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TIF2 2022-01-24 Agendas
k4Ft, D HILLS CITY OF NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE NO. 2 AGENDA 4301 CITY POINT DRIVE NORTH RICHLAND HILLS, TX 76180 MONDAY, JANUARY 24, 2022 REGULAR MEETING: 5:00 PM Held in the Community Room A. CALL TO ORDER B.1 CITIZEN PRESENTATION An opportunity for citizens to address the Tax Increment Reinvestment Zone Number 2 Board on matters which are not scheduled for consideration by this Board or another City Board or Commission at a later date. In order to address the Tax Increment Reinvestment Zone Number 2 Board during citizens presentation, a Public Meeting Appearance Card must be completed and presented to the secretary prior to the start of the Board meeting. B.2 PUBLIC COMMENTS An opportunity for citizens to address the Tax Increment Reinvestment Zone Number 2 Board on matters which are scheduled on this agenda for consideration by the Board, but not scheduled as a public hearing. In order to address the Tax Increment Reinvestment Zone Number 2 Board during public comments, a Public Meeting Appearance Card must be completed and presented to the recording secretary prior to the start of the Board meeting. C. ACTION ITEMS C.1 Approve minutes of the October 11, 201 Tax Increment Reinvestment Zone Number 2 BoardMeeting. C.2 Discuss and accept the Tax Increment Reinvestment Zone Number Annual Report for 2021. Monday, January 24, 2022 Tax Increment Reinvestment Zone No. 2 Agenda Page 1 of 2 C.3 Consider a recommendation to amend the North Richland Hills Tax Increment Reinvestment Zone Number 2 Project Plan. CA Consider a recommendation to amend the North Richland Hills Tax Increment Reinvestment Zone Number 2 Finance Plan. C-5 Receive a report regarding the project and financial status of North Richland Hills Tax Increment Reinvestment Zone Number consider recommendations pertaining to the closure of the Zone, and recommend the North Richland Hills City Council take action to close the Zone. D. ADJOURNMENT Certification I do hereby certify that the above notice of meeting of the North Richland Hills Tax Increment Reinvestment Zone Number 2 was posted at City Hall, City of North Richland Hills, Texas in compliance with Chapter 551, Texas Government Code on Friday, January 21, 2022 by 3:00 PM. Traci Henderson Assistant City Secretary This facility is wheelchair accessible and accessible parking spaces are available. Requests for accommodations or interpretive services must be made 48 hours prior to this meeting. Please contact the City Secretary's office at 817-427-6060 for further information. Monday, January 24, 2022 Tax Increment Reinvestment Zone No. 2 Agenda Page 2 of 2 IrLp NOKTH KICHLAN HILLS TAX INCREMENT REINVESTMENT ZONE NUMBER 2 MEMORANDUM FROM: The Office of the City Manager DATE: January 24, 2022 SUBJECT: Approve minutes of the October 11, 2021 Tax Increment Reinvestment Zone Number 2 Board Meeting PRESENTER: Mark C. Mills, Director of Finance SUMMARY: The minutes are approved by majority vote of the Board of Directors at the Tax Increment Reinvestment Zone No. 2 ("TIF 2") Board meetings. GENERAL DESCRIPTION: Action minutes are prepared for each Board meeting. The minutes for the previous meeting are placed on the agenda for review and approval by the Board of Directors. Upon approval of the minutes, an electronic copy will be uploaded to the City's website. RECOMMENDATION: Approve minutes of the October 11, 2021 Tax Increment Reinvestment Zone Number 2 Board Meeting. MINUTES CITY OF NORTH RICHLAND HILLS, TEXAS TAX INCREMENT REINVESTMENT ZONE NO. 2 BOARD OF DIRECTORS MEETING 4301 CITY POINT DRIVE — COMMUNITY ROOM NORTH RICHLAND HILLS, TX 76180 MONDAY, OCTOBER 11, 2021 - 5:05 P.M. Present: • Oscar Trevino, Chair Mayor, North Richland Hills • Mason Orr Councilmember, North Richland Hills • Suzy Compton Councilmember, North Richland Hills • Rita Wright Oujesky Councilmember, North Richland Hills • Tito Rodriguez Councilmember, North Richland Hills • Rebecca Barksdale Precinct Administrator for Commission Gary Fickes, Northeast Sub Courthouse, Precinct #3 • Susan Alanis Chief Operating Officer, Tarrant County College Absent: • Scott Turnage Councilmember, North Richland Hills • Mark Hallman Vice President Chief Innovation & Transformation Officer, Tarrant County Hospital District, Others Present: • Kelvin Deupree Councilmember • Joe Tolbert President, Birdville I.S.D. • Mark Hindman City Manager • Paulette Hartman Deputy City Manager • Karen Manila Assistant City Manager • Clayton Comstock Director of Planning • Maleshia McGinnis City Attorney • Mark Mills Director of Finance • Glenn Mizell Assistant Director of Finance • Craig Hulse Director of Economic Development • Billy Owens Assistant to the City Manager • Alicia Richardson City Secretary/ Chief Governance Officer • Mary Peters Public Information Officer • Jeff Garner Police Captain A. CALL TO ORDER Chairman Oscar Trevino called the meeting to order at 5.21 p.m. B.1 CITZEN PRESENTATION No Citizen Presentations were made at this time. B.2 PUBLIC COMMENTS The following persons made comments to the Board. 1. Bill Gietema, Arcadia Realty Corporation, 3500 Maple Avenue #1165, Dallas, TX 75219, spoke in support of the Artisan Theatre and their proposal to build a Multi- Use Event and Performing Arts Center adjacent to the NRH Centre and NRH Library. Mr. Gietema also presented a brief history of the Hometown development in North Richland Hills showing the proposed sites of the Performing Arts Center as proposed in the TIF Project Plan. 2. Steve Koons, Hometown HOA Board representative, 6054 Lake Way Mews, North Richland Hills, TX 76180, spoke in support of the Artisan Theatre and their proposal to build a Multi-Use Event and Performing Arts Center adjacent to the NRH Centre and NRH Library. CA APPROVE MINUTES OF THE JUNE 27, 2016 TAX INCREMENT REINVESTMENT ZONE NO. 2 BOARD MEETING Rita Wright Oujesky moved to approve the minutes. Tito Rodriguez seconded the motion. The motion to approve carried 7-0. C.2 CONSIDER THE APPOINTMENT OF A VICE-CHAR AND SECRETARY FOR TAX INCREMENT REINVESTMENT ZONE NO. 2 Director of Finance Mark Mills made a brief presentation on the composition and duties of each TIF Board Officer. The chair is appointed by the North Richland Hills City Council for a one-year term. Mayor Trevino was appointed as Chair at the January 25, 2021 City Council meeting. The TIF Board appoints the Vice-Chair and Secretary, each for a two- year term. Presently, the previous Vice-Chair was Rita Wright Oujesky and the previous Secretary is vacant. Bylaws state appointments are for two year terms each. A motion was made by Mason Orr to appoint Suzy Compton as Vice-Chair and Rita Wright Oujesky as Secretary. Board Member Susan Alanis seconded the motion. The motion to approve carried 7-0. C.3 DISCUSS AND ACCEPT TAX INCREMENT REINVESTMENT ZONE NO. 2 ANNUAL REPORTS FOR 2016, 2017, 2018, 2019 AND 2020 Director of Finance Mark Mills made a brief presentation on the annual reports for each year listed. Since the Board's last meeting in 2016 a number of annual reports remain to be formally accepted by the TIF Board. For the past five years, the amount and source of revenue was presented along with the corresponding amount and purpose of the associated expenditures. The entities' obligations to date for revenue contributions, project expenditures, and associated debt service have been met. The tables are shown below: 2016 2017 2018 2019 2020 Property Tax $3,515,026 $4,104,396 $4,930,544 $5,490,424 $4,164,923 Investment Income $91,299 $87,368 $99,730 $396,367 $374,441 Total $3,606,325 $4,191,763 $5,030,274 $5,886,791 $4,539,364 2016 2017 2018 2019 2020 Debt Service $2,146,045 $2,346,287 $2,291,946 $2,260,461 $2,198,674 Total $2,146,045 $2,346,287 $2,291,946 $2,260,461 $2,198,674 The Board had no further questions. Suzy Compton moved to accept the TIF No. 2 Annual Reports for 2016, 2017, 2018, 2019, and 2020. Rebecca Barksdale seconded the motion, which was approved 7-0. DA RECEIVE A STATUS REPORT REGARDING THE PROJECT AND FINANCIAL STATUS OF TAX INCREMENT REINVESTMENT ZONE NUMBER 2 Director of Finance Mark Mills made a presentation on the financial status of TIF No. 2. Tarrant County and Tarrant County Hospital District have reached their maximum contribution. Only North Richland Hills and Tarrant County College continue to contribute revenue generated from the tax increment to TIF No. 2. The majority of the projects within TIF No. 2 are complete. 