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Agenda Packet TIRZ No. 1 01/27/2014TIF Board Trophy Club Entities Meeting Agenda 100 Municipal Drive Trophy Club, Texas 76262 Svore Municipal Building Boardroom6:00 PMMonday, January 27, 2014 CALL TO ORDER AND ANNOUNCE A QUORUM CITIZEN PRESENTATIONS REGULAR SESSION 1.2014-872-T Discuss and take appropriate action regarding appointing a temporary TIF Board Chair to conduct January 27, 2014 meeting. 2.2014-873-T Discuss and take appropriate action regarding election of a Vice-Chair, and recommending a permanent Chair to the Town Council. 3.2014-874-T Presentation by David Pettit of Preliminary Project and Financing Plan for Tax Increment Reinvestment Zone No. 1. January 27 2014- Trophy Wood_TIF#1_PPFP.pdfAttachments: 4.2014-875-T Discuss and take appropriate action regarding a Resolution approving the Preliminary Project and Financing Plan for Tax Increment Reinvestment Zone No.1. January 27 2014- RZ#1 RESOLUTION.pdfAttachments: 5.2014-876-T Requests for Future Agenda Items. EXECUTIVE SESSION 6.2014-877-T Pursuant to Texas Government Code, Annotated, Subchapter 551, the TIF Board will convene into closed executive session as authorized by: Section 551.087 Deliberation Regarding Economic Development Negotiations to discuss or deliberate the offer of financial or other incentives to a business prospect that the Town seeks to have locate within the territory of the Town. RECONVENE INTO REGULAR SESSION 7.2014-878-T Consider and take appropriate action regarding Executive Session. ADJOURN TIF Board Page 1 of 43 Monday, January 27, 2014 January 27, 2014TIF Board Meeting Agenda Notice is hereby given that a quorum of the Town Council may be in attendance at this meeting. CERTIFICATION I certify that the above notice was posted on the front window of the Svore Municipal Building, 100 Municipal Drive, Trophy Club, Texas, on Friday, January 24, 2014 by 5:00 P.M. in accordance with Chapter 551, Texas Government Code. ________________________________________ Alora Wachholz Economic Development & Marketing Coordinator If you plan to attend this public meeting and have a disability that requires special needs, please contact the Town Secretary’s Office at 682-831-4600, 48 hours in advance and reasonable accommodations will be made to assist you. I certify that the attached notice and agenda of items to be considered by this Board was removed by me from the front window of the Svore Municipal Building, 100 Municipal Drive, Trophy Club, Texas, on the __________ day of ______________________, 2014. ________________________________, Title: ___________________________ TIF Board Page 2 of 43 Monday, January 27, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-872-T Name: Status:Type:Agenda Item Regular Session File created:In control:1/23/2014 TIF Board On agenda:Final action: Title:Discuss and take appropriate action regarding appointing a temporary TIF Board Chair to conduct January 27, 2014 meeting. Attachments: Action ByDate Action ResultVer. Discuss and take appropriate action regarding appointing a temporary TIF Board Chair to conduct January 27, 2014 meeting. TIF Board Page 3 of 43 Monday, January 27, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-873-T Name: Status:Type:Agenda Item Regular Session File created:In control:1/23/2014 TIF Board On agenda:Final action: Title:Discuss and take appropriate action regarding election of a Vice-Chair, and recommending a permanent Chair to the Town Council. Attachments: Action ByDate Action ResultVer. Discuss and take appropriate action regarding election of a Vice-Chair, and recommending a permanent Chair to the Town Council. TIF Board Page 4 of 43 Monday, January 27, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-874-T Name: Status:Type:Agenda Item Regular Session File created:In control:1/23/2014 TIF Board On agenda:Final action: Title:Presentation by David Pettit of Preliminary Project and Financing Plan for Tax Increment Reinvestment Zone No. 1. Attachments:January 27 2014- Trophy Wood_TIF#1_PPFP.pdf Action ByDate Action ResultVer. Presentation by David Pettit of Preliminary Project and Financing Plan for Tax Increment Reinvestment Zone No. 1. TIF Board Page 5 of 43 Monday, January 27, 2014 Tax Increment Reinvestment Zone #1 Town of Trophy Club, Texas Economic Development DAVID PETTIT TIF Board Page 6 of 43 Monday, January 27, 2014 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. 1 3 2 4 5 Table of Contents Introduction TIRZ Boundary Current Conditions & Ownership Project Plan Anticipated Development 6 7 8 Financial Feasibility Analysis Terms and Conditions Exhibit A 1 2 6 3 7 8 29 30 Project and Financing Plan, TIRZ #1Economic Development DAVID PETTIT TIF Board Page 7 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 1 Introduction Tax Increment Reinvestment Zone #1, Town of Trophy Club The Town of Trophy Club Tax Increment Reinvestment Zone (TIRZ) #1 is approximately 30.5 acres and is located in the southern portion of the Town of Trophy Club near the intersection of State Highway 114 and Trophy Wood Drive. The majority of the property is currently vacant and located between Baylor Medical Center at Trophy Club and Value Place Hotel. The only property that is currently developed is the Hampton Inn and Suites at the corner of Trophy Wood Drive and Plaza Drive. The goal of the TIRZ is to facilitate the development of the currently vacant land with retail, office, residential and hospitality uses, while creating a unique cohesive development that builds on the high developments standards already established within the Town. The TIRZ will support these developments through the contribution of 60% of the Town’s real property increment, and 25% of the Town’s $0.01 general fund sales tax generated within the zone. Without the implementation of the TIRZ, the delineated property would continue to impair the sound growth of the municipality. Custom Map July 23, 2013 Made with Esri Business Analyst ©2013 Esri www.esri.com/ba 800-447-9778 Try it Now! Page 1 of 1 114 TW K I N G INVERNESS INDIAN C R E E K COYOTE T W K I N G TR O P H Y W O O D HIL L H I L L C R E S T JAMIE PEBBLE BEACH H E R I T A G E RANCHO LAREDO HAN N A H W Y 1 1 4 CR I C K E T T PLANTATION OAKS V A L L E Y W O O D MA T A D O R R A N C H IR O N M O U N T A I N R A N C H CL A R I D E N R A N C H 114 114 INDIAN C R E E K INVERNESS D R PIN OAK CTINDIAN C R E E K D R T W K I N G R D C L A R I D E N R A N C H R D P E B B L E B E A C H D R HILLC R E S T C T Hampton Inn & Suites Baylor Medical Center at Trophy Club Value Place Hotel Economic Development DAVID PETTIT TIF Board Page 8 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 2 TIRZ Boundary 114 TW K I N G INVERNESS INDIAN C R E E K COYOTE T W K I N G TR O P H Y W O O D HIL L H I L L C R E S T JAMIE PEBBLE BEACH H E R I T A G E RANCHO LAREDO HAN N A H W Y 1 1 4 CR I C K E T T PLANTATION OAKS V A L L E Y W O O D MA T A D O R R A N C H IR O N M O U N T A I N R A N C H CL A R I D E N R A N C H 114 114 INDIAN C R E E K INVERNESS DR PIN OAK CTINDIAN C R E E K D R T W K I N G R D C L A R I D E N R A N C H R D P E B B L E B E A C H D R HILLC R E S T C T Point of Begining: Intersection of the northern ROW line of State Highway 114 and the western property line of J Henry Survey A-742, Tract 1E Western property line of J Henry Survey A-742, Tract 3R2 Northern property line of J Henry Survey A-742, Tract 1E Western ROW line of Trophy Wood Drive Northern ROW line of Indian Creek Drive Eastern ROW line of Trophy Wood Drive Northern property line of J Henry Survey A-742, Trophy Wood Business Center, Block B lot 4 Western ROW line of TW King Road Western property line of J Henry Survey A-742, Trophy Wood Business Center, Block B lot 1R Southern ROW line of Plaza Drive Northern ROW Line of State Highway 114 TIRZ Boundary Description Beginning at the intersection of the Northern Right-of-Way (ROW) line of State Highway 114 and the western property line of J Henry Survey A-742, Tract 1E, thence North along the western property line of J Henry Survey A-742, Tract 1E to a point where said line intersects with the northern property line of J Henry Survey A-742, Tract 1E, thence East along the northern property line of J Henry Survey A-742, Tract 1E to a point where said line intersects with the western property line of J Henry Survey A-742, Tract 3R2, thence Northwestward along the property line of J Henry Survey A-742, Tract 3R2 to a point where said line intersects with the western ROW line of Trophy Wood Drive, thence Northward along the western ROW line of Trophy Wood Drive to a point where the projection of said line intersects with the northern ROW line of Indian Creek Drive, thence East along the northern ROW line of Indian Creek Drive to a point where said line intersects with the projection of the eastern ROW line of Trophy Wood Drive, thence South along the eastern ROW line of Trophy Wood Drive to a point where said line intersects with the northern property line of J Henry Survey A-742, Trophy Wood Business Center, Block B lot 4, thence East along the northern property line of J Henry Survey A-742, Trophy Wood Business Center, Block B lot 4 to a point where said line intersects with the western ROW line of TW King Road, thence South along the western ROW line of TW King Road to a point where said line intersects with the southern ROW line of Plaza Drive, thence West along the southern ROW line of Plaza Drive to a point where said line intersects with the western property line of J Henry Survey A-742, Trophy Wood Business Center, Block B lot 1R, thence Southward along the western property line of J Henry Survey A-742, Trophy Wood Business Center, Block B lot 1R to a point where said line intersects with the Northern ROW line of State Highway 114, thence Westward along the Northern ROW line of State Highway 114 to a point where said line intersects with the western property line of J Henry Survey A-742, Tract 1E, which is the point of beginning. Economic Development DAVID PETTIT TIF Board Page 9 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 3 Current Conditions Land Use The majority of the land within the TIRZ is currently vacant. The one exception is the Hampton Inn and Suites at the corner of Trophy Wood Drive and Plaza Drive. Method of Relocating Persons to be Displaced The majority of the land is currently vacant undeveloped land and it is not anticipated that any persons will be displaced or need to be relocated as result of implementing the TIRZ. Looking east with SH-114 on the right Looking north with SH-114 in the foreground Looking southwest with SH-114 on the far side of the image Looking west with SH-114 on the left - Approximate location of TIRZ # 1 boundary Economic Development DAVID PETTIT TIF Board Page 10 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 4 Current Conditions Zoning The TIRZ property currently has two Planed Developments (PD) in place along with a portion zoned Commercial General (CG). Changes to Zoning Ordinance As new development is advanced it is likely that the current zoning will be change to accommodate the development. It is not anticipated that there will be any changes to the building code or other municipal ordinances at this time. Economic Development DAVID PETTIT TIF Board Page 11 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 5 Current Conditions Current Ownership Information There are a number of different property owners throughout the TIRZ, but the majority of land is owned by Highway 114 Prospects LP and Trophy Lodging LLP. The TIRZ has a current real property base value of $8,872,521 and a sales tax base of $0.00. For a full list of parcels included within the TIRZ see Exhibit A. 65145017510020000 65019643010020700 65019643010020400 65145017510030000 114 TW K I N G INVERNESS INDIAN C R E E K COYOTE T W K I N G TR O P H Y W O O D HIL L H I L L C R E S T JAMIE PEBBLE BEACH H E R I T A G E RANCHO LAREDO HANN A H W Y 1 1 4 CR I C K E T T PLANTATION OAKS V A L L E Y W O O D MA T A D O R R A N C H IR O N M O U N T A I N R A N C H CL A R I D E N R A N C H 114 114 INDIAN C R E E K INVERNESS D R PIN OAK CTINDIAN C R E E K D R T W K I N G R D C L A R I D E N R A N C H R D P E B B L E B E A C H D R HILLC R E S T C T Tc Hospital Lp Trophy Lodging LLP Hydra Hotels Llc Highway 114 Prospect Ltd Shri Siddhi Vinayak Llc Highway 114 Prospect Ltd Highway 114 Prospect Ltd Highway 114 Prospect Ltd Highway 114 Prospect Ltd Trophy Club Mun Util Dist #1 Economic Development DAVID PETTIT TIF Board Page 12 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 6 Project Plan 114 TW K I N G INVERNESS INDIAN C R E E K COYOTE T W K I N G TR O P H Y W O O D HIL L H I L L C R E S T JAMIE PEBBLE BEACH H E R I T A G E RANCHO LAREDO HAN N A H W Y 1 1 4 CR I C K E T T PLANTATION O A K S V A L L E Y W O O D MA T A D O R R A N C H IR O N M O U N T A I N R A N C H CL A R I D E N R A N C H 114 114 INDIAN C R E E K INVERNESS D R PIN OAK CTINDIAN C R E E K D R T W K I N G R D C L A R I D E N R A N C H R D P E B B L E B E A C H D R HILLC R E S T C T Legend - Retail Site Improvements - Roadway Improvements - Intersection Improvements Project Costs of the Zone There are a number of improvements within Tax Increment Reinvestment Zone #1 that will be financed by incremental real property and sales tax generated within the TIRZ. The map to the left shows an overview of the approximate location of the improvements, while estimates of costs are listed below. Project Costs Total Retail Site Improvements $1,500,000 Land Costs Reimbursements $1,500,000 Roadway Improvements $1,000,000 Landscaping and Hardscaping $400,000 Intersection Improvements $500,000 Economic Development Grants $300,000 Administrative Costs $200,000 Total Project Costs $5,400,000 Items without approximate locations shown in the map to the left will be applied throughout the zone as development occurs. 