645,373
$117
$75,193,438
261,360
$345
$90,299,647
666,128,128
31-Dec-56
1-Jan-57
192%
328
$984,182
$322,601,894
450,413
$417
$188,045,849
645,373
$119
$76,697,307
261,360
$352
$92,105,640
679,450,690
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-1.4
PROJECTED TAXABLE VALUE - 2028 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit C-1.4: Proiected Assessed Value - 2028 Develonmentl
Residential
Commercial
Development
2.0%
Single Family Residential
Multi -Family
Industrial
Office
Retail (Big
Box)
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Endin
As Of`
Factory
Units'
Unit
Assessed Value
Sq Ft'
S�� Ft
Assessed Value
Sq Ft'
Sff�� Ft
42
Assessed Value
Sq Ft'
S��{{Ft
A.
Assessed Value
Sq Ft'
S I Ft
43
Assessed Value
Assessed Value
31-Dec13
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$0
0
$0
0
$0
0
31-Dec-24
1-Jan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
31-Dec-26
1-Jan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
$0
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
31-Dec-28
1-Jan-29
110%
400
$565,289
$226,074,541
450,413
$240
$108,008,750
645,373
$68
$44,052,982
261,360
$202
$52,903,136
43,560
$92
$3,999,034
435,038,443
31-Dec-29
1-Jan-30
113%
400
$576,595
$230,596,032
450,413
$245
$110,168,925
645,373
$70
$44,934,041
261,360
$206
$53,961,198
43,560
$94
$4,079,015
443,739,212
31-Dec-30
1-Jan-31
115%
400
$588,127
$235,207,953
450,413
$249
$112,372,304
645,373
$71
$45,832,722
261,360
$211
$55,040,422
43,560
$96
$4,160,595
452,613,997
31-Dec-31
1-Jan-32
117%
400
$599,890
$239,912,112
450,413
$254
$114,619,750
645,373
$72
$46,749,376
261,360
$215
$56,141,231
43,560
$97
$4,243,807
461,666,276
31-Dec-32
1-Jan-33
120%
400
$611,887
$244,710,354
450,413
$260
$116,912,145
645,373
$74
$47,684,364
261,360
$219
$57,264,056
43,560
$99
$4,328,683
470,899,602
31-Dec-33
1-Jan-34
122%
400
$624,125
$249,604,561
450,413
$265
$119,250,388
645,373
$75
$48,638,051
261,360
$223
$58,409,337
43,560
$101
$4,415,257
480,317,594
31-Dec-34
1-Jan-35
124%
400
$636,608
$254,596,652
450,413
$270
$121,635,396
645,373
$77
$49,610,812
261,360
$228
$59,577,523
43,560
$103
$4,503,562
489,923,946
31-Dec-35
1-Jan-36
127%
400
$649,340
$259,688,585
450,413
$275
$124,068,104
645,373
$78
$50,603,029
261,360
$233
$60,769,074
43,560
$105
$4,593,634
499,722,425
31-Dec-36
1-Jan-37
129%
400
$662,327
$264,882,357
450,413
$281
$126,549,466
645,373
$80
$51,615,089
261,360
$237
$61,984,455
43,560
$108
$4,685,506
509,716,873
31-Dec-37
1-Jan-38
132%
400
$675,573
$270,180,004
450,413
$287
$129,080,455
645,373
$82
$52,647,391
261,360
$242
$63,224,144
43,560
$110
$4,779,216
519,911,211
31-Dec-38
1-Jan-39
135%
400
$689,085
$275,583,604
450,413
$292
$131,662,064
645,373
$83
$53,700,339
261,360
$247
$64,488,627
43,560
$112
$4,874,801
530,309,435
31-Dec-39
1-Jan40
137%
400
$702,866
$281,095,276
450,413
$298
$134,295,305
645,373
$85
$54,774,345
261,360
$252
$65,778,400
43,560
$114
$4,972,297
540,915,624
31-Dec-40
1-Jan-41
140%
400
$716,924
$286,717,182
450,413
$304
$136,981,212
645,373
$87
$55,869,832
261,360
$257
$67,093,968
43,560
$116
$5,071,743
551,733,936
31-Dec-41
1-Jan42
143%
400
$731,262
$292,451,526
450,413
$310
$139,720,836
645,373
$88
$56,987,229
261,360
$262
$68,435,847
43,560
$119
$5,173,177
562,768,615
31-Dec-42
1-Jan-43
146%
400
$745,887
$298,300,556
450,413
$316
$142,515,252
645,373
$90
$58,126,974
261,360
$267
$69,804,564
43,560
$121
$5,276,641
574,023,987
31-Dec-43
1-Jan-44
149%
400
$760,805
$304,266,567
450,413
$323
$145,365,558
645,373
$92
$59,289,513
261,360
$272
$71,200,655
43,560
$124
$5,382,174
585,504,467
31-Dec-44
1-Jan-45
152%
400
$776,021
$310,351,899
450,413
$329
$148,272,869
645,373
$94
$60,475,303
261,360
$278
$72,624,669
43,560
$126
$5,489,817
597,214,556
31-Dec-45
1-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
$129
$5,599,614
609,158,847
31-Dec-46
1-Jan-47
158%
400
$807,372
$322,890,115
450,413
$342
$154,263,093
645,373
$97
$62,918,506
261,360
$289
$75,558,705
43,560
$131
$5,711,606
621,342,024
31-Dec-47
1-Jan48
161%
400
$823,520
$329,347,918
450,413
$349
$157,348,354
645,373
$99
$64,176,876
261,360
$295
$77,069,879
43,560
$134
$5,825,838
633,768,865
31-Dec-48
1-Jan-49
164%
400
$839,990
$335,934,876
450,413
$356
$160,495,322
645,373
$101
$65,460,413
261,360
$301
$78,611,277
43,560
$136
$5,942,355
646,444,242
31-Dec-49
1-Jan-50
167%
400
$856,790
$342,653,573
450,413
$363
$163,705,228
645,373
$103
$66,769,621
261,360
$307
$80,183,502
43,560
$139
$6,061,202
659,373,127
31-Dec-50
1-Jan-51
171%
400
$873,926
$349,506,645
450,413
$371
$166,979,333
645,373
$106
$68,105,014
261,360
$313
$81,787,172
43,560
$142
$6,182,426
672,560,590
31-Dec-51
1-Jan-52
174%
400
$891,404
$356,496,778
450,413
$378
$170,318,919
645,373
$108
$69,467,114
261,360
$319
$83,422,916
43,560
$145
$6,306,074
686,011,801
31-Dec-52
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-Dec-53
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-Dec-54
1-Jan-55
185%
400
$945,965
$378,317,233
450,413
$401
$180,743,800
645,373
$114
$73,719,057
261,360
$339
$88,529,066
43,560
$154
$6,692,057
728,001,212
31-Dec-55
1-Jan-56
188%
400
$964,885
$385,883,577
450,413
$409
$184,358,676
645,373
$117
$75,193,438
261,360
$345
$90,299,647
43,560
$157
$6,825,898
742,561,236
31-Dec-56
1-Jan-57
192%
400
$984,182
$393,601,249
450,413
$417
$188,045,849
645,373
$119
$76,697,307
261,360
$352
$92,105,640
43,560
$160
$6,962,416
757,412,461
31-Dec-57
1-Jan-58
196%
400
$1,003,866
$401,473,274
450,413
$426
$191,806,766
645,373
$121
$78,231,253
261,360
$359
$93,947,753
43,560
$163
$7,101,664
772,560,710
MuniCap. Inc.
'According to the Parker CountyAppraisal 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 constmction.
'Assumes an annual inflation factor of2.0%.
'Provided by the Developer.
EXHIBIT C-1.5
PROJECTED TAXABLE VALUE - 2029 DEVELOPMENT
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y r h r h r h r h r h r h r h r h h2 —2 —2 — h h
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5
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0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
o�
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3
EXHIBIT C-1.6
PROJECTED TAXABLE VALUE - 2030 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1.6: Proieeted Assessed Value - 2030 Develonfnentl
Residential
Commercial
Development
2.0%
Single Family Residential
Mulu-Family
Industrial
O®ee
MCA (Big Be,)
Retail (Pad/Inlme)
Year
Assessed
Inflation
Value Per
Prjected
Value Per
Projected
Value Per
Profited
Value Per
Prjected
Value Per
Projected
Value Per
P jetted
ToialP jetted
Ending
As OP
Factor'
Units'
"
Assessed Value
Sq Ft'
sa F'
Assessed Value
Sq Ft'
Assessed Value
Sq Ft'
s4 r'
Assessed Value
Sq Ft'
Assessed Value
Sq Ft'
Sq Ft'
Assessed Value
Assessed Value
31-Deo-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dec-24
I-Jan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dec-26
14 -27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
SO
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dec-28
1-Jan-29
110%
0
$565,289
$0
0
$240
$0
0
$68
$0
0
$202
SO
0
$92
$0
0
$304
$0
0
31-Dec-29
1-Jan-30
113%
0
$576,595
$0
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-Dec-30
1-Jan-31
115%
400
$588,127
$235,207,953
450,413
$249
$112,372,304
645,373
$71
$45,832,722
261,360
$2ll
$55,040,422
45,738
$96
$4,368,625
32,670
$316
$10,320,079
463,142,106
31-Dec-31
1-Jan-32
117%
400
$599,890
$239,912,112
450,413
$254
$114,619,750
645,373
$72
$46,749,376
261,360
$215
$56,141,231
45,738
$97
$4,455,998
32,670
$322
$10,526,481
472,404,948
31-Dec-32
1-Jan-33
120%
400
$611,887
$244,710,354
450,413
$260
$116,912, 145
645,373
$74
$47,684,364
261,360
$20
557,264,056
45,738
$99
$4,545,118
32,670
$329
$10,737,010
481,853,047
31-Dec-33
1-Jan-34
122%
400
$624,125
$249,604,561
450,413
$265
$119,250,388
645,373
$75
$48,638,051
261,360
$223
$58,409,337
45,738
$101
$4,636,020
32,670
$335
$10,951,751
491,490,108
31-Dec-34
1-Jan-35
124%
400
$636,608
$254,596,652
450,413
$270
$121,635,396
645,373
$77
$49,610,812
261,360
$228
559,577,523
45,738
$103
$4,728,740
32,670
$342
$11,170,786
501,319,910
31-Dec-35
1-Jan-36
127%
400
$649,340
$259,688,585
450,413
$275
$124,068,104
645,373
$78
$50,603,029
261,360
$233
$60,769,074
45,738
$105
$4,823,315
32,670
$349
$11,394,201
511,346,308
31-Dec-36
1-Jan-37
129%
400
$662,327
$264,882,357
450,413
$28l
$126,549,466
645,373
$80
$51,615,089
261,360
$237
561,984,455
45,738
$108
$4,919,781
32,670
$356
$11,622,085
521,573,234
31-Dec-37
1-Jan-38
132%
400
$675,573
$270,180,004
450,413
$287
$129,080,455
645,373
$82
$52,647,391
261,360
$242
$63,224,144
45,738
$110
$5,018,177
32,670
$363
$11,854,527
532,004,699
31-Dec-38
1-Jan-39
135%
400
$689,085
$275,583,604
450,413
$292
$131,662,064
645,373
$83
$53,700,339
261,360
$247
564,488,627
45,738
$112
$5,118,541
32,670
$370
$12,091,618
542,644,793
31-Dec-39
1-Jan4O
137%
400
$702,866
$281,095,276
450,413
$298
$134,295,305
645,373
$85
$54,774,345
261,360
$252
$65,778,400
45,738
$114
$5,220,911
32,670
$378
$12,333,450
553,497,689
31-Dec40
1-Jan41
140%
400
$716,924
$286,717,182
450,413
$304
$136,981,212
645,373
$87
$55,869,832
261,360
$257
$67,093,968
45,738
$116
$5,325,330
32,670
$385
$12,580,119
564,567,642
31-Dec4l
1-Jan42
143%
400
$731,262
$292,451,526
450,413
$310
$139,720,836
645,373
$88
$56,987,229
261,360
$262
$68,435,847
45,738
$119
$5,431,836
32,670
$393
$12,831,721
575,858,995
31-Dec-02
1-Jan43
146%
400
$745,887
$298,300,556
450,413
$316
$142,515,252
645,373
$90
$58,126,974
261,360
$267
$69,804,564
45,738
$121
$5,540,473
32,670
$401
$13,088,356
587,376,175
31-Dec43
1-Jan44
149%
400
$760,805
$304,266,567
450,413
$323
$145,365,558
645,373
$92
$59,289,513
261,360
$272
$71,200,655
45,738
$124
$5,651,282
32,670
$409
$13,350,123
599,123,699
31-Dec-04
1-Jan45
152%
400
$776,021
$310,351,899
450,413
$329
$148,272,869
645,373
$94
$60,475,303
261,360
$278
$72,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
611,106,173
31-Dec45
1-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
45,738
$129
$5,879,594
32,670
$425
$13,889,468
623,328,296
31-Dec46
1-Jan47
158%
400
$807,372
$322,890,115
450,413
$342
$154,263,093
645,373
$97
$62,918,506
261,360
5289
575,558,705
45,738
$131
$5,997,186
32,670
$434
$14,167,257
635,794,862
31-Dec47
1-Jan48
161%
400
$823,520
$329,347,918
450,413
$349
$157,348,354
645,373
$99
$64,176,876
261,360
5295
$77,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
648,510,759
31-Dec-48
1-Jan49
164%
400
$839,990
$335,934,876
450,413
$356
$160,495,322
645,373
$101
$65,460,413
261,360
5301
578,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
661,480,974
31-Dec49
1-Jan-50
167%
400
$856,790
$342,653,573
450,413
$363
$163,705,228
645,373
$103
$66,769,621
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
674,710,594
31-Dec-50
1-Jan-51
171%
400
$873,926
$349,506,645
450,413
$37l
$166,979,333
645,373
$106
$68,105,014
261,360
$3l3
$81,787,172
45,738
$142
$6,491,547
32,670
$469
$15,335,095
688,204,806
31-Dec-51
1-Jan-52
174%
400
$891,404
$356,496,778
450,413
$378
$170,318,919
645,373
$108
$69,467,114
261,360
$319
$83,422,916
45,738
$145
$6,621,378
32,670
$479
$15,641,797
701,968,902
31-Dec-52
1-Jan-53
178%
400
$909,232
$363,626,713
450,413
$386
5173,725,298
645,373
$110
$70,856,456
261,360
$326
585,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
716,008,280
31-Dec-53
1-Jaa-54
181%
400
$927,417
$370,899,248
450,413
$393
$177,199,803
645,373
$112
$72,273,586
261,360
$332
586,793,202
45,738
$151
$6,888,882
32,670
$498
$16,273,725
730,328,445
31-Dec-54
1-Jan-55
185%
400
$945,965
$378,317,233
450,413
$40l
St80,743,800
645,373
$114
$73,719,057
261,360
$339
588,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
744,935,014
31-Dec-55
1-Jan-56
188%
400
$964,885
$385,883,577
450,413
$409
$184,358,676
645,373
$117
$75,193,438
261,360
$345
$90,299,647
45,738
$157
$7,167,193
32,670
$518
$16,931,184
759,833,715
31-Dec-56
1-3an-57
192%
400
$984,182
$393,601,249
450,413
5417
$188,045,849
645,373
$119
$76,697,307
261,360
$352
S92,105,640
45,738
$160
$7,310,536
32,670
$529
$17,269,807
775,030,389
31-Dec-57
1-Jan-58
196%
400
$1,003,866
$401,473,274
450,413
$426
$191,806,766
645,373
$121
$78,231,253
261,360
$359
$93,947,753
45,738
$163
$7,456,747
32,670
$539
$17,615,204
790,530,997
31-Dec-58
1-3an-59
200%
400
$1,023,943
$409,502,739
450,413
5434
$195,642,901
645,373
$124
$79,795,878
261,360
$367
$95,826,708
45,738
$166
$7,605,882
32,670
$550
$17,967,508
806,341,6t7
31-Dec-59
1-Jaa-60
204%
400
$1,044,422
$417,692,794
450,413
$443
$199,555,759
645,373
$126
$81,391,796
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
822,468,449
0
M-CaP,1-
'Accordi,W theParker
Cowry Appraisal Duum and Tamnt
Count Appraisal Duum property
is assessed asoflanuary
lamually. During
co con,theassessetl value represmis fie
ponion ofNe building
compleletl as
oflanuaryl Assumes no
asee.¢dvalue duringro
ruction.
'Assumes an annual inflation tiGor of2.0%.
'Provid,d by the Developer.
EXHIBIT C-1.7
PROJECTED TAXABLE VALUE - 2031 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1.7: Pmieeted Assessed Value -
Development 2.0%
Year Assessed Inflation
Ending As OP Factor'
2031 Develonmeutl
Residential
Single Family Residential
Value Per Prjected
Units' " Assessed Value Sq Ft'
Mulu-Family
Value Per
sa F'
Projected
Assessed Value
Sq Ft'
Industnal
Value Per
Projected
Assessed Value
Sq Ft'
O®ee
Value Per
s4 r'
Commercial
Prjected
Assessed Value Sq Ft'
Ret ut (Big Be,)
Value Per Projected
Assessed Value
Sq Ft'
Retail (Pad/Inlme)
Value Per P jetted
Sq Ft' Assessed Value
Total P jetted
Assessed Value
31-D-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dec-24
I-Jan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dec-26
14 -27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
SO
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dec-28
1-Jan-29
110%
0
$565,289
$0
0
$240
$0
0
$68
$0
0
$202
SO
0
$92
$0
0
$304
SO
0
31-Dec-29
1-Jan-30
113%
0
$576,595
$0
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-Dec-30
1Jan-31
115%
0
$588,127
$0
0
$249
$0
0
$71
$0
0
$211
SO
0
$96
$0
0
$316
$0
0
31-Dec-31
1-Jan-32
117%
400
$599,890
$239,912,112
450,413
$254
$114,619,750
645,373
$72
$46,749,376
261,360
$215
$56,141,231
45,738
$97
$4,455,998
32,670
$322
$10,526,481
472,404,948
31-Dec-32
1-Jan-33
120%
400
$611,887
$244,710,354
450,413
$260
$116,912, 145
645,373
$74
$47,684,364
261,360
$20
557,264,056
45,738
$99
$4,545,118
32,670
$329
$10,737,010
481,853,047
31-Dec-33
1-Jan-34
122%
400
$624,125
$249,604,561
450,413
$265
$119,250,388
645,373
$75
$48,638,051
261,360
$223
$58,409,337
45,738
$101
$4,636,020
32,670
$335
$10,951,751
491,490,108
31-Dec-34
1-Jan-35
124%
400
$636,608
$254,596,652
450,413
$270
$121,635,396
645,373
$77
$49,610,812
261,360
$228
559,577,523
45,738
$103
$4,728,740
32,670
$342
$11,170,786
501,319,910
31-Dec-35
1-Jan-36
127%
400
$649,340
$259,688,585
450,413
$275
$124,068,104
645,373
$78
$50,603,029
261,360
$233
$60,769,074
45,738
$105
$4,823,315
32,670
$349
$11,394,201
511,346,308
31-Dec-36
1-Jan-37
129%
400
$662,327
$264,882,357
450,413
$28l
$126,549,466
645,373
$80
$51,615,089
261,360
$237
S61,984,455
45,738
$108
$4,919,781
32,670
$356
$11,622,085
521,573,234
31-Dec-37
1-Jan-38
132%
400
$675,573
$270,180,004
450,413
$287
$129,080,455
645,373
$82
$52,647,391
261,360
$242
$63,224,144
45,738
$110
$5,018,177
32,670
$363
$11,854,527
532,004,699
31-Dec-38
1-Jan-39
135%
400
$689,085
$275,583,604
450,413
$292
$131,662,064
645,373
$83
$53,700,339
261,360
$247
$64,488,627
45,738
$112
$5,118,541
32,670
$370
$12,091,618
542,644,793
31-Dec-39
1-Jan4O
137%
400
$702,866
$281,095,276
450,413
$298
$134,295,305
645,373
$85
$54,774,345
261,360
$252
$65,778,400
45,738
$114
$5,220,911
32,670
$378
$12,333,450
553,497,689
31-Dec40
1-Jan41
140%
400
$716,924
$286,717,182
450,413
$304
$136,981,212
645,373
$87
$55,869,832
261,360
$257
$67,093,968
45,738
$116
$5,325,330
32,670
$385
$12,580,119
564,567,642
31-Dec4l
1-Jan42
143%
400
$731,262
$292,451,526
450,413
$310
$139,720,836
645,373
$88
$56,987,229
261,360
$262
$68,435,847
45,738
$119
$5,431,836
32,670
$393
$12,831,721
575,858,995
31-Dec-02
1-Jan43
146%
400
$745,887
$298,300,556
450,413
$316
$142,515,252
645,373
$90
$58,126,974
261,360
$267
$69,804,564
45,738
$121
$5,540,473
32,670
$401
$13,088,356
587,376,175
31-Dec43
1-Jan44
149%
400
$760,805
$304,266,567
450,413
$323
$145,365,558
645,373
$92
$59,289,513
261,360
$272
$71,200,655
45,738
$124
$5,651,282
32,670
$409
$13,350,123
599,123,699
31-Dec-04
1-Jan45
152%
400
$776,021
$310,351,899
450,413
$329
$148,272,869
645,373
$94
$60,475,303
261,360
$278
$72,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
611,106,173
31-Dec45
1-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
45,738
$129
$5,879,594
32,670
$425
$13,889,468
623,328,296
31-Dec46
1-Jan47
158%
400
$807,372
$322,890,115
450,413
$342
$154,263,093
645,373
$97
$62,918,506
261,360
5289
575,558,705
45,738
$131
$5,997,186
32,670
$434
$14,167,257
635,794,862
31-Dec47
1-Jan48
161%
400
$823,520
$329,347,918
450,413
$349
$157,348,354
645,373
$99
$64,176,876
261,360
5295
$77,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
648,510,759
31-Dec48
1-Jan49
164%
400
$839,990
$335,934,876
450,413
$356
$160,495,322
645,373
$101
$65,460,413
261,360
5301
578,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
661,480,974
31-Dec49
1-Jan-50
167%
400
$856,790
$342,653,573
450,413
$363
$163,705,228
645,373
$103
$66,769,621
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
674,710,594
31-Dec-50
1-Jan-51
171%
400
$873,926
$349,506,645
450,413
$37l
$166,979,333
645,373
$106
$68,105,014
261,360
$3l3
$81,787,172
45,738
$142
$6,491,547
32,670
$469
$15,335,095
688,204,806
31-13ec-51
1-Jan-52
174%
400
$891,404
$356,496,778
450,413
$378
$170,318,919
645,373
$108
$69,467,114
261,360
$319
$83,422,916
45,738
$145
$6,621,378
32,670
$479
$15,641,797
701,968,902
31-Dec-52
1-Jan-53
178%
400
$909,232
$363,626,713
450,413
$386
5173,725,298
645,373
$110
$70,856,456
261,360
$326
585,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
716,008,280
31-Dec-53
1-Jaa-54
181%
400
$927,417
$370,899,248
450,413
$393
$177,199,803
645,373
$112
$72,273,586
261,360
$332
586,793,202
45,738
$151
$6,888,882
32,670
$498
$16,273,725
730,328,445
31-Dec-54
1-Jan-55
185%
400
$945,965
$378,317,233
450,413
$40l
St80,743,800
645,373
$114
$73,719,057
261,360
$339
588,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
744,935,014
31-Dec-55
1-Jan-56
188%
400
$964,885
$385,883,577
450,413
$409
$184,358,676
645,373
$117
$75,193,438
261,360
$345
$90,299,647
45,738
$157
$7,167,193
32,670
$518
$16,931,184
759,833,715
31-Dec-56
1-Jan-57
192%
400
$984,182
$393,601,249
450,413
$417
$188,045,849
645,373
$119
$76,697,307
261,360
$352
S92,105,640
45,738
$160
$7,310,536
32,670
$529
$17,269,807
775,030,389
31-Dec-57
1-Jan-58
196%
400
$1,003,866
$401,473,274
450,413
$426
$191,806,766
645,373
$121
$78,231,253
261,360
$359
$93,947,753
45,738
$163
$7,456,747
32,670
$539
$17,615,204
790,530,997
31-Dec-58
1Jan-59
200%
400
$1,023,943
$409,502,739
450,413
5434
$195,642,901
645,373
$124
$79,795,878
261,360
$367
$95,826,708
45,738
$166
$7,605,882
32,670
$550
$17,967,508
806,341,617
31-Dec-59
1-Jaa-60
204%
400
$1,044,422
$417,692,794
450,413
$443
$199,555,759
645,373
$126
$81,391,796
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
822,468,449
31-Dec-60
1Jan-61
208%
400
$1,065,311
$426,046,650
450,413
5452
$203,546,875
645,373
$129
$83,019,632
261,360
$381
$99,698JO7
45,738
$173
$7,913,160
32,670
$572
$18,693,395
838,917,818
Munico Inc.
�Accord.gtothe ParkerC.tyApprn.lD-a-dTamar Couat Appraisal lhaurtpropeny rsassess l..fJaaumy l annually Dunng consnvcnom Ne assessedvalue represrnts the p.rn.nof@e burldtag comple[N as ofleauaryl Assumes no asses dvalae dunng construceion.
