RZ Annual Report 2018

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

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

2

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

TABLE OF CONTENTS 4

Comparative Balance Sheet

5

Schedule of Revenues, Expenditures, and Changes in Fund Balance

6

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

7

Schedule of Capital Assets

8

Schedule of Outstanding Bonds

9

Schedule of Tax Increment Base and Current Captured Appraised Value

SUPPLEMENTAL SCHEDULES: 10

Financing Plan

15

Summary Financing Plan with Detailed Project Plan

17

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

-

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

-

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

-

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

$

4

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

-

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

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

200,000

-

200,000

-

-

250,000

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

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

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

4,150,000

-

4,020,000

130,000

Bond interest

1,616,351

1,616,351

-

1,753,740

(137,389)

179,452

179,452

-

-

2,016

2,025

9

1,473

543

5,947,819

5,947,828

9

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

910,440

-

-

910,440

(295,988)

(295,988)

-

-

(295,988)

23,565,000

23,565,000

-

-

23,565,000

24,179,452

24,179,452

-

-

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

5

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

6

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

7

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

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%

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

2,087,250

2035

2.47%

92.61%

-

-

-

-

-

2,090,500

2,090,500

2036

2.46%

95.07%

-

-

-

-

-

2,089,500

2,089,500

2037

2.46%

97.54%

-

-

-

-

-

2,089,250

2,089,250

2038

2.46%

100.00%

-

-

-

-

-

2,089,500

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

8

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

9

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

1

"Taxable Increment"

$

426,069,294

$

426,069,294

$

1

FUND BALANCE, Begin

$

20,539,894

$

20,539,894

$

2A

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

2B

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

3

Fund Balance Available for Appropriation

(2,090,750)

(2,090,750)

$

18,449,144

$

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

$

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

4

Tax Revenues

6

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

8

Interest Income

9

Interest Income-Bonds

25,185,270

-

-

-

(270,749)

(270,749)

(279,996)

(281,358)

250,000

267,210

-

240,000

240,000

240,000

30,000

10,000

10,000

10,000

-

-

-

300,000

300,000

-

-

-

-

-

1,170,000

805,198

364,802

550,000

914,802

-

-

-

-

-

36,000

58,315

-

36,000

36,000

36,000

36,000

36,000

36,000

36,000

(266,910)

18,049,958

18,049,958

18,666,380

18,757,218

19,365,806

19,603,429

(290,487)

20,083,870

(294,051)

(301,258)

10

Grant Funds

12

License Fee - Central Texas Railway

14

Other Revenues

106,600

49,982

-

1,250,000

1,250,000

-

-

-

-

-

15

Sale of land

600,000

625,396

-

-

-

-

-

-

-

-

17

Bond Proceeds

23,565,000

23,565,000

-

5,000,000

5,000,000

-

-

-

-

-

18

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

435,000

910,440

-

-

-

-

-

-

-

20

Total Sources of Funds

25

-

$

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

1,488,750

-

1,485,000

1,485,000

-

-

-

-

-

28

2008 Bond Issue-Taxable {$10.365 mil}

1,241,957

1,241,957

-

1,241,173

1,241,173

1,237,744

1,241,670

1,242,422

-

-

29

Debt Service - 2011A Issue {Refunding}

908,350

908,350

-

915,950

915,950

2,497,800

2,497,550

2,494,950

-

-

30

Debt Service - 2012 Issue {Refunding}

79,600

79,600

-

77,650

77,650

80,050

77,250

78,750

-

-

31

Debt Service - 2013 Issue {$25.260 mil}

2,047,694

2,047,694

-

2,048,344

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

1,439,967

1,336,000

1,287,000

1,305,000

2,086,750

2,089,000

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

-

-

-

396,584

396,584

395,590

399,690

398,200

461,415

460,500

2,025

2,016

-

3,200

3,200

3,200

3,200

3,200

2,000

2,000

5,768,376

6,243,807

-

7,607,868

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

175,000

175,000

175,000

175,000

1,300

1,300

1,300

1,300

1,300

1,300

1,300

1,400

1,400

1,400

-

720,000

720,000

420,000

420,000

420,000

420,000

420,000

35 40

Paying Agent Services Subtotal-Debt Service

OPERATING EXPENDITURES 50

Prof Svcs/Proj Mgmt

52

Legal/Audit

54

Zone Park Maintenance [mowing, utilities, botanical supplies]