1) NRH Public Library opened in 2008 $10.0 million 2) NRH Centre opened in 2012 $21.9 million 3) Developer Contributions $14.4 million A planned Performing Arts Center project remains with an estimated cost, per the project plan, of$8,213,279. A summary of the financial status presented is shown below- Re sources to date $ 103,773,222 Expenditures to date $ 77,614,593 Available Balance $ 26,158,629 Outstanding Obligations Outstanding Debt as of 10/01/2021 $ 10,475,716 Reserve for Performing Arts Center $ 8,213,279 $ 18,688,995 As of 9/30/2021, there is sufficient balance in the TIF No.2 funds to pay all outstanding obligations. No action by the Board was required on this item. D.2 RECEIVE NOTICE FROM THE TARRANT COUNTY COLLEGE DISTRICT THAT THE DISTRICT NO LONGER PLANS TO PURSUE THE PERFORMING ARTS CENTER PROJECT THAT IS INCLUDED IN THE TAX INCREMENT REINVESTMENT ZONE NUMBER 2 PROJECT PLAN. Director of Finance Mark Mills made a presentation regarding a letter received by the City from Tarrant County College District. Mr. Eugene Giovannini, Chancellor of Tarrant County College District, sent a letter to Mark Hindman, City Manager on February 15, 2021 notifying the TIF Board the College District no longer plans to pursue a Performing Arts Center on the Northeast Campus. No action by the Board was required on this item. D.3 RECEIVE A PRESENTATION FROM REPRESENTATIVES OF THE ARTISAN THEATER REQUESTING AN AMENDMENT TO THE NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE NUMBER 2 PROJECT PLAN AND POTENTIAL ALLOCATION OF FUNDING FOR THE CONSTRUCTION OF A THEATER FOR USE BY THE ARTISAN THEATER COMPANY. Director of Finance Mark Mills introduced the item. Mr. Richard Blair, Co-Founder and Executive Producer of Artisan Center Theater made a presentation to the Board on the concept for a Multi-Use Event and Performing Arts Center to be located adjacent to the NRH Centre and NRH Library. After discussion, the Board asked Mr. Blair to return in approximately 90 days — at a Board meeting to be scheduled for January 24, 2022 —with responses to several questions from the Board. No action by the Board was required on this item. DA DISCUSS AND SET A FUTURE MEETING SCHEDULE OF THE TAX INCREMENT REINVESTMENT ZONE NUMBER 2 Director of Finance Mark Mills proposed two possible dates for the next meeting of the TIF No. 2 Board — (1) Monday, April 11, 2022 or (2) Monday, April 25, 2022. After discussion the Board determined it had no preference and will leave it to staff to select the date for the next meeting from the options provided. In conjunction with the discussion on item D.3, a Board meeting will be scheduled for January 24, 2022 to allow the Artisan Theater to make an additional presentation, providing clarification on the Board's questions. No action by the Board was required on this item. E. ADJOURNMENT Mayor Trevino adjourned the meeting at 6.15 p.m. IrLp NOKTH KICHLAN HILLS TAX INCREMENT REINVESTMENT ZONE NUMBER 2 MEMORANDUM FROM: The Office of the City Manager DATE: January 24, 2022 SUBJECT: Discuss and accept the Tax Increment Reinvestment Zone Number 2 Annual Report for 2021. PRESENTER: Mark C. Mills, Director of Finance SUMMARY: The Tax Increment Reinvestment Zone is required to submit an annual report to the Board detailing its financial activities for the year. This report is also required to be submitted to the State of Texas. GENERAL DESCRIPTION: Tax Increment Reinvestment Zones are required to submit an annual report detailing financial activities for the year. A copy of the 2021 Tax Increment Reinvestment Zone No. 2 Annual Report is attached for the Board's review. Following the presentation, staff will request that the Board vote to accept the annual report. RECOMMENDATION: Accept the Tax Increment Reinvestment Zone Number 2 Annual Report for 2021. North Richland Hills Tax Increment Reinvestment Zone No. 2 Annual Report for the Period Ending September 30, 2021 m r J r 11i i r Ji w fir, 1 �NI y i NV, �1 � I p" n rr, � r ✓, City of North Richland Hills Telephone: 817.427.6166 4301 City Point Drive Email: mmills@nrhtx.com North Richland Hills, TX 76180 Website: www.nrhtx.com 14#41tH CITY OF NORTH RICHLAND HILLS MEMO TO: Mayor and City Council Board of Directors —Tax Increment Reinvestment Zone No. 2 FROM: Mark C. Mills, Director of Finance SUBJECT: Tax Increment Reinvestment Zone No. 2 Executive Summary for Fiscal Year Ended September 30, 2021 DATE: January 10, 2022 Attached for your information is the Annual Report of Tax Increment Reinvestment Zone No. 2 ("TIF 2"), for the Year Ended September 30, 2021. TIF 2 was created by the City of North Richland Hills (the "City") in 1999. The District was created to provide public improvements that would benefit the City, Tarrant County College ("TCC"), Tarrant County (the "County"), and Tarrant County Hospital District (the "Hospital"). Planned public improvements include a conference center, a recreation center, a library and infrastructure improvements in the Home Town NRH development. Total public improvements were estimated at $65.2 million including developer infrastructure. The District was created for twenty-eight years to provide for the retirement of planned debt issuance for financing of the improvements. The City and TCC agreed to contribute 100% for the full twenty-eight years. The County and Hospital agreed to participate up to a fixed dollar amount that was anticipated to accumulate over approximately a fifteen- year period based on estimated property values. At the time the District was created the main developer, E-Systems, estimated that Home Town NRH would be comprised of approximately 70% residential and 30% commercial and retail development. The District's boundaries also include other developments such as the Crossing Center(Kohl's), Home Depot, Blue Line Ice (NYTEX) and the Barnett property (Fountain Ridge development). The plan (based on a study done by Zimmerman/Volk) estimated that property values would increase by over $370 million in ten years. Over the life of the District, the values were estimated to generate approximately$82.2 million in total tax revenues to fund the planned public improvements. The captured taxable value in tax year 2020 (fiscal year 2021) was $552,022,886 for the City, $590,066,183 for the County and Hospital, and $590,094,183 for TCC.' The District billed a total of $3,914,656.05 in June 2021; $3,146,530.45 to the City and $768,125.60 to TCC. With the completion of a partial payment in 2020, both the County and Hospital reached their fixed contribution maximum. The library project was completed and the new library opened in the spring of 2008. The project was completed within the original TIF 2 finance plan budget of$10.2 million. In 2010 the City issued $18.8 million dollars for the construction and completion of the recreation center to be paid with TIF 2 revenues. The total cost of the project funded with TIF tax dollars was $21.9 million in accordance with the original project plan. Opening of the recreation center occurred in the spring of 2012. It is located within the TIF 2 boundaries, adjacent to the library. In November 2015 the boundaries of TIF 2 were amended to include the NRH portion of the TCC northeast campus. The change included only tax-exempt property and was designed to allow TCC to use TIF 2 money for a visual, performing arts and technical teaching center on campus. Based on the February 2021 TIF Account Summary Listing provided by Tarrant Appraisal District. The annual report for the period ending September 30, 2021 (see attached) includes TIF 2 revenues and expenditures for the year, and outstanding principal and interest as of September 30, 2021. Revenues projected over the life of the TIF will pay for the outstanding principal and interest and all other original project plan costs. Mark C. Mills Director of Finance Attachment: Tax Increment Reinvestment Zone (TIRZ) No. 2 Annual Report - 2021 City of North Richland Hills Tax Increment Reinvestment Zone No.2 Annual Report Year Ended September 30,2021 Amount&Source of Revenue in the Tax Increment Fund FY 2021: Property Tax Revenues Collected $ 3,914,656 111121 Investment Income $ 20,175 Total Revenues in Fiscal Year 2021 $ 3,934,831 Amount and Purpose of Expenditures of the Fund FY 2021: Principal, Interest, Issuance&Paying Agent Payments on Certificate Indebtedness $ 2,108,269 Total Fund Expenditures in Fiscal Year 2021 $ 2,108,269 Principal &Interest due on outstanding indebtedness as of September 30,2021: Principal Outstanding $ 9,460,000 Interest Outstanding $ 1,015,716 Total Principal &Interest Outstanding 9-30-2021 $ 10,475,716 Captured Appraised Value shared by the Municipality&Other Taxing Entities and total amount of tax increments received Captured Tax Property Tax 1999 Base Year Taxable Value Appraised Rate/$100 Revenue Taxing Unit Appraised Value TY 2020 Value TY 2020 FY 2021 FY 2021 City of North Richland Hills $40,020,188 $592,043,074 $552,022,886 $0.570000 $3,146,530.45 Tarrant County $40,355,588 $630,421,771 $590,066,183 $0.234000 $0.00 Tarrant County Hospital District $40,355,588 $630,421,771 $590,066,183 $0.224429 $0.00 (2) Tarrant County College $40,355,588 $630,449,771 $590,094,183 $0.130170 $768,125.60 $3,914,656.05 Total billings outstanding $0.00 Taxes Collected FY 2020 $3,914,656.05 This report submitted by w Mark C. Mills Director of Finance City of North Richland Hills,Texas Notes: FY:Fiscal Year TY:Tax Year (1)-With their Calendar Year 2020 payment,Tarrant County reached their defined maximum contribution of$10,449,734. (2)-With their Calendar Year 2020 payment,Tarrant County Hospital District reached their defined maximum contribution of$9,235,788. Tax Increment Reinvestment Zone(TIRZ)No.2 Annual Report-2021 IrLp NOKTH KICHLAN HILLS TAX INCREMENT REINVESTMENT ZONE NUMBER 2 MEMORANDUM FROM: The Office of the City Manager DATE: January 24, 2022 SUBJECT: