Page 225 - Fort Worth City Budget 2019

Tax Increment Reinvestment Zone Fund

TIF #3 – Downtown

FUND SUMMARY

Change from FY2018
FY2017 FY2018 FY2018 FY2019 Adopted
Final Adopted Adjusted Adopted Amount %
Property Tax 2,710,277 2,781,187 2,781,187 2,718,405 (62,782) -2.31%
Intergovernmental 1,196,193 1,281,872 1,281,872 1,240,607 (41,265) -3.33%
Use of Money & Property 33,603 38,381 38,381 35,909 (2,472) -6.88%
Use of Fund Balance - 4,182,943 4,182,943 6,805,578 2,622,635 38.54%
Revenue $ 3,940,073 $ 8,284,383 $ 8,284,383 $ 10,800,499 $ 2,516,116 23.30%

Gen Operating & Maintenance 267,112 8,284,383 8,284,383 10,800,499 2,516,116 23.30%
Transfer Out & Other - - - - - 0.00%
Expenses $ 267,112 $ 8,284,383 $ 8,284,383 $ 10,800,499 $ 2,516,116 23.30%

FUND PURPOSE AND GOALS

Tax Increment Financing District (TIF) #3 Downtown was created in December 1995 to promote the
redevelopment of downtown Fort Worth, it included 279 acres and the term will end in 2025. In 2006 an expansion
to the boundaries was done so that it would include all lots within a proposed major project, Trinity Bluff Phase I.
This expansion included a total of 128 acres. (Please see TIF #3A).

TIF 3 & 3A financials are accounted for separately by Tarrant Appraisal District (TAD). When the TIF boundary was
expanded in 2006, 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: historic preservation through façade leases (for example, Ashton Hotel, Jett Land and Title),
environmental remediation (for example, the Tower), utility relocation and removal (for example, the Marriott
Hotel site), streetscape improvements to create a pedestrian friendly environment (for example, Cassidy Corner,
Trinity Bluff), Santa Fe Freight House operations. Sundance Square plaza, parking garage leases, affordable
housing (including Hunter Plaza), residential density and parking incentives, infrastructure and transportation
improvements to ease transit accessibility, retail façade matching grants, school support, signage and
administration.

Project and Financing Plan last amended March 3, 2015.

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