330,000

330,000

56

Rail Maintenance

112,100

26,776

85,324

100,000

185,324

100,000

100,000

100,000

100,000

100,000

58

Road/Signage Maintenance

200,000

-

200,000

240,000

440,000

100,000

100,000

100,000

100,000

100,000

60

Contractual Payments [TEDC - Marketing]

200,000

200,000

-

200,000

200,000

200,000

200,000

200,000

200,000

200,000

62

TISD-Reimbursement [per contract]

27,563

-

-

27,563

27,563

27,563

28,941

28,941

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

1,025,341

1,026,788

65

Subtotal-Operating Expenditures

70

80

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

-

1,156,208

-

-

-

-

-

19,485,419

3,733,393

15,752,026

-

15,752,026

-

-

14,800,000

11,700,000

-

46,846

-

46,846

-

46,846

-

-

-

-

-

26,433,112

10,295,819

16,137,293

7,175,000

23,312,293

450,000

450,000

450,000

450,000

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

2,750,000

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

10

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

1

"Taxable Increment"

$

705,170,041

$

816,692,898

$

848,593,180

$

853,586,037

$

853,586,037

$

856,228,537

$

864,790,823

$

873,438,731

1

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

2A

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

-

-

-

-

-

-

-

2B

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

-

-

-

-

-

-

-

3

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

4

Tax Revenues

6

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

8

Interest Income

9

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

10,000

10,000

10,000

10,000

10,000

10,000

10,000

Interest Income-Bonds

-

-

-

-

-

-

-

-

10

Grant Funds

-

-

-

-

-

-

-

-

12

License Fee - Central Texas Railway

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

14

Other Revenues

-

-

-

-

-

-

-

-

15

Sale of land

-

-

-

-

-

-

-

-

17

Bond Proceeds

-

-

-

-

-

-

-

-

18

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

-

-

-

-

-

-

-

20

Total Sources of Funds

25

-

$

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

-

-

-

-

-

-

-

-

28

2008 Bond Issue-Taxable {$10.365 mil}

-

-

-

-

-

-

-

-

29

Debt Service - 2011A Issue {Refunding}

-

-

-

-

-

-

-

-

30

Debt Service - 2012 Issue {Refunding}

-

-

-

-

-

-

-

-

31

Debt Service - 2013 Issue {$25.260 mil}

2,038,413

2,051,613

2,059,113

2,061,713

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

2,000

2,000

2,000

2,000

2,000

2,000

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

175,000

175,000

175,000

175,000

175,000

175,000

175,000

1,400

1,400

1,400

1,400

1,400

1,400

1,400

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

52

Legal/Audit

54

Zone Park Maintenance [mowing, utilities, botanical supplies]

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

56

Rail Maintenance

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

58

Road/Signage Maintenance

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

60

Contractual Payments [TEDC - Marketing]

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

62

TISD-Reimbursement [per contract]

