HomeMy WebLinkAboutIR 25-0033INFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 25-0033
To the Mayor and Members of the City Council February 18, 2025
G Page 1 of 2
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SUBJECT: FY2024 (TY2023) TAX INCREMENT FINANCING (TIF) ANNUAL
* VA REPORT
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This Informal Report serves as an update to the Mayor and City Council regarding the performance of the
City's Tax Increment Finance (TIF) Districts for FY2024 (Tax Year 2023). The Annual Report includes
information on each TIF such as year -over -year appraised values and recent development as reported and
billed to individual taxing entities.
Across a number of important measures, the City of Fort Worth continued an exceptional pace of growth
during Fiscal Year 2024. As has been seen throughout the City of Fort Worth, the TIF districts have benefited
from robust market conditions that have created new opportunities for high -impact public -private
partnerships.
By leveraging the value of public improvements, Fort Worth has been able to attract private investment that
boosts the value of property, while strengthening neighborhoods and the local economy. This enables the
city to deliver services to citizens and businesses with less reliance on debt or tax rate increases.
The annual growth of Fort Worth's TIF districts continues its upward trajectory from previous years,
with taxable property values increasing by 4.9% in FY 2024 (Tax Year 2023). Across all of the city's
TIFs, a combined $5.5 billion of new taxable value has brought the per -acre value of Fort Worth TIFs from
a base of $72,629 to $379,628 — a 422.69% increase.
Overall
Base value of TIF ME I
$1,310,783,248
Current taxable value of TIF $6,851,378,490
Total increase in taxable value to date $5,540,595,242
Percent increase in taxable value to date 422.7%
Taxable value after termination' $51,711,122,757
Total projected increase in taxable value after termination $50,400,339,509
Total revenues produced by termination of TIF $4,283,851,263
These assumptions are tailored to the specific characteristics, development potential, and the impact of anticipated new projects
for each TIF district, taking into consideration their individual expiration dates and economic contexts. For instance, TIF 16
(Veale Ranch) is projected to have an estimated value of $39,808,758,624 at the time of its termination in 2105
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 25-0033
To the Mayor and Members of the City Council February 18, 2025
G Page 2 of 2
, r
SUBJECT: FY2024 (TY2023) TAX INCREMENT FINANCING (TIF) ANNUAL
* VA REPORT
yez3
Percent increase in taxable value by termination
Base value per acre
Current taxable value of TIF per acre
Projected taxable value per acre after termination
Increase in taxable value per acre to date
Increase in taxable value per acre by termination
3845.1 %
$72,629
$379,628
$2,865,263
$306,999
$2,792,637
Today, nearly half of all new private property value added within a Fort Worth TIF district can be
directly tied back to support provided by the TIF in the form of public improvements. These strategic
TIF investments have contributed significantly to Fort Worth's current tax base, acting as a catalyst for city-
wide growth, the revitalization of key neighborhoods, and enhancing the city's regional competitiveness.
We will continue our ongoing monitoring and reporting on the performance of Fort Worth's TIF districts. In
reviewing the FY23 annual TIF report, staff identified some discrepancies due to formulas not updating
correctly in the summary table. The specific information that has been corrected from last year's report
includes Taxable value after termination, Total projected Increase in taxable value, Total revenues produced
by termination of the TIF, and the percent increase/decreases that pertain to each of these areas. This report
is meant to provide a quick guide to the implementation and success of all the TIF districts within the city.
More information on each individual TIF District, including their project and financing plans, is openly
available on the City's website: https://www.fortworthtexas.gov/departments/econdev/tif
We appreciate your understanding and are committed to maintaining the highest standards of accuracy in
our reporting processes.
If you have any questions, please call Robert Sturns, Director of Economic Development Department at
817-392-2663.
Jesus "Jay" Chapa
City Manager
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS
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Base value of TIF $1,310,783,248
Current taxable value of TIF $6,851,378,490
Total increase in taxable value to date $5,540,595,242
Percent increase in taxable value to date 422.7%
Taxable value after termination $51,711,122,757
Total projected increase in taxable value $50,400,339,509
Total revenues produced by termination of TIF $4,283,851,263
Percent increase in taxable value by termination 3845.1 %
Base value per acre $72,629
Current taxable value of TIF per acre $379,628
Projected taxable value per acre after termination $2,865,263
Increase in taxable value per acre to date $306,999
Increase in taxable value per acre by termination $2,792,634
2
Executive Summary
• The annual growth of Fort Worth's TIF districts continues its upward
trajectory from previous years, with taxable property values
increasing by 4.9% in FY 2024 (Tax Year 2023), however this
trailed the increase in taxable values for the city overall, which
increased by 16.4%
• Nearly of all new private property value added within a Fort
Worth TIF district can be directly tied back to support provided by the
TIF fund in the form of public improvements.
• These strategic TIF investments have contributed significantly to Fort
Worth's current tax base.
City of Fort Worth vs. TIF Performance Since 2015
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City of Fort Worth vs TIF Performance Since 2015
TIF 14
_--Trinity Lakes
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fiscal Year
♦City of Fort Worth tTIF2 TIF3 TIM tTIF6 tTIF8 tTIF9 tTIF10 tTIF12 tTIF13 tTIF14 tTIF15
City of
Fort Worth
TIF 6
Riverfront
Performance Comparisons
Growth outliers:
• TIF 14 Trinity Lakes: The growth rate observed in Trinity Lakes since 2015 reflects the fact that it is a
newer TIF (TIFs often see fast growth in early years over a low base value) and stronger than anticipated
growth in Residential value relative to Commercial growth. (see page 68 for more information)
• TIF 6 Riverfront: This TIF was originally created to support the Radio Shack Campus, since creation it has
become a Tarrant County College Campus and is no longer on the tax role. Staff will be recommending
termination of this TIF in 2025.
Other TIFs of note:
• TIFs with higher levels of residential development have seen higher growth in value over the past decade.
TIF 16: Veale Ranch
*established 2024
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How do TIF districts work?
TIFs play a crucial role in supporting taxable property
values and encouraging new growths throughout Fort
Worth because they do not increase taxes on residents
or businesses within their borders.
TIFs are a way for the City to finance larger
infrastructure pro!ects without having to dip into the city
budget or spend ax dollars on them.
TIF funds can be used to pay for:
• Public infrastructure and transportation
improvements
• Redevelopment and economic development
initiatives
Public spaces, facilities, and community
enhancements
How do TIF districts work?
When a TIF is established, the total value of existing
real property in the district is identified as its base
value.
As the district begins to see more investment and
new development, the total taxable value of the area
begins to rise. The tax increment — the funds that
make up the difference between the new taxable
value and the original base value — are then set
aside to help finance public improvements within the
district.
TIF funding supports larger infrastructure projects
like the creation of roads or utilities, environmental
remediation, destruction of existing structures, or
historic preservation or rehabilitation.
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TIF 2 : Texas Motor Speedway
January 1, 1996 - December 31, 2035 1 1,490 acres
TIF 2 was created as a means to purchase the Texas
Motor Speedway and finance needed public improvements
within the TIF boundary. It was expanded in 1999 to
provide for construction, renovation, and operation of
educational facilities located in the Northwest ISD tract,
and to provide for additional infrastructure work such as
street improvements, drainage and traffic signs.
Texas Motor Speedway (TMS) continues to serve as a
major destination for tourism activity and an anchor to
north Fort Worth.
After several years of rising property appraisals and
heightened sales activity at Champions Circle and Tanger
Outlets, property values surged in 2023-24, resulting in a
remarkable 24.9% annual growth by the end of the year.
This increase reflects the strong consumer demand and
investment interest in the area, further enhancing its
attractiveness to buyers and investors alike.
