Keller TIF District Presentation

1. Receive a financial update for the Keller Tax
Increment Reinvestment Zone No. 1 and review
the September 30, 2011 Annual Report.
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2. TIRZ History:
 City of Keller Tax Increment Reinvestment Zone No. 1
(TIRZ) created in 1998
♦ Ordinance No. 934, December 1, 1998
 Original TIRZ Board of Directors comprised of 9
members
♦ Adopted by Resolution No. 1126, December 15, 1998
 Board of Directors increased to 12 members
♦ September 5, 2000 (Resolution No. 1021)
TIRZ
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3.  Original TIRZ capital improvements / financing plan
adopted in 1999 - $21,018,050
♦ TIRZ Board adopted March 25, 1999
♦ City Council adopted June 1, 1999
 Capital improvements / financing plan amended to
$21,083,050
♦ Increased legal, administrative, and issuance costs
by $65,000
♦ Adopted by TIRZ Board and City Council on July
20, 1999
TIRZ
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4.  Capital improvements / financing plan amended to
$32,950,000 (increase of $11,866,950)
♦ Major changes:
► added KISD Natatorium ($8 million)
► increase Town Hall construction cost ($2.3
million)
► increase drainage/retention improvements costs
($1.16 million)
♦ Adopted by TIRZ Board and City Council on April 3,
2001
TIRZ
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5. Excellence - Integrity - Service - Creativity - Communication 2011

6. TIRZ
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TIRZ No. 1
Capital Improvement Plan
April 3, 2001
Streets $11,650,000
Town Center Lane and Bridge
Rufe Snow Drive – Widening & Median
FM 1709 – Median Modification
Bear Creek Parkway – Keller Smithfield Rd to Rufe Snow Dr.
Town Hall Plaza; Public Parking and Public Walks
Keller Smithfield Rd. – Bear Creek Pkwy to Wayside Dr.
Drainage (Detention/Retention) $2,850,000
Tributary Park Drainage
Bear Creek Park Retention; Public Park Development
And Amphitheater Phase I
Town Hall $9,400,000
Design, Construction, Emergency Generator
Natatorium $8,800,000
Design and Construction
Legal/Administrative/Issuance Costs $250,000
Total $32,950,000

7. TIRZ
 Participation Agreements – all “overlapping” entities
participate in the TIRZ:
♦ City of Keller (100%) – contributions based on City’s
adopted tax rate of $0.458 in place at the time TIRZ was
created (current rate - $0.44219)
♦ KISD – 100% of maintenance and operation rate only
♦ Tarrant County (66.2%) – Town Center infrastructure
participation only (excluded participation for Keller Town
Hall and KISD Natatorium construction)
♦ Tarrant County Hospital District (66.2%) – Town Center
infrastructure participation only (excluded participation
for Keller Town Hall and KISD Natatorium construction)
♦ Tarrant County College District (100%)
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8.  Debt Issuance:
♦ 1999: issued $6,825,000 CO’s to fund construction of
streets, water and sewer, and drainage
improvements
♦ 2000: $17,095,000 issued to fund construction of
Town Hall, Town Hall Plaza/Lakes, KISD Natatorium
design, and street improvements
♦ 2001: $8,735,000 issued to construct KISD
Natatorium
♦ 2005: $17,400,000 issued to refund portions of the
1999 and 2000 Certificates of Obligation to take
advantage of lower interest rates, also restructured
due dates of bond principal payments
TIRZ
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9.  Debt Issuance (continued):
♦ 2010: $6,299,996.65 issued to refund portions of
2000 and 2001 Certificates of Obligation, and also
extend due dates of bond principal beyond TIRZ
termination date of 12/31/2018 (to fiscal year 2028)
• Callable on or after 08/15/2018 should TIRZ funds be
available
• Otherwise, $5.58 million remain due and mature after
09/30/18, fully tax-supported obligations of the City of Keller
• As of 10/1/12, $16.958 million of TIRZ-supported bonds will
be outstanding (excludes $5.58 million above)
TIRZ
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10. ♦ Captured Incremental Value Projection (from financing
plan):
TIRZ
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Fiscal Captured
Year Appraised Value
2001 $ 19,416,655
2002 46,053,676
2003 89,939,761
2004 111,381,890
2005 133,573,493
2006 155,689,787
2007 178,433,202
2008 201,225,906
2009 214,874,335
2010 219,171,822
2011 223,555,258
2012 228,026,363
2013 237,238,628
2014 237,238,628
2015 237,238,628
2016 237,238,628
2017 237,238,628
2018 237,238,628

