Page 223 - Fort Worth City Budget 2019

Tax Increment Reinvestment Zone Fund

TIF #2A – Speedway

FUND SUMMARY

Change from FY2018
FY2017 FY2018 FY2018 FY2019 Adopted
Final Adopted Adjusted Adopted Amount %
Property Tax - - - - - 0.00%
Intergovernmental 561,377 558,015 558,015 612,378 54,363 8.88%
Use of Money & Property 6,166 1,689 1,689 3,085 1,396 45.25%
Use of Fund Balance - 337,752 337,752 1,236,054 898,302 72.67%
Revenue $ 567,544 $ 897,456 $ 897,456 $ 1,851,517 $ 954,061 51.53%

Gen Operating & Maintenance 601,038 897,456 897,456 1,851,517 954,061 51.53%
Transfer Out & Other - - - - - 0.00%
Expenses $ 601,038 $ 897,456 $ 897,456 $ 1,851,517 $ 954,061 51.53%

FUND PURPOSE AND GOALS

Tax Increment Financing District (TIF) #2A Speedway, was created in December 1995 as a means to purchase the
Texas Motor Speedway (TMS) and finance needed public improvements within the TIF boundary which included
568 acres. The end of term is 2025. The TIF was expanded in August 1999 and included 921 acres. The expansion
came at the request of property owners including the Northwest Independent School District, to provide for the
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. (Please see TIF #2B).
TIF 2A & 2B financials are accounted for separately by Tarrant Appraisal District (TAD). When the TIF boundary
was expanded, the expansion area had a different base year than the original TIF; therefore, the increment
amounts must be calculated separately; however, they are one legal entity.

Projects Include: Purchase of Texas Motor Speedway as public improvement by the Sports Authority; public
improvements within the TIF district; construction, renovation and operation of educational facilities located
within the Northwest ISD tract and future infrastructure improvements to promote private development
throughout the area.

Project and Financing Plan last amended October 29, 2002.

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