RZ Annual Report 2018 by City of Temple

2018 ANNUAL REPORT REINVESTMENT ZONE NO. 1 FOR THE YEAR ENDEDÂ SEPTEMBER 30, 2018

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

TABLE OF CONTENTS 4

Comparative Balance Sheet

Schedule of Revenues, Expenditures, and Changes in Fund Balance

Schedule of Appraised Taxable Value, Tax Levy, and Tax Collections

Schedule of Capital Assets

Schedule of Outstanding Bonds

Schedule of Tax Increment Base and Current Captured Appraised Value

SUPPLEMENTAL SCHEDULES: 10

Financing Plan

Summary Financing Plan with Detailed Project Plan

Boundary Map

CITY OF TEMPLE, TEXAS REINVESTMENT ZONE NO. 1 COMPARATIVE BALANCE SHEET September 30, 2018 and 2017 Increase 2018

2017

(Decrease)

ASSETS Current assets: Investments

15,232,680

17,749,389

(2,516,709)

Receivables (net of allowance for estimated uncollectible): Ad valorem taxes Accounts receivable Due from other governments Total current assets

4,082,251

210,110

3,872,141

639,023

4,167

634,856

510,923

20,464,877

17,963,666

2,501,211

Restricted assets: Reserve for debt service Bond proceeds Total restricted assets Total assets

2,091,351

25,002,882

4,274,886

20,727,996

27,094,233

4,274,886

22,819,347 $ 25,320,558

47,559,110

22,238,552

2,237,217

1,044,148

LIABILITIES AND FUND BALANCES Current liabilities: Vouchers and contracts payable

1,193,069

Retainage payable

157,598

348,520

(190,922)

Unearned revenues

98,696

210,110

(111,414)

2,493,511

1,602,778

890,733

Vouchers and contracts payable

821,457

73,937

747,520

Retainage payable

101,455

21,943

79,512

Total current liabilities Liabilities from restricted assets:

Total liabilities from restricted assets

922,912

95,880

827,032

3,416,423

1,698,658

1,717,765

Debt service

2,091,351

Construction

24,079,970

4,179,006

19,900,964

17,971,366

16,360,888

1,610,478

44,142,687 47,559,110

20,539,894 22,238,552

23,602,793 $ 25,320,558

Total liabilities

Fund Balance: Restricted for:

Committed to: Reinvestment Zone No. 1 Projects Total fund balance Total liabilities and fund balances

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

CITY OF TEMPLE, TEXAS REINVESTMENT ZONE #1 SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - ACTUAL AND BUDGET For the year ended September 30, 2018 (With comparative amounts for the year ended September 30, 2017) 2018

Actual

Budget

2017

Analytical

Variance

Increase

Favorable

(Decrease)

(Unfavorable)

Actual

Prior yr.

REVENUES: Taxes

$ 25,185,270

$ 25,167,368

17,902

$ 18,495,349

Interest

267,210

250,000

17,210

228,316

38,894

Leases

41,266

17,951

23,315

8,716

106,600

(97,884)

625,396

600,000

Miscellaneous reimbursements Proceeds on sale of land License and permits Grants Total revenues

6,689,921

2,221

6,495

25,396

625,396

22,315

58,315

36,000

83,483

(25,168)

805,198

1,170,000

(364,802)

50,000

755,198

26,991,371

27,329,968

(338,597)

18,877,320

8,114,051

EXPENDITURES: Administrative Professional

79,526

103,754

24,228

89,337

Other contracted services

330,000

316,093

13,907

Downtown non-capital improvements

324,810

497,051

172,241

307,888

16,922

Contractual obligation - TEDC

200,000

250,000

5,000,000

5,027,563

27,563

5,000,000

5,934,336

6,408,368

474,032

5,913,318

21,018

General Rail Spur Improvements

26,776

112,100

85,324

11,475

15,301

General Roadway Improvements

200,000

21,920

671,920

650,000

102,652

(80,732) (711,113)

Strategic Investment Zone - Grants Reimbursement to TISD Total administrative expenditures

(9,811)

Capital Improvements

Temple Industrial Park Corporate Campus Park

712,467

907,813

195,346

1,423,580

Bioscience Park/Crossroads Park

2,035,343

3,191,551

1,156,208

2,373,141

Outer Loop

3,733,393

19,485,419

15,752,026

937,393

Synergy Park

(337,798) 2,796,000

46,846

2,980

(2,980)

Downtown Improvements

4,971,009

20,686,061

15,715,052

5,555,735

(584,726)

TMED

2,045,825

3,084,084

1,038,259

3,629,089

(1,583,264)

Airport Improvements

1,908,712

2,478,013

569,301

451,500

230,430

1,772,000

1,541,570

230,430

15,685,875

52,635,807

36,949,932

14,487,545

1,198,330

Bond principal

4,150,000

4,020,000

130,000

Bond interest

1,616,351

1,753,740

(137,389)

179,452

2,016

2,025

1,473

543

5,947,819

5,947,828

5,775,213

172,606

27,568,030

64,992,003

37,423,973

26,176,076

1,391,954

(37,662,035)

37,085,376

(7,298,756)

6,722,097

Gateway Projects Total capital improvements

1,457,212

Debt Service

Bond issuance costs Fiscal agent fees Total debt service Total expenditures

179,452

Excess (deficiency) of revenues over expenditures

(576,659)

Other financing sources (uses): Original issue premium Bond discount Bond proceeds Total other financing sources

910,440

(295,988)

23,565,000

24,179,452

23,602,793

(13,482,583)

Excess (deficiency) of revenues and other financing sources over expenditures Fund balance, beginning of period Fund balance, end of period

20,539,894 $ 44,142,687

37,085,376

(7,298,756)

20,539,894

27,838,650

7,057,311

$ 37,085,376

$ 20,539,894

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

30,901,549 (7,298,756) $ 23,602,793

CITY OF TEMPLE, TEXAS REINVESTMENT ZONE NO. 1 SCHEDULE OF APPRAISED TAXABLE VALUE, TAX LEVY & TAX COLLECTIONS BY TAXING ENTITY For the Tax Year 2017/Fiscal Year Ending September 30, 2018 Appraised