30,388

30,388

31,907

31,907

31,907

33,502

33,502

33,502

1,026,788

1,026,788

1,028,307

1,028,307

1,028,307

1,029,902

1,029,902

1,029,902

65

Subtotal-Operating Expenditures

70

80

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

450,000

450,000

450,000

450,000

450,000

450,000

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

16,500,000

17,000,000

18,000,000

18,000,000

Subtotal-Projects

14,700,000

17,700,000

17,450,000

16,950,000

16,950,000

17,450,000

18,450,000

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

11

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

1

"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

1

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

2A

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

-

-

-

-

-

2,090,750

-

-

-

2B

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

-

-

-

-

-

-

-

-

-

3

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

4

Tax Revenues

6

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

8

Interest Income

9

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

10,000

10,000

10,000

10,000

10,000

10,000

10,000

10,000

10,000

Interest Income-Bonds

-

-

-

-

-

-

-

-

-

-

10

Grant Funds

-

-

-

-

-

-

-

-

-

-

12

License Fee - Central Texas Railway

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

14

Other Revenues

-

-

-

-

-

-

-

-

-

-

15

Sale of land

-

-

-

-

-

-

-

-

-

-

17

Bond Proceeds

-

-

-

-

-

-

-

-

-

-

18

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

-

-

-

-

-

-

-

-

-

20

Total Sources of Funds

25

-

$

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

-

-

-

-

-

-

-

-

-

-

28

2008 Bond Issue-Taxable {$10.365 mil}

-

-

-

-

-

-

-

-

-

-

29

Debt Service - 2011A Issue {Refunding}

-

-

-

-

-

-

-

-

-

-

30

Debt Service - 2012 Issue {Refunding}

-

-

-

-

-

-

-

-

-

-

31

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

2,000

2,000

2,000

2,000

2,000

-

-

-

-

4,644,093

2,549,005

2,551,900

2,554,365

2,551,105

2,552,165

-

-

-

-

175,000

175,000

175,000

175,000

175,000

175,000

175,000

175,000

175,000

175,000

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

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

52

Legal/Audit

54

Zone Park Maintenance [mowing, utilities, botanical supplies]

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

56

Rail Maintenance

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

58

Road/Signage Maintenance

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

60

Contractual Payments [TEDC - Marketing]

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

62

TISD-Reimbursement [per contract]

35,177

35,177

35,177

36,936

36,936

36,936

38,783

38,783

38,783

40,722

1,031,577

1,031,577

1,031,577

1,033,336

1,033,336

1,033,336

1,035,183

1,035,183

1,035,183

1,037,122

65

Subtotal-Operating Expenditures

70

80

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

$

1,035,183

$

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

450,000

450,000

450,000

450,000

450,000

450,000

450,000

450,000

450,000

500 TMED

-

-

-

-

-

-

-

-

-

-

550 Airport Park

-

-

-

-

-

-

-

-

-

-

650 Gateway Projects

-

-

-

-

-

-

-

-

-

-

750 Public Improvements

18,000,000

20,000,000

20,000,000

20,000,000

22,000,000

22,000,000

25,000,000

24,000,000

24,000,000

25,000,000

Subtotal-Projects

18,450,000

20,450,000

20,450,000

20,450,000

22,450,000

22,450,000

25,450,000

24,450,000

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

$

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

12

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

1

"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

1

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

2A

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

-

-

-

-

-

-

-

-

-

2B

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

-

-

-

-

-

-

-

-

-

3

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

4

Tax Revenues

6

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

8

Interest Income

9

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

10,000

10,000

10,000

10,000

10,000

10,000

10,000

10,000

10,000

Interest Income-Bonds

-

-

-

-

-

-

-

-

-

-

10

Grant Funds

-

-

-

-

-

-

-

-

-

-

12

License Fee - Central Texas Railway

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

14

Other Revenues

-

-

-

-

-

-

-

-

-

-

15

Sale of land

-

-

-

-

-

-

-

-

-

-

17

Bond Proceeds

-

-

-

-

-

-

-

-

-

-

18

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

-

-

-

-

-

-

-

-

-

20

Total Sources of Funds

25

-

$

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

-

-

-

-

-

-

-

-

-

-

28

2008 Bond Issue-Taxable {$10.365 mil}

-

-

-

-

-

-

-

-

-

-

29

Debt Service - 2011A Issue {Refunding}

-

-

-

-

-

-

-

-

-

-

30

Debt Service - 2012 Issue {Refunding}

-

-

-

-

-

-

-

-

-

-

31

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

175,000

175,000

175,000

175,000

175,000

175,000

175,000

175,000

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

35 40

Paying Agent Services Subtotal-Debt Service

OPERATING EXPENDITURES 50

Prof Svcs/Proj Mgmt

52

Legal/Audit

54

Zone Park Maintenance [mowing, utilities, botanical supplies]

