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Item 02 - Tax Increment Reinvestment Zone Number One
MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER 0 - MEETING DATE: DECEMBER 15, 2015 SUBJECT: AMENDMENTS TO TAX INCREMENT REINVESTMENT ZONE NUMBER ONE RECOMMENDATION: City Council to conduct a public hearing and consider an ordinance expanding the boundaries and extending the term of Tax Increment Reinvestment Zone Number One. FUNDING SOURCE: This action will have no material effect on City funds. BACKGROUND: Tax Increment Reinvestment Zone Number One was established in 1996 pursuant to Chapter 311 of the Texas Tax Code. The attached ordinance will expand the term of the zone and boundaries to capture the tax increment above an established baseline for the purpose of providing a funding mechanism for items such as: water facility improvements; sanitary sewer improvements; storm water facility improvements; street and intersection improvements; open space, park and recreation facility improvements; economic grants; administrative costs; and parking facility improvements within the zone. If approved, the term of the zone will be extended for an additional 20 years and expire on December 31, 2038. Additionally, the boundary will be extended to incorporate an additional 419 acres to the existing 242 acres for a total boundary of 661 acres. The City of Grapevine will be the only taxing jurisdiction participating term and boundary extension; no other taxing jurisdictions will be impacted. Staff recommends approval GJ ORDINANCE NO. AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS, CONCERNING TAX INCREMENT REINVESTMENT ZONE NUMBER ONE, CITY OF GRAPEVINE, TEXAS, ESTABLISHED PURSUANT TO CHAPTER 311 OF THE TEXAS TAX CODE, BY EXPANDING THE BOUNDARIES OF TAX INCREMENT FINANCING REINVESTMENT ZONE NUMBER ONE, CITY OF GRAPEVINE, TEXAS; AND EXTENDING THE TERM OF TAX INCREMENT REINVESTMENT ZONE NUMBER ONE, CITY OF GRAPEVINE, TEXAS; REPEALING CONFLICTING ORDINANCES; PROVIDING A PENALTY; PROVIDING A SEVERABILITY CLAUSE; DECLARING AN EMERGENCY AND PROVIDING AN EFFECTIVE DATE. -' IF WHEREAS, on February 20, 1996, the City Council of the City of Grapevine, Texas, pursuant to Chapter 311 of the Texas Tax Code, approved Ordinance No. 1996- 007, designating a contiguous geographic area within the City as a Reinvestment Zone Number One, City of Grapevine, Texas (the "Zone"); and WHEREAS, the City Council of the City of Grapevine, Texas, now desires to amend Reinvestment Zone Number One, City of Grapevine, Texas, to add approximately 419 acres of land to the existing approximately 242 -acre Reinvestment Zone Number One; and WHEREAS, upon approval of this ordinance, Reinvestment Zone Number One, City of Grapevine, Texas, will consist of approximately 661 acres of non-contiguous land, as described and depicted in Exhibit "A" of this ordinance, a copy of which is attached hereto and is incorporated herein for all purposes; and WHEREAS, Section 311.003(c) of the Texas Tax Code provides that the City of Grapevine, Texas, "[n]ot later than the seventh day before the date of the hearing, notice of the hearing must be published in a newspaper having general circulation in the municipality or county;" and WHEREAS, Section 311.011(e) of the Texas Tax Code, in pertinent part provides, "[i]f an amendment reduces or increases the geographic area of the zone, increases the amount of bonded indebtedness to be incurred, increases or decreases the percentage of a tax increment to be contributed by a taxing unit, increases the total estimated project costs, or designates additional property in the zone to be acquired by the municipality or county, the approval must be by ordinance or order, as applicable, adopted after a public hearing that satisfies the procedural requirements of Sections 311.003(c) and (d);" and WHEREAS, in accordance with Section 311.007 of the Texas Tax Code, the term of a tax increment financing zone may be extended after publication and a public hearing, both of which conditions have been met in this circumstance; and WHEREAS, the City Council of the City of Grapevine, Texas, pursuant to Sections 311.003, 311.007, and 311.011 of the Texas Tax Code, approved this Ordinance after a public hearing, and publication of notice of the public hearing in a newspaper of general circulation of the City, all in accordance with Chapter 311 of the Texas Tax Code, and find that the boundaries of said reinvestment zone do not violate the limitations contained in Section 311.006(a) of the Texas Tax Code. WHEREAS, the City Council of the City of Grapevine deems the passage of this ordinance as necessary to protect the public, health, safety, and welfare; and WHEREAS, the City Council is authorized by law to adopt the provisions contained herein, and has complied with all the prerequisites necessary for the passage of this Ordinance, including but not limited to the Open Meetings Act. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS: Section 1. That all matters stated hereinabove are incorporated herein by reference as if copied in their entirety. Section 2. The boundaries of the Zone are amended to include approximately 419 acres in addition to the original 242 -acre Zone, which are described and depicted in Exhibit "A". Section 3. City Council hereby authorizes the extension of the Zone termination date to December 31, 2038, unless otherwise terminated earlier as a result of payment in full of all project costs approved in the Project and Financing Plan, or as authorized or permitted by law. Section 4. The Zone will continue to capture tax value increment within the Zone at the City's current participation rate of 100% for an additional 21 years until December 31, 2038. The tax increment collected within the Zone will be used to fund public improvements within the TIRZ as described in any amended Project and Financing Plan approved by City Council. Section 5. The Tax Increment Base for the TIRZ is the total appraised value of all real property taxable by the City and located in the TIRZ, determined as of January 1, 1996, when the TIRZ was designated, and for those parcels added to the TIRZ with the December 15, 2015, boundary amendment, the appraised value is to be determined as of January 1, 2015. ORD. NO. 2 Section 6. City staff is authorized to amend the Project and Financing Plan allowing for the term extension and boundary amendments as provided for and approved herein. Section 7. Pursuant to Section 311.012(c) of the Texas Tax Code, as amended, the tax increment base of the City, and any other taxing unit participating in the Zone is the total appraised value of all real property taxable by the City or other taxing unit participating in the Zone and located in the Zone, as defined by Section 311.0123 (b) of the Texas Tax Code, determined as of the year in which the Zone was designated as a reinvestment zone (the "Tax Increment Base"). The Tax Increment Base for the property included in the original boundary of the Zone remains the appraised value of all real property within the Zone, taxable by the City as of January 1, 1996. The Tax Increment Base is then increased by the taxable value as of January 1, 2015, of the parcels added to the Zone per the December 15, 2015, boundary amendment. Consistent with Section 311.012(a) of the Texas Tax Code, as amended, the amount of the Tax Increment for a year is one -hundred percent (100%) of property taxes levied and collected by the City and all or a portion of property taxes of other taxing units participating in the Zone and located in the Zone (as set forth in an agreement to participate in the Zone) for that year on the Captured Appraised Value of real property taxable by City or other taxing unit participating in the Zone and located in the Zone (the "Tax Increment"). Consistent with Section 311.012(b) of the Texas Tax Code, as amended, the Captured Appraised Value of real property taxable by City or other taxing unit participating in the Zone for a year is the total appraised value of all real property taxable by the unit and located in the Zone for that year less the Tax Increment Base (the "Captured Appraised Value"). Section 8. That the following miscellaneous provisions are adopted as a part of this ordinance: (a) Ordinance No. 1996-007 shall continue in full force and effect except as provided herein. (b) It is hereby declared to be the intention of the City Council that the phrases, clauses, sentences, paragraphs and sections of this ordinance are severable, and if any phrase, clause, sentence, paragraph or section of this ordinance shall be declared unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs and sections of thiso, since the same would have been enacted by the City Council without the incorporation of this ordinance of any such unconstitutional phrase, clause, sentence, paragraph or section. (c) This ordinance shall become effective immediately upon its passage. Section 9. If any section, article, paragraph, sentence, clause, phrase or word in this ordinance, or application thereto any person or circumstance is held invalid or unconstitutional by a Court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of this ordinance; and the City Council hereby declares it would have passed such remaining portions of the ordinance despite such invalidity, which remaining portions shall remain in full force and effect. Section 10. The fact that the present ordinances and regulations of the City of Grapevine, Texas are inadequate to properly safeguard the health, safety, morals, peace and general welfare of the public creates an emergency which requires that this ordinance become effective from and after the date of its passage, and it is accordingly so ordained. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS, on this the 15th day of December 2015. APPROVED: ATTEST: APPROVED AS TO FORM: ORD. NO. 4 Tract A Beginning at the point of intersection of the southern Right -of -Way (ROW) line of Lakeside Parkway and the eastern property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685, thence Southeast along the southern ROW line of Lakeside Parkway to a point where said line intersects with the eastern property line of B B B & C RR ABST 1772 PG 430 TR 13.1 ACS 1.6390, thence South along the eastern property line B B B & C RR ABST 1772 PG 430 TR 13.1 ACS 1.6390 to a point where said line intersects with the southern property line of B B B & C RR ABST 1772 PG 430 TR 13.1 ACS 1.6390, thence East along the projection of the southern property line of B B B & C RR ABST 1772 PG 430 TR 13.1 ACS 1.6390 to a point where projection of said line intersects with the eastern property line of T W COUSY ABST 317 PG 430 TR 2 ACS 25.6793 HIGHPOINT PARK, thence South along the eastern property line of T W COUSY ABST 317 PG 430 TR 2 ACS 25.6793 HIGHPOINT PARK to a point where said line intersects with the eastern property line of J E HOLLAND ABST 0614 PG 210 TR 1 ACS 60.2055 AC, thence South along the eastern property line of J E HOLLAND ABST 0614 PG 210 TR 1 ACS 60.2055 AC to a point where the projection of said line intersects with the southern ROW line of TX -121 South, thence Southwest along the southern ROW line of TX -121 SOUTH to a point where said line intersects with the eastern ROW line of FM -2499 North, thence North along the eastern ROW line of FM -2499 North to a point where said line intersects with the southern ROW line of Stars and Stripes Way, thence Southwest along the southern ROW line of Stars and Stripes Way to a point where said line intersects with the southern ROW line of East Grapevine Mills Drive, thence West along the southern ROW line of East Grapevine Mills Drive to a point where the projection of said line intersects with the western ROW line of Grapevine Mills Boulevard North, thence Northeast along the western ROW line of Grapevine Mills Boulevard North to a point where said line intersects with the western ROW line of FM -2499 South, thence North along the western ROW line of FM -2499 South to a point where said line intersects with the projection of the southern property line of RIVERWALK ADDITION Block 1A Lot 1A1, thence East along the projection of the southern property line of RIVERWALK ADDITION Block 1A Lot 1A1 to a point where said line intersects with the eastern property line of RIVERWALK ADDITION Block 1A Lot 1A1, thence North along the eastern property line of RIVERWALK ADDITION Block 1A Lot 1A1 to a point where said line intersects with the northern property line of BAKER, JAMES M SURVEY Abstract 167 Tract 1, thence East along the northern property line of BAKER, JAMES M SURVEY Abstract 167 Tract 1 to a point where the projection of said line intersects with the western property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685, thence North along the western property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685 to a point where said line intersects with the northern property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685, thence East along the northern property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685 to a point where said line intersects with the southern ROW line of Lakeside Parkway, which is the point of beginning. Beginning Point: Southern ROW Line of Lakeside Parkway and Eastern .�� Property Line of JAMES M BAKER ASST 1691 PG 410 TR 1 ACS 26.2685 F.11 i4,y Ffi,�-7 Q9S h Western ROW Line Y of FM 2499 South Southern ROW line of East Grapevine Mills Drive J C � 2i Ms MaY C s y tern property line of HOLLAND ASST 0614 210 TR 1 ACS 60.2055 AC W Sandy Lake Rd Southern ROW line Of TX -121 South U � C v > 1 . � I N h� :Ilr 1 c iS�v d 0 R ww�Wagon . Tract B Beginning at the point of intersection of the western Right -of -Way (ROW) line of Anderson Gibson Road and the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E, thence West along the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E to a point where said line intersects with the eastern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E, thence North along the eastern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E to a point where said line intersects with the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E, thence West along the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E to a point where said line intersects with the eastern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B, thence North along the eastern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B to a point where said line intersects with the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B, thence West along the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B to a point where said line intersects with the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B, thence South along the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B to a point where said line intersects with the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B, thence East along the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B to a point where said line intersects with the western property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E, thence South along the western property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E to a point where said line intersects with the western ROW line of Anderson Gibson Road, thence North along the western ROW line of Anderson Gibson Road to a point where said line intersects with the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E, which is the point of the beginning. Northem property line of SUGGS, HENRY SURVEYAb- stract 1415 Tract 1E Westem property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 2G Tract SB r Beginning point: Western ROW lineof Anderson Gibson Road and the northern property line of5UGGS, HENRY SURVEY Abstract 1415 Tract 1E Tract C Beginning at the point of intersection of the northern Right -of -Way (ROW) line of TX -26 W and the northern property line of BLUFFS AT GRAPEVINE ADDN, THE Block 1 Lot 1A, thence West along the northern property line of BLUFFS AT GRAPEVINE ADDN, THE Block 1 Lot 1A to a point where said line intersects with the eastern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5, thence North along the eastern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5 to a point where said line intersects with the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5, thence West along the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5 to a point where said line intersects with the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5, thence South along the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5 to a point where the projection of said line intersects with the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A, thence Southwest along the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A to a point where said line intersects with the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A, thence South along the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A to a point where said line intersects with the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A, thence East along the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A to a point where the projection of said line intersects with the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5, thence East along the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5 to a point where said line intersects with the southern property line of BLUFFS AT GRAPEVINE ADDN, THE Block 1 Lot 1A, thence Southeast along the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A to a point where said line intersects with the northern ROW line of TX -26 W, thence Northeast along the northern ROW line of TX -26 W to a point where said line intersects with the northern property line of BLUFFS AT GRAPEVINE ADDN, THE Block 1 Lot 1A, which is the point of the beginning. Western property line of ANDERSON, ANDRIVEEWj6A SURVEY Abstract 26 Trac Beginning point: Northern ROW line of T%-26 W and the northern property line of BWFFS AT GRAPEVINE ADDN, THE Block 1 Lot lA Tract D Beginning at the point of intersection of the eastern Right -of -Way (ROW) line of Jenkins Street and the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 37A, thence East along the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 37A to a point where said line intersects with the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39, thence East along the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39 to a point where said line intersects with the eastern property line LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39, thence South along the eastern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39 to a point where said line intersects with the southern property line LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39, thence West along the southern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39 to a point where said line intersects with the southern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38A, thence West along the southern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38A to a point where said line intersects with the eastern ROW line of Jenkins Street, thence North along the eastern ROW line of Jenkins Street to a point where said line intersects with the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 37A, which is the point of beginning. N c tiS O n t. tD Beginning point: Eastern ROW line of Jenkins Street and the northern property line of E Northwest Hwy TX -114 -BR LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 37A s, Eastern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38&39 E Wall St Southern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38A rexas St W Texas St s I.. E Texas St Tract E Beginning at the point of intersection of the eastern Right -of -Way (ROW) line of South Main Street and the northern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A, thence East along the northern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A to a point where said line intersects with the eastern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A, thence South along the eastern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A to a point where said line intersects with the southern property LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A, thence West along the southern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A to a point where said line intersects with the eastern ROW line of South Main Street, thence North along the eastern ROW line of South Main Street to a point where said line intersects with the northern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A, which is the point of beginning. Beginning point: Eastern ROW line of South Main Street and the northern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST422 TR 65A Eastern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A e —4.