'Assumes an annual .Flan.. factor of2.0%.
'Pr.n by the Developer.
EXHIBIT C-1.8
PROJECTED TAXABLE VALUE - 2032 DEVELOPMENT
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EXHIBIT C-1.9
PROJECTED TAXABLE VALUE - 2033 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1.9: Proieeted Assessed Value -
Development 2.0%
Year Assessed Inflation
Ending As OP Factor'
2033 Develonmentl
Residential
Single Family Residential
Value Per Prjecled
Units' " Assessed Value Sq Ft'
Mulu-Family
Value Per
sa F'
Projected
Assessed Value
Sq Ft'
Industnal
Value Per
Projected
Assessed Value
Sq Ft'
O®ee
Value Per
s4 r'
Commercial
Prjected
Assessed Value Sq Ft'
Ret ut (Big Be,)
Value Per Projected
Assessed Value
Sq Ft'
Retail (Pad/Inlme)
Value Per P jetted
Sq Ft' Assessed Value
Total P jetted
Assessed Value
31-D-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dec-24
I-Jan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dec-26
14 -27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
SO
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dec-28
1-Jan-29
110%
0
$565,289
$0
0
$240
$0
0
$68
$0
0
$202
SO
0
$92
$0
0
$304
$0
0
31-Dec-29
1-Jan-30
113%
0
$576,595
$0
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-Dec-30
1Jan-31
115%
0
$588,127
$0
0
$249
$0
0
$71
$0
0
$21t
SO
0
$96
$0
0
$316
$0
0
31-Dec-31
1-Jan-32
117%
0
$599,890
$0
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-Dec-32
1Jan-33
120%
0
$611,887
$0
0
$260
$0
0
$74
$0
0
$219
SO
0
$99
$0
0
$329
$0
0
31-Dec-33
1-Jan-34
122%
400
$624,125
$249,604,561
450,413
$265
$119,250,388
645,373
$75
$48,638,051
261,360
$223
$58,409,337
45,738
$101
$4,636,020
32,670
$335
$10,951,751
491,490,108
31-Dec-34
1-Jan-35
124%
400
$636,608
$254,596,652
450,413
$270
$121,635,396
645,373
$77
$49,610,812
261,360
$228
559,577,523
45,738
$103
$4,728,740
32,670
$342
$11,170,786
501,319,910
31-Dec-35
1-Jan-36
127%
400
$649,340
$259,688,585
450,413
$275
$124,068,104
645,373
$78
$50,603,029
261,360
$233
$60,769,074
45,738
$105
$4,823,315
32,670
$349
$11,394,201
511,346,308
31-Dec-36
1-Jan-37
129%
400
$662,327
$264,882,357
450,413
$28l
$126,549,466
645,373
$80
$51,615,089
261,360
$237
561,984,455
45,738
$108
$4,919,781
32,670
$356
$11,622,085
521,573,234
31-Dec-37
1-Jan-38
132%
400
$675,573
$270,180,004
450,413
$287
$129,080,455
645,373
$82
$52,647,391
261,360
$242
$63,224,144
45,738
$110
$5,018,177
32,670
$363
$11,854,527
532,004,699
31-Dec-38
1-Jan-39
135%
400
$689,085
$275,583,604
450,413
$292
$131,662,064
645,373
$83
$53,700,339
261,360
$247
564,488,627
45,738
$112
$5,118,541
32,670
$370
$12,091,618
542,644,793
31-Dec-39
1-Jan4O
137%
400
$702,866
$281,095,276
450,413
$298
$134,295,305
645,373
$85
$54,774,345
261,360
$252
$65,778,400
45,738
$114
$5,220,911
32,670
$378
$12,333,450
553,497,689
31-Dec40
1-Jan41
140%
400
$716,924
$286,717,182
450,413
$304
$136,981,212
645,373
$87
$55,869,832
261,360
$257
$67,093,968
45,738
$116
$5,325,330
32,670
$385
$12,580,119
564,567,642
31-Dec4l
1-Jan42
143%
400
$731,262
$292,451,526
450,413
$310
$139,720,836
645,373
$88
$56,987,229
261,360
$262
$68,435,847
45,738
$119
$5,431,836
32,670
$393
$12,831,721
575,858,995
31-Dec-02
1-Jan43
146%
400
$745,887
$298,300,556
450,413
$316
$142,515,252
645,373
$90
$58,126,974
261,360
$267
$69,804,564
45,738
$121
$5,540,473
32,670
$401
$13,088,356
587,376,175
31-Dec43
1-Jan44
149%
400
$760,805
$304,266,567
450,413
$323
$145,365,558
645,373
$92
$59,289,513
261,360
$272
$71,200,655
45,738
$124
$5,651,282
32,670
$409
$13,350,123
599,123,699
31-Dec-04
1-Jan45
152%
400
$776,021
$310,351,899
450,413
$329
$148,272,869
645,373
$94
$60,475,303
261,360
$278
$72,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
611,106,173
31-Dec45
1-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
45,738
$129
$5,879,594
32,670
$425
$13,889,468
623,328,296
31-Dec46
1-Jan47
158%
400
$807,372
$322,890,115
450,413
$342
$154,263,093
645,373
$97
$62,918,506
261,360
5289
575,558,705
45,738
$131
$5,997,186
32,670
$434
$14,167,257
635,794,862
31-Dec47
1-Jan48
161%
400
$823,520
$329,347,918
450,413
$349
$157,348,354
645,373
$99
$64,176,876
261,360
5295
$77,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
648,510,759
31-Dec48
1-Jan49
164%
400
$839,990
$335,934,876
450,413
$356
$160,495,322
645,373
$101
$65,460,413
261,360
5301
578,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
661,480,974
31-Dec49
1-Jan-50
167%
400
$856,790
$342,653,573
450,413
$363
$163,705,228
645,373
$103
$66,769,621
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
674,710,594
31-Dec-50
1-Jan-51
171%
400
$873,926
$349,506,645
450,413
$37l
$166,979,333
645,373
$106
$68,105,014
261,360
$3l3
$81,787,172
45,738
$142
$6,491,547
32,670
$469
$15,335,095
688,204,806
31-13ec-51
1-Jan-52
174%
400
$891,404
$356,496,778
450,413
$378
$170,318,919
645,373
$108
$69,467,114
261,360
$319
$83,422,916
45,738
$145
$6,621,378
32,670
$479
$15,641,797
701,968,902
31-Dec-52
1-Jan-53
178%
400
$909,232
$363,626,713
450,413
$386
5173,725,298
645,373
$110
$70,856,456
261,360
$326
585,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
716,008,280
31-Dec-53
1-Jaa-54
181%
400
$927,417
$370,899,248
450,413
$393
$177,199,803
645,373
$112
$72,273,586
261,360
$332
586,793,202
45,738
$151
$6,888,882
32,670
$498
$16,273,725
730,328,445
31-Dec-54
1-Jan-55
185%
400
$945,965
$378,317,233
450,413
$40l
St80,743,800
645,373
$114
$73,719,057
261,360
$339
588,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
744,935,014
31-Dec-55
1-Jan-56
188%
400
$964,885
$385,883,577
450,413
$409
$184,358,676
645,373
$117
$75,193,438
261,360
$345
$90,299,647
45,738
$157
$7,167,193
32,670
$518
$16,931,184
759,833,715
31-Dec-56
1-Jan-57
192%
400
$984,182
$393,601,249
450,413
$417
$188,045,849
645,373
$119
$76,697,307
261,360
$352
S92,105,640
45,738
$160
$7,310,536
32,670
$529
$17,269,807
775,030,389
31-D-57
1-Jaa-58
196%
400
$1,003,866
$401,473,274
450,413
$426
$191,806,766
645,373
$121
$78,231,253
261,360
$359
$93,947,753
45,738
$163
$7,456,747
32,670
$539
$17,615,204
790,530,997
31-Dec-58
1Jan-59
200%
400
$1,023,943
$409,502,739
450,413
5434
$195,642,901
645,373
$124
$79,795,878
261,360
$367
$95,826,708
45,738
$166
$7,605,882
32,670
$550
$17,967,508
806,341,6t7
31-Dec-59
1-Jan-60
204%
400
$1,044,422
$417,692,794
450,413
$443
$199,555,759
645,373
$126
$81,391,796
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
822,468,449
31-Dec-60
1Jan-61
208%
400
$1,065,311
$426,046,650
450,413
5452
$203,546,875
645,373
$129
$83,019,632
261,360
5381
599,698JO7
45,738
$173
$7,913,160
32,670
$572
$18,693,395
838,917,818
31-Dec-61
1-Jan-62
212%
400
$1,086,617
$434,567,583
450,413
$461
$207,617,812
645,373
$131
$84,680,025
261,360
$389
$101,692,069
45,738
$176
$8,071,423
32,670
$584
$19,067,263
855,696,174
31-Dec-62
1Jan-63
216%
400
$1,108,349
$443,258,934
450,413
$470
$211,770, 168
645,373
$134
$86,373,625
261,360
$397
$t03,725,9tO
45,738
$180
$8,232,851
32,670
$595
$19,448,608
872,810,098
Mwica Inc.
�Accordmg to the Parker
Cowty Appmisal Dumctaad Tarrant
Count Appraisal Dhsmct property
-ssess l asoflaaumy l ammally Dunng
coruvucnom Ne assessedvalue represrnts the
portion of@e burldtag comple[N as
ofleauaryl Assumes no
asses dvalae dunng
corimvceion.
'Assumes an amual inFlanon factor of2.0%.
'Pr.r by the Developer.
EXHIBIT C-1.10
PROJECTED TAXABLE VALUE - 2034 DEVELOPMENT
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¢ �w�w�w�wwwwwwwwwwwwwwwwwwwww w
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EXHIBIT C-1.11
PROJECTED TAXABLE VALUE - 2035 DEVELOPMENT
wB00000...... ova
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s------------
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y o00000000o n�n�n�n�n�n���n�n�n�n�n���n�n�
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o 0 0 0 0 0 0 0 0 o
y v a a c a c a c a c a c a c a c a v a c a c a c a c v v v v
w�w�w�wwwwwwwwwwwwwwwwwwwww ww
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wd,w d,w d,w d,w d,we � �wd,w d,wwwwwwwwwwwww� °d;Po w�d.�wd.w d.
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a'
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EXHIBIT C-1.12
PROJECTED TAXABLE VALUE - 2036 DEVELOPMENT
w$000000------
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d,w d,w d,w d,w d,w d,w d,w d,wg wwwd,w d,w d,w w,w w,wwwwww wwwwww 2
8
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wa-aa-R Ra-R --a- g
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EXHIBIT C-1.13
PROJECTED TAXABLE VALUE - 2037 DEVELOPMENT
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5
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ad. a d. a w a.A a.A a.r.
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5
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w w�w�w�w�w�w Mg��r
¢
w�-- w- w- w- w- w- w- w- w- w- w- w-w-w-
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8
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a c a c a c a c a c a c a c a v a c a c a c a c a c v e v v
.
wa-aa-R Ra-R .ww -g
„
¢
v v
w�w�wwwwwwwwwwwwwwwwwwwww wwww
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d,w d,w d,w d,w d,w d, d,w d,w d,wwwwwwwwwwwwwww d,�d,�d,�«,�«,� c
ti
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v v v v v v v v v v v v v v v v v v v v v v v v v v v v v v
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- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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EXHIBIT C-1.14
PROJECTED TAXABLE VALUE - 2038 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1 Ina Pr.,i�ted Assessed Value -
Development 2.0%
year Assessed Inflation
Ending As OP Factor'
2038 Develoumentl
Residential
Single Family Residential
Value Per Prjected
Units' n Assessed Value Sq Ft'
Multi -Family
Value Per
sa F'
Projected
Assessed Value
Sq Ft'
Industnal
Value Per
Projected
Assessed Value
Sq Ft'
O®ee
Value Per
sa F'
Commercial
Prjected
Assessed Value Sq Ft'
Reunt (Big Be,)
Value Per Projected
Assessed Value
Sq Ft'
Retail (Pad/Inlme)
Value Per P jetted
Sq Ft' Assessed Value
TOWP jetted
Assessed Value
31-D-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dee-24
I-Jan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dee-26
1-Jan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
SO
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dee-28
1-Jan-29
110%
0
$565,289
$0
0
$240
$0
0
$68
$0
0
$202
SO
0
$92
$0
0
$304
SO
0
31-Dec-29
1-Jau-30
113%
0
$576,595
$0
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-Dee-30
1Jan-31
115%
0
$588,127
$0
0
$249
$0
0
$71
$0
0
$211
SO
0
$96
$0
0
$316
SO
0
31-Dec-31
1-Jau-32
117%
0
$599,890
$0
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-Dee-32
1Jan-33
120%
0
$611,887
$0
0
$260
$0
0
$74
$0
0
$219
SO
0
$99
$0
0
$329
SO
0
31-Dec-33
1-Jau-34
122%
0
$624,125
$0
0
$265
$0
0
$75
$0
0
$223
$0
0
$101
$0
0
$335
$0
0
31-Dee-34
1Jan-35
124%
0
$636,608
$0
0
$270
$0
0
$77
$0
0
5228
SO
0
$103
$0
0
$342
$0
0
31-Dec-35
1-Jau-36
127%
0
$649,340
$0
0
$275
$0
0
$78
$0
0
$233
$0
0
$105
$0
0
$349
$0
0
31-Dee-36
1Jan-37
129%
0
$662,327
$0
0
$281
$0
0
$80
$0
0
5237
SO
0
$108
$0
0
$356
$0
0
31-Dec-37
1-Jan-38
132%
0
$675,573
$0
0
$287
$0
0
$82
$0
0
$242
$0
0
$110
$0
0
$363
$0
0
31-Dee-38
1Jan-39
135%
400
$689,085
$275,583,604
450,413
$292
$131,662,064
645,373
$83
$53,700,339
261,360
5247
$64,488,627
45,738
$112
$5,118,541
32,670
$370
$12,091,618
542,644,793
31-Dec-39
1-Jan4O
137%
400
$702,866
$281,095,276
450,413
$298
$134,295,305
645,373
$85
$54,774,345
261,360
$252
$65,778,400
45,738
$114
$5,220,911
32,670
$378
$12,333,450
553,497,689
31-Dec40
1-Jan41
140%
400
$716,924
$286,717,182
450,413
$304
$136,981,212
645,373
$87
$55,869,832
261,360
5257
$67,093,968
45,738
$116
$5,325,330
32,670
$385
$12,580,119
564,567,642
31-Dec4l
1-Jan42
143%
400
$731,262
$292,451,526
450,413
$310
$139,720,836
645,373
$88
$56,987,229
261,360
$262
$68,435,847
45,738
$119
$5,431,836
32,670
$393
$12,831,721
575,858,995
31-Dec42
1-Jan43
146%
400
$745,887
$298,300,556
450,413
$316
$142,515,252
645,373
$90
$58,126,974
261,360
$267
$69,804,564
45,738
$121
$5,540,473
32,670
$401
$13,088,356
587,376,175
31-Dec43
1-Jan44
149%
400
$760,805
$304,266,567
450,413
$323
$145,365,558
645,373
$92
$59,289,513
261,360
$272
$71,200,655
45,738
$124
$5,651,282
32,670
$409
$13,350,123
599,123,699
31-Dec44
1-Jan45
152%
400
$776,021
$310,351,899
450,413
$329
$148,272,869
645,373
$94
$60,475,303
261,360
$278
$72,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
611,106,173
31-Dec45
1-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
45,738
$129
$5,879,594
32,670
$425
$13,889,468
623,328,296
31-Dec46
1-Jan47
158%
400
$807,372
$322,890,115
450,413
$342
$154,263,093
645,373
$97
$62,918,506
261,360
5289
575,558,705
45,738
$131
$5,997,186
32,670
$434
$14,167,257
635,794,862
31-Dec47
1-Jan48
161%
400
$823,520
$329,347,918
450,413
$349
$157,348,354
645,373
$99
$64,176,876
261,360
5295
$77,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
648,510,759
31-Dec48
1-Jan49
164%
400
$839,990
$335,934,876
450,413
$356
$160,495,322
645,373
$101
$65,460,413
261,360
5301
578,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
661,480,974
31-Dec49
1-Jan-50
167%
400
$856,790
$342,653,573
450,413
$363
$163,705,228
645,373
$103
$66,769,621
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
674,710,594
31-Dec-50
1-Jan-51
171%
400
$873,926
$349,506,645
450,413
$37l
$166,979,333
645,373
$106
$68,105,014
261,360
$3l3
$81,787,172
45,738
$142
$6,491,547
32,670
$469
$15,335,095
688,204,806
31-13ec-51
1-Jan-52
174%
400
$891,404
$356,496,778
450,413
$378
$170,318,919
645,373
$108
$69,467,114
261,360
$319
$83,422,916
45,738
$145
$6,621,378
32,670
$479
$15,641,797
701,968,902
31-Dec-52
1-Jan-53
178%
400
$909,232
$363,626,713
450,413
$386
5173,725,298
645,373
$110
$70,856,456
261,360
$326
585,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
716,008,280
31-Dec-53
1-Jau-54
181%
400
$927,417
$370,899,248
450,413
$393
$177,199,803
645,373
$112
$72,273,586
261,360
$332
586,793,202
45,738
$151
$6,888,882
32,670
$498
$16,273,725
730,328,445
31-Dec-54
1-Jan-55
185%
400
$945,965
$378,317,233
450,413
$40l
St80,743,800
645,373
$114
$73,719,057
261,360
$339
588,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
744,935,014
31-Dec-55
1-Jan-56
188%
400
$964,885
$385,883,577
450,413
$409
$184,358,676
645,373
$117
$75,193,438
261,360
$345
$90,299,647
45,738
$157
$7,167,193
32,670
$518
$16,931,184
759,833,715
31-Dec-56
1-3an-57
192%
400
$984,182
$393,601,249
450,413
$417
$188,045,849
645,373
$119
$76,697,307
261,360
$352
S92,105,640
45,738
$160
$7,310,536
32,670
$529
$17,269,807
775,030,389
31-Dec-57
1-Jan-58
196%
400
$1,003,866
$401,473,274
450,413
$426
$191,806,766
645,373
$121
$78,231,253
261,360
$359
$93,947,753
45,738
$163
$7,456,747
32,670
$539
$17,615,204
790,530,997
31-Dec-58
1-3an-59
200%
400
$1,023,943
$409,502,739
450,413
5434
$195,642,901
645,373
$124
$79,795,878
261,360
$367
$95,826,708
45,738
$166
$7,605,882
32,670
$550
$17,967,508
806,341,6t7
31-Dec-59
1-Jau-60
204%
400
$1,044,422
$417,692,794
450,413
$443
$199,555,759
645,373
$126
$81,391,796
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
822,468,449
31-Dec-60
1Jan-61
208%
400
$1,065,311
$426,046,650
450,413
5452
$203,546,875
645,373
$129
$83,019,632
261,360
$381
599,698JO7
45,738
$173
$7,913,160
32,670
$572
$18,693,395
838,917,818
31-Dec-61
1-Jau-62
212%
400
$1,086,617
$434,567,583
450,413
$461
$207,617,812
645,373
$131
$84,680,025
261,360
$389
$101,692,069
45,738
$176
$8,071,423
32,670
$584
$19,067,263
855,696,174
31-Dec-62
1-3 -63
216%
400
$1,108,349
$443,258,934
450,413
5470
5211,770, 168
645,373
$134
$86,373,625
261,360
$397
$t03,725,9tO
45,738
$180
$8,232,851
32,670
$595
$19,448,608
872,810,098
31-Dec-63
1-Jau-64
221%
400
$1,130,516
$452,124,113
450,413
$480
$216,005,572
645,373
$137
$88,101,098
261,360
$405
$105,800,429
45,738
$184
$8,397,508
32,670
$607
$19,837,580
890,266,300
31-Dec-64
1Jan-65
225%
400
$1,153,127
$461,166,595
450,413
5489
5220,325,683
645,373
$139
$89,863,120
261,360
$4l3
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
908,071,626
31-Dec-65
1-Jan-66
230%
400
$1,176,189
$470,389,927
450,413
$499
5224,732,197
645,373
$142
$91,660,382
261,360
$421
$110,074,766
45,738
$191
$8,736,768
32,670
$632
$20,639,019
926,233,058
31-Dec-66
1Jan-67
234%
400
$1,199,713
$479,797,726
450,413
5509
5229,226,841
645,373
$145
$93,493,590
261,360
5430
$112,276,261
45,738
$195
$8,911,503
32,670
$644
$21,051,799
944,757,719
31-Dec-67
1-Jau-68
239%
400
$1,223,707
$489,393,680
450,413
$519
$233,811,378
645,373
$148
$95,363,461
261,360
$438
$114,521,786
45,738
$199
$9,089,733
32,670
$657
$21,472,835
963,652,874
m-c.p, Inc
'According to the Parker Cowry Appraisal DuniG
and Tamnt Count Appraisal District property
is assessed as oflanuary
1 annually. During construction, the assessetl value represmis fie
ponion ofNe building
compleletl as
oflanuary 1 Assumes no
rise.¢ d value during
coMruction.
'Assumes an annual iofladoo
hGor o[2.0%.
'Pmvid,d by the Developer.