11. ♦ Financial history
TIRZ
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Incremental Incremental
TIRZ Actual TIRZ
Property Incremental Assessment Actual TIRZ
Fiscal Value (from TIRZ Property Revenue (from Property Tax
Year Financing Plan) Value Financing Plan) Assessed
1999 −
$ 2,654,933
$ −
$ −
$
2000 − 13,547,229 − 56,771
2001 19,416,655 27,266,245 422,200 404,982
2002 46,053,676 30,768,624 1,001,403 668,993
2003 89,939,791 78,094,777 1,955,673 926,389
2004 111,381,890 60,563,387 2,421,915 1,529,301
2005 133,573,493 67,393,182 2,904,457 1,593,960
2006 155,689,787 78,094,777 3,385,358 1,846,283
2007 178,433,202 98,357,582 3,879,897 2,325,533
2008 201,225,906 105,668,793 4,375,507 2,491,905
2009 214,874,335 127,879,473 4,672,282 3,010,249
2010(3)
219,171,822 134,453,799 4,765,729 3,164,696
2011 223,555,258 122,223,374 4,861,043 2,877,126
2012(4)
228,026,363 120,894,498 4,958,264 2,860,014

12. ♦ Financial history (cont’d)
TIRZ
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(1) (2) (3) (1) + (2) - (3)
Actual
TIRZ Total TIRZ
Property Tax Other Annual Debt Ending
Received (1)
Revenue(2)
Payments Balance
−
$ 635,747
$ −
$ 635,747
$
26,164 137,404 (416,816) 382,499
433,895 2,505,595 (1,171,659) 2,150,330
530,416 15,636 (1,880,143) 816,239
865,122 110,734 (1,774,959) 17,136
1,314,750 1,280,348 (1,887,464) 724,770
1,490,896 309,652 (1,965,069) 560,249
2,040,078 123,058 (2,167,488) 555,897
2,410,111 34,649 (2,753,303) 247,354
2,545,260 515,747 (3,092,080) 216,281
3,011,047 472,054 (3,614,648) 84,734
3,138,764 314,050 (3,497,746) 39,802
2,856,283 359,323 (3,178,591) 76,817
2,860,015 275,000 (3,175,580) 36,252
Footnotes:
(1) Includes current year TIRZ
assessment, plus prior year
balances received from other
entities.
(2) Includes interest revenue,
capitalized interest from bond
sales, transfers from TIRZ capital
projects fund, City of Keller
subsidies, bond refundings, etc.
(3) Excludes results of 2010 bond
refunding.
(4) FY2012 amounts are
estimates.

13. ♦ Financial history – Keller assessments and subsidies
TIRZ
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Fiscal Keller Keller Keller
Year Assessment Subsidy Total
1999 −
$ −
$ −
$
2000 12,160 − 12,160
2001 85,300 − 85,300
2002 140,940 − 140,940
2003 182,479 − 182,479
2004 277,861 − 277,861
2005 308,661 − 308,661
2006 357,674 − 357,674
2007 450,478 − 450,478
2008 483,963 500,000 983,963
2009 585,688 421,452 1,007,140
2010 615,798 450,712 1,066,510
2011 559,783 349,997 909,780
2012 553,697 275,000 828,697

14. TIRZ
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September 30, 2011 Annual Report

15. Questions?
Johnny Phifer • 817-743-4026
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