— " w 0 , - rt. s � y �• y�i� � i!„ Tey • y A� ~ � 4! � r• y -. i r t i ti. i, � 3� � - 1 # . ' .• '1 � . '- ���"M" � �'�' � iR ,R. r.3 h � S� � � 1 � �a�; _ k,= _ - , K a � { • u 5 h I a ".- • ` �' �� i I � - �. .tom:._ _. . . . -i' Ail lie jr► - r. .. y Oft tL 1!^ 41- ; „TT���` ,y - #. si:7J PF. as '4fy. •n f*._+�-rE`s: Alf _- E Jft rr a � f �* _ --. "�.; � � S�2L it _ •`:ids x �" � O . ^ t� Foreword Table of Contents 0 Introduction..........................................................1 DISCLAIMER Our conclusions and recommendations are based on current market conditions and the expected performance of the national, and/or local economy and real estate market. Given that economic conditions can change and real estate markets are cyclical, it is critical to monitor the economy and real estate market continuously, and to revisit key project assumptions periodically to ensure that they are still justified. The future is difficult to predict, particularly given that the economy and housing markets can be cyclical, as well as subject to changing consumer and market psychology. There will usually be differences between projected and actual results because events and circumstances frequently do not occur as expected, and the differences may be material. Historic Grapevine is the premier destination in North Texas. Located in the heart of the Dallas/Fort Worth area and home to DFW International Airport, Grapevine offers extraordinary hotels, a variety of stores for great shopping, an abundance of restaurants, attractions for everyone in the family and a one -of -a -kind urban wine trail. Hop aboard the Grapevine Vintage Railroad or unwind at one of Grapevine's winery -tasting rooms. Grapevine offers a unique cultural experience with something for everyone. Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT Lcron 7rrifLvvc' .Iupmeo[ ■ Overview................................................................2 Original TIRZ BoundarY.......................................3 Expanded TIRZ Boundary 6 Current Conditions & Ownership .......................11 Proposed Development......................................14 Project Costs........................................................15 Anticipated Development...................................16 Financial Feasibility Analysis..............................17 Terms and Conditions.........................................38 AppendixA ........................................................... 39 DISCLAIMER Our conclusions and recommendations are based on current market conditions and the expected performance of the national, and/or local economy and real estate market. Given that economic conditions can change and real estate markets are cyclical, it is critical to monitor the economy and real estate market continuously, and to revisit key project assumptions periodically to ensure that they are still justified. The future is difficult to predict, particularly given that the economy and housing markets can be cyclical, as well as subject to changing consumer and market psychology. There will usually be differences between projected and actual results because events and circumstances frequently do not occur as expected, and the differences may be material. Historic Grapevine is the premier destination in North Texas. Located in the heart of the Dallas/Fort Worth area and home to DFW International Airport, Grapevine offers extraordinary hotels, a variety of stores for great shopping, an abundance of restaurants, attractions for everyone in the family and a one -of -a -kind urban wine trail. Hop aboard the Grapevine Vintage Railroad or unwind at one of Grapevine's winery -tasting rooms. Grapevine offers a unique cultural experience with something for everyone. Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT Lcron 7rrifLvvc' .Iupmeo[ ■ Introduction Amended Project and Financing Plan, TIRZ #1 1 Tax Increment Reinvestment Zone #1, City of Grapevine The goal of amending Tax Increment Reinvestment Zone #1 (TIRZ) is to continue funding the construction of needed public infrastructure and to encourage private development that will yield additional tax revenue to all local taxing jurisdictions. TIRZ #1 will continue to promote the creation of contained, mixed-use development consisting of major retail, restaurants, commercial, and office developments. The project and financing plan outlines the funding of $94,940,434 in public improvements related to streets and intersections, water facilities, sanitary sewer facilities, storm water facilities, open space, parks and recreation. The TIRZ will fund these improvements through the contribution of 100% of the City's ad valorem increment generate within the zone. Lewisville 0DR Flower Mound Roanoke I'b Carrollton i, a Coppell Keller Grapevine j Fa ers Br rYC}Y X iia -bf W? .. i Ii f _—North Richland Wilts x Irving Haltom City %or.% - . %__ i DAVID PETTIT �'i,�Flr�rrlrr: ui'UE'�tJ�tr�;��rlf Overview Amended Project and Financing Plan, TIRZ #1 2 Boundary Description The amended Grapevine TIRZ #1 is located in the northern and central portion of the City of Grapevine. The majority of the TIRZ is located in northern Grapevine, to the east of Grapevine Lake. Two smaller portions of the TIRZ #1 is located in central Grapevine in what is known as the downtown area. The amended TIRZ boundary is approximately 661 acres encompassing the original TIRZ area and additionally Tracts A, B, C, D, and E, described in the following pages. - TIRZ Boundary i DAVID PETTIT R Original TIRZ Boundary BEING a tract of land containing 243.263.acres, situated in the Heirs of James Gibson Survey, Abstract No. 586, Heirs ofJames Gibson Sui-vey,Abstract No. 587, Henry Suggs Survey, Abstract No. 1415, and the Andrew Anderson Survey, Abstract No. 26, all Tarrant County, Texas and also being situated in the Heirs of James Gibson Survey, Abstract No. 1715, C. S. Dunnagan Survey, Abstract No. 1655, and the John E. Holland Survey, Abstract No..614, all in Dallas County, Texas and being more particularly described by metes and bounds as follows (bearings based on the City of Grapevine control monumentation): BEGINNING at the intersection of the south right-of-way line of County Road No. 3044 (40' R.O.W.) with the northwest right-of-way line of State Highway No. 26 (variable R.O.W.); THENCE in a westerly direction bearing to the left along the curving southerly line of County Road No. 3044, having a radial bearing of South 35°25'06" West, aradius of 360.00 feet, passing through an angle of 35'48'00", an arc distance of 224.94 feet to the end of said curve; THENCE South 89°37'06" West, a distance of 549.16 feet to the beginning of a curve bearing to the right having a radius of 440.00 feet; THENCE in a westerly direction along the last mentioned curve, passing through an angle of 24'48'47", an arc distance of 190.55 feet to a point for corner; THENCE South 89°29'40" West, a distance of 335.98 feet to a point for corner; THENCE North 00°20'07" West, a distance of 571.03 feet to a point for corner; THENCE North 80008'27" East, a distance of 69.83 feet to a point for corner; THENCE North 25055'52" East, a distance of 627.39 feet to a point for corner; THENCE North 00'28'33" East, a distance of 183.87 feet to a point for corner; THENCE North 05°31'27" West, a distance of 199.84 feet to a point for corner; THENCE North 00'07'10" East, a distance of 785.14 feet to a point for corner; THENCE South 89°55'41" West, a distance of 52.18 feet to a point for corner; THENCE North 16'48'10" East, a distance of 259.00 feet to a point for corner; THENCE North 28'44'10" East, a distance of 1596.51 feet to a point for corner; THENCE North 35°35' 10" East, a distance of 269.66 feet to a point for corner; THENCE North 49054'10" East, a distance of 159.53 feet to a point for corner; THENCE North 38'44'11 " West, a distance of 766.07 feet to a point for corner; THENCE North 21 °50'42" East, a distance of 183.69 feet to a point for corner; P, M, 8999 a: e� I H■si" � ,� �,�„� ,I j1�'��� ���{p��� P�_ Amended Project and Financing Plan, TIRZ #1 3 i DAVID PETTIT conorntc Duvc"Iop f enr TII± DISTRIt;T GRAPEVINE 'CIF aa, �3 ACRES Pi1111iay-Horn andAssocaatas,lnc L-kk'e-;;' �7�` V BOt l)�•-1 1 CITY OF GNekBVfM£ f1A1,lAS ASO TTEMT COE7'�"17E5e. fmpn rmp, F4 nrnp nctl torn enwanra' t:rhanus Y a.,.°"`.,cv Amended Project and Financing Plan, TIRZ #1 3 i DAVID PETTIT conorntc Duvc"Iop f enr Original TIRZ Boundary THENCE South 38'44'11" East, a distance of 858.57 feet to a point for corner; THENCE North 56'53'10" East, a distance of 209.40 feet to a point for corner; THENCE North 66'43'10" East, a distance of 277.03 feet to a point for corner; THENCE North 74'48'10" East, a distance of 235.52 feet to a point for corner; THENCE North 88'06'10" East, a distance of 520.82 feet to a point for corner; THENCE North 89019'40" East, a distance of 3 52.3 5 feet to a point for corner; THENCE North 01 '49'16" East, a distance of 451.84 feet to a point for corner; THENCE South 88'10'45" East, a distance of 160.00 feet to a point for corner; THENCE South 01 '49'16" West, a distance of 486.98 feet to a point for corner; THENCE North 89'15'09" East, a distance of 1983.97 feet to a point for corner; THENCE North 57'32'54" East, a distance of 363.97 feet to a point for corner; THENCE North 89° 15'09" East, a distance of 354.94 feet to a point for corner; THENCE South 34° 34'.15" West, a distance of 245. 11 feet to a point for corner; THENCE South 890 15' 09" West, a distance of 156.44 feet to a point for corner; THENCE South 57° 32' S4" West, a distance of 363. 97 feet to a point for corner; THENCE South 89° 15'09" West, a distance of 2049.62 feet to a point for corner; THENCE South 01' 49' 35" West, a distance of 1240.21 feet to a point for corner; THENCE South 01' 49' 35" West, a distance of 441. 77 feet to a point for corner; THENCE South OS' 59'45" East, a distance of 405. 04 feet to a point for corner; THENCE South 15° 12'45" East, a distance of 324.23 feet to a point for corner; THENCE South 31 ° 00' S9" West, a distance of 665. 91 feet to a point for corner; THENCE South 27° 30' 10" West, a distance of 531. 11 feet to a point for corner; THENCE North 47° 42' 13" West, a distance of 193. 61 feet to a point for corner; THENCE North 47° 17'47" East, a distance of 400.00 feet to the POINT OF BEGINNING and CONTAINING 274.787 acres; Save and except a tract of land, containing 31. 524 acres, situated in the Heirs of James Gibson Survey, Abstract 586 and the Henry Suggs Survey, Abstract No. 1415, in the City of Grapevine, Tarrant County, Texas and being a portion of a called 80. 6597- acres tract as conveyed to Gateway Center Associates, Ltd. and evidenced in a Special Warranty Deed, recorded in Volume 9799 at Page 0139 of the Deed Records of Tarrant County, Texas, said 33. 398- acre tract being more particularly described by metes and bounds as follows ( bearings based on the City of Grapevine control monumentation): COMMENCING at a concrete monument with brass cap found at the south corner of a visibility clip at the intersection of the south right-of-way line of Anderson- Gibson Road( a called 40- foot wide right-of-way) with the current right-of-way line of State Farm to Market Highway 2499 ( FM 2499 a variable width right-of-way)); THENCE South 01° 46'42" West along the west right- of -way line of said FM 2499, 83. 81 feet to a 5/ 8- inch iron rod set for the POINT OF BEGINNING; THENCE South 01 ° 46' 42" West continuing along said west right-of-way line of FM 2499, 771. 16 feet to a 518- inch iron rod set for a corner; THENCE South 46° 46'43" West, departing said west right-of-way line, 56.57 feet to a 5/ 8- inch iron rod set for a corner; THENCE North 88° 13' 17" West, 103. 41 feet to a 518- inch iron rod set for the beginning of a curve to the left; THENCE along the arc of said curve to the left, having a central angle of 71' 39' 29", a radius of 340. 00 feet and an arc length of 425. 23 feet to a set 518- inch iron rod; THENCE South 20° 07' 14" West, 18. 98 feet to a 518- inch iron rod set for the beginning of a curve to the right; THENCE along the arc of said curve to the right, having a central angle of 90° 00'00", a radius of 30.00 feet and an arc length of 47. 12 feet to a 5/ 8- inch iron rod set at the end of said curve; THENCE North 69° 52' 46" West, 1158. 58 feet to a 518- inch iron rod set at the beginning of a curve to the right; THENCE along the arc of said curve to the right, having a central angle of 08° 34'24", a radius of 977.00 feet and an are length of 146. 19 feet to a 518- inch iron rod set for the end of said curve; THENCE North 61 ° 18' 22" West, a distance of 15. 92 feet to a point for corner; THENCE North 280 44' 10" East, a distance of 45. 40 feet to a poiiit for corner; THENCE North 35° 35' 10" East, a distance of 232.58 feet to a point for corner; THENCE South 42° 21'01" West, a distance of 1557.29 feet to a point on a curve whose center bears South 34° 44' 02" THENCE North 49° 54' 10" East, a distance of 232.53 feet to a point for corner; East, a distance of 4545. 66 feet; THENCE North 56° 53' 10" East, a distance of 229.94 feet to a point for corner; THENCE in a southwesterly direction bearing to the left along the last mentioned curve, passing through an angle of 07° 48' 02", an are distance of 618.87 feet to a point for corner; Amended Project and Financing Plan, TIRZ #1 DAVID P'ETTIT Original TIRZ Boundary THENCE North 66° 43' 10" East, a distance of 245. 69 feet to a point for corner; THENCE North 74° 48' 10" East, a distance of 198. 07 feet to a point for corner; THENCE North 88° 06' 10" East, a distance of 383. 20 feet to a point for corner; THENCE South 78° 18' 25" East, a distance of 108. 84 feet to a point for corner; THENCE North 890 17' 08" East, a distance of 295. 70 feet to a 518- inch iron rod set for corner; THENCE South 44° 28'04" East, 69.16 feet to the POINT OF BEGINNING and CONTAINING 31. 524 acres. Amended Project and Financing Plan, TIRZ #1 5 DAVID PETTIT Econarrix DL'w,rtjp(new Expanded TIRZ Boundary TRACT A Beginning at the point of intersection of the southern Right -of -Way (ROW) line of Lakeside Parkway and the eastern property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685, thence Southeast along the southern ROW line of Lakeside Parkway to a point where said line intersects with the eastern property line of B B B & C RR ABST 1772 PG 430 TR 13.1 ACS 1.6390, thence South along the eastern property line B B B & C RR ABST 1772 PG 430 TR 13.1 ACS 1.6390 to a point where said line intersects with the southern property line of B B B & C RR ABST 1772 PG 430 TR 13.1 AGS 1.6390, thence East along the projection of the southern property line of B B B & C RR ABST 1772 PG 430 TR 13.1 ACS 1.6390 to a point where projection of said line intersects with the eastern property line of T W COUSY ABST 317 PG 430 TR 2 ACS 25.6793 HIGHPOINT PARK, thence South along the eastern property line of T W COUSY ABST 317 PG 430 TR 2 ACS 25.6793 HIGHPOINT PARK to a point where said line intersects with the eastern property line of J E HOLLAND ABST 0614 PG 210 TR 1 ACS 60.2055 AC, thence South along the eastern property line of J E HOLLAND ABST 0614 PG 210 TR 1 ACS 60.2055 AC to a point where the projection of said line intersects with the southern ROW line of TX -121 South, thence Southwest along the southern ROW line of TX -121 SOUTH to a point where said line intersects with the eastern ROW line of FM -2499 North, thence North along the eastern ROW line of FM -2499 North to a point where said line intersects with the southern ROW line of Stars and Stripes Way, thence Southwest along the southern ROW line of Stars and Stripes Way to a point where said line intersects with the southern ROW line of East Grapevine Mills Drive, thence West along the southern ROW line of East Grapevine Mills Drive to a point where the projection of said line intersects with the western ROW line of Grapevine Mills Boulevard North, thence Northeast along the western ROW line of Grapevine Mills Boulevard North to a point where said line intersects with the western ROW line of FM -2499 South, thence North along the western ROW line of FM -2499 South to a point where said line intersects with the projection of the southern property line of RIVERWALK ADDITION Block lA Lot IAl, thence East along the projection of the southern property line of RIVERWALK ADDITION Block 1A Lot lAl to a point where said line intersects with the eastern property line of RIVERWALK ADDITION Block IA Lot lAl, thence North along the eastern property line of RIVERWALK ADDITION Block IA Lot 1Al to a point where said line intersects with the northern property line of BAKER, JAMES M SURVEY Abstract 167 Tract 1, thence East along the northern property line of BAKER, JAMES M SURVEY Abstract 167 Tract 1 to a point where the projection of said line intersects with the western property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685, thence North along the western property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685 to a point where said line intersects with the northern property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685, thence East along the northern property line of JAMES M BAKER ABST 1691 PG 410 TR 1 ACS 26.2685 to a point where said line intersects with the southern ROW line of Lakeside Parkway, which is the point of beginning. Beginning Point: Southern ROW Line of Lakeside Parkway and Eastern Property Line of JAMES M BAKER ABST 1691 PG 4i0 TR 1 ACS 26.2685 kat Pky FM -2499 !y GrspevauWestern ROW Line Monts"of FM 2499 South of Couri. _. -- '�o �t $t a 0% �® ti 0�4 Eastern property line of J E HOLLAND ABST 0614 PCs 210 TR 1 ACS 60.2055 AC h W Sandy Lake Rd Southern ROW line of TX -121 South Southern ROW line of¢ East Grapevine Milis Drire. � NV ti aA 9 Amended Project and Financing Plan, TIRZ #1 C.1 i� DAVID PETTIT