Consider a recommendation to amend the North Richland Hills Tax Increment Reinvestment Zone Number 2 Project Plan. PRESENTER: Mark C. Mills, Director of Finance SUMMARY: The Tarrant County College District has provided notice that it no longer intends to pursue a Performing Arts Center within the boundaries of Tax Increment Reinvestment Zone Number 2 (the"Zone"). In response to this notification, it is recommended that the Project Plan for North Richland Hills Tax Increment Reinvestment Zone Number 2 be amended. GENERAL DESCRIPTION: The original North Richland Hills Tax Increment Reinvestment Zone Number 2 ("TIF 2") Project Plan included an $8,213,279 project for the construction of a Conference Center. This facility was intended to be a Tarrant County College ("TCC") multi-purpose facility designed to meet the needs of its students in the fine arts, sciences, and management. Additionally, it was intended to be available to outside groups for short-term conferences and seminars. Over the years, TCC re-envisioned the project culminating in a 2015 amendment to the Project Plan. As part of this amendment, the project was renamed from Conference Center to TCCD Visual, Technical, and Performing Arts Center. In February 2021, Tarrant County College District ("the District"), provided written notice to the City of North Richland Hills, that the District no longer intended to pursue the Performing Arts Center at or near the Northeast Campus. The letter from TCC is included as Attachment 1. As a result, it is recommended that the project plan be amended to remove the project costs and references associated with a Conference Center or Performing Arts Center. The original Project Plan is included as Attachment 2. Removal of this component from the Project Plan will result in all projects associated with TIF 2 being complete. IrLp NOKTH KICHLAN HILLS RECOMMENDATION: Approve an amendment to the North Richland Hills Tax Increment Reinvestment Zone Number 2 Project Plan and recommend the North Richland Hills City Council approve the amendment. Attachment 1 Tarrant County College District 1500 Houston Street•Fort Worth,Texas 76102-6524. 817-515-5201 Eugene Giovannini,Ed.D. Chancellor February 15, 2021 City of North Richland Hills Attn: Mark Hindman, City Manager 4301 City Point Drive North Richland Hills, Texas 76108 Dear Mr. Hindman: This is a follow-up to recent dialogue you have had with Tarrant County College's Chief Operating Officer, Susan Alanis. The District is no longer pursuing a Conference/Performing Arts Center at or near our Northeast Campus as originally contemplated by the North Richland Hills Tax Increment Reinvestment Zone#2 (TIRZ) Project and Financing Plan. We look forward to the City's evaluation and appropriate recommendations to the TIRZ Board regarding the future purpose and disposition of the funds that were earmarked for this purpose. Please feel free to contact me should you have any questions. Sincerely, Eugene Giovannini, Ed.D. Chancellor Attachment 2 CITY OF NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE NO. 2 r PROJECT PLAN June 29, 2000 PREPARED BY THE CITY OF NORTH RICHLAND HILLS ECONOMIC DEVELOPMENT DEPARTMENT $ , City Secretary Office Y®" Official Record Copy Attachment 2 Project Plan Page 2 As required by the Chapter 311, Title 3, Subtitle B of the Texas Property Tax Code, the City of North Richland Hills and First Southwest Company submit the following Project Plan for the creation of the Reinvestment Zone Number 2: BACKGROUND Dallas-based Arcadia Realty Corporation and the pension trust fund of Raytheon Systems, Inc. began discussing development of a "Town Center" development on 330 acres immediately north of the NRH20 Family Water Park in June 1997. In November 1997, the North Richland Hills City Council authorized the joint funding of two consultant studies to determine 1) the market for such a Town Center development and 2) the need for proposed public facilities to be constructed within the project. Consultants delivered the resulting analysis in June 1998, which quantified the need for a mixed-use "traditional neighborhood development" (TND)"—and likewise illustrated market demand for a new library building and recreation center. Representatives of Arcadia Realty Corporation brought renowned city planner Andres Duany to Tarrant County College for an evening presentation in early September 1998. The event allowed the City to introduce representatives of Blue Line Ice Complex, who announced their plans to locate in the Town Center as its first anchor development. Six weeks later in mid-October, Arcadia and the City co-produced a weeklong design workshop--convening a team of architects, planners, engineers and specialists led by Duany/Plater-Zyberk, Inc. The week of public and private meetings with adjacent property owners, community leaders and interested citizens culminated in the presentation of a detailed site plan for a 280-acre Town Center development—and preliminary drawings featuring buildings with a "Texas Regional" architectural look. Discussions then turned to Town Center zoning. After several weeks of consideration—and joint talks with Arcadia officials—the North Richland Hills City Council became the first known local governing body in the United States (and possibly the world)to create and adopt a Town Center zoning classification (in January 1999). At the same time, Council approved an amended Thoroughfare Plan for the development. Representatives of Carter& Burgess immediately began preparing the preliminary site plan and civil engineering documents—and likewise started negotiating with the U.S. Corps of Engineers concerning the Town Center lakes development. Preparation of the site plan included periodic meetings with the City Departments involved in North Richland Hills' Development Review Committee. Attachment 2 Project Plan Page 3 While Carter& Burgess formally submitted the preliminary plat for review in the Summer of 1999—and it was eventually approved by the Planning &Zoning Commission on August 26—City Councilmembers continued discussions on the Library and Recreation Center at a Workshop on August 17. On August 23, Council unanimously passed Resolution 99-60 expressing intent to create Reinvestment Zone Number 2. On September 13, 1999 City Council accepted the Preliminary Project Plan and Preliminary Financing Plan. On October 25, 1999 the North Richland Hills City Council approved Ordinance No. 2420 establishing Reinvestment Zone Number 2, City of North Richland Hills. The Zone's Board of Directors adopted the Board Bylaws and approved the Preliminary Project and Financing Plan on November 1, 1999. DETAILED DESCRIPTION AND COST OF PROJECTS Throughout the Town Center discussions, Arcadia Realty Corporation representatives and North Richland Hills City officials have discussed the idea of placing a library in the eastern-most portion of the project, and a recreation center as shown on the included Master Plan. There have likewise been informal discussions among Arcadia representatives, Tarrant County College (TCC) officials and City staff regarding a Conference Center to be operated by TCC's Northeast Campus. Located at the eastern edge of Town Center (at or near where "City Hall is shown on the Town Center plan), this facility will supplement the"Civic" facility recommended by consultants during the October 1998 Design Workshop. More recently, City and Arcadia Realty Corporation officials have also considered the infrastructure improvements necessary to facilitate the Town Center's commercial development. Library The North Richland Hills Library Board has been working with a consultant for several months to identify future needs—and have laid out plans for a 60,000 SF facility costing $9,675,331. The TIRZ will reimburse the City any debt service incurred for the project. Costs include: Site acquisition $200,000 Parking 300,000 Construction of shell 4,500,000 Finish-out of 45,000 1,575,000 Furniture, Fixtures, Equipment 873,000 Fees (@ 10%) 724,800 Information Technology 450,000 Owners, Contingency, Inflation 1,497,516 Cost of Debt Issuance 95,795 Total Project Cost $10,216,111 Attachment 2 Project Plan Page 4 Regional Recreation Center Likewise, the NRH Park Board—in association with the Park Facilities Development Corporation—has prepared plans for a 100,000 SF regional recreation center. The TIRZ will reimburse the City any debt service incurred for the project. This $21.9 million state-of-the-art facility is anticipated to include a number of essential elements: • Double Gymnasium • Banquet/Meeting Room Space • Fitness Center • Indoor Pool (natatorium)/Leisure Pool • Weight Room • Rock Climbing Walls • Classrooms • Instruction Kitchen • Dance Rooms • Concession Area • Aerobic Rooms • Ceramic/Art Rooms with Kiln • Pre-school/Day Care Room • Lockers and Showers • Game Room . Administrative Offices • Indoor Running and Walking Track Such a recreation facility is expected to cost: Land acquisition $0 Site improvements $715,673 (parking, utilities, etc.) Facility construction costs $16,000,000 Contingency, Fixtures & Furniture, Inflation $2,336,649 Soft costs (design, materials $2,640,000 testing, miscellaneous professional expenses) Cost of Debt Issuance $210,000 Total Project Cost $21,902,322 Conference Center For several years, Tarrant County College officials have been planning a multi-purpose facility designed to not only meet the needs of students in the fine arts, sciences and management—but likewise to use and make available to outside groups for short-term conferences and seminars. The Conference Center will include the following: • Auditorium • Catering Service Area • Exhibit Hall • Administrative Office • Training Rooms • Utility/Storage Areas • Tiered Meeting Room • Parking • Computer Demonstration Room • Marquee • Planetarium • Landscaping/Garden • Conference Rooms Attachment 2 Project Plan Page 5 In addition to hosting "Fine Arts Performances and concerts, Town hall meetings and conference general sessions", TCC officials also foresee this facility serving as an "InfoMart West'!