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. It is estimated that project costs obligations will arise with new developments and will be reimbursed by the TIRZ on a pay as you go basis. Economic Development DAVID PETTIT TIF Board Page 13 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 7 Anticipated Development Hampton Inn Retail Pad Sites Office Medical Office Buildings (MOB) Office Legend - Block A Hampton In (2015) - 95 Rooms Homewood (2017) - 108 Rooms Retail (2017) - 21,900 square feet Retail (2018) - 11,000 square feet Oce (2018) - 6,000 Square Feet - Block B MOB (2016) - 10,000 Square Feet Oce (2019) - 20,000 Square Feet - Block C (2018) Oce - 20,000 Square Feet - Block D (2016) Holiday Inn - 138 Rooms - Block E (2015) Residential - 35 Units Anticipated Development There are several projects anticipated to be developed within TIRZ #1 including restaurants, office space, hospitality and residential. The map to the left provides an overview of potential developments 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. Site plans on the map to the left should be considered conceptual drafts at this point and may not accurately portray the final developments. Economic Development DAVID PETTIT TIF Board Page 14 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 8 Financial Feasibility Analysis Method of Financing To fund the public improvements outlined on the previous pages, it is anticipated that the Town of Trophy Club will contribute 60% of its incremental real property tax revenue and 25% of its $0.01 General Fund Sales Tax to the TIRZ Fund. Additionally, it is proposed that Tarrant County would contribute 60% of its revenue to the TIRZ fund. Town of Trophy Club TIRZ #1 Participation Overview TIRZ Participation Overview Ad Valorem Tax Rate Participation % Participation Rate Trophy Club 0.5185430 60.00%0.3111258 Northwest ISD 1.3750000 0.00%0.0000000 Tarrant County 0.2640000 60.00%0.1584000 Hospital District 0.2278970 0.00%0.0000000 TCCD 0.1489700 0.00%0.0000000 Trophy CLUB MUD 1 0.1333900 0.00%0.0000000 Total 2.6678000 0.4695258 Sales Tax Rate Participation % Participation Rate Town of Trophy Club General Fund 1.00%25.00%0.25% EDC 0.50%0.00%0.00% Crime Control 0.25%0.00%0.00% Street Maintenance 0.25%0.00%0.00% Total 2.00%0.25% 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 preliminary 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 to the right. The following pages show 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 Town with economic benefits that would not occur without its implementation. Anticipated Revenue Summary Based upon the assumptions above, the anticipated gross revenue of TIRZ #1 over its 21 year life is shown below. •Total Sales Tax Revenue $744,274 •Total Ad Valorem $4,656,756 •Total Revenue $5,401,030 Block Use Square Feet/Units Appraised Value PSF/Unit Estimated Appraised Value First Year of Tax Revenue Current Parcels Owner Name Land Improvement Appraised Value A Hampton Inn*53,000 110$ 2,429,896$ 2015 41245660 Highway 114 Prospect Ltd 759,369$ -$ 759,369$ A Homewood Suites 65,000 110$ 7,150,000$ 2017 40778509 Maguire Partners Westlake Ps 1,061,514$ -$ 1,061,514$ A Restaurant 1 8,900 200$ 1,780,000$ 2017 40760057 Tc Hospital Lp 1,076,345$ -$ 1,076,345$ A Restaurant 2 7,000 200$ 1,400,000$ 2017 40760006 Highway 114 Prospect Ltd 4,875$ -$ 4,875$ A Restaurant 3 6,000 200$ 1,200,000$ 2017 40760014 Highway 114 Prospect Ltd 151,047$ -$ 151,047$ A Retail 11,000 200$ 2,200,000$ 2018 40760065 Trophy Club Mun Util Dist #1 -$ -$ -$ A Office 6,000 200$ 1,200,000$ 2018 41449800 Highway 114 Prospect Ltd 268,132$ -$ 268,132$ B MOB 30,000 250$ 7,500,000$ 2016 41449797 Hydra Hotels Llc 462,149$ -$ 462,149$ C Office 20,000 200$ 4,000,000$ 2019 41451600 Shri Siddhi Vinayak Llc 795,340$ -$ 795,340$ D Holiday Inn 80,000 110$ 8,800,000$ 2016 41451597 Highway 114 Prospect Ltd 49,153$ -$ 49,153$ E Residential 35 250,000$ 8,750,000$ 2015 41451597 Highway 114 Prospect Ltd 49,153$ -$ 49,153$ Total 46,409,896$ 41451600 Shri Siddhi Vinayak Llc 795,340$ -$ 795,340$ * Excludes partial value for 2013 5,472,417$ -$ 5,472,417$ Block Use Square Feet/Units Taxable Sales PSF/Unit Estimated $QQXDO 6DOHV First Year of Tax Revenue A Hampton Inn 95 2,000$ 190,000$ 2014 A Homewood Suites 108 2,000$ 216,000$ 2016 A Restaurant 1 8,900 400$ 3,560,000$ 2016 A Restaurant 2 7,000 300$ 2,100,000$ 2016 A Restaurant 3 6,000 350$ 2,100,000$ 2016 A Retail 11,000 300$ 3,300,000$ 2017 A Office 6,000 -$ -$ NA B MOB 30,000 -$ -$ NA C Office 20,000 -$ -$ NA D Holiday Inn 138 2,000$ 276,000$ 2016 E Residential 35 -$ -$ NA Total 11,742,000$ TIRZ #1 Trophy Wood Development Overview by Type Type Square Feet/Units Appraised Value PSF/Unit Estimated Appraised Value Retail 32,900 200$ 6,580,000$ Office 56,000 227$ 12,700,000$ Residential 35 250,000$ 8,750,000$ Hotel 198,000 110$ 21,780,000$ Total 286,935 49,810,000$ TIRZ #1 Trophy Wood Development Overview by Block Real Property TIRZ #1 Trophy Wood Development Overview by Block Sales Tax Economic Development DAVID PETTIT TIF Board Page 15 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 9 Financial Feasibility Analysis TAXABLE BASE YEAR GROWTH 1.00% DISCOUNT RATE 6.00% Trophy Club 0.5185430 60% 0.3111258 Trophy Club 0.5185430 0% 0.0000000 Northwest ISD 1.3750000 0% 0.0000000 Northwest ISD 1.3750000 0% 0.0000000 Tarrant County 0.2640000 60% 0.1584000 Tarrant County 0.2640000 0% 0.0000000 Hospital District 0.2278970 0% 0.0000000 Hospital District 0.2278970 0% 0.0000000 TCCD 0.1489700 0% 0.0000000 TCCD 0.1489700 0% 0.0000000 Trophy CLUB MUD 1 0.1333900 0% 0.0000000 Trophy CLUB MUD 1 0.1333900 0% 0.0000000 2.6678000 0.4695258 2.6678000 0.0000000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 REVENUE YEAR 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 TOTALS BASE YEAR Trophy Club 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 Northwest ISD 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 Tarrant County 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 Hospital District 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 TCCD 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 Trophy CLUB MUD 1 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 TAXABLE VALUE Trophy Club 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 Northwest ISD 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 Tarrant County 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 Hospital District 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 TCCD 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 Trophy CLUB MUD 1 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 TAXABLE VALUE INCREMENT Trophy Club 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 Northwest ISD 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 Tarrant County 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 Hospital District 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 TCCD 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 Trophy CLUB MUD 1 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 REVENUE A TAXABLE VALUE GROWTH OF EXISTING PROPERTIES Trophy Club 276 555 836 1,121 1,408 1,698 1,991 2,287 2,586 2,888 3,193 3,501 3,812 4,126 4,444 4,764 5,088 5,415 5,745 6,078 61,812 Trophy Club Northwest ISD 0 0 0 000000000000000000Northwest ISD Tarrant County 141 282 426 571 717 865 1,014 1,164 1,317 1,470 1,626 1,782 1,941 2,101 2,262 2,425 2,590 2,757 2,925 3,095 31,470 Tarrant County Hospital District 0 0 0 000000000000000000Hospital District TCCD 0 0 0 000000000000000000TCCD Trophy CLUB MUD 1 0 0 0 000000000000000000Trophy CLUB MUD 1 npv @ 6% SUBTOTAL A 43,524 417 837 1,262 1,692 2,125 2,563 3,005 3,452 3,903 4,358 4,819 5,283 5,753 6,227 6,706 7,189 7,678 8,171 8,670 9,173 93,282 REVENUE #1 - BLOCK A REAL PROPERTY TAX 5,830,000 5,888,300 17,418,300 20,818,300 21,026,483 21,236,748 21,449,115 21,663,606 21,880,243 22,099,045 22,320,035 22,543,236 22,768,668 22,996,355 23,226,318 23,458,582 23,693,167 23,930,099 24,169,400 24,411,094 BUSINESS PERSONAL PROPERTY 1,590,000 1,605,900 3,993,900 4,273,900 4,316,639 4,359,805 4,403,403 4,447,437 4,491,912 4,536,831 4,582,199 4,628,021 4,674,301 4,721,045 4,768,255 4,815,937 4,864,097 4,912,738 4,961,865 5,011,484 Trophy Club 18,139 18,320 54,193 64,771 65,419 66,073 66,734 67,401 68,075 68,756 69,443 70,138 70,839 71,548 72,263 72,986 73,716 74,453 75,197 75,949 1,284,412 Trophy Club Northwest ISD 0 0 0 000000000000000000Northwest ISD Tarrant County 9,235 9,327 27,591 32,976 33,306 33,639 33,975 34,315 34,658 35,005 35,355 35,708 36,066 36,426 36,790 37,158 37,530 37,905 38,284 38,667 653,918 Tarrant County Hospital District 0 0 0 000000000000000000Hospital District TCCD 0 0 0 000000000000000000TCCD Trophy CLUB MUD 1 0 0 0 000000000000000000Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #1 1,038,601 27,373 27,647 81,783 97,747 98,725 99,712 100,709 101,716 102,733 103,761 104,798 105,846 106,905 107,974 109,054 110,144 111,246 112,358 113,482 114,616 1,938,330 REVENUE #2 - BLOCK B REAL PROPERTY TAX 0 2,500,000 2,525,000 2,550,250 7,500,000 7,575,000 7,650,750 7,727,258 7,804,530 7,882,575 7,961,401 8,041,015 8,121,425 8,202,640 8,284,666 8,367,513 8,451,188 8,535,700 8,621,057 8,707,267 BUSINESS PERSONAL PROPERTY 0 300,000 303,000 306,030 900,000 909,000 918,090 927,271 936,544 945,909 955,368 964,922 974,571 984,317 994,160 1,004,102 1,014,143 1,024,284 1,034,527 1,044,872 Trophy Club 0 7,778 7,856 7,934 23,334 23,568 23,803 24,041 24,282 24,525 24,770 25,018 25,268 25,521 25,776 26,033 26,294 26,557 26,822 27,091 426,271 Trophy Club Northwest ISD 0 0 0 000000000000000000Northwest ISD Tarrant County 0 3,960 4,000 4,040 11,880 11,999 12,119 12,240 12,362 12,486 12,611 12,737 12,864 12,993 13,123 13,254 13,387 13,521 13,656 13,792 217,023 Tarrant County Hospital District 0 0 0 000000000000000000Hospital District TCCD 0 0 0 000000000000000000TCCD Trophy CLUB MUD 1 0 0 0 000000000000000000Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #2 330,249 0 11,738 11,856 11,974 35,214 35,567 35,922 36,281 36,644 37,011 37,381 37,755 38,132 38,514 38,899 39,288 39,681 40,077 40,478 40,883 643,294 ESTIMATE OF GENERAL IMPACT OF PROPOSED ZONE PROPERTY VALUES AND TAX REVENUES BUSINESS PERSONAL PROPERTY TAXREAL PROPERTY TAX Sales Tax Participation 0.25% Economic Development DAVID PETTIT TIF Board Page 16 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 10 REVENUE #3 - BLOCK C REAL PROPERTY TAX 0 0 0 0 4,000,000 4,040,000 4,080,400 4,121,204 4,162,416 4,204,040 4,246,081 4,288,541 4,331,427 4,374,741 4,418,489 4,462,673 4,507,300 4,552,373 4,597,897 4,643,876 BUSINESS PERSONAL PROPERTY 0 0 0 0 400,000 404,000 408,040 412,120 416,242 420,404 424,608 428,854 433,143 437,474 441,849 446,267 450,730 455,237 459,790 464,388 Trophy Club 0 0 0 0 12,445 12,569 12,695 12,822 12,950 13,080 13,211 13,343 13,476 13,611 13,747 13,885 14,023 14,164 14,305 14,448 214,775 Trophy Club Northwest ISD 0 0 0 000000000000000000Northwest ISD Tarrant County 0 0 0 0 6,336 6,399 6,463 6,528 6,593 6,659 6,726 6,793 6,861 6,930 6,999 7,069 7,140 7,211 7,283 7,356 109,346 Tarrant County Hospital District 0 0 0 000000000000000000Hospital District TCCD 0 0 0 000000000000000000TCCD Trophy CLUB MUD 1 0 0 0 000000000000000000Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #3 