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11
T I F 2 : Texas Motor Speedway
January 1, 1996 - December 31, 2035 1 1,490 acres
FY24 Estimated TIF Balance: $5,033,696.32
A total of $5 M of this balance has been committed to the following projects:
1. Texan Drive Widening Near NISD To accommodate increased student traffic at
Northwest High and Gene Pike Middle School, NISD is widening Texan Drive to
add a center turn lane and improve traffic flow. This project also enhances
access to F.M. 156 and Highway 114 while benefiting Fire Station #11 with a
direct route to the highway. The project cost is $2 million.
2. Traffic Signal Installation at Highway 114 and Championship Parkway New
traffic signals will be installed at Highway 114 and Championship Parkway to
address high traffic volumes. Denton County will fund the design and cover 50%
of the cost, with the City of Fort Worth managing the project. The total budget
is $1.5 million, with completion expected by Winter 2027/2028.
3. Texas Motor Speedway Road and Landscaping Improvements: This project
includes removing 81 trees, repairing roadways along Lone Star Circle and South
Allison Avenue, and adding eco-friendly landscaping and digital signage. These
updates will improve access for NASCAR fans and daily visitors to the Speedway.
The estimated cost is $1.5 million.
Entities and Levels of Participation:
• City of Fort Worth — 0%
• Contributed $0 this FY
• Denton County — 100%
(Capped at $90,000 per year)
• Contributed $82,722.20 this FY
• Participation ends December 31, 2026
• Northwest ISD — 100%
(With 2/3 rebate of annual fund contributions)
• Contributed $582,123.44 this FY (Net of 2/3 rebate)
• Participation ends December 31, 2025
Base value of TIF $5,084,127
Current taxable value of TIF $165,272,196
Total increase in taxable value to date $160,188,069
Percent increase in taxable value to date 3150.7%
Taxable value after termination $208,758,647
Total projected increase in taxable value $203,674,520
Total revenues produced by termination of TIF $27,954,223
Percent increase in taxable value by termination 4006.1 %
Base value per acre $3,414
Current taxable value of TIF per acre $110,995
Projected taxable value per acre after termination $140,201
Increase in taxable value per acre to date $107,581
Increase in taxable value per acre by termination $136,786
■Base ■ Additional Property Value
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TIF 2: Texas Motor Speedway (5-YEAR Growth by Land Use)
Land Use
2018 Taxable Value
2024 Taxable Value
July Certified
July Certified
A
26,994,550
5,967,703
A4
-
29,846,875
C1
966,556
420,440
D1
483
-
E
109,123
822,674
F1
94,181,637
114,218,744
F4
-
12,693,883
B
-
9,748,517
L1
21201,280
Total
122,252,349
175,920,116
A
Single-family Residential
C1
Vacant Land Residential
D1
Qualified Open Space Land
E
Rural land and Improvement Residential
F1
Commercial
L1
Personal Property Tangible Commercial
of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
3.4%
(21,026,847)
-78%
-26.1%
17.0%
29,846,875
-
0.2%
(546,116)
-57%
-15.3%
0.0%
(483)
-100%
-100.0%
0.5% I
713,551
654%
49.8%
64.9%
20,037,107
21%
3.9%
7.2% 1
12,693,883
-
5.5% j
9,748,517
1.3%
2,201,280
-
100.0%
53,667,767
44%
7.6%
TIF 2: Texas Motor Speedway FY2024 Budget to Actual
Budgeted Actual
FY2024 FY2024
Denton County:
83,276.40
82,722.20
School District:
1,750,225.31
1,746,370.33
Subtotal
1,833,501.71
1,829,092.53
Other Revenue
Interest Generated
154,875.00
182,018.48
EXPENDITURES MEN-
NWISD Rebate 1,166,816.87 1,164,246.89
16
TIF 3: Downtown
January 1, 1996 - December 31, 2025 1 407 acres
*seeking 20-year extension in FY2025
TIF 3 was created to promote the redevelopment of downtown Fort Worth and is administered in
partnership with Downtown Fort Worth, Inc.
Fort Worth's Downtown continues to evolve following market impacts from the COVID-19
pandemic, shifts in the location of work, and a challenging rate environment. Nevertheless,
Downtown has proven remarkably stable and resilient, with comparatively tight office vacancies
and the addition of several major projects located in or near the Downtown TIF. Of particular note
is construction activity in the southeastern portion of the TIF as part of Texas A&M's new
Fort Worth campus — a project that is anticipated to bring enormous long-term impact to the
Central Business District and one that further supports Downtown as a destination for investment
and new development.
In recognition of the still significant opportunities for further development within the district, a broad
array of public improvement requirements, and the continued need for support, City staff and the
Downtown TIF Board began exploration of a proposed extension to the term of the Downtown TIF
in order to provide the tools and resources necessary to meet these needs.
Major developments
• Substantial vertical construction of the first building of Texas A&M Fort Worth occurred during
the year, with additional forward progress on the organization and design of other campus
development.
• Although located just outside of the boundaries of the Downtown TIF, 2024 saw the delivery
of the first high-rise residential development in over thirty years, providing a critical comp for
the development of similar projects throughout the Central Business District.
7TH
TEXAS
17
TIF 3: Downtown
January 1, 1996 - December 31, 2025 1 407 acres
FY24 Estimated TIF Balance: $19,433,424.01
A total of $1,711,200.00 of this balance has been
committed to the following projects:
• $93,700 for TIF Administration
• $327,500 for 777 Main Garage Lease
• $143,000 for City Center Garage Lease
• $48,000 for The Tower Garage Lease
• $54,000 for TIF Planning
• $5,000 for Free Parking Marketing
• $40,000 for Parking Garage Insurance
• $1,000,000 for Heritage Park
Current remaining funds: $3,500,000.00
Note: Due to a $100 million cap on lifetime TIF expenses, TIF 3 has a
projected maximum of approximately $3.5 million remaining for support of
projects beyond those already listed. Revenue in excess of the cap on
expenses would otherwise support $16, 295, 919 in additional project costs.
Entities and Levels of Participation:
• City of Fort Worth — 60% (Capped)
• Contributed $0.00 this FY (Cap Met)
• Tarrant County Hospital District — 40% (Capped*)
• Contributed $0.00 this FY(Cap Met)
• Tarrant County College District — 20% (Capped*)
• Contributed $0.00 this FY (Cap Met)
• Tarrant Regional Water District — 40% (Capped*)
• Contributed $0.00 this FY (Cap Met)
• Tarrant County — 40% (Capped*)
• Contributed $0.00 this FY (Cap Met)
*$100 million lifetime expense cap met in FY2023
Base value of TIF $322,440,637
Current taxable value of TIF $1,310,127,957
Total increase in taxable value to date $987,687,320
Percent increase in taxable value to date 306.3%
Taxable value after termination $1,349,918,116
Total projected increase in taxable value $1,027,477,479
Total revenues produced by termination of TIF $110,172,063
Percent increase in taxable value by termination 318.7%
Base value per acre $792,237
Current taxable value of TIF per acre $3,218,988
Projected taxable value per acre after termination $3,316,752
Increase in taxable value per acre to date $2,426,750
Increase in taxable value per acre by termination $2,524,515
■Base ■ Additional Property Value
$1,200
$1, 000
$800
$600
$400
$200
$0
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TIF 3: Downtown (5-YEAR Growth by Land Use)
Land Use
2018 Taxable Value
2024 Taxable Value
July Certified
A
145,760,953
171,741,576
AC
363,680
677,100
B
22,108
-
C 1
70,014
14
BC
63,561,988
77,793,766
C1C
4,563,083
3,909,746
C2C
33,335,116
49,398,939
F1
1,065,207,899
1,030,948,949
J
2,450,000
2,082,500
Total
1,315,334,841
11336,552,590
A
Single-family Residential
AC
Single-family Interim Use
B
Multi -family Residential
C1
Vacant Lan Residential
BC
Multi -family Commercial
C1C
Vacant Land Commercial
C2C
Commercial Land w Improvement Value
F1
Commercial
J3
Commercial Utility Electric Companies
of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
12.8% Q
25,980,623
18%
3.3%
0.1%
313,420
86%
13.2%
0.0%
(22,108)
-100%[1
-100.0% E?j
0.0%
(70,000)
-100%
-81.8%
5.8% Q
14,231:771
22%
4.1%
0.3%
(653337)
-14%
-3.0%
3.7% 0
16,063,823
48%
8 2%
77.1%
(34,258,950)
-3%
-0.7%
0.2%
(367,500)
-15%
-3.2%
100.6%
21,217,749
2%
1 0.3%
21
TIF 3: Downtown FY2024 Budget to Actual
Budgeted Actual
FY2024 FY2024
City of Fort Worth:
$
3,352,424.00
$
Tarrant County:
$
662,063.28
$ -
Tarrant County Hospital District:
$
662,063.28
$ -
Tarrant County College District:
$
188,519.81
$ -
Tarrant Regional Water District:
$
89,849.55
$ -
Subtotal
$
4,954,919.92
$
Other Revenue
Interest Generated
$
550,927.00 $ 853,975.89
TIF Administration
764,000.00 1 $
704,538.76
TIF 4: Southside
January 1, 1996 - December 31, 2032 1 1,278 acres
TIF 4 was created to promote the revitalization of Fort Worth's Near
Southside neighborhood and medical district, and to advance the
transformation of this formerly blighted area into an economically
productive, vibrant, mixed -use district. Near Southside Inc. administers
TIF 4, working in close partnership with the city's Economic Development
Department.