--with computer hardware and software vendors renting space for display and use of their products and as a workforce development, teaching and training facility. The participation agreement calls for the college to build and operate the Conference Center. The TIRZ will reimburse the College District debt service for the project. The plan estimates the start of the project in fiscal year 2005. The reimbursement is projected over twenty years beginning in fiscal year 2006. Such a facility is expected to cost: Site improvements $1,800,000 (parking, signage, landscaping) Facility construction costs 6,333,279 Contingency, Fixtures & Furniture, Inflation Cost of Debt Issuance 80,000 Total Project Cost $8,213,279 Infrastructure The Town Center's commercial infrastructure includes water, sanitary sewer, drainage, streets and public parking improvements—as well as internal spine roads and necessary traffic signals. These facilities will be located in rights of way, easements and other locations appropriate for their use. Such improvements will be scheduled in the phases or stages: Stage 1: $2,612,907 (September 2000 completion) Stage 2: 1,999,000 (September 2000 completion) Stage 3: 9,018,444 (March 2002 completion) Stage 4: 1,131,000 (September 2002 completion) Stage 5: 2,151,674 (March 2004 completion) Stage 6: 2,801,573 (September 2004 completion) Stage 7: 1,399,892 (March 2006 completion) Stage 8: 1,399,892 (March 2006 completion) Stage 9: 947,187 (March 2010 completion) Contingencies, Inflation 1,412,536 Total Project Cost: $24,874,105 Attachment 2 Project Plan Page 6 MAP Attached is an aerial map showing the existing conditions and uses of the 280-acre Town Center location and a site plan and artist rendering illustrating the proposed mixed-use development. PROPOSED CHANGES TO ZONING ORDINANCE, MASTER PLAN, BUILDING CODES AND/OR OTHER MUNICIPAL ORDINANCES The existing zoning (TC) will provide for all uses intended by owner/developer Arcadia Realty Corporation. The City of North Richland Hills is not proposing any additional changes to its master plan, zoning ordinance, building codes or any other municipal ordinances to help facilitate this project. LIST OF NON-PROJECT COSTS The City of North Richland Hills expects that Arcadia Realty Corporation (in partnership with Raytheon Systems, Inc.) its tenants and/or other future builders and/or investors will spend a minimum of$386 million in developing the infrastructure, building shells, constructing tenant finish out, landscaping and signing projects within the Town Center. The non-project costs are expected to include anything necessary to develop: 160,000 SF of Retail Space 600,000 SF of Class A & B and Owner-Occupied Corporate Office Space 1,400 residential housing units METHOD OF RELOCATION The City of North Richland Hills does not anticipate needing to relocate any existing property owners or tenants as a result of implementing the plan. Attachment 2 Project Plan Page 7 EXHIBIT 1 Proposed Tax Increment Reinvestment Zone Project Plan Library at Town Center Estimated Cost of Project Plan: TIF Expenses Design & Construction of Library $10,216,111 (Includes Cost of Issuance) Recreation Center at Town Center Estimated Cost of Project Plan: TIF Expenses: Design & Construction of Recreation Center 21,902,322 (includes Cost of Issuance) TCC Northeast Conference Center Estimated Cost of Project Plan: TIF Expenses: Design & Construction of Center $ 8,213,279 (Includes Cost of Issuance) Town Center Infrastructure (excluding residential development) Estimated Cost of Project Plan: TIF Expenses: Design & Construction of Infrastructure $24,874,105 GRAND TOTAL: PLAN COST $65,205,817 b�;"4� � x°,„ 'r d „�}" x d�`.v s.',�"�t'"aar{� { a � n ✓^'wrax mix^ *^ a�'�u t-�, � �.w .,, � •* �t�a�s,.✓'�,� 0,; .�'m C.:�$''�r� .r wr �e�"«t 'zi "; r "!A� r a"�C^f M h,i �e,� m�'� ✓ w+""� � "' a" >"w ,A TM' w. n d�uYwenr .x ott?�Y ^ , m rm" r ! � ^wj ,r �nm" a '�,.� rx � r � 4'.{ � Na+ ✓. v fir+ Vn d w�Pk � A�," 4� X �'wz r �'" M� ..� �' �+ r'*+Y x�'t'd ao- � ��'a a � �� ✓°q, � r � �^»dr �I': wY � � I" .. �S �� .,r� �+ � ''� k t "i6n am� � trV��, r¢+Ln�r titi�: a� �"A '", P '` rw,,�, L n qr✓ ;{ a✓.dnw ^:Mrm ,"Y "��^ �x' x, -� d . >N'✓s � r � x } w�„� �r;�{^?z5 �Y��.„4x x� ;�t ,f t{4�y�'. 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"' � Jk � � 4 ha- Tom✓ �,w '�.. �� .✓ C ��^�rb� � � n �"m� "�.�.dAZ � ,�� ° t �. ik° ""''�x'° w ^�,«8�t .,'w4 '� h`$r�i. t*a'�F k � ✓ aA �bqy h. w r n' �a fi,��i+' � .;fin„ ". Proposed Reinvestment • 'V k ex, .�� "�(,y � ,�+"� ��"1.� �^ t ,� y°w , ,..,y 1 a 1 ,qr N°�a,, t� t '� A»h "*a ,,. �� ° ,•w^�{@� �`�r� ,a�*$" r�,,d,�f� �e ��d � , +c {.:. p�"�� l ° aJ � s�:` ,r"'7 k "1 °G'"t� „X./� �Wiz+5 .� °" P m J� NA !n+w,�p ;�' a✓& 5'4y`3,� �w"& �'� ,d � ✓ � ,.t ., �� kris ,� ��@ +t�'P � r w �, ..,: m^^y � 1 A �+ ^n, rw ^�+ ">rdy ,�+;� ttr ^s,..*s, n� � "n'✓ "� � ,mr''�r w c�rc;9"'^ nX zir s'�"W u�"�'��p '� �Nw °a :' fru'� �J; 'A � i %� Ea r:H ��#G`,"'�+,m t \ e ' v;Lp�.� ..,�n�,. a e'�, '�„d r�' ,?�+�,d^��w" k,°r i% � o q�1t•8' �, ; i� �t k� y ;fir r t� w r n y '. 1 , _...._ ._..-... ...... -- Attachment 2 U -— ---- :T<TIT:III CIf I:I:I_I. I Ll 0 s s I I -I_TIIJTITI=T ,, -, ,- 77 I Ii I 1 Nt-'^'{ t�l� I---, �t'�- �/{(-,�-.( ✓"Ii~ '--�1 �_.7 ONiutea I r Mfg I � I — — WIN eaW Nitll l p , � I-71_.I � t �(`� V( i N--��'Ir----� ', CaWk�pNJ - I -s I--' _�4 J 1 .,,,�{ �� (..•-h�,..� �.- J 1-11-'-.- ,'-.._I oN&i19N0 I d I ON HaAA I aaaANflaaa I �� r m O m rn r a,O 10 D z T Z n C 0 _ °,' mm mM co Q m ©L 6®+ - cam MM ch rMD 9 �a ggqd C4 Q am am 0000poo d •• ® q 'p q'eq � i 000000a� ®y y P UO 9 I I oo"ocT % • q I P Q 9 �Q A l no 0 Attachment 2 IrLp NOKTH KICHLAN HILLS TAX INCREMENT REINVESTMENT ZONE NUMBER 2 MEMORANDUM FROM: The Office of the City Manager DATE: January 24, 2022 SUBJECT: Consider a recommendation to amend the North Richland Hills Tax Increment Reinvestment Zone Number 2 Finance Plan. PRESENTER: Mark C. Mills, Director of Finance SUMMARY: The Tarrant County College District has provided notice that it no longer intends to pursue a Performing Arts Center within the boundaries of North Richland Hills Tax Increment Reinvestment Zone Number 2 (the "Zone"). In response, staff proposed an amendment to the Zone's Project Plan to remove this project. In addition to amending the Project Plan an amendment to the Zone's Finance Plan should be considered. GENERAL DESCRIPTION: The original North Richland Hills Tax Increment Reinvestment Zone Number 2 ("TIF 2") Finance Plan included an $8,213,279 project for the construction of a Conference Center. This facility was intended to be a Tarrant County College ("TCC") multi-purpose facility designed to meet the needs of its students in the fine arts, sciences, and management. Additionally, it was intended to be available to outside groups for short-term conferences and seminars. Over the years, TCC re-envisioned the project culminating in a 2015 amendment to the Project Plan. As part of this amendment, the project was renamed from Conference Center to TCCD Visual, Technical, and Performing Arts Center ("Performing Arts Center"). In February 2021, Tarrant County College District ("the District"), provided written notice to the City of North Richland Hills, that the District no longer intended to pursue the Conference / Performing Arts Center at or near the Northeast Campus. As a result, it was recommended that the Zone's Project Plan be amended to remove the project costs and references associated with a Conference Center or Performing Arts Center. It is also recommended that the Board of Directors consider amending the Zone's Finance Plan to remove the costs and references to a Conference Center or a Performing Arts Center. The original Finance Plan is included as Attachment 1. With the removal of this project from these plans, all of the projects within the Zone are now complete and sufficient funds are available within the TIF fund to satisfy the Zone's remaining obligations. IrLp NOKTH KICHLAN HILLS RECOMMENDATION: Approve an amendment to the North Richland Hills Tax Increment Reinvestment Zone Number 2 Finance Plan and recommend the North Richland Hills City Council approve the amendment. Attachment 1 CITY OF NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE NO. 2 FINANCE PLAN June 29, 2000 PREPARED