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Other Budget Information

Innovation / Venture Capital Fund
FY 2020 Operating Position

The Innovation / Venture Capital Fund (IVCF) was established in FY 2007 in the General Gas Fund with $2m in
Gas Well Revenues. Beginning in FY 2013, the IVCF was made a stand‐alone fund, transferring it out of the
General Gas Fund, and transferring in $784k in Parks Performance funds. The Fund’s revenues include Gas
Well revenues, Parks Performance funds, General Fund Property Tax revenues, Arlington Tomorrow
Foundation, Convention Center revenues, entrepreneurial water sales, and funds recaptured from
terminated agreements.

From FY 2009 through FY 2019, expenditures totaling $78.8m, including $50m for Texas Live!, have been
made in support of various Chapter 380 agreements. Among these are major development/redevelopment
projects including, Texas Live!, D.R. Horton headquarters relocation, Arlington Commons multi‐family
housing redevelopment project, and Arlington Logistics Center – the industrial redevelopment of the former
Six Flags mall to house automotive manufacturing suppliers to serve the General Motors Assembly Plant.
Additionally, IVCF expenditures continue to fund projects that spur economic development in the City such
as, Summit Racing, Williams Sonoma, Vought, GM Financial, Straumann Manufacturing, and L‐3
Technologies. Upcoming projects include the AISD Natatorium, Fielder Plaza Shopping Center, Rent the
Runway, and UPS.

Beginning Balance: $ 2,854,103
Revenues:
From Convention Center Operating Revenues $ 1,000,000
Interest 28,541
From Tarrant County ‐ 1/2 of TIRZ 7 Consultant Contract 24,570
Total Revenues $ 1,053,111
Interfund Transfers:
Parks Gas Fund to support East Lamar development 3,091,953
General Gas Fund to support East Lamar Development 300,000
General Fund transfer ‐ Ballpark Lease and Settlement, FY 2019 and 2020 4,205,000
General Fund transfer ‐ Property Tax Rebates 641,000
Total Interfund Transfers $ 8,237,953

Expenditures:
East Lamar development $ 3,391,953
Vought Ch 380 Agrmt 90,000
L‐3 105,000
Williams Sonoma Ch 380 Agrmt 69,000
Summit Racing 174,000
GM Financial 33,000
General Motors ‐ Arlington Logistics Center 95,000
Texas Live! Property Tax Rebate 105,000
Live by Loews ‐ Property Tax Rebate 60,000
Southwest Restaurant Equipment ‐ Public Improvements 164,313
Fielder Plaza Shopping Center 400,000
Columbia Medical Center of Arlington ‐ Hiring Grant 25,000
AISD Natatorium 333,333
Development Initiatives 4,205,000
TIRZ 7 Creation, Project & Finance Plan Funding 49,140
Total Expenditures: $ 9,299,739

Ending Balance: $ 2,845,428
Future Obligations (FY 2021 ‐ FY 2037): $ 10,122,736

2020 Adopted Budget and Business Plan 242 City of Arlington, Texas