Current

Delinquent

Total

of Total

Collected of

Tax Collections

Tax Collections (1)

Tax Collections

Collected

Current Levy

$13,531,400 3,066,413 1,928,397 932,763 249,707 65,195 21,668 1,418 19,796,961

$3,680,207 824,822 541,252 267,070 67,649 5,228 2,010 69 5,388,307

$17,211,607 3,891,235 2,469,649 1,199,833 317,356 70,423 23,678 1,487 25,185,268

Taxable Taxing Jurisdiction Temple ISD City of Temple Bell County Temple College District Bell County Road Fund Troy ISD Elm Creek Flood Control District Belton ISD

Value

Tax Levy

$ 840,604,889 472,687,974 477,932,975 475,552,738 846,455,352 4,519,976 75,006,095 85,549 $

$13,701,860 3,201,043 2,013,054 973,456 253,090 75,597 24,527 1,470 20,244,097

68.340% 15.450% 9.806% 4.764% 1.260% 0.280% 0.094% 0.006% 100.000%

98.756% 95.794% 95.795% 95.820% 98.663% 86.240% 88.343% 96.463% 97.791%

(1)

Delinquent tax collections include the amounts collected from Panda I and Panda II in the current year for amounts due from prior years. The delinquent amount collected from Panda I for FY 2016 and FY 2017 was $2,460,005. The delinquent amount collected from Panda II for FY 2016 and FY 2017 was $2,730,177 for a total of $5,190,182 collected.

Temple ISD - 68.340% City of Temple - 15.450% Bell County - 9.806%

Total Collections = $ 25,185,268

Temple College District - 4.764% Bell County Road Fund - 1.260% Troy ISD - 0.280%

Elm Creek Flood Control District - 0.094% Belton ISD - 0.006%

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

CITY OF TEMPLE, TEXAS REINVESTMENT ZONE NO. 1 SCHEDULE OF CAPITAL ASSETS For the year ending September 30, 2018 and 2017

Capital assets not being depreciated Land Construction in Progress Total capital assets not being depreciated

2018

2017

17,465,348 $ 27,528,761 44,994,109

14,862,649 $ 21,619,595 36,482,244

Increase (Decrease) 2,602,699 5,909,166 8,511,865

Capital assets being depreciated Buildings Machinery & Equipment Infrastructure {Streets/Rail/Downtown/Trails} Less accumulated depreciation Total capital assets being depreciated, net Total Reinvestment Zone No. 1 Capital Assets

2,566,834 42,559 78,771,483 (28,773,506) 52,607,370 $

97,601,479 $

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

860,885 42,559 73,293,977 (25,448,299) 48,749,122 85,231,366 $

1,705,949 5,477,506 (3,325,207) 3,858,248 12,370,113

CITY OF TEMPLE, TEXAS REINVESTMENT ZONE NO. 1 SCHEDULE OF OUTSTANDING BONDS (PRINCIPAL & INTEREST) - AS OF OCTOBER 1, 2018

Percent of Debt Retired Fiscal

Annual

Cumulative

TIRZ Revenue

General

Bonds, Taxable

General

Combo Tax &

TIRZ Revenue

Obligation Bonds Obligation Bonds Obligation Bonds Revenue Bonds

Series 2008

Series 2011A

Series 2012

{2003 CO}

{2008 CO}

{2003 CO}

Series 2013

Series 2018

Year

2019

8.50%

77,650 $

2,048,344 $

1,439,967 $

7,208,084

2020

8.49%

16.99%

1,237,744

2,497,800

80,050

2,047,944

1,336,000

7,199,538

2021

8.43%

25.43%

1,241,670

2,497,550

77,250

2,046,494

1,287,000

7,149,964

2022

8.44%

33.86%

1,242,422

2,494,950

78,750

2,031,494

1,305,000

7,152,616

2023

4.86%

38.72%

2,030,094

2,086,750

4,116,844

2024

4.85%

43.58%

2,026,694

2,089,000

4,115,694

2025

4.87%

48.44%

2,038,412

2,088,750

4,127,162

2026

4.88%

53.32%

2,051,612

2,086,000

4,137,612

2027

4.89%

58.22%

2,059,112

2,090,750

4,149,862

2028

4.89%

63.11%

2,061,712

2,087,500

4,149,212

2029

4.89%

68.01%

2,061,712

2,086,500

4,148,212

2030

4.90%

72.91%

2,069,112

2,087,500

4,156,612

2031

4.91%

77.82%

2,073,512

2,090,250

4,163,762

2032

4.92%

82.74%

2,084,912

2,089,500

4,174,412

2033

4.93%

87.68%

2,092,913

2,090,250

4,183,163

2034

2.46%

90.14%

2,087,250

2035

2.47%

92.61%

2,090,500

2036

2.46%

95.07%

2,089,500

2037

2.46%

97.54%

2,089,250

2038

2.46%

100.00%

2,089,500

Total:

Principal Outstanding

Series 2009

Bonds

1,241,173 $

1,485,000 $

915,950 $

Total

4,963,009 $

1,485,000 $

8,406,250 $

313,700 $

30,824,073 $

38,786,717 $

84,778,749

4,370,000 $

1,440,000 $

7,530,000 $

280,000 $

23,005,000 $

23,565,000 $

60,190,000

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

CITY OF TEMPLE, TEXAS REINVESTMENT ZONE NO. 1 - VALUES FOR BASE AND INCREMENT (CAPTURED APPRAISED VALUE) For the Tax Year 2017/FY 2018 As of 10/1/2017 ORIGINAL ZONE

Taxing Jurisdiction

Tax Increment Base

Temple ISD

Captured Appraised Value (1)

