Page 24 - City of Colleyville FY22 Adopted Budget

Overlapping taxing entities, including Tarrant County College District and the
Grapevine-Colleyville Independent School District participate at varying levels in the
district by assigning their ad valorem tax dollars. Tarrant County and the Tarrant
County Hospital District are no longer participating in contributing to the TIF as their
commitment level has already been met. In November 2012, the TIF was amended
to expand boundaries to include mostly additional vacant, underutilized land and
some commercial property. The additional area added is called TIF #1A, as compared
to the original area that is called TIF #1, and had a base value of $30,796,078.

The total taxable value includes TIF zone property, which has a combined taxable
value increment of $439,107,273 (TIF Zone #1 adopted in 1998- $422,931,176 and
TIF Zone #1A adopted in 2012- $16,176,097). The final TIF value is subject to
change, as valuation is still under appeal. This represents a decrease of $11,854,488
(2.6%) from the current year TIF valuation of $450,961,761.

Colleyville Crime Control and Prevention District (CCCPD)
The primary goal of the district is to fund public safety and crime control activities
throughout the city. The district was created by voter approval in 1999, with oversight
of funds assigned to the board of directors, composed of the City Council. State law
provides that a district’s life is limited to five years, unless voters continue the district
by approval of a referendum. In September 2003, Colleyville voters approved
continuation of the district for an additional 20 years.

Expected revenue from the 0.5 percent special purpose sales tax, use of funds
generated from prior years’ coverage ratio, and related interest income for the CCCPD
budget is $2,001,200. The budget provides funding for compensation for 13 police
officers, 2 part-time public safety officers, 1 part-time accreditation coordinator,
vehicle replacements, various minor capital items, specialized training, weapons
replacement, and CALEA accreditations, with total expenditures of $2,179,605 for
fiscal year 2021. Staff anticipates this fund utilizing $178,000 in balance for non-
recurring costs.

Colleyville Economic Development Corporation (CEDC)
Authority for the corporation is provided by state statute as a 4B corporation. The
0.5 percent sales and use tax approved by the voters in August 1996 has been an
important resource in our Capital Improvement Program for community-related
facilities. This fund accounts for the use of bond proceeds and sales tax revenues for
municipal park improvements, the purchase of land and equipment for additional
parks, and for the construction of a community center and library. Consistent with
state law, some funds may be allocated by the board of directors for promotional
efforts for special events and marketing.

Expected revenue from the special purpose sales tax and related interest income for
the fiscal year 2022 is $2,385,000. The CEDC Board meets in August to approve the
budget. Funding provided by this special sales tax has been allocated to community-
enhancement initiatives consistent with the authorization of the corporation.

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