BY THE CITY OF NORTH RICHLA D HILLS FINANCE DEPARTMENT Attachment 1 TAX INCREMENT REINVESTMENT ZONE CITY OF NORTH RICHLAND HILLS FINANCING OPTIONS FOR TAB INCREMENT SUPPORTED DEBT 2 Attachment 1 CITY OF NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE O. 2 DEFINITION OF TERMS ® The City creates the Tax Increment Reinvestment Zone (TIRZ). ® The Base Value is the value that is on the ground when the TIRZ is Created, ® The Captured Assessed Valuation is the real property which is added to the tax base after TIRZ is created. The Captured Assessed Valuation does not include personal property. • The TIRZ has no taxing powers; however, participating overlapping political subdivisions' tax revenues generated on the Captured Assessed Valuation are diverted to the Tax Increment Fund. ® Tax increment revenues can only be used for the benefit of the property within the TIRZ, including paying for capital improvements and paying debt service on bonds issued for improvements. • A TIRZ has a defined period of existence which may be related to the term of debt. Once the TIRZ is abolished, the tax revenues are no longer diverted to the Tax Increment Fund. ® The City creates the TIRZ and is the issuer of debt and is therefore responsible for the payment of the Debt. Other participating political subdivisions allow their tax revenues to be diverted to the Tax Increment Fund and have representation on the TIRZ Board. Attachment 1 CITY OF NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE O. 2 FINANCING OPTIONS FOR TAX INCREMENT SUPPORTED DEBT Combination Tax and TIRZ Revenue Certificates of Obligation ® Same rating as general obligation bonds-, • Requires a pledge of tax increment revenues and ad valorem property taxes; ® Are subject to vote if petitioned by 5% of the registered voters; ® Most cost effective debt option-, • Sold on a more timely basis, TIRZ Revenue Bonds ® Supported solely by the revenues generated by the TIRZ zone-, ® Cannot generally be marketed until improvements are on the ground; • Generally, these are sold at a lower rating than certificates of obligation; ® They require the use of a Reserve Fund and restrictive additional issuance covenants', ® Higher borrowing costs. 4 Attachment 1 HILLSCITY OF NORTH RICHLAND TAX INCREMENT REINVESTMENT EST ENT E NO. FLOW-,OF-FUNDS Tax Increment Revenues City of North Richland Hills Ad Valorem Property Tax Revenues(') Interest Earnings on Construction Fund ( � Tax Increment Fund IF Debt Service Fund Bond Holders necessary. (2) During construction period only. 5 Attachment 1 CITY OF NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE NO. 2 FINANCE PLAID DETAIL DESCRIPTION AND COST OF PROJECTS Attachment 1 CITY OF NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE NO. 2 DESCRIPTION AND COST OF PROJECTS BACKGROUND Dallas-based Arcadia Realty Corporation and the pension trust fund of Raytheon Systems, Inc. began discussing development of a "Town Center" development on 330 acres immediately north of the NRH20 Family Water Park in June 1997. In November 1997, the North Richland Hills City Council authorized the joint funding of two consultant studies to determine 1) the market for such a Town Center development and 2) the need for proposed public facilities to be constructed within the project. Consultants delivered the resulting analysis in June 1998, which quantified the need for a mixed-use "traditional neighborhood development" (TND)"—and likewise illustrated market demand for a new library building and recreation center. Representatives of Arcadia Realty Corporation brought renowned city planner Andres Duany to Tarrant County College for an evening presentation in early September 1998. The event allowed the City to introduce representatives of Blue Line Ice Complex, who announced their plans to locate in the Town Center as its first anchor development. Six weeks later in mid-October, Arcadia and the City co-produced a weeklong design workshop—convening a team of architects, planners, engineers and specialists led by Duany/Plater-Zyberk, Inc, The week of public and private meetings with adjacent property owners, community leaders and interested citizens culminated in the presentation of a detailed site plan for a 280-acre Town Center development—and preliminary drawings featuring buildings with a "Texas Regional" architectural look. Discussions then turned to Town Center zoning. After several weeks of consideration— and joint talks with Arcadia officials—the North Richland Hills City Council became the first known local governing body in the United States (and possibly the world) to create and adopt a Town Center zoning classification (in January 1999). At the same time, Council approved an amended Thoroughfare Plan for the development. Representatives of Carter & Burgess immediately began preparing the preliminary site plan and civil engineering documents—and likewise started negotiating with the U.S. Corps of Engineers concerning the Town Center lakes development. Preparation of the site plan included periodic meetings with the City Departments involved in North Richland Hills' Development Review Committee. 7 Attachment 1 BACKGROUND cont. While Carter & Burgess formally submitted the preliminary plat for review in the Summer of 1999—and it was eventually approved by the Planning & Zoning Commission on August 26—City Council members continued discussions on the Library and Recreation Center at a Workshop on August 17. On August 23, Council unanimously passed Resolution 99-60 expressing intent to create Reinvestment Zone Number 2. On September 13, 1999 City Council accepted the Preliminary Project Plan and Preliminary Financing Plan. On October 25, 1999 the North Richland Hills City Council approved Ordinance No, 2420 establishing Reinvestment Zone Number 2, City of North Richland Hills. The Zone's Board of Directors adopted the Board Bylaws and approved the Preliminary Project and Financing Plan on November 1, 1999. DETAIL DESCRIPTION AND COST OF PROJECTS Throughout the Town Center discussions, Arcadia Realty Corporation representatives and North Richland Hills City officials have discussed the idea of placing a library in the eastern-most portion of the project, and a recreation center as shown on the included Master Plan. There have likewise been informal discussions among Arcadia representatives, Tarrant County College (TCC) officials and City staff regarding a Conference Center to be operated by TCC's Northeast Campus. Located at the eastern edge of Town Center (at or near where "City Hall is shown on the Town Center plan), this facility will supplement the "Civic" facility recommended by consultants during the October 1998 Design Workshop. More recently, City and Arcadia Realty Corporation officials have also considered the infrastructure improvements necessary to facilitate the Town Center's commercial development. Library The North Richland Hills Library Board has been working with a consultant for several months to identify future needs—and have laid out plans for a 60,000 SF facility costing $9,675,331. The TIRZ will reimburse the City any debt service incurred for the project. Costs include: Site acquisition $200,000 Parking 300,000 Construction of shell 4,500,000 Finish-out of 45,000 1,575,000 Furniture, Fixtures, Equipment 873,000 Fees (@ 10%) 724,800 Information Technology 450,000 r)XAmomm n C. nfingency, Inflation 1,497,516 .... I-I ------ .7 Cost of Debt Issuance _ 95,795 Total Project Cost $10,216,111 8 Attachment 1 DETAIL DESCRIPTION AND COST OF PROJECTS cont. Regional Recreation Center Likewise, the NRH Park Board—in association with the Park Facilities Development Corporation—has prepared plans for a 100,000 SF regional recreation center. The TIRZ will reimburse the City any debt service incurred for the project, This $21.9 million state-of-the-art facility is anticipated to include a number of essential elements: • Double Gymnasium 0 Banquet/Meeting Room Space • Fitness Center • Indoor Pool (natatorium)/Leisure • Weight Room Pool • Classrooms 0 Rock Climbing Walls • Dance Rooms a Instruction Kitchen • Aerobic Rooms 0 Concession Area • Pre-school/Day Care Room 0 Ceramic/Art Rooms with Kiln • Game Room 0 Lockers and Showers • Indoor Running and Walking Track 0 Administrative Offices Such a recreation facility is expected to cost: Land acquisition $0 Site improvements $715,673 (parking, utilities, etc.) Facility construction costs $16,000,000 Contingency, Fixtures & Furniture, Inflation $2,336,649 Soft costs $2,640,000 (design, materials testing, miscellaneous professional expenses) Cost of Debt Issuance $210,000 Total Project Cost $21,902,322 Conference Center For several years, Tarrant County College officials have been planning a multi-purpose facility designed to not only meet the needs of students in the fine arts, sciences and management—but likewise to use and make available to outside groups for short-term conferences and seminars. The Conference Center will include the following: • Auditorium 0 Catering Service Area • Exhibit Hall 0 Administrative Office • Training Rooms a Utility/Storage Areas • Tiered Meeting Room a Parking • Computer Demonstration Room 0 Marquee • Planetarium 0 