TIF 4 was originally established with a 25-year term, with an expiration date
of December 31, 2022. In the fall of 2022, prior to the TIF's expiration, a
collaborative review among NSI, Economic Development, and the City
Manager's Office led to a proposal to extend TIF 4 for 10 years to complete
important infrastructure and redevelopment work remaining. A significant
modification is a reduced contribution rate from the TIF's only remaining
contributing entity: the City of Fort Worth. The City Council approved TIF
4's extension in November 2022, with a new expiration of December 31,
2032.
FY2024 delivered another year of impressive redevelopment. Recent
notable and highly visible milestones include the completion of Arnold Hall
at TCU's Burnett School of Medicine, the launch of a $1.6 billion in
expansion projects at JPS Health Network, the transformation of South
Main Village into a vibrant mixed -use neighborhood and entertainment
destination, and broader awareness of Fort Worth's Medical Innovation
District and a Texas Commission on the Arts -designated Cultural District.
LANCASTER
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23
TIF 4: Southside
January 1, 1996 - December 31, 2032 1 1,278 acres
Major developments
-Vickery Village, located in the Near Southside's central northern section, is rapidly emerging
as the next frontier for the district's continuing revitalization. 2024 saw the approval of a
major infrastructure agreement with Trademark Property in support of The Vickery, a $80
million mixed -use project which launched construction in February 2024. The project is already
transforming Vickery Boulevard and the 1-30 corridor between Near Southside and
Downtown, west of Hemphill. The TIF's $4.9 million investment will bury overhead electrical
lines and allow the installation of a beautiful new streetscape along Vickery's northern curb; will
complete a missing sidewalk connection along the street's southern curb between Lipscomb
and Hemphill; and will offset a portion of costs associated with much -needed upgrades to storm
drain and sanitary sewer infrastructure. Previous TIF investments to facilitate the adaptive
reuse of historic buildings along Vickery set the stage for Trademark's development.
-The Near Southside's TIF-supported street repair program began construction of a fifth
round in 2024, and also secured additional funding for a sixth round. The program has
already reconstructed dozens of street segments across the district, while also replacing old
water and sewer lines underneath those streets in partnership with the Water Department. The
street repair initiative has become a critically important component in the district's
revitalization, as these new roadways complement and facilitate hundreds of millions in new
private investment along the improved streets. Expanding on that success, in 2024 TIF 4
funded the reconstruction of neighborhood streets in poor condition in the Historic Southside
and Hillside neighborhoods east of 1-35W. Those TIF investments are delivering highly
anticipated infrastructure improvements that complement the rapid growth of infill housing
in those historic neighborhoods.
TIF 4: Southside
January 1, 1996 - December 31, 2032 1 1,278 acres
FY24 Estimated TIF Balance: $22,877,681.45
$15,909,203 has been committed to the following
projects:
•$1,995,447 for Street Repair Program
•$22,901 for Gateways Final Design
•$2,800,000 for Gateways Construction
•$208,116 for Wayfinding
•$30,000 for 2024 Magnolia Green Garage
•$80,891 for 2024 Streetscape Program
•$58,569 for Watts Park
•$114,279 for 2024 Administration
•$4,900,000 for Trademark Vickery
•$1,750,000 for Historic Laundry Block
•$890,000 for Nobleman Hotel
•$480,000 for NRP/JPS Magnolia Lofts
•$79,000 for Historic Cumberland Properties
•$2,500,000 for JPS Infrastructure Partnership
Entities and Levels of Participation:
• City of Fort Worth - 90% through 2022, -30% after
• Contributed $2,700,000 this FY
• Tarrant County Hospital District - 50% (Fulfilled)
• Contributed $0 this FY
• Tarrant County College District - 50% (Fulfilled)
• Contributed $0 this FY
• Tarrant Regional Water District- 100% (Fulfilled)
• Contributed $0 this FY
• Tarrant County - 50% (Fulfilled)
• Contributed $0 this FY
• Fort Worth ISD - 100% (Fulfilled)
• Contributed $0 this FY
Base value of TIF * $229,759,626
Current taxable value of TIF $1,585,653,939
Total increase in taxable value to date 1,355,894,313
Percent increase in taxable value to date 590.1 %
Taxable value after termination
$2,638,018,241
Total projected increase in taxable value
$2,408,258,615
Total revenues produced by termination of TIF
$101,490,215
Percent increase in taxable value by termination
1,048.2%
Base value per acre
$179,781
Current taxable value of TIF per acre
$1,240,731
Projected taxable value per acre after termination
$2,064,177
Increase in taxable value per acre to date
$1,060,950
Increase in taxable value per acre by termination
$1,884,396
Base Additional Property Value
$ 3,000
$ 2, 500
$ 2,000
$1, 500
$1,000
$500
$0
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TIF 4: Southside (5-YEAR Growth by Land Use)
Land Use
2018 Taxable Value
2024 Taxable Value
July Certified
A
31,130,047
69,145,041
AC
1,680,937
1,366,300
B
2,621,341
6,433,265
C1
1,860,405
3,996,978
O
-
192,500
BC
146,210,973
588,860,997
C1C
27,819,129
53,936,750
C2C
14,964,703
68,161,390
F1
583,881,540
880,009,117
F2
17,060,901
25,052,350
J2
100
100
J3
304,305
261,486
J5
164,559
164,859
Total
827, 698,940
1, 697, 581,133
A
Single-family Residential
AC
Single-family Interim Use
B
Multi -family Residential
C1
Vacant Land Residential
O
Residential Inventory
% of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
4.1% 1
38,014,994 Q
122% IL
17.3%
0.1%
(314,637)
-19% I
-4.1%
0.4% 1
3,811,924 1
145% W:]
19.7%
0.2%
2,136,573
115%
16.5%
0.0%
192,500
-
-
34.7%
442,650,024
303%
32.1%
3.2% 1
26,117,621 Q
94% f:]
14.2%
4.0% 1
53,196,687 E
355%
35.4%
51.8% �
296,127,577 ME]
51%
8.6%
1.5% 1
7,991,449 I
47%
8.0%
0.0%
-
0% ?
0.0%
0.0%
(42,819)
-14% I
-3.0%
0.0%
300
0% ?