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

56

Rail Maintenance

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

58

Road/Signage Maintenance

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

60

Contractual Payments [TEDC - Marketing]

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

62

TISD-Reimbursement [per contract]

40,722

40,722

42,758

42,758

42,758

44,896

44,896

44,896

47,141

47,141

1,062,222

1,062,122

1,064,158

1,064,158

1,064,158

1,066,296

1,066,296

1,066,296

1,068,541

1,068,541

65

Subtotal-Operating Expenditures

70

80

TOTAL DEBT & OPERATING EXPENDITURES $

1,062,222

$

1,062,122

$

1,064,158

$

1,064,158

$

1,064,158

$

1,066,296

$

1,066,296

$

1,066,296

$

1,068,541

$

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

450,000

450,000

450,000

450,000

450,000

450,000

450,000

450,000

450,000

500 TMED

-

-

-

-

-

-

-

-

-

-

550 Airport Park

-

-

-

-

-

-

-

-

-

-

650 Gateway Projects

-

-

-

-

-

-

-

-

-

-

750 Public Improvements

20,500,000

21,000,000

21,000,000

21,500,000

21,500,000

21,500,000

21,500,000

22,500,000

22,000,000

22,000,000

Subtotal-Projects

20,950,000

21,450,000

21,450,000

21,950,000

21,950,000

21,950,000

21,950,000

22,950,000

22,450,000

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

$

23,014,158

$

23,016,296

$

23,016,296

$

24,016,296

$

23,518,541

$

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

13

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

1

"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

1

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

2A

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

-

-

-

-

-

-

-

-

-

2B

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

-

-

-

-

-

-

-

-

-

3

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

4

Tax Revenues

6

Allowance for Uncollected Taxes [1.5% of Tax Revenues]

8

Interest Income

9

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

10,000

10,000

10,000

10,000

10,000

10,000

10,000

10,000

10,000

Interest Income-Bonds

-

-

-

-

-

-

-

-

-

-

10

Grant Funds

-

-

-

-

-

-

-

-

-

-

12

License Fee - Central Texas Railway

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

36,000

14

Other Revenues

-

-

-

-

-

-

-

-

-

-

15

Sale of land

-

-

-

-

-

-

-

-

-

-

17

Bond Proceeds

-

-

-

-

-

-

-

-

-

-

18

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

-

-

-

-

-

-

-

-

-

20

Total Sources of Funds

25

-

$

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

-

-

-

-

-

-

-

-

-

-

28

2008 Bond Issue-Taxable {$10.365 mil}

-

-

-

-

-

-

-

-

-

-

29

Debt Service - 2011A Issue {Refunding}

-

-

-

-

-

-

-

-

-

-

30

Debt Service - 2012 Issue {Refunding}

-

-

-

-

-

-

-

-

-

-

31

Debt Service - 2013 Issue {$25.260 mil}

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

175,000

175,000

175,000

175,000

175,000

175,000

175,000

175,000

175,000

175,000

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

1,400

35 40

Paying Agent Services Subtotal-Debt Service

OPERATING EXPENDITURES 50

Prof Svcs/Proj Mgmt

52

Legal/Audit

54

Zone Park Maintenance [mowing, utilities, botanical supplies]

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

420,000

56

Rail Maintenance

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

58

Road/Signage Maintenance

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

100,000

60

Contractual Payments [TEDC - Marketing]

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

62

TISD-Reimbursement [per contract]