Landscaping/Garden • Conference Rooms 9 Attachment 1 DETAIL DESCRIPTION AND COST OF PROJECTS cont. In addition to hosting "Fine Arts Performances and concerts, Town hall meetings and conference general sessions", TCC officials also foresee this facility serving as an "InfoMart West"—with computer hardware and software vendors renting space for display and use of their products and as a workforce development, teaching and training facility. The participation agreement calls for the college to build and operate the Conference Center. The TIRZ will reimburse the College District debt service for the project. The plan estimates the start of the project in fiscal year 2005. The reimbursement is projected over twenty years beginning in fiscal year 2006., Such a facility is expected to cost: Site improvements $1,800,000 (parking, signage, landscaping) Facility construction costs 6,333,279 Contingency, Fixtures & Furniture, Inflation Cost of Debt Issuance 80,000 Total Project Cost $8,213,279 Infrastructure The Town Center's commercial infrastructure includes water, sanitary sewer, drainage, streets, and public parking improvements—as well as internal spine roads and necessary traffic signals. These facilities will be located in rights of way, easements and other locations appropriate for their use. Such improvements will be scheduled in the phases or stages: Stage 1: $2,612,907 (September 2000 completion) Stage 2: 1,999,000 (September 2000 completion) Stage 3: 9,018,444 (March 2002 completion) Stage 4: 1,131,000 (September 2002 completion) Stage 5: 2,151,674 (March 2004 completion) Stage 6: 2,801,573 (September 2004 completion) Stage 7: 1,399,892 (March 2006 completion) Stage 8: 1,399,892 (March 2006 completion) Stage 9: 947,187 (March 2010 completion) Contingencies, Inflation 1,41.2,536 Total Project Cost: $24,874,105 1:0 Attachment 1 Proposed Tax Increment Reinvestment Zone No. 2 Project Summary Library at Town Center Estimated Cost of Project Plan: TIF Expenses Design & Construction of Library $10,216,111 (Includes Cost of Issuance) Recreation Center at Town Center Estimated Cost of Project Plan: TIF Expenses: Design & Construction of Recreation Center 21,902,322 (includes Cost of Issuance) TCC Northeast Conference Center Estimated Cost of Project Plan: TIF Expenses: Design & Construction of Center $ 8,213,279 (Includes Cost of Issuance) Town Center Infrastructure (excluding residential development) Estimated Cost of Project Plan: TIF Expenses: Design & Construction of Infrastructure $24,874.105 GRAND TOTAL: PLAN COST $65,205817 Attachment 1 REINVESTMENTCITY OF NORTH RICHLAND HILLS TAX INCREMENT SOURCES OF TAX INCREMENT' FUND REVENUES 12, Attachment 1 CITE' OF NORTH RICHLAND HILLS Tax Increment Reinvestment Zone No. 2 Source of Funds Sources of Funds Amount Certificates of Obligation 43,034,248 Developer Contributions $ 22,171,569 Other Sources $ - Total Sources of Funds $ 65,205,817 1 Attachment 1 CITY OF NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE NO. 2 FINANCE PLAN (ECONOMIC FEASIBILITY STUDY) PROJECTED TALC INCREMENT FUND CASH FLOWS 14 CITY OF NORTH RICHLAND HILLS Attachment 1 Tax Increment Reinvestment Zone No. 2 Estimated Tax Revenues Participation 100% 100% 51% 51% Total City of Totai Fiscal Captured NRH TCC TC Hospital(2) Tarrant Co.(2) Property Tax Year Valuation (1) $ 0.5700 $ 0.1064 $ 0,2341 $ 0.2648 Revenues 77M 2001 $ 12,620,987 $ 71,940 $ 13,430 $ 29,542 $ 33,425 $ 148,336 2002 $ 62,888,445 $ 358,464 $ 66,920 $ 147,203 $ 166,551 $ 739,138 2003 $ 93,808,805 $ 534,710 $ 99,822 $ 219,578 $ 248,439 $ 1,102,550 2004 $ 133,670,655 $ 761,923 $ 142,239 $ 312,883 $ 354,008 $ 1,571,053 2005 $ 179,985,905 $ 1,025,920 $ 191,523 $ 421,293 $ 476,667 $ 2,115,403 2006 $ 216,384,090 $ 1,233,389 $ 230,254 $ 506,490 $ 573,063 $ 2,543,197 2007 $ 258,666,185 $ 1,474,397 $ 275,247 $ 605,460 $ 685,041 $ 3,040,145 2008 $ 301,934,275 $ 1,721,025 $ 321,288 $ 706,738 $ 799,631 $ 3,548,682 2009 $ 343,951,625 $ 1,960,524 $ 365,999 $ 805,088 $ 910,908 $ 4,042,518 2010 $ 371,342,145 $ 2,116,650 $ 395,145 $ 869,201 $ 983,448 $ 4,364,444 2011 $ 386,293,400 $ 2,201,872 $ 411,055 $ 904,197 $ 1,023,044 $ 4,540,168 2012 $ 390,156,334 $ 2,223,891 $ 415,165 $ 913,239 $ 1,033,274 $ 4,585,570 2013 $ 394,057,897 $ 2,246,130 $ 419,317 $ 922,371 $ 1,043,607 $ 4,631,426 2014 $ 397,998,476 $ 2,268,591 $ 423,510 $ 931,595 $ 1,054,043 $ 4,677,740 2015 $ 401,9,78,461 $ 2,291,277 $ 427,745 $ 940,911 $ 1,064,584 $ 4,724,517 2016 $ 405,998,246 $ 2,314,190 $ 432,023 $ - $ - $ 2,746,213 2017 $ 410,058,228 $ 2,337,332 $ 436,343 $ - $ - $ 2,773,675 2018 $ 414,158,810 $ 2,360,705 $ 440,706 $ - $ - $ 2,801,412 2019 $ 418,300,399 $ 2,384,312 $ 445,113 $ - $ - $ 2,829,426 2020 $ 422,483,403 $ 2,408,155 $ 449,565 $ - $ - $ 2,857,720 2021 $ 426,708,237 $ 2,432,237 $ 454,060 $ - $ - $ 2,886,297 2022 $ 430,975,319 $ 2,456,559 $ 458,601 $ - $ - $ 2,915,160 2023 $ 435,285,072 $ 2,481,125 $ 463,187 $ - $ - $ 2,944,312 2024 $ 439,637,923 $ 2,505,936 $ 467,819 $ - $ - $ 2,973,755 2025 $ 444,034,302 $ 2,530,996 $ 472,497 $ - $ - $ 3,003,492 2026 $ 448,474,645 $ 2,556,305 $ 477,222 $ - $ - $ 3,033,527 2027 $ 452,959,392 $ 2,581,869 $ 481,994 $ - $ - $ 3,063,863 Totals $ 51,840,426 $ 9,677,789 $ 9,235,788 $ 10,449,734 $ 81,203,738 (1)Source ZimmermanNolk Associates and The Crossing for Years 2002 through 2011.2001 reflects preliminary increment values from TAD as of May 15,2000.Assumes 1%growth 2012 through 2027.The base value of real property within the Zone as of January 1, 1999,was$40,363,058 as appraised by Tarrant Appraisal District. Project Description Estimated Cost Pct of Total Infrastructure Improvements $ 24,874,105 38% Conference Center $ 8,213,279 13% Library $ 10,216,111 16% Recreation Ce n Iter/N atatoriurn - Z) 21,902,322 33% Total Project Costs $ 65,205,817 100% (2)Tarrant County and the Hospital District will participate to the extent of infrastructure Improvements and the construction of the Conference Center.These two projects constitute approximately 51 1/4 of the project plan. The plan calls for these entities participation to be 100%of ad valorem taxes generated until their proportion of these project costs is collected. it is anticipated that it will take approximately fifteen years. 15 CITY OF NORTH RICHLAND HILLS Attachment 1 Tax Increment Reinvestment Zone No. 2 Tax Increment Fund - Estimated Coverage Calculations Estimated Estimated Pledged interest Estimated Estimated Estimated 'Property Developerl Earnings on Total Projects Cart. Interest Surplus Cumulative Fiscal Tax NRH Construc. Estimated Debt Projects Cover. Earnings on Certificate Surplus Year Revenues(l) Contribution(2) Funds(3) Revenues Service(4) Cash(4) Ratio Surplus(3) Coverage Coverage 2000 $ 4,658,026 $ 4,658,026 $ 1,000,000 4.66 $ 3,658,026 $' 3,658,026 2001 S 148,336 $ 500,000 $ 125,384 $ 773,721 $ 528,338 $ 3,605,000 0.19 $ 164,611 $ (3,195,007) $ 463,019 2002 S 739,138 $ 10,865,995 S 189,524 $ 11,794,657 S 1,292,932 $ 8,480,000 1.21 $ 20,836 S 2,042,561 $ 2,505,580 2003 $ 1.102,550 $ 600,000 S 34,976 $ 1,737,526 $ 2,337,982 $ 900,000 0.54 $ 112,751 $ (1,387,706) $ 1,117,875 2004 $ 1,571,053 $ 5,603,113 $ 373 $ 7,174,539 S 2.337,982 $ 3,550,000 1.22 $ 50,304 $ 1,336,8611 S 2,454,735 2005 2,115,403 $ - S 136,555 $ 2,251,958 S 2,826,487 $ - 0.80 S 110,463 $ (464,066) $ 1,990,670 2006 2,543,197 $ 2,799,7134 $ 202,366 $ 5,545,347 $ 3,751,922 $ 2,799,784 0.85 $ 89,560 S (916,779) $ 1,073,891 2007 S 3,040,145 $ 2,198 S 3,042,343 $ 3,751,922 $ 200,000 0.77 $ 46,325 $ (861,254) $ 212,637 2008 S 3,548,682 $ - $ 3,548,682 S 3,751,922 $ - 0.95 $ 9,569 $ (193,671) $ 18,965 2009 S 4,042,518 $ - S $ 4,042,518 $ 3,751,922 $ 275,000 1.00 S 853 $ 16,450 S 35,415 2010 S 4,364,444 $ 947,187 S $ 5,311,6311 S 3,751,922 $ 1,361,785 1.04 $ 1,594 S 199,517 S 234,932 2011 S 4,540,168 $ - S $ 4,540,168 S 3,751,922 1.21 S 10,572 $ 798,818 $ 1,033,750 2012 S 4,585,570 $ - $ $ 4,585,570 $ 3,751,922 1.22 $ 46,519 S 880,167 $ 1,913,917 2013 $ 4,631,426 $ S $ 4,631,426 $ 3,751,922 1.23 $ 86,126 $ 965,630 $ 2,879,547 2014 $ 4,677,740 $ $ $ 4,677,740 S 3,751,922 1.25 $ 129,580 S 1,055,397 S 3,934,944 2015 S 4,724,517 $ $ $ 4,724,517 $ 3,751,922 1.26 $ 177,072 $ 1,149,668 S 5,084,612 2016 S 2,746,213 $ $ $ 2,746,213 S 3,751,922 0-73 $ 228,808 $ (776.902) S 4,307,710 2017 S 2,773,675 $ $ $ 2,773,675 S 3,751,922 0.74 $ 193,847 $ (784,400) $ 3,523,310 2018 S 2,801,412 $ $ S 2,801,412 S 3,751,922 0.75 $ 158,542 $ (791,961) $ 2,731,349 2019 $ 2,829,426 S $ S 2,829,426 $ 3,751,922 0.75 & 122,911 S (799,586) S 1,931,763 2020 S 2,857,720 S S $ 2,857,720 $ 3,751,922 0.76 S 86,929 S (807,273) $ 1,124,491 2021 S 2,886,297 S $ 2,886,297 S 3,223,584 0.90 $ 50,602 S (286,684) S 837,806 2022 $ 2,915,160 $ $ 2,915,160 S 2,458,990 1,19 S 37,701 $ 493,871 $ 1,331,678 2023 S 2,944,312 S $ 2,94-4,312 S 1,413,940 2.08 S 59,925 $ 1,590,298 $ 2,921,975 2024 $ 2,973,755 $ $ 2,973,755 S 1,413,940 2.10 S 131,489 S 1,691,304 S 4,613,279 2025 $ 3,003,492 S $ 3,003,492 S 925,435 3.25 $ 207,598 $ 2,285,655 $ 6,898,935 2026 S 3,033,527 $ $ 3,033,527 $ - NA $ 310,452 $ 3,343,979 $ 10,242,914 2027 S 3,063,863 $ $ 3,063,863 5 NA S 460,931 S 3,524,794 $ 13,767,708 Totals $81,203,738 $ 25,974,105 $ 691,376 $107,869,219 $75,038,439 S22,171,569 $ 3,108,498 $ 13,767,708 (1)Source Zimmerman/Volk AsSOCi2tsS and The Crossing for Years 2001 through 2011.Assumes 1%growth 2012 through 2027,The base value for real property in the Zone Was$40,363,058 on January 1, 1999,as appraised by Tarrant Appraisal District. (2)The City of North Richland hills anticipates making a contribution from Parks Development..sales tax of$500,000 in FY 2001 and$600,000 in FY2003. Developer contributions are based on anticipated completion of eligible infrastructure improvements. (3)Assumed 18 months straight-line construction of facilities.Interest earned on all cash balances assumed at 4.5%. (4)See Project Funding Worksheet page 117. 