EXHIBIT C-1.15
PROJECTED TAXABLE VALUE - 2039 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1 15: Pr.,i�ted Assessed Value -
Developfneut 2.0%
Year Assessed Inflation
Endmg As OP Factor'
2034 Develonmentl
Residential
Single Family Residential
Value Per Projected
Units' " Assessed Value Sq Ft'
Muln-Family
Value Per
s"r'
Projected
Assessed Value
Sq Ft'
Industnal
Value Per
Projected
Assessed Value
Sq Ft'
O®ee
Value Per
s"r'
Commercial
Projected
Assessed Value Sq Ft'
Retail (Btg Box)
Value Per Projected
Assessed Value
Sq Ft'
Retail (Pad/Inlme)
Value Per Projected
Sq Ft° Assessed Value
Total Projected
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dee-24
IJan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dee-26
1-Jan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dee-28
1-Jan-29
110%
0
$565,289
$0
0
$240
$0
0
$68
$0
0
$202
$0
0
$92
$0
0
$304
$0
0
31-D-29
1-Jan-30
113%
0
$576,595
$0
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-D-30
1Jan-31
115%
0
$588,127
$0
0
$249
$0
0
$71
$0
0
$211
$0
0
$96
$0
0
$316
$0
0
31-D-31
1-Jan-32
117%
0
$599,890
$0
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-Dee-32
1Jan-33
120%
0
$611,887
$0
0
$260
$0
0
$74
$0
0
$219
$0
0
$99
$0
0
$329
$0
0
31-D-33
1-Jan-34
122%
0
$624,125
$0
0
$265
$0
0
$75
$0
0
$223
$0
0
$101
$0
0
$335
$0
0
31-D-34
1Jan-35
124%
0
$636,608
$0
0
$270
$0
0
$77
$0
0
$228
$0
0
$103
$0
0
$342
$0
0
31-D-35
1-Jmt-36
127%
0
$649,340
$0
0
$275
$0
0
$78
$0
0
$233
$0
0
$105
$0
0
$349
$0
0
31-Dec-36
1Jan-37
129%
0
$662,327
$0
0
$281
$0
0
$80
$0
0
$237
$0
0
$108
$0
0
$356
$0
0
31-Deo-37
1-Jan-38
132%
0
$675,573
$0
0
$287
$0
0
$82
$0
0
$242
$0
0
$110
$0
0
$363
$0
0
31-Dec-38
1Jan-39
135%
0
$689,085
$0
0
$292
$0
0
$83
$0
0
$247
$0
0
$112
$0
0
$370
$0
0
31-Dec-39
1-Jan4O
137%
400
$702,866
$281,095,276
450,413
$298
$134,295,305
645,373
$85
$54,774,345
261,360
$252
$65,778,400
45,738
$114
$5,220,911
32,670
$378
$12,333,450
553,497,689
31-Dec40
1-Jan41
140%
400
$716,924
$286,717,182
450,413
$304
$136,981,212
645,373
$87
$55,869,832
261,360
$257
$67,093,968
45,738
$116
$5,325,330
32,670
$385
$12,580, 119
564,567,642
31-1)ec-01
1-Jan42
143%
400
$731,262
$292,451,526
450,413
$310
$139,720,836
645,373
$88
$56,987,229
261,360
$262
$68,435,847
45,738
$119
$5,431,836
32,670
$393
$12,831,721
575,858,995
31-Dec42
1J-43
146%
400
$745,887
$298,300,556
450,413
$3l6
$142,515,252
645,373
$90
$58,126,974
261,360
$267
$69,804,564
45,738
$121
$5,540,473
32,670
$401
$13,088,356
587,376,175
31-1)ec43
1-Jan44
149%
400
$760,805
$304,266,567
450,413
$323
$145,365,558
645,373
$92
$59,289,513
261,360
$272
$71,200,655
45,738
$124
$5,651,282
32,670
$409
$13,350,123
599,123,699
31-Dcc44
1Jaa45
152%
400
$776,021
$310,351,899
450,413
$329
$148,272,869
645,373
$94
$60,475,303
261,360
5278
572,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
611, 106, 173
31-Dec45
1-Jan46
155%
400
$791,542
$316,558,936
450,413
$336
$151,238,326
645,373
$96
$61,684,809
261,360
5283
574,077,162
45,738
$129
$5,879,594
32,670
$425
$13,889,468
623,328,296
31-Dcc46
1-Jan47
158%
400
$807,372
$322,890,115
450,413
$342
$154,263,093
645,373
$97
$62,918,506
261,360
5289
575,558,705
45,738
$131
$5,997,186
32,670
$434
$14,167,257
635,794,862
31-Dec47
1-Jan48
161%
400
$823,520
$329,347,918
450,413
$349
$157,348,354
645,373
$99
$64,176,876
261,360
$295
$77,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
648,510,759
31-Dcc48
1-Jan49
164%
400
$839,990
$335,934,876
450,413
$356
$160,495,322
645,373
$101
$65,460,413
261,360
Mt
$78,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
661,480,974
31-Dec49
1-Jan-50
167%
400
$856,790
$342,653,573
450,413
$363
$163,705,228
645,373
$103
$66,769,621
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
674,710,594
31-Dec-50
1-Jan-51
171%
400
$873,926
$349,506,645
450,413
$371
$166,979,333
645,373
$106
$68,105,014
261,360
$313
$81,787,172
45,738
$142
$6,491,547
32,670
$469
$15,335,095
688,204,806
31-D-51
1-Jan-52
174%
400
$891,404
$356,496,778
450,413
$378
$170,318,919
645,373
$108
$69,467,114
261,360
$319
$83,422,916
45,738
$145
$6,621,379
32,670
$479
$15,641,797
701,968,902
31-Dec-52
1-Jan-53
178%
400
$909,232
$363,626,713
450,413
$386
$173,725,298
645,373
$I10
$70,856,456
261,360
$326
$85,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
716,008,280
31-D-53
1-Jan-54
181%
400
$927,417
$370,899,248
450,413
$393
$177,199,803
645,373
$112
$72,273,596
261,360
$332
$86,793,202
45,738
$151
$6,888,992
32,670
$498
$16,273,725
730,328,445
31-Dec-54
1-Jan-55
185%
400
$945,965
$378,317,233
450,413
$401
$180,743,800
645,373
$114
$73,719,057
261,360
$339
$88,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
744,935,014
31-D-55
1-Jm-56
199%
400
$964,885
$385,883,577
450,413
$409
$184,358,676
645,373
$117
$75,193,438
261,360
$345
$90,299,647
45,738
$157
$7,167,193
32,670
$518
$16,931,184
759,833,715
31-Dec-56
1-Jan-57
192%
400
$984,182
$393,601,249
450,413
$40
$188,045,849
645,373
$119
$76,697,307
261,360
$352
$92,105,640
45,738
$160
$7,310,536
32,670
$529
$17,269,807
775,030,389
31-Deo-57
1-Jan-58
196%
400
$1,003,966
$401,473,274
450,413
$426
$191,806,766
645,373
$121
$78,231,253
261,360
$359
$93,947,753
45,738
$163
$7,456,747
32,670
$539
$17,615,204
790,530,997
31-Dec-58
1-Jan-59
200%
400
$1,023,943
$409,502,739
450,413
$434
$195,642,901
645,373
$124
$79,795,878
261,360
$367
$95,826,708
45,738
$166
$7,605,882
32,670
$550
$17,967,508
806,341,617
31-Deo-59
1-Jan-60
204%
400
$1,044,422
$417,692,794
450,413
$443
$199,555,759
645,373
$126
$81,391,796
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
822,468,449
31-Dec-60
1-Jan-61
208%
400
$1,065,311
$426,046,650
450,413
$452
$203,546,875
645,373
$129
$83,019,632
261,360
$381
$99,698,107
45,738
$173
$7,913,160
32,670
$572
$18,693,395
838,917,818
31-Deo-61
1-Jan-62
212%
400
$1,086,617
$434,567,583
450,413
$461
$207,617,812
645,373
$131
$84,680,025
261,360
$389
$101,692,069
45,738
$176
$9,071,423
32,670
$584
$19,067,263
855,696,174
31-Dec-62
1-Janfi3
216%
400
$1,108,349
$443,258,934
450,413
$470
$211,770,168
645,373
$134
$86,373,625
261,360
$397
$103,725,910
45,738
$180
$8,232,851
32,670
$595
$19,448,608
872,810,098
31-Dec-63
1-Jan-64
221%
400
$1,130,516
$452,124,113
450,413
$480
$216,005,572
645,373
$137
$88,101,098
261,360
$405
$105,800,429
45,738
$184
$8,397,508
32,670
$607
$19,837,580
890,266,300
31-Dec-64
1-Jau 65
225%
400
$1,153,127
$461,166,595
450,413
$489
$220,325,683
645,373
$139
$89,863,120
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
908,071,626
31-1)ec-65
1-Jan-66
230%
400
$1,176,189
$470,389,927
450,413
$499
$224,732,197
645,373
$142
$91,660,382
261,360
$421
$110,074,766
45,738
$191
$8,736,768
32,670
$632
$20,639,019
926,233,058
31-Dec-66
1-Jau-67
234%
400
$1,199,713
$479,797,726
450,413
$509
$229,226,841
645,373
$145
$93,493,590
261,360
$430
$112,276,261
45,738
$195
$8,911,503
32,670
$644
$21,051,799
944,757,719
31-D,,"7
1-Jan-68
239%
400
$1,223,707
$489,393,680
450,413
$519
$233,811,378
645,373
$148
$95,363,461
261,360
$438
$114,521,786
45,738
$199
$9,089,733
32,670
$657
$21,472,835
963,652,874
31-Dec-68
1-Jan-69
244%
400
$1,248,181
$499,181,554
450,413
$529
$238,487,605
645,373
$151
$97,270,731
261,360
$447
$116,812,222
45,738
$203
$9,271,528
32,670
$670
$21,902,292
982,925,931
M icn Inc
�Accordmgtothe ParkerC.tyAppraisal Dumctand Tarrant Count Apprmsal Manusany -ssess I..fJaaumy l annually Dunng coruvucnom Ne assessedvalue represrnts the portion of@e budding comple[N as ofleauaryl Assumes no assessed value dunng wnstruceion.
'Assumes an annual inFlanon factor of2.0%.
'RovndW by the Developer.
EXHIBIT C-1.16
PROJECTED TAXABLE VALUE - 2040 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1 16:
Pr.,i�ted Assessed Value -
2040 DeveloDmentl
Residential
Commercial
D-loprrwnt
2.0%
Single Family Residential
Muln-Family
Industnal
O®ee
Retail (Btg Box)
Retail (Pad/Inlme)
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Endmg
As OP
Factor'
Units'
n
Assessed Value
Sq Ft'
s"r'
Assessed Value
Sq Ft'
Assessed Value
Sq Ft'
s"r'
Assessed Value
Sq Ft'
Assessed Value
Sq Ft'
Sq Ft'
Assessed Value
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dee-24
IJan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dee-26
1-Jan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dee-28
1-Jan-29
110%
0
$565,289
$0
0
$240
$0
0
$68
$0
0
$202
$0
0
$92
$0
0
$304
$0
0
31-D-29
1-Jan-30
113%
0
$576,595
$0
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-D-30
1Jan-31
115%
0
$588,127
$0
0
$249
$0
0
$71
$0
0
$211
$0
0
$96
$0
0
$316
$0
0
31-D-31
1-Jan-32
117%
0
$599,890
$0
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-Dee-32
1Jan-33
120%
0
$611,887
$0
0
$260
$0
0
$74
$0
0
$219
$0
0
$99
$0
0
$329
$0
0
31-D-33
1-Jan-34
122%
0
$624,125
$0
0
$265
$0
0
$75
$0
0
$223
$0
0
$101
$0
0
$335
$0
0
31-D-34
1Jan-35
124%
0
$636,608
$0
0
$270
$0
0
$77
$0
0
$228
$0
0
$103
$0
0
$342
$0
0
31-D-35
1-Jmt-36
127%
0
$649,340
$0
0
$275
$0
0
$78
$0
0
$233
$0
0
$105
$0
0
$349
$0
0
31-Dec-36
1Jan-37
129%
0
$662,327
$0
0
$281
$0
0
$80
$0
0
$237
$0
0
$108
$0
0
$356
$0
0
31-Deo-37
1-Jan-38
132%
0
$675,573
$0
0
$287
$0
0
$82
$0
0
$242
$0
0
$110
$0
0
$363
$0
0
31-Dec-38
1Jan-39
135%
0
$689,085
$0
0
$292
$0
0
$83
$0
0
$247
$0
0
$112
$0
0
$370
$0
0
31-Dec-39
1-Jan40
137%
0
$702,866
$0
0
$298
$0
0
$85
$0
0
$252
$0
0
$114
$0
0
$378
$0
0
31-1)ec40
1Jan41
140%
400
$716,924
$286,717,182
450,413
$304
$136,981,212
301,871
$87
$26,132,924
261,360
$257
$67,093,968
45,738
$116
$5,325,330
32,670
$385
$12,580, 119
534,830,734
31-1)ec-01
1-Jan42
143%
400
$731,262
$292,451,526
450,413
$310
$139,720,836
301,871
$88
$26,655,583
261,360
$262
$68,435,847
45,738
$119
$5,431,836
32,670
$393
$12,831,721
545,527,349
31-Dec42
1J-43
146%
400
$745,887
$298,300,556
450,413
$3l6
$142,515,252
301,871
$90
$27,188,694
261,360
$267
$69,804,564
45,738
$121
$5,540,473
32,670
$401
$13,088,356
556,437,896
31-1)ec43
1-Jan44
149%
400
$760,805
$304,266,567
450,413
$323
$145,365,558
301,871
$92
$27,732,468
261,360
$272
$71,200,655
45,738
$124
$5,651,282
32,670
$409
$13,350,123
567,566,654
31-Dcc44
1Jaa45
152%
400
$776,021
$310,351,899
450,413
$329
$148,272,869
301,871
$94
$28,287,118
261,360
5278
572,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
578,917,987
31-Dec45
1-Jan46
155%
400
$791,542
$316,558,936
450,413
$336
$151,238,326
301,871
$96
$28,852,860
261,360
5283
574,077,162
45,738
$129
$5,879,594
32,670
$425
$13,889,468
590,496,347
31-Dcc46
1-Jan47
158%
400
$807,372
$322,890,115
450,413
$342
$154,263,093
301,871
$97
$29,429,917
261,360
5289
575,558,705
45,738
$131
$5,997,186
32,670
$434
$14,167,257
602,306,273
31-Dec47
1-Jan48
161%
400
$823,520
$329,347,918
450,413
$349
$157,348,354
301,871
$99
$30,018,515
261,360
$295
$77,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
614,352,399
31-Dcc48
1-Jan49
164%
400
$839,990
$335,934,876
450,413
$356
$160,495,322
301,871
$101
$30,618,886
261,360
Mt
$78,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
626,639,447
31-Dec49
1-Jan-50
167%
400
$856,790
$342,653,573
450,413
$363
$163,705,228
301,871
$103
$31,231,264
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
639,172,236
31-Dec-50
1-Jan-51
171%
400
$873,926
$349,506,645
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
651,955,681
31-D-51
1-Jan-52
174%
400
$891,404
$356,496,778
450,413
$378
$170,318,919
301,871
$108
$32,493,007
261,360
$319
$83,422,916
45,738
$145
$6,621,378
32,670
$479
$15,641,797
664,994,794
31-Dec-52
1-Jan-53
178%
400
$909,232
$363,626,713
450,413
$386
$173,725,298
301,871
$I10
$33,142,867
261,360
$326
$85,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
678,294,690
31-D-53
1-Jan-54
181%
400
$927,417
$370,899,248
450,413
$393
$177,199,803
301,871
$112
$33,905,724
261,360
$332
$86,793,202
45,738
$151
$6,888,892
32,670
$498
$16,273,725
691,860,584
31-Dec-54
1-Jan-55
185%
400
$945,965
$378,317,233
450,413
$401
$180,743,800
301,871
$114
$34,481,838
261,360
$339
$88,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
705,697,796
31-D-55
1-Jm-56
199%
400
$964,885
$385,883,577
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
719,811,751
31-Dec-56
1-Jan-57
192%
400
$984,182
$393,601,249
450,413
$40
$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
734,207,986
31-Deo-57
1-Jan-58
196%
400
$1,003,966
$401,473,274
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
748,892,146
31-Dec-58
1-Jan-59
200%
400
$1,023,943
$409,502,739
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
763,869,989
31-Deo-59
1-Jan-60
204%
400
$1,044,422
$417,692,794
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
779,147,389
31-Dec-60
1-Jan-61
208%
400
$1,065,311
$426,046,650
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
$18,693,395
794,730,337
31-Deo-61
1-Jan-62
212%
400
$1,086,617
$434,567,583
450,413
$461
$207,617,812
301,871
$131
$39,608,794
261,360
$389
$101,692,069
45,738
$176
$9,071,423
32,670
$584
$19,067,263
810,624,943
31-Dec-62
1-Janfi3
216%
400
$1,108,349
$443,258,934
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
826,837,442
31-Dec-63
1-Jan-64
221%
400
$1,130,516
$452,124,113
450,413
$480
$216,005,572
301,871
$137
$41,208,989
261,360
$405
$105,800,429
45,738
$184
$8,397,508
32,670
$607
$19,837,580
843,374,191
31-Dec-64
1-Jau 65
225%
400
$1,153,127
$461,166,595
450,413
$489
$220,325,683
301,871
$139
$42,033,169
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
860,241,675
31-1)ec-65
1-Jan-66
230%
400
$1,176,189
$470,389,927
450,413
$499
$224,732,197
301,871
$142
$42,873,832
261,360
$421
$110,074,766
45,738
$191
$8,736,768
32,670
$632
$20,639,019
877,446,508
31-Dec-66
1-Jau-67
234%
400
$1,199,713
$479,797,726
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
894,995,439
31-1)ecfi7
1-Jan-68
239%
400
$1,223,707
$489,393,680
450,413
$519
$233,811,378
301,871
$148
$44,605,935
261,360
$438
$114,521,786
45,738
$199
$9,089,733
32,670
$657
$21,472,835
912,895,347
31-Dec-68
1-Jau-69
244%
400
$1,248,181
$499,181,554
450,413
$529
$238,487,605
301,871
$151
$45,498,054
261,360
5447
$116,812,222
45,738
$203
$9,271,528
32,670
$670
$21,902,292
931,153,254
31-D,,"9
1-Jan-70
249%
400
$1,273,145
$509,165,185
450,413
$540
$243,257,357
301,871
$154
$46,408,015
261,360
$456
$119,148,467
45,738
$207
$9,456,958
32,670
$684
$22,340,337
949,776,319
0
kl-c p, Inc
'According to theParker Cowry Appraisal DuniG
and TaruaaC- Appmisal Duum property
is asswd asoflanuary
l annually. During
co c,theassessetl value represenlstM1e
portion ofNe building
compleletl as
oflanuaryl Assumes no
aseecedvalue during
consrcuction.
'Assumes an annual iofladoo
hGor of2.0%.
'Pmvid,d by the Developer.
EXHIBIT C-1.17
PROJECTED TAXABLE VALUE - 2041 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1.17, Proiected Assessed Value -
Development 2.0%
Year Assessed Inflation
Ending As OP Factor'
2041 Develoumentl
Residential
Single Family Residential
Value Per Projected
Units, " Assessed Value Sq Ft'
M iln-Family
Value Per
s"r'
Projected
Assessed Value
Sq Ft'
Industnal
Value Per
Projected
Assessed Value
Sq Ft'
O®ee
Value Per
sa r'
Commercial
Projected
Assessed Value Sq Ft'
Retail (Btg Box)
Value Per Projected
Assessed Value
Sq Ft'
Retail (Pad/Inlme)
Value Per Projected
Sq Ft° Assessed Value
Total Projected
Assessed Value
31-Dac-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dee-24
IJan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jau-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dee-26
1-Jan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
$0
0
$292
so
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dee-28
1-Jan-29
110%
0
$565,289
$0
0
$240
$0
0
$68
$0
0
$202
$0
0
$92
$0
0
$304
so
0
31-D-29
1-Jan-30
113%
0
$576,595
$0
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-Dee-30
1Jan-31
115%
0
$588,127
$0
0
$249
$0
0
$71
$0
0
$211
$0
0
$96
$0
0
$316
so
0
31-D-31
1-Jan-32
117%
0
$599,890
$0
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-D-32
1Jan-33
120%
0
$611,887
$0
0
$260
$0
0
$74
$0
0
$219
$0
0
$99
$0
0
$329
$0
0
31-Dec-33
1-Jan-34
122%
0
$624,125
$0
0
$265
$0
0
$75
$0
0
$223
$0
0
$101
$0
0
$335
$0
0
31-Dec-34
1-1 -35
124%
0
$636,608
$0
0
$270
$0
0
$77
$0
0
$228
$0
0
$103
$0
0
$342
$0
0
31-Dec-35
1-Jan-36
127%
0
$649,340
$0
0
$275
$0
0
$78
$0
0
$233
$0
0
$105
$0
0
$349
$0
0
31-Dec-36
1-1 -37
129%
0
$662,327
$0
0
$281
$0
0
$80
$0
0
$237
$0
0
$108
$0
0
$356
$0
0
31-Deo-37
1-Jan-38
132%
0
$675,573
$0
0
$287
$0
0
$82
$0
0
$242
$0
0
$110
$0
0
$363
$0
0
31-Dec-38
1-1 -39
135%
0
$689,085
$0
0
$292
$0
0
$83
$0
0
$247
$0
0
$112
$0
0
$370
$0
0
31-Dec-39
1-Jan40
137%
0
$702,866
$0
0
$298
$0
0
$85
$0
0
$252
$0
0
$114
$0
0
$378
$0
0
31-Dec40
1-1an41
140%
0
$716,924
$0
0
$304
$0
0
$87
$0
0
$257
$0
0
$116
$0
0
$385
$0
0
31-1)ec4l
1-Jan42
143%
400
$731,262
$292,451,526
450,413
$310
$139,720,836
301,871
$88
$26,655,583
261,360
$262
$68,435,847
45,738
$119
$5,431,836
32,670
$393
$12,831,721
545,527,349
31-1)ec42
1J-43
146%
400
$745,887
$298,300,556
450,413
Btii
$142,515,252
301,871
$90
$27,188,694
261,360
$267
569,804,564
45,738
$121
$5,540,473
32,670
$401
$13,088,356
556,437,896
31-1)ec43
1-Jan44
149%
400
$760,805
$304,266,567
450,413
$323
$145,365,558
301,871
$92
$27,732,468
261,360
$272
$71,200,655
45,738
$124
$5,651,282
32,670
$409
$13,350,123
567,566,654
31-Dcc44
1J-45
152%
400
$776,021
$310,351,899
450,413
$329
$148,272,869
301,871
$94
$28,287,118
261,360
$278
$72,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
578,917,987
31-Dec45
1-Jan46
155%
400
$791,542
$316,558,936
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
590,496,347
31-Dcc46
1-Jan47
158%
400
$807,372
$322,890,115
450,413
$342
$154,263,093
301,871
$97
$29,429,917
261,360
5289
575,558,705
45,738
$131
$5,997,186
32,670
$434
$14,167,257
602,306,273
31-Dec47
1-Jan48
161%
400
$823,520
$329,347,918
450,413
$349
$157,348,354
301,871
$99
$30,018,515
261,360
5295
577,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
614,352,399
31-Dcc48
1-Jan49
164%
400
$839,990
$335,934,876
450,413
$356
$160,495,322
301,871
$101
$30,618,886
261,360
5301
578,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
626,639,447
31-Dec49
1-Jan-50
167%
400
$856,790
$342,653,573
450,413
$363
$163,705,228
301,871
$103
$31,231,264
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
639,172,236
31-Dec-50
1-Jan-51
171%
400
$873,926
$349,506,645
450,413
$371
$166,979,333
301,871
$106
$31,855,889
261,360
$3l3
$81,787,172
45,738
$142
$6,491,547
32,670
$469
$15,335,095
651,955,681
31-Dec-51
1-Jan-52
174%
400
$891,404
$356,496,778
450,413
$378
$170,318,919
301,871
$108
$32,493,007
261,360
$319
$83,422,916
45,738
$145
$6,621,378
32,670
$479
$15,641,797
664,994,794
31-Dec-52
1-Jan-53
178%
400
$909,232
$363,626,713
450,413
$386
$173,725,298
301,871
$I10
$33,142,867
261,360
$326
$85,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
678,294,690
31-D-53
1-Jan-54
181%
400
$927,417
$370,899,248
450,413
$393
$177,199,803
301,871
$112
$33,905,724
261,360
$332
$86,793,202
45,738
$151
$6,888,882
32,670
$498
$16,273,725
691,860,584
31-Dec-54
1-Jan-55
185%
400
$945,965
$378,317,233
450,413
$401
$180,743,800
301,871
$114
$34,481,838
261,360
$339
$88,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
705,697,796
31-D-55
1-Jan-56
199%
400
$964,885
$385,883,577
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
719,811,751
31-Dec-56
1-Jan-57
192%
400
$984,182
$393,601,249
450,413
$40
$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
734,207,986
31-Deo-57
1-Jan-58
196%
400
$1,003,866
$401,473,274
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
748,892,146
31-Dec-58
1-Jan-59
200%
400
$1,023,943
$409,502,739
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
763,869,989
31-Deo-59
1-Jan60
204%
400
$1,044,422
$417,692,794
450,413
$443
$199,555,759
301,871
$126
$38,070,736
261,360
$374
$97,743,242
45,738
$170
$7,759,000
32,670
$561
$18,326,858
779,147,389
31-Dec-60
1-Jan-61
208%
400
$1,065,311
$426,046,650
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
$18,693,395
794,730,337
31-Dec-61
1-Jan62
212%
400
$1,086,617
$434,567,583
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
810,624,943
31-Dec-62
1-Jau63
216%
400
$1,108,349
$443,258,934
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
826,837,442
31-Dec-63
1-Jan64
221%
400
$1,130,516
$452,124,113
450,413
$480
$216,005,572
301,871
$137
$41,208,989
261,360
$405
$105,800,429
45,738
$184
$8,397,508
32,670
$607
$19,837,580
843,374,191
31-Dec64
1-Jan65
225%
400
$1,153,127
$461,166,595
450,413
$489
$220,325,683
301,871
$139
$42,033,169
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
860,241,675
31-Dec-65
1-Jan-66
230%
400
$1,176,189
$470,389,927
450,413
$499
$224,732,197
301,871
$142
$42,873,832
261,360
$421
$110,074,766
45,738
$191
$8,736,768
32,670
$632
$20,639,019
877,446,508
31-Dec66
1-Jan-67
234%
400
$1,199,713
$479,797,726
450,413
$509
$229,226,841
301,871
$145
$43,731,309
261,360
$430
5112,276,261
45,738
$195
$8,911,503
32,670
$644
$21,051,799
894,995,439
31-Dec-67
1-Jan68
239%
400
$1,223,707
$489,393,680
450,413
$519
$233,811,378
301,871
$148
$44,605,935
261,360
$438
$114,521,786
45,738
$199
$9,089,733
32,670
$657
$21,472,835
912,895,347
31-Dec68
1-Jaa69
244%
400
$1,248,181
$499,181,554
450,413
$529
$238,487,605
301,871
$151
$45,498,054
261,360
$447
5116,812,222
45,738
$203
$9,271,528
32,670
$670
$21,902,292
931,153,254
31-Dec-69
1-Jan-70
249%
400
$1,273,145
$509,165,185
450,413
$540
$243,257,357
301,871
$154
$46,408,015
261,360
$456
$119,148,467
45,738
$207
$9,456,958
32,670
$684
$22,340,337
949,776,319
400
$1,298,608
$519,348,489
450,413
$551
$248,122,504
301,871
$157
$47,336,175
261,360
$465
$121,531,436
45,738
$211
$9,646,098
32,670
$697
$22,787,144
968,771,846
Munico I"
�Accordmgtothe ParkerC.tyAppua.l Dunis.aITarnmt Couat Appraisal Mauutp -, -ssess I..fJaaumy l annually Dunng consnvcnom Ne assessedvalue npresrnts the portion of@e budding comple[N as ofleauaryl Assumes no assessed value dunng wrimvceion.
'Assumes an annual nal- factor of2.0%.
'ft.&I by the Developer.