fcuwrwc Devciropramf C U. Expanded TIRZ Boundary TRACT B Beginning at the point of intersection of the western Right -of -Way (ROW) line of Anderson Gibson Road and the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1E, thence West along the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract I to a point where said line intersects with the eastern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract IE, thence North along the eastern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 E to a point where said line intersects with the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract IE, thence West along the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract lE to a point where said line intersects with the eastern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B, thence North along the eastern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B to a point where Western property line of said line intersects with the northern property line ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B, 1� 1� yne orac ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 58 thence West along the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B to a point where r' G" C*�: ' said line intersects with the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B, thence South along the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B to a point where said line intersects with the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B, thence East along the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5B to a point where said line intersects with the western property line of SUGGS, HENRY SURVEY Abstract 1415 Tract IE, thence Cowoaa South along the western property line of SUGGS, HENRY SURVEY Abstract 1415 Tract 1 to a point where said line `" intersects with the western ROW line of Anderson Gibson Road, thence North along the western ROW line of Anderson Gibson Road to a point where said line intersects with the northern property line of SUGGS, HENRY SURVEY Abstract 1415 Tract IE, which is the point of the beginning. Amended Project and Financing Plan, TIRZ #1 7 Northern property line of SUGGS, HENRY SURVEY Ab- stract 1415 Tract 1E V s a r Beginning point: Western ROW line of Anderson Gibson Road C and the northern property line of SUGGS, HENRY SURVEY °'~y Abstract 1415 Tract 1E a�cs`n c, 4 w ,y6 �a IINm Gild LaL.aco!" Cmfiraax�e Car:+ 0� DAVID PETTIT Expanded TIRZ Boundary TRACT C Beginning at the point of intersection of the northern Right -of -Way (ROW) line of TX -26 W and the northern property line of BLUFFS AT GRAPEVINE ADDN, THE Block 1 Lot 1A, thence West along the northern property line of BLUFFS AT GRAPEVINE ADDN, THE Block 1 Lot I to a point where said line intersects with the eastern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5, thence North along the eastern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5 to a point where said line intersects with the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5, thence West along the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5 to a point where ; said line intersects with the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5, thence South along the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5 to a point where the projection of said line intersects with the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A thence Western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A Southwest along the northern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A to a point where said line intersects with the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A, thence :: y South along the western property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A to a point where a` said line intersects with the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A, thence East along the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A to a point where `...° the projection of said line intersects with the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5, thence East along the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 5 to a point where said line intersects with the southern property line of BLUFFS AT GRAPEVINE ADDN, THE Block 1 Lot IA, thence Southeast along the southern property line of ANDERSON, ANDRIVEEW W SURVEY Abstract 26 Tract 6A to a point where said line intersects with the northern ROW line of TX -26 W, thence Northeast along the northern ROW line of TX -26 W to a point where said line intersects with the northern property line of BLUFFS AT GRAPEVINE ADDN, THE Block 1 Lot IA, which is the point of the beginning. Amended Project and Financing Plan, TIRZ #1 8 M1t' �4 Beginning pointe Northern ROW fine of TX -26 W and the northern property line of BLUFFS AT GRAPEVINE ADDN, THE Block 1 Lot 1A DAVID PETTIT Econornrr [)ev aprrien( ■ Expanded TIRZ Boundary TRACT D Beginning at the point of intersection of the eastern Right -of -Way (ROW) line of Jenkins Street and the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 37A, thence East along the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 37A to a point where said line intersects with the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39, thence East along the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39 to a point where said line intersects with the eastern property line LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39, thence South along the eastern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39 to a point where said line intersects with the southern property line LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39, thence West along the southern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38 & 39 to a point where said line intersects with the southern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38A, thence West along the southern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38A to a point where said line intersects with the eastern ROW line of Jenkins Street, thence North along the eastern ROW line of Jenkins Street to a point where said line intersects with the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 37A, which is the point of beginning. AV a Beginning point: Eastern ROW line of Jenkins Street and the northern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 37A V7 J, f m r, C u Wall St rexas $t W Te *a Amended Project and Financing Plan, TIRZ #1 9 F Wall :'t Southern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38A E Texas St Eastern property line of LEONAROAD, ARCHIBALD F SURVEY Abstract 946 Tract 38&39 First Baptal cherch Of Grapeoine 0� DAVID PE TTIT FCLFlC3fmc Devct'.iopi°iten[ Expanded TIRZ Boundary TRACT E Beginning at the point of intersection of the eastern Right -of -Way (ROW) line of South Main Street and the northern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A, thence East along the northern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A to a point where said line intersects with the eastern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A, thence South along the eastern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A to a point where said line intersects with the southern property LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A, thence West along the southern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A to a point where said line intersects with the eastern ROW line of South Main Street, thence North along the eastern ROW line of South Main Street to a point where said line intersects with the northern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A, which is the point of beginning. tJ �.tYrxr Gt;f � grna 5f Beginning point: Eastern ROW line of South Main Street and the northern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A W pafte• Rd F mwgd — 6, H.ti ir.wrr. Eastern property line of LIPSCOMB & DANIEL SUBDIVISION Lot 5 & ABST 422 TR 65A it E Huag,n Amended Project and Financing Plan, TIRZ #1 10 _ DAVID PETTIT Ec000rrik 1X4'009WICM Current Conditions Amended Project and Financing Plan, TIRZ #1 11 Land Use The land within the TIRZ currently serves a variety of purposes with ample vacancies to be utilized for development. Method of Relocating Persons to be Displaced It is not anticipated that any persons will be displaced or need to be relocated as result of implementation. DAVID PETTIT 17�D LtiJm)t it E Current Conditions ri V Zoning The property within the TIRZ contains a variety of zoning including: Community Commercial District, hotel Corporate Office District, Governmental Use District, Single Family Residential, Central Business District and Others.. It is not anticipated at this time there will be any other changes to the City of Grapevine zoning ordinance, master plan, building codes, subdivision rules and regulations or other municipal ordinances as a result of the TIRZ. i *o 4R :T IN Legend BP GU HGT hJ PD (� R-12.5-- I R-5.0 R -MH - CBD - GV - LI - PID R -20s; R-7.5 R-TH CC - HC M MXU PO - R-3.5 R -MF -1 RA CN ® HCO W PCD = PRD -12 R-3.75 R -MF -2 ® SP Major Highways/Arterials Amended Project and Financing Plan, TIRZ #1 12 DAVID PETTIT Fcor)(;m(t t cq� .,uprriet)f ■ Current Conditions F- Current Ownership Information There are 80 parcels within Tax Increment Reinvestment Zone #1, with numerous owners. The TIRZ is located in both, Tarrant County and Dallas County. For further details of parcels included within the TIRZ see Exhibit A. ■ Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT 13 Etor?t rwc Proposed Development The expansion of the Tax Increment Reinvestment Zone #1 area, coupled with the term extension intends to facilitate a large scale mixed-use development totaling more than 8,750,000 square feet of new construction. It is expected to facilitate the construction of both commercial and residential development, as well as open space. The following pictures provides character images for the proposed development. Amended Project and Financing Plan, TIRZ #1 14 _ DAVID PETTIT ■ Project Costs There are a number of improvements within Tax Increment Reinvestment Zone #4 that will be financed by in part by incremental real property tax generated within the TIRZ. Proposed Project Costs Water Facilities and Improvements $ 4,747,022 5.0% Sanitary Sewer Facilities and Improvements $ 4,747,022 5.0% Storm Water Facilities and Improvements $ 7,120,533 7.5% Street and Intersection Improvements $ 23,735,109 25.0% Open Space, Park and Recreation Facilities and Improvements $ 9,494,043 10.0% Parking Structure $ 9,000,000 9.5% Economic Development Grants $ 33,723,195 35.5% Administrative Costs $ 2,373,511 2.5% TOTALI $ 94,940,434 1 100% The costs illustrated in the table above are estimates and may be revised. Savings from one line item may be applied to a cost increase in another line item. A Q, de �FUTVRE PARK AMENITY / 2ACRE5 GRO KUBOTA - l NORTH AMERICAN HEADQUARTERS 302 ACRES GROSS CORPORATE \. REMAIIiOFRT RACT\\ ZB ACRES NOT APARTj y t CORPORATE REMAINDER TRACT % A 6.7 ACRES GROSS HOSPITALITY/DINING OFFICE I MIXED USE ' 0. i I � � �t � 508 ACOS GROSS DESTINATION ENTERTAINMENT RETAIL / MULTWAMILY / fi �I 32.6 ACRES GROSSi�Z' I / J Sa J Lu a Lq Ul NOT APA J, A -� r GRAPEVINE MILLS gpULEVARD 1nf ;;� ,' `I Chapter 311 of the Texas Tax Code Sec. 311.002. (1) "Project costs" means the expenditures made or estimated to be made and monetary obligations incurred or estimated to be incurred by the municipality or county designating a reinvestment zone that are listed in the project plan as costs of public works, public improvements, programs, or other projects benefiting the zone, plus other costs incidental to those expenditures and obligations. "Project costs" include: (A) capital costs, including the actual costs of the acquisition and construction of public works, public improvements, new buildings, structures, and fixtures; the actual costs of the acquisition, demolition, alteration, remodeling, repair, or reconstruction of existing buildings, structures, and fixtures; the actual costs of the remediation of conditions that contaminate public or private land or buildings; the actual costs of the preservation of the facade of a public or private building; the actual costs of the demolition of public or private buildings; and the actual costs of the acquisition of land and equipment and the clearing and grading of land; (B) financing costs, including all interest paid to holders of evidences of indebtedness or other obligations issued to pay for project costs and any premium paid over the principal amount of the obligations because of the redemption of the obligations before maturity; (C) real property assembly costs; (D) professional service costs, including those incurred for architectural, planning, engineering, and legal advice and services; (E) imputed administrative costs, including reasonable charges for the time spent by employees of the municipality or county in connection with the implementation of a project plan; (F) relocation costs; (G) organizational costs, including the costs of conducting environmental impact studies or other studies, the cost of publicizing the creation of the zone, and the cost of implementing the project plan for the zone; (H) interest before and during construction and for one year after completion of construction, whether or not capitalized; (1) the cost of operating the reinvestment zone and project facilities; (J) the amount of any contributions made by the municipality or county from general revenue for the implementation of the project plan; (K) the costs of school buildings, other educational buildings, other educational facilities, or other buildings owned by or on behalf of a school district, community college district, or other political subdivision of this state; and (L) payments made at the discretion of the governing body of the municipality or county that the governing body finds necessary or convenient to the creation of the zone or to the implementation of the project plans for the zone. Amended Project and Financing Plan, TIRZ #1 15 - DAVID PETTIT r. or"OrruL ■ Anticipated Development Anticipated Development The proposed TIRZ #1 development is a large scale mixed-use development that will be constructed over the next several years and financed in part by incremental property tax generated within the TIRZ. The table provides an overview of the potential development that we believe will occur during the life of the TIRZ along with estimated dates of when the incremental revenue will flow into the TIRZ fund. Output @ Year INET PRESENT VALUE @ 6% GROSS Amended Project and Financing Plan, TIRZ #1 16 2038 1 41,643.126 1 94,940,434 DAVID PETTIT ■ Square Feet Area 1 Existing Mall 1,877,254 1, 877,254 Area 2 Office - Kubota 200,000 4,077,500 4,277,500 Area 3 2,607,000 2,607,000 Grand Total SQFT 8,761,754 Output @ Year INET PRESENT VALUE @ 6% GROSS Amended Project and Financing Plan, TIRZ #1 16 2038 1 41,643.126 1 94,940,434 DAVID PETTIT ■ Financial Feasibility Analysis Method of Financing To fund the public improvements outlined on the previous pages, it is anticipated that the City of Grapevine will contribute 100% of its real property increment for the duration of the TIRZ. City of Grapevine Participation Overview Real Property Tax Partici ation City of Grapevine 0.33243900 100% 0.3324390 Tarrant County 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRW D 0.02000000 0% 0.0000000 Gra evine/Colle ville ISD 1 1.32010000 0% 0.0000000 ESA - 3800 2.31340600 0.3324390 Debt Service It is not anticipated at this time that the TIRZ will incur any bonded indebtedness. Economic Feasibility Study A taxable value analysis was developed as part of the amended project and financing plan to determine the economic feasibility of the project. The study examined the expected tax revenue the TIRZ would receive based on the previously outlined developments. A summary overview of the anticipated development square footages, the anticipated sales per square foot and the anticipated taxable value per square foot can be found on the previous page. The taxable value analysis shows the estimated captured appraised value of the zone during each year of its existence and the net benefits of the zone to each of the local taxing jurisdictions. Utilizing the information outlined in this feasibility study, we have found that the TIRZ is economically feasible and will provide the City with economic benefits that would not occur without its implementation. Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT s Enterprise Dr fntemationat Pky ?ar+rart ESA - 3800 Fairway Ln Grapeone Municipal Golf Cour..: i Z fl,9 n Oak Grove Park ty Mockingbird Dr y 00N, a oye wa" cc cr 0017 s Acorn j�, viae d3 �° � ,��`• A # Bass Pro D W GQ b _ Bushong Rd ti t c Rq Shap � _ � 'b� w stook ifs ti �y#4ltrrpU� W Peach S1 Turier Cotton Rd 2 Fid <�� # Z Sly Dallas Fi thwest Hwy TX 114 SR E 13E Northwest Hwy .'