EXPANDED ZONE

TOTAL

Tax Increment Base

97,186,149 $ 840,604,889 $ 937,791,038 $

Captured Appraised Value - $

TOTAL

TOTAL -

Tax Increment Base $

Captured Appraised Value

TOTAL

97,186,149 $ 840,604,889 $ 937,791,038 $

Levy 13,701,860

City of Temple

97,765,552

437,067,056

534,832,608

267,979,786

35,620,918

303,600,704

365,745,338

472,687,974

838,433,312

3,201,043

Bell County

97,765,552

441,727,079

539,492,631

267,979,786

36,205,896

304,185,682

365,745,338

477,932,975

843,678,313

2,013,054

Temple College District

97,765,552

439,931,820

537,697,372

267,979,786

35,620,918

303,600,704

365,745,338

475,552,738

841,298,076

973,456

Bell County Road Fund

97,765,552

846,455,352

944,220,904

97,765,552

846,455,352

944,220,904

253,090

8,146,123

4,519,976

12,666,099

8,146,123

4,519,976

12,666,099

75,597

Elm Creek

28,984,337

75,006,095

103,990,432

28,984,337

75,006,095

103,990,432

24,527

Belton ISD

18,028

85,549

103,577

18,028

85,549

103,577

1,470

Troy ISD

(1)

Note: Captured Appraised Value for each taxing entity will vary based on exemptions allowed, participation in tax abatements and varying geographical boundaries.

DEFINITIONS: Original Zone - Includes Zone Boundaries as originally created in 1982 and expanded in 1999. Expanded Zone - TMED area as expanded in 2010. City of Temple - 11/04/10; Temple College - 01/24/11; Bell County - 12/03/12. Tax Increment Base - Total taxable value of all real property taxable by the unit and located in a reinvestment zone for the year in which the zone was designated. Captured Appraised Value - The captured appraised value of real property taxable by a taxing unit for a year is the total taxable value of all real property taxable by the unit and located in a reinvestment zone for that year less the tax increment base of the unit.

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

City of Temple, Texas

FINANCING PLAN

TIF Reinvestment Zone #1 Financing Plan

{A}

Financing Plan - 09/26/18 to Zone Board

{B}

Y/E 9/30/18 Year 36

DESCRIPTION

9/30/2018 Actual

{C}

{D}

{E}

FY 2018 Open

As Currently

Revised

Encumbrances & Adopted FY 2019 Carry Forwards Year 37

"Taxable Increment"

426,069,294

FUND BALANCE, Begin

20,539,894

Adjustments to Debt Service Reserve - Tax Increment Revenue Bonds, Series 2018

Adjustments to Debt Service Reserve - Tax Increment Taxable Revenue Bonds, Series 2019

Fund Balance Available for Appropriation

(2,090,750)

18,449,144

Page 1 of 5

Y/E 9/30/19 Year 37

Y/E 9/30/20 Year 38

Y/E 9/30/21 Year 39

Y/E 9/30/22 Year 40

2023 41

2024 42

440,490,768

476,512,570

490,884,618

550,321,106

580,783,262

630,209,684

4,966,561

42,051,937

5,088,464

3,618,657

8,132,422

2,424,383

2,524,161

4,966,561

42,051,937

5,088,464

3,618,657

8,132,422

2,424,383

2,524,161

SOURCES OF FUNDS: 25,434,278

Tax Revenues

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

Interest Income

Interest Income-Bonds

25,185,270

(270,749)

(279,996)

(281,358)

250,000

267,210

240,000

30,000

10,000

300,000

1,170,000

805,198

364,802

550,000

914,802

36,000

58,315

36,000

(266,910)

18,049,958

18,666,380

18,757,218

19,365,806

19,603,429

(290,487)

20,083,870

(294,051)

(301,258)

Grant Funds

License Fee - Central Texas Railway

Other Revenues

106,600

49,982

1,250,000

Sale of land

600,000

625,396

Bond Proceeds

23,565,000

5,000,000

Bond Reoffering Premium, Underwriter's Discount & Cost of Issuance

435,000

910,440

Total Sources of Funds

51,329,968

51,466,811

364,802

25,155,209

25,520,011

18,662,384

18,541,860

19,121,319

19,355,378

19,828,612

TOTAL AVAILABLE FOR APPROPRIATION $

69,779,112

69,915,955

364,802

30,121,770

67,571,948

23,750,848

22,160,517

27,253,740

21,779,761

22,352,773

USE OF FUNDS: DEBT SERVICE 27

2009 Bond Refunding

1,488,750

1,485,000

2008 Bond Issue-Taxable {$10.365 mil}

1,241,957

1,241,173

1,237,744

1,241,670

1,242,422

Debt Service - 2011A Issue {Refunding}

908,350

915,950

2,497,800

2,497,550

2,494,950

Debt Service - 2012 Issue {Refunding}

79,600

77,650

80,050

77,250

78,750

Debt Service - 2013 Issue {$25.260 mil}

2,047,694

2,048,344

2,047,944

2,046,494

2,031,494

2,030,094

2,026,694

32A Debt Service - 2018 Issue {$24 mil}

1,439,967

1,336,000

1,287,000

1,305,000

2,086,750

2,089,000

32B Debt Service - 2019 Issue {$5 mil}

396,584

395,590

399,690

398,200

461,415

460,500

2,025

2,016

3,200

2,000

5,768,376

6,243,807

7,607,868

7,598,328

7,552,854

7,554,016

4,580,259

4,578,194

102,454

78,226

2,965

175,000

179,265

175,000

1,300

1,400

720,000

420,000

35 40

Paying Agent Services Subtotal-Debt Service

OPERATING EXPENDITURES 50

Prof Svcs/Proj Mgmt

Legal/Audit

Zone Park Maintenance [mowing, utilities, botanical supplies]

330,000

Rail Maintenance

112,100

26,776

85,324

100,000

185,324

100,000

Road/Signage Maintenance

200,000

240,000

440,000

100,000

Contractual Payments [TEDC - Marketing]

200,000

TISD-Reimbursement [per contract]