EXHIBIT C-1.18
PROJECTED TAXABLE VALUE - 2042 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1.18, Proimted
Assessed Value -
2042 Develonmentl
Residential
Commercial
D-lopinent
2.0%
Single Family Residential
Muln-Family
Industnal
Office
Retail (Btg Box)
Retail (Pad/Inlme)
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Endmg
As OP
Factor'
Units'
u".1
Assessed Value
Sq Ft'
s"r'
Assessed Value
Sq Ft'
sa
Assessed Value
Sq Ft'
a, Ft
Assessed Value
Sq Ft'
sa Assessed Value
Sq Ft'
Sq Ft'
Assessed Value
Assessed Value
31-Dac-23
1-J--24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-D-24
IJan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-D-26
1-Jan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
$0
0
$292
SO
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-D-28
1-Jan-29
110%
0
$565,289
$0
0
$240
$0
0
$68
$0
0
$202
$0
0
$92
$0
0
$304
SO
0
31-D-29
1-Jan-30
113%
0
$576,595
$0
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-D-30
1Jan-31
115%
0
$588,127
$0
0
$249
$0
0
$71
$0
0
$211
$0
0
$96
$0
0
$316
SO
0
31-D-31
1-Jan-32
117%
0
$599,890
$0
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-D-32
1Jan-33
120%
0
$611,887
$0
0
$260
$0
0
$74
$0
0
$219
$0
0
$99
$0
0
$329
$0
0
31-Dec-33
1-Jan-34
122%
0
$624,125
$0
0
$265
$0
0
$75
$0
0
$223
$0
0
$101
$0
0
$335
$0
0
31-Dec-34
1-1 -35
124%
0
$636,608
$0
0
$270
$0
0
$77
$0
0
$228
$0
0
$103
$0
0
$342
$0
0
31-Dec-35
1-Jan-36
127%
0
$649,340
$0
0
$275
$0
0
$78
$0
0
$233
$0
0
$105
$0
0
$349
$0
0
31-Dec-36
1-1 -37
129%
0
$662,327
$0
0
$281
$0
0
$80
$0
0
$237
$0
0
$108
$0
0
$356
$0
0
31-Deo-37
1-Jan-38
132%
0
$675,573
$0
0
$287
$0
0
$82
$0
0
$242
$0
0
$110
$0
0
$363
$0
0
31-Dec-38
1-1 -39
135%
0
$689,085
$0
0
$292
$0
0
$83
$0
0
$247
$0
0
$112
$0
0
$370
$0
0
31-Dec-39
1-Jan4O
137%
0
$702,866
$0
0
$298
$0
0
$85
$0
0
$252
$0
0
$114
$0
0
$378
$0
0
31-Dec40
1-1an41
140%
0
$716,924
$0
0
$304
$0
0
$87
$0
0
$257
$0
0
$116
$0
0
$385
$0
0
31-1)ec4l1
1-Jan42
143%
0
$731,262
$0
0
$310
$0
0
$88
$0
0
$262
$0
0
$119
$0
0
$393
$0
0
31-1)ec42
1J-43
146%
72
$745,887
$53,808,638
450,413
$316
$142,515,252
301,871
$90
$27,188,694
261,360
$267
$69,804,564
45,738
$121
$5,540,473
32,670
$401
$13,088,356
311,945,977
31-1)ec43
1-Jan44
149%
72
$760,805
$54,884,810
450,413
$323
$145,365,558
301,871
$92
$27,732,468
261,360
$272
$71,200,655
45,738
$124
$5,651,282
32,670
$409
$13,350,123
318,184,897
31-Dcc44
1-Jan45
152%
72
$776,021
$55,982,507
450,413
$329
$148,272,869
301,871
$94
$28,287,118
261,360
$278
$72,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
324,548,595
31-Dec45
1-Jan46
155%
72
$791,542
$57,102,157
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
331,039,567
31-Dcc46
1-Jan47
158%
72
$807,372
$58,244,200
450,413
$342
$154,263,093
301,871
$97
$29,429,917
261,360
5289
575,558,705
45,738
$131
$5,997,186
32,670
$434
$14,167,257
337,660,358
31-1)ec47
1-Jan48
161%
72
$823,520
$59,409,084
450,413
$349
$157,348,354
301,871
$99
$30,018,515
261,360
5295
577,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
344,413,565
31-Dcc48
1-Jan49
164%
72
$839,990
$60,597,266
450,413
$356
$160,495,322
301,871
$101
$30,618,886
261,360
5301
578,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
351,301,837
31-Dec49
1-Jan-50
167%
72
$856,790
$61,809,211
450,413
$363
$163,705,228
301,871
$103
$31,231,264
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
358,327,873
31-Dec-50
1-Jan-51
171%
72
$873,926
$63,045,395
450,413
$371
$166,979,333
301,871
$106
$31,855,889
261,360
$3l3
$81,787,172
45,738
$142
$6,491,547
32,670
$469
$15,335,095
365,494,431
31-D-51
1-Jan-52
174%
72
$891,404
$64,306,303
450,413
$378
$170,318,919
301,871
$108
$32,493,007
261,360
$319
$83,422,916
45,738
$145
$6,621,378
32,670
$479
$15,641,797
372,804,319
31-Dec-52
1-Jan-53
178%
72
$909,232
$65,592,429
450,413
$386
$173,725,298
301,871
$I10
$33,142,867
261,360
$326
$85,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
380,260,406
31-D-53
1-Jan-54
181%
72
$927,417
$66,904,278
450,413
$393
$177,199,803
301,871
$112
$33,905,724
261,360
$332
$86,793,202
45,738
$151
$6,888,892
32,670
$498
$16,273,725
387,865,614
31-Dec-54
1-Jan-55
185%
72
$945,965
$68,242,363
450,413
$401
$180,743,800
301,871
$114
$34,481,838
261,360
$339
$88,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
395,622,926
31-D-55
1-Jan-56
199
72
$964,885
$69,607,210
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
403,535,385
31-Dec-56
1-Jan-57
192%
72
$984,182
$70,999,355
450,413
$40
$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
411,606,092
31-Deo-57
1-Jan-58
196%
72
$1,003,866
$72,419,342
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
419,838,214
31-Dec-58
1-Jan-59
200%
72
$1,023,943
$73,867,729
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
428,234,978
31-Deo-59
1-Jan-60
204%
72
$1,044,422
$75,345,083
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
436,799,678
31-Dec-60
1-Jan-61
208%
72
$1,065,311
$76,851,985
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
$18,693,395
445,535,672
31-Dec-61
1-Jan-62
212%
72
$1,086,617
$78,389,024
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
454,446,385
31-Dec-62
1-Janfi3
216%
72
$1,108,349
$79,956,805
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
463,535,313
31-Dec-63
1-Jan-64
221%
72
$1,130,516
$81,555,941
450,413
$480
$216,005,572
301,871
$137
$41,208,989
261,360
$405
$105,800,429
45,738
$184
$8,397,508
32,670
$607
$19,837,580
472,806,019
31-Dec-64
1-Jan-65
225%
72
$1,153,127
$83,187,060
450,413
$489
$220,325,683
301,871
$139
$42,033,169
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
482,262,139
31-Dec-65
1-Jan-66
230%
72
$1,176,189
$84,850,801
450,413
$499
$224,732,197
301,871
$142
$42,873,832
261,360
$421
$110,074,766
45,738
$191
$8,736,768
32,670
$632
$20,639,019
491,907,382
31-D-66
1-Jan-67
234%
72
$1,199,713
$86,547,817
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
501,745,530
31-Dec-67
1-Jm-68
239%
72
$1,223,707
$88,278,773
450,413
$519
$233,811,378
301,871
$148
$44,605,935
261,360
$438
$114,521,786
45,738
$199
$9,089,733
32,670
$657
$21,472,835
511,780,440
31-D-68
1-Jan-69
244%
72
$1,248,181
$90,044,349
450,413
$529
$238,487,605
301,871
$151
$45,498,054
261,360
$447
5116,812,222
45,738
$203
$9,271,528
32,670
$670
$21,902,292
522,016,049
31-Dec-69
1-Jan-70
249%
72
$1,273,145
$91,845,236
450,413
$540
$243,257,357
301,871
$154
$46,408,015
261,360
$456
$119,148,467
45,738
$207
$9,456,958
32,670
$684
$22,340,337
532,456,370
31-Dec-70
1-Jan-71
254%
72
$1,298,608
$93,682,141
450,413
$551
$248,122,504
301,871
$157
$47,336,175
261,360
$465
$121,531,436
45,738
$211
$9,646,098
32,670
$697
$22,787,144
543,105,498
31-Deo-71
1-Jan-72
259%
72
$1,324,580
$95,555,783
450,413
$562
$253,084,954
301,871
$160
$48,282,898
261,360
$474
$123,962,065
45,738
$215
$9,839,020
32,670
$711
$23,242,887
553,967,608
m-c.p, I-
'Accordingto the Parker
Cowry Appraisal Duum-d
Tamara Count Appraisal Dinw, property
is rises as ofJ.aq
l annually. During
m c n,theassessetl value represmis fie
ponion of[he building
compleletl as
oflanuaryl Assumes no
aseecedvalue during
coretruction.
'Assumes an annual iofladoo hGor o[2D%.
'Pmvid,d by the Developer.
EXHIBIT C-1.19
PROJECTED TAXABLE VALUE - 2043 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Peale Ranch)
Exhibit C-1.19, Proiected Assessed Value -
2043 Develoumentl
Residential
Commercial
Developfneat
2.0%
Single Family Residential
Muln-Family
Industnal
O®ee
Retail (Btg Box)
Retail (Pad/Inlme)
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Endmg
As OP
Factor'
Umtst
"
Assessed Value
Sq Ft'
s"r'
Assessed Value
Sq Ft'
Assessed Value
Sq Ft'
s"r'
Assessed Value
Sq Ft'
Assessed Value
Sq Ft'
Sq Ft°
Assessed Value
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$512,000
$0
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dee-24
IJan-25
102%
0
$522,240
$0
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$532,685
$0
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dee-26
1-Jan-27
106%
0
$543,338
$0
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$554,205
$0
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dee-28
1-Jan-29
110%
0
$565,289
$0
0
$240
$0
0
$68
$0
0
$202
$0
0
$92
$0
0
$304
$0
0
31-D-29
1-Jan-30
113%
0
$576,595
$0
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-D-30
1Jan-31
115%
0
$588,127
$0
0
$249
$0
0
$71
$0
0
$211
$0
0
$96
$0
0
$316
$0
0
31-D-31
1-Jmt-32
117%
0
$599,890
$0
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-Dee-32
1Jan-33
120%
0
$611,887
$0
0
$260
$0
0
$74
$0
0
$219
$0
0
$99
$0
0
$329
$0
0
31-D-33
1-Jmt-34
122%
0
$624,125
$0
0
$265
$0
0
$75
$0
0
$223
$0
0
$101
$0
0
$335
$0
0
31-D-34
1Jan-35
124%
0
$636,608
$0
0
$270
$0
0
$77
$0
0
$228
$0
0
$103
$0
0
$342
$0
0
31-D-35
1-Jmt-36
127%
0
$649,340
$0
0
$275
$0
0
$78
$0
0
$233
$0
0
$105
$0
0
$349
$0
0
31-Dec-36
1Jan-37
129%
0
$662,327
$0
0
$281
$0
0
$80
$0
0
$237
$0
0
$108
$0
0
$356
$0
0
31-Deo-37
1-Jan-38
132%
0
$675,573
$0
0
$287
$0
0
$82
$0
0
$242
$0
0
$110
$0
0
$363
$0
0
31-Dec-38
1Jan-39
135%
0
$689,085
$0
0
$292
$0
0
$83
$0
0
$247
$0
0
$112
$0
0
$370
$0
0
31-Dec-39
1-Jan40
137%
0
$702,866
$0
0
$298
$0
0
$85
$0
0
$252
$0
0
$114
$0
0
$378
$0
0
31-1)ec40
1Jan41
140%
0
$716,924
$0
0
$304
$0
0
$87
$0
0
$257
$0
0
$116
$0
0
$385
so
0
31-Dec4l
1-Jan42
143%
0
$731,262
$0
0
$310
$0
0
$88
$0
0
$262
$0
0
$119
$0
0
$393
$0
0
31-Dcc42
1-Jan43
146%
0
$745,887
$0
0
$316
$0
0
$90
$0
0
$267
$0
0
$121
$0
0
$401
$0
0
31-Dec43
1-Jan44
149%
72
$760,805
$54,884,810
450,413
$323
$145,365,558
301,871
$92
$27,732,468
261,360
$272
$71,200,655
45,738
$124
$5,651,282
32,670
$409
$13,350,123
318,184,897
31-Dcc44
1Jaa45
152%
72
$776,021
$55,982,507
450,413
$329
$148,272,869
301,871
$94
$28,287,118
261,360
5278
572,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
324,548,595
31-Dec45
1-Jan46
155%
72
$791,542
$57,102,157
450,413
$336
$151,238,326
301,871
$96
$28,852,860
261,360
5283
574,077,162
45,738
$129
$5,879,594
32,670
$425
$13,889,468
331,039,567
31-Dcc46
1-Jan47
158%
72
$807,372
$58,244,200
450,413
$342
$154,263,093
301,871
$97
$29,429,917
261,360
5289
575,558,705
45,738
$131
$5,997,186
32,670
$434
$14,167,257
337,660,358
31-Dec47
1-Jan48
161%
72
$823,520
$59,409,084
450,413
$349
$157,348,354
301,871
$99
$30,018,515
261,360
$295
$77,069,879
45,738
$134
$6,117,130
32,670
$442
$14,450,602
344,413,565
31-Dcc48
1-Jan49
164%
72
$839,990
$60,597,266
450,413
$356
$160,495,322
301,871
$101
$30,618,886
261,360
Mt
$78,611,277
45,738
$136
$6,239,472
32,670
$451
$14,739,614
351,301,837
31-Dec49
1-Jan-50
167%
72
$856,790
$61,809,211
450,413
$363
$163,705,228
301,871
$103
$31,231,264
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
358,327,873
31-Dec-50
1-Jan-51
171%
72
$873,926
$63,045,395
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
365,494,431
31-Dec-51
1-Jan-52
174%
72
$891,404
$64,306,303
450,413
$378
$170,318,919
301,871
$108
$32,493,007
261,360
$319
$83,422,916
45,738
$145
$6,621,379
32,670
$479
$15,641,797
372,804,319
31-Dec-52
1-Jan-53
178%
72
$909,232
$65,592,429
450,413
$386
$173,725,298
301,871
$I10
$33,142,867
261,360
$326
$85,091,374
45,738
$148
$6,753,806
32,670
$488
$15,954,633
380,260,406
31-D-53
1-Jan-54
181%
72
$927,417
$66,904,278
450,413
$393
$177,199,803
301,871
$112
$33,905,724
261,360
$332
$86,793,202
45,738
$151
$6,888,992
32,670
$498
$16,273,725
387,865,614
31-Dec-54
1-Jan-55
185%
72
$945,965
$68,242,363
450,413
$401
$180,743,800
301,871
$114
$34,481,838
261,360
$339
$88,529,066
45,738
$154
$7,026,659
32,670
$508
$16,599,200
395,622,926
31-D-55
1-Jm-56
199%
72
$964,885
$69,607,210
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
403,535,385
31-Dec-56
1-Jan-57
192%
72
$984,182
$70,999,355
450,413
$40
$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
411,606,092
31-Deo-57
1-Jan-58
196%
72
$1,003,866
$72,419,342
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
419,838,214
31-Dec-58
1-Jan-59
200%
72
$1,023,943
$73,867,729
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
428,234,978
31-Dec-59
1-Jan-60
204%
72
$1,044,422
$75,345,083
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
436,799,678
31-Dec-60
1-Jan-61
208%
72
$1,065,311
$76,851,985
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
$18,693,395
445,535,672
31-Deo-61
1-Jan-62
212%
72
$1,086,617
$78,389,024
450,413
$461
$207,617,812
301,871
$131
$39,608,794
261,360
$389
$101,692,069
45,738
$176
$9,071,423
32,670
$584
$19,067,263
454,446,385
31-Dec-62
1-Janfi3
216%
72
$1,108,349
$79,956,805
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
463,535,313
31-Dec-63
1-Jan-64
221%
72
$1,130,516
$81,555,941
450,413
$480
$216,005,572
301,871
$137
$41,208,989
261,360
$405
$105,800,429
45,738
$184
$8,397,508
32,670
$607
$19,837,580
472,806,019
31-Dec-64
1-Jau 65
225%
72
$1,153,127
$83,187,060
450,413
$489
$220,325,683
301,871
$139
$42,033,169
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
482,262,139
31-De"5
1-Jan-66
230%
72
$1,176,189
$84,850,801
450,413
$499
$224,732,197
301,871
$142
$42,873,832
261,360
$421
$110,074,766
45,738
$191
$8,736,768
32,670
$632
$20,639,019
491,907,382
31-Dec-66
1-Jau-67
234%
72
$1,199,713
$86,547,817
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
501,745,530
31-De"7
1-Jan-68
239%
72
$1,223,707
$88,278,773
450,413
$519
$233,811,378
301,871
$148
$44,605,935
261,360
$438
$114,521,786
45,738
$199
$9,089,733
32,670
$657
$21,472,835
511,780,440
31-Dec-68
1-Jaa-69
244%
72
$1,248,181
$90,044,349
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
$21,902,292
522,016,049
31-De"9
1-Jan-70
249%
72
$1,273,145
$91,845,236
450,413
$540
$243,257,357
301,871
$154
$46,408,015
261,360
$456
$119,148,467
45,738
$207
$9,456,958
32,670
$684
$22,340,337
532,456,370
31-Dec-70
1-]an-71
254%
72
$1,298,608
$93,682,141
450,413
$551
$248,122,504
301,871
$157
$47,336,175
261,360
5465
$121,531,436
45,738
$211
$9,646,098
32,670
$697
$22,787,144
543,105,498
31-Dec-71
1-Jan-72
259%
72
$1,324,580
$95,555,783
450,413
$562
$253,084,954
301,871
$160
$48,282,898
261,360
$474
$123,962,065
45,738
$215
$9,839,020
32,670
$711
$23,242,887
553,967,608
31-Dec-72
1-]an-73
264%
72
$1,351,072
$97,466,899
450,413
$573
$258,146,653
301,871
$163
$49,248,556
261,360
$484
$126,441,306
45,738
$219
$10,035,800
32,670
$726
$23,707,745
565,046,960
Mwica Inc.
�Accordmg to the Parker
Cowty Appraisal Dumctand Tarrant Count Apprmsal Manus property
-ssess I as oflanuary l amorally Dunng
coruvucnom Ne assessedvalue represrnts the
portion of@e budding
comple[N as
oflenueryl Assumes no
assessed value dunng
wnstruceion.
'Assumes an annual inFlanon factor of2.0%.
'ft.&I by the Developer.
EXHIBIT C-1.20
PROJECTED TAXABLE VALUE - 2044 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit C-1.20: Projected Assessed Value - 2044 Develonmentl
Development
Year
Ending
Assessed
As Of+
2.0%
Inflation
Factor
Sq Ft'
Residential
Multi -Fundy
Value Per
Sq Ft
Projected
Assessed Value
Sq Ft'
Industrial
Value Per
Sq Ft
Projected
Assessed Value
Sq Ft'
Office
Value Per
Sq Ft
Commercial
Projected
Assessed Value
Sq Ft'
Retail (Big Box)
Value Per Projected
Sq Ft Assessed Value
Sq Ft'
Retail (Pad/Inline)
Value Per Projected
Sq Ft Assessed Value
Total Projected
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dec-24
1-Jan-25
102%
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dec-28
1-Jan-29
110%
0
$240
$0
0
$68
$0
0
$202
$0
0
$92
$0
0
$304
$0
0
31-Dec-29
1-Jan-30
113%
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-Dec-30
1-Jan-31
115%
0
$249
$0
0
$71
$0
0
$211
$0
0
$96
$0
0
$316
$0
0
31-Dec-31
1-Jan-32
117%
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-Dec-32
1-Jan-33
120%
0
$260
$0
0
$74
$0
0
$219
$0
0
$99
$0
0
$329
$0
0
31-Dec-33
1-Jan-34
122%
0
$265
$0
0
$75
$0
0
$223
$0
0
$101
$0
0
$335
$0
0
31-Dec-34
1-Jan-35
124%
0
$270
$0
0
$77
$0
0
$228
$0
0
$103
$0
0
$342
$0
0
31-Dec-35
1-Jan-36
127%
0
$275
$0
0
$78
$0
0
$233
$0
0
$105
$0
0
$349
$0
0
31-Dec-36
1-Jan-37
129%
0
$281
$0
0
$80
$0
0
$237
$0
0
$108
$0
0
$356
$0
0
31-Dec-37
1-Jan-38
132%
0
$287
$0
0
$82
$0
0
$242
$0
0
$110
$0
0
$363
$0
0
31-Dec-38
1-Jan-39
135%
0
$292
$0
0
$83
$0
0
$247
$0
0
$112
$0
0
$370
$0
0
31-Dec-39
1-Jan40
137%
0
$298
$0
0
$85
$0
0
$252
$0
0
$114
$0
0
$378
$0
0
31-Dec-40
1-Jan-41
140%
0
$304
$0
0
$87
$0
0
$257
$0
0
$116
$0
0
$385
$0
0
31-Dec-41
1-Jan42
143%
0
$310
$0
0
$88
$0
0
$262
$0
0
$119
$0
0
$393
$0
0
31-Dec-42
1-Jan-43
146%
0
$316
$0
0
$90
$0
0
$267
$0
0
$121
$0
0
$401
$0
0
31-Dec-43
1-Jan-44
149%
0
$323
$0
0
$92
$0
0
$272
$0
0
$124
$0
0
$409
$0
0
31-Dec-44
1-Jan-45
152%
450,413
$329
$148,272,869
301,871
$94
$28,287,118
261,360
$278
$72,624,669
45,738
$126
$5,764,308
32,670
$417
$13,617,125
268,566,088
31-Dec-45
1-Jan46
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-Dec-46
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
$434
$14,167,257
279,416,158
31-Dec-47
1-Jan48
161%
450,413
$349
$157,348,354
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-Dec-48
1-Jan-49
164%
450,413
$356
$160,495,322
301,871
$101
$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
1-Jan-50
167%
450,413
$363
$163,705,228
301,871
$103
$31,231,264
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
296,518,662
31-Dec-50
1-Jan-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-Dec-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
$6,621,378
32,670
$479
$15,641,797
308,498,016
31-Dec-52
1-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-Dec-53
1-Jan-54
181%
450,413
$393
$177,199,803
301,871
$112
$33,805,724
261,360
$332
$86,793,202
45,738
$151
$6,888,882
32,670
$498
$16,273,725
320,961,336
31-Dec-54
1-Jan-55
185%
450,413
$401
$180,743,800
301,871
$114
$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-Dec-55
1-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
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-Dec-57
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
347,418,873
31-Dec-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-Dec-59
1-Jan-60
204%
450,413
$443
$199,555,759
301,871
$126
$38,070,736
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
361,454,595
31-Dec-60
1-Jan-61
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
$18,693,395
368,683,687
31-Dec-61
1-Jan-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-Dec-62
1-Jan-63
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-Dec-63
1-Jan-64
221%
450,413
$480
$216,005,572
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
1-Jan-65
225%
450,413
$489
$220,325,683
301,871
$139
$42,033,169
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
399,075,080
31-Dec-65
1-Jan-66
230%
450,413
$499
$224,732,197
301,871
$142
$42,873,832
261,360
$421
$110,074,766
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
$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-Dec-67
1-Jan-68
239%
450,413
$519
$233,811,378
301,871
$148
$44,605,935
261,360
$438
$114,521,786
45,738
$199
$9,089,733
32,670
$657
$21,472,835
423,501,667
31-Dec-68
1-Jan-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
$21,902,292
431,971,700
31-Dec-69
1-Jan-70
249%
450,413
$540
$243,257,357
301,871
$154
$46,408,015
261,360
$456
$119,148,467
45,738
$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
$47,336,175
261,360
$465
$121,531,436
45,738
$211
$9,646,098
32,670
$697
$22,787,144
449,423,357
31-Dec-71
1-Jan-72
259%
450,413
$562
$253,084,954
301,871
$160
$48,282,898
261,360
$474
$123,962,065
45,738
$215
$9,839,020
32,670
$711
$23,242,887
458,411,824
31-Dec-72
1-Jan-73
264%
450,413
$573
$258,146,653
301,871
$163
$49,248,556
261,360
$484
$126,441,306
45,738
$219
$10,035,800
32,670
$726
$23,707,745
467,580,061
31-Dec-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
$24,181,900
476,931,662
MtouCap, Ina
'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 ofthe building completed
as of January 1. Assumes
no assessed
value during construction.
Assumes an annual inflation factor of2.0%.
'Provided by the Developer.