•Forth Intl 0� Airport Grapevine wall St Coppctl itrf i L Y PSr f asY St t,,, � ro E Datlar Rd e � I W{}allasRd WoodsAva W�astr St tf�Tj(.114f- kstvrs Blvd us s s,C' Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT Financial Feasibility Analysis Revenue Summary Taxing Jurisdictions Total Taxes Generated Participation Net Benefit City of Grapevine $232,482,187 $94,940,434 $137,541,753 Tarrant County $78,269,751 $0 $78,269,751 Tarrant County Hospital $67,566,066 $0 $67,566,066 TCC $44,166,079 $0 $44,166,079 TRWD $5,929,527 $0 $5,929,527 Gra evine/Colle ville ISD $391,378,402 $0 $391,378,402 Total $819,792,012 $94,940,434 $724,851,578 Estimated Revenue by Year $6,000,000 ■TRWD ■ Tarrant County ■ City of Grapevine $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $ 0-- 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 Total Taxes Generated $232,482,187,28 $5,929,527, ■ City of Grapevine ■ Tarrant County ■ Tarrant County Hospital ■ TCC ■TRWD - T Gra pevi ne/Col leyvil le ISD 269,751, 10% ,566,066,8% ■ Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT 18 r(000rrik DUVO-Ot WWW Financial Feasibility Analysis TAXABLE BASE YEAR GROWTH 2.00% Tarrant County 7,647,325 DISCOUNT RATE 6.00% TCC 7,647,325 TRWD 2015-2017 Grapevine/Colleyville ISD 7,647,325 REAL PROPERTY TAX Cityof Grapevine 0.3324390 100% 0.3324390 Tarrant County 0.2640000 100% 0,2640000 Tarrant County Hospital 0.2278970 100% 0.2278970 TCC 0.1489700 100% 0.1489700 TRWD 0.0200000 100% 0.0200000 Grapevine/Colleyville ISD 1.3201000 100% 1.3201000 963,356 2.3134060 1,003,303 2.3134060 1,044,863 BASE YEAR 0 0 REVENUE YEAR 1998 2015 2016 BASE YEAR City of Grapevine 7,647,325 Tarrant County 7,647,325 Tarrant County Hospital 7,647,325 TCC 7,647,325 TRWD 7,647,325 Grapevine/Colleyville ISD 7,647,325 TAXABLE VALUE City of Grapevine Tarrant County Tarrant County Hospital TCC TRWD Grapevine/Colleyville ISD TAXABLE VALUE INCREMENT City of Grapevine Tarrant County Tarrant County Hospital TCC TRWD Grapevine/Colleyville ISD ESTIMATE OF GENERAL IMPACT OF PROPOSED ZONE PROPERTY VALUES AND TAX REVENUES REAL PROPERTY TAX 0.3324390 100% 0.3324390 0.2640000 100% 0.2640000 0.2278970 100% 0.2278970 0.1489700 100% 0.1489700 0.0200000 100% 0.0200000 1.3201000 100% 1.3201000 L.J7J4000 L.J 1-u- 0 1 2 3 4 2017 2018 2019 2020 2021 City of Grapevine Tarrant Count Tarrant County Hospita TC( TRW[ Grapevine/Colleyville IS[ BUSINESS PERSONAL PROPERTYTAN 0.3324390 100% 0.3324390 0.2640000 100% 0.2640000 0.2278970 100% 0.2278970 0.1489700 100% 0.1489700 0.0200000 100% 0.0200000 1.3201000 100% 1.3201000 L.,17.14000 t.J 111- 5 6 7 8 9 10 2022 2023 2024 2025 2026 2027 SALES TAX 0.02000001 0.00% 10.0000000 11 12 13 14 15 16 17 18 19 20 21 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7.,647,325 7,647,325 7,647,325 269,393,047 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 269,393,047 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 269,393,047 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 269,393,047 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 269,393,047 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447;932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 269,393,047 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 261,745,722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 261,745,722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 261,745,722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 261,745,722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 261,745,722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 261,745,722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 TOTALS UE #2 - SALES TAX npv @ 6% Citvof Grapevine 53.596.2, -OFFICE REAL PROPERTY TAX 0 0 0 28,700,000 43,050,000 102,275,000 124,712,500 147,150,000 235,987,500 265,600,000 333,500,000 367,450,000 401,400,000 409,428,000 9 750 000 11,000,000 13,875,000 15,312,500 16,750,000 17,085,000 417,616,560 City of Grapevine 0 98,734 148,102 353,300 431,215 509,130 714,328 816,927 919,526 1,154;810 1,272,452 1,390,094 1,417,896 1,446,253 Tarrant County 0 78,408 117,612 280,566 342,441 404,316 567,270 648,747 730,224 917,070 1,010,493 1,103,916 REVENUE 1,148,514 TAXABLE VALUE GROWTH 0 67,685 101,528 242,198 295,611 943,968 963,356 983,132 1,003,303 1,023,877 1,044,863 1,066,269 1,088,103 1,110,374 1,133,069 1,156,260 1,179,893 1,204,000 1,228,588 1,253,668 1,279,250 1,305,344 1,331,959 1,359,107 1,386,797 26,634,688 City of Grapevine County City of Grapevine 648,084 870,145 888,056 906,326 924,961 21,255 25,943 30,630 42,975 813,092 829,758 846,757 864,096 881,782 899,821 918,221 936,989 956,133 975,659 995,576 1,015,892 1,036,613 1,057,749 1,079,308 1,101,298 21,151,422 Tarrant Tarrant County 5,519,998 691,009 705,233 719,741 734,540 749,634 765,031 780,735 796,754 745,928 761,195 776,767 792,651 808,853 825,378 842,234 859,428 876,965 894,853 913,098 931,709 950,691 18,258,885 Tarrant County Hospital Tarrant County Hospital 596,511 608,789 621,314 634,089 647,119 660,410 673,967 687,795 701,899 716,286 730,960 518,134 528,725 539,527 550,545 561,784 573,248 584,940 596,867 609,032 621,441 11,935,331 TCC TCC 389,923 397,949 406,136 414,486 423,004 431,692 440,553 449,592 458,812 468,216 477,808 487,592 497,572 507,751 72,434 73,914 75,422 76,961 78,531 80,133 81,766 83,432 1,602,380 TRWD TRWD 52,349 53,427 54,526 55,647 56,790 57,957 59,147 60,360 61,598 62,860 64,148 65,462 66,802 68,168 69,562 4,591,454 70,984 4,685,302 4,781,027 4,878,667 4,978,259 5,079,843 5,183,459 5,289,148 5,396,950 5,506,908 105,765,124 Grapevine/Colleyville ISD Grapevine/Colleyville ISD 3,455,305 3,526,430 3,598,978 3,672,977 3,748,455 3,825,443 3,903,971 3,984,070 4,065,770 4,149,105 4,234,106 4,320,807 4,409,242 4,499,446 n v6% 91,690.533 6,055,241 6,179,884 6,307,020 6,436,699 6,568,971 6,703,889 6,841,505 6,981 873 7,125,049 7,271,088 7,420,048 7,571,988 7,726,966 7,885,043 5,046,282 8,210,746 8,378,500 8,549,608 8,724,138 8,902,159 9,083,741 9,268,954 9,457,871 9,650,567 185,3477831 REVENUE #1 -RETAIL 0 0 48,150,000 72,225,000 113,175,000 137,362,500 153,675,000 178,425,000 186,862,500 195,300,000 199,206,000 203,190,120 207,253,922 211,399,001 215,626,981 219,939,520 224,338,311 228,825,077 233,401,579 238,069,610 242,831,002 REAL PROPERTY TAX 0 0 0 13,098,750 14,598,750 16,942,500 17,786,250 18,630,000 19,002,600 19,382,652 19,770,305 20,165,711 20,569,025 20,980,406 21,400,014 21,828,014 22,264,575 22,709,866 23,164,063 BUSINESS PERSONAL PROPERTY 0 0 0 0 0 4,627,500 6,941,250 10;942,500 City of Grapevine 0 0 0 0 0 175,453 263,179 412,615 500,192 559,408 649,478 680,332 711,187 725,410 739,919 754,717 769,811 785,208 800,912 816,930 648,749 833,269 661,724 849,934 674,959 866,933 688,458 884,271 702,227 12,779,157 10,148,321 City of Grapevine Tarrant County Tarrant County 0 0 0 0 0 139,333 208,999 327,670 397,218 444,243 515,770 540,273 564,775 576,071 587,592 599,344 611,331 527,729 623,557 538,284 636,029 549,049 560,030 571,231 582,655 594,309 606,195 8,760,499 Tarrant County Hospital Tarrant County Hospital 0 0 0 0 0 120,278 180,418 282,860 342,897 383,491 445,237 466,388 487,540 497,291 507,237 331,567 517,381 338,198 344,962 351,861 358,898 366,076 373,398 380,866 388,483 396,253 5,726,497 TCC TCC 0 0 0 0 0 78,623 117,934 184,898 224,142 250,677 291,039 304,865 318,692 325,065 43,642 44,515 45,405 46,313 47,239 48,184 49,148 50,131 51,133 52,156 53,199 768,812 TRWD TRWD 0 0 0 0 0 10,556 15,833 24,824 30,092 33,655 39,074 40,930 2,701,568 42,786 2,824,090 2,880,572 2,938,183 2,996,947 3,056,886 3,118,023 3,180,384 3,243,992 3,308,871 3,375,049 3,442,550 3,511,401 50,745,447 Grapevine/Colleyville ISD Grapevine/Colleyville ISD 0 0 0 0 0 696,716 1,045,074 1,638,475 1,986,239 2,221,382 2,579,046 n v6% 35.581.6481 0 0 0 0 0 1,220,958 1,831,437 2,871,342 3,480,780 3,892,855 4,519,643 4,734,356 4,949,069 5,048,051 5,149,012 5,251,992 5,357,032 5,464,173. 5,573,456 5,684,925 5,798,624 5,914,596 6,032,688 6,153,546 UE #2 - SALES TAX npv @ 6% Citvof Grapevine 53.596.2, -OFFICE REAL PROPERTY TAX 0 0 0 28,700,000 43,050,000 102,275,000 124,712,500 147,150,000 235,987,500 265,600,000 333,500,000 367,450,000 401,400,000 409,428,000 9 750 000 11,000,000 13,875,000 15,312,500 16,750,000 17,085,000 417,616,560 City of Grapevine 0 98,734 148,102 353,300 431,215 509,130 714,328 816,927 919,526 1,154;810 1,272,452 1,390,094 1,417,896 1,446,253 Tarrant County 0 78,408 117,612 280,566 342,441 404,316 567,270 648,747 730,224 917,070 1,010,493 1,103,916 1,125,994 1,148,514 Tarrant County Hospital 0 67,685 101,528 242,198 295,611 349,024 489,694 560,028 630,363 791,657 872,304 952,951 972,010 991,451 TCC 0 44,244 66,366 158,318 193,233 228,148 320,099 366,075 412,051 517,485 570,201 622,918 635,376 648,084 TRWD 0 5,940 8,910 21,255 25,943 30,630 42,975 49,148 55,320 69,475 76,553 83,630 85,303 87,009 Grapevine/Colleyville ISD 0 392,070 588,105 1,402,936 1,712,335 2,021,733 2,836,565 3,243,981 3,651,397 4,585,697 5,052,848 5,519,998 5,630,398 5,743,006 101 1 25,968,891 434,488,269 443,178,034 452,041,595 17,775,234 18,130,739 18,493,353 18,863,221 1,475,179 1,504,682 1,534,776 1,565,471 1,171,484 1,1.94,914 1,218,812 1,243,189 1,011,280 1,031,505 1,052,135 1,073,178 661,046 674,267 687,752 701,507 88,749 90,524 92,334 94,181 5,857,866 5,975,024 6,094,524 6,216,414 10.265.603 10,470,915 10,680,334 10,893,940 Amended Project and Financing Plan, TIRZ #1 19 470,304,076 479,710,157 509,072,256 1 1,596,781 1,628,716 1,661,291 1,694,516 1,728,407 1,762,975 26,825,560 City of Grapevine 1,268,052 1,293,414 1,319,282 1,345,667 1,372,581 1,400,032 21,303,000 Tarrant County 1,094,642 1,116,534 1,138,865 1,161,642 1,184,875 1,208,573 18,389,734 Tarrant County Hospital 715,537 729,848 744,445 759,334 774,520 790,011 12,020,863 TGC 96,065 97,986 99,946 101,945 103,983 106,063 1,613,864 TRWD 6,340,743 6,467,558 6,596,909 6,728,847 6,863,424 7,000,692 106,523,069 Grapevine/Colleyville ISD 11,111,819 11, 334,055 11,560,737 11,791,951 12,027,790 12,268,346 186, 676, 090 DAVID PETTIT EconvrTirt DeveFopr"r"rent Financial Feasibility Analysis ESTIMATE OF GENERAL IMPACT OF PROPOSED ZONE PROPERTY VALUES AND TAX REVENUES TAXABLE BASE YEAR GROWTH 2.00 DISCOUNTRATE 6.00% 2015-2017 2018-2038 REAL PROPERTY TAX REALPROPERTYTAX BUSINESS PERSONAL PROPERTYTAX SALES TAX City of Grapevine 0.3324390 100% 0.3324390 0 0.3324390 100% 0.3324390 City of Grapevine 0.3324390 100% 0.3324390 1 0.0200000 0.ao% I 0.00 Tarrant County 0.2640000 100% 0.2640000 0 0.2640000 100% 0.2640000. Tarrant County 0.2640000 100% 0.2640000 Tarrant County Hospital 0.2278970 100% 0.2278970 0 0.2278970 100% 0.2278970 Tarrant County Hospital 0.2278970 1001 0.2278970 TCC 0.1489700 100% 0.1489700 0 0.1489700 100% 0.1489700 TCC 0.1489700 100% 0.1489700 TRWD 0.0200000 100% 0.0200000 0 0.0200000 100% 0.0200000 TRWD 0.0200000 100% 0.0200000 Grapevine/Colleyville ISD 1.3201000 100% 1.3201000 0 1.3201000 100% 1.3201000 Grapevine/Colleyville ISD 1.3201000 100% 1.3201000 2.3134060 2.3134060 2.3134060 2.3134060 2.3134060 2.3134060 BASE YEAR 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 REVENUE YEAR 1998 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 TOTALS REVENUE #4 - COMMERCIAL REALPROPERTYTAX 0 0 0 33,250,000 49,875,000 137,400,000 172,850,000 208,300,000 212,466,000 216,715,320 221,049,626 225,470,619 229,980,031 234,579,632 239,271,225 244,056,649 248,937,782 253,916,538 258,994,868 264,174,766 269,458,261 274,847,426 280,344,375 285,951,262 BUSINESS PERSONAL PROPERTY 0 0 0 1,187,500 1,781,250 5,100,000 6,462,500 7,825,000 7,981,500 8,141,130 8,303,953 8,470,032 8,639,432 8,812,221 8,988,465 9,168,235 9,351,599 9,538,631 9,729,404 9,923,992 10,122,472 10,324,921 10,531,420 10,742,048 City of Grapevine 0 0 0 114,484 171,726 473,726 596,105 718,484 732,853 747,511 762,461 777,710 793,264 809,129 825,312 841,818 858,655 875,828 893,344 911,211 929,435 948,024 966,985 986,324 15,734,388 City of Grapevine Tarrant County 0 0 0 90,915 136,373 376,200 473,385 570,570 581,981 593,621 605,493 617,603 629,955 642,554 655,406 668,514 681,884 695,522 709,432 723,621 738,093 752,855 767,912 783,270 12,495,160 Tarrant County Tarrant County Hospital 0 0 0 78,482 117,723 324,753 408,fi48 492,542 502,393 512,441 522,690 533,144 543,807 554,683 565,776 577,092 588,634 600,406 612,415 624,663 637,156 649,899 662,897 676,155 10,786,399 Tarrant County Hospital TCC 0 0 0 51,302 76,952 212,282 267,122 321,961 328,401 334,441 341,668 348,501 355,471 362,581 369,832 377,229 384,774 392,469 400,319 408,325 416,491 424,821 433,318 441,984 7,050,773 TCC TRWD 0 0 0 6,888 10,331 28,500 35,863 43,225 44,090 44,971 45,871 46,788 47,724 48,678 49,652 50,645 51,658 52,691 53,745 54,820 55,916 57,034 58,175 59,339 946,603 TRWD T Grapevine/ColleyvISD 0 0 0 454,609 681,331 1,881,143 2,367,104 2,853,066 2,910,127 2,968,971 3,027,697 3,088,251 3,150,016 3,213,016 3,277,276 3,342,822 3,409,678 3,477,872 3,547,429 3,618,378 3,690,745 3,764,560 3,839,851 3,916,648 62,480,532 Grapevine/Colleyville ISI n v 6% 46,509,048 0 0 0 796,679 1,195,019 3,296,604 4,148,226 4,999,849 5,099,846 5,201,843 5,305,879 5,411,997 5,520,237 5,630,642 5,743,255 5,858,120 5,975,252 6,094,788 6,216,683 6,341,017 6,467,837 6,597,194 6,729,138 6,863,721 109,493,855 REVENUE #5 -HOTEL REAL PROPERTY TAX 0 0 0 33,712,500 50,568,750 87,737,500 125,987,500 170,503,125 194,706,250 204,862,500 208,959,750 213,138,945 217,401,724 221,749,758 226,184,754 230,708,449 235,322,618 240,029,070 244,829,651 249,726,244 254,720,769 259,815,185 265,011,488 270,311,718 BUSINESS PERSONAL PROPERTY 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 City of Grapevine 0 0 0 112,073 168,110 291,674 418,832 566,819 647,280 681,043 694,664 708,557 722,728 737,183 751,926 766,965 782,304 797,950 813,909 830,187 846,791 863,727 881,002 898,622 13,982,345 City of Grapevine 562,687 573,941 585,419 597,128 609,070 621,252 633,677 646,350 659,277 672,463 685,912 699,630 713,623 11,103,809 TarrantCounty Tarrant County 0 0 0 89,001 133,502 231,627 332,607 450,128 514,025 540,837 551,654 Tarrant County Hospital 0 0 0 76,830 115,245 199,951 287,122 388,572 443,730 466,875 476,213 485,737 495,452 505,361 515,468 525,778 536,293 547,019 557,959 569,119 580,501 592,111 603,953 616,032 9,585,321 Tarrant County Hospital TCC 0 0 0 50,222 75,332 130,703 187,684 253,999 290,054 305,184 311,287 317,513 323,863 330,341 336,947 343,686 350,560 357,571 364,723 372,017 379,458 387,047 394,788 402,683 6,265,661 TCC TRWD 0 0 0 6,743 10,114 17,548 25,198 34,101 38,941 40,973 41,792 42,628 43,480 44,350 45,237 46,142 47,065 48,006 48,966 49,945 50,944 51,963 53,002 54,062 841,198 TRWD Grapevine/Colleyville tSD 0 0 0 445,039 667,558 1,158,223 1,663,161 2,250,812 2,570,317 2,704,390 2,758,478 2,813,647 2,869,920 2,927,319 2,985,865 3,045,582 3,106,494 3,168,624 3,231,996 3,296,636 3,362,569 3,429,820 3,498,417 3,568,385 55,523,251 Grapevine/Colleyville ISI n v P 6% 40,748,063 0 0 0 779,907 1,169,860 2,029,725 2,914,602 3,944,430 4,504,346 4,739,301 4,834,087 4,930,769 5,029,385 5,129,972 5,232,572 5,337,223 5,443,968 5,552,847 5,663,904 5,777,182 5,892,726 6,010,580 6,130,792 6,253,408 97,3017584 REVENUE #6 -INDUSTRIAL REAL PROPERTY TAX 0 0 0 0 6,250,000 9,375,000 18,750,000 21,875,000 25,000,000 25,500,000 26,010,000 26,530,200 27,060,804 27,602,020 28,154,060 28,717,142 29,291,485 29,877,314 30,474,860 31,084,358 31,706,045 32,340,166 32,986,969 33,646,708 BUSINESS PERSONAL PROPERTY 0 0 0 0 3,125,000 4,687,500 9,375,000 10,937,500 12,500,000 12,750,000 13,005,000 13,265,100 13,530,402 13,801,010 14,077,030 14,358,571 14,645,742 14,938,657 15,237,430 15,542,179 15,853,022 16,170.083 16,493,485 16,823,354 124,665 127,158 129,701 132,295 134,941 137,640 140,393 143,200 146,064 148,986 151,965 155,005 158,105 161,267 164,492 167,782 2,604,155 City of Grapevine City of Grapevine 0 0 0 0 31,166 46,749 93,498 109,082 Tarrant County 0 0 0 0 24,750 37,125 74,250 86,625 99,000 100,980 103,000 105,060 107,161 109,304 111,490 113,720 115,994 118,314 120,680 123,094 125,556 128,067 130,628 133,241 2,068,039 Tarrant County Tarrant County Hospital 0 0 0 0 21,365 32,048 64,096 74,779 85,461 87,171 88,914 90,692 92,506 94,356 96,243 98,168 100,132 102,134 104,177 106,260 108,386 110,553 112,764 115,020 1,785,227 Tarrant County Hospital TCC 0 0 0 0 13,966 20,949 41,898 48,881 55,864 56,981 58,121 59,283 60,469 61,678 62,912 64,170 65,453 66,762 68,098 69,460 70,849 72,266 73,711 75,185 1,166,954 TCC TRWD 0 0 0 0 1,875 2,813 5,625 6,563 7,500 7,650 7,803 7,959 8,118 8,281 8,446 8,615 8,787 8,963 9,142 9,325 9,512 9,702 9,896 10,094 156,670 TRWD Grapevine/Colleyville ISD 0 0 0 0 123,759 185,639 371,278 433,158 495,038 504,938 515,037 525,338 535,845 546,561 557,493 568,642 580,015 591,616 603,448 615,517 627,827 640,384 653,191 666,255 10,340,980 Grapevine/Colleyville IS n v 6% 0 0 0 D 216,882 325,323 650,645 759,086 867,527 884,878 902,575 920,627 939,039 957,820 976,977 996,516 1,016,446 1,036,775 1,057,511 1,078,661 1,100,234 1,122,239 1,144,684 1,1 18,122,024 67,577 1 1 81 2015 2016 2017 2018 2019 2020 2021 zuzz zuza zvzr ---- ---- - Cityof Grapevine. $ 96,734,143 870,145 986,791 1,054,427 1,504,817 1,746,185 4,311,088 5,845,574 8,004,229 9,187,893 10,154,292 11,352,024 11,891,591 12,342,389 12,589,745 12,842,049 13,099,398 13,361,895 13,629,641 13,902,742 14,181,305 14,465,440 14,755,257 15,050,871 15,352,397 232,482,187 Cityof Grapevine Tarrant County $ 34,257,129 691,009 783,641 837,353 1,195,022 1,386,699 1,953,631 2,437,246 2,880,494 3,135,540 3,426,509 3,633,167 3,793,634 3,883,608 3,961,684 4,041,321 4,122,551 4,205,406 4,289,918 4,376,120 4,464,047 4,553,731 4,645,210 4,738,518 4,833,692 78,269,751 Tarrant County Tarrant County Hospital $ 29,572,337 596,511 676,475 722,842 1,031,598 1,197,063 1,686,465 2,103,943 2,486,576 2,706,743 2,957,921 3,136,318 3,274,840 3,352,510 3,419,909 3,488,655 3,558,777 3,630,301 3,703,256 3,777,669 3,853,571 3,930,991 4,009,960 4,090,507 4,172,666 67,566,066 Tarrant County Hospital TCC $ 19,330,623 389,923 442,193 472,502 674,327 782,487 1,102,396 1,375,290 1,625,406 1,769,323 1,933,511 2,050,125 2,140,673 2,191,443 2,235,500 2,280,438 2,326,275 2,373,028 2,420,716 2,469,359 2,518,974 2,569,581 2,621,200 2,673,852 2,727,557 44,166,079 TCC TRWD $ 2,595,237 52,349 59,367 63,436 90,532 105,053 148,002 184,640 218,219 237,541 259,584 275,240 287,397 294,213 300,128 306,161 312,315 318,591 324,994 331,524 338,185 344,980 351,910 358,979 366,189 5,929,527 TRWD ra evi ne/Cotte 'lle ISD $ 171 298,621 3 455,305 3,918,500 4,187,083 5,975,561 6,934,022 9,768,897 12 187 153 14 403,561 15,678,888 17,133,842 18,167,211 18,969,609 19,419,510 19,809,920 20,208,137 20,614,319 21,028,624 21,451,216 21 882,259 22,321,923 22,770,381 23,227 808 23 694,383 24,170,290 391,378,402 Grapevine/Colleyville ISI $ 353,788,090 6,055,241 6,866,966 7,337,643 10,471,561 12,151,509 18,970,479 24,133,847 29,618,486 32,715,929 35,865,659 38,614,085 40,357,744 41,483,673 42,316,885 43,166,761 44,033,635 44,917,846 45,819,741 46,739,674 47,678,006 48,635,104 49,611,344 50,607,109 51,622,790 819,792,012 Amended Project and Financing Plan, TIRZ #-I DAVID PETTIT 17D 20 Econorwc Dem oprr eni Financial Feasibility Analysis TAXABLE BASE YEAR GROWTH 2.00 Tarrant County 7,647,325 DISCOUNTRATE 6.00% TCC 7,647,325 TRWD 2015-2017 Grapevine/Colleyville ISD 7,647,325 0.0000000 REAL PROPERTY TAX Cityof Grapevine 0.3324390 100% 0.3324390 Tarrant County 0.2640000 0% 0.0000000 Tarrant County Hospital 0.2278970 0% 0.0000000 TCC 0.1489700 0% 0.0000000 TRWD 0.0200000 0% 0.0000000 Grapevine/Colleyville ISD 1.3201000 0% 0.0000000 1,023,877 2.3934060 1,066,269 0.3324390 1,110,374 BASE YEAR 0 0 REVENUE YEAR 1998 2015 2016 BASE YEAR City of Grapevine 7,647,325 Tarrant County 7,647,325 Tarrant County Hospital 7,647,325 TCC 7,647,325 TRWD 7,647,325 Grapevine/Colleyville ISD 7,647,325 TAXABLE VALUE Cityof Grapevine Tarrant County Tarrant County Hospital TCC TRWD Grapevine/Colley011e ISD TAXABLE VALUE INCREMENT City of Grapevine Tarrant County Tarrant County Hospital TCC TRWD Grapevine/Colleyville ISD 0 0 0 0 C C ESTIMATE OF GENERAL IMPACT OF PROPOSED ZONE PROPERTY VALUES AND TAX REVENUES REALPROPERTYTAX .. 