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Special Revenue Fund

Economic Incentives

FUND SUMMARY

FY2021 FY2022 FY2022 FY2023 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 1,049,387 - - - - 0.00%
Special Assesments - - - - - 0.00%
Other - - - - - 0.00%
Transfer In - 2,000,000 2,000,000 2,000,000 - 0.00%
Use of Fund Balance - - - - - 0.00%
Revenue $ 1,049,387 $ 2,000,000 $ 2,000,000 $ 2,000,000 $ - 0.00%

Salaries & Benefits - - - - - 0.00%
Gen Operating & Maintenance - 2,000,000 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 $ - $ 2,000,000 $ 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 available as an incentive tool for all industries, but strong consideration will be
given to applicants that drive the majority of its revenues from the Target Sectors outlined in Section 4, 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 the 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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