EXHIBIT C-1.21
PROJECTED TAXABLE VALUE - 2045 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas
(Valle Ranch)
Exhibit C-1.21:
Projected Acce rat value - 2045 Develoomentt
Residential
Commercial
Development
2.0%
Multi -Family
Industrial
Office
Retail (Big Box)
Retail (Pad/hdine)
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Ending
As Ot'
Factor''
Sq Ft'
Sq Ft
Assessed Value
Sq Ft'
Sq Ft
Assessed Value
Sq Ft'
Sq Ft
Assessed Value
Sq Ft'
Sq Ft
Assessed Value
Sq Ft'
Sq Ft
Assessed Value
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$213
$0
0
$62
$0
0
$183
$0
0
$83
$0
0
$275
$0
0
31-Dec-24
1-Jan-25
102%
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dec-28
1-Jan-29
110%
0
$240
$0
0
$68
$0
0
$202
$0
0
$92
$0
0
$304
$0
0
31-Dec-29
1-Jan-30
113%
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-Dec-30
1-Jan-31
115%
0
$249
$0
0
$71
$0
0
$211
$0
0
$96
$0
0
$316
$0
0
31-Dec-31
1-Jan-32
117%
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-Dec-32
1-Jan-33
120%
0
$260
$0
0
$74
$0
0
$219
$0
0
$99
$0
0
$329
$0
0
31-Dec-33
1-Jan-34
122%
0
$265
$0
0
$75
$0
0
$223
$0
0
$101
$0
0
$335
$0
0
31-Dec-34
1-Jan-35
124%
0
$270
$0
0
$77
$0
0
$228
$0
0
$103
$0
0
$342
$0
0
31-Dec-35
1-Jan-36
127%
0
$275
$0
0
$78
$0
0
$233
$0
0
$105
$0
0
$349
$0
0
31-Dec-36
1-Jan-37
129%
0
$281
$0
0
$80
$0
0
$237
$0
0
$108
$0
0
$356
$0
0
31-Dec-37
1-Jan-38
132%
0
$287
$0
0
$82
$0
0
$242
$0
0
$110
$0
0
$363
$0
0
31-Dec-38
1-Jan-39
135%
0
$292
$0
0
$83
$0
0
$247
$0
0
$112
$0
0
$370
$0
0
31-Dec-39
1-Jan40
137%
0
$298
$0
0
$85
$0
0
$252
$0
0
$114
$0
0
$378
$0
0
31-Dec-40
1-Jan-41
140%
0
$304
$0
0
$87
$0
0
$257
$0
0
$116
$0
0
$385
$0
0
31-Dec-41
1-Jan42
143%
0
$310
$0
0
$88
$0
0
$262
$0
0
$119
$0
0
$393
$0
0
31-Dec-42
1-Jan-43
146%
0
$316
$0
0
$90
$0
0
$267
$0
0
$121
$0
0
$401
$0
0
31-Dec-43
1-Jan-44
149%
0
$323
$0
0
$92
$0
0
$272
$0
0
$124
$0
0
$409
$0
0
31-Dec-44
1-Jan-45
152%
0
$329
$0
0
$94
$0
0
$278
$0
0
$126
$0
0
$417
$0
0
31-Dec-45
1-Jan46
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-Dec-46
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
$434
$14,167,257
279,416,158
31-Dec-47
1-Jan48
161%
450,413
$349
$157,348,354
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-Dec-48
1-Jan-49
164%
450,413
$356
$160,495,322
301,871
$101
$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
1-Jan-50
167%
450,413
$363
$163,705,228
301,871
$103
$31,231,264
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
296,518,662
31-Dec-50
1-Jan-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-Dec-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
$6,621,378
32,670
$479
$15,641,797
308,498,016
31-Dec-52
1-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-Dec-53
1-Jan-54
181%
450,413
$393
$177,199,803
301,871
$112
$33,805,724
261,360
$332
$86,793,202
45,738
$151
$6,888,882
32,670
$498
$16,273,725
320,961,336
31-Dec-54
1-Jan-55
185%
450,413
$401
$180,743,800
301,871
$114
$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-Dec-55
1-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
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-Dec-57
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
347,418,873
31-Dec-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-Dec-59
1-Jan-60
204%
450,413
$443
$199,555,759
301,871
$126
$38,070,736
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
361,454,595
31-Dec-60
1-Jan-61
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
$18,693,395
368,683,687
31-Dec-61
1-Jan-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-Dec-62
1-Jan-63
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-Dec-63
1-Jan-64
221%
450,413
$480
$216,005,572
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
1-Jan-65
225%
450,413
$489
$220,325,683
301,871
$139
$42,033,169
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
399,075,080
31-Dec-65
1-Jan-66
230%
450,413
$499
$224,732,197
301,871
$142
$42,873,832
261,360
$421
$110,074,766
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
$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-Dec-67
1-Jan-68
239%
450,413
$519
$233,811,378
301,871
$148
$44,605,935
261,360
$438
$114,521,786
45,738
$199
$9,089,733
32,670
$657
$21,472,835
423,501,667
31-Dec-68
1-Jan-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
$21,902,292
431,971,700
31-Dec-69
1-Jan-70
249%
450,413
$540
$243,257,357
301,871
$154
$46,408,015
261,360
$456
$119,148,467
45,738
$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
$47,336,175
261,360
$465
$121,531,436
45,738
$211
$9,646,098
32,670
$697
$22,787,144
449,423,357
31-Dec-71
1-Jan-72
259%
450,413
$562
$253,084,954
301,871
$160
$48,282,898
261,360
$474
$123,962,065
45,738
$215
$9,839,020
32,670
$711
$23,242,887
458,411,824
31-Dec-72
1-Jan-73
264%
450,413
$573
$258,146,653
301,871
$163
$49,248,556
261,360
$484
$126,441,306
45,738
$219
$10,035,800
32,670
$726
$23,707,745
467,580,061
31-Dec-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
$24,181,900
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
486,470,295
0
m.,ac.p, Inc.
'According to the Parker County Appmrsal Drstnl
and Tarrant
Count Appmrsal
Drstnct property
is assessed as of January
1 annually. Dmmg
constmchon,
the assessed value represents the portion
ofthe bmldmg completed as of January 1. Assumes
no assessed
value during construct -
'Assumes, an annual
mflatmn factor of2.0%.
'Pravrded by the Developer.
EXHIBIT C-1.22
PROJECTED TAXABLE VALUE - 2046 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit C-1.22: Proiected Assessed Value - 2046 Develonmentl
Residential
Commercial
Development
2.0%
Multi -Family
Industrial
Office
Retail (Big Box)
Retail (Pad/Inline)
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Value Per
Projected
Total Projected
Endin
31-Dcl
As Of"
1-Jan-24
Factor
100%
Sq Ft'
0
S�� Ft
$213
Assessed Value
$0
Sq Fe
0
Sff�� Ft
42
Assessed Value
$0
Sq Fe
0
S��Ft
A.
Assessed Value
$0
Sq Fe
0
Sf� Ft
43
Assessed Value
$0
Sq Fe
0
Sff��Ft
$275
Assessed Value
$0
Assessed Value
0
31-Dec-24
1-Jan-25
102%
0
$217
$0
0
$63
$0
0
$187
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
$0
0
$64
$0
0
$191
$0
0
$87
$0
0
$286
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
$0
0
$66
$0
0
$195
$0
0
$88
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$235
$0
0
$67
$0
0
$198
$0
0
$90
$0
0
$298
$0
0
31-Dec-28
1-Jan-29
110%
0
$240
$0
0
$68
$0
0
$202
$0
0
$92
$0
0
$304
$0
0
31-Dec-29
1-Jan-30
113%
0
$245
$0
0
$70
$0
0
$206
$0
0
$94
$0
0
$310
$0
0
31-Dec-30
1-Jan-31
115%
0
$249
$0
0
$71
$0
0
$211
$0
0
$96
$0
0
$316
$0
0
31-Dec-31
1-Jan-32
117%
0
$254
$0
0
$72
$0
0
$215
$0
0
$97
$0
0
$322
$0
0
31-Dec-32
1-Jan-33
120%
0
$260
$0
0
$74
$0
0
$219
$0
0
$99
$0
0
$329
$0
0
31-Dec-33
1-Jan-34
122%
0
$265
$0
0
$75
$0
0
$223
$0
0
$101
$0
0
$335
$0
0
31-Dec-34
1-Jan-35
124%
0
$270
$0
0
$77
$0
0
$228
$0
0
$103
$0
0
$342
$0
0
31-Dec-35
1-Jan-36
127%
0
$275
$0
0
$78
$0
0
$233
$0
0
$105
$0
0
$349
$0
0
31-Dec-36
1-Jan-37
129%
0
$281
$0
0
$80
$0
0
$237
$0
0
$108
$0
0
$356
$0
0
31-Dec-37
1-Jan-38
132%
0
$287
$0
0
$82
$0
0
$242
$0
0
$110
$0
0
$363
$0
0
31-Dec-38
1-Jan-39
135%
0
$292
$0
0
$83
$0
0
$247
$0
0
$112
$0
0
$370
$0
0
31-Dec-39
1-Jan40
137%
0
$298
$0
0
$85
$0
0
$252
$0
0
$114
$0
0
$378
$0
0
31-Dec-40
1-Jan-41
140%
0
$304
$0
0
$87
$0
0
$257
$0
0
$116
$0
0
$385
$0
0
31-Dec-41
1-Jan42
143%
0
$310
$0
0
$88
$0
0
$262
$0
0
$119
$0
0
$393
$0
0
31-Dec-42
1-Jan-43
146%
0
$316
$0
0
$90
$0
0
$267
$0
0
$121
$0
0
$401
$0
0
31-Dec-43
1-Jan-44
149%
0
$323
$0
0
$92
$0
0
$272
$0
0
$124
$0
0
$409
$0
0
31-Dec-44
1-Jan-45
152%
0
$329
$0
0
$94
$0
0
$278
$0
0
$126
$0
0
$417
$0
0
31-Dec-45
1-Jan46
155%
0
$336
$0
0
$96
$0
0
$283
$0
0
$129
$0
0
$425
$0
0
31-Dec-46
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
$434
$14,167,257
279,416,158
31-Dec-47
1-Jan48
161%
450,413
$349
$157,348,354
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-Dec-48
1-Jan-49
164%
450,413
$356
$160,495,322
301,871
$101
$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
1-Jan-50
167%
450,413
$363
$163,705,228
301,871
$103
$31,231,264
261,360
$307
$80,183,502
45,738
$139
$6,364,262
32,670
$460
$15,034,407
296,518,662
31-Dec-50
1-Jan-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-Dec-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
$6,621,378
32,670
$479
$15,641,797
308,498,016
31-Dec-52
1-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-Dec-53
1-Jan-54
181%
450,413
$393
$177,199,803
301,871
$112
$33,805,724
261,360
$332
$86,793,202
45,738
$151
$6,888,882
32,670
$498
$16,273,725
320,961,336
31-Dec-54
1-Jan-55
185%
450,413
$401
$180,743,800
301,871
$114
$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-Dec-55
1-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
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-Dec-57
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
347,418,873
31-Dec-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-Dec-59
1-Jan-60
204%
450,413
$443
$199,555,759
301,871
$126
$38,070,736
261,360
$374
$97,743,242
45,738
$170
$7,758,000
32,670
$561
$18,326,858
361,454,595
31-Dec-60
1-Jan-61
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
$18,693,395
368,683,687
31-Dec-61
1-Jan-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-Dec-62
1-Jan-63
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-Dec-63
1-Jan-64
221%
450,413
$480
$216,005,572
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
1-Jan-65
225%
450,413
$489
$220,325,683
301,871
$139
$42,033,169
261,360
$413
$107,916,437
45,738
$187
$8,565,459
32,670
$619
$20,234,332
399,075,080
31-Dec-65
1-Jan-66
230%
450,413
$499
$224,732,197
301,871
$142
$42,873,832
261,360
$421
$110,074,766
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
$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-Dec-67
1-Jan-68
239%
450,413
$519
$233,811,378
301,871
$148
$44,605,935
261,360
$438
$114,521,786
45,738
$199
$9,089,733
32,670
$657
$21,472,835
423,501,667
31-Dec-68
1-Jan-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
$21,902,292
431,971,700
31-Dec-69
1-Jan-70
249%
450,413
$540
$243,257,357
301,871
$154
$46,408,015
261,360
$456
$119,148,467
45,738
$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
$47,336,175
261,360
$465
$121,531,436
45,738
$211
$9,646,098
32,670
$697
$22,787,144
449,423,357
31-Dec-71
1-Jan-72
259%
450,413
$562
$253,084,954
301,871
$160
$48,282,898
261,360
$474
$123,962,065
45,738
$215
$9,839,020
32,670
$711
$23,242,887
458,411,824
31-Dec-72
1-Jan-73
264%
450,413
$573
$258,146,653
301,871
$163
$49,248,556
261,360
$484
$126,441,306
45,738
$219
$10,035,800
32,670
$726
$23,707,745
467,580,061
31-Dec-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
$24,181,900
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
486,470,295
31-Dec-75
1-Jan-76
280%
450,413
$608
$273,947,294
301,871
$173
$52,262,962
261,360
$513
$134,180,525
45,738
$233
$10,650,071
32,670
$770
$25,158,849
496,199,701
MuniCap, Inc
'According to the Parker County Appraisal District and Tamar 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%.
'Provided 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: Proiected Assessed Value - 2047 Develonmentl
Development
Year
Ending
Assessed
As Of'
2.0%
Inflation
Factor'
Sq Ft'
Residential
Multi -Family
Value Per
Sq Ft
Projected
Assessed Value
Sq Ft'
Industrial
Value Per
Sq Ft
Projected
Assessed Value
Sq Ft'
Commercial
Retail (Big
Value Per
Sq Ft
Box)
Projected
Assessed Value
Sq Ft'
Retail (Pad/Inline)
Value Per Projected
Sq Ft Assessed Value
Total Projected
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$213
$0
0
$62
$0
0
$83
$0
0
$275
$0
0
31-Dec-24
1-Jan-25
102%
0
$217
$0
0
$63
$0
0
$85
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
$0
0
$64
$0
0
$87
$0
0
$286
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
$0
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
$0
0
$298
$0
0
31-Dec-28
1-Jan-29
I10%
0
$240
$0
0
$68
$0
0
$92
$0
0
$304
$0
0
31-Dec-29
1-Jan-30
113%
0
$245
$0
0
$70
$0
0
$94
$0
0
$310
$0
0
31-Dec-30
1-Jan-31
115%
0
$249
$0
0
$71
$0
0
$96
$0
0
$316
$0
0
31-Dec-31
1-Jan-32
117%
0
$254
$0
0
$72
$0
0
$97
$0
0
$322
$0
0
31-Dec-32
1-Jan-33
120%
0
$260
$0
0
$74
$0
0
$99
$0
0
$329
$0
0
31-Dec-33
1-Jan-34
122%
0
$265
$0
0
$75
$0
0
$101
$0
0
$335
$0
0
31-Dec-34
1-Jan-35
124%
0
$270
$0
0
$77
$0
0
$103
$0
0
$342
$0
0
31-Dec-35
1-Jan-36
127%
0
$275
$0
0
$78
$0
0
$105
$0
0
$349
$0
0
31-Dec-36
1-Jan-37
129%
0
$281
$0
0
$80
$0
0
$108
$0
0
$356
$0
0
31-Dec-37
1-Jan-38
132%
0
$287
$0
0
$82
$0
0
$110
$0
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-Jan-40
137%
0
$298
$0
0
$85
$0
0
$114
$0
0
$378
$0
0
31-Dec-40
1-Jan-41
140%
0
$304
$0
0
$87
$0
0
$116
$0
0
$385
$0
0
31-Dec-41
1-Jan-42
143%
0
$310
$0
0
$88
$0
0
$119
$0
0
$393
$0
0
31-Dec-42
1-Jan-43
146%
0
$316
$0
0
$90
$0
0
$121
$0
0
$401
$0
0
31-Dec-43
1-Jan-44
149%
0
$323
$0
0
$92
$0
0
$124
$0
0
$409
$0
0
31-Dec-44
1-Jan-45
152%
0
$329
$0
0
$94
$0
0
$126
$0
0
$417
$0
0
31-Dec-45
1-Jan-46
155%
0
$336
$0
0
$96
$0
0
$129
$0
0
$425
$0
0
31-Dec-46
1-Jan-47
158%
0
$342
$0
0
$97
$0
0
$131
$0
0
$434
$0
0
31-Dec-47
1-Jan-48
161%
450,413
$349
$157,348,354
301,871
$99
$30,018,515
45,738
$134
$6,117,130
32,670
$442
$14,450,602
207,934,602
31-Dec-48
1-Jan-49
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-Dec-49
1-Jan-50
167%
450,413
$363
$163,705,228
301,871
$103
$31,231,264
45,738
$139
$6,364,262
32,670
$460
$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-Dec-51
1-Jan-52
174%
450,413
$378
$170,318,919
301,871
$108
$32,493,007
45,738
$145
$6,621,378
32,670
$479
$15,641,797
225,075,101
31-Dec-52
1-Jan-53
178%
450,413
$386
$173,725,298
301,871
$110
$33,142,867
45,738
$148
$6,753,806
32,670
$488
$15,954,633
229,576,603
31-Dec-53
1-Jan-54
181%
450,413
$393
$177,199,803
301,871
$112
$33,805,724
45,738
$151
$6,888,882
32,670
$498
$16,273,725
234,168,135
31-Dec-54
1-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-Dec-55
1-Jan-56
188%
450,413
$409
$184,358,676
301,871
$117
$35,171,475
45,738
$157
$7,167,193
32,670
$518
$16,931,184
243,628,527
31-Dec-56
1-Jan-57
192%
450,413
$417
$188,045,849
301,871
$119
$35,874,905
45,738
$160
$7,310,536
32,670
$529
$17,269,807
248,501,098
31-Dec-57
1-Jan-58
196%
450,413
$426
$191,806,766
301,871
$121
$36,592,403
45,738
$163
$7,456,747
32,670
$539
$17,615,204
253,471,120
31-Dec-58
1-Jan-59
200%
450,413
$434
$195,642,901
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
$38,070,736
45,738
$170
$7,758,000
32,670
$561
$18,326,858
263,711,353
31-Dec-60
1-Jan-61
208%
450,413
$452
$203,546,875
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
$207,617,812
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
$211,770,168
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
$19,837,580
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
$224,732,197
301,871
$142
$42,873,832
45,738
$191
$8,736,768
32,670
$632
$20,639,019
296,981,815
31-Dec-66
1-Jan-67
234%
450,413
$509
$229,226,841
301,871
$145
$43,731,309
45,738
$195
$8,911,503
32,670
$644
$21,051,799
302,921,452
31-Dec-67
1-Jan-68
239%
450,413
$519
$233,811,378
301,871
$148
$44,605,935
45,738
$199
$9,089,733
32,670
$657
$21,472,835
308,979,881
31-Dec-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-Dec-69
1-Jan-70
249%
450,413
$540
$243,257,357
301,871
$154
$46,408,015
45,738
$207
$9,456,958
32,670
$684
$22,340,337
321,462,668
31-Dec-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
259%
450,413
$562
$253,084,954
301,871
$160
$48,282,898
45,738
$215
$9,839,020
32,670
$711
$23,242,887
334,449,760
31-Dec-72
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-Jan-74
269%
450,413
$585
$263,309,587
301,871
$166
$50,233,528
45,738
$224
$10,236,516
32,670
$740
$24,181,900
347,961,530
31-Dec-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
$24,665,538
354,920,760
31-Dec-75
1-Jan-76
280%
450,413
$608
$273,947,294
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
$279,426,240
301,871
$177
$53,308,221
45,738
$238
$10,863,073
32,670
$785
$25,662,025
369,259,559
MumCap, Inc
'According to the Parker CountyAppraisal 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%.
rProvrded by the Developer
EXHIBIT C-1.24
PROJECTED TAXABLE VALUE - 2048 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaie Ranch)
Exhibit C-1.24: Proiected Assessed Value - 2048 Develonmentl
Residential
Development 2.0% Mulfi-Family
Year Assessed Inflation Value Per
Ending As Ott Factor' Sq Ft' Sq Ft
Projected
Assessed Value
Sq Ft'
Industrial
Value Per
Sq Ft
Commercial
Projected
Assessed Value Sq Ft'
Retail (Pad/Inline)
Value Per Projected
Sq Ft Assessed Value
Total Projected
Assessed Value
31-Dec-23
I Jan-24
100%
0
$213
$0
0
$62
$0
0
$275
$0
0
31-Dec-24
I-Jan-25
102%
0
$217
$0
0
$63
$0
0
$281
$0
0
31-Dec-25
1-Jan-26
104%
0
$226
$0
0
$64
$0
0
$286
$0
0
31-Dec-26
1-Jan-27
106%
0
$230
$0
0
$66
$0
0
$292
$0
0
31-Dec-27
1-Jan-28
108%
0
$235
$0
0
$67
$0
0
$298
$0
0
31-Dec-28
1-Jan-29
110%
0
$240
$0
0
$68
$0
0
$304
$0
0
31-Dec-29
1-Jan-30
113%
0
$245
$0
0
$70
$0
0
$310
$0
0
31-Dec-30
1-Jan-31
115%
0
$249
$0
0
$71
$0
0
$316
$0
0
31-Dec-31
l-Jan-32
117%
0
$254
$0
0
$72
$0
0
$322
$0
0
31-Dec-32
I-Jan-33
120%
0
$260
$0
0
$74
$0
0
$329
$0
0
31-Dec-33
1-Jan-34
122%
0
$265
$0
0
$75
$0
0
$335
$0
0
31-Dec-34
I-Jan-35
124%
0
$270
$0
0
$77
$0
0
$342
$0
0
31-Dec-35
1-Jan-36
127%
0
$275
$0
0
$78
$0
0
$349
$0
0
31-Dec-36
I-Jan-37
129%
0
$281
$0
0
$80
$0
0
$356
$0
0
31-Dec-37
1-Jan-38
132%
0
$287
$0
0
$82
$0
0
$363
$0
0
31-Dec-38
I-Jan-39
135%
0
$292
$0
0
$83
$0
0
$370
$0
0
31-Dec-39
1-Jan-40
137%
0
$298
$0
0
$85
$0
0
$378
$0
0
31-Dec-40
1-Jan-41
140%
0
$304
$0
0
$87
$0
0
$385
$0
0
31-Dec-41
I Jan-42
143%
0
$310
$0
0
$88
$0
0
$393
$0
0
31-Dec-42
1-Jan-43
146%
0
$316
$0
0
$90
$0
0
$401
$0
0
31-Dec-43
I Jan-44
149%
0
$323
$0
0
$92
$0
0
$409
$0
0
31-Dec-44
1-Jan-45
152%
0
$329
$0
0
$94
$0
0
$417
$0
0
31-Dec-45
1-Jan-46
155%
0
$336
$0
0
$96
$0
0
$425
$0
0
31-Dec-46
1-Jan-47
158%
0
$342
$0
0
$97
$0
0
$434
$0
0
31-Dec-47
1-Jan-48
161%
0
$349
$0
0
$99
$0
0
$442
$0
0
31-Dec-48
1-Jan-49
164%
450,413
$356
$160,495,322
301,871
$101
$30,618,886
32,670
$451
$14,739,614
206,150,939
31-Dec-49
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
I Jan-51
171%
450,413
$371
$166,979,333
301,871
$106
$31,855,889
32,670
$469
$15,335,095
214,479,437
31-Dec-51
1-Jan-52
174%
450,413
$378
$170,318,919
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
$33,142,867
32,670
$488
$15,954,633
223,144,407
31-Dec-53
1-Jan-54
181%
450,413
$393
$177,199,803
301,871
$112
$33,805,724
32,670
$498
$16,273,725
227,607,295
31-Dec-54
1-Jan-55
185%
450,413
$401
$180,743,800
301,871
$114
$34,481,838
32,670
$508
$16,599,200
232,159,441
31-Dec-55
1-Jan-56
188%
450,413
$409
$184,358,676
301,871
$117
$35,171,475
32,670
$518
$16,931,184
236,802,630
31-Dec-56
1-Jan-57
192%
450,413
$417
$188,045,849
301,871
$119
$35,874,905
32,670
$529
$17,269,807
241,538,682
31-Dec-57
1-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
301,871
$124
$37,324,251
32,670
$550
$17,967,508
251,296,845
31-Dec-59
1-Jan-60
204%
450,413
$443
$199,555,759
301,871
$126
$38,070,736
32,670
$561
$18,326,858
256,322,782
31-Dec-60
l-Jan-61
208%
450,413
$452
$203,546,875
301,871
$129
$38,832,151
32,670
$572
$18,693,395
261,449,237
31-Dec-61
1-Jan-62
212%
450,413
$461
$207,617,812
301,871
$131
$39,608,794
32,670
$584
$19,067,263
266,678,222
31-Dec-62
l-Jan-63
216%
450,413
$470
$211,770,168
301,871
$134
$40,400,970
32,670
$595
$19,448,608
272,011,787
31-Dec-63
1-Jan-64
221%
450,413
$480
$216,005,572
301,871
$137
$41,208,989
32,670
$607
$19,837,580
277,452,022
31-Dec-64
l-Jan-65
225%
450,413
$489
$220,325,683
301,871
$139
$42,033,169
32,670
$619
$20,234,332
283,001,063
31-Dec-65
1-Jan-66
230%
450,413
$499
$224,732,197
301,871
$142
$42,873,832
32,670
$632
$20,639,019
288,661,084
31-Dec-66
l-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
1-Jan-68
239%
450,413
$519
$233,811,378
301,871
$148
$44,605,935
32,670
$657
$21,472,835
300,322,992
31-Dec-68
l-Jan-69
244%
450,413
$529
$238,487,605
301,871
$151
$45,498,054
32,670
$670
$21,902,292
306,329,452
31-Dec-69
1-Jan-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
l-Jan-71
254%
450,413
$551
$248,122,504
301,871
$157
$47,336,175
32,670
$697
$22,787,144
318,705,161
31-Dec-71
I Jan-72
259%
450,413
$562
$253,084,954
301,871
$160
$48,282,898
32,670
$711
$23,242,887
325,079,265
31-Dec-72
l-Jan-73
264%
450,413
$573
$258,146,653
301,871
$163
$49,248,556
32,670
$726
$23,707,745
331,580,850
31-Dec-73
1-Jan-74
269%
450,413
$585
$263,309,587
301,871
$166
$50,233,528
32,670
$740
$24,181,900
338,212,467
31-Dec-74
l-Jan-75
275%
450,413
$596
$268,575,778
301,871
$170
$51,238,198
32,670
$755
$24,665,538
344,976,716
31-Dec-75
1-Jan-76
280%
450,413
$608
$273,947,294
301,871
$173
$52,262,962
32,670
$770
$25,158,849
351,876,251
31-Dec-76
l-Jan-77
286%
450,413
$620
$279,426,240
301,871
$177
$53,308,221
32,670
$785
$25,662,025
358,913,776
31-Dec-77
1-Jan-78
291%
450,413
$633
$285,014,765
301,871
$180
$54,374,386
32,670
$801
$26,175,266
366,092,051
MumCap, ]-
'According to the Parker County Appraisal District and Tarrant Court Appraisal District property is assessed as of January t annually. During constmction, the assessed value represents the portion of the building completed as of January 1. Assumes no assessed value during
'Ass Ines an annual inflation factor of 2.0%.
