Page 149 - Kennedale Budget FY21

TAX INCREMENT REINVESTMENT ZONE (TIRZ) PROJECTS

Tax Increment Financing (TIF) is a tool authorized by Chapter 311 of the Texas Tax Code by which
local governments can publicly finance needed structural improvements and enhanced infrastructure within
a defined area – a Tax Increment Reinvestment Zone (TIRZ) – to encourage desired development.
The tax increment is derived from the difference in appraised value between the year in which the
reinvestment zone is established (base year) and each year the reinvestment zone is in existence.

FUND BUDGET: TIF 1 NEW HOPE ROAD FUND
21 | TIF#1 (NEW HOPE ROAD) FUND
2017–2018 2018–2019 2019–2020 2019–2020 2020–2021
REVENUES
ACTUAL ACTUAL APPROVED PROJECTED APPROVED
21-4401-00-00 INVESTMENT INCOME - 1,370 700 700 700
21-4516-00-00 INTERGOV TARR COUNTY 5,410 14,863 14,863 14,863 24,659
21-4517-00-00 INTERGOV TARR HOSPITAL 3,475 9,849 9,849 9,849 15,767
21-4518-00-00 INTERGOV TARR COLLEGE 2,550 6,819 6,819 6,819 9,145
21-4519-00-00 INTERGOV CITY OF KENNEDALE 20,847 88,287 104,417 104,417 102,462
21-4945-00-00 TRANSFER IN ROADWAY IMPACT 10,000 10,000 10,000 10,000 10,000
TOTAL REVENUES $ 42,282 $ 131,189 $ 146,648 $ 146,648 $ 162,734

2017–2018 2018–2019 2019–2020 2019–2020 2020–2021
EXPENDITURES
ACTUAL ACTUAL APPROVED PROJECTED APPROVED
21-5570-01-00 SPECIAL SERVICES - - - - -
21-5580-01-00 ENGINEERING SERVICES 15,702 - - - -
21-5717-01-00 TRANSFER OUT - STREETS FUND 11,217 - - - -
TOTAL FUND EXPENDITURES $ 26,919 $ - $ - $ - $ -

REVENUES OVER (UNDER) EXPENDITURES $ 15,362 $ 131,189 $ 146,648 $ 146,648 $ 162,734
2017–2018 2018–2019 2019–2020 2019–2020 2020–2021
OTHER FINANCING SOURCES (USES)
ACTUAL ACTUAL APPROVED PROJECTED APPROVED
TRANSFERS IN (OUT) - - - -
TOTAL OTHER FINANCING SOURCES (USES) $ - $ - $ - $ -

NET CHANGE IN FUND BALANCE $ 15,362 $ 131,189 $ 146,648 $ 146,648 $ 162,734
RESTRICTED FUND BALANCE, OCT 1 (802,754) (671,662) (656,862) (540,473) (393,825)
RESTRICTED FUND BALANCE, SEP 30 (787,392) (540,473) (510,214) (393,825) (231,092)

TAXABLE VALUE TAXABLE VALUE
TAX YEAR
(OTHER 3 ENTITIES) (KENNEDALE)
2012 17,700,978 17,655,478
2013 17,808,364 17,763,264
2014 17,662,023 17,616,923
2015 17,584,589 17,584,589
2016 18,627,347 18,627,347
2017 21,296,176 21,296,176
2018 27,678,654 27,765,412
2019 31,894,693 31,789,193
2020 31,706,452 31,596,452

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