0.0%
100.0%
869,882,193
105%
15.4%
BC
Multi -family Commercial
C1C
Vacant Land Commercial
C2C
Commercial Land w Improvement Value
F1
Commercial
F2
Industrial
J2
Commercial Utility Gas Companies
J3
Commercial Utility Electric Companies
J5
Commercial Utility Railroads
28
TIF 4: Southside FY2024 Budget to Actual
City of Fort Worth:
Subtotal
Other Revenue -Transfer from PARD
Interest Generated
Other Revenue
TIF Administration
TIF Projects
Historic Cumberland Properties
Nobleman Hotel
Capital Interfund Trasfer Out
Budgeted Actual
FY2024 FY2024
2,700,000.00 2,700,000.00
2,700,000.00 2,700,000.00
6,956.00 6,956.00
764,959.00 1,029,009.04
334,186.11
387,500.00 392,030.70
3,855,000.00 996,180.00
79,000.00
890,000.00
- 3,150,000.00
29
TIF 6: Riverfront
November 12, 2002 - November 20, 2036 1 64 acres
*seeking 20-year extension in FY2025
TIF 6 was created to promote the development of
north downtown, primarily near the former
RadioShack campus/the new Fort Worth City Hall.
All property within the Riverfront TIF is currently
occupied by Tarrant County College and other exempt
uses. Despite the high level of activity that this brings
to the district and to the northern portion of Downtown
Fort Worth, the tax-exempt status of property has the
effect of nullifying tax increment and any revenue that
might otherwise go to the TIF.
All TIF supported projects have been fully funded and
no projects are presently anticipated for the TIF
district.
30
TIF 6: Riverfront
November 12, 2002 - November 20, 2036 1 64 acres
FY24 Estimated TIF Balance: ($210,916.08)
All projects supported by TIF 6 (Radio Shack Campus)
have been fully funded and all terms satisfied. There
are no active projects or future commitments at this
time.
Entities and Levels of Participation:
• City of Fort Worth — 0%
• Contributed $0 this FY
• Tarrant County Hospital District — 100%
• Contributed $0 this FY
• Tarrant County College District — 80%
• Contributed $0 this FY
• Tarrant Regional Water District — 100%
• Contributed $0 this FY
• Tarrant County — 100%
• Contributed $0 this FY
Base value of TIF
$2,822,348
Current taxable value of TIF
$-
Total increase in taxable value to date
$(2,822,348)
Percent increase in taxable value to date
-100.0%
Taxable value after termination
$-
Total projected increase in taxable value
$(2,822,348)
Total revenues produced by termination of TIF
$5,096,624
Percent increase in taxable value by termination
-100.0%
Base value per acre
$44,377
Current taxable value of TIF per acre
$-
Projected taxable value per acre after termination
$-
Increase in taxable value per acre to date
$(44,377)
Increase in taxable value per acre by termination
$(44,377)
32
$120
$100
$80
$60
$40
$20
$0
■Base ■AdditionaIPropertyVaIue
�y., �y,L009 �y,L011 �y�013 -,All
y�"CIN5 �,Lp1i �y.L019 �y.L011 Fy�'01$ �y,LO'L`' �y,L01� Eyti0�9 ��,L031 �y�'031 Fy'1039
TIF 8: Lancaster Corridor
December 9, 2003 - December 31, 2024 1 220 acres
TIF 8 was created to promote development along the Lancaster corridor after an elevated portion
of the I-30/I-35 interchange was realigned and demolished, re-establishing Lancaster Avenue as
one of the primary gateways to Downtown Fort Worth and the Near Southside medical district.
TIF 8 has been the center of significant activity for Downtown Fort Worth in recent years. Of
particular note is the delivery of Le Meridien Hotel and Deco 969 —the first new high-rise
residential property to be built in Fort Worth in more than thirty years. The rebounded strongly from
the impacts of the COVID-19 pandemic, particularly in hospitality and restaurant -related properties
near the Fort Worth Convention Center. Property valuations increased sharply during the 2023 tax
year, gaining 14% year -over -year, driven in large part by the construction of TIF-supported
projects. As 2024 stands as the final year of the Lancaster TIF's current term, discussions between
City staff and partners concerning a proposed extension to the term of the TIF to enable support
for future projects and to address a broad range of remaining public improvements.
Major developments
• Deco 969 completed construction and began leasing to tenants.
• Le Meridien Hotel opened, following completion of the redevelopment of the previously vacant
Hilton Annex building.
• The announced creation of a new and expanded Texas A&M Fort Worth campus has
generated significant interest among investors and developers in the area.
• The City of Fort Worth secured necessary referendum support to add an important new source
of financing to the construction of improvements to the Fort Worth Convention Center.
VICKERY
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'SS`Dt�
TIF 8: Lancaster Corridor
December 9, 2003 - December 31, 2024 1 220 acres
FY24 Estimated TIF Balance: $6,236,882.96
A total of $1,718,598 has been committed to the
following projects:
• $118,598 for TIF administration in remaining years of the
term
• $900,000 for Burnett Lofts
• $700,000 for Houston Street Garage Retail
Entities and Levels of Participation:
• City of Fort Worth — 50%
• Contributed $2,173,964.09 this FY
• Tarrant County Hospital District — 0%
• Contributed $0 this FY
• Tarrant County College District — 40%
(Capped at $7 million, not projected to reach in remaining
term of TIF)
• Contributed $294,206.19 this FY
• Tarrant Regional Water District — 40%
• Contributed $70,148.44 this FY
• Tarrant County — 40% - (Fulfilled)
(Capped at $7 million, cap met in FY2023)
Base value of TIF $178,938,722
Current taxable value of TIF $825,470,793
Total increase in taxable value to date $646,532,071
Percent increase in taxable value to date 361.3%
Taxable value after termination $983,445,610
Total projected increase in taxable value $804,506,888
Total revenues produced by termination of TIF $49,512,494
Percent increase in taxable value by termination 449.6%
Base value per acre $813,358
Current taxable value of TIF per acre $3,752,140
Projected taxable value per acre after termination $4,470,207
Increase in taxable value per acre to date $2,938,782
Increase in taxable value per acre by termination $3,656,849
36
OL
■ Base ■ Additional Property Value
N $1,200
c
0
$1,000
$800
$600
$400
$200
$0
e�ti�a F�ti�y F�ti.10
TIF 8: Lancaster Corridor (5-YEAR Growth by Land Use)
Land Use
2018 Taxable Value
2024 Taxable Value
July Certified
A
86,332,503
130,224,878
AC
-
1,811,913
C1
6
7
BC
24,354,081
214,462,532
C1C
6,304,570
2,692,914
C2C
8,854,169
11,052,502
F1
438,166,350
607,654,327
J 2
1,257,001
-
J 3
14,478,096
1,068,451
J4
-
14,478,086
Total
579,746,776
983,445,610
A
Single-family Residential
AC
Single-family Interim Use
C1
Vacant Land Residential
BC
Multi -family Commercial
C1C
Vacant Land Commercial
C2C
Commercial Land w Improvement Value
F1
Commercial
F2
Industrial
J2
Commercial Utility Gas Companies
J3
Commercial Utility Electric Companies
% of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
13.2%
43,892,375
51%
8.6%
0.2%
1,811,913
-
-
0.0%
1
17%
3.1%
21.8%
190,108,451
781%
54.5%
0.3%
(3,611,656)
-57%
-15.6%
1.1% i
2,198,333
25%
4.5%
61.8%
169,487,977
39%
6.8%
0.0%
(1,257,001)
-100%
-100.0%
0.1%
(13,409,645)
-93%
-40.6%
1.5% 1
14,478,086
-
-
100.0%
403,698,834
70%
11.1%
38
TIF 8: Lancaster Corridor FY2024 Budget to Actual
Budgeted Actual
FY2024 FY2024
City of Fort Worth:
$
2,337,398.00
$
2,173,964.09
Tarrant County:
$
-
Tarrant County College District:
$
318,725.00
$
294,206.19
Tarrant Regional Water District:
$
75,982.00
$
70,148.44
Subtotal
$
2,732,105.00
$
2,538,318.72
Other Revenue
Interest Generated
TIF Administration
Catalyst Phase - Burnett Lofts
Waggoner Hotel
Southern Land
Le Meridien
24,757,050.13 $ 1 24,666,248.96
$ 104,366.00 $
$ 75,000.00 $
$ 8,000,000.00 $
$ 2,750,000.00 $
$ 5,500,000.00 $
104,366.00
75,000.00
8,000,000.00
2,750,000.00
7,500,000.00
39
December 16,
River Vision
December
TIF 9 was created to promote redevelopment along the Trinity River while creating mixed -
use development and utilizing Gateway Park as hydraulic valley storage to provide the
necessary flood protection associated with the bypass flood control.