'Provided by the Developer.
EXHIBIT C-1.25
PROJECTED TAXABLE VALUE - 2049 DEVELOPMENT
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit C-1.25: Projected Assessed Value - 2049 Develonmentl
Residential
Commercial
Development
2.0%
Multi -Family
Industrial
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Total Projected
Ending
As Oe
Factor
Sq Ft'
Sq Ft
Assessed Value
Sq Ft'
Sq Ft
Assessed Value
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$213
$0
0
$62
$0
0
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-Dec41
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
149%
0
$323
$0
0
$92
$0
0
31-Dec44
1-Jan-45
152%
0
$329
$0
0
$94
$0
0
31-Dec45
1-Jan-46
155%
0
$336
$0
0
$96
$0
0
31-Dec46
1-Jan-47
158%
0
$342
$0
0
$97
$0
0
31-Dec47
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-Dec49
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
301,871
$126
$38,070,736
237,626,495
31-Dec-60
1-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
301,871
$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
1-Jan-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
301,871
$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.
2Assumes 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 (Veale Ranch)
Exhibit C-1.26: Proiected Assessed Value - 2050 Develonmentl
Residential
Commercial
Development
2.0%
Multi -Family
Industrial
Year
Assessed
Inflation
Value Per
Projected
Value Per
Projected
Total Projected
Ending
As Of'
Factor
Sq Ft'
Sq Ft
Assessed Value
Sq Ft'
Sq Ft
Assessed Value
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$213
$0
0
$62
$0
0
31-Dec-24
1-Jan-25
102%
0
$217
$0
0
$63
$0
0
31-Dec-25
I 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
I 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
I 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
I 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
$177,199,803
301,871
$112
$33,805,724
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
192%
450,413
$417
$188,045,849
301,871
$119
$35,874,905
224,268,875
31-Dec-57
1-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
I 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
301,871
$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
I 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
I 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
I 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
$253,084,954
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
I 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.
2Assumes an annual inflation factor of 2.0%.
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 DevelonmentI
Development
Year
Ending
Assessed
As Of'
2.0%
Inflation
Factor
Sq Ft'
Residential
Multi -Family
Value Per
Sq Ft
Projected
Assessed Value
Total Projected
Assessed Value
31-Dec-23
1-Jan-24
100%
0
$213
$0
0
31-Dec-24
1-Jan-25
102%
0
$217
$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
$235
$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
$265
$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
$287
$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
$336
$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-Dec-48
1-Jan-49
164%
0
$356
$0
0
31-Dec-49
1-Jan-50
167%
0
$363
$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
$608
$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
AAsuumes an annual inflation factor of 2.0%.
3Provided by the Developer.
EXHIBIT C-2.1
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2025-2029
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit C-2.1: Projected 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 Oi
Factor
Projected Assessed Value3
Projected Assessed Value
Projected Assessed Values
Projected Assessed Value
Projected Assessed Value
At Buildout
31-Dec-23
1-Jan-24
100%
$0
$0
$0
$0
$0
$0
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
$1,584,750,109
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
$1,715,384,484
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
$1,931,801,540
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
$688,204,806
$2,050,043,249
31-Dec-51
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
$372,956,119 =
$90,299,647
$742,561,236
$759,833,715
$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
$388,023,546
$93,947,753
P772,560,710 ;
$790,530,997
$1,563,091,707
31-Dec-58
1-Jan-59
200%
$315,988,138
$395,784,017
$95,826,708
$788,011,924
$806,341,617
$806,341,617
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%.
'See Exhibit C-1.1.
4See Exhibit C-1.2.
'See Exhibit C-1.3.
'See 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 (Veaue Ranch)
Exhibit C-2.2: Proiected Assessed Value - All Land Uses - Development Years 2030-2034
Development
Year
Ending
Assessed
As Oe
2.0%
Inflation
Factor
2030 Development
Projected Assessed Value
2031 Development
Projected Assessed Value
2032 Development
Projected Assessed Values
2033 Development
Projected Assessed Value6
2034 Development
Projected Assessed Value'
31-Dec-23
1-Jan-24
100%
$0
$0
$0
$0
$0
31-Dec-24
1-Jan-25
102%
$0
$0
$0
$0
$0
31-Dec-25
1-Jan-26
104%
$0
$0
$0
$0
$0
31-Dec-26
1-Jan-27
106%
$0
$0
$0
$0
$0
31-Dec-27
1-Jan-28
108%
$0
$0
$0
$0
$0
31-Dec-28
1-Jan-29
110%
$0
$0
$0
$0
$0
31-Dec-29
1-Jan-30
113%
$0
$0
$0
$0
$0
31-Dec-30
1-Jan-31
115 %
$463,142,106
$0
$0
$0
$0
31-Dec-31
1-Jan-32
117%
$472,404,948
$472,404,948
$0
$0
$0
31-Dec-32
1-Jan-33
120 %
$481,853,047
$481,853,047
$481,853,047
$0
$0
31-Dec-33
1-Jan-34
122%
$491,490,108
$491,490,108
$491,490,108
$491,490,108
$0
31-Dec-34
1-Jan-35
124%
$501,319,910
$501,319,910
$501,319,910
$501,319,910
$501,319,910
31-Dec-35
1-Jan-36
127%
$511,346,308
$511,346,308
$511,346,308
$511,346,308
$511,346,308
31-Dec-36
1-Jan-37
129%
$521,573,234
$521,573,234
$521,573,234
$521,573,234
$521,573,234
31-Dec-37
1-Jan-38
132%
$532,004,699
$532,004,699
$532,004,699
$532,004,699
$532,004,699
31-Dec-38
1-Jan-39
135%
$542,644,793
$542,644,793
$542,644,793
$542,644,793
$542,644,793
31-Dec-39
1-Jan-40
137%
$553,497,689
$553,497,689
$553,497,689
$553,497,689
$553,497,689
31-Dec-40
1-Jan-41
140%
$564,567,642
$564,567,642
$564,567,642
$564,567,642
$564,567,642
31-Dec-41
1-Jan-42
143%
$575,858,995
$575,858,995
$575,858,995
$575,858,995
$575,858,995
31-Dec-42
1-Jan-43
146%
$587,376,175
$587,376,175
$587,376,175
$597,376,175
$597,376,175
31-Dec-43
1-Jan-44
149%
$599,123,699
$599,123,699
$599,123,699
$599,123,699
$599,123,699
31-Dec-44
1-Jan-45
152%
$611,106,173
$611,106,173
$611,106,173
$611,106,173
$611,106,173
31-Dec-45
1-Jan-46
155%
$623,328,296
$623,328,296
$623,328,296
$623,328,296
$623,328,296
31-Dec-46
1-Jan-47
158%
$635,794,862
$635,794,862
$635,794,862
$635,794,862
$635,794,862
31-Dec-47
1-Jan-48
161%
$648,510,759
$648,510,759
$648,510,759
$648,510,759
$648,510,759
31-Dec-48
1-Jan-49
164%
$661,480,974
$661,480,974
$661,480,974
$661,480,974
$661,480,974
31-Dec-49
1-Jan-50
167%
$674,710,594
$674,710,594
$674,710,594
$674,710,594
$674,710,594
31-Dec-50
1-Jan-51
171%
$688,204,806
$688,204,806
$688,204,806
$688,204,806
$688,204,806
31-Dec-51
1-Jan-52
174%
$701,968,902
$701,968,902
$701,968,902
$701,968,902
$701,968,902
31-Dec-52
1-Jan-53
178%
$716,008,280
$716,008,280
$716,008,280
$716,008,280
$716,008,280
31-Dec-53
1-Jan-54
181%
$730,328,445
$730,328,445
$730,328,445
$730,328,445
$730,328,445
31-Dec-54
1-Jan-55
185%
$744,935,014
$744,935,014
$744,935,014
$744,935,014
$744,935,014
31-Dec-55
1-Jan-56
188%
$759,833,715
$759,833,715
$759,833,715
$759,833,715
$759,833,715
31-Dec-56
1-Jan-57
192%
$775,030,389
$775,030,389
$775,030,389
$775,030,389
$775,030,389
31-Dec-57
1-Jan-58
196%
$790,530,997
$790,530,997
$790,530,997
$790,530,997
$790,530,997
31-Dec-58
1-Jan-59
200%
$806,341,617
$806,341,617
$806,341,617
$806,341,617
$806,341,617
31-Dec-59
1-Jan-60
204%
. $822,468,449
$822,468,449
$822,468,449
$822,468,449
$822,468,449
31-Dec-60
1-Jan-61
208%
$838,917:818
$838,917,818
$838,917,818
$838,917,818
$838,917,818
31-Dec-61
1-Jan-62
212%
$855,696,174
$855,696,174
d§M___$855,696,174
$855,696,174
$855,696,174
31-Dec-62
1-Jan-63
216%
$872,810,098
$872,810,098
$872,810,098
$872,810,098
$872,810,098
31-Dec-63
1-Jan-64
221%
$890,266,300
$890,266,300
$890,266,300
$890,266,300
$890,266,300
Total Projected
Assessed Value
At Buildout
$0
$0
$0
$0
$0
$0
$0
$463,142,106
$944,809,895
$1,445,559,140
$1,965,960,430
$2,506,599,548
$2,556,731,539
$2,607,866,170
$2,660,023,494
$2,713,223,963
$2,767,488,443
$2,822,838,212
$2,879,294,976
$2,936,880,875
$2,995,618,493
$3,055,530,863
$3,116,641,480
$3,178,974,310
$3,242,553,796
$3,307,404,872
$3,373,552,969
$3,441,024,029
$3,509,844,509
$3,580,041,399
$3,651,642,227
$3,724,675,072
$3,799,168,573
$3,875,151,945
$3,952,654,984
$4,031,708,083
$4,112,342,245
$3,355,671,272
$2,567,088,523
$1,745,620,196
$890,266,300
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
Assumes an annual inflation factor of 2.0%.
3See Exhibit C-1.6.
°See Exhibit C-1.7.
'See Exhibit C-1.8.
6See Exhibit C-1.9.
7See Exhibit C-1.10.
EXHIBIT C-2.3
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2035-2039
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit C-2.3: Projected Assessed Value - All Land Uses - Develonment Years 2035-2039
Development
2.0%
Total Projected
Year
Assessed
Inflation
2035 Development
2036 Development
2037 Development
2038 Development
2039 Development
Assessed Value
Ending
As Of"
Factor'
Projected Assessed Value'
Projected Assessed Value
Projected Assessed Values
Projected Assessed Value'
Projected Assessed Value'
At Buildout
31-Dec-23
1-Jan-24
100%
$0
$0
$0
$0
$0
$0
31-Dec-24
Wari-25
102%
$0
$0
$0
$0
$0
$0
31-Dec-25
1-Jan-26
104%
$0
$0
$0
$0
$0
$0
31-Dec-26
Wari-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
Wari-31
115%
$0
$0
$0
$0
$0
$0
31-Dec-31
1-Jan-32
117%
$0
$0
$0
$0
$0
$0
31-Dec-32
Wari-33
120%
$0
$0
$0
$0
$0
$0
31-Dec-33
1-Jan-34
122%
$0
$0
$0
$0
$0
$0
31-Dec-34
1-Jan-35
124%
$0
$0
$0
$0
$0
$0
31-Dec-35
1-Jan-36
127%
$511,346,308
$0
$0
$0
$0
$511,346,308
31-Dec-36
Wari-37
129%
$521,573,234
$521,573,234
$0
$0
$0
$1,043,146,468
31-Dec-37
1-Jan-38
132%
$532,004,699
$532,004,699
$532,004,699
$0
$0
$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
1-Jan40
137%
$553,497,689
$553,497,689
$553,497,689
$553,497,689
$553,497,689
$2,767,488,443
31-Dec-40
1-Jan-41
140%
$564,567,642
$564,567,642
$564,567,642
$564,567,642
$564,567,642
$2,822,838,212
31-Dec-41
1-Jan42
143%
$575,858,995
$575,858,995
$575,858,995
$575,858,995
$575,858,995
$2,879,294,976
31-Dec-42
Wari-43
146%
$587,376,175
$587,376,175
$587,376,175
$587,376,175
$587,376,175
$2,936,880,875
31-Dec-43
1-Jan-44
149%
$599,123,699
$599,123,699
$599,123,699
$599,123,699
$599,123,699
$2,995,618,493
31-Dec-44
Wari-45
152%
$611,106,173
$611,106,173
$611,106,173
$611,106,173
$611,106,173
$3,055,530,863
31-Dec-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-Jan-47
158%
$635,794,862
$635,794,862
$635,794,862
$635,794,862
$635,794,862
$3,178,974,310
31-Dec-47
1-Jan-48
161%
$648,510,759
$648,510,759
$648,510,759
$648,510,759
$648,510,759
$3,242,553,796
31-Dec-48
1-Jan49
164%
$661,480,974
$661,480,974
$661,480,974
$661,480,974
$661,480,974
$3,307,404,872
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
$688,204,806
$688,204,806
$688,204,806
$3,441,024,029
31-Dec-51
1-Jan-52
174%
$701,968,902
$701,968,902
$701,968,902
$701,968,902
$701,968,902
$3,509,844,509
31-Dec-52
Wari-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
181%
$730,328,445
$730,328,445
$730,328,445
$730,328,445
$730,328,445
$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-Dec-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
Wari-57
192%
$775,030,389
$775,030,389
$775,030,389
$775,030,389
$775,030,389
$3,875,151,945
31-Dec-57
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-Dec-59
1-Jan-60
204%
$822,468,449
$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
$838,917,818
$838,917,818
$838,917,818
$838,917,818
$4,194,589,090
31-Dec-61
1-Jan-62
212%
$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
$4,364,050,489
31-Dec-63
1-Jan-64
221%
$890,266,300
$890,266,300
$890,266,300
$890,266,300
$890,266,300
$4,451,331,499
31-Dec-64
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
$926,233,058
$926,233,058
$926,233,058
$926,233,058
$3,704,932,233
31-Dec-66
1-Jan-67
234%
$944,757,719
$944,757,719
$944,757,719
$944,757,719
$944,757,719
$2,834,273,158
31-Dec-67
1-Jan-68
239%
$963,652,874
$963,652,874
$963,652,874
$963,652,874
$963,652,874
$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
$982,925,931
MuniCap, Inc
'According to the Parker County Appraisal Distna 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.
rAaamoss an annual inflation factor or2.0%.
'See Exhibit C-1.11.
°See Exhibit C-1.12.
'See Exhibit C-1.13.
'See Exhibit C-1.14.
7See Exhibit C-1.15.
EXHIBIT C-2.4
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2040-2044
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Velle Ranch)
Exhibit C-2.4: Proiected Assessed Value - All Land Uses - Development Years 2040-2044
Development
Year
Ending
Assessed
As Of Factor2
2.0%
Inflation
2040 Development
Projected Assessed Value'
2041 Development
Projected Assessed Value°
2042 Development
Projected Assessed Values
2043 Development
Projected Assessed Value6
2044 Development
Projected Assessed Value'
Total Projected
Assessed Value
At Buildout
31-Dec-23
1-Jan-24
100%
$0
$0
$0
$0
$0
$0
31-Dec-24
1-Jan-25
102%
$0
$0
$0
$0
$0
$0
31-Dec-25
1-Jan-26
1041/.
$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%
$0
$0
$0
$0
$0
$0
31-Dec-31
1-Jan-32
117%
$0
$0
$0
$0
$0
$0
31-Dec-32
1-Jan-33
I20%
$0
$0
$0
$0
$0
$0
31-Dec-33
1-Jan-34
122%
$0
$0
$0
$0
$0
$0
31-Dec-34
1-Jan-35
124%
$0
$0
$0
$0
$0
$0
31-Dec-35
1-Jan-36
127%
$0
$0
$0
$0
$0
$0
31-Dec-36
1-Jan-37
129%
$0
$0
$0
$0
$0
$0
31-Dec-37
1-Jan-38
132%
$0
$0
$0
$0
$0
$0
31-Dec-38
1-Jan-39
135%
$0
$0
$0
$0
$0
$0
31-Dec-39
1-Jan-40
137%
$0
$0
$0
$0
$0
$0
31-Dec-40
1-Jan-41
140%
$534,830,734
$0
$0
$0
$0
$534,830,734
31-Dec-41
1-Jan-42
143%
$545,527,349
$545,527,349
$0
$0
$0
$1,091,054,698
31-Dec-42
1-Jan-43
146%
$556,437,896
$556,437,896
$311,945,977
$0
$0
$1,424,821,769
31-Dec-43
1-Jan-44
149%
$567,566,654
$567,566,654
$318,184,897
$318,184,897
$0
$1,771,503,101
31-Dec-44
1-Jan-45
152%
$578,917,987
$578,917,987
$324,548,595
$324,548,595
$268,566,088
$2,075,499,252
31-Dec-45
1-Jan-46
155%
$590,496,347
$590,496,347
$331,039,567
$331,039,567
$273,937,410
$2,117,009,237
31-Dec-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-Dec-47
1-Jan-48
161%
$614,352,399
$614,352,399
$344,413,565
$344,413,565
$285,004,481
$2,202,536,410
31-Dec-48
1-Jan-49
164%
$626,639,447
$626,639,447
$351,301,837
$351,301,837
$290,704,571
$2,246,587,138
31-Dec-49
1-Jan-50
167%
$639,172,236
$639,172,236
$358,327,873
$358,327,873
$296,518,662
$2,291,518,881
31-Dec-50
1-Jan-51
171%
$651,955,681
$651,955,681
$365,494,431
$365,494,431
$302,449,036
$2,337,349,258
31-Dec-51
1-Jan-52
174%
$664,994,794
$664,994,794
$372,804,319
$372,804,319
$308,498,016
$2,384,096,244
31-Dec-52
1-Jan-53
178%
$678,294,690
$678,294,690
$380,260,406
$380,260,406
$314,667,977
$2,431,778,168
31-Dec-53
1-Jan-54
181%
$691,860,584
$691,860,584
$387,865,614
$387,865,614
$320,961,336
$2,480,413,732
31-Dec-54
1-Jan-55
185%
$705,697,796
$705,697,796
$395,622,926
$395,622,926
$327,380,563
$2,530,022,006
31-Dec-55
1-Jan-56
188%
$719,811,751
$719,811,751
$403,535,385
$403,535,385
$333,928,174
$2,580,622,447
31-Dec-56
1-Jan-57
192%
$734,207,986
$734,207,986
$411,606,092
$411,606,092
$340,606,738
$2,632,234,895
31-Dec-57
1-Jan-58
196%
$748,892,146
$748,892,146
$419,838,214
$419,838,214
$347,418,873
$2,684,879,593
31-Dec-58
1-Jan-59
200%
$763,869,989
$763,869,989
$428,234,978
$428,234,978
$354,367,250
$2,738,577,185
31-Dec-59
1-Jan-60
204%
$779,147,389
$779,147,389
$436,799,678
$436,799,678
$361,454,595
$2,793,348,729
31-Dec-60
1-Jan-61
208%
$794,730,337
$794,730,337
$445,535,672
$445,535,672
$368,683,687
$2,849,215,703
31-Dec-61
1-Jan-62
212%
$810,624,943
$810,624,943
$454,446,385
$454,446,385
$376,057,361
$2,906,200,018
31-Dec-62
1-Jan-63
216%
$826,837,442
$826,837,442
$463,535,313
$463,535,313
$383,578,508
$2,964,324,018
31-Dec-63
1-Jan-64
221%
$843,374,191
$843,374,191
$472,806,019
$472,806,019
$391,250,078
$3,023,610,498
31-Dec-64
1-Jan-65
225%
$860,241,675
$860,241,675
$482,262,139
$482,262,139
$399,075,080
$3,084,082,708
31-Dec-65
1-Jan-66
230%
$877,446,508
$877,446,508
$491,907,382
$491,907,382
$407,056,581
$3,145,764,362
31-Dec-66
1-Jan-67
234%
$894,995,439
$894,995,439
$501,745,530
$501,745,530
$415,197,713
$3,208,679,650
31-Dec-67
1-Jan-68
239%
$912,895,347
$912,895,347
$511,780,440
$511,780,440
$423,501,667
$3,272,853,243
31-Dec-68
1-Jan-69
244%
$931,153,254
$931,153,254
$522,016,049
$522,016,049
$431,971,700
$3,338,310,307
31-Dec-69
1-Jan-70
249%
�949,776,319
$949,776,319
$532,456,370
$532,456,370
$440,611,134
$3,405,076,514
31-Dec-70
1-Jan-71
254%
$968,771,846
$968,771,846
$543,105,498
$543,105,498
$449,423,357
$2,504,406,198
31-Dec-71
1-Jan-72
259%
$988,147,283
$988,147,283
$553,967,608
$553,967,608
$458,411,824
$1,566,347,039
31-Dec-72
1-Jan-73
264%
$1,007,910,228
$1,007,910,228
$565,046,960
$565,046,960
$467,580,061
$1,032,627,020
31-Dec-73
1-Jan-74
269%
$1,028,068,433
$1,028,068,433
$576,347,899
$576,347,899
$476,931,662 '
$476,931,662
MumCap, Inc
'According to the Parker CountyAppraisal 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-1.16.
°See Exhibit C-1.17.
'See Exhibit C-1.18.
6See Exhibit C-1.19.
'See Exhibit C-1.20.
