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Innovation / Venture Capital Fund
FY 2021 Operating Position

The Innovation / Venture Capital Fund (IVCF) was established in FY 2007 in the General Gas Fund with
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
$2m in Gas Well Revenues. Beginning in FY 2013, the IVCF was made a stand‐alone fund, transferring it
Fund, and transferring in $784k in Parks Performance funds. The Fund’s revenues include Gas Well revenues,
out of the General Gas Fund, and transferring in $784k in Parks Performance funds. The Fund’s
Parks Performance funds, General Fund Property Tax revenues, Arlington Tomorrow Foundation, Convention
revenues include Gas Well revenues, Parks Performance funds, General Fund Property Tax revenues,
Center revenues, entrepreneurial water sales, and funds recaptured from terminated agreements.
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
From FY 2009 through FY 2020, expenditures totaling $83.5m, including $50m for Texas Live!, have been
including, Texas Live!, D.R. Horton headquarters relocation, Arlington Commons multi‐family housing
made in support of various Chapter 380 agreements. Among these are major
redevelopment project, and Arlington Logistics Center –the industrial redevelopment of the former Six Flags mall
development/redevelopment projects including, Texas Live!, D.R. Horton headquarters relocation,
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, he
Arlington Commons multi‐family housing redevelopment project, and Arlington Logistics Center –t
industrial redevelopment of the former Six Flags mall to house automotive manufacturing suppliers to
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.
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, L‐3 Technologies, FielderPlaza Shopping Center, and the AISD Natatorium. Upcoming projects
include Rent the Runway, UPS, and Six Flags Corporate Headquarters.
Beginning Balance: $ 6,962,231

Revenues:
Interest $ 69,622
From Tarrant County ‐ 1/2 of TIRZ 7 Consultant Contract 24,570
Total Revenues $ 94,192
Interfund Transfers:
Parks Gas Fund to support East Lamar development 3,391,953
General Fund transfer ‐ Ballpark Lease Settlement 727,500
General Fund transfer ‐ Property Tax Rebates 969,200
Total Interfund Transfers $ 5,088,653

Obligations:
East Lamar development $ 3,541,527
Vought Ch 380 Agrmt 90,000
L‐3 121,000
Williams Sonoma Ch 380 Agrmt 69,100
Summit Racing 160,000
GM Financial 37,000
General Motors ‐ Arlington Logistics Center 96,100
UPS 426,000
Rent the Runway 55,000
CSI Calendaring 5,000
Southwest Restaurant Equipment ‐ Public Improvements 164,313
Fielder Plaza Shopping Center 400,000
AISD Natatorium 400,000
Six Flags Ch.380 Agrmt ‐ Reimbursement for Project Costs 6,000,000
Six Flags Ch. 380 Agrmt ‐ Annual Grant 200,000
TIRZ 7 Creation, Project & Finance Plan Funding 49,140
Total Expenditures: $ 11,814,180

Ending Balance: $ 330,896

Future Obligations (FY 2022 ‐ FY 2037): $ 9,120,312
2021 Adopted Budget and Business Plan 261 City of Arlington, Texas