Building on the announced awarding of federal funds for the Central City Flood Control
project in 2022, local partners engaged a team led by national real estate expert
HR&AAdvisors to provide key analysis and consulting services that will guide the
future development of Panther Island. That study resulted in a refreshed vision for Panther
Island that considers recent changes in the national real estate market, a detailed outlook
for and prioritization of development sequencing, and recommendations on near- and
long-term governance for the district.
Major developments
• The City of Fort Worth, Tarrant County, the Tarrant Regional Water District, Tarrant
County College, Real Estate Council of Greater Fort Worth, Downtown Fort Worth Inc.
and Streams & Valleys engaged a team led by national real estate expert HR&A
Advisors who produced a "Vision 2.0" for the district as well as recommendations for
supporting desired real estate development on Panther Island.
In FY2024, TIF 9 accepted for reimbursement approximately $4.6 million in
project costs relating to land acquisition, business relocations, environmental
remediation, demolition, and other project costs for the Central City Flood
Control Project.
35W
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40
TIF 9: Trinity River Vision
December 16, 2003 - December 31, 2054 1 3,980 acres
FY24 Estimated TIF Balance: $525.32
A total of 100% of this balance has been committed to
the following projects:
• Central City Flood Control Project
Entities and Levels of Participation:
• City of Fort Worth — 80%
• Contributed $4,364,250.86 this FY
• Tarrant County Hospital District — 80%
• Contributed $1,366,620.48 this FY
• Tarrant County College District — 80%
• Contributed $795,882.95 this FY
• Tarrant Regional Water District — 80%
• Contributed $189,580.97 this FY
• Tarrant County — 80%
• Contributed $1,273,046.43 this FY
Base value of TIF $130,744,298
Current taxable value of TIF $1,007,959,679
Total increase in taxable value to date $877,215,381
Percent increase in taxable value to date 670.9%
Taxable value after termination
$3,935,319,299
Total projected increase in taxable value
$3,804,575,001
Total revenues produced by termination of TIF
$769,736,165
Percent increase in taxable value by termination
2,909.9%
Base value per acre
$32,850
Current taxable value of TIF per acre
$253,256
Projected taxable value per acre after termination
$988,774
Increase in taxable value per acre to date
$220,406
Increase in taxable value per acre by termination
$955,923
Base Additional Property Value
$2,000
.o $1,800
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$200
$0
OD O$ !,0 1' ,, ti� tit -,0 -,1- 'l ti� , % ,�O L Op, F � F F 1< � F F Ik F (< 1< � Fyy-yA-e-(P-ti0-OytiAf'APA,0A.OAf-,PA-Py0
m
c
v
v
v
cF
c
0
z
TIF 9: Trinity River Vision (5-YEAR Growth by Land Use)
Land Use
2018 Taxable Value
2024 Taxable Value
July Certified
A
55,270,577
80,688,984
AC
8,850
-
B
56,854
99,594
C1
105,387
607,728
BC
288,078,483
643,596,051
C1C
30,663,794
23,752,093
C2C
8,951,613
7,722,328
D1
5,305
22,984
F1
245,329,184
219,067,785
F2
21,749,316
34,086,157
J2
4,063,115
3,959,003
J 3
1,103,273
947,190
J 5
8,494
8,494
J 6
27,181
27,181
Tota 1
655,421,426
1,014,585,572
A
AC
B
C1
BC
C1C
C2C
D1
Single-family Residential
F1
Single-family Interim Use
F2
Multi -family Residential
J2
Vacant Land Residential
J3
Multi -family Commercial
J5
Vacant Land Commercial
J6
Commercial Land w Improvement Value
Qualified Open Space Land
% of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
8.0% 1]
25,418,407
46%
7 9%
0.0%
(8,850)
-100%
-100.0%
0.0%
42,740
75%
11.9%
0.1%
502,341
477%
42.0%
63.4%
355,517,568
123%
17.4%
2.3% I
(6,911,701)
-23%
-5.0%
0.8% 1
(1,229,285)
-14%
-2.9%
0.0%
17,679
333%
34.1%
21.6%
(26,261,399)
-11%
-2.2%
3.4% 1
12,336,841
57%
9.4%
0.4% 1
(104,112)
-3%
-0.5%
0.1%
(156,083)
-14%
-3.0%
0.0%
0%
0.0%
0.0%
0%
0.0%
100.0%
359,164,146
55%
9.1%
Commercial
Industrial
Commercial Utility Gas Companies
Commercial Utility Electric Companies
Commercial Utility Railroads
Commercial Utility Pipelines
44
TIF 9: Trinity River Vision FY2O24 Budget to Actual
REVENUE AL
City of Fort Worth: $
Tarrant County: $
Tarrant County Hospital District: $
Tarrant County College District: $
Tarrant Regional Water District: $
Subtotal $
Other Revenue
Interest Generated $
Budgeted Actual
FY2024 FY2024
4,364,250.86
$
4,364,250.86
1,373,149.70
$
1,273,046.43
1,373,149.70
$
1,366,620.48
795,882.95
$
795,882.95
189,580.97
$
189,580.97
8,096,014.18
$
7,989,381.69
21,170.00 $
9.14
EXPENDITURES
TRVA Loan $ 8,094,021.28 $ 8,039,644.22
01
45
TIF 10: Lone Star
June 15, 2004 - December 31, 2025 1 981 acres
TIF 10 was created to finance the development of public space and infrastructure on and
near the site of Cabela's, a 200,000 square foot hunting and outdoor retail facility in
north Fort Worth.
Overall, TIF 10 has experienced positive revenue growth, with a year over year (YOY)
increase of approximately 44.66% from FY 23 to FY 24. Despite earlier concerns about
a decline in taxable value due to Cabela's sales performance, recent developments
indicate a significant recovery and an upward trend in revenue. Additionally, nearby
developments at Alliance Airport continue to attract new businesses, further
contributing to Fort Worth's economy and reinforcing the city's position as a prime
location for aerospace, manufacturing, and transportation innovation.
Major developments
• Revenues from TIF 10 were initially dedicated to financin public improvements and
exhibition space that supported the Cabela's development. As of now, no further
development projects can be funded by TIF resources as all amounts collected are
being used to pay down the existing infrastructure cosis.
• Cabela's purchased the bonds that provided the up -front fundin for the project. These
bonds were backed by tax increments collected within the TIF dgstrict.
Bond Write -Off Details
• In accordance with the terms of the Indenture of Trust, any remaining unpaid principal
and interest on the bonds will be forgiven as of July 1, 2024, if the trust estate is
insufficient to cover these amounts. As of the bond maturit , the trust estate lacked
sufficient funds to fully pay the outstanding principal and interest, resulting in the
following write-offs:
• Principal: $31,617,000.00
• Interest: $28,377,718.02 (accrued as of September 30, 2024)
• These unpaid amounts are now considered forgiven.
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TIF 10: Lone Star
June 15, 2004 - December 31, 2025 1 981 acres
FY24 Estimated TIF Balance: $0.00
A total of $1,802,656.49 has been committed to the
following projects in FY2024:
• The Lone Star Local Government Corporation in
support of Cabela's project
• *The TIF was dissolved on October 16, 2024 per the
lien release of outstanding principal on bonds.