27,563

28,941

30,388

973,417

636,302

289,589

1,463,863

1,753,452

1,023,863

1,025,241

1,025,341

1,026,788

Subtotal-Operating Expenditures

TOTAL DEBT & OPERATING EXPENDITURES $

6,741,793

6,880,109

289,589

9,071,731

9,361,320

8,622,191

8,578,095

8,579,357

5,605,600

5,604,982

63,037,319

63,035,846

75,213

21,050,039

58,210,628

15,128,657

13,582,422

18,674,383

16,174,161

16,747,791

Funds Available for Projects PROJECTS

150 Temple Industrial Park

671,920

21,920

650,000

2,500,000

3,150,000

200 Corporate Campus Park

907,813

712,467

182,422

250,000

432,422

3,191,551

2,035,343

1,156,208

19,485,419

3,733,393

15,752,026

14,800,000

11,700,000

46,846

26,433,112

10,295,819

16,137,293

7,175,000

23,312,293

450,000

500 TMED

3,084,084

2,045,825

1,038,099

300,000

1,338,099

4,500,000

550 Airport Park

2,478,013

1,908,712

462,700

1,585,000

2,047,700

650 Gateway Projects

1,772,000

230,430

1,541,570

1,595,000

3,136,570

4,560,000

750 Public Improvements

2,750,000

2,000,000

5,000,000

1,000,000

1,500,000

14,000,000

Subtotal-Projects

58,070,758

20,983,909

36,967,164

16,155,000

53,122,164

11,510,000

5,450,000

16,250,000

13,650,000

14,450,000

250 Bioscience Park/Crossroads Park 350 Outer Loop 400 Synergy Park 450 Downtown

TOTAL USE OF FUNDS 800 FUND BALANCE, End {Available for Appropriation}

64,812,551

27,864,018

4,966,561

42,051,937

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

37,256,753

25,226,731

62,483,484

20,132,191

14,028,095

24,829,357

19,255,600

20,054,982

(36,891,951) $

4,895,039

5,088,464

3,618,657

8,132,422

2,424,383

2,524,161

2,297,791

City of Temple, Texas

FINANCING PLAN

TIF Reinvestment Zone #1 Financing Plan

Page 2 of 5

Financing Plan - 09/26/18 to Zone Board 2025 43

DESCRIPTION

2026 44

2027 45

2028 46

2029 47

2030 48

2031 49

2032 50

"Taxable Increment"

705,170,041

816,692,898

848,593,180

853,586,037

856,228,537

864,790,823

873,438,731

FUND BALANCE, Begin

2,297,791

3,253,933

2,604,023

2,579,481

3,117,982

3,657,802

3,766,222

3,100,217

Adjustments to Debt Service Reserve - Tax Increment Revenue Bonds, Series 2018

Adjustments to Debt Service Reserve - Tax Increment Taxable Revenue Bonds, Series 2019

Fund Balance Available for Appropriation

2,297,791

3,253,933

2,604,023

2,579,481

3,117,982

3,657,802

3,766,222

3,100,217

SOURCES OF FUNDS: 21,548,313

Tax Revenues

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

Interest Income

22,977,047

(323,225)

23,369,084

(344,656)

23,433,879

(350,536)

23,434,757

(351,508)

23,514,203

(351,521)

23,749,229

(352,713)

23,986,604

(356,238)

(359,799)

10,000

Interest Income-Bonds

Grant Funds

License Fee - Central Texas Railway

36,000

Other Revenues

Sale of land

Bond Proceeds

Bond Reoffering Premium, Underwriter's Discount & Cost of Issuance

Total Sources of Funds

21,271,088

22,678,391

23,064,548

23,128,371

23,129,236

23,207,490

23,438,991

23,672,805

TOTAL AVAILABLE FOR APPROPRIATION $

23,568,879

25,932,324

25,668,571

25,707,852

26,247,217

26,865,292

27,205,212

26,773,022

USE OF FUNDS: DEBT SERVICE 27

2009 Bond Refunding

2008 Bond Issue-Taxable {$10.365 mil}

Debt Service - 2011A Issue {Refunding}

Debt Service - 2012 Issue {Refunding}

Debt Service - 2013 Issue {$25.260 mil}

2,038,413

2,051,613

2,059,113

2,061,713

2,069,113

2,073,513

2,084,913

2,088,750

2,086,000

2,090,750

2,087,500

2,086,500

2,087,500

2,090,250

2,089,500

458,995

461,900

458,920

460,350

460,895

460,555

459,330

462,220

2,000

4,588,158

4,601,513

4,610,783

4,611,563

4,611,108

4,619,168

4,625,093

4,638,633

175,000

1,400

32A Debt Service - 2018 Issue {$24 mil} 32B Debt Service - 2019 Issue {$5 mil} 35 40

Paying Agent Services Subtotal-Debt Service

OPERATING EXPENDITURES 50

Prof Svcs/Proj Mgmt

Legal/Audit

Zone Park Maintenance [mowing, utilities, botanical supplies]

420,000

Rail Maintenance

100,000

Road/Signage Maintenance

100,000

Contractual Payments [TEDC - Marketing]

200,000

TISD-Reimbursement [per contract]

30,388

31,907

33,502

1,026,788

1,028,307

1,029,902

Subtotal-Operating Expenditures

TOTAL DEBT & OPERATING EXPENDITURES $

5,614,946

5,628,301

5,639,090

5,639,870

5,639,415

5,649,070

5,654,995

5,668,535

17,953,933

20,304,023

20,029,481

20,067,982

20,607,802

21,216,222

21,550,217

21,104,487

Funds Available for Projects PROJECTS

150 Temple Industrial Park

200 Corporate Campus Park

250 Bioscience Park/Crossroads Park

350 Outer Loop

400 Synergy Park

450,000

500 TMED

550 Airport Park

650 Gateway Projects

750 Public Improvements

14,250,000

17,250,000

17,000,000

16,500,000

17,000,000

18,000,000

Subtotal-Projects

14,700,000

17,700,000

17,450,000

16,950,000

17,450,000

18,450,000

450 Downtown

TOTAL USE OF FUNDS 800 FUND BALANCE, End {Available for Appropriation}

20,314,946

23,328,301

23,089,090

22,589,870

22,589,415

23,099,070

24,104,995

24,118,535

3,253,933

2,604,023

2,579,481

3,117,982

3,657,802

3,766,222

3,100,217

2,654,487

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

City of Temple, Texas

FINANCING PLAN

TIF Reinvestment Zone #1 Financing Plan

Page 3 of 5

Financing Plan - 09/26/18 to Zone Board 2033 51

DESCRIPTION

2034 52

2035 53

2036 54

2037 55

2038 56

2039 57

2040 58

2041 59

2042 60

"Taxable Increment"