EXHIBIT C-2.5
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2045-2049
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit C-2.5: Proiected Assessed Value - All Land Uses - Development Years 2045-2049
Development
2.0%
Total Projected
Year
Assessed
Intlation
2045 Development
2046 Development
2047 Development
2048 Development
2049 Development
Assessed Value
Ending
As Ot'
Factor'
Projected Assessed Value'
Projected Assessed Value"
Projected Assessed Values
Projected Assessed Value6
Projected Assessed Value'
At Buildout
31-Dec-23
1-Jan-24
100%
$0
$0
$0
$0
$0
$0
31-Dec-24
1-Jan-25
102%
$0
$0
$0
$0
$0
$0
31-Dec-25
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%
$0
$0
$0
$0
$0
$0
31-Dec-31
1-Jan-32
117%
$0
$0
$0
$0
$0
$0
31-Dec-32
I-Jan-33
120%
$0
$0
$0
$0
$0
$0
31-Dec-33
1-Jan-34
122%
$0
$0
$0
$0
$0
$0
31-Dec-34
1-Jan-35
124%
$0
$0
$0
$0
$0
$0
31-Dec-35
1-Jan-36
127%
$0
$0
$0
$0
$0
$0
31-Dec-36
I-San-37
129%
$0
$0
$0
$0
$0
$0
31-Dec-37
1-Jan-38
132%
$0
$0
$0
$0
$0
$0
31-Dec-38
I-Jan-39
135%
$0
$0
$0
$0
$0
$0
31-Dec-39
1-Jan-40
137%
$0
$0
$0
$0
$0
$0
31-Dec-40
1-San-41
140%
$0
$0
$0
$0
$0
$0
31-Dec-41
1-Jan-42
143%
$0
$0
$0
$0
$0
$0
31-Dec-42
1-San-43
146%
$0
$0
$0
$0
$0
$0
31-Dec-43
1-Jan-44
149%
$0
$0
$0
$0
$0
$0
31-Dec-44
1-Jan-45
152%
$0
$0
$0
$0
$0
$0
31-Dec-45
1-Jan-46
155%
$273,937,410
$0
$0
$0
$0
$273,937,410
31-Dec-46
1-Jan-47
158%
$279,416,158
$279,416,158
$0
$0
$0
$558,832,316
31-Dec-47
1-Jan-48
161%
$285,004,491
$285,004,481
$207,934,602
$0
$0
$777,943,565
31-Dec-48
1-Jan-49
164%
$290,704,571
$290,704,571
$212,093,294
$206,150,939
$0
$999,653,376
31-Dec-49
1-Jan-50
167%
$296,518,662
$296,518,662
$216,335,160
$210,273,958
$194,936,491
$1,214,582,935
31-Dec-50
1-Jan-51
171%
$302,449,036
$302,449,036
$220,661,863
$214,479,437
$198,835,221
$1,238,874,593
31-Dec-51
1-Jan-52
174%
$308,498,016
$308,498,016
$225,075,101
$218,769,026
$202,811,926
$1,263,652,085
31-Dec-52
1-Jan-53
178%
$314,667,977
$314,667,977
$229,576,603
$223,144,407
$206,868,164
$1,288,925,127
31-Dec-53
1-Jan-54
181%
$320,961,336
$320,961,336
$234,168,135
$227,607,295
$211,005,528
$1,314,703,629
31-Dec-54
1-Jan-55
185%
$327,380,563
$327,380,563
$238,851,497
$232,159,441
$215,225,638
$1,340,997,702
31-Dec-55
1-Jan-56
188%
$333,928,174
$333,928,174
$243,628,527
$236,802,630
$219,530,151
$1,367,817,656
31-Dec-56
1-Jan-57
192%
$340,606,738
$340,606,738
$248,501,098
$241,538,682
$223,920,754
$1,395,174,009
31-Dec-57
1-Jan-58
196%
$347,418,873
$347,418,873
$253,471,120
$246,369,456
$228,399,169
$1,423,077,489
31-Dec-58
1-Jan-59
200%
$354,367,250
$354,367,250
$258,540,542
$251,296,845
$232,967,152
$1,451,539,039
31-Dec-59
1-Jan-60
204%
$361,454,595
$361,454,595
$263,711,353
$256,322,782
$237,626,495
$1,480,569,820
31-Dec-60
1-Jan-61
208%
$368,683,687
$368,683,687
$268,985,580
$261,449,237
$242,379,025
$1,510,181,216
31-Dec-61
1-Jan-62
212%
$376,057,361
$376,057,361
$274,365,292
$266,678,222
$247,226,606
$1,540,384,841
31-Dec-62
1-Jan-63
216%
$383,578,508
$383,578,508
$279,852,597
$272,011,787
$252,171,138
$1,571,192,538
31-Dec-63
1-Jan-64
221%
$391,250,078
$391,250,078
$285,449,649
$277,452,022
$257,214,561
$1,602,616,388
31-Dec-64
1-Jan-65
225%
$399,075,080
$399,075,080
$291,158,642
$283,001,063
$262,358,852
$1,634,668,716
31-Dec-65
1-Jan-66
230%
$407,056,581
$407,056,581
$296,981,815
$288,661,084
$267,606,029
$1,667,362,090
31-Dec-66
1-Jan-67
234%
$415,197,713
$415,197,713
$302,921,452
$294,434,306
$272,958,149
$1,700,709,332
31-Dec-67
1-Jan-68
239%
$423,501,667
$423,501,667
$308,979,881
$300,322,992
$278,417,312
$1,734,723,519
31-Dec-68
1-Jan-69
244%
$431,971,700
$431,971,700
$315,159,478
$306,329,452
$283,985,659
$1,769,417,989
31-Dec-69
1-Jan-70
249%
$440,611,134
$440,611,134
$321,462,668
$312,456,041
$289,665,372
$1,804,806,349
31-Dec-70
1-Jan-71
254%
$449,423,357
$449,423,357
$327,891,921
$318,705,161
$295,458,679
$1,840,902,476
31-Dec-71
1-Jan-72
259%
$458,411,824
$458,411,824
$334,449,760
$325,079,265
$301,367,853
$1,877,720,525
31-Dec-72
1-Jan-73
264%
$467,580,061
$467,580,061
$341,138,755
$331,580,850
$307,395,210
$1,915,274,936
31-Dec-73
1-Jan-74
269%
$476,931,662
$476,931,662
$347,961,530
$338,212,467
$313,543,114
$1,953,580,435
31-Dec-74
1-Jan-75
275 %
$486,470,295
$486,470,295
$354,920,760
$344,976,716
$319,813,976
$1,992,652,043
31-Dec-75
1-Jan-76
280%
$496,199,701
$496,N9,-701
$362,019,176
$351,876,251
$326,210,256
$1,536,305,383
31-Dec-76
1-Jan-77
286%
$506,123,695
$506,123,695
$369,259,559
$358,913,776
$332,734,461
$1,060,907,796
31-Dec-77
I-Jan-78
291%
$516,246,169
$516,246,169
$376,644,750
$366,092,051
$339,389,150
$705,481,201
31-Dec-78
1-Jan-79
297%
$526,571,092
$526,571,092
$384,177,645
$373,413,892
$346,176,933
MuniCap, Inc
'Amordmg to the Parker CountyAppnosal Drstnct and Tarrant County Appraisal Ihstnct property rs assessed as of January 1 annually. Danng contraction, the assessed value represents the portion ofthe building completed as of January t. Assumes no assessed value dung constrachon.
'Assumes an annual inflation factor of 2.0%.
'See Exhtbtt C-1.21.
4See Echibit C-1.22.
'See Exhibit C-1.23.
69ee E, hibit C-1.24.
7See Exhibit C-1.25.
EXHIBIT C-2.6
PROJECTED TAXABLE VALUE - DEVELOPMENT YEARS 2050-2051
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale 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
Ending
As Of
Factor
Projected Assessed Value
Projected Assessed Value
At Buildout
31-Dec-23
1-Jan-24
100%
$0
$0
$0
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-Dec-47
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-Dec-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%
$215,560,241
$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-Dec-79
1-Jan-80
303%
$353,649,423
$296,529,361
$650,178,784
31-Dec-80
1-Jan-81
309%
$360,722,412
$302,459,948 J1
$302,459,948
MuniCap, Inc.
According to the Parker County Appraisal District and Tarrant County Appraisal District property is assessed as of January 1 annually. During construction,
the assessed value represents the portion of the building completed as of January 1. Assumes no assessed value during construction.
2Assumes an annual inflation factor of 2.0%.
3See Exhibit C-1.26.
4See Exhibit C-1.27.
EXHIBIT C-2.7
PROJECTED TAXABLE VALUE - ALL DEVELOPMENT YEARS
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veaue Ranch)
Exhibit C-2.7: Proiected Assessed Value - All Land Uses - All Development Years
Development
2.0%
Total
Year
Assessed
Inflation
2024-2029 Development
2030-2034 Development
2035-2039 Development
2040-2044 Development
2045-2049 Development
2050-2051 Development
Projected
Ending
As Ot'
Facto?$
Projected Assessed Value?
Projected Assessed Value
Projected Assessed Value?
Projected Assessed Value
Projected Assessed Value
Projected Assessed Value
Assessed Value
31-Dec-23
1-Jan-24
100%
$0
$0
$0
$0
$0
$0
$0
31-Dec-24
1-Jan-25
102%
$0
$0
$0
$0
$0
$0
$0
31-Dec-25
1-Jan-26
104%
$164,386,108
$0
$0
$0
$0
$0
$164,386,108
31-Dec-26
1-Jan-27
106%
$377,690,010
$0
$0
$0
$0
$0
$377,690,010
31-Dec-27
1-Jan-28
108%
$437,109,630
$0
$0
$0
$0
$0
$437,109,630
31-Dec-28
1-Jan-29
110%
$880,890,266
$0
$0
$0
$0
$0
$880,890,266
31-Dec-29
1-Jan-30
113%
$1,352,568,959
$0
$0
$0
$0
$0
$1,352,568,959
31-Dec-30
I-Jan-31
115%
$1,379,620,338
$463,142,106
$0
$0
$0
$0
$1,842,762,444
31-Dec-31
1-Jan-32
117%
$1,407,212,745
$944,809,895
$0
$0
$0
$0
$2,352,022,640
31-Dec-32
I-Jan-33
120%
$1,435,357,000
$1,445,559,140
$0
$0
$0
$0
$2,880,916,140
31-Dec-33
1-Jan-34
122%
$1,464,064,140
$1,965,960,430
$0
$0
$0
$0
$3,430,024,570
31-Dec-34
I-Jan-35
124%
$1,493,345,422
$2,506,599,548
$0
$0
$0
$0
$3,999,944,971
31-Dec-35
1-Jan-36
127%
$1,523,212,331
$2,556,731,539
$511,346,308
$0
$0
$0
$4,591,290,178
31-Dec-36
I-Jan-37
129%
$1,553,676,578
$2,607,866,170
$1,043,146,468
$0
$0
$0
$5,204,689,216
31-Dec-37
1-Jan-38
132%
$1,584,750,109
$2,660,023,494
$1,596,014,096
$0
$0
$0
$5,840,787,699
31-Dec-38
I-Jan-39
135%
$1,616,445,111
$2,713,223,963
$2,170,579,171
$0
$0
$0
$6,500,248,246
31-Dec-39
1-Jan-00
137%
$1,648,774,014
$2,767,488,443
$2,767,488,443
$0
$0
$0
$7,183,750,899
31-Dec-40
I-Jan41
140%
$1,681,749,494
$2,822,838,212
$2,822,838,212
$534,830,734
$0
$0
$7,862,256,651
31-Dec-41
1-Jan-42
143%
$1,715,384,484
$2,879,294,976
$2,879,294,976
$1,091,054,698
$0
$0
$8,565,029,133
31-Dec-42
I-Jan43
146%
$1,749,692,173
$2,936,880,875
$2,936,880,875
$1,424,821,769
$0
$0
$9,048,275,693
31-Dec-43
1-Jan- 4
149%
$1,784,686,017
$2,995,618,493
$2,995,618,493
$1,771,503,101
$0
$0
$9,547,426,104
31-Dec-44
1-Jan-45
152%
$1,820,379,737
$3,055,530,863
$3,055,530,863
$2,075,499,252
$0
$0
$10,006,940,714
31-DecA5
1-Jan46
155%
$1,856,787,332
$3,116,641,480
$3,116,641,480
$2,117,009,237
$273,937,410
$0
$10,481,016,939
31-Dec-46
1-Jan-47
158%
$1,893,923,079
$3,178,974,310
$3,178,974,310
$2,159,349,421
$558,832,316
$0
$10,970,053,436
31-Dec-47
1-Jan-48
161%
$1,931,801,540
$3,242,553,796
$3,242,553,796
$2,202,536,410
$777,943,565
$0
$11,397,389,106
31-Dec-48
I-Jan-49
164%
$1,970,437,571
$3,307,404,872
$3,307,404,872
$2,246,587,138
$999,653,376
$297,118
$11,831,784,946
31-Dec-49
1-Jan-50
167%
$2,009,846,322
$3,373,552,969
$3,373,552,969
$2,291,518,881
$1,214,582,935
$303,060
$12,263,357,136
31-Dec-50
I-Jan-51
171%
$2,050,043,249
$3,441,024,029
$3,441,024,029
$2,337,349,258
$1,238,874,593
$199,144,343
$12,707,459,500
31-Dec-51
1-Jan-52
174%
$2,091,044,114
$3,509,844,509
$3,509,844,509
$2,384,096,244
$1,263,652,085
$373,446,149
$13,131,927,609
31-Dec-52
I-Jan-53
178%
$2,132,864,996
$3,580,041,399
$3,580,041,399
$2,431,778,168
$1,288,925,127
$380,915,072
$13,394,566,161
31-Dec-53
1-Jan-54
181%
$2,175,522,296
$3,651,642,227
$3,651,642,227
$2,480,413,732
$1,314,703,629
$388,533,373
$13,662,457,485
31-Dec-54
I-Jan-55
185%
$2,219,032,742
$3,724,675,072
$3,724,675,072
$2,530,022,006
$1,340,997,702
$396,304,040
$13,935,706,634
31-Dec-55
1-Jan-56
188%
$1,965,650,716
$3,799,168,573
$3,799,168,573
$2,580,622,447
$1,367,817,656
$404,230,121
$13,916,658,087
31-Dec-56
I-Jan-57
192%
$1,624,548,490
$3,875,151,945
$3,875,151,945
$2,632,234,895
$1,395,174,009
$412,314,724
$13,814,576,007
31-Dec-57
1-Jan-58
196%
$1,563,091,707
$3,952,654,984
$3,952,654,984
$2,684,879,593
$1,423,077,489
$420,561,018
$13,996,919,775
31-Dec-58
I-Jan-59
200%
$806,341,617
$4,031,708,083
$4,031,708,083
$2,738,577,185
$1,451,539,039
$428,972,239
$13,488,846,246
31-Dec-59
1-Jan-60
204%
$0
$4,112,342,245
$4,112,342,245
$2,793,348,729
$1,480,569,820
$437,551,683
$12,936,154,722
31-Dec-60
I-Jan-61
208%
$0
$3,355,671,272
$4,194,589,090
$2,849,215,703
$1,510,181,216
$446,302,717
$12,355,959,999
31-Dec-61
1-Jan-62
212%
$0
$2,567,088,523
$4,278,480,872
$2,906,200,018
$1,540,384,841
$455,228,771
$11,747,383,024
31-Dec-62
I-Jan-63
216%
$0
$1,745,620,196
$4,364,050,489
$2,964,324,018
$1,571,192,538
$464,333,347
$11,109,520,587
31-Dec-63
1-Jan-64
221%
$0
$890,266,300
$4,451,331,499
$3,023,610,498
$1,602,616,388
$473,620,014
$10,441,444,699
31-Dec-64
I-Jan-65
225%
$0
$0
$4,540,358,129
$3,084,082,708
$1,634,668,716
$483,092,414
$9,742,201,967
31-Dec-65
1-Jan-66
230%
$0
$0
$3,704,932,233
$3,145,764,362
$1,667,362,090
$492,754,262
$9,010,812,948
31-Dec-66
I-Jan-67
234%
$0
$0
$2,834,273,158
$3,208,679,650
$1,700,709,332
$502,609,347
$8,246,271,488
31-Dec-67
1-Jan-68
239%
$0
$0
$1,927,305,748
$3,272,853,243
$1,734,723,519
$512,661,534
$7,447,544,044
31-Dec-68
14an-69
244%
$0
$0
$982,925,931
$3,338,310,307
$1,769,417,989
$522,914,765
$6,613,568,993
31-Dec-69
1-Jan-70
249%
$0
$0
$0
$3,405,076,514
$1,804,806,349
$533,373,060
$5,743,255,923
31-Dec-70
1-Jan-71
254%
$0
$0
$0
$2,504,406,198
$1,840,902,476
$544,040,522
$4,889,349,196
31-Dec-71
1-Jan-72
259%
$0
$0
$0
$1,566,347,039
$1,877,720,525
$554,921,332
$3,998,988,897
31-Dec-72
1-Jan-73
264%
$0
$0
$0
$1,032,627,020
$1,915,274,936
$566,019,759
$3,513,921,715
31-Dec-73
1-Jan-74
269%
$0
$0
$0
$476,931,662
$1,953,580,435
$577,340,154
$3,007,852,250
31-Dec-74
1-Jan-75
275%
$0
$0
$0
$0
$1,992,652,043
$588,886,957
$2,581,539,000
31-Dec-75
1-Jan-76
280%
$0
$0
$0
$0
$1,536,305,383
$600,664,696
$2,136,970,079
31-Dec-76
1-Jan-77
286%
$0
$0
$0
$0
$1,060,907,796
$612,677,990
$1,673,585,786
31-Dec-77
1-Jan-78
291%
$0
$0
$0
$0
$705,481,201
$624,931,550
$1,330,412,751
31-Dec-78
1-Jan-79
297%
$0
$0
$0
$0
$346,176,933
$637,430,181
$983,607,114
31-Dec-79
1-Jan-80
303%
$0
$0
$0
$0
$0
$650,178,784
$650,178,784
31-Dec-80
1-Jan-81
309%
$0
$0
$0
$0
$0
$302,459,948
$302,459,948
Mumcap, Inc
https'//mmurzzmp.sharepomt.com/5itev/ALLSTAFFITEXASItswIFort WortklVeale RawhITIRZIPrjecton,/F4no11[Vea7e Ra.h TIRZ P erection No. 7.2.x! ]Exhibit C-2.7
4-Oct-23
According to the Parker CountyAppmisal Distract and Tartan[ County Appmisal District property is assessed as of January 1 annually. During constmctmn, the assessed value represents the portion ofthe buddmg completed u of January 1. Assumes no assessed value dmmg cons tma.
'Assumes as annual mflatioa factor of 2 0%
'See Exhibit G2.1.
4See Exhibit G22
'See Exhibn C-2.3,
6See Exhibit G24
7See, Exhibit C-2.5.
sSee Exhibit C-2.6.
EXHIBIT D-1.1
PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL REAL
PROPERTY TAXES AVAILABLE FOR TIRZ OBLIGATIONS
Reinvestment Zone Number Sixteen
Fort Worth, Texas (Veale Ranch)
Exhibit D-1.1: Proiected Incremental Assessed Value & Incremental Real Pronertv Taxes Available for TIRZ Oblieations
City of
Development
Fort Worth Real
Total
Percent
Total Available
Year
Assessed
Inflation
Total Projected
Estimated
Property Tax Rate
Incremental
Available for
Incremental
Ending
As of
Factor'
Assessed Value'
Base Value
Incremental Value
(Per $100 A.V.)°
Tax Revenues
TIRZ Obligations
Tax Revenues
31-Dec-23
1-Jan-24
100%
$0
($5,256,331)
$0
$0.672500
$0
65.00%
$0
31-Dec-24
1-Jan-25
102%
$0
($5,256,331)
$0
$0.672500
$0
65.00%
$0
31-Dec-25
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%
$377,690,010
($5,256,331)
$372,433,679
$0.672500
$2,504,616
65.00%
$1,628,001
31-Dec-27
1-Jan-28
108%
$437,109,630
($5,256,331)
$431,853,299
$0.672500
$2,904,213
65.00%
$1,887,739
31-Dec-28
1-Jan-29
110%
$880,890,266
($5,256,331)
$875,633,935
$0.672500
$5,888,638
65.00%
$3,827,615
31-Dec-29
1-Jan-30
113%
$1,352,568,959
($5,256,331)
$1,347,312,628
$0.672500
$9,060,677
65.00%
$5,889,440
31-Dec-30
1-Jan-31
115%
$1,842,762,444
($5,256,331)
$1,837,506,113
$0.672500
$12,357,229
65.00%
$8,032,199
31-Dec-31
1-Jan-32
117%
$2,352,022,640
($5,256,331)
$2,346,766,309
$0.672500
$15,782,003
65.00%
$10,258,302
31-Dec-32
1-Jan-33
120%
$2,880,916,140
($5,256,331)
$2,875,659,809
$0.672500
$19,338,812
65.00%
$12,570,228
31-Dec-33
1-Jan-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-Dec-35
1-Jan-36
127%
$4,591,290,178
($5,256,331)
$4,586,033,847
$0.672500
$30,841,078
65.00%
$20,046,700
31-Dec-36
1-Jan-37
129%
$5,204,689,216
($5,256,331)
$5,199,432,885
$0.672500
$34,966,186
65.00%
$22,728,021
31-Dec-37
1-Jan-38
132%
$5,840,787,699
($5,256,331)
$5,835,531,368
$0.672500
$39,243,948
65.00%
$25,508,566
31-Dec-38
1-Jan-39
135%
$6,500,248,246
($5,256,331)
$6,494,991,915
$0.672500
$43,678,821
65.00%
$28,391,233
31-Dec-39
1-Jan-40
137%
$7,183,750,899
($5,256,331)
$7,178,494,568
$0.672500
$48,275,376
65.00%
$31,378,994
31-Dec-40
1-Jan-41
140%
$7,862,256,651
($5,256,331)
$7,857,000,320
$0.672500
$52,838,327
65.00%
$34,344,913
31-Dec-41
1-Jan-42
143%
$8,565,029,133
($5,256,331)
$8,559,772,802
$0.672500
$57,564,472
65.00%
$37,416,907
31-Dec-42
1-Jan-43
146%
$9,048,275,693
($5,256,331)
$9,043,019,362
$0.672500
$60,814,305
65.00%
$39,529,298
31-Dec-43
1-Jan-44
149%
$9,547,426,104
($5,256,331)
$9,542,169,773
$0.672500
$64,171,092
65.00%
$41,711,210
31-Dec-44
I-Jan-45
152%
$10,006,940,714
($5,256,331)
$10,001,684,383
$0.672500
$67,261,327
65.00%
$43,719,863
31-Dec-45
1-Jan-46
155%
$10,481,016,939
($5,256,331)
$10,475,760,608
$0.672500
$70,449,490
65.00%
$45,792,169
31-Dec-46
I-Jan-47
158%
$10,970,053,436
($5,256,331)
$10,964,797,105
$0.672500
$73,738,261
65.00%
$47,929,869
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%
$49,797,860
31-Dec-48
I-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
1-Jan-50
167%
$12,263,357,136
($5,256,331)
$12,258,100,805
$0.672500
$82,435,728
65.00%
$53,583,223
31-Dec-50
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-Dec-51
1-Jan-52
174%
$13,131,927,609
($5,256,331)
$13,126,671,278
$0.672500
$88,276,864
65.00%
$57,379,962
31-Dec-52
1-Jan-53
178%
$13,394,566,161
($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-Dec-55
1-Jan-56
188%
$13,916,658,087
($5,149,701)
$13,911,508,386
$0.672500
$93,554,894
65.00%
$60,810,681
31-Dec-56
1-Jan-57
192%
$13,814,576,007
($4,970,875)
$13,809,605,133
$0.672500
$92,869,595
65.00%
$60,365,236
31-Dec-57
1-Jan-58
196%
$13,996,919,775
($4,706,316)
$13,992,213,459
$0.672500
$94,097,636
65.00%
$61,163,463
31-Dec-58
1-Jan-59
200%
$13,488,846,246
($4,435,733)
$13,484,410,513
$0.672500
$90,682,661
65.00%
$58,943,729
31-Dec-59
1-Jan-60
204%
$12,936,154,722
($4,160,331)
$12,931,994,391
$0.672500
$86,967,662
65.00%
$56,528,980
31-Dec-60
1-Jan-61
208%
$12,355,959,999
($3,884,929)
$12,352,075,070
$0.672500
$83,067,705
65.00%
$53,994,008
31-Dec-61
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-Dec-62
1-Jan-63
216%
$11,109,520,587
($3,334,124)
$11,106,186,463
$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%
$45,628,795
31-Dec-64
1-Jan-65
225%
$9,742,201,967
($2,783,320)
$9,739,418,647
$0.672500
$65,497,590
65.00%
$42,573,434
31-Dec-65
1-Jan-66
230%
$9,010,812,948
($2,507,918)
$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-Dec-67
1-Jan-68
239%
$7,447,544,044
($1,957,113)
$7,445,586,930
$0.672500
$50,071,572
65.00%
$32,546,522
31-Dec-68
1-Jan-69
244%
$6,613,568,993
($1,681,711)
$6,611,887,282
$0.672500
$44,464,942
65.00%
$28,902,212
31-Dec-69
1-Jan-70
249%
$5,743,255,923
($1,406,309)
$5,741,849,614
$0.672500
$38,613,939
65.00%
$25,099,060
31-Dec-70
1-Jan-71
254%
$4,889,349,196
($1,169,703)
$4,888,179,493
$0.672500
$32,873,007
65.00%
$21,367,455
31-Dec-71
1-Jan-72
259%
$3,998,988,897
($933,097)
$3,998,055,800
$0.672500
$26,886,925
65.00%
$17,476,501
31-Dec-72
1-Jan-73
264%
$3,513,921,715
($806,510)
$3,513,115,205
$0.672500
$23,625,700
65.00%
$15,356,705
31-Dec-73
1-Jan-74
269%
$3,007,852,250
($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
($476,893)
$2,136,493,186
$0.672500
$14,367,917
65.00%
$9,339,146
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
($285,911)
$1,330,126,840
$0.672500
$8,945,103
65.00%
$5,814,317
31-Dec-78
1-Jan-79
297%
$983,607,114
($202,469)
$983,404,645
$0.672500
$6,613,396
65.00%
$4,298,708
31-Dec-79
1-Jan-80
303%
$650,178,784
($123,847)
$650,054,938
$0.672500
$4,371,619
65.00%
$2,841,553
31-Dec-80
1-Jan-81
309%
$302,459,948
($45,224)
$302,414,724
$0.672500
$2,033,739
65.00%
$1,321,930
Total
$2,698,819,614
$1,754,232,749
MuniCap, Inc. https:Ilmumcap.sharepoint.com/sitesIALLSTAFFITEXAS/texas/Fort WorthlVeale Ranch/TIRZ/Projections/FinaU[Veale Ranch TIRZ Projection No. 7.2.x1sx]EXRIBIT D-1J
4-Oct-23
'Assumes an annual inflation factor of 2.0%.
