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Innovation / Venture Capital Fund
FY 2022 Operating Position
The Innovation / Venture Capital Fund (IVCF) was established in FY 2007 in the General Gas Fund with $2m in
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
Gas Well Revenues. Beginning in FY 2013, the IVCF was made a stand‐alone fund, transferring it out of the
transferring in $784k in Parks Performance funds. The Fund’s revenues include Gas Well revenues, Parks Performance
General Gas Fund, and transferring in $784k in Parks Performance funds. The Fund’s revenues include Gas Well
funds, General Fund Property Tax revenues, Arlington Tomorrow Foundation, Convention Center revenues,
revenues, Parks Performance funds, Property Tax revenues, Arlington Tomorrow Foundation, Convention
entrepreneurial water sales, and funds recaptured from terminated agreements.
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
From FY 2009 through FY 2021, expenditures totaling $106.2m, including $50m for Texas Live!, have been
of various Chapter 380 agreements. Among these are major development/redevelopment projects including, Texas Live!,
made in support of various Chapter 380 agreements, interlocal agreements, and other contracts. Among these
D.R. Horton headquarters relocation, Arlington Commons multi‐family housing redevelopment project, and Arlington
are major development/redevelopment projects including, Texas Live!, D.R. Horton headquarters relocation,
Logistics Center –the industrial redevelopment of the former Six Flags mall to house automotive manufacturing suppliers
Arlington Commons multi‐family housing redevelopment project, Six Flags world headquarters, AISD
to serve the General Motors Assembly Plant. Additionally, IVCF expenditures continue to fund projects that spur economic
Natatorium, Park Place student housing redevelopment project, and General Motors' Arlington Logistics Center
development in the City such as, Summit Racing, Williams Sonoma, Vought, GM Financial, Straumann Manufacturing, and
–the industrial redevelopment of the former Six Flags mall to house suppliers to the General Motors Assembly
L‐3 Technologies. Upcoming projects include the AISD Natatorium, Fielder Plaza Shopping Center, Rent the Runway, and
UPS.
Plant. Additionally, IVCF expenditures continue to fund projects that spur economic development in the City
such as, Summit Racing, Williams Sonoma, GM Financial, L‐3 Technologies, and UPS. Upcoming projects include
Rent the Runway, Prologis (Arlington Matlock Partners), and exciting new developments in the Entertainment
District.
Beginning Balance: $ 16,004,775
Revenues:
Interest $ 160,048
Property Tax Revenue ‐ Ch 380 Agreements 882,000
From Tarrant County ‐ 1/2 of TIRZ 7 Consultant Contract 24,750
Total Revenues $ 1,066,798
Interfund Transfers:
Parks Gas Fund to support East Lamar development $ 300,000
Total Interfund Transfers $ 300,000
Obligations:
East Lamar development $ 3,160,394
L‐3 118,500
Williams Sonoma 63,500
Summit Racing 151,000
GM Financial 37,000
General Motors ‐ Arlington Logistics Center 60,000
UPS 399,000
Rent the Runway 48,000
CSI Calendaring 5,000
Southwest Restaurant Equipment ‐ Public Improvements 164,313
AISD Natatorium ‐ Annual Maintenance & Use Payment 100,000
Six Flags Ch. 380 ‐ Annual Grant 200,000
Entertainment District ‐ Phase 1 Project ‐ Residential & Co‐Working 4,493,841
TIRZ 7 ‐ Professional Services Agreement 9,423
Park 7 150,000
Prologis ‐ Arlington Matlock Partners 1,319,399
Total Expenditures: $ 10,479,370
Ending Balance: $ 6,892,202
Future Obligations (FY 2023 ‐ FY 2037): $ 18,280,948
FY 2022 Adopted Budget and Business Plan 279 City of Arlington, Texas