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Special Revenue Fund

Economic Incentives

FUND SUMMARY

FY2020 FY2021 FY2021 FY2022 Change from Adopted

Final Adopted Adjusted Adopted Amount %
Property Tax - - - - - 0.00%
Sales Tax - - - - - 0.00%
Other Tax - - - - - 0.00%
License & Permits - - - - - 0.00%
Intergovernmental - - - - - 0.00%
Charge for Service - - - - - 0.00%
Fines & Forfeitures - - - - - 0.00%
Use of Money & Property 74,562 - 1,000,000 - - 0.00%
Special Assesments - - - - - 0.00%
Other - - - - - 0.00%
Transfer In - - - 2,000,000 2,000,000 0.00%
Use of Fund Balance - - - - - 0.00%
Revenue $ 74,562 $ - $ 1,000,000 $ 2,000,000 $2,000,000 0.00%

Salaries & Benefits - - - - - 0.00%
Gen Operating & Maintenance - - 1,000,000 2,000,000 2,000,000 0.00%
Capital Accts - - - - - 0.00%
Debt Service Accts - - - - - 0.00%
Transfer Out & Other - - - - - 0.00%
Contra Accounts - - - - - 0.00%
Project Budget Account - - - - - 0.00%
Expenses $ - $ - $ 1,000,000 $ 2,000,000 $2,000,000 0.00%

DEPARTMENT PURPOSE AND GOALS

The Economic Incentives Fund was started with an initial deposit of $4,575,896.00, which was transferred to the
City from the LDC following the sale by the LDC of the 250 Lancaster project and the second deposit of $400,000.00
also from the LDC from 250 Lancaster sales proceeds. On May 18, 2021, the LDC adopted a resolution authorizing
the transfer of a portion of net proceeds from the Blue Mound Road Complex sale in the amount of $1,000,000.00
to the City of Fort Worth to provide additional funding to the Economic Incentives Fund.

The Economic Incentives Fund is utilized to support projects that meet eligibility under Section 9, Technology
Company Projects, and Section 14, Employment Designated Project Fund, in the Economic Development Program
Policy for Grants Authorized by Chapter 380, as approved by City Council. Per the adopted Chapter 380 Incentive
policy, the City may have cash reserves designated to incentivize businesses that commit to increasing
employment levels at salary levels desired by the City. These cash reserves will be utilized to make cash grants,
either upfront or following attainment of certain performance metrics, or loans. Existing Businesses will only be
eligible for 380 Grants under this Section if the City is able to verify that they are receiving competing offers to
relocate their operations outside of the City.

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