47,141

49,498

49,498

49,498

51,973

51,973

51,973

54,572

54,572

54,572

1,068,541

1,070,898

1,070,898

1,070,898

1,073,373

1,073,373

1,073,373

1,075,972

1,075,972

1,075,972

65

Subtotal-Operating Expenditures

70

80

TOTAL DEBT & OPERATING EXPENDITURES $

1,068,541

$

1,070,898

$

1,070,898

$

1,070,898

$

1,073,373

$

1,073,373

$

1,073,373

$

1,075,972

$

1,075,972

$

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

450,000

450,000

450,000

450,000

450,000

450,000

450,000

450,000

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

24,000,000

24,000,000

25,000,000

25,000,000

27,549,511

Subtotal-Projects

23,450,000

23,950,000

24,450,000

23,950,000

24,450,000

24,450,000

24,450,000

25,450,000

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

$

25,523,373

$

25,523,373

$

26,525,972

$

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

14

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

1

Beginning Available Fund Balance, Oct 1

$

20

Total Sources of Funds

51,329,968

51,466,811

2A

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

(2,090,750)

(2,090,750)

2B

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

25

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

176,300

176,400

176,400

176,400

176,400

54

Zone Park Maintenance [mowing, utilities, botanical supplies]

330,000

330,000

-

720,000

720,000

420,000

420,000

420,000

420,000

420,000

420,000

56

Rail Maintenance

112,100

26,776

85,324

100,000

185,324

100,000

100,000

100,000

100,000

100,000

100,000

58

Road/Signage Maintenance

200,000

-

200,000

240,000

440,000

100,000

100,000

100,000

100,000

100,000

100,000

60

Contractual Payments (TEDC - Marketing)

200,000

200,000

-

200,000

200,000

200,000

200,000

200,000

200,000

200,000

200,000

62

TISD-Reimbursement [per contract]