Entities and Levels of Participation:
• City of Fort Worth — 90%
• Contributed $1,242,484.37 this FY
• Tarrant County Hospital District — 50%
• Contributed $202,125.30 this FY
• Tarrant County College District — 50%
• Contributed $118,820.67 this FY
• Tarrant Regional Water District — 60%
• Contributed $14,531.24 this FY
• Tarrant County — 50%
• Contributed $195,803.00 this FY
Base value of TIF $16,073,937
Current taxable value of TIF $221,358.425
Total increase in taxable value to date $205,284,488
Percent increase in taxable value to date 1,277.1%
Taxable value after termination $245,535,336
Total projected increase in taxable value $229,461,399
Total revenues produced by termination of TIF $16,615,732
Percent increase in taxable value by termination 1,427.5%
Base value per acre $16,385
Current taxable value of TIF per acre $225,646
Projected taxable value per acre after termination $250,291
Increase in taxable value per acre to date $209,260
Increase in taxable value per acre by termination $233,906
48
■ Base Additional Property Value
N $300
$250
�F
I
$200
$150
$100
$50
$0
o`' o`O 01 O� 00 1° titi titi ti3 tia by ti0 h^ 'y`b 'Y� 'Y° titi titi ti'' ti°` 'Ly ti6 tit ti�
'c E F F F Q 'c F F F F F F F Q F F F F F F Q F F
TIF 10: Lone Star (5-YEAR Growth by Land Use)
2024 Taxable Value
Land Use
2018 Taxable Value
July Certified
A
21,841,175
34,580,857
C1
215,348
2,457,161
E
453,000
639,315
O
621,500
-
36,630,000
56,200,000
BC
C1C
611,734
11,045,581
C2C
200
1,100
D1
64,349
45,322
F1
52,899,466
142,966,000
Total
113,336,772
247,935,336
A
Single-family Residential
E
Rural Land and Improvements Residential
O
Residential Inventory
C1
Vacant Land Residential
BC
Multi -family Commercial
C1C
Vacant Land Commercial
C2C
Commercial Land w Improvement Value
D1
Qualified Open Space Land
F1
Commercial
of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
13.9% J]
12,739,682
58%
9.6%
1.0% 1
2,241,813
1041%
62.7%
0.3%
186,315
41%
7.1%
0.0%
(621,500)
-100% 4
-100.0%
22.7%
19,570,000
53%
8 9%
4.5% 1
10,433,847
1706%
78.4%
0.0%
900
450%
40.6%
0.0%
(19,027)
-30%
-6.8%
57.7% 1110[=]
90,066,534
170%
22.0%
100.0%
1 134,598,564
119%
16.9%
50
TIF 10: Lone Star FY2O24 Budget to Actual
Budgeted
FY2024
Actual
FY2024
City of Fort Worth:
1,268,019.00
1,242,484.37
Tarrant County:
207,534.00
195,803.00
Tarrant County Hospital District:
207,534.00
202,125.30
Tarrant County College District:
121,306.00
118,820.67
Tarrant Regional Water District:
15,229.00
14,531.24
Subtotal
1,819,622.00
1,773,764.58
Other Revenue
Interest Generated
24,739.00
16,322.47
Lone Star Local Government Coporation 1,241,883.93 1,802,656.49
51
TIF 12: East Berry Renaissance
June 18, 2006 - December 31, 2027 1 604 acres
TIF 12 was created to help fund public infrastructure improvements along the East
Berry Street corridor and promote redevelopment and growth throughout the area,
particularly in the Renaissance Heights Purpose Built Community.
Major developments supported by TIF in FY2024
The TIF is currently supporting the E. Berry master corridor transformation plan
from 1-35 to Lake Arlington. The plan will look at transportation, public
infrastructure improvements, development opportunities, smart city
infrastructure and more, and is supported by $2.5 million in bond funds from the
City's 2022 bond package. Final recommendations and implementation are se -
to begin early 2025.
The TIF has made its final payment for the Mason Heights multi -use
development that included Colombia Renaissance's multifamily and senior
housing projects, YMCA, Uplift School, and ACH office. The TIF is awaiting
updated plans for final phase of the Renaissance Heights Purpose Built
Community's development, with plans to bring additional mixed income housing
opportunities with Housing Channel and a community land trust, enhancements
to Happy Park, neighborhood commercial space, and Colombia Renaissance's
final affordable housing building.
52
TIF 12: East Berry Renaissance
June 18, 2006 - December 31, 2027 1 604 acres
FY24 Estimated TIF Balance: $1,397,670.70
A total of $200,092 has been committed to the
following projects and administration, prioritizing those
in Renaissance Heights:
• $200,092 for TIF administration in remaining years
of the term
Entities and Levels of Participation:
• City of Fort Worth — 100%
• Contributed $933,831.73 this FY
• Tarrant County Hospital District — 80%
(Capped at $4,472,590)
• Contributed $211,019.70 this FY
• Tarrant County College District — 50%
• Contributed $80,302.47 this FY
• Tarrant Regional Water District — 100%
• Contributed $38,400.32 this FY
• Tarrant County— 100% (Capped at $7,100,000)
• Contributed $258,815.51 this FY
Base value of TIF $ 29,176,323
Current taxable value of TIF $168,035,911
Total increase in taxable value to date $138,859,588
Percent increase in taxable value to date 475.9%
Taxable value after termination
$214,807,867
Total projected increase in taxable value
$185,631,544
Total revenues produced by termination of TIF
$18,774,608
Percent increase in taxable value by termination 636.2%
Base value per acre $48,305
Current taxable value of TIF per acre $278,205
Projected taxable value per acre after termination $355,642
Increase in taxable value per acre to date $229,900
Increase in taxable value per acre by termination $307,337
N e—
e
O
$200
$150
$100
$50
$0
e
■ Base ■Additional Property Value
ti� , , ti3 ti° ti5 ti� , ti� ti� by titi ti� ti° ti5 tie ti� ti$ ti9 �o
o o o oti J,yo
F F F F F F F F F e F e F F e F F F F F F r
TIF 12: East Berry Renaissance (5-YEAR Growth by Land Use)
Land Use
2018 Taxable Value
2024 Taxable Value
July Certified
A
15,542,198
64,733,980
O
558,600
21,863
C1
132,422
208,587
BC
15,300,000
38,815,029
C1C
11,641,490
10,464,669
C2C
336,888
327,728
D1
-
7,631
F1
70,973,783
70,166,725
F2
2,724,755
6,217,200
Total
117,210,136
190,963,412
A
Single-family Residential
O
Residential Inventory
C1
Vacant Land Residential
BC
Multi -family Commercial
C1C
Vacant Land Commercial
C2C
Commercial Land w Improvement Value
D1
Qualified Open Space Land
F1
Commercial
F2
Industrial
of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
33.9%
49,191,782
317%
33.0%
0.0%
(536,737)
-96%
-47.7% 01(
0.1%
76,165
58%
9.5%
20.3%
23,515,029
154%
20.5%
5.5%
(1,176,821)
-10%
-2.1%
0.2%
(9,160)
-3%
-0.5%
0.0%
7,631
-
36.7%
(807,058)
-1%
-0.2%
3.3% n
3,492,445
128%
17.9%
100.0%
73,753,276
63%
10.3%
56
TIF 12: East Berry Renaissance FY2024 Budget to Actual
Budgeted Actual
FY2024 FY2024
EMEMW
City of Fort Worth:
$
961,244.00
$
933,830.73
Tarrant County:
$
282,742.00
$
258,815.51
Tarrant County Hospital District:
$
226,194.00
$
211,019.70
Tarrant County College District:
$
82,454.00
$
80,302.47
Tarrant Regional Water District:
$
39,420.00
$
38,400.32
Subtotal
$
1,592,054.00
$
1,522,368.73
Other Revenue
$
-
Interest Generated
$
22,467.00
$
34,390.50
TOTAL FUNDS AVAILABLE
$
i
., „• i
E Berry Corridor Design & Planning Study
$
200,000.00
$
200,000.00
TIF Administration
$
47,779.00
$
47,779.00
57
TIF 13: Woodhaven
November 27, 2007 - December 31, 2028
1,100 acres
TIF 13 was created to help fund public infrastructure
improvements that will provide a "foundation for
development" to encourage and support the long-term
public needs of the neighborhood and secure mixed -use
economic growth opportunities in the Woodhaven area.