160,194 0 0 0 0 18,781 18,969 19,159 19,350 19,544 19,739 19,936 20,136 20,337 20,541 20,746 20,953 21,163 21,375 21,588 21,804 324,121 REVENUE #4 - BLOCK D REAL PROPERTY TAX 0 8,800,000 8,888,000 8,976,880 9,066,649 9,157,315 9,248,888 9,341,377 9,434,791 9,529,139 9,624,430 9,720,675 9,817,881 9,916,060 10,015,221 10,115,373 10,216,527 10,318,692 10,421,879 10,526,098 BUSINESS PERSONAL PROPERTY 0 2,400,000 2,424,000 2,448,240 2,472,722 2,497,450 2,522,424 2,547,648 2,573,125 2,598,856 2,624,845 2,651,093 2,677,604 2,704,380 2,731,424 2,758,738 2,786,325 2,814,189 2,842,331 2,870,754 Trophy Club 0 27,379 27,653 27,929 28,209 28,491 28,776 29,063 29,354 29,648 29,944 30,244 30,546 30,851 31,160 31,472 31,786 32,104 32,425 32,749 569,783 Trophy Club Northwest ISD 0 0 0 000000000000000000Northwest ISD Tarrant County 0 13,939 14,079 14,219 14,362 14,505 14,650 14,797 14,945 15,094 15,245 15,398 15,552 15,707 15,864 16,023 16,183 16,345 16,508 16,673 290,087 Tarrant County Hospital District 0 0 0 000000000000000000Hospital District TCCD 0 0 0 000000000000000000TCCD Trophy CLUB MUD 1 0 0 0 000000000000000000Trophy CLUB MUD 1 SUBTOTAL #4 468,303 0 41,318 41,731 42,149 42,570 42,996 43,426 43,860 44,299 44,742 45,189 45,641 46,097 46,558 47,024 47,494 47,969 48,449 48,933 49,423 859,870 REVENUE #5 - BLOCK E REAL PROPERTY TAX 0 2,887,500 5,775,000 8,750,000 8,837,500 8,925,875 9,015,134 9,105,285 9,196,338 9,288,301 9,381,184 9,474,996 9,569,746 9,665,444 9,762,098 9,859,719 9,958,316 10,057,899 10,158,478 10,260,063 BUSINESS PERSONAL PROPERTY 00000000000000000000 Trophy Club 0 8,984 17,968 27,224 27,496 27,771 28,048 28,329 28,612 28,898 29,187 29,479 29,774 30,072 30,372 30,676 30,983 31,293 31,606 31,922 528,693 Trophy Club Northwest ISD 0 0 0 000000000000000000Northwest ISD Tarrant County 0 4,574 9,148 13,860 13,999 14,139 14,280 14,423 14,567 14,713 14,860 15,008 15,158 15,310 15,463 15,618 15,774 15,932 16,091 16,252 269,167 Tarrant County Hospital District 0 0 0 000000000000000000Hospital District TCCD 0 0 0 000000000000000000TCCD Trophy CLUB MUD 1 0 0 0 000000000000000000Trophy CLUB MUD 1 SUBTOTAL #5 421,303 0 13,558 27,115 41,084 41,494 41,909 42,328 42,752 43,179 43,611 44,047 44,488 44,932 45,382 45,836 46,294 46,757 47,224 47,697 48,174 797,860 REVENUE #6 - SALES SALES TAX 190,000 8,442,000 11,744,760 15,047,548 15,198,023 15,350,003 15,503,503 15,658,538 15,815,124 15,973,275 16,133,008 16,294,338 16,457,281 16,621,854 16,788,073 16,955,953 17,125,513 17,296,768 17,469,736 17,644,433 SUBTOTAL #6 397,763 475 21,105 29,362 37,619 37,995 38,375 38,759 39,146 39,538 39,933 40,333 40,736 41,143 41,555 41,970 42,390 42,814 43,242 43,674 44,111 744,274 TIF REVENUE A, 1, 2, 3, 4, 5, 6 28,265 116,203 193,110 232,264 276,905 280,091 283,308 286,558 289,840 293,155 296,503 299,885 303,300 306,750 310,234 313,753 317,307 320,896 324,522 328,184 5,401,030 Total Taxable Value 14,791,246 29,126,659 43,747,667 50,328,211 59,755,741 60,353,298 60,956,831 61,566,399 62,182,063 62,803,884 63,431,923 64,066,242 64,706,904 65,353,973 66,007,513 66,667,588 67,334,264 68,007,607 68,687,683 69,374,560 . TIF Revenue Running Total 28,265 144,468 337,578 569,842 846,747 1,126,838 1,410,146 1,696,703 1,986,543 2,279,698 2,576,201 2,876,086 3,179,386 3,486,135 3,796,369 4,110,122 4,427,428 4,748,325 5,072,847 5,401,030 NET PRESENT VALUE @ 6%2,859,937 GROSS 5,401,030 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Trophy Club 2,029,294$ 18,890 84,121 137,867 166,598 196,306 198,545 200,806 203,091 205,398 207,728 210,081 212,458 214,858 217,283 219,732 222,205 224,703 227,226 229,775 232,349 3,830,020 Northwest ISD -$ 000000000000000000000 Tarrant County 830,643$ 9,375 32,083 55,242 65,666 80,599 81,546 82,502 83,467 84,442 85,427 86,422 87,427 88,442 89,467 90,502 91,547 92,603 93,670 94,747 95,835 1,571,011 Hospital District -$ 000000000000000000000 TCCD -$ 000000000000000000000 Trophy CLUB MUD 1 -$ 000000000000000000000 TOTALS 28,265 116,203 193,110 232,264 276,905 280,091 283,308 286,558 289,840 293,155 296,503 299,885 303,300 306,750 310,234 313,753 317,307 320,896 324,522 328,184 5,401,030 Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 17 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 11 Financial Feasibility Analysis $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 Total Annual Tax Revenue Generated Trophy CLUB MUD 1 Tarrant County Northwest ISD Trophy Club $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 Potential TIRZ Tax Revenue Tarrant County Trophy Club 8,945,786 15,826,936 3,038,772 2,623,208 1,369,297 1,535,385 20 Year Gross Economic Impact Trophy Club Northwest ISD Tarrant County Hospital District TCCD 3,830,020 1,571,011 20 Year Potential TIF Revenue Trophy Club Tarrant County 5,115,767 15,826,936 1,467,761 2,623,208 1,369,297 1,535,385 20 Year Net Benefit Trophy Club Northwest ISD Tarrant County Hospital District TCCD Economic Development DAVID PETTIT TIF Board Page 18 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 12 ►INPUT INFLATION RATE 1.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.51854300 60%0.3111258 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 60%0.1584000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.4695258 PERSONAL PROPERTY TAX Trophy Club 0.51854300 0%0.0000000 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 0%0.0000000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.0000000 Sales Tax Rate 0.0100000 25.00%0.0025000 Block A AREA Year SF/UNITS $ / SF TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE Hampton Inn* 2015 53,000 110.00$ 5,830,000$ 30.00$ 1,590,000$ 3.60$ 190,000$ Homewood Suites 2017 65,000 110.00$ 7,150,000$ 30.00$ 1,950,000$ 3.60$ 216,000$ Restaurant 1 2017 8,900 200.00$ 1,780,000$ 20.00$ 178,000$ 400.00$ 3,560,000$ Restaurant 2 2017 7,000 200.00$ 1,400,000$ 20.00$ 140,000$ 300.00$ 2,100,000$ Restaurant 3 2017 6,000 200.00$ 1,200,000$ 20.00$ 120,000$ 350.00$ 2,100,000$ Retail 2018 11,000 200.00$ 2,200,000$ 20.00$ 220,000$ 300.00$ 3,300,000$ Office 2018 6,000 200.00$ 1,200,000$ 10.00$ 60,000$ -$ -$ TOTAL 156,900 20,760,000 4,258,000 11,466,000 ►OUTPUT TOTAL TAX REVENUE TOTAL Trophy Club 33.9%5,506,083$ =2,140,686$ +445,738$ +2,919,659$ Northwest ISD 42.3%6,858,318$ =5,676,373$ +1,181,945$ +-$ Tarrant County 8.1%1,316,797$ =1,089,864$ +226,934$ +-$ Hospital District 7.0%1,136,720$ =940,821$ +195,900$ +-$ TCCD 4.6%743,043$ =614,989$ +128,054$ +-$ Trophy CLUB MUD 1 4.1%665,332$ =550,670$ +114,662$ +-$ 100.0%16,226,293 11,013,401$ 2,293,232$ 2,919,659$ 100.0%67.9%14.1%18.0% TOTAL PARTICIPATION TOTAL Trophy Club 75.5%2,014,326$ =1,284,412$ +-$ +729,915$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Tarrant County 24.5%653,918$ =653,918$ +-$ +-$ Hospital District 0.0%-$ =-$ +-$ +-$ TCCD 0.0%-$ =-$ +-$ +-$ Trophy CLUB MUD 1 0.0%-$ =-$ +-$+-$ 100.0%2,668,245$ 1,938,330$ -$ 729,915$ 100.0%72.6%0.0%27.4% NET BENEFIT TOTAL Trophy Club 25.8%3,491,757$ =856,274$ +445,738$ +2,189,744$ Northwest ISD 50.6%6,858,318$ =5,676,373$ +1,181,945$ +-$ Tarrant County 4.9%662,879$ =435,945$ +226,934$ +-$ Hospital District 8.4%1,136,720$ =940,821$ +195,900$ +-$ TCCD 5.5%743,043$ =614,989$ +128,054$ +-$ Trophy CLUB MUD 1 4.9%665,332$ =550,670$ +114,662$ +-$ 100.0%13,558,048$ 9,075,072$ 2,293,232$ 2,189,744$ 100.0%66.9%16.9%16.2% REAL PROPERTY PERSONAL PROPERTY SALES 20 YEAR - BLOCK A : INPUT & OUTPUT PARTICIPATION PARTICIPATION SALES REAL PROPERTY PERSONAL PROPERTY SALES SALES REAL PROPERTY PERSONAL PROPERTY REAL PROPERTY PERSONAL PROPERTY Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 19 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 13 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 % OCCUPIED 100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% REAL PROPERTY Taxable Value 5,830,000 5,888,300 17,418,300 20,818,300 21,026,483 21,236,748 21,449,115 21,663,606 21,880,243 22,099,045 22,320,035 22,543,236 22,768,668 22,996,355 23,226,318 23,458,582 23,693,167 23,930,099 24,169,400 24,411,094 PV GROSS Trophy Club 1,147,028 30,231 30,533 90,321 107,952 109,031 110,122 111,223 112,335 113,458 114,593 115,739 116,896 118,065 119,246 120,438 121,643 122,859 124,088 125,329 126,582 2,140,686 Northwest ISD 3,041,528 80,163 80,964 239,502 286,252 289,114 292,005 294,925 297,875 300,853 303,862 306,900 309,969 313,069 316,200 319,362 322,555 325,781 329,039 332,329 335,653 5,676,373 Tarrant County 583,973 15,391 15,545 45,984 54,960 55,510 56,065 56,626 57,192 57,764 58,341 58,925 59,514 60,109 60,710 61,317 61,931 62,550 63,175 63,807 64,445 1,089,864 Hospital District 504,113 13,286 13,419 39,696 47,444 47,919 48,398 48,882 49,371 49,864 50,363 50,867 51,375 51,889 52,408 52,932 53,461 53,996 54,536 55,081 55,632 940,821 TCCD 329,525 8,685 8,772 25,948 31,013 31,323 31,636 31,953 32,272 32,595 32,921 33,250 33,583 33,918 34,258 34,600 34,946 35,296 35,649 36,005 36,365 614,989 Trophy CLUB MUD 1 295,061 7,777 7,854 23,234 27,770 28,047 28,328 28,611 28,897 29,186 29,478 29,773 30,070 30,371 30,675 30,982 31,291 31,604 31,920 32,240 32,562 550,670 Total 5,901,228 155,533 157,088 464,685 555,391 560,945 566,554 572,219 577,942 583,721 589,558 595,454 601,408 607,423 613,497 619,632 625,828 632,086 638,407 644,791 651,239 11,013,401 % OCCUPIED 100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% PERSONAL PROPERTY Taxable Value 1,590,000 1,605,900 3,993,900 4,273,900 4,316,639 4,359,805 4,403,403 4,447,437 4,491,912 4,536,831 4,582,199 4,628,021 4,674,301 4,721,045 4,768,255 4,815,937 4,864,097 4,912,738 4,961,865 5,011,484 PV GROSS Trophy Club 241,055 8,245 8,327 20,710 22,162 22,384 22,607 22,834 23,062 23,292 23,525 23,761 23,998 24,238 24,481 24,725 24,973 25,222 25,475 25,729 25,987 445,738 Northwest ISD 639,196 21,863 22,081 54,916 58,766 59,354 59,947 60,547 61,152 61,764 62,381 63,005 63,635 64,272 64,914 65,564 66,219 66,881 67,550 68,226 68,908 1,181,945 Tarrant County 122,726 4,198 4,240 10,544 11,283 11,396 11,510 11,625 11,741 11,859 11,977 12,097 12,218 12,340 12,464 12,588 12,714 12,841 12,970 13,099 13,230 226,934 Hospital District 105,942 3,624 3,660 9,102 9,740 9,837 9,936 10,035 10,136 10,237 10,339 10,443 10,547 10,653 10,759 10,867 10,975 11,085 11,196 11,308 11,421 195,900 TCCD 69,252 2,369 2,392 5,950 6,367 6,430 6,495 6,560 6,625 6,692 6,759 6,826 6,894 6,963 7,033 7,103 7,174 7,246 7,319 7,392 7,466 128,054 Trophy CLUB MUD 1 62,009 2,121 2,142 5,327 5,701 5,758 5,816 5,874 5,932 5,992 6,052 6,112 6,173 6,235 6,297 6,360 6,424 6,488 6,553 6,619 6,685 114,662 Total 1,240,179 42,418 42,842 106,549 114,019 115,159 116,311 117,474 118,649 119,835 121,034 122,244 123,466 124,701 125,948 127,208 128,480 129,764 131,062 132,373 133,696 2,293,232 % OCCUPIED 100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% SALES TAX Taxable Value 190,000 8,166,000 11,466,000 14,766,000 14,913,660 15,062,797 15,213,425 15,365,559 15,519,214 15,674,407 15,831,151 15,989,462 16,149,357 16,310,850 16,473,959 16,638,698 16,805,085 16,973,136 17,142,868 17,314,296 PV GROSS Total 1,559,771 1,900 81,660 114,660 147,660 149,137 150,628 152,134 153,656 155,192 156,744 158,312 159,895 161,494 163,109 164,740 166,387 168,051 169,731 171,429 173,143 2,919,659 SUMMARY PV GROSS Trophy Club 2,947,853 40,376 120,521 225,691 277,774 280,552 283,357 286,191 289,053 291,943 294,863 297,811 300,789 303,797 306,835 309,903 313,003 316,133 319,294 322,487 325,712 5,506,083 Northwest ISD 3,680,724 102,025 103,045 294,418 345,018 348,468 351,953 355,472 359,027 362,617 366,243 369,906 373,605 377,341 381,114 384,925 388,775 392,662 396,589 400,555 404,560 6,858,318 Tarrant County 706,699 19,589 19,785 56,528 66,243 66,906 67,575 68,251 68,933 69,622 70,319 71,022 71,732 72,449 73,174 73,906 74,645 75,391 76,145 76,907 77,676 1,316,797 Hospital District 610,055 16,910 17,079 48,798 57,184 57,756 58,334 58,917 59,506 60,101 60,702 61,309 61,922 62,542 63,167 63,799 64,437 65,081 65,732 66,389 67,053 1,136,720 TCCD 398,776 11,054 11,164 31,898 37,380 37,754 38,131 38,512 38,898 39,287 39,679 40,076 40,477 40,882 41,291 41,704 42,121 42,542 42,967 43,397 43,831 743,043 Trophy CLUB MUD 1 357,070 9,898 9,997 28,562 33,470 33,805 34,143 34,485 34,830 35,178 35,530 35,885 36,244 36,606 36,972 37,342 37,715 38,093 38,473 38,858 39,247 665,332 Total 8,701,178 199,851 281,590 685,895 817,070 825,240 833,493 841,828 850,246 858,748 867,336 876,009 884,769 893,617 902,553 911,579 920,695 929,902 939,201 948,593 958,078 16,226,293 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 20 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 14 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S