882,173,118

890,994,849

899,904,797

908,903,845

917,992,884

927,172,812

936,444,541

945,808,986

955,267,076

964,819,747

FUND BALANCE, Begin

2,654,487

2,437,776

2,554,667

2,909,563

3,503,544

2,346,527

3,527,399

2,418,520

2,562,830

2,962,859

Adjustments to Debt Service Reserve - Tax Increment Revenue Bonds, Series 2018

2,090,750

Adjustments to Debt Service Reserve - Tax Increment Taxable Revenue Bonds, Series 2019

Fund Balance Available for Appropriation

2,654,487

2,437,776

2,554,667

2,909,563

3,503,544

4,437,277

3,527,399

2,418,520

2,562,830

2,962,859

SOURCES OF FUNDS: 24,226,354

Tax Revenues

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

Interest Income

24,468,501

24,713,069

24,960,083

25,209,567

25,461,546

25,716,045

25,973,089

26,232,703

26,494,913

(363,395)

(367,028)

(370,696)

(374,401)

(378,144)

(381,923)

(385,741)

(389,596)

(393,491)

(397,424)

10,000

Interest Income-Bonds

Grant Funds

License Fee - Central Texas Railway

36,000

Other Revenues

Sale of land

Bond Proceeds

Bond Reoffering Premium, Underwriter's Discount & Cost of Issuance

Total Sources of Funds

23,908,959

24,147,473

24,388,373

24,631,682

24,877,423

25,125,623

25,376,304

25,629,493

25,885,212

26,143,489

TOTAL AVAILABLE FOR APPROPRIATION $

26,563,446

26,585,249

26,943,040

27,541,245

28,380,968

29,562,900

28,903,703

28,048,013

28,448,042

29,106,349

USE OF FUNDS: DEBT SERVICE 27

2009 Bond Refunding

2008 Bond Issue-Taxable {$10.365 mil}

Debt Service - 2011A Issue {Refunding}

Debt Service - 2012 Issue {Refunding}

Debt Service - 2013 Issue {$25.260 mil}

2,092,913

2,090,250

2,087,250

2,090,500

2,089,500

2,089,250

2,089,500

458,930

459,755

459,400

462,865

459,855

460,665

2,000

4,644,093

2,549,005

2,551,900

2,554,365

2,551,105

2,552,165

175,000

1,400

32A Debt Service - 2018 Issue {$24 mil} 32B Debt Service - 2019 Issue {$5 mil} 35 40

Paying Agent Services Subtotal-Debt Service

OPERATING EXPENDITURES 50

Prof Svcs/Proj Mgmt

Legal/Audit

Zone Park Maintenance [mowing, utilities, botanical supplies]

420,000

Rail Maintenance

100,000

Road/Signage Maintenance

100,000

Contractual Payments [TEDC - Marketing]

200,000

TISD-Reimbursement [per contract]

35,177

36,936

38,783

40,722

1,031,577

1,033,336

1,035,183

1,037,122

Subtotal-Operating Expenditures

TOTAL DEBT & OPERATING EXPENDITURES $

5,675,670

3,580,582

3,583,477

3,587,701

3,584,441

3,585,501

1,035,183

1,037,122

20,887,776

23,004,667

23,359,563

23,953,544

24,796,527

25,977,399

27,868,520

27,012,830

27,412,859

28,069,226

Funds Available for Projects PROJECTS

150 Temple Industrial Park

200 Corporate Campus Park

250 Bioscience Park/Crossroads Park

350 Outer Loop

400 Synergy Park

450,000

500 TMED

550 Airport Park

650 Gateway Projects

750 Public Improvements

18,000,000

20,000,000

22,000,000

25,000,000

24,000,000

25,000,000

Subtotal-Projects

18,450,000

20,450,000

22,450,000

25,450,000

24,450,000

25,450,000

450 Downtown

TOTAL USE OF FUNDS 800 FUND BALANCE, End {Available for Appropriation}

24,125,670

24,030,582

24,033,477

24,037,701

26,034,441

26,035,501

26,485,183

25,485,183

26,487,122

2,437,776

2,554,667

2,909,563

3,503,544

2,346,527

3,527,399

2,418,520

2,562,830

2,962,859

2,619,226

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

City of Temple, Texas

FINANCING PLAN

TIF Reinvestment Zone #1 Financing Plan

Page 4 of 5

Financing Plan - 09/26/18 to Zone Board 2043 61

DESCRIPTION

2044 62

2045 63

2046 64

2047 65

2048 66

2049 67

2050 68

2051 69

2052 70

"Taxable Increment"

974,467,944

984,212,624

994,054,750

1,003,995,297

1,014,035,250

1,024,175,603

1,034,417,359

1,044,761,532

1,055,209,148

1,065,761,239

FUND BALANCE, Begin

2,619,226

2,707,088

2,515,477

2,544,459

2,298,297

2,279,242

2,487,424

2,927,276

2,601,114

3,009,035

Adjustments to Debt Service Reserve - Tax Increment Revenue Bonds, Series 2018

Adjustments to Debt Service Reserve - Tax Increment Taxable Revenue Bonds, Series 2019

Fund Balance Available for Appropriation

2,619,226

2,707,088

2,515,477

2,544,459

2,298,297

2,279,242

2,487,424

2,927,276

2,601,114

3,009,035

SOURCES OF FUNDS: 22,389,933

Tax Revenues

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

Interest Income

22,613,716

22,839,736

23,068,017

23,298,581

23,531,450

23,766,648

24,004,197

24,244,123

24,486,447

(335,849)

(339,206)

(342,596)

(346,020)

(349,479)

(352,972)

(356,500)

(360,063)

(363,662)

(367,297)

