Page 226 - Fort Worth City Budget 2019

Tax Increment Reinvestment Zone Fund

TIF #3A – Downtown

FUND SUMMARY

Change from FY2018
FY2017 FY2018 FY2018 FY2019 Adopted
Final Adopted Adjusted Adopted Amount %
Property Tax 732,097 638,992 638,992 712,264 73,272 10.29%
Intergovernmental 356,801 297,950 297,950 328,722 30,772 9.36%
Use of Money & Property 24,508 8,865 8,865 9,442 577 6.11%
Use of Fund Balance - 964,605 964,605 3,375,137 2,410,532 71.42%
Revenue $ 1,113,407 $ 1,910,412 $ 1,910,412 $ 4,425,565 $ 2,515,153 56.83%

Gen Operating & Maintenance 1,292,821 1,910,412 1,910,412 4,425,565 2,515,153 56.83%
Transfer Out & Other - - - - - 0.00%
Expenses $ 1,292,821 $ 1,910,412 $ 1,910,412 $ 4,425,565 $ 2,515,153 56.83%

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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