PARTICIPATION REAL PROPERTY Taxable Value 5,830,000 5,888,300 17,418,300 20,818,300 21,026,483 21,236,748 21,449,115 21,663,606 21,880,243 22,099,045 22,320,035 22,543,236 22,768,668 22,996,355 23,226,318 23,458,582 23,693,167 23,930,099 24,169,400 24,411,094 PV GROSS Trophy Club 688,217 18,139 18,320 54,193 64,771 65,419 66,073 66,734 67,401 68,075 68,756 69,443 70,138 70,839 71,548 72,263 72,986 73,716 74,453 75,197 75,949 1,284,412 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 9,235 9,327 27,591 32,976 33,306 33,639 33,975 34,315 34,658 35,005 35,355 35,708 36,066 36,426 36,790 37,158 37,530 37,905 38,284 38,667 653,918 Hospital District - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,038,601 27,373 27,647 81,783 97,747 98,725 99,712 100,709 101,716 102,733 103,761 104,798 105,846 106,905 107,974 109,054 110,144 111,246 112,358 113,482 114,616 1,938,330 PERSONAL PROPERTY Taxable Value 1,590,000 1,605,900 3,993,900 4,273,900 4,316,639 4,359,805 4,403,403 4,447,437 4,491,912 4,536,831 4,582,199 4,628,021 4,674,301 4,721,045 4,768,255 4,815,937 4,864,097 4,912,738 4,961,865 5,011,484 PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County - - - - - - - - - - - - - - - - - - - - - - Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value 190,000 8,166,000 11,466,000 14,766,000 14,913,660 15,062,797 15,213,425 15,365,559 15,519,214 15,674,407 15,831,151 15,989,462 16,149,357 16,310,850 16,473,959 16,638,698 16,805,085 16,973,136 17,142,868 17,314,296 PV GROSS Total 389,943 475 20,415 28,665 36,915 37,284 37,657 38,034 38,414 38,798 39,186 39,578 39,974 40,373 40,777 41,185 41,597 42,013 42,433 42,857 43,286 729,915 SUMMARY PV GROSS Trophy Club 1,078,159 18,614 38,735 82,858 101,686 102,703 103,730 104,767 105,815 106,873 107,942 109,021 110,111 111,213 112,325 113,448 114,582 115,728 116,886 118,054 119,235 2,014,326 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 9,235 9,327 27,591 32,976 33,306 33,639 33,975 34,315 34,658 35,005 35,355 35,708 36,066 36,426 36,790 37,158 37,530 37,905 38,284 38,667 653,918 Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,428,543 27,848 48,062 110,448 134,662 136,009 137,369 138,743 140,130 141,531 142,947 144,376 145,820 147,278 148,751 150,238 151,741 153,258 154,791 156,339 157,902 2,668,245 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 1,869,694 21,762 81,786 142,834 176,088 177,849 179,627 181,423 183,238 185,070 186,921 188,790 190,678 192,585 194,510 196,456 198,420 200,404 202,408 204,432 206,477 3,491,757 Northwest ISD 3,680,724 102,025 103,045 294,418 345,018 348,468 351,953 355,472 359,027 362,617 366,243 369,906 373,605 377,341 381,114 384,925 388,775 392,662 396,589 400,555 404,560 6,858,318 Tarrant County 356,315 10,354 10,458 28,938 33,267 33,600 33,936 34,275 34,618 34,964 35,314 35,667 36,024 36,384 36,748 37,115 37,486 37,861 38,240 38,622 39,008 662,879 Hospital District 610,055 16,910 17,079 48,798 57,184 57,756 58,334 58,917 59,506 60,101 60,702 61,309 61,922 62,542 63,167 63,799 64,437 65,081 65,732 66,389 67,053 1,136,720 TCCD 398,776 11,054 11,164 31,898 37,380 37,754 38,131 38,512 38,898 39,287 39,679 40,076 40,477 40,882 41,291 41,704 42,121 42,542 42,967 43,397 43,831 743,043 Trophy CLUB MUD 1 357,070 9,898 9,997 28,562 33,470 33,805 34,143 34,485 34,830 35,178 35,530 35,885 36,244 36,606 36,972 37,342 37,715 38,093 38,473 38,858 39,247 665,332 Total 7,272,635 172,002 233,528 575,446 682,407 689,231 696,124 703,085 710,116 717,217 724,389 731,633 738,949 746,339 753,802 761,340 768,954 776,643 784,410 792,254 800,176 13,558,048 Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 21 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 15 ►INPUT INFLATION RATE 1.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.51854300 60%0.3111258 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 60%0.1584000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.4695258 PERSONAL PROPERTY TAX Trophy Club 0.51854300 0%0.0000000 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 0%0.0000000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.0000000 Sales Tax Rate 0.0100000 25.00%0.0025000 Block B AREA Year SF/UNITS $ / SF TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE MOB 2016 30,000 250.00$ 7,500,000$ 30.00$ 900,000$ -$ -$ TOTAL 30,000 7,500,000 900,000 - ►OUTPUT TOTAL TAX REVENUE TOTAL Trophy Club 19.4%795,706$ =710,452$ +85,254$ +-$ Northwest ISD 51.5%2,109,942$ =1,883,877$ +226,065$ +-$ Tarrant County 9.9%405,109$ =361,704$ +43,405$ +-$ Hospital District 8.5%349,709$ =312,240$ +37,469$ +-$ TCCD 5.6%228,595$ =204,103$ +24,492$ +-$ Trophy CLUB MUD 1 5.0%204,687$ =182,757$ +21,931$ +-$ 100.0%4,093,748 3,655,132$ 438,616$ -$ 100.0%89.3%10.7%0.0% TOTAL PARTICIPATION TOTAL Trophy Club 66.3%426,271$ =426,271$ +-$ +-$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Tarrant County 33.7%217,023$ =217,023$ +-$ +-$ Hospital District 0.0%-$ =-$ +-$ +-$ TCCD 0.0%-$ =-$ +-$ +-$ Trophy CLUB MUD 1 0.0%-$ =-$+-$+-$ 100.0%643,294$ 643,294$ -$ -$ 100.0%100.0%0.0%0.0% NET BENEFIT TOTAL Trophy Club 10.7%369,435$ =284,181$ +85,254$ +-$ Northwest ISD 61.1%2,109,942$ =1,883,877$ +226,065$ +-$ Tarrant County 5.5%188,086$ =144,682$ +43,405$ +-$ Hospital District 10.1%349,709$ =312,240$ +37,469$ +-$ TCCD 6.6%228,595$ =204,103$ +24,492$ +-$ Trophy CLUB MUD 1 5.9%204,687$ =182,757$ +21,931$ +-$ 100.0%3,450,455$ 3,011,839$ 438,616$ -$ 100.0%87.3%12.7%0.0% REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY 20 YEAR - BLOCK B : INPUT & OUTPUT PARTICIPATION PARTICIPATION REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY SALES PERSONAL PROPERTY SALES Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 22 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 16 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 % OCCUPIED 0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% REAL PROPERTY Taxable Value - 2,500,000 2,525,000 2,550,250 7,500,000 7,575,000 7,650,750 7,727,258 7,804,530 7,882,575 7,961,401 8,041,015 8,121,425 8,202,640 8,284,666 8,367,513 8,451,188 8,535,700 8,621,057 8,707,267 PV GROSS Trophy Club 1,147,028 - 12,964 13,093 13,224 38,891 39,280 39,672 40,069 40,470 40,875 41,283 41,696 42,113 42,534 42,960 43,389 43,823 44,261 44,704 45,151 710,452 Northwest ISD 3,041,528 - 34,375 34,719 35,066 103,125 104,156 105,198 106,250 107,312 108,385 109,469 110,564 111,670 112,786 113,914 115,053 116,204 117,366 118,540 119,725 1,883,877 Tarrant County 583,973 - 6,600 6,666 6,733 19,800 19,998 20,198 20,400 20,604 20,810 21,018 21,228 21,441 21,655 21,872 22,090 22,311 22,534 22,760 22,987 361,704 Hospital District 504,113 - 5,697 5,754 5,812 17,092 17,263 17,436 17,610 17,786 17,964 18,144 18,325 18,508 18,694 18,881 19,069 19,260 19,453 19,647 19,844 312,240 TCCD 329,525 - 3,724 3,761 3,799 11,173 11,284 11,397 11,511 11,626 11,743 11,860 11,979 12,098 12,219 12,342 12,465 12,590 12,716 12,843 12,971 204,103 Trophy CLUB MUD 1 295,061 - 3,335 3,368 3,402 10,004 10,104 10,205 10,307 10,410 10,515 10,620 10,726 10,833 10,942 11,051 11,161 11,273 11,386 11,500 11,615 182,757 Total 5,901,228 - 66,695 67,362 68,036 200,085 202,086 204,107 206,148 208,209 210,291 212,394 214,518 216,663 218,830 221,018 223,229 225,461 227,715 229,993 232,292 3,655,132 % OCCUPIED 0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% PERSONAL PROPERTY Taxable Value 300,000 303,000 306,030 900,000 909,000 918,090 927,271 936,544 945,909 955,368 964,922 974,571 984,317 994,160 1,004,102 1,014,143 1,024,284 1,034,527 1,044,872 PV GROSS Trophy Club 241,055 - 1,556 1,571 1,587 4,667 4,714 4,761 4,808 4,856 4,905 4,954 5,004 5,054 5,104 5,155 5,207 5,259 5,311 5,364 5,418 85,254 Northwest ISD 639,196 - 4,125 4,166 4,208 12,375 12,499 12,624 12,750 12,877 13,006 13,136 13,268 13,400 13,534 13,670 13,806 13,944 14,084 14,225 14,367 226,065 Tarrant County 122,726 - 792 800 808 2,376 2,400 2,424 2,448 2,472 2,497 2,522 2,547 2,573 2,599 2,625 2,651 2,677 2,704 2,731 2,758 43,405 Hospital District 105,942 - 684 691 697 2,051 2,072 2,092 2,113 2,134 2,156 2,177 2,199 2,221 2,243 2,266 2,288 2,311 2,334 2,358 2,381 37,469 TCCD 69,252 - 447 451 456 1,341 1,354 1,368 1,381 1,395 1,409 1,423 1,437 1,452 1,466 1,481 1,496 1,511 1,526 1,541 1,557 24,492 Trophy CLUB MUD 1 62,009 - 400 404 408 1,201 1,213 1,225 1,237 1,249 1,262 1,274 1,287 1,300 1,313 1,326 1,339 1,353 1,366 1,380 1,394 21,931 Total 1,240,179 - 8,003 8,083 8,164 24,010 24,250 24,493 24,738 24,985 25,235 25,487 25,742 26,000 26,260 26,522 26,787 27,055 27,326 27,599 27,875 438,616 % OCCUPIED 0%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 1,559,771 - - - - - - - - - - - - - - - - - - - - - SUMMARY PV GROSS Trophy Club 2,947,853 - 14,519 14,664 14,811 43,558 43,993 44,433 44,877 45,326 45,779 46,237 46,700 47,167 47,638 48,115 48,596 49,082 49,573 50,068 50,569 795,706 Northwest ISD 3,680,724 - 38,500 38,885 39,274 115,500 116,655 117,822 119,000 120,190 121,392 122,606 123,832 125,070 126,321 127,584 128,860 130,148 131,450 132,764 134,092 2,109,942 Tarrant County 706,699 - 7,392 7,466 7,541 22,176 22,398 22,622 22,848 23,076 23,307 23,540 23,776 24,013 24,254 24,496 24,741 24,988 25,238 25,491 25,746 405,109 Hospital District 610,055 - 6,381 6,445 6,509 19,143 19,335 19,528 19,723 19,921 20,120 20,321 20,524 20,730 20,937 21,146 21,358 21,571 21,787 22,005 22,225 349,709 TCCD 398,776 - 4,171 4,213 4,255 12,513 12,639 12,765 12,893 13,022 13,152 13,283 13,416 13,550 13,686 13,823 13,961 14,101 14,242 14,384 14,528 228,595 Trophy CLUB MUD 1 357,070 - 3,735 3,772 3,810 11,205 11,317 11,430 11,544 11,660 11,776 11,894 12,013 12,133 12,254 12,377 12,501 12,626 12,752 12,880 13,008 204,687 Total 8,701,178 - 74,698 75,445 76,200 224,095 226,336 228,600 230,886 233,194 235,526 237,882 240,260 242,663 245,090 247,541 250,016 252,516 255,041 257,592 260,168 4,093,748 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 23 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 17 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S PARTICIPATION REAL PROPERTY Taxable Value - 2,500,000 2,525,000 2,550,250 7,500,000 7,575,000 7,650,750 7,727,258 7,804,530 7,882,575 7,961,401 8,041,015 8,121,425 8,202,640 8,284,666 8,367,513 8,451,188 8,535,700 8,621,057 8,707,267 PV GROSS Trophy Club 688,217 - 7,778 7,856 7,934 23,334 23,568 23,803 24,041 24,282 24,525 24,770 25,018 25,268 25,521 25,776 26,033 26,294 26,557 26,822 27,091 426,271 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 - 3,960 4,000 4,040 11,880 11,999 12,119 12,240 12,362 12,486 12,611 12,737 12,864 12,993 13,123 13,254 13,387 13,521 13,656 13,792 217,023 Hospital District - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,038,601 - 11,738 11,856 11,974 35,214 35,567 35,922 36,281 36,644 37,011 37,381 37,755 38,132 38,514 38,899 39,288 39,681 40,077 40,478 40,883 643,294 PERSONAL PROPERTY Taxable Value - 300,000 303,000 306,030 900,000 909,000 918,090 927,271 936,544 945,909 955,368 964,922 974,571 984,317 994,160 1,004,102 1,014,143 1,024,284 1,034,527 1,044,872 PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County - - - - - - - - - - - - - - - - - - - - - - Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value - - - - - - - - - - - - - - - - - - - - PV GROSS Total 389,943 - - - - - - - - - - - - - - - - - - - - - SUMMARY PV GROSS Trophy Club 1,078,159 - 7,778 7,856 7,934 23,334 23,568 23,803 24,041 24,282 24,525 24,770 25,018 25,268 25,521 25,776 26,033 26,294 26,557 26,822 27,091 426,271 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 - 3,960 4,000 4,040 11,880 11,999 12,119 12,240 12,362 12,486 12,611 12,737 12,864 12,993 13,123 13,254 13,387 13,521 13,656 13,792 217,023 Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,428,543 - 11,738 11,856 11,974 35,214 35,567 35,922 36,281 36,644 37,011 37,381 37,755 38,132 38,514 38,899 39,288 39,681 40,077 40,478 40,883 643,294 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 1,869,694 - 6,741 6,808 6,877 20,223 20,425 20,630 20,836 21,044 21,255 21,467 21,682 21,899 22,118 22,339 22,562 22,788 23,016 23,246 23,478 369,435 Northwest ISD 3,680,724 - 38,500 38,885 39,274 115,500 116,655 117,822 119,000 120,190 121,392 122,606 123,832 125,070 126,321 127,584 128,860 130,148 131,450 132,764 134,092 2,109,942 Tarrant County 356,315 - 3,432 3,466 3,501 10,296 10,399 10,503 10,608 10,714 10,821 10,929 11,039 11,149 11,261 11,373 11,487 11,602 11,718 11,835 11,953 188,086 Hospital District 610,055 - 6,381 6,445 6,509 19,143 19,335 19,528 19,723 19,921 20,120 20,321 20,524 20,730 20,937 21,146 21,358 21,571 21,787 22,005 22,225 349,709 TCCD 398,776 - 4,171 4,213 4,255 12,513 12,639 12,765 12,893 13,022 13,152 13,283 13,416 13,550 13,686 13,823 13,961 14,101 14,242 14,384 14,528 228,595 Trophy CLUB MUD 1 357,070 - 3,735 3,772 3,810 11,205 11,317 11,430 11,544 11,660 11,776 11,894 12,013 12,133 12,254 12,377 12,501 12,626 12,752 12,880 13,008 204,687 Total 7,272,635 - 62,960 63,590 64,226 188,881 190,770 192,677 194,604 196,550 198,516 200,501 202,506 204,531 206,576 208,642 210,728 212,836 214,964 217,114 219,285 3,450,455 Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 24 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 18 ►INPUT INFLATION RATE 1.