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Other Budget Information                                             Return to Table of Contents
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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
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