0.3324390 100% 0.3324390 0.2640000 0% 0.0000000 0.2278970 0% 0.0000000 0.1489700 0% 0.0000000 0.0200000 0% 0.0000000 1.3201000 0% 0.0000000 Cityof Grapevine Tarrant Count Tarrant County Hospita TCC TRW[ Grapevine/Colleyville IS[ 2.3134UbU U.3J24JNV 0 1 2 3 4 5 6 7 2017 2018 2019 2020 2021 2022 2023 2024 BUSINESS PERSONAL PROPERTY TA 0.3324390 0% 0.0000000 0.2640000 0% 0.0000000 0.2278970 0% 0.0000000 0.1489700 0% 0.0000000 0.0200000 0% 0.0000000 1.3201000 0% 0.0000000 2.J7J4VOU --u- 8 8 9 10 2025 2026 2027 I- 0 SALES TAX _ 0.0200000 n.noi 0.0000000 11 12 13 14 15 16 17 18 19 20 21 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 7,647,325 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476.,174 424,805,698 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 274,780,908 280,276,526 285,882,057 291,599,698 297,431,692 303,380,326 309,447,932 315,636,891 321,949,629 328,388,621 334,956,393 341,655,521 348,488,632 355,458,404 362,567,573 369,818,924 377,215,302 384,759,609 392,454,801 400,303,897 408,309,975 416,476,174 424,805,698 722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 722 267,133,583 272,629,201 278,234,732 283,952,373 289,784,367 295,733,001 301,800,607 307,989,566 314,302,304 320,741,296 327,309,068 334,008,196 340,841,307 347,811,079 354,920,248 362,171,599 369,567,977 377,112,284 384,807,476 392,656,572 400,662,650 408,828,849 417,158,373 TOTALS REVENUE TAXABLE VALUE GROWTH 906,326 924,961 943,968 963,356 983,132 1,003,303 1,023,877 1,044,863 1,066,269 1,088,1.03 1,110,374 1.133,089 1,156,260 1,179,893 1,204,000 1,228,588 1,253,666 1,279,250 1,305,344 1,331,959 1,359,107 1,386,797 26,634,688 City of Grapevine City of Grapevine 870,145 888,056 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Tarrant County 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Hospital Tarrant County Hospital 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TCC TCC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TRWD TRWD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Grapevine/Colleyville ISD Grapevine/Colleyville ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 nv 6% 13,176,031 870,145 888,056 906,326 924,961 943,968 963,356 983,132 1,003,303 1,023,877 1,044,863 1,066,269 1,088,103 1,110,374 1,133,089 1,156,260 1,179,893 1,204,000 1,228,588 1,253,668 1,279,250 1,305,344 1,331,959 1,359,107 1,356,797 26,634,688 REVENUE #1 -RETAIL REAL PROPERTY TAX 0 0 0 0 0 48,150,000 72,225,000 113,175,000 137,362,500 153,675,000 178,425,000 186,862,500 195,300,000 199,206,000 203,190,120 207,253,922 211,399,001 215,626,981 219,939,520 224,338,311 228,825,077 233,401,579 238,069,610 242,831,002 BUSINESS PERSONAL PROPERTY 0 0 0 0 0 0 0 0 0 0 4,627,500 160,069 6,941,250 240,104 10,942,500 376,238 13,098,750 456,647 14,598350 510,876 16,942,500 593,154 17,786,250 621,204 18,630,000 649,253 19,002,600 662,238 19,382,652 675,483 19,770,305 688,993 20,165,711 702,773 20,569,025 716,828 20,980,406 731,165 21,400,014 745,788 21,828,014 760,704 22,264,575 775,918 22,709,866 791,436 23,164,063 807,265 11,666,136 Cityof Grapevine Cityof Grapevine 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Tarrant County 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Hospital Tarrant County Hospital 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TCC TCC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TRWD TRWD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Grapevine/Colleyville ISD Grapevine/Colleyville ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 n va`, 6% 4,667,685 0 0 0 0 0 160,069 240,104 376,238 456,647 510,876 593,154 621,204 649,253 662,238 675,483 688,993 702,773 716,828 731,165 745,788 760,704 775,918 791,436 807,265 11,666,136 REVENUE #2 - SALES TAX Sales 0 0 0 0 0 92,550,000 138,825,000 218,850,000 261,975,000 291,975,000 338,850,000 355,725,000 372,600,000 380,052,000 387,653,040 395,406,101 403,314,223 411,380,507 419,608,117 428,000,280 436,560,285 445,291,491 454,197,321 463,281,267 n v fi 6%0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 City of Gra evine City of Grapevine 0 0 0 0 0 0 0 REVENUE #3 -OFFICE REAL PROPERTY TAX 0 28,700,000 43,050,000 102,275,000 124,712,500 147,150,000 206,375,000 235,987,500 265,600,000 333,500,000 367,450,000 401,400,000 409,428,000 417,616,560 425,968,891 434,488,269 443,178,034 452,041,595 461,082,427 470,304,076 479,710,157 489,304,360 499,090,447 509,072,256 BUSINESS PERSONAL PROPERTY 0 1,000,000 1,500,000 4,000,000 5,000,000 6,000,000 8,500,000 9,750,000 11,000,000 13,875,000 15,312,500 16,750,000 17,085,000 17,426,700 17,775,234 18,130,739 18,493,353 18,863,221 19,240,485 19,625,295 20,017,801 20,418,157 20,826,520 21,243,050 0 95,410 143,115 340,002 414,593 489,184 686,071 784,514 882,958 1,108,684 1,221,547 1,334,410 1,361,098 1,388,320 1,416,087 1,444,408 1,473,297 1,502,763 1,532,818 1,563,474 1,594,744 1,626,639 1,659,171 1,692,355 25,755,662 Cityof Grapevine Cityof Grapevine 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Tarrant County 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Hospital Tarrant County Hospital 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TCC TCC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TRWD TRWD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Grapevine/Colleyville ISD Grapevine/Colleyville ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 n v 6% 1n77aaan n 95410 143.115 340.002 414.593 489.164 686.071 784,514 882,958 1,108,684 1,221,547 1,334,410 9,361,098 1,388,320 1,416,087 1,444,408 1,473,297 1,502,763 1,532,818 1,563,474 1,594,744 1,626,639 1,659,171 1,692,355 25,755,662 Amended Project and Financing Plan, TIRZ #1 21 i DAVID PETTIT Econurn((. Lit}vdaptneru E Financial Feasibility Analysis TAXABLE BASE YEAR GROWTH 2.00% 100% 0.3324390 DISCOUNTRATE 6.00% 0.0000000 0.2278970 0% 2015-2017 0.1489700 0% 0.0000000 REAL PROPERTY TAX Cityof Grapevine 0.3324390 100% 0.3324390 Tarrant County 0.2640000 0% 0.0000000 Tarrant County Hospital 0.2278970 0% 0.0000000 TCC 0.1489700 0% 0.0000000 TRWD 0.0200000 0% 0.0000000 Grapevine/Colleyville ISD 1.3201000 0% 0.0000000 2023 2.3134060 2025 0.3324390 ESTIMATE OF GENERAL IMPACT OF PROPOSED ZONE PROPERTY VALUES AND TAX REVENUES REALPROPERTYTAX 0.3324390 100% 0.3324390 0.2640000 0% 0.0000000 0.2278970 0% 0.0000000 0.1489700 0% 0.0000000 0.0200000 0% 0.0000000 1.3201000 0% 0.0000000 2.J1J4()W U.JJ24J9U City of Grapemm Tarrant Count Tarrant County Hospita TCC TI Grapevine/CoIIeyviII( ISC BUSINESS PERSONAL PROPERTYT:° 0.3324390 0% 0.0000000 0.2640000 0% 0.0000000 0.2278970 0% 0.0000000 0.1489700 0% 0.0000000 0.0200000 0% 0.0000000 1.3201000 0% 0.0000000 2.J1 J4UtiU U.000UUUU SALES TAX 0.0200001 0.00% 1 0.0000000 Amended Project and Financing Plan, TIRZ #1 22 0 DAVID PETTIT Ecoourrirt Det "Op"toer)f 0 BASE YEAR 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 REVENUE YEAR 1998 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 TOTALS BASE YEAR EVENUE #4 -COMMERCIAL 0 0 0 33,250,000 49,875,000 137,400,000 172,850,000 208,300,000 212,466,000 216,715,320 221,049,626 225,470,619 229,980,031 234,579,632 239,271,225 244,056,649 248,937,782 253,916,538 258,994,868 264,174,766 269,458,261 274,847,426 280,344,375 285,951,262 REAL PROPERTY TAX BUSINESS PERSONAL PROPERTY 0 0 0 1,187,500 1,781,250 5,100,000 6,462,500 7,825,000 7,981,500 8,141,130 8,303,953 8,470,032 8,639,432 8,812,221 8,988,465 9,168,235 9,351,599 9,538,631 9,729,404 9,923,992 10,122,472 10,324,921 10,531,420 10,742,048 City of Grapevine 0 0 0 110,536 165,804 456,771 574,621 692,470 706,320 720,446 734,855 749,552 764,543 779,834 795,431 811,339 827,566 844,118 861,000 878,220 895,784 913,700 931,974 950,614 15,165,499 City of Grapevine Tarrant County 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Tarrant County Hospital 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Hospital TCC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TCC TRWD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TRWD Grapevine/Colleyville ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Grapevine/Colleyville ISD n v 6% 6,442005 0 0 0 110,536 165,804 456,771 574,621 692,470 706,320 720,446 734,855 749,552 764,543 779,834 795,431 811,339 827,566 844,118 861,000 878,220 895,784 913,700 931,974 950,614 15,165,499 EVENUE#5-HOTEL 0 0 0 33,712,500 50,568,750 87,737,500 125,987,500 170,503,125 194,706,250 204,862,500 208,959,750 213,138,945 217,401,724 221,749,758 226,184,754 230,708,449 235,322,618 240,029,070 244,829,651 249,726,244 254,720,769 259,815,185 265,011,488 270,311,718 REAL PROPERTY TAX BUSINESS PERSONAL PROPERTY 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 City of Gra pevi ne 0 0 0 112,073 168,110 291,674 418,832 566,819 647,280 681,043 694,664 708,557 722,728 737,183 751,926 766,965 782,304 797,950 813,909 830,187 846,791 863,727 881,002 898,622 13,982,345 City of Grapevine Tarrant County 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Tarrant County Hospital 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Hospital TCC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TCC TRWD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TRWD Grapevine/ColleyWle ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Grapevine/Colleyvi Ile ISD n v 6% 5,855,542 0 0 0 112,073 168,110 291,674 418,832 566,819 647,280 681,043 694,664 708,557 722,728 737,183 751,926 766,965 782,304 797,950 813,909 830,187 846,791 863,727 881,002 898,622 13,982,345 EVENUE#6-INDUSTRIAL REAL PROPERTY TAX 0 0 0 0 6,250,000 9,375,000 18,750,000 21,875,000 25,000,000 25,500,000 26,010,000 26,530,200 27,060,804 27,602,020 28,154,060 28,717,142 29,291,485 29,877,314 30,474,860 31,084,358 31,706,045 32,340,166 32,986,969 33,646,708 BUSINESS PERSONAL PROPERTY 0 0 0 0 3,125,000 4,687,500 9,375,000 10,937,500 12,500,000 12,750,000 13,005,000 13,265,100 13,530,402 13,801,010 14,077,030 14,358,571 14,645,742 14,938,657 15,237,430 15,542,179 15,853,022 16,170,083 16,493,485 16,823,354 Cityof Grapevine 0 0 0 0 20,777 31,166 62,332 72,721 83,110 84,772 86,467 88,197 89,961 91,760 93,595 95,467 97,376 99,324 101,310 103,337 105,403 107,511 109,662 111,855 1,736,103 City of Grapevine Tarrant County 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Tarrant County Hospital 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Hospital TCC o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TCC TRWD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TRWD Grapevine/Colleyville ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Grapevine/Colleyvi Ile ISD n v 6% 723,724 0 0 0 0 20,777 31,166 62,332 72,721 83,110 84,772 86,467 88,197 89,961 91,760 93,595 95,467 97,376 99,324 101,310 103,337 105,403 107,511 109,662 111,855 1,736,103 EVENUE A, 1, 2, 3, 4, 5,6 870,145 983,466 1,049,441 1,487,572 1,713,253 2,392,221 2,965,092 3,496,066 3,800,191 4,150,684 4,396,957 4,590,023 4,697,957 4,792,425 4,888,782 4,987,066 5,087,316 5,189,571 5,293,870 5,400,256 5,508,770 5,619,454 5,732,351 5,847,507 4,940,434 Junning Total 870,145 1,853,611 2,903,052 4,390,624 6,103,877 8,496,098 11,461,189 14,957,255 18,757,446 22,908,130 27,305,087 31,895,110 36,593,067 41,385,492 46,274,274 51,261,340 56,348,656 61,538,226 66,832,097 72,232,353 77,741,123 83,360,576 89,092,927 94,940,434 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 ET PRESENT VALUE @ 6% 41,643;126' ROSS 94,940,434 Cityof Grapevine $ 41,643,126 870,145 983,466 1,049,441 1,487,572 1,713,253 2,392,221 2,965,092 3,496,066 3,800,191 4,150,684 4,396,957 4,590,023 4,697,957 4,792,425 4,888,782 4,987,066 5,087,316 5,189,571 5,293,870 5,400,256 5,508,770 5,619,454 5,732,351 5,847,507 34,940,434 Cityof Grapevine Tarrant County $ - 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Tarrant County Hospital $ - 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Tarrant County Hospital TCC $ - 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TCC TRWD $ - 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TRWD Gra evine/Colle isle ISD $ - 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Grapevine/Colleyville ISD $ 41,643,126 870,145 983,466 1,049,441 1,487,572 1,713,253 2,392,221 2,965,092 3,496,066 3,800,191 4,150,684 4,396,957 4,590,023 4,697,957 4,792,425 4,888,782 4,987,066 5,087,316 5,189,571 5,293,870 5,400,256 5,508,770 5,619,454 5,732,351 5,847,507 P4,940,434 Amended Project and Financing Plan, TIRZ #1 22 0 DAVID PETTIT Ecoourrirt Det "Op"toer)f 0 Financial Feasibility Analysis 20 YEAR - RETAIL: INPUT & OUTPUT ► INPUT INFLATION RATE 1 2.00 DISCOUNT RATE 1 6.001/ REAL PROPERTY TAX PARTICIPATION Ci of Gra evine 0.33243900 100% 0.3324390 Tarrant Coun 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Gra evine/Colle ville ISD 1.32010000 01% 0.0000000 I 2.3134utiuu 1 1 6.Ju439ul PERSONAL PROPERTY TAX PARTICIPATION City of Grapevine 0.33243900 0% 0.0000000 Tarrant County 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Grape vine/Col le ville ISD 1.32010000 0% 0.0000000 1 2.313406001 1 u.uuuuuuul Sales Tax Rate 1 0.02000001 0.00% 1 0.0000000 Retail Year AREA SF REAL PROPERTY $ 1 SF TAX VALUE PERSONAL PROPERTY $1 SF TAX VALUE SALES $1 SF TAX VALUE vine Existing Mall NIA $ $ $ + $ $ + Destination Entertainment Phase One 2020 125,000 $ 180.00 $ 22,500,000 $ 15.00 $ 300.00 $ 37,500,000 Destination Entertainment Phase Two 2023 175,000 $ 180.00 $ 31,500,000 $ 15.00 $ 300.00 $ 52,500,000 763,010 Retail Commercial 2020 192,000 $ 150.00 $ 28,800,000 $ 15.00 0 $ W000$ 300.00 $ 57,600,000 $ Destination Entertainment 2020 300,000 $ 150.00 $ 45,000,000 $ 15.00 0 $ 300.00 $ 90,000,000 Destination Entertainment Phase One 2022 225 000 $ 150.00 $ 33 750 000 $ 15.00 0 $ 300.00 $ 67,500,000 Destination Entertainment Phase Two 2025 225,000 $ 150.00 $ 33,750,000 $ 15.00 0 $ 300.00 $ 67 500,000 TOTAL 1,242,000 195,300,000 18,630,000 372,600,000 OUTPUT10, TOTAL TAX R City of Grape EVENUE TOTAL TOTAL REAL PROPERTY PERSONAL PROPERTY SALES SALES vine 82.8% $ 146,701,050 = $ 11,666,136 + $ 1,113,022 + $ 133,921,893 Tarrant County 5.7% $ 10,148,321 = $ 9,264,436 + $ 883,884 + $ - Tarrant County Hospital 4.9% $ 8,760,499 = $ 7,997,489 + $ 763,010 + $ TCC 3.2% $ 5,726,497 = $ 5,227,739 + $ 498,759 + $ TRWD 0.4% $ 768,812 = $ 701,851 + $ 66,961 + $ Grapevine/Colle ville ISD 2.9% $ 5,121,608 $ 701,851 + $ 4,419,757 + $ 100.0"/o ww'nafx:f I$ 36,609,w'iI 15 r,/4D, 3Y31 12 100.0% 20.1% 4.4% 75.6% TOTAL PARTICIPATION TOTAL REAL PROPERTY PERSONAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 100.0% $ 11,666,136 - $ 11,666,136 + $ + $ Tarrant County 0.0% $ $ + $ + $ Tarrant County Hospital 0.0% $ - $ + $ + $ TCC 0.0% $ $ + $ + $ TRWD 0.0% $ - $ + $ + $ Grapevine/Colle ville ISD 0.0•/ $ $ + $ + $ 100.0% Wtlfwn6:ltM 1$ 11,666,1361 1$ 1 1 a I 100.0% 100.0•/ 0.0•/ 0.0% NET BENEFIT TOTAL REAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 81.6% $ 135,034,914 $ + $ 1,113,022 + $ 133,921,893 Tarrant County 6.1% $ 10,148,321 - $ 9,264,436 + $ 883,884 + $ Tarrant County Hospital 5.3% $ 8,760,499 $ 7,997,489 + $ 763,010 + $ - TCC 3.591. $ 5,726,497 $ 5,227,739 + $ 498,759 + $ TRWD 0.5% $ 768,812 $ 701,851 + $ 66,961 + $ Grapevine/Colle ville ISD 3.1% $ 5,121,608 - $ 701,851 + $ 4,419,757 + $ 100.0% REEM.7.1:I2= 1 $ 23,893,3871 I $ r. 146, 3931 1 $ 1J4'yz l'OU41 100.0% 14.4% 4.7% 80.9% Amended Project and Financing Plan, TIRZ #1 23 -0 i DAVID PETTIT Financial Feasibility Analysis Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Calendar Year 0 0 0 1 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 % OCCUPIED 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 195,300,000 100% 199,206,000 100% 203,190,120 100% 207,253,922 100% 211,399,001 100% 215,626,961 100% 219,939,520 100% 224,338,311 100% 228,825,077 100% 233,401,579 100% 238,069,610 100% 242,831,002 REAL PROPERTY Taxable Value - - - - - 48,150,000 72,225,000 113,175,000 137,362,500 153,675,000 178,425,000 186,862,500 GROSS Cityof Grapevine PV 4,687,685 - - - - - 160,069 240,104 376,238 456,647 510,876 593,154 621,204 649,253 662,238 675,483 688,993 702,773 716,828 569,255 731,165 580,640 745,788 592,253 760,704 604;098 775,918 616,180 791,436 628,504 807,265 641,074 11,666,136 9,264,436 Tarrant Couty 3,706,752 - - - - - 127,116 190,674 298,782 362,637 405,702 471,042 493,317 515,592 525,904 536,422 547,150 472,325 558,093 481,772 491,407 501,236 511,260 521,485 531,915 542,553 553,405 7,997,489 Tarrant Courty Hospital 3,199,839 - - - - - 109,732 164,599 257,922 313,045 350,221 406,625 425,854 445,083 453,984 296,757 463,064 302,692 308,746 314,921 321,220 327,644 334,197 340,881 347,698 354,652 361,745 5,227,739 TCC 2,091,647 71,729 107,594 168,597 204,629 228,930 265,800 278,369 37,373 290,938 39,060 39,841 40,638 41,451 42,280 43,125 43,988 44,868 45,765 46,680 47,614 48,566 701,851 TRWD 8Q,815 9,630 635,628 14,445 953,442 22,635 1,494,023 27,473 1,813,322 30,735 2,028,664 35,685 2,355,388 2,466,772 2,578,155 2,629,718 2,682,313 2,735,959 2,790,678 2,846,492 2,903,422 2,961,490 3,020,720 3,081,134 3,142,757 3,205,612 46,325,690 Grapevine/Colley0lie ISD S ', - - 1,113,905 1,670,857 2,618,197 3,177,752 3,555,127 4,127,695 4,32$888 4,518,082 4,608,444 4,700,612 4,794,625 4,890,517 4,988,328 5,088,094 5,189,856 5,293,653 5,399,526 5,507,517 5,617,667 Total - - - % OCCUPIED 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 19,002,600 100% 19,382,652 100% 19,770,305 100% 20,165,711 100% 20,569,025 100% 20,980,406 100% 21,400,014 100% 21,828,014 100% 22,264,575 100% 22,709,866 100% 23,164;063 100% PERSONAL PROPERTY Taxable Value - - - - - 4,627,500 6,941,250 10,942,500 13,098,750 14,598,750 16,942,500 17,786,250 18,630,000 GROSS City of Grapevine PV 445;437 - - - - 15,384 23,075 36,377 43,545 48,532 56,323 59,128 61,933 63,172 64,435 65,724 67,039 68,379 69,747 71,142 56,496 72,565 57,626 74,016 58,778 75,496 59,954 77,006 61,153 1,113,022 883,864 Tarrant Courcy 353,735 - - - - - 12,217 18,325 28,888 34,581 38,541 44,728 46,956 49,183 50,167 51,170 52,194 45,056 53,237 45,957 54,302 46,876 55,388 47,814 48,770 49,745 50,740 51,755 52,790 763,010 Tarrant County Hospital 305,361 - - - - - 10,546 15,819 24,938 29,852 33,270 38,611 40,534 42,457 27,753 43,306 28,308 44,172 28,874 29,452 30,041 30,642 31,255 31,880 32,517 33,168 33,831 34,508 498,759 TCC 199,606 6,894 10,340 16,301 19,513 21,748 25,239 3,389 26,496 3,557 3,726 3,801 3,877 3,954 4,033 4,114 4,196 4,280 4,366 4,453 4,542 4,633 66,961 TRWD 26,798 926 1,388 91,631 2,189 144,452 2,620 172,917 2,920 192,718 223,658 234,796 245,935 250,853 255,870 260,988 266,208 271,532 276,962 282,502 288,152 293,915 299,793 305,789 4,419,757 Gnapemrte/Colleyumlle ISD h 1,768,81061,088 I.. - - 107,053 160,579 253,144 303,027 337,728 391,949 411,468 430,988 439,607 448,399 457,367 466,515 475,845 485,362 495,069 504,971 515,070 525,371 535,879 Total - - - % OCCUPIED 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 387,653,040 100% 395,406,101 100% 403,314,223 100% 411,380,507 100% 419,.608,117 100% 428,000,280 100% 436,560,285 100% 445,291,491 100% 454,197,321 100% 463,281,267 SALES TAX Taxable Value - - - - - 92,550,000 138,825,000 218,850,000 261,975,000 291,975,000 338,850,000 355,725,000 372,600,000 380,052,000 GROSS PV 1,851,000 2,776,500 4,377,000 5,239,500 5,839,500 6,777,000 7,114,500 7,452,000 7,601,040 7,753,061 7,908,122 8,066,264 8,227,610 8,392,162 8,560,006 8,731,206 8,905,830 9,083,946 9,255,625 Total - - - - - SUMMARY GROSS City of Grapevine PV 58,709,365 - - - - - 2,026,453 3,039,679 4,789,615 5,739,692 6,398,908 7,426,478 7,794,832 8,163,187 8,326,450 8,492,979 8,662,839 8,836,096 9,012,818 9,193,074 9,376,936 9,564,474 9,755,764 674,959 9,950,879 688,458 10,149,897 702,227 146,701,050 10,148,321 Tanart Courty 4,060,487 - - - - - 139,333 208,999 327,670 397,218 444,243 515,770 540,273 564,775 576,071 587,592 599,344 611,331 527,729 623,557 538,284 636,029 549,049 648,749 560,030 661,724 571,231 582,655 594,309 606,195 8,760,499 Tarrant County Hospital 3,505,200 - - - - - 120,278 180,418 282,860 342,897 383,491 445,237 466,388 487,540 497,291 325,065 507,237 331,567 517,381 338,198 344,962 351,861 358,898 366,076 373,398 380,866 388,483 396,253 5,726,497 TCC 2,291,253 - 78,623 117,934 184,898 224,142 250,677 291,039 304,865 40,930 318,692 42,786 43,642 44,515 45,405 46,313 47,239 48,184 49,148 50,131 51,133 52,156 53,199 768,812 TRWD 'le 307,613 10,556 696,716 15,833 1,045,074 24,824 1,638,475 30,092 1,986,239 33,655 2,221,382 39,074 2,579,046 2,701,568 2,824,090 2,880,572 2,938,183 2,996,947 3,056,886 3,118,023 3.,180,384 3,243,992 3,308,871 3,375,049 3,442,550 3,511,401 50,745,447 Gra evine/Cole ISD 20,303,973- - 9,732,355 11,296,643 11,848,856 12,401,069 12,649,091 1$902,073 13,160,114 13,423,316 13,691,783 13,965,618 14,244,931 14,529,829 14,820,426 15,116,834 15,419,171 Total - - - - - 3,071,958 4,607,937 7,248,342 8,720,280 Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT Financial Feasibility Analysis TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS Calendar Year 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 TOTAL TAX REVENUE SUMMARY Cityof Grapevine TarrantCounty