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.51854300 60%0.3111258 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 60%0.1584000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.4695258 PERSONAL PROPERTY TAX Trophy Club 0.51854300 0%0.0000000 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 0%0.0000000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.0000000 SALES TAX RATE 0.0100000 25.00%0.0025000 Block C AREA Year SF/UNIT $/SF or $/Unit TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE Office 2019 20,000 200$ 4,000,000$ 20.00$ 400,000$ -$ -$ TOTAL 20,000 4,000,000$ 400,000$ -$ ►OUTPUT TOTAL TAX REVENUE TOTAL Trophy Club 19.4%393,754$ =357,958$ +35,796$ +-$ Northwest ISD 51.5%1,044,101$ =949,183$ +94,918$ +-$ Tarrant County 9.9%200,467$ =182,243$ +18,224$ +-$ Hospital District 8.5%173,053$ =157,321$ +15,732$ +-$ TCCD 5.6%113,120$ =102,836$ +10,284$ +-$ Trophy CLUB MUD 1 5.0%101,289$ =92,081$ +9,208$ +-$ 100.0%2,025,783 1,841,621$ 184,162$ -$ 100.0%90.9%9.1%0.0% TOTAL PARTICIPATION TOTAL Trophy Club 66.3%214,775$ =214,775$ +-$ +-$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Tarrant County 33.7%109,346$ =109,346$ +-$ +-$ Hospital District 0.0%-$ =-$ +-$ +-$ TCCD 0.0%-$ =-$ +-$ +-$ Trophy CLUB MUD 1 0.0%-$ =-$+-$+-$ 100.0%324,121$ 324,121$ -$ -$ 100.0%100.0%0.0%0.0% NET BENEFIT TOTAL Trophy Club 10.5%178,979$ =143,183$ +35,796$ +-$ Northwest ISD 61.4%1,044,101$ =949,183$ +94,918$ +-$ Tarrant County 5.4%91,122$ =72,897$ +18,224$ +-$ Hospital District 10.2%173,053$ =157,321$ +15,732$ +-$ TCCD 6.6%113,120$ =102,836$ +10,284$ +-$ Trophy CLUB MUD 1 6.0%101,289$ =92,081$+9,208$+-$ 100.0%1,701,663$ 1,517,501$ 184,162$ -$ 100.0%89.2%10.8%0.0% 20 YEAR - BLOCK C : INPUT & OUTPUT PARTICIPATION PARTICIPATION REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY SALES SALES REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 25 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 19 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 % OCCUPIED 0%0%0%0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% REAL PROPERTY Taxable Value - - - - 4,000,000 4,040,000 4,080,400 4,121,204 4,162,416 4,204,040 4,246,081 4,288,541 4,331,427 4,374,741 4,418,489 4,462,673 4,507,300 4,552,373 4,597,897 4,643,876 PV GROSS Trophy Club 1,147,028 - - - - 20,742 20,949 21,159 21,370 21,584 21,800 22,018 22,238 22,460 22,685 22,912 23,141 23,372 23,606 23,842 24,080 357,958 Northwest ISD 3,041,528 - - - - 55,000 55,550 56,106 56,667 57,233 57,806 58,384 58,967 59,557 60,153 60,754 61,362 61,975 62,595 63,221 63,853 949,183 Tarrant County 583,973 - - - - 10,560 10,666 10,772 10,880 10,989 11,099 11,210 11,322 11,435 11,549 11,665 11,781 11,899 12,018 12,138 12,260 182,243 Hospital District 504,113 - - - - 9,116 9,207 9,299 9,392 9,486 9,581 9,677 9,773 9,871 9,970 10,070 10,170 10,272 10,375 10,478 10,583 157,321 TCCD 329,525 - - - - 5,959 6,018 6,079 6,139 6,201 6,263 6,325 6,389 6,453 6,517 6,582 6,648 6,715 6,782 6,849 6,918 102,836 Trophy CLUB MUD 1 295,061 - - --5,336 5,389 5,443 5,497 5,552 5,608 5,664 5,720 5,778 5,835 5,894 5,953 6,012 6,072 6,133 6,194 92,081 Total 5,901,228 - - - - 106,712 107,779 108,857 109,945 111,045 112,155 113,277 114,410 115,554 116,709 117,876 119,055 120,246 121,448 122,663 123,889 1,841,621 % OCCUPIED 0%0%0%0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% PERSONAL PROPERTY Taxable Value - - - 400,000 404,000 408,040 412,120 416,242 420,404 424,608 428,854 433,143 437,474 441,849 446,267 450,730 455,237 459,790 464,388 PV GROSS Trophy Club 241,055 - - - - 2,074 2,095 2,116 2,137 2,158 2,180 2,202 2,224 2,246 2,268 2,291 2,314 2,337 2,361 2,384 2,408 35,796 Northwest ISD 639,196 - - - - 5,500 5,555 5,611 5,667 5,723 5,781 5,838 5,897 5,956 6,015 6,075 6,136 6,198 6,260 6,322 6,385 94,918 Tarrant County 122,726 - - - - 1,056 1,067 1,077 1,088 1,099 1,110 1,121 1,132 1,143 1,155 1,166 1,178 1,190 1,202 1,214 1,226 18,224 Hospital District 105,942 - - --912 921 930 939 949 958 968 977 987 997 1,007 1,017 1,027 1,037 1,048 1,058 15,732 TCCD 69,252 - - --596 602 608 614 620 626 633 639 645 652 658 665 671 678 685 692 10,284 Trophy CLUB MUD 1 62,009 - - - - 534 539 544 550 555 561 566 572 578 584 589 595 601 607 613 619 9,208 Total 1,240,179 - - - - 10,671 10,778 10,886 10,995 11,104 11,216 11,328 11,441 11,555 11,671 11,788 11,906 12,025 12,145 12,266 12,389 184,162 % OCCUPIED 0%0%0%0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% SALES TAX Taxable Value - - - - - - - - - - - - - - - - - - - PV GROSS Total 1,559,771 - - - - - - - - - - - - - - - - - - - - - SUMMARY PV GROSS Trophy Club 2,947,853 - - - - 22,816 23,044 23,274 23,507 23,742 23,980 24,220 24,462 24,706 24,953 25,203 25,455 25,710 25,967 26,226 26,489 393,754 Northwest ISD 3,680,724 - - - - 60,500 61,105 61,716 62,333 62,957 63,586 64,222 64,864 65,513 66,168 66,830 67,498 68,173 68,855 69,543 70,239 1,044,101 Tarrant County 706,699 - - - - 11,616 11,732 11,849 11,968 12,088 12,209 12,331 12,454 12,578 12,704 12,831 12,960 13,089 13,220 13,352 13,486 200,467 Hospital District 610,055 - - - - 10,027 10,128 10,229 10,331 10,435 10,539 10,644 10,751 10,858 10,967 11,077 11,187 11,299 11,412 11,526 11,642 173,053 TCCD 398,776 - - - - 6,555 6,620 6,686 6,753 6,821 6,889 6,958 7,028 7,098 7,169 7,240 7,313 7,386 7,460 7,534 7,610 113,120 Trophy CLUB MUD 1 357,070 - - - - 5,869 5,928 5,987 6,047 6,107 6,169 6,230 6,293 6,355 6,419 6,483 6,548 6,614 6,680 6,746 6,814 101,289 Total 8,701,178 - - - - 117,383 118,557 119,743 120,940 122,149 123,371 124,605 125,851 127,109 128,380 129,664 130,961 132,270 133,593 134,929 136,278 2,025,783 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 26 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 20 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S PARTICIPATION REAL PROPERTY Taxable Value - - - - 4,000,000 4,040,000 4,080,400 4,121,204 4,162,416 4,204,040 4,246,081 4,288,541 4,331,427 4,374,741 4,418,489 4,462,673 4,507,300 4,552,373 4,597,897 4,643,876 PV GROSS Trophy Club 688,217 - - - - 12,445 12,569 12,695 12,822 12,950 13,080 13,211 13,343 13,476 13,611 13,747 13,885 14,023 14,164 14,305 14,448 214,775 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 - - - - 6,336 6,399 6,463 6,528 6,593 6,659 6,726 6,793 6,861 6,930 6,999 7,069 7,140 7,211 7,283 7,356 109,346 Hospital District - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,038,601 - - - - 18,781 18,969 19,159 19,350 19,544 19,739 19,936 20,136 20,337 20,541 20,746 20,953 21,163 21,375 21,588 21,804 324,121 PERSONAL PROPERTY Taxable Value - - - - 400,000 404,000 408,040 412,120 416,242 420,404 424,608 428,854 433,143 437,474 441,849 446,267 450,730 455,237 459,790 464,388 PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County - - - - - - - - - - - - - - - - - - - - - - Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value - - - - - - - - - - - - - - - - - - - - PV GROSS Total 389,943 - - - - - - - - - - - - - - - - - - - - - SUMMARY PV GROSS Trophy Club 1,078,159 - - - - 12,445 12,569 12,695 12,822 12,950 13,080 13,211 13,343 13,476 13,611 13,747 13,885 14,023 14,164 14,305 14,448 214,775 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 - - - - 6,336 6,399 6,463 6,528 6,593 6,659 6,726 6,793 6,861 6,930 6,999 7,069 7,140 7,211 7,283 7,356 109,346 Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,428,543 - - - - 18,781 18,969 19,159 19,350 19,544 19,739 19,936 20,136 20,337 20,541 20,746 20,953 21,163 21,375 21,588 21,804 324,121 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 1,869,694 - - - - 10,371 10,475 10,579 10,685 10,792 10,900 11,009 11,119 11,230 11,342 11,456 11,570 11,686 11,803 11,921 12,040 178,979 Northwest ISD 3,680,724 - - - - 60,500 61,105 61,716 62,333 62,957 63,586 64,222 64,864 65,513 66,168 66,830 67,498 68,173 68,855 69,543 70,239 1,044,101 Tarrant County 356,315 - - - - 5,280 5,333 5,386 5,440 5,494 5,549 5,605 5,661 5,717 5,775 5,832 5,891 5,950 6,009 6,069 6,130 91,122 Hospital District 610,055 - - - - 10,027 10,128 10,229 10,331 10,435 10,539 10,644 10,751 10,858 10,967 11,077 11,187 11,299 11,412 11,526 11,642 173,053 TCCD 398,776 - - - - 6,555 6,620 6,686 6,753 6,821 6,889 6,958 7,028 7,098 7,169 7,240 7,313 7,386 7,460 7,534 7,610 113,120 Trophy CLUB MUD 1 357,070 - - - - 5,869 5,928 5,987 6,047 6,107 6,169 6,230 6,293 6,355 6,419 6,483 6,548 6,614 6,680 6,746 6,814 101,289 Total 7,272,635 - - - - 98,602 99,588 100,584 101,590 102,606 103,632 104,668 105,715 106,772 107,840 108,918 110,007 111,107 112,218 113,341 114,474 1,701,663 Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 27 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 21 ►INPUT INFLATION RATE 1.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.51854300 60%0.3111258 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 60%0.1584000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.4695258 PERSONAL PROPERTY TAX Trophy Club 0.51854300 0%0.0000000 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 0%0.0000000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.0000000 Sales Tax Rate 0.0100000 25.00%0.0025000 Block D AREA Year SF/UNITS $ / SF TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE Holiday Inn 2016 80,000 110.00$ 8,800,000$ 30.00$ 2,400,000$ 3.60$ 276,000$ TOTAL 80,000 8,800,000 2,400,000 276,000 ►OUTPUT TOTAL TAX REVENUE TOTAL Trophy Club 20.2%1,266,069$ =949,638$ +258,992$ +57,438$ Northwest ISD 51.1%3,204,878$ =2,518,118$ +686,760$ +-$ Tarrant County 9.8%615,337$ =483,479$ +131,858$ +-$ Hospital District 8.5%531,187$ =417,361$ +113,826$ +-$ TCCD 5.5%347,222$ =272,818$ +74,405$ +-$ Trophy CLUB MUD 1 5.0%310,908$ =244,285$ +66,623$ +-$ 100.0%6,275,600 4,885,699$ 1,332,463$ 57,438$ 100.0%77.9%21.2%0.9% TOTAL PARTICIPATION TOTAL Trophy Club 66.8%584,142$ =569,783$ +-$ +14,360$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Tarrant County 33.2%290,087$ =290,087$ +-$ +-$ Hospital District 0.0%-$ =-$ +-$ +-$ TCCD 0.0%-$ =-$ +-$ +-$ Trophy CLUB MUD 1 0.0%-$ =-$+-$+-$ 100.0%874,230$ 859,870$ -$ 14,360$ 100.0%98.4%0.0%1.6% NET BENEFIT TOTAL Trophy Club 12.6%681,926$ =379,855$ +258,992$ +43,079$ Northwest ISD 59.3%3,204,878$ =2,518,118$ +686,760$ +-$ Tarrant County 6.0%325,249$ =193,391$ +131,858$ +-$ Hospital District 9.8%531,187$ =417,361$ +113,826$ +-$ TCCD 6.4%347,222$ =272,818$ +74,405$ +-$ Trophy CLUB MUD 1 5.8%310,908$ =244,285$+66,623$ +-$ 100.0%5,401,371$ 4,025,829$ 1,332,463$ 43,079$ 100.0%74.5%24.7%0.8% REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY REAL PROPERTY PERSONAL PROPERTY SALES PERSONAL PROPERTY SALES 20 YEAR - BLOCK D : INPUT & OUTPUT PARTICIPATION PARTICIPATION REAL PROPERTY PERSONAL PROPERTY SALES Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 28 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 22 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 % OCCUPIED 0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% REAL PROPERTY Taxable Value - 8,800,000 8,888,000 8,976,880 9,066,649 9,157,315 9,248,888 9,341,377 9,434,791 9,529,139 9,624,430 9,720,675 9,817,881 9,916,060 10,015,221 10,115,373 10,216,527 10,318,692 10,421,879 10,526,098 PV GROSS Trophy Club 1,147,028 - 45,632 46,088 46,549 47,014 47,485 47,959 48,439 48,923 49,413 49,907 50,406 50,910 51,419 51,933 52,453 52,977 53,507 54,042 54,582 949,638 Northwest ISD 3,041,528 - 121,000 122,210 123,432 124,666 125,913 127,172 128,444 129,728 131,026 132,336 133,659 134,996 136,346 137,709 139,086 140,477 141,882 143,301 144,734 2,518,118 Tarrant County 583,973 - 23,232 23,464 23,699 23,936 24,175 24,417 24,661 24,908 25,157 25,408 25,663 25,919 26,178 26,440 26,705 26,972 27,241 27,514 27,789 483,479 Hospital District 504,113 - 20,055 20,255 20,458 20,663 20,869 21,078 21,289 21,502 21,717 21,934 22,153 22,375 22,598 22,824 23,053 23,283 23,516 23,751 23,989 417,361 TCCD 329,525 - 13,109 13,240 13,373 13,507 13,642 13,778 13,916 14,055 14,196 14,338 14,481 14,626 14,772 14,920 15,069 15,220 15,372 15,525 15,681 272,818 Trophy CLUB MUD 1 295,061 - 11,738 11,856 11,974 12,094 12,215 12,337 12,460 12,585 12,711 12,838 12,966 13,096 13,227 13,359 13,493 13,628 13,764 13,902 14,041 244,285 Total 5,901,228 - 234,766 237,114 239,485 241,880 244,299 246,742 249,209 251,701 254,218 256,761 259,328 261,921 264,541 267,186 269,858 272,557 275,282 278,035 280,815 4,885,699 % OCCUPIED 0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% PERSONAL PROPERTY Taxable Value 2,400,000 2,424,000 2,448,240 2,472,722 2,497,450 2,522,424 2,547,648 2,573,125 2,598,856 2,624,845 2,651,093 2,677,604 2,704,380 2,731,424 2,758,738 2,786,325 2,814,189 2,842,331 2,870,754 PV GROSS Trophy Club 241,055 - 12,445 12,569 12,695 12,822 12,950 13,080 13,211 13,343 13,476 13,611 13,747 13,885 14,023 14,164 14,305 14,448 14,593 14,739 14,886 258,992 Northwest ISD 639,196 - 33,000 33,330 33,663 34,000 34,340 34,683 35,030 35,380 35,734 36,092 36,453 36,817 37,185 37,557 37,933 38,312 38,695 39,082 39,473 686,760 Tarrant County 122,726 - 6,336 6,399 6,463 6,528 6,593 6,659 6,726 6,793 6,861 6,930 6,999 7,069 7,140 7,211 7,283 7,356 7,429 7,504 7,579 131,858 Hospital District 105,942 - 5,470 5,524 5,579 5,635 5,692 5,749 5,806 5,864 5,923 5,982 6,042 6,102 6,163 6,225 6,287 6,350 6,413 6,478 6,542 113,826 TCCD 69,252 - 3,575 3,611 3,647 3,684 3,720 3,758 3,795 3,833 3,872 3,910 3,949 3,989 4,029 4,069 4,110 4,151 4,192 4,234 4,277 74,405 Trophy CLUB MUD 1 62,009 - 3,201 3,233 3,266 3,298 3,331 3,365 3,398 3,432 3,467 3,501 3,536 3,572 3,607 3,643 3,680 3,717 3,754 3,791 3,829 66,623 Total 1,240,179 - 64,027 64,667 65,314 65,967 66,627 67,293 67,966 68,646 69,332 70,026 70,726 71,433 72,147 72,869 73,598 74,334 75,077 75,828 76,586 1,332,463 % OCCUPIED 0%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% SALES TAX Taxable Value 276,000 278,760 281,548 284,363 287,207 290,079 292,980 295,909 298,868 301,857 304,876 307,924 311,004 314,114 317,255 320,427 323,632 326,868 330,137 PV GROSS Total 1,559,771 - 2,760 2,788 2,815 2,844 2,872 2,901 2,930 2,959 2,989 3,019 3,049 3,079 3,110 3,141 3,173 3,204 3,236 3,269 3,301 57,438 SUMMARY PV GROSS Trophy Club 2,947,853 - 60,837 61,445 62,060 62,680 63,307 63,940 64,580 65,225 65,878 66,536 67,202 67,874 68,552 69,238 69,930 70,630 71,336 72,049 72,770 1,266,069 Northwest ISD 3,680,724 - 154,000 155,540 157,095 158,666 160,253 161,856 163,474 165,109 166,760 168,428 170,112 171,813 173,531 175,266 177,019 178,789 180,577 182,383 184,207 3,204,878 Tarrant County 706,699 - 29,568 29,864 30,162 30,464 30,769 31,076 31,387 31,701 32,018 32,338 32,661 32,988 33,318 33,651 33,988 34,328 34,671 35,018 35,368 615,337 Hospital District 610,055 - 25,524 25,780 26,038 26,298 26,561 26,826 27,095 27,366 27,639 27,916 28,195 28,477 28,762 29,049 29,340 29,633 29,929 30,229 30,531 531,187 TCCD 398,776 - 16,685 16,851 17,020 17,190 17,362 17,536 17,711 17,888 18,067 18,248 18,430 18,615 18,801 18,989 19,179 19,370 19,564 19,760 19,957 347,222 Trophy CLUB MUD 1 357,070 - 14,940 15,089 15,240 15,392 15,546 15,702 15,859 16,017 16,178 16,339 16,503 16,668 16,834 17,003 17,173 17,345 17,518 17,693 17,870 310,908 Total 8,701,178 - 301,554 304,569 307,615 310,691 313,798 316,936 320,105 323,306 326,539 329,805 333,103 336,434 339,798 343,196 346,628 350,094 353,595 357,131 360,703 6,275,600 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 29 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 23 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S PARTICIPATION REAL PROPERTY Taxable Value - 8,800,000 8,888,000 8,976,880 9,066,649 9,157,315 9,248,888 9,341,377 9,434,791 9,529,139 9,624,430 9,720,675 9,817,881 9,916,060 10,015,221 10,115,373 10,216,527 10,318,692 10,421,879 10,526,098 PV GROSS Trophy Club 688,217 - 27,379 27,653 27,929 28,209 28,491 28,776 29,063 29,354 29,648 29,944 30,244 30,546 30,851 31,160 31,472 31,786 32,104 32,425 32,749 569,783 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 - 13,939 14,079 14,219 14,362 14,505 14,650 14,797 14,945 15,094 15,245 15,398 15,552 15,707 15,864 16,023 16,183 16,345 16,508 16,673 290,087 Hospital District - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,038,601 - 41,318 41,731 42,149 42,570 42,996 43,426 43,860 44,299 44,742 45,189 45,641 46,097 46,558 47,024 47,494 47,969 48,449 48,933 49,423 859,870 PERSONAL PROPERTY Taxable Value - 2,400,000 2,424,000 2,448,240 2,472,722 2,497,450 2,522,424 2,547,648 2,573,125 2,598,856 2,624,845 2,651,093 2,677,604 2,704,380 2,731,424 2,758,738 2,786,325 2,814,189 2,842,331 2,870,754 PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County - - - - - - - - - - - - - - - - - - - - - - Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value - 276,000 278,760 281,548 284,363 287,207 290,079 292,980 295,909 298,868 301,857 304,876 307,924 311,004 314,114 317,255 320,427 323,632 326,868 330,137 PV GROSS Total 389,943 - 690 697 704 711 718 725 732 740 747 755 762 770 778 785 793 801 809 817 825 14,360 SUMMARY PV GROSS Trophy Club 1,078,159 - 28,069 28,350 28,633 28,920 29,209 29,501 29,796 30,094 30,395 30,699 31,006 31,316 31,629 31,945 32,265 32,587 32,913 33,242 33,575 584,142 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 - 13,939 14,079 14,219 14,362 14,505 14,650 14,797 14,945 15,094 15,245 15,398 15,552 15,707 15,864 16,023 16,183 16,345 16,508 16,673 290,087 Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,428,543 - 42,008 42,428 42,853 43,281 43,714 44,151 44,593 45,039 45,489 45,944 46,403 46,867 47,336 47,809 48,287 48,770 49,258 49,751 50,248 874,230 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 1,869,694 - 32,768 33,095 33,426 33,761 34,098 34,439 34,784 35,131 35,483 35,838 36,196 36,558 36,924 37,293 37,666 38,042 38,423 38,807 39,195 681,926 Northwest ISD 3,680,724 - 154,000 155,540 157,095 158,666 160,253 161,856 163,474 165,109 166,760 168,428 170,112 171,813 173,531 175,266 177,019 178,789 180,577 182,383 184,207 3,204,878 Tarrant County 356,315 - 15,629 15,785 15,943 16,102 16,263 16,426 16,590 16,756 16,924 17,093 17,264 17,437 17,611 17,787 17,965 18,145 18,326 18,509 18,694 325,249 Hospital District 610,055 - 25,524 25,780 26,038 26,298 26,561 26,826 27,095 27,366 27,639 27,916 28,195 28,477 28,762 29,049 29,340 29,633 29,929 30,229 30,531 531,187 TCCD 398,776 - 16,685 16,851 17,020 17,190 17,362 17,536 17,711 17,888 18,067 18,248 18,430 18,615 18,801 18,989 19,179 19,370 19,564 19,760 19,957 347,222 Trophy CLUB MUD 1 357,070 - 14,940 15,089 15,240 15,392 15,546 15,702 15,859 16,017 16,178 16,339 16,503 16,668 16,834 17,003 17,173 17,345 17,518 17,693 17,870 310,908 Total 7,272,635 - 259,545 262,141 264,762 267,410 270,084 272,785 275,513 278,268 281,050 283,861 286,700 289,567 292,462 295,387 298,341 301,324 304,337 307,381 310,454 5,401,371 Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 30 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 24 ►INPUT INFLATION RATE 1.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.51854300 60%0.3111258 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 60%0.1584000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.4695258 PERSONAL PROPERTY TAX Trophy Club 0.51854300 0%0.0000000 Northwest ISD 1.37500000 0%0.0000000 Tarrant County 0.26400000 0%0.0000000 Hospital District 0.22789700 0%0.0000000 TCCD 0.14897000 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.66780000 0.0000000 Sales Tax Rate 0.0100000 25.00%0.0025000 Block E AREA Year SF/UNITS $ / SF TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE Residential 2015 35 250,000.00$ 8,750,000$ -$ -$ -$ -$ TOTAL 35 8,750,000 - - ►OUTPUT TOTAL TAX REVENUE TOTAL Trophy Club 19.4%881,154$ =881,154$ +-$ +-$ Northwest ISD 51.5%2,336,522$ =2,336,522$ +-$ +-$ Tarrant County 9.9%448,612$ =448,612$ +-$ +-$ Hospital District 8.5%387,263$ =387,263$ +-$ +-$ TCCD 5.6%253,143$ =253,143$ +-$ +-$ Trophy CLUB MUD 1 5.0%226,668$ =226,668$ +-$ +-$ 100.0%4,533,363 4,533,363$ -$ -$ 100.0%100.0%0.0%0.0% TOTAL PARTICIPATION TOTAL Trophy Club 66.3%528,693$ =528,693$ +-$ +-$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Tarrant County 33.7%269,167$ =269,167$ +-$ +-$ Hospital District 0.0%-$ =-$ +-$ +-$ TCCD 0.0%-$ =-$ +-$ +-$ Trophy CLUB MUD 1 0.0%-$ =-$+-$+-$ 100.0%797,860$ 797,860$ -$ -$ 100.0%100.0%0.0%0.0% NET BENEFIT TOTAL Trophy Club 9.4%352,462$ =352,462$ +-$ +-$ Northwest ISD 62.5%2,336,522$ =2,336,522$ +-$ +-$ Tarrant County 4.8%179,445$ =179,445$ +-$ +-$ Hospital District 10.4%387,263$ =387,263$ +-$ +-$ TCCD 6.8%253,143$ =253,143$ +-$ +-$ Trophy CLUB MUD 1 6.1%226,668$ =226,668$+-$+-$ 100.0%3,735,503$ 3,735,503$ -$ -$ 100.0%100.0%0.0%0.0% 20 YEAR - BLOCK E : INPUT & OUTPUT PARTICIPATION PARTICIPATION REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY SALES Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 31 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 25 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 % OCCUPIED 0%33%66%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% REAL PROPERTY Taxable Value - 2,887,500 5,775,000 8,750,000 8,837,500 8,925,875 9,015,134 9,105,285 9,196,338 9,288,301 9,381,184 9,474,996 9,569,746 9,665,444 9,762,098 9,859,719 9,958,316 10,057,899 10,158,478 10,260,063 PV GROSS Trophy Club 1,147,028 - 14,973 29,946 45,373 45,826 46,285 46,747 47,215 47,687 48,164 48,645 49,132 49,623 50,119 50,621 51,127 51,638 52,155 52,676 53,203 881,154 Northwest ISD 3,041,528 - 39,703 79,406 120,313 121,516 122,731 123,958 125,198 126,450 127,714 128,991 130,281 131,584 132,900 134,229 135,571 136,927 138,296 139,679 141,076 2,336,522 Tarrant County 583,973 - 7,623 15,246 23,100 23,331 23,564 23,800 24,038 24,278 24,521 24,766 25,014 25,264 25,517 25,772 26,030 26,290 26,553 26,818 27,087 448,612 Hospital District 504,113 - 6,581 13,161 19,941 20,140 20,342 20,545 20,751 20,958 21,168 21,379 21,593 21,809 22,027 22,248 22,470 22,695 22,922 23,151 23,382 387,263 TCCD 329,525 - 4,302 8,603 13,035 13,165 13,297 13,430 13,564 13,700 13,837 13,975 14,115 14,256 14,399 14,543 14,688 14,835 14,983 15,133 15,284 253,143 Trophy CLUB MUD 1 295,061 - 3,852 7,703 11,672 11,788 11,906 12,025 12,146 12,267 12,390 12,514 12,639 12,765 12,893 13,022 13,152 13,283 13,416 13,550 13,686 226,668 Total 5,901,228 - 77,033 154,065 233,433 235,767 238,124 240,506 242,911 245,340 247,793 250,271 252,774 255,302 257,855 260,433 263,038 265,668 268,325 271,008 273,718 4,533,363 % OCCUPIED 0%33%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100% PERSONAL PROPERTY Taxable Value - - - - - - - - - - - - - - - - - - - PV GROSS Trophy Club 241,055 - - - - - - - - - - - - - - - - - - - - - Northwest ISD 639,196 - - - - - - - - - - - - - - - - - - - - - Tarrant County 122,726 - - - - - - - - - - - - - - - - - - - - - Hospital District 105,942 - - ------- -------- - - - - TCCD 69,252 - - ------- -------- - - - - Trophy CLUB MUD 1 62,009 - - - - - - - - - - - - - - - - - - - - - Total 1,240,179 - - - - - - - - - - - - - - - - - - - - - % OCCUPIED 0%33%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 1,559,771 - - - - - - - - - - - - - - - - - - - - - SUMMARY PV GROSS Trophy Club 2,947,853 - 14,973 29,946 45,373 45,826 46,285 46,747 47,215 47,687 48,164 48,645 49,132 49,623 50,119 50,621 51,127 51,638 52,155 52,676 53,203 881,154 Northwest ISD 3,680,724 - 39,703 79,406 120,313 121,516 122,731 123,958 125,198 126,450 127,714 128,991 130,281 131,584 132,900 134,229 135,571 136,927 138,296 139,679 141,076 2,336,522 Tarrant County 706,699 - 7,623 15,246 23,100 23,331 23,564 23,800 24,038 24,278 24,521 24,766 25,014 25,264 25,517 25,772 26,030 26,290 26,553 26,818 27,087 448,612 Hospital District 610,055 - 6,581 13,161 19,941 20,140 20,342 20,545 20,751 20,958 21,168 21,379 21,593 21,809 22,027 22,248 22,470 22,695 22,922 23,151 23,382 387,263 TCCD 398,776 - 4,302 8,603 13,035 13,165 13,297 13,430 13,564 13,700 13,837 13,975 14,115 14,256 14,399 14,543 14,688 14,835 14,983 15,133 15,284 253,143 Trophy CLUB MUD 1 357,070 - 3,852 7,703 11,672 11,788 11,906 12,025 12,146 12,267 12,390 12,514 12,639 12,765 12,893 13,022 13,152 13,283 13,416 13,550 13,686 226,668 Total 8,701,178 - 77,033 154,065 233,433 235,767 238,124 240,506 242,911 245,340 247,793 250,271 252,774 255,302 257,855 260,433 263,038 265,668 268,325 271,008 273,718 4,533,363 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 32 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 26 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S PARTICIPATION REAL PROPERTY Taxable Value - 2,887,500 5,775,000 8,750,000 8,837,500 8,925,875 9,015,134 9,105,285 9,196,338 9,288,301 9,381,184 9,474,996 9,569,746 9,665,444 9,762,098 9,859,719 9,958,316 10,057,899 10,158,478 