2See 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 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 are 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: Proiected Incremental Assessed Value & Incremental Real Pronertv Taxes Available for the Citv
City of
Development
Fort Worth Real
Total
Percent
Total Available
Year
Assessed
Inflation
Total Projected
Estimated
Property Tax Rate
Incremental
Available for
Incremental
Ending
As of
Factor'
Assessed Value'
Base Value
Incremental Value
(Per $100 A.V.)°
Tax Revenues
to the City'
Tax Revenues
31-Dec-23
1-Jan-24
100%
$0
($5,256,331)
$0
$0.672500
$0
35.00%
$0
31-Dec-24
1-Jan-25
102%
$0
($5,256,331)
$0
$0.672500
$0
35.00%
$0
31-Dec-25
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)
$431,853,299
$0.672500
$2,904,213
35.00%
$1,016,475
31-Dec-28
1-Jan-29
110%
$880,890,266
($5,256,331)
$875,633,935
$0.672500
$5,888,638
35.00%
$2,061,023
31-Dec-29
1-Jan-30
113%
$1,352,568,959
($5,256,331)
$1,347,312,628
$0.672500
$9,060,677
35.00%
$3,171,237
31-Dec-30
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-Dec-31
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%
$2,880,916,140
($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%
$8,061,048
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-Dec-36
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
1-Jan-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
1-Jan-39
135%
$6,500,248,246
($5,256,331)
$6,494,991,915
$0.672500
$43,678,821
35.00%
$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%
$8,565,029,133
($5,256,331)
$8,559,772,802
$0.672500
$57,564,472
35.00%
$20,147,565
31-Dec-42
1-Jan-43
146%
$9,048,275,693
($5,256,331)
$9,043,019,362
$0.672500
$60,814,305
35.00%
$21,285,007
31-Dec-43
1-Jan-44
149%
$9,547,426,104
($5,256,331)
$9,542,169,773
$0.672500
$64,171,092
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
($5,256,331)
$10,475,760,608
$0.672500
$70,449,490
35.00%
$24,657,322
31-Dec-46
1-Jan-47
158%
$10,970,053,436
($5,256,331)
$10,964,797,105
$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-Dec-49
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
($5,256,331)
$12,702,203,169
$0.672500
$85,422,316
35.00%
$29,897,811
31-Dec-51
1-Jan-52
174%
$13,131,927,609
($5,256,331)
$13,126,671,278
$0.672500
$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
($5,256,331)
$13,657,201,154
$0.672500
$91,844,678
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-Dec-55
1-Jan-56
188%
$13,916,658,087
($5,149,701)
$13,911,508,386
$0.672500
$93,554,894
35.00%
$32,744,213
31-Dec-56
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
($4,706,316)
$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-Dec-59
1-Jan-60
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-Jan-61
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-Dec-63
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
31-Dec-64
1-Jan-65
225%
$9,742,201,967
($2,783,320)
$9,739,418,647
$0.672500
$65,497,590
35.00%
$22,924,157
31-Dec-65
1-Jan-66
230%
$9,010,812,948
($2,507,918)
$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
244%
$6,613,568,993
($1,681,711)
$6,611,887,282
$0.672500
$44,464,942
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)
$4,898,179,493
$0.672500
$32,873,007
35.00%
$11,505,552
31-Dec-71
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-Jan-73
264%
$3,513,921,715
($806,510)
$3,513,115,205
$0.672500
$23,625,700
35.00%
$8,268,995
31-Dec-73
1-Jan-74
269%
$3,007,852,250
($679,923)
$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)
$2,590,960,592
$0.672500
$17,356,960
35.00%
$6,074,936
31-Dec-75
1-Jan-76
280%
$2,136,970,079
($476,893)
$2,136,493,186
$0.672500
$14,367,917
35.00%
$5,028,771
31-Dec-76
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
$8,945,103
35.00%
$3,130,786
31-Dec-78
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%
$650,178,784
($123,847)
$650,054,938
$0.672500
$4,371,619
35.00%
$1,530,067
31-Dec-80
1-Jan-81
309%
$302,459,948
($45,224)
$302,414,724
$0.672500
$2,033,739
35.00%
$711,809
Total
$2,698,819,614
$944,586,865
MuniCap, Inc. https://municap.sharepomt.comlsitesIALLSTAFFITEXASItexasIFort Worth/Veale RanchITIRZ/Projections/Final/[Meade Ranch TIRZ Projection No. 7.2.x1sx]EXIIIBITD-1.2.A
4-Oct-23
'Assumes an annual inflation factor of 2.0%.
2See 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 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 Citv after Release from the TIRZ
City of
Development
Fort Worth Real
Total
Percent
Total Available
Year
Assessed
Inflation
Total Projected
Estimated
Property Tax Rate
Incremental
Available for
Incremental
Ending
As of
Factor
Assessed Value'
Base Value
Incremental Value
(Per $100 AN.)°
Tax Revenues
City,
Tax Revenues'
31-Dec-23
1-Jan-24
100%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
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
$0.672500
$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
($5,256,331)
$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
100.00%
$0
31-Dec-38
1-Jan-39
135%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-39
1-Jan40
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-Jan42
143%
$0
($5,256,331)
$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-Jan44
149%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-44
1-Jan-45
152%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-45
1-Jan46
155%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-46
1-Jan-47
158%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-47
1-Jan48
161%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-48
1-Jan-49
164%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
31-Dec-49
1-Jan-50
167%
$0
($5,256,331)
$0
$0.672500
$0
100.00%
$0
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)
$0
$0.672500
$0
100.00%
$0
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
($5,149,701)
$292,612,980
$0.672500
$1,967,822
100.00%
$1,967,822
31-Dec-56
1-Jan-57
192%
$684,133,175
($4,970,875)
$679,162,300
$0.672500
$4,567,366
100.00%
$4,567,366
31-Dec-57
1-Jan-58
196%
$791,763,591
($4,706,316)
$787,057,275
$0.672500
$5,292,960
100.00%
$5,292,960
31-Dec-58
1-Jan-59
200%
$1,595,610,787
($4,435,733)
$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%
$4,260,363,455
($3,609,527)
$4,256,753,929
$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%
$41,761,954
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%
$8,316,486,650
($2,507,918)
$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
($1,957,113)
$10,577,821,346
$0.672500
$71,135,849
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%
$15,514,364,738
($933,097)
$15,513,431,641
$0.672500
$104,327,828
100.00%
$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%
$17,293,840,872
($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
($285,911)
$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%
$149,380,416
31-Dec-80
1-Jan-81
309%
$23,017,244,040
($45,224)
$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. https:Ilmunicap.sharepoint.com/sitesIALLSTAFFITEXASRexasIFort Worth/Veale Ranch/TIRZ/Projections/Final/[Veale Ranch TIRZ Projection No. 7.2.x1sx]Exhibit Q1.2.B
4-Oct-23
Assumes an annual inflation factor of 2.0 %.
2See Exhibit C-2.7.
3See Exhibit H. The TIRZ property in the ETJ 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 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 (Neale Ranch)
Exhibit D-1.4: Proiected Incremental Real Property Taxes Available for the Citv - Summary
Development
Total Projected
Total Projected
Total Available
Year
Assessed
Inflation
Assessed Values Available
Assessed Value released
Incremental Tax
Ending
As of
Factor
For TIRZ Obligations
from TIRZ obligations'
Revenues to the City
31-Dec-23
1-Jan-24
100%
$0
$0
$0
31-Dec-24
1-Jan-25
102%
$0
$0
$0
31-Dec-25
1-Jan-26
104%
$374,552
$0
$374,552
31-Dec-26
1-Jan-27
106%
$876,616
$0
$876,616
31-Dec-27
1-Jan-28
108%
$1,016,475
$0
$1,016,475
31-Dec-28
1-Jan-29
110%
$2,061,023
$0
$2,061,023
31-Dec-29
1-Jan-30
113%
$3,171,237
$0
$3,171,237
31-Dec-30
1-Jan-31
115%
$4,325,030
$0
$4,325,030
31-Dec-31
1-Jan-32
117%
$5,523,701
$0
$5,523,701
31-Dec-32
1-Jan-33
120%
$6,768,584
$0
$6,768,584
31-Dec-33
1-Jan-34
122%
$8,061,048
$0
$8,061,048
31-Dec-34
I-Jan-35
124%
$9,402,498
$0
$9,402,498
31-Dec-35
1-Jan-36
127%
$10,794,377
$0
$10,794,377
31-Dec-36
I-Jan-37
129%
$12,238,165
$0
$12,238,165
31-Dec-37
1-Jan-38
132%
$13,735,382
$0
$13,735,382
31-Dec-38
I-Jan-39
135%
$15,287,587
$0
$15,287,587
31-Dec-39
1-Jan-40
137%
$16,896,382
$0
$16,896,382
31-Dec-40
I-Jan-41
140%
$18,493,415
$0
$18,493,415
31-Dec-41
1-Jan-42
143%
$20,147,565
$0
$20,147,565
31-Dec-42
1-Jan-43
146%
$21,285,007
$0
$21,285,007
31-Dec-43
1-Jan-44
149%
$22,459,882
$0
$22,459,882
31-Dec-44
1-Jan-45
152%
$23,541,465
$0
$23,541,465
31-Dec-45
1-Jan-46
155%
$24,657,322
$0
$24,657,322
31-Dec-46
1-Jan-47
158%
$25,808,391
$0
$25,808,391
31-Dec-47
1-Jan-48
161%
$26,814,233
$0
$26,814,233
31-Dec-48
1-Jan-49
164%
$27,835,992
$0
$27,835,992
31-Dec-49
1-Jan-50
167%
$28,851,791
$0
$28,851,791
31-Dec-50
I-Jan-51
171%
$29,897,083
$0
$29,897,083
31-Dec-51
1-Jan-52
174%
$30,896,160
$0
$30,896,160
31-Dec-52
1-Jan-53
178%
$31,514,331
$0
$31,514,331
31-Dec-53
1-Jan-54
181%
$32,144,865
$0
$32,144,865
31-Dec-54
I-Jan-55
185%
$32,788,010
$0
$32,788,010
31-Dec-55
1-Jan-56
188%
$32,743,410
$1,967,822
$34,711,232
31-Dec-56
I-Jan-57
192%
$32,503,539
$4,567,366
$37,070,905
31-Dec-57
1-Jan-58
196%
$32,933,337
$5,292,960
$38,226,297
31-Dec-58
I-Jan-59
200%
$31,738,079
$10,700,652
$42,438,731
31-Dec-59
1-Jan-60
204%
$30,437,812
$16,448,214
$46,886,027
31-Dec-60
1-Jan-61
208%
$29,072,810
$22,421,313
$51,494,122
31-Dec-61
1-Jan-62
212%
$27,641,002
$28,626,670
$56,267,672
31-Dec-62
1-Jan-63
216%
$26,140,264
$35,071,189
$61,211,453
31-Dec-63
1-Jan-64
221%
$24,568,410
$41,761,954
$66,330,364
31-Dec-64
1-Jan-65
225%
$22,923,197
$48,706,238
$71,629,435
31-Dec-65
1-Jan-66
230%
$21,202,319
$55,911,507
$77,113,826
31-Dec-66
1-Jan-67
234%
$19,403,408
$63,385,422
$82,788,830
31-Dec-67
1-Jan-68
239%
$17,524,031
$71,135,849
$88,659,880
31-Dec-68
I-Jan-69
244%
$15,561,691
$79,170,858
$94,732,548
31-Dec-69
1-Jan-70
249%
$13,513,819
$87,498,734
$101,012,552
31-Dec-70
I-Jan-71
254%
$11,504,471
$95,765,479
$107,269,951
31-Dec-71
1-Jan-72
259%
$9,409,321
$104,327,828
$113,737,149
31-Dec-72
I-Jan-73
264%
$8,267,870
$110,215,302
$118,483,172
31-Dec-73
1-Jan-74
269%
$7,076,985
$116,296,507
$123,373,492
31-Dec-74
I-Jan-75
275%
$6,073,766
$121,894,724
$127,968,490
31-Dec-75
1-Jan-76
280%
$5,027,577
$127,670,322
$132,697,900
31-Dec-76
I-Jan-77
286%
$3,937,101
$133,628,157
$137,565,259
31-Dec-77
1-Jan-78
291%
$3,129,544
$138,834,309
$141,963,853
31-Dec-78
1-Jan-79
297%
$2,313,422
$144,122,803
$146,436,225
31-Dec-79
1-Jan-80
303%
$1,528,775
$149,380,416
$150,909,190
31-Dec-80
1-Jan-81
309%
$711,809
$154,790,662
$155,502,471
31-Dec-81
1-Jan-82
315%
$0
$159,926,161
$159,926,161
31-Dec-82
1-Jan-83
322%
$0
$163,160,740
$163,160,740
31-Dec-83
1-Jan-84
328%
$0
$166,388,606
$166,388,606
31-Dec-84
1-Jan-85
335%
$0
$169,717,085
$169,717,085
31-Dec-85
1-Jan-86
341%
$0
$173,112,133
$173,112,133
31-Dec-86
I-Jan-87
348%
$0
$176,575,083
$176,575,083
31-Dec-87
1-Jan-88
355%
$0
$180,107,292
$180,107,292
31-Dec-88
I-Jan-89
362%
$0
$183,710,145
$183,710,145
31-Dec-89
1-Jan-90
369%
$0
$187,385,054
$187,385,054
31-Dec-90
1-Jan-91
377%
$0
$191,133,462
$191,133,462
31-Dec-91
1-Jan-92
384%
$0
$194,956,839
$194,956,839
31-Dec-92
I-Jan-93
392%
$0
$198,856,682
$198,856,682
31-Dec-93
1-Jan-94
400%
$0
$197,533,585
$197,533,585
31-Dec-94
I-Jan-95
408%
$0
$206,891,920
$206,891,920
31-Dec-95
1-Jan-96
416%
$0
$211,030,466
$211,030,466
31-Dec-96
1-Jan-97
424%
$0
$215,251,782
$215,251,782
31-Dec-97
1-Jan-98
433%
$0
$219,557,525
$219,557,525
31-Dec-98
1-Jan-99
442%
$0
$223,949,382
$223,949,382
31-Dec-99
1-Jan-00
450%
$0
$228,429,077
$228,429,077
31-Dec-00
1-Jan-01
459%
$0
$232,998,365
$232,998,365
31-Dec-01
1-Jan-02
469%
$0
$237,659,040
$237,659,040
31-Dec-02
1-Jan-03
478%
$0
$242,412,927
$242,412,927
31-Dec-03
1-Jan-04
488%
$0
$247,261,893
$247,261,893
31-Dec-04
I-Jan-05
497%
$0
$252,207,838
$252,207,838
31-Dec-05
1-Jan-06
507%
$0
$257,252,702
$257,252,702
Total $944,555,935 $7,087,059,042 $8,031,614,977
MuniCap, Inc LSTAFFITRXAS/texas/Fart WorthIV a!e Ranch1T1RZ✓Projectiow1F ,11[Y a!e Ranch 77RZ Projection Na 72 Is j&hibit D-12 C
4-Oct-23
'Assumes an annual inflation f for of 2%.
'See Exhibit D-1 2.
'Sae Exhibit D-1 3.
EXHIBIT E
MAP AND DESCRIPTION OF THE PROPOSED USES OF THE PROPERTY
(CURRENT CONCEPT PLAN)
I
I
I
I
i
I
I
I
I
I
54 AC. INDUSTRIAL ALEDO IONAO/
I
I
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IMIED INDUSTRIAL } -USE +/-526AC. �i!
+ -25 AC. O I gig MIXED -USE
r Z �Io +/-167AC.
ziz m ai3 INDUSTRIAL
FM 1187 oio +/-440AC.
_ u lu INDUSTRIAL
w Iz +/-13 AC. 1 SINGLE FAMILY MIXED -USE C0"
Ile MIXED -USE � i< i / +/-102 AC. +/-22 AC.
MIXED -USE / +/-95 AC. < I
+/-11 AC. 1~ 1 XED-USE SINGLE FAMILY
fff MIXED -USE +/-72 q +/- 40 AC.
+/-47 AC. i MIXED -USE 1
1 +/-106 AC. MIXED -USE ' SINGLE FAMILY
1 +/-66 AC. 1 +/-35 ACC
(SINGLE FAMILY — i - 1-1 �a
USE
+/-3737 AC. SINGLE FAMILY i SINGLE FAMILY MIXED +/-17 AC
SINGLE FAMILY I +/-84 AC +/-182 AC. +/-175 AC. ' INGLE FAMILY
ey '
1
LL \
SINGLE SINGLE FAMILY
I FAMILY r/ SINGLE FAMILY
+/-216 AC +/-237 AC. +/-63 AC
O�Q � / I SINGLE
FAMILY /-42 AC.I M E � 66 AC.
MIXED�USE 3 SINGLE FAMILY
+/-15!AC• +/-13 AC. I A
j SINGLE FAMILY A
SINGLE +/-209.5 AC SINGLE FAMILY 3
FAMILY 1 +/-569AC PMB PROJECT
+/-58 AC
/. - --- -
' BEAR CREEK DRIVE
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SINGLE FAMILY
+/-10.6 AC
CONCEPT PLAN
Vlanning& ®
I500 3000`
I DRWN BY: AMR
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I[I CHKD BY: TpM
DATE 3/8/2023
.se.... n1M CITY OF FORaT WORTH,tlTARRAN d�ONNw.R�,m
MIXED -USE I I NT 0173
NUMBER
/ +/-14.9AC
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.
4. 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 RID 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 RID 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. Landscaping.
(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
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
9. 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
Value''2
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 I20 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 120 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 1 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 (Veale Ranch)
Base Year Market Value vs Taxable Value
2023
Taxable
Property ID
Acreage
Land Use
Owner
Market Value
Value1,2
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
14.0000
Not Zoned
TRT Land Investors LLC
$322,000
$620
Total 5192.11 $53,131,152 $59256,331
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.
Land Use
Total
Total
Total
Parcels
Type
Acres
Market Value
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
840.42
$20,053,800
$807,150
Total
5192.11
$53,131,152
$59256,331
Exhibit C
RESOLUTION
TARRANT COUNTY PARTICIPATION IN
THE CITY OF FORT WORTH TAX INCREMENT FINANCING
REINVESTMENT ZONE #16 — VEALE RANCH TIF
WHEREAS, the general laws of the State of Texas authorize governmental taxing entities to
join other taxing jurisdictions in the establishment of a reinvestment zone under the Tax Increment
Financing Act, Chapter 311 of the Texas Tax Code (the "Act"), to provide incentive for the
development and redevelopment of properties that might not be undertaken without such incentive;
and
WHEREAS, on September 12, 2023, the City Council of the City of Fort Worth, Texas
adopted City Ordinance No. 2640-09-2023 designating certain real property located in the west
portion of the City's extraterritorial jurisdiction as Tax Increment Reinvestment Zone Number
Sixteen, City of Fort Worth, Texas; and
WHEREAS, in accordance with the requirements of the Act, the City Council of the City of
Fort Worth has given all applicable notices to the Tarrant County Commissioners Court as to the
City Council's establishment of the tax increment reinvestment zone and, through its appointed
representatives, has made a formal presentation to the Tarrant County Commissioners Court
regarding the reinvestment zone; and
WHEREAS, Tarrant County has one (1) representative to the City of Fort Worth Tax
Increment Financing Reinvestment Zone #16 Board of Directors as established by statute and said
representative has participated in the development of the Project Plan and Financing Plan for the
zone; and
WHEREAS, the City Council of the City of Fort Worth has adopted the Project Plan and
Financing Plan as submitted by the Reinvestment Zone Board of Directors; and
WHEREAS, the Tarrant County Commissioners Court recognizes that the participation of
Tarrant County in funding of the tax increment reinvestment zone will have the desired effect of
developing the area to the benefit of all taxing units which levy taxes in the proposed reinvestment
zone.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Tarrant County Commissioners Court hereby approves Tarrant County
participation in the City of Fort Worth Tax Increment Financing Reinvestment Zone 916 and the
payment into the tax increment fund of fifty percent (50%) of its collected incremental tax revenue
(as set forth in the Agreement) produced by applying the County's tax rate to the incremental
increase in the value of real property Iocated in the reinvestment zone, beginning with tax year 2023
through December 31, 2052, or until a maximum cumulative contribution of $154,684,773.00 has
been paid by the County, whichever occurs first, in accordance with the terms of the attached Tarrant
County Agreement; and
2. That the Agreement be and is hereby approved; that the County and its
Commissioners Court hereby agree to enter into the Agreements as a party thereto; and the County
Judge of the County or his designee be and is hereby authorized and directed to execute said
Agreement on behalf of the County and its Commissioners Court, substantially in the form attached
hereto and carry out the terms thereof at the appropriate time(s).
PASSED AND APPROVED, IN OPEN COURT, this LOday of .�(-2024.
COURTO RNO. `�'
Tim O'Hare, County Judge
Roy C. Brooks
Commissioner, Precinct 1
Vary Fickes
Commissioner, Precinct 3
ATTEST:
Count C�e
Y
Alisa Simmons
Commissioner, Precinct 2
Manny Ramire
Commissione , Precinct 4
CITY COUNCIL AGENDA
Create New From This M&C
DATE: 8/27/2024 REFERENCE NO.: **M&C 24-0736 LOG NAME
CODE: G TYPE: CONSENT PUBLIC
HEARING:
Official site of the City of Fort Worth, Texas
FORT WORTI I
17TIF16COUNTY
Nei
SUBJECT: (ETJ) Authorize Execution of an Agreement with Tarrant County for Their Participation in
Tax Increment Reinvestment Zone No. 16, Veale Ranch, City of Fort Worth, Texas, and
Adopt Ordinance Approving an Amended Project and Financing Plan that Reflects Tarrant
County's Participation in the Tax Increment Reinvestment Zone No. 16, Veale Ranch
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize execution of an agreement with Tarrant County for their participation in Tax
Increment Reinvestment Zone No. 16, Veale Ranch, City of Fort Worth, Texas; and
2. Adopt an ordinance approving an amended Project and Financing Plan that reflects Tarrant
County's participation in the Tax Increment Reinvestment Zone No. 16, Veale Ranch.
DISCUSSION:
On September 12, 2023, the City Council adopted Ordinance No. 26420-09-2023, establishing Tax
Increment Reinvestment Zone (TIRZ) Number 16, City of Fort Worth, Texas (Veale Ranch) and a
governing Board of Directors (Board). On November 14, 2023, the City Council adopted Ordinance
No. 26581-11-2023 approving the Project and Financing Plan for the TIRZ. On June 18, 2024,
Tarrant County and its Commissioners Court (County) authorized the County to enter into an
agreement to participate in the TIRZ and to pay into the TIRZ fund fifty percent (50\%) of the County's
collected incremental tax revenue from the incremental increase in the value of real property located
in the TIRZ, beginning with tax year 2024 through December 31, 2052, or until a maximum
cumulative contribution of $154,684,773.00 has been paid by the County, whichever occurs first.
To reflect the County's participation in the TIRZ, an amendment to the Project and Financing Plan is
proposed for adoption by the City Council.
Staff recommends that the City Council authorize entering into an agreement with the County for its
participation in the TIRZ and to adopt the attached ordinance adopting an amended Project and
Financing 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.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that approval of these recommendations will have no material effect
on City funds.
TO
Fund Department Account Project Program Activity Budget Reference # Amount
ID ID Year (Chartfield 2)
FROM
Fund Department Account Project Program Activity Budget Reference # Amount
ID ID Year (Chartfield 2)
Submitted for City Manager's Office by:
William Johnson (5806)
Originating Department Head:
Additional Information Contact:
ATTACHMENTS
Robert Sturns (2663)
Michael Hennig (6024)
Cherie Gordon (6053)
240625 Veale TIF 16 Executed Aareement.pdf (CFW Internal)
Ord.AmendPFP.JBS.docx (Public)
TIF 16 Veale Ranch TIRZ First Amended PFP v5.1.pdf (Public)
Veale Ranch Resolution.pdf (Public)
CITY COUNCIL AGENDA
Create New From This M&C
DATE: 8/27/2024 REFERENCE NO.: **M&C 24-0736 LOG NAME
CODE: G TYPE: CONSENT PUBLIC
HEARING:
Official site of the City of Fort Worth, Texas
FORT WORTI I
17TIF16COUNTY
Nei
SUBJECT: (ETJ) Authorize Execution of an Agreement with Tarrant County for Their Participation in
Tax Increment Reinvestment Zone No. 16, Veale Ranch, City of Fort Worth, Texas, and
Adopt Ordinance Approving an Amended Project and Financing Plan that Reflects Tarrant
County's Participation in the Tax Increment Reinvestment Zone No. 16, Veale Ranch
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize execution of an agreement with Tarrant County for their participation in Tax
Increment Reinvestment Zone No. 16, Veale Ranch, City of Fort Worth, Texas; and
2. Adopt an ordinance approving an amended Project and Financing Plan that reflects Tarrant
County's participation in the Tax Increment Reinvestment Zone No. 16, Veale Ranch.
DISCUSSION:
On September 12, 2023, the City Council adopted Ordinance No. 26420-09-2023, establishing Tax
Increment Reinvestment Zone (TIRZ) Number 16, City of Fort Worth, Texas (Veale Ranch) and a
governing Board of Directors (Board). On November 14, 2023, the City Council adopted Ordinance
No. 26581-11-2023 approving the Project and Financing Plan for the TIRZ. On June 18, 2024,
Tarrant County and its Commissioners Court (County) authorized the County to enter into an
agreement to participate in the TIRZ and to pay into the TIRZ fund fifty percent (50\%) of the County's
collected incremental tax revenue from the incremental increase in the value of real property located
in the TIRZ, beginning with tax year 2024 through December 31, 2052, or until a maximum
cumulative contribution of $154,684,773.00 has been paid by the County, whichever occurs first.
To reflect the County's participation in the TIRZ, an amendment to the Project and Financing Plan is
proposed for adoption by the City Council.
Staff recommends that the City Council authorize entering into an agreement with the County for its
participation in the TIRZ and to adopt the attached ordinance adopting an amended Project and
Financing 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.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that approval of these recommendations will have no material effect
on City funds.
TO
Fund Department Account Project Program Activity Budget Reference # Amount
ID ID Year (Chartfield 2)
FROM
Fund Department Account Project Program Activity Budget Reference # Amount
ID ID Year (Chartfield 2)
Submitted for City Manager's Office by:
William Johnson (5806)
Originating Department Head:
Additional Information Contact:
ATTACHMENTS
Robert Sturns (2663)
Michael Hennig (6024)
Cherie Gordon (6053)
240625 Veale TIF 16 Executed Aareement.pdf (CFW Internal)
Ord.AmendPFP.JBS.docx (Public)
TIF 16 Veale Ranch TIRZ First Amended PFP v5.1.pdf (Public)
Veale Ranch Resolution.pdf (Public)