10,000

Interest Income-Bonds

Grant Funds

License Fee - Central Texas Railway

36,000

Other Revenues

Sale of land

Bond Proceeds

Bond Reoffering Premium, Underwriter's Discount & Cost of Issuance

Total Sources of Funds

22,100,084

22,320,510

22,543,140

22,767,997

22,995,102

23,224,478

23,456,148

23,690,134

23,926,461

24,165,150

TOTAL AVAILABLE FOR APPROPRIATION $

24,719,310

25,027,599

25,058,617

25,312,455

25,293,400

25,503,720

25,943,572

26,617,410

26,527,575

27,174,185

USE OF FUNDS: DEBT SERVICE 27

2009 Bond Refunding

2008 Bond Issue-Taxable {$10.365 mil}

Debt Service - 2011A Issue {Refunding}

Debt Service - 2012 Issue {Refunding}

Debt Service - 2013 Issue {$25.260 mil}

32A Debt Service - 2018 Issue {$24 mil}

32B Debt Service - 2019 Issue {$5 mil}

175,100

175,000

1,400

35 40

Paying Agent Services Subtotal-Debt Service

OPERATING EXPENDITURES 50

Prof Svcs/Proj Mgmt

Legal/Audit

Zone Park Maintenance [mowing, utilities, botanical supplies]

420,000

Rail Maintenance

100,000

Road/Signage Maintenance

100,000

Contractual Payments [TEDC - Marketing]

200,000

TISD-Reimbursement [per contract]

40,722

42,758

44,896

47,141

1,062,222

1,062,122

1,064,158

1,066,296

1,068,541

Subtotal-Operating Expenditures

TOTAL DEBT & OPERATING EXPENDITURES $

1,062,222

1,062,122

1,064,158

1,066,296

1,068,541

23,657,088

23,965,477

23,994,459

24,248,297

24,229,242

24,437,424

24,877,276

25,551,114

25,459,035

26,105,644

Funds Available for Projects PROJECTS

150 Temple Industrial Park

200 Corporate Campus Park

250 Bioscience Park/Crossroads Park

350 Outer Loop

400 Synergy Park

450,000

500 TMED

550 Airport Park

650 Gateway Projects

750 Public Improvements

20,500,000

21,000,000

21,500,000

22,500,000

22,000,000

Subtotal-Projects

20,950,000

21,450,000

21,950,000

22,950,000

22,450,000

450 Downtown

TOTAL USE OF FUNDS 800 FUND BALANCE, End {Available for Appropriation}

22,012,222

22,512,122

22,514,158

23,014,158

23,016,296

24,016,296

23,518,541

2,707,088

2,515,477

2,544,459

2,298,297

2,279,242

2,487,424

2,927,276

2,601,114

3,009,035

3,655,644

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

City of Temple, Texas

FINANCING PLAN

TIF Reinvestment Zone #1 Financing Plan

Page 5 of 5

Financing Plan - 09/26/18 to Zone Board 2053 71

DESCRIPTION

2054 72

2055 73

2056 74

2057 75

2058 76

2059 77

2060 78

2061 79

2062 80

"Taxable Increment"

1,076,418,852

1,087,183,040

1,098,054,870

1,109,035,419

1,120,125,773

1,131,327,031

1,142,640,301

1,154,066,704

1,165,607,371

1,177,263,445

FUND BALANCE, Begin

3,655,644

3,543,330

3,172,146

2,546,885

2,670,005

2,541,515

2,666,399

3,047,191

2,683,851

2,581,563

Adjustments to Debt Service Reserve - Tax Increment Revenue Bonds, Series 2018

Adjustments to Debt Service Reserve - Tax Increment Taxable Revenue Bonds, Series 2019

Fund Balance Available for Appropriation

3,655,644

3,543,330

3,172,146

2,546,885

2,670,005

2,541,515

2,666,399

3,047,191

2,683,851

2,581,563

SOURCES OF FUNDS: 24,731,195

Tax Revenues

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

Interest Income

24,978,390

25,228,058

25,480,221

25,734,907

25,992,139

26,251,944

26,514,347

26,779,374

27,047,051

(370,968)

(374,676)

(378,421)

(382,203)

(386,024)

(389,882)

(393,779)

(397,715)

(401,691)

(405,706)

10,000

Interest Income-Bonds

Grant Funds

License Fee - Central Texas Railway

36,000

Other Revenues

Sale of land

Bond Proceeds

Bond Reoffering Premium, Underwriter's Discount & Cost of Issuance

Total Sources of Funds

24,406,227

24,649,714

24,895,637

25,144,018

25,394,883

25,648,257

25,904,165

26,162,632

26,423,683

26,687,345

TOTAL AVAILABLE FOR APPROPRIATION $

28,061,871

28,193,044

28,067,783

27,690,903

28,064,888

28,189,772

28,570,564

29,209,823

29,107,535

29,268,908

USE OF FUNDS: DEBT SERVICE 27

2009 Bond Refunding

2008 Bond Issue-Taxable {$10.365 mil}

Debt Service - 2011A Issue {Refunding}

Debt Service - 2012 Issue {Refunding}

Debt Service - 2013 Issue {$25.260 mil}

32A Debt Service - 2018 Issue {$24 mil}

32B Debt Service - 2019 Issue {$5 mil}

175,000

1,400

35 40

Paying Agent Services Subtotal-Debt Service

OPERATING EXPENDITURES 50

Prof Svcs/Proj Mgmt

Legal/Audit

Zone Park Maintenance [mowing, utilities, botanical supplies]

420,000

Rail Maintenance

100,000

Road/Signage Maintenance

100,000

Contractual Payments [TEDC - Marketing]

200,000

TISD-Reimbursement [per contract]