10,260,063 PV GROSS Trophy Club 688,217 - 8,984 17,968 27,224 27,496 27,771 28,048 28,329 28,612 28,898 29,187 29,479 29,774 30,072 30,372 30,676 30,983 31,293 31,606 31,922 528,693 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 - 4,574 9,148 13,860 13,999 14,139 14,280 14,423 14,567 14,713 14,860 15,008 15,158 15,310 15,463 15,618 15,774 15,932 16,091 16,252 269,167 Hospital District - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,038,601 - 13,558 27,115 41,084 41,494 41,909 42,328 42,752 43,179 43,611 44,047 44,488 44,932 45,382 45,836 46,294 46,757 47,224 47,697 48,174 797,860 PERSONAL PROPERTY Taxable Value - - - - - - - - - - - - - - - - - - - - PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County - - - - - - - - - - - - - - - - - - - - - - Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value - - - - - - - - - - - - - - - - - - - - PV GROSS Total 389,943 - - - - - - - - - - - - - - - - - - - - - SUMMARY PV GROSS Trophy Club 1,078,159 - 8,984 17,968 27,224 27,496 27,771 28,048 28,329 28,612 28,898 29,187 29,479 29,774 30,072 30,372 30,676 30,983 31,293 31,606 31,922 528,693 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - Tarrant County 350,384 - 4,574 9,148 13,860 13,999 14,139 14,280 14,423 14,567 14,713 14,860 15,008 15,158 15,310 15,463 15,618 15,774 15,932 16,091 16,252 269,167 Hospital District - - - - - - - - - - - - - - - - - - - - - - TCCD - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - Total 1,428,543 - 13,558 27,115 41,084 41,494 41,909 42,328 42,752 43,179 43,611 44,047 44,488 44,932 45,382 45,836 46,294 46,757 47,224 47,697 48,174 797,860 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 1,869,694 - 5,989 11,978 18,149 18,330 18,514 18,699 18,886 19,075 19,266 19,458 19,653 19,849 20,048 20,248 20,451 20,655 20,862 21,070 21,281 352,462 Northwest ISD 3,680,724 - 39,703 79,406 120,313 121,516 122,731 123,958 125,198 126,450 127,714 128,991 130,281 131,584 132,900 134,229 135,571 136,927 138,296 139,679 141,076 2,336,522 Tarrant County 356,315 - 3,049 6,098 9,240 9,332 9,426 9,520 9,615 9,711 9,808 9,907 10,006 10,106 10,207 10,309 10,412 10,516 10,621 10,727 10,835 179,445 Hospital District 610,055 - 6,581 13,161 19,941 20,140 20,342 20,545 20,751 20,958 21,168 21,379 21,593 21,809 22,027 22,248 22,470 22,695 22,922 23,151 23,382 387,263 TCCD 398,776 - 4,302 8,603 13,035 13,165 13,297 13,430 13,564 13,700 13,837 13,975 14,115 14,256 14,399 14,543 14,688 14,835 14,983 15,133 15,284 253,143 Trophy CLUB MUD 1 357,070 - 3,852 7,703 11,672 11,788 11,906 12,025 12,146 12,267 12,390 12,514 12,639 12,765 12,893 13,022 13,152 13,283 13,416 13,550 13,686 226,668 Total 7,272,635 - 63,475 126,950 192,349 194,272 196,215 198,177 200,159 202,161 204,182 206,224 208,286 210,369 212,473 214,598 216,744 218,911 221,100 223,311 225,544 3,735,503 Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 33 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 27 TAXABLE BASE YEAR GROWTH 1% DISCOUNT RATE 6% Trophy Club 0.5185430 100% 0.5185430 Trophy Club 0.5185430 100% 0.5185430 Northwest ISD 1.3750000 100% 1.3750000 Northwest ISD 1.3750000 100% 1.3750000 Tarrant County 0.2640000 100% 0.2640000 Tarrant County 0.2640000 100% 0.2640000 Hospital District 0.2278970 100% 0.2278970 Hospital District 0.2278970 100% 0.2278970 TCCD 0.1489700 100% 0.1489700 TCCD 0.1489700 100% 0.1489700 Trophy CLUB MUD 1 0.1333900 100% 0.1333900 Trophy CLUB MUD 1 0.1333900 100% 0.1333900 2.6678000 2.6678000 2.6678000 2.6678000 BASE YEAR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 FY ENDING SEPTEMBER 30TH 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 TOTALS BASE YEAR Trophy Club 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 Northwest ISD 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 Tarrant County 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 Hospital District 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 TCCD 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 Trophy CLUB MUD 1 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 8,872,521 TAXABLE VALUE Trophy Club 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 Northwest ISD 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 Tarrant County 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 Hospital District 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 TCCD 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 Trophy CLUB MUD 1 8,961,246 9,050,859 9,141,367 9,232,781 9,325,109 9,418,360 9,512,543 9,607,669 9,703,746 9,800,783 9,898,791 9,997,779 10,097,757 10,198,734 10,300,721 10,403,729 10,507,766 10,612,844 10,718,972 10,826,162 TAXABLE VALUE INCREMENT Trophy Club 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 Northwest ISD 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 Tarrant County 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 Hospital District 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 TCCD 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 Trophy CLUB MUD 1 88,725 178,338 268,846 360,260 452,588 545,839 640,022 735,148 831,225 928,262 1,026,270 1,125,258 1,225,236 1,326,213 1,428,200 1,531,208 1,635,245 1,740,323 1,846,451 1,953,641 REVENUE A TAXABLE VALUE GROWTH Trophy Club 460 925 1,394 1,868 2,347 2,830 3,319 3,812 4,310 4,813 5,322 5,835 6,353 6,877 7,406 7,940 8,479 9,024 9,575 10,130 103,020 Trophy Club Northwest ISD 1,220 2,452 3,697 4,954 6,223 7,505 8,800 10,108 11,429 12,764 14,111 15,472 16,847 18,235 19,638 21,054 22,485 23,929 25,389 26,863 273,175 Northwest ISD Tarrant County 234 471 710 951 1,195 1,441 1,690 1,941 2,194 2,451 2,709 2,971 3,235 3,501 3,770 4,042 4,317 4,594 4,875 5,158 52,450 Tarrant County Hospital District 202 406 613 821 1,031 1,244 1,459 1,675 1,894 2,115 2,339 2,564 2,792 3,022 3,255 3,490 3,727 3,966 4,208 4,452 45,277 Hospital District TCCD 132 266 401 537 674 813 953 1,095 1,238 1,383 1,529 1,676 1,825 1,976 2,128 2,281 2,436 2,593 2,751 2,910 29,596 TCCD Trophy CLUB MUD 1 118 238 359 481 604 728 854 981 1,109 1,238 1,369 1,501 1,634 1,769 1,905 2,042 2,181 2,321 2,463 2,606 26,501 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL A 247,297 2,367 4,758 7,172 9,611 12,074 14,562 17,075 19,612 22,175 24,764 27,379 30,020 32,687 35,381 38,102 40,850 43,625 46,428 49,260 52,119 530,020 REVENUE #1 - BLOCK A REAL PROPERTY TAX 5,830,000 5,888,300 17,418,300 20,818,300 21,026,483 21,236,748 21,449,115 21,663,606 21,880,243 22,099,045 22,320,035 22,543,236 22,768,668 22,996,355 23,226,318 23,458,582 23,693,167 23,930,099 24,169,400 24,411,094 BUSINESS PERSONAL PROPERTY 1,590,000 1,605,900 3,993,900 4,273,900 4,316,639 4,359,805 4,403,403 4,447,437 4,491,912 4,536,831 4,582,199 4,628,021 4,674,301 4,721,045 4,768,255 4,815,937 4,864,097 4,912,738 4,961,865 5,011,484 Trophy Club 38,476 38,861 111,031 130,114 131,415 132,729 134,056 135,397 136,751 138,118 139,500 140,895 142,304 143,727 145,164 146,616 148,082 149,563 151,058 152,569 2,586,424 Trophy Club Northwest ISD 102,025 103,045 294,418 345,018 348,468 351,953 355,472 359,027 362,617 366,243 369,906 373,605 377,341 381,114 384,925 388,775 392,662 396,589 400,555 404,560 6,858,318 Northwest ISD Tarrant County 19,589 19,785 56,528 66,243 66,906 67,575 68,251 68,933 69,622 70,319 71,022 71,732 72,449 73,174 73,906 74,645 75,391 76,145 76,907 77,676 1,316,797 Tarrant County Hospital District 16,910 17,079 48,798 57,184 57,756 58,334 58,917 59,506 60,101 60,702 61,309 61,922 62,542 63,167 63,799 64,437 65,081 65,732 66,389 67,053 1,136,720 Hospital District TCCD 11,054 11,164 31,898 37,380 37,754 38,131 38,512 38,898 39,287 39,679 40,076 40,477 40,882 41,291 41,704 42,121 42,542 42,967 43,397 43,831 743,043 TCCD Trophy CLUB MUD 1 9,898 9,997 28,562 33,470 33,805 34,143 34,485 34,830 35,178 35,530 35,885 36,244 36,606 36,972 37,342 37,715 38,093 38,473 38,858 39,247 665,332 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #1 7,141,407 197,951 199,930 571,235 669,410 676,104 682,865 689,693 696,590 703,556 710,592 717,698 724,875 732,124 739,445 746,839 754,308 761,851 769,469 777,164 784,936 13,306,633 REVENUE #2 - BLOCK B REAL PROPERTY TAX 0 2,500,000 2,525,000 2,550,250 7,500,000 7,575,000 7,650,750 7,727,258 7,804,530 7,882,575 7,961,401 8,041,015 8,121,425 8,202,640 8,284,666 8,367,513 8,451,188 8,535,700 8,621,057 8,707,267 BUSINESS PERSONAL PROPERTY 0 300,000 303,000 306,030 900,000 909,000 918,090 927,271 936,544 945,909 955,368 964,922 974,571 984,317 994,160 1,004,102 1,014,143 1,024,284 1,034,527 1,044,872 Trophy Club 0 14,519 14,664 14,811 43,558 43,993 44,433 44,877 45,326 45,779 46,237 46,700 47,167 47,638 48,115 48,596 49,082 49,573 50,068 50,569 795,706 Trophy Club Northwest ISD 0 38,500 38,885 39,274 115,500 116,655 117,822 119,000 120,190 121,392 122,606 123,832 125,070 126,321 127,584 128,860 130,148 131,450 132,764 134,092 2,109,942 Northwest ISD Tarrant County 0 7,392 7,466 7,541 22,176 22,398 22,622 22,848 23,076 23,307 23,540 23,776 24,013 24,254 24,496 24,741 24,988 25,238 25,491 25,746 405,109 Tarrant County Hospital District 0 6,381 6,445 6,509 19,143 19,335 19,528 19,723 19,921 20,120 20,321 20,524 20,730 20,937 21,146 21,358 21,571 21,787 22,005 22,225 349,709 Hospital District TCCD 0 4,171 4,213 4,255 12,513 12,639 12,765 12,893 13,022 13,152 13,283 13,416 13,550 13,686 13,823 13,961 14,101 14,242 14,384 14,528 228,595 TCCD Trophy CLUB MUD 1 0 3,735 3,772 3,810 11,205 11,317 11,430 11,544 11,660 11,776 11,894 12,013 12,133 12,254 12,377 12,501 12,626 12,752 12,880 13,008 204,687 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #2 2,101,618 0 74,698 75,445 76,200 224,095 226,336 228,600 230,886 233,194 235,526 237,882 240,260 242,663 245,090 247,541 250,016 252,516 255,041 257,592 260,168 4,093,748 20 YEAR - TOTAL REVENUE GENERATED OVERVIEW REAL PROPERTY TAX BUSINESS PERSONAL PROPERTY TAX Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 34 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 28 REVENUE #3 - BLOCK C REAL PROPERTY TAX 0 0 0 0 4,000,000 4,040,000 4,080,400 4,121,204 4,162,416 4,204,040 4,246,081 4,288,541 4,331,427 4,374,741 4,418,489 4,462,673 4,507,300 4,552,373 4,597,897 4,643,876 BUSINESS PERSONAL PROPERTY 0 0 0 0 400,000 404,000 408,040 412,120 416,242 420,404 424,608 428,854 433,143 437,474 441,849 446,267 450,730 455,237 459,790 464,388 Trophy Club 0 0 0 0 22,816 23,044 23,274 23,507 23,742 23,980 24,220 24,462 24,706 24,953 25,203 25,455 25,710 25,967 26,226 26,489 393,754 Trophy Club Northwest ISD 0 0 0 0 60,500 61,105 61,716 62,333 62,957 63,586 64,222 64,864 65,513 66,168 66,830 67,498 68,173 68,855 69,543 70,239 1,044,101 Northwest ISD Tarrant County 0 0 0 0 11,616 11,732 11,849 11,968 12,088 12,209 12,331 12,454 12,578 12,704 12,831 12,960 13,089 13,220 13,352 13,486 200,467 Tarrant County Hospital District 0 0 0 0 10,027 10,128 10,229 10,331 10,435 10,539 10,644 10,751 10,858 10,967 11,077 11,187 11,299 11,412 11,526 11,642 173,053 Hospital District TCCD 0 0 0 0 6,555 6,620 6,686 6,753 6,821 6,889 6,958 7,028 7,098 7,169 7,240 7,313 7,386 7,460 7,534 7,610 113,120 TCCD Trophy CLUB MUD 1 0 0 0 0 5,869 5,928 5,987 6,047 6,107 6,169 6,230 6,293 6,355 6,419 6,483 6,548 6,614 6,680 6,746 6,814 101,289 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #3 1,001,227 0 0 0 0 117,383 118,557 119,743 120,940 122,149 123,371 124,605 125,851 127,109 128,380 129,664 130,961 132,270 133,593 134,929 136,278 2,025,783 REVENUE #4 - BLOCK D REAL PROPERTY TAX 0 8,800,000 8,888,000 8,976,880 9,066,649 9,157,315 9,248,888 9,341,377 9,434,791 9,529,139 9,624,430 9,720,675 9,817,881 9,916,060 10,015,221 10,115,373 10,216,527 10,318,692 10,421,879 10,526,098 BUSINESS PERSONAL PROPERTY 0 2,400,000 2,424,000 2,448,240 2,472,722 2,497,450 2,522,424 2,547,648 2,573,125 2,598,856 2,624,845 2,651,093 2,677,604 2,704,380 2,731,424 2,758,738 2,786,325 2,814,189 2,842,331 2,870,754 Trophy Club 0 58,077 58,658 59,244 59,837 60,435 61,039 61,650 62,266 62,889 63,518 64,153 64,794 65,442 66,097 66,758 67,425 68,100 68,781 69,468 1,208,631 Trophy Club Northwest ISD 0 154,000 155,540 157,095 158,666 160,253 161,856 163,474 165,109 166,760 168,428 170,112 171,813 173,531 175,266 177,019 178,789 180,577 182,383 184,207 3,204,878 Northwest ISD Tarrant County 0 29,568 29,864 30,162 30,464 30,769 31,076 31,387 31,701 32,018 32,338 32,661 32,988 33,318 33,651 33,988 34,328 34,671 35,018 35,368 615,337 Tarrant County Hospital District 0 25,524 25,780 26,038 26,298 26,561 26,826 27,095 27,366 27,639 27,916 28,195 28,477 28,762 29,049 29,340 29,633 29,929 30,229 30,531 531,187 Hospital District TCCD 0 87 87 88 89 90 91 92 93 94 95 96 97 97 98 99 