Tarrant County Hospital TCC TRWD Grapevine/Coleyvile ISD PV - - 4,060,487 - - 3,505,200 - - 2,291,253 - - 307,613 - - 20,303,973 - - 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 REAL PROPERTY Taxable Value - - - - - 48,150,000 72,225,000 113,175,000 137,362,500 153,675,000 178,425,000 186,862,500 195,300,000 199,206,000 203,190,120 207,253,922 211,399,001 215,626,981 219,939,520 224,338,311 228,825,077 233,401,579 238,069,610 242,831,002 PV Amended Project and Financing Plan, TIRZ #1 CAVI© PETTIT GROSS Cityof Grapevine - - - - - 160,069 240,104 376,238 456,647 510,876 593,154 621,204 649,253 662,238 675,483 688,993 702,773 716,828 731,165 745,788 760,704 775,918 791,436 807,265 -1-,966,136 Tarrant County _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ - _ _ Tarrant County Hospital - - - - - - - - - - - - - - - - - - - - - - - - - TCC TRWD Grapevine/Coleyvile ISD - - - - - - - - - - _ _ _ _ _ _ _ _ _ _ _ _ Total - - - - 160,069 240,104 376,238 456,647 510,876 593,154 621,204 649,253 662,238 675,483 688,993 702,773 716,828 731,165 745,788 760,704 775,918 791,436 807,265 PERSONAL PROPERTY Taxable Value - - - - - 4,627,500 6,941,250 10,942,500 13,096,750 14,598,750 16,942,500 17,786,250 18,630,000 19,002,600 19,382,652 19,770,305 20,165,711 20,569,025 20,980,406 21,400,014 21,828,014 22,264,575 22,709,866 23,164,063 PV GROSS City of Grapevine - - - - - - - - - - - - - - - - - - - - - - - - Tamara County Tarrant County Hospital - - - - - - - - - - - - - - - - - - - - - - - TCC TRWD Grapevine/Coleyvile ISD otal SALES TAX Taxable Value - - - - - 92,550,000 138,825,000 218,850,000 261,975,000 291,975,000 338,850,000 355,725,000 372,600,000 380,052,000 387,653,040 395,406,101 403,314,223 411,380,507 419,608,117 428,000,280 436,560,285 445,291,491 454,197,321 463,281,267 PV GROSS Total - - - _ _ _ _ _ _ _ _ _ _ _ _ _ _ SUMMARY PV GROSS City of Grapevine ,... - - - - - 160,069 240,104 376,238 456,647 510,876 593,154 621,204 649,253 662,238 675,483 688,993 702,773 716,828 731,165 745,788 760,704 775,918 791,436 807,265 ,to Tarrant County _ _ _ - _ _ _ _ _ _ _ _ _ - _ _ _ _ _ _ _ _ _ _ Tarrant County Hospital TCC TRWD Grapevine/Coleyvile ISD - - - - - - - - - - - - - - - - - - - - - - - lotal , TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY Cityof Grapevine TarrantCounty Tarrant County Hospital TCC TRWD Grapevine/Coleyvile ISD PV - - 4,060,487 - - 3,505,200 - - 2,291,253 - - 307,613 - - 20,303,973 - - - - - 1,866,384 - - - 139,333 - - - 120,278 - - - 78,623 - - - 10,556 - - - 696,716 2,799,575 208,999 180,418 117,934 15,833 1,045,074 4,413,377 327,670 282,860 184,898 24,824 1,638,475 5,283,045 5,888,032 6,833,323 7,173,628 7,513,933 7,664,212 397,218 444,243 515,770 540,273 564,775 576,071 342,897 383,491 445,237 466,388 487,540 497,291 224,142 250,677 291,039 304,865 318,692 325,065 30,092 33,655 39,074 40,930 42,786 43,642 1,986,239 2,221,382 2,579,046 2,701,568 2,824,090 2,880,572 7,817,496 587,592 507,237 331,567 44,515 2,938,183 7,973,846 599,344 517,381 338,198 45,405 2,996,947 8,133,323 611,331 527,729 344,962 46,313 3,056,886 8,295,990 623,557 538,284 351,861 47,239 3,118,023 8,461,909 636,029 549,049 358,898 48,184 3,180,384 8,631,148 648,749 560,030 366,076 49,148 3,243,992 8,803,771 661,724 571,231 373,398 50,131 3,308,871 8,979,846 674,959 582,655 380,866 51,133 3,375,049 9,159,443 9,342,632 688,458 702,227 594,309 606,195 388,483 396,253 52,156 53,199 3,442,550 3,511,401 GROSS 10,148,321 8,760,499 5,728,497 768,812 50,745,447 Amended Project and Financing Plan, TIRZ #1 CAVI© PETTIT 25 ECL1F!r,)m(c G`eU'[''op,uwtll Financial Feasibility Analysis 20 YEAR - OFFICE: INPUT & OUTPUT ► INPUT INFLATION RATE 1 2.00 DISCOUNT RATE 1 6.00 REAL PROPERTY TAX Year PARTICIPATION City of Grapevine 0.33243900 100% 0.3324390 Tarrant County 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Gra evine/Colle ille ISD 1.32010000 0% 0.0000000 2.31340600 1 0.33243901 PERSONAL PROPERTY TAX Year PARTICIPATION City of Grapevine 0.33243900 0% 0.0000000 Tarrant County 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Grapevine/Colleyville ISD 1.32010000 0% 0.0000000 1 2.313406001 O.000UUUUI Sales Tax Rate 1 0.02000001 0.00% 0.0000000 Office Year AEA SF REAL PROPERTY $ / SF TAX VALUE PERSONAL PROPER SALES $ / SF TAX VALUE $ / SF TAX VALUE Office • Kubota 2017 200,000 $ 287.00 $ 57,400,000 $ 10.00 $ 2,000,000 $ $ Office Phase One 2019 250,000 $ 287.00 $ 71,750,000 $ 10.00 $ 2,500,000 Office Phase Two 2022 350,000 $ 287.00 $ 100,450,000 $ 10.00 $ 3,500,000 Office Phase Three 2025 400,000 $ 287.00 $ 114,800,000 $ 10.00 $ 4,000,000 Office Phase One 2019 150,000 $ 120.00 $ 18,000, 000 $ 10.00 $ 1,500,000 Office Phase Two 2022 150,000 $ 120.00 $ 18,000,000 $ 10.00 $ 1,500,000 Office Phase Three 2025 175,000 $ 120.00 $ 21,000,000 $ 10.00 $ 1,750,000 10. TOTAL 1,675,000 401,400,000 16,750,000 OUTPUT TOTAL TAX REVENUE TOTAL TOTAL REAL PROPERTY PERSONAL PROPERTY SALES SALES City of Grapevine 14.4% $ 25,062,586 - $ 24,063,307 + $ 999,278 + $ Tarrant County 11.4% $ 19,902,967 - $ 19,109,410 + $ 793,558 + $ Tarrant County Hospital 9.9% $ 17,181,161 - $ 16,496,126 + $ 685,036 + $ TCC 6.4% $ 11,230,853 $ 10,783,064 + $ 447,789 + $ TRWD 0.9% $ 1,507,801 $ 1,447,683 + $ 60,118 + $ Grapevine/Colleyvi lie ISD 57.1% $ 99,522,376 $ 95,554,288 + $ 3,968,089 + $ 700.0% iMEWWWW"I'M 1. $ 115/,4bs,6115 1 170 6,9aJ,aor I I a I 100.0% 96.0% 4.0% 0.0% TOTAL PARTICIPATION TOTAL REAL PROPERTY PERSONAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 100.0% $ 24,063,307 = $ 24,063,307 + $ + $ Tarrant County 0.0% $ - $ + $ + $ Tarrant County Hospital 0.0% $ - $ + $ + $ TCC 0.0% $ $ + $ + $ TRWD 0.0% $ - $ + $ + $ Grapevine/Colleyvi lie ISD 0.0% $ - $ + $ + $ 700.0r E7 M AAli1FM 141 z4,Uas,sui 1 1 a I 1 a I 100.0% 100.0% 0.0% 0.0% NET BENEFIT TOTAL REAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 0.7% $ 999,278 - $ + $ 999,278 + $ Tarrant County 13.2% $ 19,902,967 - $ 19,109,410 + $ 793,558 + $ Tarrant County Hospital 11.4% $ 17,181,161 $ 16,496,126 + $ 685,036 + $ TCC 7.5% $ 11,230,853 $ 10,783,064 + $ 447,789 + $ TRWD 1.0% $ 1,507,801 $ 1,447,683 + $ 60,118 + $ Grapevine/Colleyvi Ile ISD 66.2% $ 99,522,376 - $ 95,554,288 + $ 3,968,089 + $ u¢oio l a a l I n 100.0% 95.4% 4.6% 0.0% Amended Project and Financing Plan, TIRZ #1 26 DAVID PETTIT LC17f1Ufv in LiI?I,'£',tJ;[ me"If Financial Feasibility Analysis Amended Project and Financing Plan, TIRZ #1 DAVID PETTlT 27 Ecoirwriitc Dclvetoperv)( TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Calendar Year 0 0 0 1 2 3 4 5 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 % OCCUPIED 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 1001/. 100% 100% 100% 409,428,000 100% 417,616,560 100% 425,968,891 100% 434,488,269 100% 443,178,034 100% 452,041,595 100% 461,082,427 100% 470,304,076 100% 479,710,157 100% 489,304,360 100% 499,090,447 REAL PROPERTY Taxable Value - - 28,700,000 43,050,000 102,275,000 124,712,500 147,150,000 206;375,000 235,987,500 265,600,000 333,500,000 367,450,000 401,400,000 GROSS City Grapevine PV 9,773,740 - - 95,410 143,115 340,002 414,593 489,184 686,071 784,514 882;958 1,108,684 1,221,547 1,334,410 1,361,098 1,388,320 1,416,087 1,444,408 1,473,297 1,502,763 1,532,818 1,563,474 1,241,603 1,594,744 1,266,435 1,626,639 1,291,764 1,659,171 1,317,599 , 19,109,410 of Tarrant County 7,761,626 - - 75,768 113,652 270,006 329,241 388,476 544,830 623,007 701,184 880,440 970,068 1,059,696 1,080,890 1,102,508 1,124,558 1,147,049 1,169,990 1,193,390 1,030,1.89 1,217,258 1,050,793 1,071,809 1,093,245 1,115,110 1,137,412 16,496,126 Tarrant County Hospital 6,700,195 - - 65,406 98,110 233,082 284,216 335,350 470,322 537,808 605,294 760,036 837,408 914,779 933,074 951,736 970,770 990,186 1,009,989 660,202 673,406 686,874 700,612 714,624 728,917 743,495 10,783,064 TCC. 4,379,733 42,754 64,132 152,359 185,784 219,209 307,437 351,551 395,664 496,815 547,390 597,966 609,925 622,123 634,566 647,257 88,636 90,408 92,216 94,061 95,942 97,881 99,818 1,447,683 TRWD 588,002 5,740 8,610 20,455 24,943 29,430 41,275 47,198 53,120 66,700 73,490 80,280 81,886 83,523 5,512,956 85,194 5,623,215 86,896 5,735,680 5,850,393 5,967,401 6,086,749 6,208,484 6,332,654 6,459,307 6,588,493 95,554,288 Grapevine/Colleyville ISD 6 38811,072 378,869 568,303 1,350,132 1,646,330 1,942,527 2,724,356 3,115,271 3,506,186 4,402,534 4,850,707 5,298,881 5,404,859 9,661,167 9,854,390 10,051,478 10,252,507 10,457,557 10,666,709 10,880,043 11,097,644 11,319,596 11,545,988 Total r - - - 663,948 995,921 2,366,036 2,885,106 3,404,177 4,774,292 5,459,349 6,144,406 7,715,209 8,500,610 9,286,012 9,471,732 %OCCUPIED 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 17,426,700 100% 17,775,234 100% 18,130,739 100% 18,493,353 100% 18,863,221 100% 19,240,485 100% 19,625,295 100% 20,017,801 100% 20,418,157 100% 20,826,520 PERSONAL PROPERTY Taxable Value - - 1,000,000 1,500,000 4,000,000 5,000,000 6,000,000 8,500,000 9,750,000 11,000,000 13,875,000 15,312,500 16,750,000 17,085,000 GROSS PV 404,375 - 3,324 4,987 13,298 16,622 19,946 28,257 32,413 36,568 46,126 50,905 55,684 56,797 57,933 59,092 60,274 61,479 62,709 63,963 65,242 66,547 52,847 67,878 53,904 69,235 54,982 999,278 793,558 City of Grapevine Tarrant County 321,126 - - - 2,640 3,960 10,560 13,200 15,840 22,440 25,740 29,040 36,630 40,425 44,220 45,104 46,006 46,927 47,865 48,822 49,799 50,795 43,848 51,811 44,725 45,620 46,532 47,463 685,036 Tarrant County Hospital 277,211 - - 2,279 3,418 9,116 11,395 13,674 19,371 22,220 25,069 31,621 34,897 38,173 38,936 39,715 40,509 41,319 42,146 27,550 42,989 28,101 28,663 29,236 29,821 30,417 31,025 447,789 TCC 181,205 1,490 2,235 5,959 7,449 8,938 12,662 14,525 16,387 20,670 22,811 24,952 25,452 25,961 26,480 27,009 3,699 3,773 3,848 3,925 4,004 4,084 4,165 60,118 TRWD 24,328 200 300 800 1,000 1,200 1,700 1,950 2,200 2,775 3,063 3,350 3,417 3,485 3,555 234,651 3,626 239,344 244,131 249,013 253,994 259,074 264,255 269.540 274.931 3.968.089 Grapevine/Collevville ISD 1.605.754 13 201 19,802 52,804 66,005 79,206 112,209 128,710 145,211 183,164 202 140 221,117 225,539 230,050 403,150 411,213 419,438 427,826 436,383 445,111 454,013 463,093 472,355 481,802 Total - 23,134 34,701 92,536 115,670 138,804 196,640 225,557 254,475 320,985 354,240 387,496 395,245 %OCCUPIED 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% SALES TAX Taxable Value - - - - - - - - GROSS PV � Total - - - SUMMARY GROSS City of Grapevine PV 10,178.115 - - 98,734 148,102 353,300 431,215 509,130 714,328 816,927 919,526 1,154,810 1,272,452 1,390,094 1,417,896 1,446,253 1,475,179 1,504,682 1,534,776 1,565,471 1,243,189 1,596,781 1,268,052 1,628,716 1,293,414 1,661,291 1,319,282 1,694,516 1,345,667 1,728,407 1,372,581 25,0 ,5 19,902,967 Tarrant County 8.082,753 - - 78,408 117,612 280,566 342,441 404,316 567,270 648,747 730,224 917,070 1,010,493 1,103,916 1,125,994 1,148,514 1,171,484 1,194,914 1,218,812 1,052,135 1,073,178 1,094,642 1,116,534 1,138,865 1,161,642 1,184,875 17,181,161 TartaM County Hospital 6977,406 - - 67,685 101,528 242,198 295,611 349,024 489,694 560,028 630,363 791,657 872,304 952,951 972,010 991,451 1,011,280 1,031,505 687,752 701,507 715,537 729,848 744,445 759,334 774,520 11,230,853 TCC 4,560,938 44,244 66,366 158,318 193,233 228,148 320,099 366,075 412,051 517,485 570,201 622,918 635,376 648,084 661,046 674,267 92,334 94,181 96,065 97,986 99,946 101,945 103,983 1,507,801 TRWD 612,330 5,940 8,910 21,255 25,943 30,630 42,975 49,148 55,320 69,475 76,553 83,630 85,303 87,009 88,749 90,524 Granevine/ColleVille ISD 4 41 2 - 1 1733 8 4,970,931 1 5,684,906 6,398,881 8,036,194 8,854;851 8 9,673,507 9,866,977 43 10,064,317 7 10,265,603 10,470,915 10,680,334 10,893,940 11,111,819 11,334,055 11,560,737 11,791,951 12,027,790 Total - 687,082 1,030,622 2,458,572 3,000,777 3,542,981 Amended Project and Financing Plan, TIRZ #1 DAVID PETTlT 27 Ecoirwriitc Dclvetoperv)( Financial Feasibility Analysis TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS Calendar Year 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 PARTICIPATION REAL PROPERTY Taxable Value I PV City of Grapevine 9,773.740 Tarrant County Tamara County Hospital - TCC TRWD Total PERSONAL PROPERTY Taxable Value City of Grapevine Tarrant County Tarrant County Hospital TCC TRWD 11, ISD Total SALES TAX Taxable Value Total SUMMARY PV City of Grapevine 9.773,740 Tarrant County - Tarrara County Hospital - TCC TRWD Total SUMMARY City of Grapevine 404,375 Tarrant County 8,082,753 Tarrant County Hospital 6,977,406 TCC 4,560,938 TRW D 612,330 T-1 28,700,000 43,050,000 102,275,000 124,712,500 147,150,000 206,375,000 235,987,500 265,600,000 333,500,000 367,450,000 401,400,000 409,428,000 417,616,560 425,968,891 434,488,269 443,178,034 452,041,595 461,082,427 470,304,076 479,710,157 489,304,360 499,090,447 95,410 143,115 340,002 414,593 489,184 686,071 784,514 882,958 1,108,684 1,221,547 1,334,410 1,361,098 1,388,320 1,416,087 1,444,408 1,473,297 1,502,763 1,532,818 1,563,474 1,594,744 1,626,639 1,659,171 24,063,307 95,410 143,115 340,002 414,593 489,184 686,071 784,514 882,958 1,108,684 1,221,547 1,334,410 1,361,098 1,388,320 1,416,087 1,444,408 1,473,297 1,502,763 1,532,818 1,583,474 1,594,744 1,0a1,0Ja 1,000,000 1,500,000 4,000,000 5,000,000 6,000,000 8,500,000 9,750,000 11,000,000 13,875,000 15,312,500 16,750,000 17,085,000 17,426,700 17,775,234 18,130,739 18,493,353 18,863,221 19,240,485 19,625,295 20,017,801 20,418,157 20,826,520 95,410 143,115 340,002 414,593 489,184 686,071 784,514 882,958 1,108,684 1,221,547 1,334,410 1,361,098 1,388,320 1,416,087 1,444,408 1,473,297 1,502,763 1,532,818 1,563,474 1,594,744 1,626,639 1,659,171 24,063,307 95,410 143,115 340,002 414,593 489,184 686,071 784,514 882,958 1,108,684 1,221,547 1,334,410 1,361,098 1,388,320 1,416,087 1,444,408 1,473,297 1,502,763 1,532,818 1,563,474 1,594,744 1,626,639 1,659,171 3,324 4,987 13,298 16,622 19,946 28,257 32,413 36,568 46,126 50,905 55,684 56,797 57,933 59,092 60,274 61,479 1,218,812 62,709 1,243,189 63,963 1,268,052 65,242 1,293,414 66,547 1,319,282 67,878 1,345,667 69,235 1,372,581 999,278 19,902,967 78,408 117,612 280,566 342,441 404,316 567,270 648,747 730,224 917,070 1,010,493 1,103,916 1,125,994 1,148,514 1,171,484 1,011,280 1,194,914 1,031,505 1,052,135 1,073,178 1,094,642 1,116,534 1,138,865 1,161,642 1,184,875 17,181,161 67,685 101,528 242,198 295,611 349,024 489,694 560,028 630,363 791,657 872,304 952,951 972,010 991,451 661,046 674,267 687,752 701,507 715,537 729,848 744,445 759,334 774,520 11,230,853 44,244 66,366 158,318 193,233 228,148 320,099 366,075 412,051 517,485 570,201 622,918 635,376 648,084 90,524 92,334 94,181 96,065 97,986 99,946 101,945 103,983 1,507,801 5,940 8,910 21,255 25,943 30,630 42,975 49,148 55,320 69,475 76,553 83,630 85,303 ______ 87,009 __.___• 88,749 _.._-. ..-� �n-,�n�„ conn [fin R119A'IA- 501 977 RR7 5n7 9 14A 57/1 2 4AR 'IRA I n.5l 7Q] A 2Ad Ann AOno 242 5 515 07? A 077 51n 7 9?? ?nd R ??0110] A�Sn5 270 R R75 007 R Rd0 51A 0 n79 5!17 0 7n7 n?] 0 101 17A 0 570 !1111 0 7MRAI 0 OAS 001 1/11A5 ?1? 1n ?9R 910 Amended Project and Financing Plan, TIRZ #1DAVID PETTIT i 28 E[cracrnre Devt7opt7 en( Financial Feasibility Analysis 20 YEAR - COMMERCIAL: INPUT & OUTPUT ► INPUT INFLATION RATE 2.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Year PARTICIPATION City of Grapevine 0.33243900 100% 0.3324390 Tarrant County 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Gra evine/Colle ville ISD 1.32010000 0% 0.0000000 1 2.31340600 I 1 U.33Z439U1 PERSONAL PROPERTY TAX Year PARTICIPATION City of Grapevine 0.33243900 0% 0.0000000 Tarrant County 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Gra evinelColle ville ISD 1.32010000 0% 0.0000000 1 2.313406001 1 U.000Uuuul SALES TAX RATE 1 0.02000001 0.00% 1 0.0000000 Residential Year AREA SF REAL PROPERTY $ISF TAX VALUE SALES, $/SF TATAX VALUE PERSONAL PROPW1,500,000 MultifamilyPhase One 2018 475,000 $ 140 $ 66,500,000 $ 5.00 $ $ MultifamilyPhase Two 2020 550,000 $ 140 $ 77,000,000 $ 5.00 Multifamily2020 $ 240,000 $ 120 $ 28,800,000 $ Is 5.00 $ $ Multifamily 2020 300,000 $ 120 $ 36,000,000 $ 5.00 $ TOTAL 1,565,000 $ 208,300,000 $ 7,825,000 $ OUTPUT TOTAL TAX REVENUE TOTAL TOTAL REAL PROPERTY PERSONAL PROPERTY SALES SALES City of Grapevine 14.4% $ 15,734,388 = $ 15,165,499 + $ 568,889 + $ Tarrant County 11.4% $ 12,495,160 = $ 12,043,388 + $ 451,772 + $ Tarrant County Hospital 9.9% $ 10,786,399 = $ 10,396,409 + $ 389,990 + $ TCC 6.4% $ 7,050,773 - $ 6,795,847 + $ 254,926 + $ TRWD 0.9% $ 946,603 - $ 912,378 + $ 34,225 + $ Grapevine/Colleyville ISD 57.1% $ 62,480,532 = $ 60,221,502 + $ 2,259,030 + $ 1W.0"/o �u� �H�>• l a �w,nan,v�o l l m �,�+• � 100.0% 96.4% 3.6.91 0.0% TOTAL PARTICIPATION TOTAL REAL PROPERTY PERSONAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 100.0% $ 15,165,499 = $ 15,165,499 + $ + $ Tarrant County 0.0% $ _ $ + $ + $ Tarrant County Hospital 0.0% $ - _ $ + $ + $ TCC 0.0% $ - _ $ + $ + $ TRWD 0.0% $ _ $ + $ + $ - GrapevinelColleyville ISD 0.0% $ _ $ + $ - + $ - 100.0% 100.0% 0.0% 0.0% NET BENEFIT TOTAL REAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 0.6•*1 $ 568,889 = $ + $ 568,889 + $ Tarrant County 13.2% $ 12,495,160 = $ 12,043,388 + $ 451,772 + $ Tarrant County Hospital 11.4% $ 10,786,399 = $ 10,396,409 + $ 389,990 + $ TCC 7.5% $ 7,050,773 - $ 6,795,847 + $ 254,926 + $ - TRWO 1.0% $ 946,603 - $ 912,378 + $ 34,225 + $ - Grapevine/Colleyville ISD 66.2% $ 62,480,532 = $ 60,221,502 + $ 2,259,030 + $ - 100.0% 95.8% 4.2% 0.0% M Amended Project and Financing Plan, TIRZ #1 � DAVID PETTIT 29 CC(Jn frikDt'4"f_'109iiil0i Financial Feasibility Analysis TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS Calendar Year 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 TOTAL TAX REVENUE SUMMARY PV 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 City of Grapevine 6,683,402 - - - 114,484 %OCCUPIED 0% 0% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 5,307.494 REAL PROPERTY 136,373 Taxable Value - - - 33,250,000 49,875,000 137,400,000 172,850,000 208,300,000 212,466,000 216,715,320 221,049,626 225,470,619 229,980,031 234,579,632 239,271,225 244,056,649 248,937,782 253,916,538 258,994,868 264,174,766 269,458,261 274,847,426 280,344,375 285,951,262 - - - 78,482 117,723 324,753 PV 492,542 502,393 512,441 522,690 533,144 543,807 554,683 565,776 577,092 588,634 600,406 612,415 624,663 637,156 649,899 662,897 676,155 10,786,399 TCC 2,994,914 - - - 51,302 GROSS Cityof Grapevine 267,122 6,442:005 - - - 110,536 165,804 456,771 574,621 692,470 706,320 720,446 734,855 749,552 764,543 779,834 795,431 811,339 827,566 844,118 861,000 878,220 895,784 913,700 931,974 950,614 15,165,499 Tarrant County 43,225 5.115,794 - - - 87,780 131,670 362,736 456,324 549,912 560;910 572,128 583,571 595,242 607,147 619,290 631,676 644,310 657,196 670,340 683,746 697,421 711,370 725,597 740,109 754,911 12,043,388 Tarrant County Hospital 2,910,127 4.41 111 - - - 75,776 113,664 313,130 393,920 474,709 484,204 493,888 503,765 513,841 524,118 534,600 545,292 556,198 567,322 578,668 590,242 602,046 614,087 626,369 638,896 651,674 10,396,409 TCC 5,201,843 2,886.742 - - - 49,533 74,299 204,685 257,495 310,305 316,511 322,841 329,298 335,884 342,601 349,453 356,442 363,571 370,843 378,259 385,825 393,541 401,412 409,440 417,629 425,982 6,795,847 TRWD 387,560 - - - 6,650 9,975 27,480 34,570 41,660 42,493 43,343 44,210 45,094 45,996 46,916 47,854 48,811 