16 Attach n 1 CD co C) 0 Ln 0 (n 0 0 m 0 N C) A. cca v CD C) N lz� ",I, o CD lz� (D (D NC� Ct CCL Ci cf� � I C C� IQ 0 CD a U) (C = 0 m 0 co v UD 0 (C 0 cc m a 0 LO 0 C Ci r-� � cri cep Lr c1t UD co cn Ln m 0 cn 0 U�l r� m � cam. b'). 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Lo 0 < -j IrLp NOKTH KICHLAN HILLS TAX INCREMENT REINVESTMENT ZONE NUMBER 2 MEMORANDUM FROM: The Office of the City Manager DATE: January 24, 2022 SUBJECT: Receive a report regarding the project and financial status of North Richland Hills Tax Increment Reinvestment Zone Number 2, consider recommendations pertaining to the closure of the Zone, and recommend the North Richland Hills City Council take action to close the Zone. PRESENTER: Mark C. Mills, Director of Finance SUMMARY: Staff will make a presentation on the project and financial status of North Richland Hills Tax Increment Reinvestment Zone Number 2 ("TIF 2" or the "Zone"). At the conclusion of that presentation, the Board will be asked to consider recommendations pertaining to the closure of TIF 2 and asked to make a recommendation to the North Richland Hills City Council to take formal action to close TIF 2. GENERAL DESCRIPTION: Created in 1999, TIF 2 was to provide public improvements that would benefit the City of North Richland Hills ("NRH" or the "City), Tarrant County College ("TCC"), Tarrant County (the "County"), and Tarrant County Hospital District (the "Hospital"). Planned public improvements included a conference center, a recreation center, a library and infrastructure improvements in the Home Town NRH development. The District was created for twenty-eight years to provide for the retirement of planned debt issuance for financing the improvements. The City and TCC agreed to contribute 100% for the twenty-eight year term of the Zone. The County and Hospital agreed to participate up to a maximum fixed dollar amount. In 2020, both the County and the Hospital reached their maximum contributions. The $10.2 million NRH Public Library project was completed and opened in the spring of 2008. In the spring of 2012, the $21.9 million NRH Centre located adjacent to the Library began operations. In November 2015 the boundaries of TIF 2 were amended to include the NRH portion of the TCC northeast campus. The change included only tax-exempt property and was designed to allow TCC to use TIF 2 money for a visual, performing arts and technical teaching center on the campus ("Performing Arts Center'); originally included in the TIF 2 Project Plan as a Conference Center. In October 2021, staff made a presentation to the Board of Directors providing them information that TCC no longer intended to pursue a Performing Arts Center within the Zone. At the January 24, 2022 Board meeting, staff requested that the Board consider amendments to both the Zone's Project Plan and Finance Plan to remove the Performing Arts Center. With the removal of the Performing Arts Center, all projects associated with the Zone are now complete. IrLp NOKTH KICHLAN HILLS As a result, it is staffs recommendation to defease the outstanding debt associated with the Zone and close TIF 2. As of September 30, 2021, TIF 2 had total funds of $26,158,628.80. These funds are sufficient to cover all outstanding debt obligations of $9,775,512.26 and leave a remaining balance of $16,383,116.54. This balance includes the $8,213,279 previously designated for the Performing Arts Center. Full funding of TIF 2's obligations occurred after receipt of the 2020 payments from the participating entities. TIF 2 remained open while an alternative performing arts center project was considered by the Board, resulting in calendar year 2021 tax increment contributions by the participating entities. With the original Performing Arts Center project nor the alternative project being pursued and TIF 2 having achieved sufficient funding to cover its obligations in 2020, a two- step distribution methodology is recommended. The estimated final distribution, contingent upon the cost of defeasance and final interest income allocation, shall include: Current Balance $26,158,628.80 Less: February 2022 Debt Payment ($1,905,973.50) Less: Estimated Cost of Defeasance ($7,869,538.76) ($9,775,512.26) Estimated Allocation $16,383,116.54 The first step is to allocate the contributions received in 2021 back to each entity based on their 2021 contribution. This step is recommended since full funding of all obligations were achieved prior to 2021 and not all entities contributed in 2021. Funding received in 2021 equaled $3,914,656.05 with $3,146,530.45 coming from the City of NRH and $768,125.60 coming from TCC. 2021 % of 2021 2021 Entity Contributions Contributions Allocation NRH $3,146,530.45 80.38% $3,146,530.45 County $0.00 0.00% $0.00 College $768,125.60 19.62% $768,125.60 Hospital $0.00 0.00% $0.00 $3,914,656.05 100.00% $3,914,656.05 The second step will be to allocate all of the remaining funds not needed for debt obligations of TIF 2 back to each entity based on the entities contribution percentage of all funding received through 2020. The funding to be allocated in the second step is currently identified as $12,468,460.49. The estimated final distribution is contingent upon the cost of defeasance and final interest income allocation. IrLm NOKTH KICHLAN HILLS % Of Contributions Contributions Estimated Entity Thru 2020 Thru 2020 Allocation NRH $23,907,763.96 47.84% $5,964,911.50 County $10,449,734.00 20.91% $2,607,155.09 College $6,379,801.18 12.77% $1,592,222.40 Hospital $9,235,788.01 18.48% $2,304,171.50 $49,973,087.15 100.00% $12,468,460.49 It is staff's recommendation that the TIF 2 Board consider and approve the proposed recommendations and recommend that the North Richland Hills City Council take formal action to close North Richland Hills Tax Increment Reinvestment Zone Number 2. RECOMMENDATION: Approve recommendations pertaining to the closure of North Richland Hills Tax Increment Reinvestment Zone Number 2 and recommend the North Richland Hills City Council take action to close the Zone, including the disbursement of remaining funds. Attachment 1 Tarrant Countyti College District )00 Trinity°Campus Circle• Fort Worth.Texas 76102-1964 • 817-515-5201 OFFICE OF THE CHa\(TITOR October 18, 2021 Mark Hindman, City Manager City of North Richland Hills 4301 City Point Drive North Richland Hills,TX 76180-8316 Dear Mr. Hindman: Thank you for our recent discussions on the status of the North Richland Hills Tax Increment Reinvestment"Lone#2 ("the Zone").Tarrant County College notified you on February 15, 2021,that the College is no longer pursuing the Conference Center that was contemplated in the Project Plan and Finance Alan of the Zone.The Zone Board received that information at its October 11, 2021, meeting. Pursuant to this decision, it is appropriate for the Tarrant County College Participation Agreement be revised accordingly.The College has been participating at 100%since inception for the purpose of funding(i) Infrastructure Improvements, (ii)the Conference Center, (iii)the Municipal Library and (iv) the Recreational Center. All of the improvements have been completed with the exception of the Conference Center to be owned and operated by TCC, which is now moot.TCC has contributed the following amounts. ...................... Payment Year Amount ___.......................__...... ....__.........................................-- 2020-21 $ 7. .... 2019-20 $ 710,022.81 _................. ....._. ................................. 2018-19 $ 671,840.84 ....._...._...............� . 2017-18 $ 609,688.00 w .m ............................ 2016-17 $ 517,776.20 ............ ................� 2015-16 $ 453,674.18 �...._...__............. _... ..._ __.. 2014-15 $ 381,177.44 __ ....... _ ... .____..�.............._......... 2013-14 $ 354,993.94 ...........�... ____._................... _._.... _ _......._.... 2012-13 $ 359,395.35 2011-12 $ 342,498.53 _............._.. ................................�. 2010-11 ............................. _. _ 200 .......................................... .................. __, ... 2008-09 $ 332,549.63 2007-08 $ 257,232.58 2006-07 $ 207,875.38 Attachment 1 Payment Year Amount 2005 06 $ 167,793.61 ........ ._ .......—.—. 2004. ._........................ ...._.._............. 2003-04 $ 104,252.60 ............................._ ..................... 2002-03 $ 81,006.15 ...................................... .......................... ...................... 2001-02 $ 40,283.70 . 