47,141

49,498

51,973

54,572

1,068,541

1,070,898

1,073,373

1,075,972

Subtotal-Operating Expenditures

TOTAL DEBT & OPERATING EXPENDITURES $

1,068,541

1,070,898

1,073,373

1,075,972

26,993,330

27,122,146

26,996,885

26,620,005

26,991,515

27,116,399

27,497,191

28,133,851

28,031,563

28,192,936

Funds Available for Projects PROJECTS

150 Temple Industrial Park

200 Corporate Campus Park

250 Bioscience Park/Crossroads Park

350 Outer Loop

400 Synergy Park

450,000

500 TMED

550 Airport Park

650 Gateway Projects

750 Public Improvements

23,000,000

23,500,000

24,000,000

23,500,000

24,000,000

25,000,000

27,549,511

Subtotal-Projects

23,450,000

23,950,000

24,450,000

23,950,000

24,450,000

25,450,000

27,999,511

450 Downtown

TOTAL USE OF FUNDS 800 FUND BALANCE, End {Available for Appropriation}

24,518,541

25,020,898

25,520,898

25,020,898

25,523,373

26,525,972

29,075,483

3,543,330

3,172,146

2,546,885

2,670,005

2,541,515

2,666,399

3,047,191

2,683,851

2,581,563

193,425

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

TIF Reinvestment Zone #1

Summary Financing Plan with Detailed Project Plan Project Plan - 09/26/18 - to Zone Board

{A}

{B}

{C}

{D}

{E}

2018 20,539,894

FY 2018 Actual $ 20,539,894

FY 2018 Open Encumbrances & Carry Forwards $ -

As Currently Adopted 2019 $ 4,966,561

364,802

25,155,209

25,520,011

18,662,384

18,541,860

19,121,319

19,355,378

19,828,612

21,271,088

SUMMARY FINANCING PLAN

Beginning Available Fund Balance, Oct 1

Total Sources of Funds

51,329,968

51,466,811

Adjustments to Debt Service Reserve - Tax Increment Revenue Bonds, Series 2018

(2,090,750)

Adjustments to Debt Service Reserve - Tax Increment Taxable Revenue Bonds, Series 2019

Net Available for Appropriation

50/52 General Administrative Expenditures

Revised 2019 42,051,937

2020 5,088,464

2021 3,618,657

2022 8,132,422

2023 2,424,383

2024 2,524,161

2025 2,297,791

69,779,112

69,915,955

364,802

30,121,770

67,571,948

23,750,848

22,160,517

27,253,740

21,779,761

22,352,773

23,568,879

103,754

79,526

4,265

176,300

180,565

176,300

176,400

Zone Park Maintenance [mowing, utilities, botanical supplies]

330,000

720,000

420,000

Rail Maintenance

112,100

26,776

85,324

100,000

185,324

100,000

Road/Signage Maintenance

200,000

240,000

440,000

100,000

Contractual Payments (TEDC - Marketing)

200,000

TISD-Reimbursement [per contract]

27,563

28,941

30,388

Debt Service - 2009 Issue {Refunding}

1,488,750

1,485,000

Debt Service - 2008 Taxable Issue {$10.365 mil}

1,241,957

1,241,173

1,237,744

1,241,670

1,242,422

Debt Service - 2011A Issue {Refunding}

908,350

915,950

2,497,800

2,497,550

2,494,950

Debt Service - 2012 Issue {Refunding}

79,600

77,650

80,050

77,250

78,750

Debt Service - 2013 Issue {$25.260 mil}

2,047,694

2,048,344

2,047,944

2,046,494

2,031,494

2,030,094

2,026,694

2,038,413

Issuance Costs

179,452

Bond Discount

295,988

32A

Debt Service - 2018 Issue {$24 mil}

1,439,967

1,336,000

1,287,000

1,305,000

2,086,750

2,089,000

2,088,750

32B

Debt Service - 2019 Issue {$5 mil}

458,995

Paying Agent Services

Total Debt & Operating Expenditures

Funds Available for Projects

396,584

395,590

399,690

398,200

461,415

460,500

2,025

2,016

3,200

2,000

6,741,793

6,880,109

289,589

9,071,731

9,361,320

8,622,191

8,578,095

8,579,357

5,605,600

5,604,982

5,614,946

63,037,319

63,035,846

75,213

21,050,039

58,210,628

15,128,657

13,582,422

18,674,383

16,174,161

16,747,791

17,953,933

PROJECT PLAN

2018

FY 2018 Open Encumbrances & Carry Forwards

FY 2018 Actual

As Currently Adopted 2019

Revised 2019

2020

2021

2022

2023

2024

2025

TEMPLE INDUSTRIAL PARK: 101 Receiving & Delivery {R&D} Tracks

21,920

101 Receiving & Delivery {R&D} Tracks {bond funded}

102 Rail Backage Road & Rail Improvements (E-W) GST Tract

2,500,000

103 Rail Backage Road (N-S) GST Tract

104 Overlay Industrial Blvd

650,000

150

671,920

21,920

650,000

2,500,000

3,150,000

155 Pepper Creek Trail Hwy 36 to McLane Parkway

157,813

144,889

156 Corporate Campus Land

750,000

567,578

182,422

250,000

907,813

712,467

182,422

250,000

432,422

207 Cross Roads Park @ Pepper Creek Trail

3,191,551

2,035,343

1,156,208

250

3,191,551

2,035,343

1,156,208

305 Outer Loop (IH 35 to Wendland) STAG grant {Little Elm Sewer}

1,925,000

1,131,928

793,072

305 Outer Loop (IH 35 to Wendland)

1,365,909

1,148,929

216,980

14,800,000

500,000

1,175,016

762,957

412,059

11,700,000

92,344

15,053

77,291

315 Outer Loop (McLane Pkwy to Central Point Pkwy) {bond funded}

7,250,000

1,082

7,248,918

316 Outer Loop Phase V (Poison Oak to Old Waco Road) {bond funded}

2,820,000

168,015

2,651,985

394,150

353,029

41,121

3,340,000

42,500

3,297,500

623,000

109,900

513,100

19,485,419

3,733,393

15,752,026

14,800,000

11,700,000

46,846

Total Industrial Park CORPORATE CAMPUS PARK:

157 Mixed Use Master Plan 200

Total Corporate Campus Park BIOSCIENCE PARK/CROSSROADS PARK: Total Bio-Science Park OUTER LOOP