49,788 50,783 51,799 52,835 53,892 54,969 56,069 57,190 912,378 Grapemne/Colleyville ISD 25,580,906 - - - 438,933 658,400 1,813,817 2,281,793 2,749,768 2,804,764 2,860,859 2,918,076 2,976,438 3,035,966 3,096,686 3,158,619 3,221,792 3,286,228 3,351,952 3,418,991 3,487,371 3,557,119 3,628,261 3,700,826 3,774,843 60,221,502 Total - - - 769,207 1,153,811 3,178,620 3,998,722 4,818,825 4,915,201 5,013,505 5,113,775 5,216,051 5,320,372 5,426,779 5,535,315 5,646,021 5,758,942 5,874,120 5,991,603 6,111,435 6,233,664 6,358,337 6,485,504 6,615,214 NRgW1ZkZ#M %OCCUPIED 0% 0% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% PERSONAL PROPERTY Taxable Value - - - 1,187,500 1,781,250 5,100,000 6,462,500 7,825,000 7,981,500 8,141,130 8,303,953 8,470,032 8,639,432 8;812,221 8,988,465 9,168,235 9,351,599 9,538,631 9,729,404 9,923,992 10,122,472 10,324,921 10,531,420 10,742,048 PV GROSS City of Grapevine 241,397 - - - 3,948 5,922 16,954 21,484 26,013 26,534 27,064 27,606 28,158 28,721 29,295 29,881 30,479 31,088 31,710 32,344 32,991 33,651 34,324 35,011 35,711 568,889 Tanant County 191,700 - - - 3,135 4,703 13,464 17,061 20,658 21,071 21,493 21,922 22,361 22,808 23,264 23,730 24,204 24,688 25,182 25,686 26,199 26,723 27,258 27,803 28,359 451,772 Tanant County Hospital 165,485 - - - 2,706 4,059 11,623 14,728 17,833 18,190 18,553 18,924 19,303 19,689 20,083 20,484 20,894 21,312 21,738 22,173 22,616 23,069 23,530 24,001 24,481 389,990 TCC 108.173 - - - 1,769 2,654 7,597 9,627 11,657 11,890 12,128 12,370 12,618 12,870 13,128 13,390 13,658 13,931 14,210 14,494 14,784 15,079 15,381 15,689 16,002 254,926 TRWD 14,523 - - - 238 356 1,020 1,293 1,565 1,596 1,628 1,661 1,694 1,728 1,762 1,798 1,834 1,870 1,908 1,946 1,985 2,024 2,065 2,106 2,148 34,225 Grape,Am/Colley,Alle ISO 958,574 - - - 15,676 23,514 67,325 85,311 103,298 105,364 107,471 109,620 111,813 114,049 116,330 118,657 121,030 123,450 125,919 128,438 131,007 133,627 136,299 139,025 141,806 2,259,030 Total - - - 27,472 41,208 117,984 149,504 181,024 184,644 188,337 192,104 195,946 199,865 203,862 207,940 212,098 216,340 220,667 225,081 229,582 234,174 238,857 243,634 248,507 %OCCUPIED 0% 0% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% SALES TAX Taxable Value - - - - - - - - - - - - - - - - - _ _ _ _ _ PV GROSS Total - - _ - - - SUMMARY Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT 30 Ecowrwc Devoo,nrrtenf PV GROSS City of Grapevine 6,683,402 - - - 114,484 171,726 473,726 596,105 718,484 732,853 747,511 762,461 777,710 793,264 809,129 825,312 841,818 858,655 875,828 893,344 911,211 929,435 948,024 966,985 986,324 15,734,388 Tartan County 5,307.494 - - - 90,915 136,373 376,200 473,385 570,570 581,981 593,621 605,493 617,603 629,955 642,554 655,406 668,514 681,884 695,522 709,432 723,621 738,093 752,855 767,912 783,270 12,495,160 Tarrant County Hospital 4,581,674 - - - 78,482 117,723 324,753 408,648 492,542 502,393 512,441 522,690 533,144 543,807 554,683 565,776 577,092 588,634 600,406 612,415 624,663 637,156 649,899 662,897 676,155 10,786,399 TCC 2,994,914 - - - 51,302 76,952 212,282 267,122 321,961 328,401 334,969 341,668 348,501 355,471 362,581 369,832 377,229 384,774 392,469 400,319 408,325 416,491 424,821 433,318 441,984 7,050,773 TRWD 402,083 - - - 6,888 10,331 28,500 35,863 43,225 44,090 44,971 45,871 46,788 47,724 48,678 49,652 50,645 51,658 52,691 53,745 54,820 55,916 57,034 58,175 59,339 946,603 Grape,Am/Colleyville ISD 26,539,481 - - - 454,609 681,914 1,881,143 2,367,104 2,853,066 2,910,127 2,968,330 3,027,697 3,088,251 3,150,016 3,213,016 3,277,276 3,342,822 3,409,678 3,477,872 3,547,429 3,618,378 3,690,745 3,764,560 3,839,851 3,916,648 62,480,532 Total r• r•: - - - 796,679 1,195,019 3,296,604 4,148,226 4,999,849 5,099,846 5,201,843 5,305,879 5,411,997 5,520,237 5,630,642 5,743,255 5,858,120 5,975,282 6,094,768 6,216,683 6,341,017 6,467,837 6,597,194 6,729,138 6,863,721 Mr• -• Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT 30 Ecowrwc Devoo,nrrtenf Financial Feasibility Analysis TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS Calendar Year 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 PARTICIPATION REALPROPERTY Taxable Value - - - 33,250,000 49,875,000 137,400,000 172,850,000 208,300,000 212,466,000 216,715,320 221,049,626 225,470,619 229,980,031 234,579,632 239;271,225 244,056,649 248,937,782 253,916,538 258,994,868 264,174,766 269,458,261 274,847,426 280,344,375 285,.951,262 PV PV GROSS Cityof Grapevine GROSS Cityof Grapevine 5,922 6,442.005 - - - 110,536 165,804 456,771 574,621 692,470 706,320 720,446 734,855 749,552 764,543 779,834 795,431 811,339 827,566 844,118 861,000 878,220 895,784 913,700 931,974 950,614 15,165,499 Tarrant County - - - - - - - - - - - - - - - - - - - _ - _ - - _ - TavantCounty Hospital - - - - - - - - - - - - - - - - _ _ _ _ _ _ _ _ - - TCC - - - - - - - - - - - - - - - - - - - - - - - - TRWD _ _ _ _ _ 47,724 _ _ _ _ _ - _ _ _ _ 59,339 946,603 Gra evine/Colle lie ISD 26,539,489 - - - 454,609 681,914 1,881,143 2,367,104 2,853,066 Gra evine/Colle 'Ile ISD 2,968,330 3,027,697 3,088,251 3,150,016 3,213,016 3,277,276 3,342,822 3,409,678 3,477,872 3,547,429 3,618,378 3,690,745 3,764,560 3,839,851 3,916,648 62,480,532 Total r r• r• - - - 686,143 1,029,215 2,839,832 3,573,605 4,307,378 4,393,526 Total 4,571,024 - rr - - - 110,536 165,804 456,771 574,621 692,470 706,320 720,446 734,855 749,552 764,543 779,834 795,431 811,339 827,566 844,118 861,000 878,220 895,784 913,700 931,974 950,614 PERSONAL PROPERTY Taxable Value - - - 1,187,500 1,781,250 5,100,000 6,462,500 7,825,000 7,981,500 8,141,130 8,303,953 8,470,032 8,639,432 8,812,221 8,988,465 9,168,235 9,351,599 9,538,631 9,729,404 9,923,992 10,122,472 10,324,921 10,531,420 10,742,048 PV GROSS Cityof Grapevine - - - - - - - - - - - - - - - - _ - - - _ _ _ - - - Tarrant County- TanantCountyHospital TCC - - - - - - - - - - - - - - - - - - - - - - - TRWD - - - - - - - - - - - - - - - - - - - - - - - - - - Grapevine/Colleyville ISD Total SALES TAX Taxable Value PV GROSS Total - - - - - - - _ _ _ _ _ _ SUMMARY PV GROSS City of Grapevine 6,442,0 , - - - 110,536 165,804 456,771 574,621 692,470 706,320 720,446 734,855 749,552 764,543 779,834 795,431 811,339 827,566 844,118 861,000 878,220 895,784 913,700 931,974 950,614 15,165,499 Tarrant County - - - - - - - - - - - - - - - - - - _ _ - - - - - TarrantCounty Hospital TCC TRWD - - - - - - - - - - - - - - - - - - - - - - - - - Gra evine/Colle Ile ISD Total rr - - - 110,536 165,804 456,771 574,621 692,470 706,320 720,446 734,855 749,552 764,543 779,834 795,431 811,339 827,566 844,118 861,000 878,220 895,784 913,700 931,974 950,614 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Cityof Grapevine 241,397 - - - 3,948 5,922 16,954 21,484 26,013 26,534 27,064 27,606 28,158 28,721 29,295 29,881 30,479 31,088 31,710 32,344 32,991 33,651 34,324 35,011 35,711 568,889 Tarrant County 5,307,494 - - - 90,915 136,373 376,200 473,385 570,570 581,981 593,621 605,493 617,603 629,955 642,554 655,406 668,514 681,884 695,522 709,432 723,621 738,093 752,855 767,912 783,270 12,495,160 Tarrant County Hospital 4,589,674 - - - 78,482 117,723 324,753 408,648 492,542 502,393 512,441 522,690 533,144 543,807 554,683 565,776 577,092 588,634 600,406 612,415 624,663 637,156 649,899 662,897 676,155 10,786,399 TCC 2,994,914 - - - 51,302 76,952 212,282 267,122 321,961 328,401 334,969 341,668 348,501 355,471 362,581 369,832 377,229 384,774 392,469 400,319 408,325 416,491 424,821 433,318 441,984 7,050,773 TRWD 402.083 - - - 6,888 10,331 28,500 35,863 43,225 44,090 44,971 45,871 46,788 47,724 48,678 49,652 50,645 51,658 52,691 53,745 54,820 55,916 57,034 58,175 59,339 946,603 Gra evine/Colle lie ISD 26,539,489 - - - 454,609 681,914 1,881,143 2,367,104 2,853,066 2,910,127 2,968,330 3,027,697 3,088,251 3,150,016 3,213,016 3,277,276 3,342,822 3,409,678 3,477,872 3,547,429 3,618,378 3,690,745 3,764,560 3,839,851 3,916,648 62,480,532 Total r r• r• - - - 686,143 1,029,215 2,839,832 3,573,605 4,307,378 4,393,526 4,481,396 4,571,024 4,662,445 4,755,694 4,850,808 4,947,824 5,046,780 5,147,716 5,250,670 5,355,683 5,462,797 5,572,053 5,683,494 5,797,164 5,913,107 Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT 31 Ecunofrlr c DL'4vop1'PrE'of Financial Feasibility Analysis 20 HOTEL: INPUT & OUTPUT ► INPUT INFLATION RATE DISCOUNT RATE REAL PROPERTY TAX Year PARTICIPATION Ci of Gra 2e vin ne 0.33243900 100% 0.3324390 Tarrant Coun 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Grapevine/Colleyville ISD 1.32010000 0% 0.0000000 1 2.31340600 I 1 0.33243901 PERSONAL PROPERTY TAX Year PARTICIPATION City of Grapevine 0.33243900 0% 0.0000000 Tarrant County 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Gra evine/Colle ille ISD 1.32010000 0% 0.0000000 1 2.313406001 1 0.00000001 Sales Tax Rate 1 0.02000001 0.00% 1 0.0000000 Hotel Year AREA SF REAL PROPERTY $ / SF TAX VALUE PERSONAL PROPERTY $ 1 SF TAX VALUE SALES SALES $/ SF TAX VALUE Hotel Phase One 2018 465,000 $ 145.001$ 67,425,000 $ $ $ 25.001 $ 11,625,000 Hotel Phase Two 2021 387,500 $ 145.00 $ 56,187,500 1 $ $ 25.001 $ 9,687,500 Hotel 2022 325,000 $ 125.00 $ 40,625,000 $ $ 25.00 $ 8,125,000 Hotel 2020 325 000 $ 125.00 $ 40 625 000 $ $ 25.00 $ 8 125,000 TRWD 0.7% $ 8413198 $ $ $ $ TOTAL 1,502,500 204,862,500 37,562,500 OUTPUT ► TOTAL TAX REVENUE TOTAL TOTAL REAL PROPERTY PERSONAL PROPERTY SALES SALES City of Grapevine 26.1% $ 29,361,837 $ 13,982,345 + $ + $ 15,379,492 Tarrant County 9.9% $ 11,103,809 $ 11,103,809 + $ + $ Tarrant County Hospital 8.5% $ 9,585,321 $ 9,585,321 + $ + $ TCC 5.6% $ 6,265,661 $ 6,265,661 + $ + $ TRWD 0.7% $ 8413198 $ 841,198 + $ + $ Grapevine/Colle ille ISD 49.3% $ 55,523,251 $ 55,523,251 + $ + $ 1oo.u. iw�as�ma 1$ 9 ,301,5841 I b 1 1 b 15,3/N,492I 100.0% 86.4% 0.0% 13.6% TOTAL PARTICIPATION TOTAL REAL PROPERTY PERSONAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 100.0% $ 13,982,345 $ 13,982,345 + $ + $ Tarrant County 0.0% $ $ + $ + $ Tarrant County Hospital 0.0% $ $ + $ + $ TCC 0.0% $ - $ + $ + $ TRWD 0.0% $ $ + $ + $ Grapevine/Colle ille ISD 0.0'/ $ $ + $ + $ M.M. MMMIANN.M.10 1$ 13,9242,3451 1 8 I 1 2 I 100.0% 100.0% 0.0% 0.0% NET BENEFIT TOTAL REAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 15.6% $ 15,379,492 - $ + $ + $ 15,379,492 Tarrant County 11.3% $ 11,103,809 - $ 11,103,809 + $ + $ Tarrant County Hospital 9.711 $ 9,585,321 $ 9,585,321 + $ + $ TCC 6.3% $ 6,265,661 $ 6,265,661 + $ + $ TRWD 0.9% $ 841,198 $ 841,198 + $ + $ Grapevine/Colle ville ISD 56.3% $ 55,523,251 - $ 55,523,251 + $ + $ 700.0 2>tCY.1n:Gw� I b 733,319,2391 I b I I Y 15,.7/9,4921 100.0'/ 84.4% 0.0% 15.6% Amended Project and Financing Plan, TIRZ #1 32 i DAVID PETTIT E(of"Orrltc wevotipowow Financial Feasibility Analysis TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS Calendar Year 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 TOTAL TAX REVENUE Tota/ - - - 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 %OCCUPIED 0% 0% 100% 100% %OCCUPIED 0% 0% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Taxable Value REAL PROPERTY 8,718,750 Taxable Value - - - 33,712,500 50,568,750 87,737,500 125,987,500 170,503,125 194,706,250 204,862,500 208,959,750 213,138,945 217,401,724 221,749,758 226,184,754 230,708,449 235,322,618 240,029,070 244,829,651 249,726,244 254,720,769 259,815,185 265,011,488 270,311,718 PV GROSS Total ' • r - - - 116,250 GROSS Cityof Grapevine 451,250 5.855,542 710,625 - - - 112,073 168,110 291,674 418,832 566,819 647,280 681,043 694,664 708,557 722,728 737,183 751,926 766,965 782,304 797,950 813,909 830,187 846,791 863,727 881,002 898,622 13,982,345 Tarrant County 4.650.065 - - - 89,001 133,502 231,627 332,607 450,128 514,025 540,837 551,654 562,687 573,941 585,419 597,128 609,070 621,252 633,677 646,350 659,277 672,463 685,912 699,630 713,623 11,103,809 Tarrant County Hospital 4,014,151 - - - 76,830 115,245 199,951 287,122 388,572 443,730 466,875 476,213 485,737 495,452 505,361 515,468 525,778 536,293 547,019 557,959 569,119 580,501 592,111 603,953 616,032 9,585,321 TCC 1,550,360 2.623,940 1,612,994 - - - 50,222 75,332 130,703 187,684 253,999 290,054 305,184 311,287 317,513 323,863 330,341 336,947 343,686 350,560 357,571 364,723 372,017 379,458 387,047 394,788 402,683 6,265,661 TRWD 609,070 352,278 633,677 - - - 6,743 10.,114 17,548 25,198 34,101 38,941 40,973 41,792 42,628 43,480 44,350 45,237 46,142 47,065 48,006 48,966 49,945 50,944 51,963 53,002 54,062 841,198 Grapevine/Colleyville ISD 547,019 �- - 569,119 - - - 445,039 667,558 1,158,223 1,663,161 2,250,812 2,570,317 2,704,390 2,758,478 2,813,647 2,869,920 2,927,319 2,985,865 3,045,582 3,106,494 3,166,624 3,231,996 3,296,636 3,362,569 3,429,820 3,498,417 3,568,385 55,523,251 Total 372,017 • r • l r • - - - 779,907 1,169,860 2,029,725 2,914,602 3,944,430 4;504,346 4,739,301 4,834,087 4,930,769 5,029,385 5,129,972 5,232,572 5,337,223 5,443,968 5,552,847 5,663,904 5,777,182 5,892,726 6,010,580 6,130,792 6,253,408 r 49,945 50,944 %OCCUPIED 0% 0% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 3,296,636 PERSONAL PROPERTY 3,429,820 Taxable Value - - - - - - - - - - - - - - - 5,712,370 5,826,617 5,943,149 6,062,012 6,183,253 6,306,918 6,433,056 - - 6,826,811 6,963,347 7,102,614 PV r GROSS Cityof Grapevine - - - - - - - - - - - - - - - - ' Tarrant County Tarrant County Hospital TCC TRWD Grapevine/Colleyville ISD - - - -_ - - - - - - Tota/ - - - - - - - - - - - - - - - - - - - %OCCUPIED 0% 0% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% SALESTAX Taxable Value - - 5,812,500 8,718,750 15,687,500 22,562,500 31,078,125 35,531,250 37,562,500 38,313,750 39,080,025 39,861,626 40,658,858 41,472,035 42,301,476 43,147,505 44,010,455 44,890,665 45,788,478 46,704,247 47,638,332 48,591,099 49,562,921 PV GROSS Total ' • r - - - 116,250 174,375 313,750 451,250 621,563 710,625 751,250 766,275 781,601 797,233 813,177 829,441 846,030 862,950 880,209 897,813 915,770 934,085 952,767 971,822 991,258 SUMMARY PV GROSS Cityof Grapevine 12,281502 - - - 228,323 342,485 605,424 870,082 1,188,381 1,357,905 1,432,293 1,460,939 1,490,157 1,519,961 1,550,360 1,581,367 1,612,994 1,645,254 1,678,159 1,711,723 1,745,957 1,780,876 1,816,494 1,852,824 1,889,880 29,361,837 Tarrant County 4,650,065 - - - 89,001 133,502 231,627 332,607 450,128 514,025 540,837 551,654 562,687 573,941 585,419 597,128 609,070 621,252 633,677 646,350 659,277 672,463 685,912 699,630 713,623 11,103,809 Tarrant County Hospital 4,014.151 - - - 76,830 115,245 199,951 287,122 388,572 443,730 466,875 476,213 485,737 495,452 505,361 515,468 525,778 536,293 547,019 557,959 569,119 580,501 592,111 603,953 616,032 9,585,321 TCC 2,623,940 - - - 50,222 75,332 130,703 187,684 253,999 290,054 305,184 311,287 317,513 323,863 330,341 336,947 343,686 350,560 357,571 364,723 372,017 379,458 387,047 394,788 402,683 6,265,661 TRWD 352.278 - - - 6,743 10,114 17,548 25,198 34,101 38,941 40,973 41,792 42,628 43,480 44,350 45,237 46,142 47,065 48,006 48,966 49,945 50,944 51,963 53,002 54,062 841,198 Gra evine/Colle 'Ile ISD 23,252,087 445,039 667,558 1,158,223 1,663,161 2,250,812 2,570,317 2,704,390 2,758,478 2,813,647 2,869,920 2,927,319 2,985,865 3,045,582 3,106,494 3,168,624 3,231,996 3,296,636 3,362,569 3,429,820 3,498,417 3,568,385 55,523,251 Total r - - - 896,157 1,344,235 2,343,475 3,365,852 4,565,992 5,214,971 5,490,551 5,600,362 5,712,370 5,826,617 5,943,149 6,062,012 6,183,253 6,306,918 6,433,056 6,561,717 6,692,951 6,826,811 6,963,347 7,102,614 7,244,666 r Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT 33 fc000rrrt DL'w}foprocof Financial Feasibility Analysis TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS Calendar Year 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 PARTICIPATION REAL PROPERTY Taxable Value - - - 33,712,500 50,568,750 87,737,500 125,987,500 170,503,125 194,706,250 204,862,500 208,959,750 213,138,945 217,401,724 221,749,758 226,184,754 230,708,449 235,322,618 240,029,070 244,829,651 249,726,244 254,720,769 259,815,185 265,011,488 270,311,718 PVGROSS City of Grapevine - - - 112,073 168,110 291,674 418,832 566,819 647,280 681,043 694,664 708,557 722,728 737,183 751,926 766,965 782,304 797,950 813,909 830,187 846,791 863,727 881,002 898,622 13,982,345 Tarrant County - - - - - - - - - - - - - - - - - - - - - - - - Tanant County Hospital TCC TRWD Gra evine/Colle ille ISD Total - - - 112,073 168,110 291,674 418,832 566,819 647,280 681,043 694,664 708,557 722,728 737,183 751,926 766,965 782,304 797,950 813,909 830,187 846,791 863,727 881,002 898,622 PERSONAL PROPERTY Taxable Value - - - - - - - - - - - - - - - - - - - - - PV GROSS - City of Grapevine - - - - - - - - - - - - - - - - - - - - - - - TarrantCounty Tarrant County Hospital - - - - - - - - - - - - - - - - - - - - - - - - - - TCC TRWD Gra evine/Colle ille ISD Total _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ SALES TAX Taxable Value - - - 5,812,500 8,718,750 15,687,500 22,562,500 31,078,125 35,531,250 37,562,500 38,313,750 39,080,025 39,861,626 40,658,858 41,472,035 42,301,476 43,147,505 44,010,455 44,890,665 45,788,478 46,704,247 47,638,332 48,591,099 49,562,921 PV GROSS Total _ _ _ _ _ _ _ _ _ _ _ _ _ SUMMARY PV GROSS Cityof Grapevine 5,855,542 - - - 112,073 168,110 291,674 418,832 566,819 647,280 681,043 694,664 708,557 722,728 737,183 751,926 766,965 782,304 797,950 813,909 830,187 846,791 863,727 881,002 898,622 13,982,345 Tanant County - - - - - - - - - - - - - - - - - - - - - - - - TarrantCounty Hospital - - - - - - - - - - - - - - - - - - - - - - - - TCC TRWD Gra evine/Colle ille ISD Total - - - 112,073 168,110 291,674 418,832 566,819 647,280 681,043 694,664 708,557 722,728 737,183 751,926 766,965 782,304 797,950 813,909 830,187 846,791 863,727 881,002 898,622 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV ROSS City of Grapevine 6,427.960 - - - 116,250 174,375 313,750 451,250 621,563 710,625 751,250 766,275 781,601 797,233 813,177 829,441 846,030 862,950 880,209 897,813 915,770 934,085 952,767 971,822 991,258 15,379,492 Tarrant County 4,650,065 - - - 89,001 133,502 231,627 332,607 450,128 514,025 540,837 551,654 562,687 573,941 585,419 597,128 609,070 621,252 633,677 646,350 659,277 672,463 685,912 699,630 713,623 11,103,809 Tartans County Hospital 4,014,151 - - - 76,830 115,245 199,951 287,122 388,572 443,730 466,875 476,213 485,737 495,452 505,361 515,468 525,778 536,293 547,019 557,959 569,119 580,501 592,111 603,953 616,032 9,585,321 TCC 2,623,940 - - - 50,222 75,332 130,703 187,684 253,999 290,054 305,184 311,287 317,513 323,863 330,341 336,947 343,686 350,560 357,571 364,723 372,017 379,458 387,047 394,788 402,683 6,265,661 TRWD 352,278 - - - 6,743 10,114 17,548 25,198 34,101 38,941 40,973 41,792 42,628 43,480 44,350 45,237 46,142 47,065 48,006 48,966 49,945 50,944 51,963 53,002 54,062 841,198 Grapevine/Colleyville ISD 23,252,087 445,039 667,558 1,158,223 1,663,161 2,250,812 2,570,317 2,704,390 2,758,478 2,813,647 2,869,920 2,927,319 2,985,865 3,045,582 3,106,494 3,168,624 3,231,996 3,296,636 3,362,569 3,429,820 3,498,417 3,568,385 55,523,251 Total t -: _ _ - 784,083 1,176,125 2,051,801 2,947,021 3,999,173 4,567,692 4,809,509 4,905,699 5,003,813 5,103,889 5,205,967 5,310,086 5,416,288 5,524,614 5,635,106 5,747,808 5,862,764 5,980,019 6,099,620 6,221,612 6,346,044 111111113.3.0-111111 Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT 34 Ecowrrlttt-wttoprttew Financial Feasibility Analysis 20 YEAR - INDUSTRIAL: INPUT & OUTPUT ► INPUT INFLATION RATE 2.001/ DISCOUNT RATE 6.00 REAL PROPERTY TAX 2.313406001 PARTICIPATION of Grapevine 0.33243900 100% 0.3324390 -City Tarrant County 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Grapevine/Colleyville ISD 1.32010000 0% 0.0000000 1 2.31340600 1 1 U.33Z439UI PERSONAL PROPERTY TAX 2.313406001 PARTICIPATION of Grapevine 0.33243900 0% 0.0000000 -City Tarrant County 0.26400000 0% 0.0000000 Tarrant County Hospital 0.22789700 0% 0.0000000 TCC 0.14897000 0% 0.0000000 TRWD 0.02000000 0% 0.0000000 Grapevine/Colleyville ISD 1.32010000 0% 0.0000000 I 2.313406001 I U.uuuuuuui REAL PROPERTY PERSONAL PROPERTY PERSONAL PROPERTY 0.0000000 Sales Tax Rate 1 0.02000001 0.00% 1 $ 25,062,586 = $ 24,063,307 OfCe $ 999,278 + $ AREA REAL PROPERTY $ Year I SF $ / SF TAX VALUE $ Industrial 20191 250,0001 $ 50.001 $ 12,500,000 9.9% Industrial 20211 250,0001 $ 50.001 $ 12,500,000 $ 685,036 + $ - TCC 6.4% TOTAL 500,000 25,000,000 OUTPUT $ 447,789 + $ TOTAL TAX REVENUE 0.9% TOTAL REAL PROPERTY = $ 1,447,683 + $ 60,118 + PERSONALPROPERTY 6 / SF TAX VALUE 25.00 $ 6,250,000 25.00 $ 6,250,000 12,500,000 SALES TAX VALUE 7 UU. U7. I a ao,o,o 1 1 v -,,..... 