2000-01 $ 10,343.68 _.�.. _ ...._.............. Total $ 7,161,271.68 The current Participation Agreement states: "SECTION 3. CONDITIONS FOR COLLEGE DISTRICT'S PARTICIPATION. For the Conference Center and in consideration of the Tax Increment paid into the Tax Increment Fund by the College District, it is understood the Conference Center described in the Project Plan and Finance Plan is principally for the benefit of the college District; such Conference Center is to be constructed on property acquired and owned by the College District and the College District is to own, administer, operate and maintain such facility after its construction has been completed.The College District will have control of the interior design of the Conference Center,which shall serve primarily as a teaching facility and as a workforce development center. Based on the such facts and circumstances,the College District agrees to undertake and be responsible for the planning, development,financing construction and equipment of the Conference Center substantially in accordance with the costs perimeters [sic]approved in the Project Plan and Financing Plan. ..." The term of the agreement is set to be 28 years, and the contract is silent on early termination. However, due to completion of all of the planned improvements, it is appropriate at this time to modify the agreement to impose a cap on Tarrant County College's contributions since all of the viable portions of the Project Plan have been fulfilled.Tarrant County and the Tarrant County Hospital District met their capped obligations with their 2020 contributions at which time all obligations were met. Per the attached report provided by your Chief Financial Officer,the Fund currently has$26,158,628.80 on hand, including the contributions made by North Richland Hills and Tarrant County College in FY2021. At the time the 2021 contributions were made, funds on hand were already sufficient to defease all outstanding debt and provide the set-aside of$8,213,279.00 for the Conference Center, making the 2021 contributions by the City and TCC, and any thereafter, unnecessary.Therefore,TCC requests that its contributions be retroactively capped with the 2020 contributions and the 2021 contribution of $768,125.60 be refunded accordingly. This is an appropriate step while the Board reviews the unsolicited proposal for an alternative model for the originally planned Conference Center for Hometown. In any event,the engagement of another entity to construct and/or operate a Conference Center would require an amendment to the Project Plan and approval of each of the participating governing bodies. Alternatively, distribution on a pro rata basis of excess proceeds to the participating agency would be an appropriate option for the Zone Board and the NRH City Council. Attachment 1 Please let us know how you would like to proceed and if the Zone Board may consider this issue at their anticipated January meeting. I would be happy to discuss further and receive a proposed agreement in preparation for that meeting. Sincerely, y N � Eygene Qi6vannini, Ed.D. Chai1lor Attachment 1 North Richland Hills Tax Reinvestment Zone Number 2 ("TIF 2") AVAILABLE FUNDS Current Funds Available $26,158,628.80 Outstanding Obligations Outstanding Debt(Principal and Interest as of 10/01/2021) ($10,475,716.00) Performing Arts Center Designated Funds ($8,213,279.00) Total Outstanding Obligations ($18,688,995.00) Remaining Funds Available $7,469,633.80 PROJECTED DISTRIBUTIONS Entity Contribution Projected Projected Distribution of Remaining Funds Contribution Percent Distribution City of North Richland Hills ("NRH") $27,054,294.41 50.21% $3,750,503.14 Tarrant County("County")(') $10,449,734.00 19.39% $1,448,361.99 Tarrant County Hospital District ("Hospital')(2) $9,235,788.00 17.14% $1,280,295.23 Tarrant County College District("TCC") $7,147,926.78 13.26% $990,473.44 $53,887,743.19 100.00% $7,469,633.80 Entity Contribution Projected Performing Arts Center Designated Funds Distribution Contribution Percent Distribution NRH $27,054,294.41 50.21% $4,123,887.38 County $10,449,734.00 19.39% $1,592,554.80 Hospital $9,235,788.00 17.14% $1,407,756.02 TCC $7,147,926.78 13.26% $1,089,080.80 $53,887,743.19 100.00% $8,213,279.00 NOTES In 2020 (Tax Year 2019, Fiscal Year 2020), the County reached its contractually obligated maximum contribution of$10,449,734. (2) In 2020 (Tax Year 2019, Fiscal Year 2020), the Hospital reached its contractually obligated maximum contribution of$9,235,788. Attachment 1 North Richland Hills Tax Reinvestment Zone Number 2 ("TIF 2") (continued) AVAILABLE FUNDS (WITH NRH/TCC 2020 CONTRIBUTION CAP) Current Funds Available $26,158,628.80 less: NRH 2O21 Contribution ($3,146,530.45) less: TCC 2021 Contribution(2) ($768,125.60) Current Available Funds(Adjusted)(1)(2) $22,243,972.75 Outstanding Obligations Outstanding Debt(Principal and Interest as of 10/01/2021) ($10,475,716.00) Performing Arts Center Designated Funds ($8,213,279.00) Total Outstanding Obligations ($18,688,995.00) Remaining Funds Available $3,554,977.75 PROJECTED DISTRIBUTIONS Entity less: Adjusted Adjustment of Entity Contributions Contribution 2021 Contribution Contribution NRH(1) $27,054,294.41 ($3,146,530.45) $23,907,763.96 County $10,449,734.00 $0.00 $10,449,734.00 Hospital $9,235,788.00 $0.00 $9,235,788.00 TCC(2) $7,147,926.78 ($768,125.60) $6,379,801.18 $53,887,743.19 $3,914,656.05) $49,973,087.14 Adjusted Contribution Projected Projected Distribution of Remaining Funds Contribution Percent Distribution NRH(1) $23,907,763.96 47.84% $1,700,701.35 County $10,449,734.00 20.91% $743,345.85 Hospital $9,235,788.00 18.48% $656,959.89 TCC(2) $6,379,801.18 12.77% $453,970.66 $49,973,087.14 100.00% $3,554,977.75 Entity Contribution Projected Performing Arts Center Designated Funds Distribution Contribution Percent Distribution NRH(1) $23,907,763.96 47.84% $3,929,232.67 County $10,449,734.00 20.91% $1,717,396.64 Hospital $9,235,788.00 18.48% $1,517,813.96 TCC(2) $6,379,801.18 12.77% $1,048,835.73 $49,973,087.14 100.00% $8,213,279.00 NOTES NRH contributed $3,146,530.45 to TIF 2 in 2021. Had NRH and TCC (see Note 3 below)not contributed in 2021 the Current Available Funds would be$3,914,656.05 less, or$22,243,972.76. These funds would have been sufficient to cover TIF 2's outstanding obligations ($18,688,995), leaving $3,554,977.76 to be distributed among the participating entities. Establishing a maximum contribution for NRH and TCC at the total contribution through 2020(when the County and Hospital reached their maximum)and distributing the 2020 contribution back to those entities alters their total contributions and resulting distribution percentages. (2)TCC contributed $768,125.60 to TIF 2 in 2021. Had TCC and NRH (see Note 1 above) not contributed in 2021 the Current Available Funds would be$3,914,656.05 less, or$22,243,972.76. These funds would have been sufficient to cover TIF 2's outstanding obligations ($18,688,995), leaving $3,554,977.76 to be distributed among the participating entities. Establishing a maximum contribution for NRH and TCC at the total contribution through 2020(when the County and Hospital reached their maximum)and distributing the 2020 contribution back to those entities alters their total contributions and resulting distribution percentages. NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE NUMBER 2-ENTITY CONTRIBUTIONS TAX FISCAL YEAR YEAR NR COUNTY ,,,,,,,,,,,X�/%///// HOSPITAL TOTAL TY00 FY01 21,428.63 10,648.50 3,986.57 8,767.07 44,830.77 TY01 FY02 147,421.40 34,815.49 33,295.91 73,240.99 288,773.79 TY02 FY03 301,413.09 119,668.45 81,006.15 135,068.37 637,156.06 TY03 FY04 410,048.76 202,156.41 104,252.60 176,054.34 892,512.11 TY04 FY05 519,060.23 384,582.43 134,342.42 226,856.15 1,264,841.23 TY05 FY06 642,397.09 306,198.70 167,793.61 283,301.97 1,399,691.37 TY06 FY07 791,175.01 388,402.98 207,875.38 335,902.72 1,723,356.09 TY07 FY08 965,966.24 459,609.52 257,232.58 382,572.92 2,065,381.26 TY08 FY09 1,266,123.28 577,172.91 332,549.63 473,298.27 2,649,144.09 TY09 FY10 1,292,276.29 656,266.21 340,746.79 503,161.00 2,792,450.29 TY10 FY11 1,187,127.59 609,832.53 315,652.25 491,176.84 2,603,789.21 TY11 FY12 1,192,467.62 586,012.93 342,498.53 479,336.23 2,600,315.31 TY12 FY13 1,260,269.34 641,710.93 359,395.35 514,067.19 2,775,442.81 TY13 FY14 1,237,832.05 622,294.94 354,993.94 757,083.34 2,972,204.27 TY14 FY15 1,324,406.20 707,616.32 381,177.44 644,684.88 3,057,884.84 TY15 FY16 1,601,657.63 775,163.68 453,674.18 684,530.80 3,515,026.29 TY16 FY17 1,896,051.63 879,200.02 517,776.20 811,367.99 4,104,395.84 TY17 FY18 2,321,973.58 1,022,008.25 609,688.00 976,874.25 4,930,544.08 TY18 FY19 2,627,216.02 1,085,576.06 671,840.84 1,105,791.49 5,490,424.41 TY19 FY20 2,901,452.28 380,796.74 710,022.81 172,651.20 4,164,923.03 TY20 FY21 3,146,530.45 - 768,125.60 - 3,914,656.05 Total Contributions: 27,054,294.41 10,449,734.00 7,147,926.78 9,235,788.01 53,887,743.20 50.20% 19.39% 13.26% 17.14% 100.00% less:2021 Contribution: (3,146,530.45) - (768,125.60) - (3,914,656.05) Contributions through 2020: 23,907,763.96 10,449,734.00 6,379,801.18 9,235,788.01 49,973,087.15 47.84% 20.91% 12.77% 18.48% 100.00%