305 Outer Loop (IH 35 to Wendland) {bond funded} 310 Outer Loop (Wendland to McLane Pkwy) 315 Outer Loop (McLane Pkwy to Central Point Pkwy)

320 Outer Loop Phase VI (Old Waco Road to I35 South) 320 Outer Loop Phase VI (Old Waco Road to I35 South) {bond funded} 321 East Outer Loop {bond funded} 350

Total Research Parkway SYNERGY PARK:

352 Entry Enhancement 354 Land 400

Total Synergy Park

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

TIF Reinvestment Zone #1

Summary Financing Plan with Detailed Project Plan Project Plan - 09/26/18 - to Zone Board

{A}

{B}

{C}

{D}

{E}

FY 2018 Actual

FY 2018 Open Encumbrances & Carry Forwards

As Currently Adopted 2019

Revised 2019

SUMMARY FINANCING PLAN

2018

2020

2021

2022

2023

2024

2025

DOWNTOWN: 401

Downtown Improvements {Transformation Team}

374,311

324,810

49,501

450,000

499,501

450,000

402

Downtown Electric Master Plan

62,740

403

Downtown Lighting

60,000

404

Santa Fe Plaza

7,450,977

2,729,451

4,721,526

404

Santa Fe Plaza {bond funded}

1,300,000

833,862

466,138

406

Downtown City Center/Hawn {bond funded}

2,050,000

406

Downtown City Center/Hawn

150,000

58,970

91,030

407

Santa Fe Market

3,594,084

1,090,833

2,503,251

408

MLK Festival Fields

409

TISD-Obligation per Contract

5,000,000

410

1st Street (Avenue B to Central Avenue) and Avenue A (North 3rd to South 2nd)

296,000

257,893

38,107

411

1st Street from Avenue A to Avenue B

1,275,000

412

1st Street from Avenue A to Central Avenue {bond funded}

1,380,000

413

1st Street Parking Garage {bond funded}

5,000,000

413

1st Street Parking Garage

1,450,000

414

Avenue C from Main Street to 24th Street {bond funded}

2,740,000

415

Central/Adams Corridor Concept Design {bond funded}

325,000

416

Santa Fe Plaza - Parking Enhancement - 11th to 9th {bond funded}

417

3rd Street Corridor Enhancement

125,000

418

Strategic Investment Zone - Grants

450

Total Downtown

125,000

250,000

275,000

525,000

26,433,112

10,295,819

16,137,293

7,175,000

23,312,293

450,000

182,935

74,800

12,027

62,773

TMED: 458

Loop 363 Frontage Rd (UPRR to 5th TIRZ portion)

459

31st Street/Loop 363 Improvements

460

31st Street (Loop 363 to Avenue M) and Avenue R (31st to 25th Street) Concept Design

130,000

129,840

461

31st Street Monumentation {bond funded}

450,000

462

Ave U TMED Ave. to 1st Street

217,197

465

Friars Creek Trail Amphitheater

466

Veteran's Memorial Blvd. Phase II

269,602

300,000

569,602

4,500,000

467

1st Street @ Temple College Pedestrian Bridge

468

TMED South 1st Street

1,759,550

1,686,761

72,789

3,084,084

2,045,825

1,038,099

300,000

1,338,099

4,500,000

500

Total TMED AIRPORT PARK:

507

Taxiway for Hangars

510

Corporate Hangar Phase III

950,000

1,687,013

1,580,412

511

Draughon-Miller Regional Airport FBO Center & Parking Visioning

119,000

118,860

140

512

Draughon-Miller Regional Airport FBO Center & Parking {bond funded}

440,000

513

Corporate Hangar Phase IV {RAMP grant funded}

100,000

83,260

16,740

513

Corporate Hangar Phase IV {bond funded}

132,000

126,180

5,820

514

Clear Area Near Fire Station

172,500

515

Repaint Tower

172,500

516

Demolition of Old Terminal Building

115,000

517

Fence Realignment & Gate

175,000

550

Total Airport Park

2,478,013

1,908,712

462,700

1,585,000

2,047,700

212,000 1,500,000 60,000

211,600 18,830 -

400 1,481,170 60,000

840,000 500,000

400 2,321,170 560,000

4,560,000 -

601 602 603

GATEWAY PROJECTS: North 31st Street (Nugent to Central) Concept Design North 31st Street (Nugent to Central) East/West IH 35 Gateway

604

Downtown Neighborhoods Overlay

100,000

605

Adams & Central Avenue Bicycle & Pedestrian Improvements Design

155,000

1,772,000

230,430

1,541,570

1,595,000

3,136,570

4,560,000

701 Public Improvements

2,000,000

5,000,000

1,000,000

1,500,000

14,000,000

14,250,000

702 Land Acquisition

750,000

703 750

2,750,000

2,000,000

5,000,000

1,000,000

1,500,000

14,000,000

14,250,000

58,070,758

20,983,909

36,967,164

16,155,000

53,122,164

11,510,000

5,450,000

16,250,000

13,650,000

14,450,000

14,700,000

650

Total Gateway Projects Public Improvements

Contingency {bond funded} Total Public Improvements Total Planned Project Expenditures

800

Available Fund Balance at Year End

Reserve for Debt Service - Tax Increment Revenue Bonds, Series 2018 Reserve for Debt Service - Tax Increment Taxable Revenue Bonds, Series 2019

Total Fund Balance at Year End

4,966,561

2,090,750 -

7,057,311

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

42,051,937

2,090,750 -

44,142,687

(36,891,951) $ -

(36,891,951) $

4,895,039

2,090,750 -

6,985,789

5,088,464

2,090,750 -

7,179,214

3,618,657

2,090,750 -

5,709,407

8,132,422

2,090,750 -

10,223,172

2,424,383

2,090,750 -

4,515,133

2,524,161

2,090,750 -

4,614,911

2,297,791

2,090,750 -

4,388,541

3,253,933 2,090,750 -

5,344,683

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

YEAR 2018

REINVESTMENT ZONE NO. 1 CITY OF TEMPLE 2 NORTH MAIN STREET TEMPLE, TEXAS 76501 254-298-5631