The district has continued a strong pace of growth seen
in recent years, with appraised values increasing 15%
year -over -year.
Major developments
• EMC Development, LLC, completed the second phase of Highwoods Village, a
single-family residential development located at the corner of Randol Mill Road
and Highwoods Trail.
• The City hired Interface Studios to conduct a Conservation Plan, to analyze the
opportunities for development/redevelopment and what investments would best
encourage new investments. Plan set to be complete in early 2025.
58
TIF 13: Woodhaven
November 27, 2007 -December 31, 2028 1 1,100 acres
FY24 Estimated TIF Balance: $17,305,632.02
A total of $915,524.00 of this balance has been
committed to the following projects:
• $532,197.00 for Administration
• $184,951.00 to Highwoods Village Development
• $198,376.00 to Woodhaven Conservation Plan
Current remaining funds: $16,390,108.02
Note: In 2022, Transportation and Public Works (TPW) received $4,200.000
from TIF13 for the Randol Mill Sidewalk project; the project has since
been cancelled. However, the TIF13 Board has approved a $75,000.00
expenditure to pay for public engagement due to work already been
contracted. Economic Development is currently in the process of
receiving the $4,200,000 back from TPW.
Entities and Levels of Participation:
• City of Fort Worth — 100%
• Contributed $3,025,752.69 this FY
• Tarrant Regional Water District — 100%
• Contributed $121,326.41 this FY
• Tarrant County — 80% (Capped)
• Contributed $124,208.26 this FY
• Tarrant County Hospital District — 80% (Fulfilled)
• Contributed $0.00 this FY
• Tarrant County College District — 50%
• Contributed $254,111.29 this FY
Base value of TIF $181,859,151
Current taxable value of TIF $631,785,201
Total increase in taxable value to date $449,926,050
Percent increase in taxable value to date 247.4%
Taxable value after termination $632,731,239
Total projected increase in taxable value $450,872,088
Total revenues produced by termination of TIF $41,251,125
Percent increase in taxable value by termination 247.9%
Base value per acre $165,327
Current taxable value of TIF per acre $531,405
Projected taxable value per acre after termination $575,210
Increase in taxable value per acre to date $366,079
Increase in taxable value per acre by termination $409,884
$700
0
$600
$500
7t
3
$0
FY100a FY,(P9 0,p10 op'110)"1111013 ",ON"
111015" ON' V1,y011 1110111
11"ON9 11,1010 o vil 11,0111v y01" 11,y021,
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TIF 13: Woodhaven (5-YEAR Growth by Land Use)
Land Use
2018 Taxable Value
2024 Taxable Value
July Certified
A
42,683,813
84,194,919
B
3,683,350
7,194,208
C1
236,014
1,359,764
BC
223,651,946
386,027,697
C1C
7,016,534
8,407,787
C2C
839,821
417,187
F1
79,895,955
96,281,520
J 2
5,220
5,220
J 3
748,909
657,559
Total
358,761,562
584,545,861
A
Single-family Residential
B
Multi -family Residential
C1
Vacant Land Residential
BC
Multi -family Commercial
C1C
Vacant Land Commercial
C2C
Commercial Land w Improvement Value
F1
Commercial
J2
Commercial Utility Gas Companies
J3
Commercial Utility Electric Companies
of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
14.4%
41,511,106
97%
J
14.6%
1.2%
3,510,858 I
95%
14.3%
0.2%
1,123,750 I
476%
41.9%
66.0%
162,375,751 I§LL_
73%
11.5%
1.4% 1
1,391,253 I
20%
3.7%
0.1%
(422,634)
-50%
-13.1%
16.5%
16,385,565
21%
3.8%
0.0%
-
0%
0.0%
0.1%
(91,350)
-12%
-2.6%
100.0%
225,784,299
63%
1 10.3%
62
TIF 13: Woodhaven FY2024 Budget to Actual
Budgeted
FY2024
$
3,047,658.02 $
City of Fort Worth:
Tarrant County:
$
124,208.26 $
Tarrant County Hospital District:
$
- $
Tarrant County College District:
$
256,031.95 $
Tarrant Regional Water District:
$
122,233.29 $
Subtotal
$
3,550,131.52 $
Other Revenue
Actual
FY2024
_Mw _Mw
3,025,752.69
124,208.26
254,111.29
121,326.41
3,525,398.65 I
GeneratedInterest 354,258.00 700,516.40
TOTAL FUNDS AVAILABLE $ 17,533,152.09 $ 17,969,069.83
Sidewalk Connectivity $ 4,200,000.00 $ 151,623.81
Highwoods Village Development, LLC $ 184,951.00 $ 369,902.00
TI F Administration $ 141,912.00 $ 141,912.00
63
TIF 14: Trinity Lakes
November 12, 2012 - December 31, 2032 1 1,800 acres
TIF 14 was created to help finance public infrastructure
improvements in the area east of Loop 820 surrounding Trinity
Boulevard, including improvements to arterials (Trinity
Boulevard and Precinct Line Road), the Trinity Trails system,
and other eligible projects that help encourage redevelopment
in the Trinity Lakes area as a Transit -Oriented Development.
The Trinity Lakes TIF experienced its fifth consecutive year of
double-digit growth in appraisals in tax year 2023, posting a
growth rate of 19% year -over -year. Growth in appraisals is
being driven in the district by continued development and
upward pricing in single-family homes in the area. However, the
completion of a new THE commuter rail station and
improvements to Trinity Boulevard, have set the stage for future
commercial development anticipated for the area.
F TRINITY
c
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64
TIF 14: Trinity Lakes
November 12, 2012 - December 31, 2032 1 1,800 acres
FY24 Estimated TIF Balance: $6,199,516.27
A total of $21,144,633 has been committed to the
following projects:
• Trinity Boulevard (Debt service reimbursement)
Entities and Levels of Participation:
• City of Fort Worth — 85%
• Contributed $1,698,344.59 this FY
• Tarrant County Hospital District — 0%
• Contributed $0 this FY
• Tarrant County College District — 0%
• Contributed $0 this FY
• Tarrant Regional Water District — 85%
• Contributed $78,005.28 this FY
• Tarrant County — 50%
• Contributed $304,386.19 this FY
Base value of TIF $35,035,971
Current taxable value of TIF $332,144,143
Total increase in taxable value to date $297,108,172
Percent increase in taxable value to date 848.0%
Taxable value after termination $488,202,432
Total projected increase in taxable value $453,166,461
Total revenues produced by termination of TIF $40,842,568
Percent increase in taxable value by termination $1,293.4%
Base value per acre $19,464
Current taxable value of TIF per acre $214,106
Projected taxable value per acre after termination $271,224
Increase in taxable value per acre to date $194,642
Increase in taxable value per acre by termination $251,759
TT
TIF 14: Trinity Lakes (5-YEAR Growth by Land Use)
Land Use
2018 Taxable Value
2024 Taxable Value
July Certified
A
106,790,652
281,687,069
C1
611
397,068
O
64,900
766,857
BC
35,500,000
50,500,000
C1C
7,102,022
3,807,356
C2C
137,962
44,108
D1
9,851
7,923
F1
12,352,268
48,181,127
Total
161,958,266
385,391,508
A
Single-family Residential
C1
Vacant Land Residential
O
Residential Inventory
BC
Multi -family Commercial
C1C
Vacant Land Commercial
C2C
Commercial Land w Improvement Value
DI
Qualified Open Space Land
F1
Commercial
% of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
73.1%
174,896,417
164%
21.4%
0.1%
396,457
64887%
265.2%
0.2%
701,957
1082% I
63.9%
13.1% §
15,000,000
42%
7 3% r
1.0% 1
(3,294,666)
-46%
-11.7%
0.0%
(93,854)
-68%
-20.4%
0.0%
(1,928)
-20%
-4.3%
12.5%
35,828,859
290%
31.3%
100.0%
223,433,242
138%
18.9%
68
TIF 14: Trinity Lakes FY2024 Budget to Actual
Budgeted Actual
FY2024 FY2024
City of Fort Worth:
$
1,471,783.01
$
1,698,344.59
Tarrant County
$
310,169.72
$
304,386.19
Tarrant Regional Water District:
$
63,974.20
$
78,005.28
Subtotal
$
1,845,926.93
$
2,080,736.06
Other Revenue
Interest Generated
R
91
Trinity Boulevard Phase 1 $ 1,324,950.00 $ 2,748,950.00
TIF Administration $ 57,314.00 $ 57,314.00
69
TIF 15: Stockyards/Nofthside
December 2, 2014 - December 31, 2034 1 925 acres
TIF 15 has experienced exceptional growth in recent years,
adding 38% growth in value in tax year 2023 to the prior
year's 20% growth on a year -over -year basis. The success
of improvements to Mule Alley and the Hotel Drover and the
investments made to properties located throughout the
district have brought increased activity and heightened the
prospects for future investment.