100.0% 96.0% 4.0% 0.0% TOTAL PARTICIPATION TOTAL REAL PROPERTY PERSONAL PROPERTY PERSONAL PROPERTY SALES SALES City of Grapevine 14.4% $ 25,062,586 = $ 24,063,307 + $ 999,278 + $ Tarrant County 11.4% $ 19,902,967 = $ 19,109,410 + $ 793,558 + $ - Tarrant County Hospital 9.9% $ 17,181,161 = $ 16,496,126 + $ 685,036 + $ - TCC 6.4% $ 11,230,853 = $ 10,783,064 + $ 447,789 + $ TRWD 0.9% $ 1,507,801 = $ 1,447,683 + $ 60,118 + $ Grapevine/Colleyville ISD 57.1% 1 $ 99,522,376 = $ 95,554,288 + $ 3,968,089 + $ - 7 UU. U7. I a ao,o,o 1 1 v -,,..... 100.0% 96.0% 4.0% 0.0% TOTAL PARTICIPATION TOTAL REAL PROPERTY PERSONAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 100.0% $ 24,063,307 = $ 24,063,307 + $ + $ Tarrant County 0.0% $ _ $ + $ + $ Tarrant County Hospital 0.0% $ _ $ + $ + $ - TCC 0.0% $ - _ $ + $ + $ TRWD 0.0% $ _ $ + $ + $ Grapevine/Colleyvi Ile ISD 0.0% $ _ $ - + $ + $ - 7UU. U"/oE>' n�� 1 Y cv,voo,.>.+i 1 L.!.-- - 1 100.0% 100.0% 0.0% 0.0% NET BENEFIT TOTAL REAL PROPERTY PERSONAL PROPERTY SALES City of Grapevine 0.7% $ 999,278 = $ + $ 999,278 + $ Tarrant County 13.2% $ 19,902,967 = $ 19,109,410 + $ 793,558 + $ Tarrant County Hospital 11.4% $ 17,181,161 = $ 16,496,126 + $ 685,036 + $ TCC 7.5% $ 11,230,853 = $ 10,783,064 + $ 447,789 + $ TRWD 1.0% $ 1,507,801 = $ 1,447,683 + $ 60,118 + $ Grapevine/Colleyville ISD 66.2% $ 99,522,376 = $ 95,554,288 + $ 3,968,089 + $ 100.0•o 95.4% 4.6% 0.0% Amended Project and Financing Plan, TIRZ #1 35 DAVID PETTIT Financial Feasibility Analysis TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS Calendar Year 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 TnTA1 TAY RFVFNIIG Amended Project and Financing Plan, TIRZ #1 36 i i DAVID PETTIT Econornrc Deve,optriew 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 % OCCUPIED 100! 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% REAL PROPERTY Taxable Value - - - - 6,250,000 9,375,000 18,750,000 21,875,000 25,000,000 25,500,000 26,010,000 26,530,200 27,060,804 27,602,020 28,154,060 28,717,142 29,291,485 29,877,314 30,474,860 31,084,358 31,706,045 32,340,166 32,986,969 33,646,708 GROSS of Grapevine City of 723.724 - - - - 20,777 31,166 62,332 72,721 83,110 84,772 86,467 88,197 89,961 91,760 93,595 95,467 97,376 99,324 101,310 103,337 105,403 107,511 109,662 111,855 1,736,103 Tarrant County 16,500 24,750 49,500 57,750 66,000 67,320 68,666 70,040 71,441 72,869 74,327 75,813 77,330 78,876 80,454 82,063 83,704 85,378 87,086 88,827 1,378,693 Tarrant County Hospital 496,134 - - - - 14,244 21,365 42,731 49,852 56,974 58,114 59,276 60,462 61,671 62,904 64,162 65,446 66,754 68,090 69,451 70,840 72,257 73,702 75,176 76,680 1,190,151 777,969 TCC 324,309 9,311 13,966 27,932 32,587 37,243 37,987 38,747 39,522 40,312 41,119 41,941 42,780 43,636 44,508 45,398 46,306 47,232 48,177 49,141 50,124 TRWD 43.540 1,250 1,875 3,750 4,375 5,000 5,100 5,202 5,306 5,412 5,520 5,631 5,743 5,858 5,975 6,095 6,217 6,341 6,468 6,597 6,729 104,446 Grapevim/Colleyville ISD 2,873,873 82,506 123,759 247,519 288,772 330,025 336,626 343,358 350,225 357,230 364,374 371,662 379,095 386,677 394,410 402,299 410,345 418,551 426,923 435,461 444,170 6,893,986 Total r - - - - 144,588 216,882 433,764 506,058 578,352 589,919 601,717 613,751 626,026 638,547 651,318 664,344 677,631 691,184 705,007 719,107 733,490 748,159 763,123 778,385 r %OCCUPIED 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% PERSONAL PROPERTY Taxable Value - - - - 3,125,000 4,687,500 9,375,000 10,937,500 12,500,000 12,750,000 13,005,000 13,265,100 13,530,402 13,801,010 14,077,030 14,358,571 14,645,742 14,938,657 15,237,430 15,542,179 15,853,022 16,170,083 16,493,485 16,823,354 GROSS City of Grapevine PV 361,862 - - - - 10,389 15,583 31,166 36,361 41,555 42,386 43,234 44,098 44,980 45,880 46,798 47,733 48,688 49,662 50,655 51,668 52,702 53,756 54,831 55,927 868,052 689,346 Tarrant County 287,366 - - - - 8,250 12,375 24,750 28,875 33,000 33,660 34,333 35,020 35,720 36,435 37,163 37,907 38,665 39,438 40,227 41,031 41,852 42,689 43,543 44,414 Tarrant County Hospital 248,067 - - - - 7,122 10,683 21,365 24,926 28,487 29,057 29,638 30,231 30,835 31,452 32,081 32,723 33,377 34,045 34,726 35,420 36,129 36,851 37,588 38,340 595,076 TCC 162,155 4,655 6,983 13,966 16,294 18,621 18,994 19,374 19,761 20,156 20,559 20,971 21,390 21,818 22,254 22,699 23,153 23,616 24,089 24,570 25,062 388,985 TRWD 21,770 625 938 1,875 2,188 2,500 2,550 2,601 2,653 2,706 2,760 2,815 2,872 2,929 2,988 3,047 3,108 3,171 3,234 3,299 3,365 52,223 Grape ne/Colleille ISD 1,436,937 41,253 61,880 123,759 144,386 165,013 168,313 171,679 175,113 178,615 182,187 185,831 189,547 193,338 197,205 201,149 205,172 209,276 213,461 217,730 222,085 3,446,993 - - - 72,294 108,441 216,882 253,029 289,176 294,959 300,858 306,876 313,013 319,273 325,659 332,172 338,815 345,592 352,504 359,554 366,745 374,080 381,561 389,192 r•r Total - % OCCUPIED 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 1001/. 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% SALES TAX Taxable Value - - - - - - - - - - - GROSS PV - - - - - - Total - - - - - - - - SUMMARY GROSS PV 1,085,585 - - - 31,166 46,749 93,498 109,082 124,665 127,158 129,701 132,295 134,941 137,640 140,393 143,200 146,064 148,986 151,965 155,005 158,105 161,267 164,492 167,782 2,604,155 City o(Grapevine - 24,750 37,125 74,250 86,625 99,000 100,980 103,000 105,060 107,161 109,304 111,490 113,720 115,994 118,314 120,680 123,094 125,556 128,067 130,628 133,241 2,068,039 Tarrant County 862.097 - - - - 21,365 32,048 64,096 74,779 85,461 87,171 88,914 90,692 92,506 94,356 96,243 98,168 100,132 102,134 104,177 106,260 108,386 110,553 112,764 115,020 1,785,227 Tarrant County Hospital744,202 - - - - 13,966 20,949 41,898 48,881 55,864 56,981 58,121 59,283 60,469 61,678 62,912 64,170 65,453 66,762 68,098 69,460 70,849 72,266 73,711 75,185 1,166,954 TCC 486,464 65,310 1,875 2,813 5,625 6,563 7,500 7,650 7,803 7,959 8,118 8,281 8,446 8,615 8,787 8,963 9,142 9,325 9,512 9,702 9,896 10,094 156,670 TRWD Grape inelColleille ISD 4,310.810 123,759 185,639 371,278 433,158 495,038 504,938 515,037 525,338 535,845 546,561 557,493 568,642 580,015 591,616 603,448 615,517 627,827 640,384 653,191 666,255 10,340,980 902,575 920,627 939,039 957,820 976,977 996,516 1,016,446 1,036,775 1,057,511 1,078,661 1,100,234 1,122,239 1,144,684 1,167,577 r Total - - - 216,882 325,323 650,645 759,086 867,527 884,878 Amended Project and Financing Plan, TIRZ #1 36 i i DAVID PETTIT Econornrc Deve,optriew Financial Feasibility Analysis TAX REVENUE PROJECTIONS & COST -BENEFIT ANALYSIS Calendar Year 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 PARTICIPATION REAL PROPERTY Taxable Value - - - - 6,250,000 9,375,000 18,750,000 21,875,000 25,000,000 25,500,000 26,010,000 26,530,200 27,060,804 27,602,020 28,154,060 28,717,142 29,291,485 29,877,314 30,474,860 31,084,358 31,706,045 32,340,166 32;986,969 33,646,708 PV GROSS City of Grapevine723,724 361.862 - - - - 20,777 31,166 62,332 72,721 83,110 84,772 86,467 88,197 89,961 91,760 93,595 95,467 97,376 99,324 101,310 103,337 105,403 107,511 109,662 111,855 1,736,103 Tamara County Tartan[County 862,097 - - - - 24,750 37,125 74,250 86,625 99,000 100,980 103,000 105,060 107,161 109,304 111,490 113,720 115,994 118,314 120,680 123,094 125,556 128,067 130,628 133,241 Tarrant County Hospital Tanana County Hospital 144,202 - - - - 21,365 32,048 64,096 74,779 85,461 87,171 88,914 90,692 92,506 94,356 96,243 98,168 100,132 102,134 104,177 106,260 108,386 110,553 112,764 TCC 1,785,227 TCC 486,464 - - - - 13,966 20,949 41,898 48,881 55,864 56,981 58,121 59,283 60,469 61,678 62,912 64,170 65,453 66,762 68,098 69,460 70,849 72,266 TRWD 75,185 1,166,954 TRWD 65,310 - - - - 1,875 2,813 5,625 6,563 7,500 7,650 7,803 7,959 8,118 8,281 8,446 8,615 8,787 8,963 9,142 9,325 9,512 Grapevme/Colleyville ISD 9,896 10,094 156,670 Grapevine/Colleyville ISD 4,310,810 - - 123,759 185,639 371,278 433,158 495,038 504,938 515,037 525,338 535,845 546,561 557,493 568,642 580,015 591,616 603,448 615,517 Total - - - - 20,777 31,166 62,332 72,721 83,110 84,772 86,467 88,197 89,961 91,760 93,595 95,467 97,376 99,324 101,310 103,337 105,403 107,511 109,662 111,855 r PERSONAL PROPERTY Taxable Value - - - - 3,125,000 4,687,500 9,375,000 10,937,500 12,500,000 12,750,000 13,005;000 13,265,100 13,530,402 13,801,010 14,077,030 14,358,571 14,645,742 14,938,657 15,237,430 15,542,179 15,853,022 16,170,083 16,493,485 16,823,354 PV GROSS City of Grapevine - - - - - - - - - - - _ _ _ - - - Tanana County Tarrant County Hospital TCC- TRWD Grapevim/Colleyville ISD Total SALES TAX Taxable Value PV GROSS Total SUMMARY PV GROSS City of Grapevine 723.724 - - - 20,777 31,166 62,332 72,721 83,110 84,772 86,467 88,197 89,961 91,760 93,595 95,467 97,376 99,324 101,310 103,337 105,403 107,511 109,662 111,855 1,736,103 Tarrant County - - - _ _ - _ - _ _ _ _ _ _ _ _ _ _ Tarrant County Hospital TCC TRWD Gra evine/Colle ille ISD Total - - - - 20,777 31,166 62,332 72,721 83,110 84,772 86,467 88,197 89,961 91,760 93,595 95,467 97,376 99,324 101,310 103,337 105,403 107,511 109,662 111,855 r TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS City of Grapevine 361.862 - - - - 10,389 15,583 31,166 36,361 41,555 42,386 43,234 44,098 44,980 45,880 46,798 47,733 48,688 49,662 50,655 51,668 52,702 53,756 54,831 55,927 868,052 Tartan[County 862,097 - - - - 24,750 37,125 74,250 86,625 99,000 100,980 103,000 105,060 107,161 109,304 111,490 113,720 115,994 118,314 120,680 123,094 125,556 128,067 130,628 133,241 2,068,039 Tanana County Hospital 144,202 - - - - 21,365 32,048 64,096 74,779 85,461 87,171 88,914 90,692 92,506 94,356 96,243 98,168 100,132 102,134 104,177 106,260 108,386 110,553 112,764 115,020 1,785,227 TCC 486,464 - - - - 13,966 20,949 41,898 48,881 55,864 56,981 58,121 59,283 60,469 61,678 62,912 64,170 65,453 66,762 68,098 69,460 70,849 72,266 73,711 75,185 1,166,954 TRWD 65,310 - - - - 1,875 2,813 5,625 6,563 7,500 7,650 7,803 7,959 8,118 8,281 8,446 8,615 8,787 8,963 9,142 9,325 9,512 9,702 9,896 10,094 156,670 Grapevine/Colleyville ISD 4,310,810 - - 123,759 185,639 371,278 433,158 495,038 504,938 515,037 525,338 535,845 546,561 557,493 568,642 580,015 591,616 603,448 615,517 627,827 640,384 653,191 666,255 10,340,980 Total r - - - - - 196,104 294,157 588,313 686,365 784,418 800,106 816,108 832,430 849,079 866,060 883,382 901,049 919,070 937,452 956,201 975,325 994,831 1,014,728 11035,022 1,055,723 Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT 37 EConorrlr[ Developraeof Terms and Conditions Amended Project and Financing Plan, TIRZ #1 38 Projects Cost Estimates: All project costs listed in the project plan shall be considered estimates and shall not be considered a cap on expenditures. Length of TIRZ #1 in Years: The TIRZ was originally created with a 30 -year term and was scheduled to terminate on December 31, 2016. Upon amendment, the TIRZ term was extended for an additional 21 years and is now scheduled to terminate on December 31, 2038. Powers and Duties of Board of Directors: The Board shall have all powers granted to it by Chapter 311 of the Texas Tax Code, including powers of a municipality under Chapter 380, Local Government Code. The Board shall not be authorized to: issue bonds; impose taxes or fees; exercise the power of eminent domain; or give final approval to the Zone's project and financing plan. i DAVID PETTIT Ec ono rri (L DC 4'E','d pC ,len f ■ APPENDIX A - CURRENT PROPERTY OWNERSHIP Account Owner County Exemption SQFT Improvement Value Land Value Ag exemption Total Value 7681798 HUNT BUILDING CORP Tarrant 100,624 $ - $ 60,374 $ $ 60,374 41484460 BREI HAN FAMILYTRUST A & B Tarrant 14,580 $ - $ 174,960 $ $ 174,960 41657292 GRAPEVINE CROSSING HOLDINGS LL Tarrant 20,473 $ - $ 140,445 $ $ 140,445 41484487 GRAPEVINE CROSSING HOLDINGS LL Tarrant 33,187 $ - $ 227,663 $ 227,580 $ 83 41707656 GRAPEVINE CROSSING HOLDINGS LL Tarrant 147,649 $ - $ 822,953 $ - $ 822,953 41707664 GRAPEVINE CROSSING HOLDINGS LL Tarrant 224,803 $ 1,578,356 $ 43,882 $ $ 1,622,238 41484509 ENCORE RETAIL DEVELOPMENT CO Tarrant 76,808 $ - $ 1,497,756 $ $ 1,497,756 41525973 CHESAPEAKE LAND DEV CO LLC Tarrant 20,000 $ $ 1,400 $ $ 1,400 41589696 CHESAPEAKE LAND DEV CO LLC Tarrant 112,000 $ $ 7,840 $ $ 7,840 41480627 LAKE FAMILYTRUST Tarrant 88,202 $ 890,370 $ 1,759,630 $ $ 2,650,000 41480635 LCGGRAPEVINE IILP Tarrant 191,129 $ 3,849,799 $ 2,150,201 $ $ 6,000,000 41480643 GRAPEVINE PAVILION INVESTMENT Tarrant 52,514 $ 1,095,368 $ 787,710 $ $ 1,883,078 41480651 GRAPEVINE PAVILION INVESTMENT Tarrant 59,644 $ 1,275,124 $ 894,660 $ - $ 2,169,784 41480678 LCG GRAPEVINE II LP Tarrant 231,039 $ 81,923 $ 2,425,910 $ $ 2,507,833 41480686 LCGGRAPEVINE IILP Tarrant 55,919 $ - $ 615,109 $ $ 615,109 40361691 GRAPEVINE DEVELOPMENT III LP Tarrant 185,869 $ 2,220,974 $ 2,091,026 $ - $ 4,312,000 41186532 Tarrant $ $ - 1603795 GRAPEVINE CITY OF Tarrant Ex. 185,729 $ 2,872,141 $ 650,052 $ $ - 41709209 RDSL PROPERTIES MANAGEMENT LLC Tarrant 31,872 $ 176,920 $ 478,080 $ - $ 655,000 41653009 GRAPEVINE EQUITY PARTNERS LLC Tarrant 780,151 $ - $ 4,613,340 $ $ 4,613,340 40647749 SPEEDWAY GRAPEVINE I LLC Tarrant 48,916 $ 630,192 $ 684,824 $ $ 1,315,016 07390319 SPEEDWAY GRAPEVINE I LLC Tarrant 25,116 $ 34,069 $ 351,624 $ $ 385,693 4463455 GRAPEVINE EQUITY PARTNERS LLC Tarrant 627,970 $ - $ 627,970 $ $ 627,970 04463498 CARTER GRAPEVINE PARTNERS ETAL Tarrant 736,600 $ - $ 368,300 $ $ 368,300 4463501 GRAPEVINE EQUITY PARTNERS LLC Tarrant 516,360 $ - $ 1,015,822 $ $ 1,015,822 4471652 GRAPEVINE CITY OF Tarrant Ex. 442,631 $ - $ 818,867 $ $ - 4471687 NG20 LP Tarrant 54,102 $ 42,298 $ 54,102 $ - $ 96,400 4471709 GRAPEVINE CITY OF Tarrant Ex. 12,763 $ - $ 124,439 $ $ - 6015530 GRAPEVINE CITY OF Tarrant Ex. 22,651 $ - $ 22,651 $ $ - 41480988 NG 20 LP Tarrant 871,200 $ 871,200 $ - $ $ 871,200 41558413 GRAPEVINE CITY OF Tarrant Ex. 19,863 $ - $ 193,664 $ - $ - 4488741 GRAPEVINE CITY OF Tarrant Ex. 37,301 $ - $ 363,685 $ $ - 4488768 GRAPEVINE CITY OF Tarrant Ex. 854,345 $ - $ 8,329,864 $ $ - 7074581 GRAPEVINE CITY OF Tarrant Ex. 421,269 $ - $ 4,107,373 $ $ - 07126441 GRAPEVINE CITY OF Tarrant Ex. 362,950 $ - $ 3,538,763 $ $ - 41287460 COUCH GEORGE W III Tarrant 10,541 $ - $ 25,001 $ 24,975 $ 26 41679210 BILLINGSLEY PIN OAK PRTNS LTD Tarrant 37,009 $ - $ 288,667 $ 288,596 $ 71 41527275 CHESAPEAKE LAND DEV CO LLC Tarrant 30,536 $ - $ 2,138 $ - $ 2,138 41691040 CHESAPEAKE LAND DEV CO LLC Tarrant 120,661 $ - $ 1,085,949 $ - $ 1,085,949 6144403 GRAPEVINE CITY OF Tarrant Ex. 307,050 $ - $ 2,993,738 $ - $ - 41712013 BCO TURNPIKE DIST CTR M LLC Tarrant 16,117 $ - $ 125,714 $ 125,674 $ 40 03999963 GRAPEVINE CITY OF Tarrant Ex. 12,197 $ 9,038 $ 85,379 $ - $ - 3999971 GRAPEVINE CITY OF Tarrant Ex. 5,227 $ 3,873 $ 36,589 $ $ - 4502450 GRAPEVINE CITY OF Tarrant Ex. 24,176 $ 36,000 $ 120,880 $ $ - 4000013 GRAPEVINE CITY OF Tarrant Ex. 7,841 $ 5,810 $ 54,887 $ - $ - 4515528 CARTER GRAPEVINE PARTNERS ETAL Tarrant 126,324 $ - $ 63,162 $ $ 63,162 65169141010010000 City of Grapevine Dallas Ex. 1,144,234 $ - $ 2,574,530 $ - $ - 65177243010140100 City of Grapevine Dallas Ex. 30,884 $ - $ 7,090 $ $ - 65177243010130100 MORSE MARY KATHLEEN D TR Dallas 71,395 $ - $ 14,280 $ 14,149 $ 131 65165528010050000 MORSE MARY KATHLEEN D TR Dallas 117,612 $ - $ 5,400 $ 5,184 $ 216 ■ Amended Project and Financing Plan, TIRZ #1 i DAVID PETTIT 39 ftonorri(L oe'wfo raenf APPENDIX A - CURRENT PROPERTY OWNERSHIP IAccount Owner County Exemption SQFT Value Improvement Land Value Ag exemption Total Value 65171553010030000 CROW BILLINGSLEY AIRPORT 90043000OA01A0000 GRAPEVINE CROSSING HOLDINGS LLC 90043000OA02A0000 BREIHAN FAMILYTRUST 90043000OA03A0000 GRAPEVINE CROSSING HOLDINGS LLC 65031743010020000 City of Grapevine 65061421010010000 City of Grapevine 7708823 GRAPEVINE MILLS LTD PRTNSHP 7708831 GRAPEVINE MILLS LTD PRTNSHP 7708866 GRAPEVINE MILLS LTD PRTNSHP 41307097 GRAPEVINE MILLS LTD PRTNSHP 7066945 NATIONAL RETAIL PROPERTIES INC 7066953 LOGAN GRAPEVINE ASSOCIATES LP 7161662 GRAPEVINE-LIANG 2655 LLC 7224958 VISION F LLC 7902875 NATIONAL RETAIL PROPERTIES INC 7902867 PTT EMPIRE INVESTMENTS CORP 7384920 CJK GRAPEVINE PROPERTIES LLC 7067003 HA LLE PROPERTIES LLC 7067011 TIOS LLC 7224974 ARC CAFEUSA001 LLC 40012174 ESTRELLA ENTERPRISES 7067046 CHICK-FIL-A INC 7384831 BUERGE, JOHN R 7384904 CNLAPF PARTNERS LP 7384912 STEAK N SHAKE INC 7227132 MOODY NATIONAL HP GRAPEVINE TR 40459691 W2005/FARGO HOTELS REALTY LP 40459705 GRAPEVINE MILLS RESIDUAL LP 7384637 GRAPEVINE LODGING PARTNERS LP 40982319 SHAFIPOUR, NASSER ETUX ETAL Dallas Dallas Dallas Dallas Dallas Dallas Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Tarrant Ex. Ex. 94,983 $ 95,135 $ 22,913 $ 1,655 $ 1,118,577 $ 3,799,085 $ 144,794 $ 149,063 $ 28,794 $ 5,423,176 $ 110,599 $ 184,172 $ 77,872 $ 85,135 $ 88,601 $ 125,191 $ 104,239 $ 37,331 $ 23,610 $ 53,676 $ 47,984 $ 53,753 $ 38,898 $ 62,467 $ 54,791 $ 108,488 $ 117,495 $ 101,364 $ 101,243 $ 64,774 $ 20,633,452 - $ 569,900 $ - $ 570,810 $ 774,960 $ 137,480 $ $ 9,930 $ $ $ 256,790 $ 7,520,000.00 $ 13, 310, 580 $ 3,641,421.00 $ 868,764.00 $ 6,625,622.00 $ 894,378.00 $ - $ 172, 764.00 $ 170,257,995.00 $ 32,539,056.00 $ 1,346,511.00 $ 1,658,985.00 $ 567,420.00 $ 2,762,580.00 $ 816, 920.00 $ 1,168, 080.00 $ 822,975.00 $ 1,277,025.00 $ 770,985.00 $ 1,329,015.00 $ 3,223,870.00 $ 1,877,865.00 $ 886,415.00 $ 1,563,585.00 $ 254,082.00 $ 559,965.00 $ 595,850.00 $ 354,150.00 $ 781,906.00 $ 805,140.00 $ 447, 932.00 $ 899, 700.00 $ 267,131.00 $ 1, 007, 869.00 $ 766,530.00 $ 583,470.00 $ 1,000.00 $ 937, 005.00 $ 68,081.00 $ 1,027,331.00 $ 6,998,144.00 $ 1, 301, 856.00 $ 6,890,060.00 $ 1,409,940.00 $ - $ 1,013,600.00 $ 5,683, 841.00 $ 1,316,159.00 $ - $ 48, 581.00 $ 217,171,192 106,059,177 - $ 569,900 570,636 $ 174 - $ 912,440 9,926 $ 4 $ 4,510,185.00 $ 7,520,000.00 $ 172,764.00 - $ 202, 797, 051.00 - $ 3,005,496.00 - $ 3,330,000.00 - $ 1,985,000.00 - $ 2,100,000.00 - $ 2,100,000.00 $ 5,101,735.00 $ 2,450,000.00 $ 814,047.00 - $ 950,000.00 $ 1, 587, 046.00 $ 1,347,632.00 $ 1,275,000.00 - $ 1, 350, 000.00 - $ 938,005.00 - $ 1,095,412.00 - $ 8, 300, 000.00 - $ 8,300,000.00 - $ 1,013,600.00 - $ 700,000.00 $ 48, 581.00 266,7201 $ 299,840,399 ■ Amended Project and Financing Plan, TIRZ #1 DAVID PETTIT 40 fi:onorn(c DewloFweeof