Page 270 - FY 2025 Adopted Operating Budget and Business Plan

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Innovation / Venture Capital Fund
FY 2025 Operating Position

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 transferring in $784k in Parks Performance funds. The Fund’s
revenues include Gas Well revenues, Parks Performance funds, Property Tax revenues, Arlington
Tomorrow Foundation, Convention Center revenues, Water sales, funds recaptured from terminated
agreements, and Water Utilities Development Cost Sharing.

From FY 2009 through FY 2024, expenditures totaling $147m, including $50m for Texas Live!, have been
made in support of various Chapter 380 agreements, interlocal agreements and contracts. Among these
are major development/redevelopment projects including, D.R. Horton headquarters relocation,
Arlington Commons multi-family housing redevelopment project, Six Flags world headquarters, AISD
Natatorium, Park Place student housing redevelopment project, Lincoln Square redevelopment, Spark
Arlington and other developments in the Entertainment District. Additionally, IVCF expenditures
continue to fund projects that spur economic development in the City such as, Summit Racing, CAE
(formerly L-3 Technologies), General Motors-Arlington Logistics Center, Caravan Hotel redevelopment,
and UPS. Upcoming projects include entertainment district improvements, Arlington Commons, and
other economic development projects.

Beginning Balance: $ 14,094,775

Revenues:
Interest $ 634,265
Property Tax Revenue - Ch 380 Agreements 1,077,000
Lease Revenues from Nanoscope Technologies 2,876
Lease Revenues from Levitt Pavilion Ch. 380 Loan 52,151
Total Revenues $ 1,766,292

Interfund Transfers:
Water Utilities Development Cost Sharing $ 3,873,875
Total Interfund Transfers $ 3,873,875

Obligations:
AISD - Natatorium interlocal agrmt 100,000
Autosales / Summit Racing 161,000
CAE (formerly L-3) - Property Tax Grant + Hiring Grant 111,000
ContiTech (formerly CSI Calendaring) 5,000
General Motors - Arlington Logistics Center - BPP rebate 50,000
Kroger . Lamar . Cooper property purchase 1,000,000
PHC Equities (PHC Casters) 48,000
Valencia Hotel Group . Caravan Motel redevelopment 1,500,000
Rangers Choctaw Stadium - Parking Lot and Road Improvements 800,000
Rangers Choctaw Stadium - Public Safety Space 400,000
Rent the Runway 41,000
Six Flags Corporation 200,000
Sutton Frost Cary 61,000
UPS 500,000
Wallbox 161,000
Western Athletic Conference 132,000
Arlington Commons Lands (Master III.J) Agrmt 3 1,178,251
Total Expenditures: $ 6,448,251

Ending Balance: $ 13,286,691
FY 2025 Adopted Budget and Business Plan 261 City of Arlington, Texas