Major developments
• The second major phase of development by Fort Worth
Heritage Development was committed to as part of a joint City-
TIF effort to support the project which will lead to an estimated
$630M in overall investment, including the delivery of 300,000
sq.ft. of new commercial space, 500 new hotel rooms, 295
multi -family units and 1,300 spaces in a sub -grade garage.
70
TIF 15: Stockyards/Nofthside
December 2, 2014 - December 31, 2034 1 925 acres
FY24 Estimated TIF Balance: $470,562.12
A total of $37,200,000 has been committed to the
following projects:
• $200,000 for a district drainage study
• $37,000,000 for the reimbursement of the City in
relation to improvements to the Cowtown Coliseum
and the delivery of new below -grade parking garages
Entities and Levels of Participation:
• City of Fort Worth — 50%
• Contributed $1,405,331.20 this FY
• Tarrant County Hospital District — 0%
• Contributed $0 this FY
• Tarrant County College District — 50%
• Contributed $235,872.30 this FY
• Tarrant Regional Water District — 50%
• Contributed $56,256.88 this FY
• Tarrant County — 50%
• Contributed $319,753.39 this FY
Base value of TIF $173,277,642
Current taxable value of TIF $591,220,007
Total increase in taxable value to date $417,942,365
Percent increase in taxable value to date 241.2%
Taxable value after termination $1,205,627,345
Total projected increase in taxable value $1,032,349,703
Total revenues produced by termination of TIF $49,671,101
Percent increase in taxable value by termination 595.8%
Base value per acre $187,327
Current taxable value of TIF per acre $639,157
Projected taxable value per acre after termination $1,303,381
Increase in taxable value per acre to date $451,830
Increase in taxable value per acre by termination $1,116,054
TIF 15: Stockyards / Northside (5-YEAR Growth by Land Use)
Land Use
2018 Taxable Value
2024 Taxable Value
July Certified
A
21,723,274
48,425,800
AC
-
-
B
534,089
1,315,322
C1
500,385
1,811,729
BC
1,515,126
3,491,317
C1C
5,466,569
16,070,965
C2C
3,821,616
8,560,402
F1
165,814,260
500,921,646
F2
22,301,279
34,991,931
J2
600
600
J 3
72,962
58,316
J 5
88,155
76,829
Total
221,838,315
615,724,857
A Single-family Residential
AC Single-family Interim Use
B Multi -family Residential
C1 Vacant Land Residential
% of Total
5-yr Nominal Growth
Total % 5-yr Growth
5-yr CAGR
Taxable Value
Taxable Value
Taxable Value
Taxable Value
7.9% j
26,702,526 0
123% V
17.4%
0.0%
-
-
-
0.2%
781,233
146%
19.8%
0.3%
1,311,344
262% 1
29.3%
0.6% 1
1,976,191
130%
18.2%
2.6% 1
10,604,396 1
194%
24.1%
1.4% 1
4,738,786 I
124%
17.5%
81.4% �
335,107,386
202%
24.7%
5.7% Q
12,690,652 1
57%
9.4%
0.0%
-
0%
0.0%
0.0%
(14,646)
-20%
-4.4%
0.0%
(11,326)
-13°%
-2 7°%
100.0%
393,886,542
178%
22.7%
BC
Multi -family Commercial
C1C
Vacant Land Commercial
C2C
Commercial Land with Improvement Value
F1
Commercial
F2
Industrial
J2
Commercial Utility Gas Companies
J3
Commercial Utility Electric Companies
J5
Commercial Utility Railroads
74
TIF 15: Stockyards FY2024 Budget to Actual
iREVENUE
City of Fort Worth:
Tarrant County:
Tarrant Regional Water District:
Tarrant County College District:
Subtotal
New Isis Theatre Loan
Interest Generated
Ow
CFW Exchange Ave/Mule Alley
TIF Administration
Budgeted
FY2024
1,489,752.00 $
432,771.00 $
59,642.00 $
250,111.00 $
2,232,276.00 $
181,818.00 $
45,102.63 $
3,658,618.00 $
14,432.00 $
Actual
FY2024
1,405,331.20
319,753.39
56,256.88
235,872.30
2,017,213.77
92,906.20
2,844,414.38
14,432.00
75
TIF 16: Veale Ranch
Sept. 12, 2023 — Dec. 31, 2105 1 5,200 acres
The Veale Ranch TIRZ was established to support a
master -planned development of the area,
offsetting or paying a portion of any assessments
levied within the development to achieve a desired
tax rate equivalent for the Veale Ranch PID. It will
also provide incremental funding for public
infrastructure, as well as economic development
incentives in alignment with the City of Fort
Worth's incentives policy.
The Veale Ranch TIRZ is expected to grow
exponentially over the next several years, even
though development is expected to span the next
30 years.
76
TIF 16: Veale Ranch
Sept. 12, 2023 — Dec. 31, 2105 1 5,200 acres
Major developments
• March 2023, PMB Capital and the City of Fort Worth entered into a
Development Agreement for Veale Ranch
• Mutual objective of realizing the envisioned project and
securing funding for specific enhancements
• Development Agreement included the following key provisions:
• Veale would annex into City of Fort Worth in phases
• An overlapping Public Improvement District (PID) and Tax
Increment Reinvestment Zone (TIRZ) would be created on the
entirety of Veale
• Ventana, a 492-acre master -planned community is just one of the
many developments planned for the Veale Ranch
TIRZ. Construction has already been completed in many of the
phases and homes are being sold to homeowners.
• Ventana Improvement Area #5 is expected to issue the first series of
bonds next year for the Veale Ranch PID.
0 September 2023, the City established TIRZ 16
0
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TIF 16: Veale Ranch
Sept. 12, 2023 — Dec. 31, 2105 1 5,200 acres
FY24 Estimated TIF Balance: $0.00
No funds have been committed in relation to any active
agreement for TIF 16 as of the end of FY 2024
Entities and Levels of Participation:
• City of Fort Worth — 65%
• Contributed $0.00 this FY
• Tarrant County — 50%
• Contributed $0.00 this FY
Base value of TIF $2,115,393
Current taxable value of TIF $12,350,239
Total increase in taxable value to date $10,234,846
Percent increase in taxable value to date 583.8%
Taxable value after termination $39,808,758,624
Total projected increase in taxable value $39,806,643,231
Total revenues produced by termination of TIF $1,818,656,218
Percent increase in taxable value by termination 1881861.1 %
Base value per acre $3,475
Current taxable value of TIF per acre $20,290
Projected taxable value per acre after termination $65,401,248
Increase in taxable value per acre to date 583.8%
Increase in taxable value per acre by termination 1881861.1 %
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For more information contact:
Economic Development Department at: 817-392-6021
Or visit our website at:
https://www.fortworthtexas.gov/departments/econdev/tif