100 101 102 103 1,800 TCCD Trophy CLUB MUD 1 0 14,940 15,089 15,240 15,392 15,546 15,702 15,859 16,017 16,178 16,339 16,503 16,668 16,834 17,003 17,173 17,345 17,518 17,693 17,870 310,908 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #4 3,198,416 0 282,195 285,017 287,868 290,746 293,654 296,590 299,556 302,552 305,577 308,633 311,719 314,837 317,985 321,165 324,376 327,620 330,896 334,205 337,547 5,872,740 REVENUE #5 - BLOCK E REAL PROPERTY TAX 0 2,887,500 5,775,000 8,750,000 8,837,500 8,925,875 9,015,134 9,105,285 9,196,338 9,288,301 9,381,184 9,474,996 9,569,746 9,665,444 9,762,098 9,859,719 9,958,316 10,057,899 10,158,478 10,260,063 BUSINESS PERSONAL PROPERTY 00000000000000000000 Trophy Club 0 14,973 29,946 45,373 45,826 46,285 46,747 47,215 47,687 48,164 48,645 49,132 49,623 50,119 50,621 51,127 51,638 52,155 52,676 53,203 881,154 Trophy Club Northwest ISD 0 39,703 79,406 120,313 121,516 122,731 123,958 125,198 126,450 127,714 128,991 130,281 131,584 132,900 134,229 135,571 136,927 138,296 139,679 141,076 2,336,522 Northwest ISD Tarrant County 0 7,623 15,246 23,100 23,331 23,564 23,800 24,038 24,278 24,521 24,766 25,014 25,264 25,517 25,772 26,030 26,290 26,553 26,818 27,087 448,612 Tarrant County Hospital District 0 6,581 13,161 19,941 20,140 20,342 20,545 20,751 20,958 21,168 21,379 21,593 21,809 22,027 22,248 22,470 22,695 22,922 23,151 23,382 387,263 Hospital District TCCD 0 4,302 8,603 13,035 13,165 13,297 13,430 13,564 13,700 13,837 13,975 14,115 14,256 14,399 14,543 14,688 14,835 14,983 15,133 15,284 253,143 TCCD Trophy CLUB MUD 1 0 3,852 7,703 11,672 11,788 11,906 12,025 12,146 12,267 12,390 12,514 12,639 12,765 12,893 13,022 13,152 13,283 13,416 13,550 13,686 226,668 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #5 2,393,803 0 77,033 154,065 233,433 235,767 238,124 240,506 242,911 245,340 247,793 250,271 252,774 255,302 257,855 260,433 263,038 265,668 268,325 271,008 273,718 4,533,363 REVENUE #6 - SALES SALES TAX 1,900 84,420 117,448 150,475 151,980 153,500 155,035 156,585 158,151 159,733 161,330 162,943 164,573 166,219 167,881 169,560 171,255 172,968 174,697 176,444 2,977,097 Trophy Club SUBTOTAL #6 1,591,053 1,900 84,420 117,448 150,475 151,980 153,500 155,035 156,585 158,151 159,733 161,330 162,943 164,573 166,219 167,881 169,560 171,255 172,968 174,697 176,444 2,977,097 REVENUE #7 - HOT HOTEL OCCUPANCY TAX 000000000000000000000Trophy Club SUBTOTAL #7 0 000000000000000000000 REVENUE A, 1, 2, 3, 4, 5, 6, 7 202,218 723,035 1,210,383 1,426,996 1,708,150 1,727,598 1,747,241 1,767,081 1,787,118 1,807,357 1,827,797 1,848,442 1,869,294 1,890,354 1,911,624 1,933,107 1,954,805 1,976,721 1,998,855 2,021,210 33,339,385 Running Total 202,218 925,252 2,135,635 3,562,631 5,270,781 6,998,379 8,745,620 10,512,701 12,299,819 14,107,176 15,934,973 17,783,415 19,652,709 21,543,063 23,454,687 25,387,794 27,342,599 29,319,320 31,318,175 33,339,385 NET PRESENT VALUE @ 6%17,674,822 GROSS 33,339,385 261,716 753,511 1,125,983 1,202,656 1,266,557 DISTRICT BREAKDOWN 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Trophy Club 4,753,837$ 40,836 211,774 333,141 401,885 457,778 462,816 467,905 473,044 478,234 483,477 488,771 494,119 499,520 504,976 510,486 516,051 521,671 527,348 533,081 538,872 8,945,786 Northwest ISD 8,386,630$ 103,245 337,701 571,946 666,653 810,873 820,202 829,624 839,140 848,751 858,459 868,263 878,166 888,168 898,269 908,472 918,777 929,184 939,696 950,313 961,036 15,826,936 Tarrant County 1,610,233$ 19,823 64,838 109,814 127,997 155,688 157,479 159,288 161,115 162,960 164,824 166,707 168,608 170,528 172,468 174,427 176,405 178,403 180,422 182,460 184,519 3,038,772 Hospital District 1,390,028$ 17,112 55,972 94,796 110,493 134,397 135,943 137,505 139,082 140,675 142,284 143,909 145,550 147,208 148,882 150,573 152,281 154,006 155,748 157,508 159,285 2,623,208 TCCD 720,499$ 11,186 19,989 45,202 55,295 70,750 71,590 72,438 73,295 74,160 75,034 75,916 76,807 77,708 78,617 79,535 80,463 81,400 82,346 83,301 84,267 1,369,297 Trophy CLUB MUD 1 813,595$ 10,016 32,761 55,485 64,673 78,664 79,569 80,483 81,406 82,338 83,280 84,231 85,192 86,162 87,142 88,132 89,131 90,141 91,161 92,191 93,231 1,535,385 TOTALS 202,218 723,035 1,210,383 1,426,996 1,708,150 1,727,598 1,747,241 1,767,081 1,787,118 1,807,357 1,827,797 1,848,442 1,869,294 1,890,354 1,911,624 1,933,107 1,954,805 1,976,721 1,998,855 2,021,210 33,339,385 Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 35 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 29 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 has a 21-year term and is scheduled to end on December 31, 2034. 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. Financial Feasibility Analysis Economic Development DAVID PETTIT TIF Board Page 36 of 43 Monday, January 27, 2014 Project and Financing Plan, TIRZ #1 30 Exhibit A ACCOUNT_NU PIDN OWNER_NAME OWNER_ADDR OWNER_CITY OWNER_ZIP SITUS_ADDR TAD_MAP EXEMPTION_STATE_USE_LEGAL_1 LEGAL_2 LEGAL_3 LAND_VALUE IMP_VALUE TOTAL_VALU LAND_ACRES LAND_SQFT 41245660 43814M B 2R 90 Highway 114 Prospect Ltd 4011 N Midland Dr Midland Tx 79707 000000 Trophy Wood Dr 2096 480 000 C2 Trophy Wood Business Center Blk B Lot 2R City Boundary Split $759,369 $0 $759,369 2.68200 116,826 40778509 A 742 1E 91 Trophy Lodging LLP 9 Village Cir Ste 500 Westlake Tx 76262 002951 State Hwy 114 2096 480 000 C2 Henry, Joseph Survey A 742 Tr 1E School Boundary Split $1,061,514 $0 $1,061,514 8.12300 353,838 40760057 43814M B 4 91 Tc Hospital Lp 5400 Dallas Pkwy Frisco Tx 75034 000150 Trophy Wood Dr 2096 480 000 C2 Trophy Wood Business Center Blk B Lot 4 School Boundary Split $1,076,345 $0 $1,076,345 4.94200 215,269 40760006 43814M A 1 91 Highway 114 Prospect Ltd 4011 N Midland Dr Midland Tx 79707 000101 Trophy Wood Dr 2096 480 000 C2 Trophy Wood Business Center Blk A Lot 1 School Boundary Split $4,875 $0 $4,875 0.01700 750 40760014 43814M A 2 91 Highway 114 Prospect Ltd 4011 N Midland Dr Midland Tx 79707 000111 Trophy Wood Dr 2096 480 000 C2 Trophy Wood Business Center Blk A Lot 2 School Boundary Split $151,047 $0 $151,047 0.53300 23,238 40760065 43814M B 5 91 Trophy Club Mun Util Dist #1 100 Municipal Dr Trophy Club Tx 76262 000161 Trophy Wood Dr 2102 480 006 C2 Trophy Wood Business Center Blk B Lot 5 School Boundary Split $0 $0 $0 0.08300 3,625 41449800 43814M A 3R2 Highway 114 Prospect Ltd 4011 N Midland Dr Midland Tx 79707 000000 Trophy Wood Dr 2096 480 000 C2 Trophy Wood Business Center Blk A Lot 3R2 $268,132 $0 $268,132 0.94700 41,251 41449797 43814M A 3R1 91 Hydra Hotels Llc 433 Las Colinas Blvd E Ste 860 Irving Tx 75039 000525 Plaza Dr 2096 480 000 C2 Trophy Wood Business Center Blk A Lot 3R1 School Boundary Split $462,149 $0 $462,149 1.92900 84,027 41450426 43814M A 3R1 Hydra Hotels Llc 434 Las Colinas Blvd E Ste 860 Irving Tx 75040 000525 Plaza Dr 2097 480 001 C3 Trophy Wood Business Center Blk A Lot 3R2 School Boundary Split $20,603 $3,379,501 $3,400,104 0.08600 3,746 41451600 43814M B 3R2 Shri Siddhi Vinayak Llc 207 Hillside Ln Lindsay Tx 76250 000725 Plaza Dr 2096 480 000 C2 Trophy Wood Business Center Blk B Lot 3R2 $795,340 $0 $795,340 2.80900 122,360 41451597 43814M B 3R1 91 Highway 114 Prospect Ltd 4011 N Midland Dr Midland Tx 79707 000625 Plaza Dr 2096 480 000 C2 Trophy Wood Business Center Blk B Lot 3R1 School Boundary Split $49,153 $0 $49,153 0.17400 7,562 41451597 43814M B 3R1 91 Highway 114 Prospect Ltd 4011 N Midland Dr Midland Tx 79707 000625 Plaza Dr 2096 480 000 C2 Trophy Wood Business Center Blk B Lot 3R1 School Boundary Split $49,153 $0 $49,153 0.17400 7,562 41451600 43814M B 3R2 Shri Siddhi Vinayak Llc 207 Hillside Ln Lindsay Tx 76250 000725 Plaza Dr 2096 480 000 C2 Trophy Wood Business Center Blk B Lot 3R2 $795,340 $0 $795,340 2.80900 122,360 $5,493,020 $3,379,501 $8,872,521 Economic Development DAVID PETTIT TIF Board Page 37 of 43 Monday, January 27, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-875-T Name: Status:Type:Agenda Item Regular Session File created:In control:1/23/2014 TIF Board On agenda:Final action: Title:Discuss and take appropriate action regarding a Resolution approving the Preliminary Project and Financing Plan for Tax Increment Reinvestment Zone No.1. Attachments:January 27 2014- RZ#1 RESOLUTION.pdf Action ByDate Action ResultVer. Discuss and take appropriate action regarding a Resolution approving the Preliminary Project and Financing Plan for Tax Increment Reinvestment Zone No.1. TIF Board Page 38 of 43 Monday, January 27, 2014 REINVESTMENT ZONE NO. 1, TOWN OF TROPHY CLUB, TEXAS RESOLUTION NO. RZ1 - 2014-01 A RESOLUTION OF THE BOARD OF DIRECTORS OF REINVESTMENT ZONE NUMBER 1, TOWN OF TROPHY CLUB, TEXAS APPROVING A PROJECT AND FINANCING PLAN FOR THE ZONE; PROVIDING FOR FINDINGS; PROVIDING FOR THE SUBMISSION OF THE PLAN TO THE TROPHY CLUB TOWN COUNCIL; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, as authorized by Chapter 311 of the Texas Tax Code (hereinafter referred to as the “Act”) and pursuant to Ordinance No. 2013-23, adopted by the Town Council of the Town of Trophy Club, Texas (hereinafter referred to as the “Town”) on August 19, 2013, the Town created Reinvestment Zone No. 1, Town of Trophy Club, Texas, (hereinafter referred to as “Zone”); and WHEREAS, pursuant to Ordinance No. 2013-23 the Town created the Board of Directors (hereinafter referred to as “Board”) for the Zone; and WHEREAS, the Board shall make recommendations to the Town Council concerning the administration, management and operation of the Zone; and WHEREAS, the Board shall prepare and adopt a project and financing plan and submit such plan to the Town Council for is approval; and WHEREAS, the Board has been provided a presentation on the preliminary project and financing plan; and WHEREAS, the Board finds that the preliminary project and financing plan is feasible and encourages further development within the Zone; and WHEREAS, the Board finds that the preliminary project and financing plan includes all information required by Section 311.011 (b) and (c) of the Act; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF REINVESTMENT ZONE NUMBER 1, TOWN OF TROPHY CLUB, TEXAS: Section 1. The preliminary project and financing plan for Reinvestment Zone Number 1, Town of Trophy Club, Texas is hereby approved and is attached hereto and incorporated herein as Exhibit “A”, hereinafter the “Plan”. Section 2. The Chair of the Board is authorized to sign this Resolution on the Board’s behalf and to submit the Plan to the Trophy Club Town Council for consideration and approval by ordinance. Section 3. This Resolution shall take effect upon immediately from and after its TIF Board Page 39 of 43 Monday, January 27, 2014 passage. PASSED AND APPROVED by the Board of Directors of Reinvestment Zone Number 1, Town of Trophy Club, Texas on this the 27th day of January, 2014. ______, Chair TIF Board Page 40 of 43 Monday, January 27, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-876-T Name: Status:Type:Agenda Item Regular Session File created:In control:1/23/2014 TIF Board On agenda:Final action: Title:Requests for Future Agenda Items. Attachments: Action ByDate Action ResultVer. Requests for Future Agenda Items. TIF Board Page 41 of 43 Monday, January 27, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-877-T Name: Status:Type:Agenda Item Executive Session File created:In control:1/23/2014 TIF Board On agenda:Final action: Title:Pursuant to Texas Government Code, Annotated, Subchapter 551, the TIF Board will convene into closed executive session as authorized by: Section 551.087 Deliberation Regarding Economic Development Negotiations to discuss or deliberate the offer of financial or other incentives to a business prospect that the Town seeks to have locate within the territory of the Town. Attachments: Action ByDate Action ResultVer. Pursuant to Texas Government Code, Annotated, Subchapter 551, the TIF Board will convene into closed executive session as authorized by: Section 551.087 Deliberation Regarding Economic Development Negotiations to discuss or deliberate the offer of financial or other incentives to a business prospect that the Town seeks to have locate within the territory of the Town. TIF Board Page 42 of 43 Monday, January 27, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-878-T Name: Status:Type:Agenda Item Regular Session File created:In control:1/23/2014 TIF Board On agenda:Final action: Title:Consider and take appropriate action regarding Executive Session. Attachments: Action ByDate Action ResultVer. Consider and take appropriate action regarding Executive Session. TIF Board Page 43 of 43 Monday, January 27, 2014