Page 283 - CityofKellerFY25Budget

TAX INCREMENT REINVESTMENT ZONE #2 FUND

FUND DESCRIPTION:
The Tax Increment Reinvestment Zone (TIRZ) #2 Fund accounts for the accumulation of resources for the reinvestment zone
created along US 377 from Wall-Price Keller to Westport Parkway. The TIRZ #2 District was created by Council in March
2021 and is an assessment of 50% of incremental values for the properties in the district. In addition, the TIRZ includes
partnerships with Tarrant County and Tarrant County College at a 50% increment. TIRZ assessments of the city are paid into
the fund from each of the participating entities.

REVENUE SUMMARY

FY 2024-25
FY 2022-23 FY 2023-24 FY 2023-24 Adopted Budget
REVENUES Actual Budget YE Proj. Budget Variance ($)

Revenue-Tif Taxes/City $ 27,829 $ 154,110 $ 140,581 $ 195,683 $ 41,573

Revenue-Tif Taxes/Tarrant Co 17,572 98,753 95,996 138,446 39,693

Revenue-Tif Taxes/Tccd 10,211 57,763 55,724 80,207 22,444

Interest Revenue-Investments – – 2,496 1,500 1,500

TOTAL $ 55,613 $ 310,626 $ 294,797 $ 415,836 $ 105,210

EXPENDITURE SUMMARY

FY 2024-25
FY 2022-23 FY 2023-24 FY 2023-24 Adopted Budget
EXPENDITURES BY CATEGORY: Actual Budget YE Proj. Budget Variance ($)

Personnel services $ – $ – $ – $ – $ –

Operations & maintenance – – – – –

Services & other – – – – –

Debt service – – – – –

Transfers to other funds – – – – –

Capital outlay – – – – –

TOTAL $ – $ – $ – $ – $ –

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