27,563

-

-

27,563

27,563

27,563

28,941

28,941

28,941

30,388

30,388

27

Debt Service - 2009 Issue {Refunding}

1,488,750

1,488,750

-

1,485,000

1,485,000

-

-

-

-

-

-

28

Debt Service - 2008 Taxable Issue {$10.365 mil}

1,241,957

1,241,957

-

1,241,173

1,241,173

1,237,744

1,241,670

1,242,422

-

-

-

29

Debt Service - 2011A Issue {Refunding}

908,350

908,350

-

915,950

915,950

2,497,800

2,497,550

2,494,950

-

-

-

30

Debt Service - 2012 Issue {Refunding}

79,600

79,600

-

77,650

77,650

80,050

77,250

78,750

-

-

-

31

Debt Service - 2013 Issue {$25.260 mil}

2,047,694

2,047,694

-

2,048,344

2,048,344

2,047,944

2,046,494

2,031,494

2,030,094

2,026,694

2,038,413

32

Issuance Costs

-

179,452

-

-

-

-

-

-

-

-

-

32

Bond Discount

-

295,988

-

-

-

-

-

-

-

-

-

32A

Debt Service - 2018 Issue {$24 mil}

-

-

-

1,439,967

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

35

Paying Agent Services

75

Total Debt & Operating Expenditures

80

Funds Available for Projects

$

-

-

-

396,584

396,584

395,590

399,690

398,200

461,415

460,500

2,025

2,016

-

3,200

3,200

3,200

3,200

3,200

2,000

2,000

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

21,920

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

2,500,000

2,500,000

-

-

-

-

-

-

103 Rail Backage Road (N-S) GST Tract

-

-

-

-

-

-

-

-

-

-

-

104 Overlay Industrial Blvd

650,000

-

650,000

-

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

-

182,422

-

-

-

-

-

-

-

-

-

250,000

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

-

1,156,208

-

-

-

-

-

-

250

3,191,551

2,035,343

1,156,208

-

1,156,208

-

-

-

-

-

-

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

1,925,000

1,131,928

793,072

-

793,072

-

-

-

-

-

-

305 Outer Loop (IH 35 to Wendland)

1,365,909

1,148,929

216,980

-

216,980

-

-

14,800,000

-

-

-

500,000

-

500,000

-

500,000

-

-

-

-

-

-

1,175,016

762,957

412,059

-

412,059

-

-

-

11,700,000

-

-

92,344

15,053

77,291

-

77,291

-

-

-

-

-

-

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

7,250,000

1,082

7,248,918

-

7,248,918

-

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

2,820,000

168,015

2,651,985

-

2,651,985

-

394,150

353,029

41,121

-

41,121

-

-

-

-

-

-

3,340,000

42,500

3,297,500

-

3,297,500

-

-

-

-

-

-

623,000

109,900

513,100

-

513,100

-

-

-

-

-

-

19,485,419

3,733,393

15,752,026

-

15,752,026

-

-

14,800,000

11,700,000

-

-

46,846

-

46,846

-

46,846

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

46,846

-

46,846

-

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

15

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

450,000

450,000

450,000

450,000

450,000

402

Downtown Electric Master Plan

62,740

-

62,740

-

62,740

-

-

-

-

-

-

403

Downtown Lighting

60,000

-

60,000

-

60,000

-

-

-

-

-

-

404

Santa Fe Plaza

7,450,977

2,729,451

4,721,526

-

4,721,526

-

-

-

-

-

-

404

Santa Fe Plaza {bond funded}

1,300,000

833,862

466,138

-

466,138

-

-

-

-

-

-

406

Downtown City Center/Hawn {bond funded}

2,050,000

-

2,050,000

-

2,050,000

-

-

-

-

-

-

406

Downtown City Center/Hawn

150,000

58,970

91,030

-

91,030

-

-

-

-

-

-

407

Santa Fe Market

3,594,084

1,090,833

2,503,251

-

2,503,251

-

-

-

-

-

-

408

MLK Festival Fields

-

-

-

-

-

-

-

-

-

-

-

409

TISD-Obligation per Contract

5,000,000

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

-

38,107

-

-

-

-

-

-

411

1st Street from Avenue A to Avenue B

1,275,000

-

1,275,000

-

1,275,000

-

-

-

-

-

-

412

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

1,380,000

-

1,380,000

-

1,380,000

-

-

-

-

-

-

413

1st Street Parking Garage {bond funded}

-

-

-

5,000,000

5,000,000

-

-

-

-

-

-

413

1st Street Parking Garage

-

-

-

1,450,000

1,450,000

-

-

-

-

-

-

414

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

2,740,000

-

2,740,000

-

2,740,000

-

-

-

-

-

-

415

Central/Adams Corridor Concept Design {bond funded}

325,000

-

325,000

-

325,000

-

-

-

-

-

-

416

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

-

-

-

-

-

-

-

-

-

-

-

417

3rd Street Corridor Enhancement

125,000

-

125,000

418

Strategic Investment Zone - Grants

450

Total Downtown

125,000

250,000

-

250,000

275,000

525,000

-

-

-

-

-

-

26,433,112

10,295,819

16,137,293

7,175,000

23,312,293

450,000

450,000

450,000

450,000

450,000

450,000

182,935

-

182,935

-

182,935

-

-

-

-

-

-

74,800

12,027

62,773

-

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

-

450,000

-

450,000

-

-

-

-

-

-

462

Ave U TMED Ave. to 1st Street

217,197

217,197

-

-

-

-

-

-

-

-

-

465

Friars Creek Trail Amphitheater

-

-

-

-

-

-

-

-

-

-

-

466

Veteran's Memorial Blvd. Phase II

269,602

-

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

-

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

950,000

-

-

-

-

-

-

1,687,013

1,580,412

-

-

-

-

-

-

-

-

511

-

Draughon-Miller Regional Airport FBO Center & Parking Visioning

119,000

118,860

140

-

140

-

-

-

-

-

-

512

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

440,000

-

440,000

-

440,000

-

-

-

-

-

-

513

Corporate Hangar Phase IV {RAMP grant funded}

100,000

83,260

16,740

-

16,740

-

-

-

-

-

-

513

Corporate Hangar Phase IV {bond funded}

132,000

126,180

5,820

-

5,820

-

-

-

-

-

-

514

Clear Area Near Fire Station

-

-

-

172,500

172,500

-

-

-

-

-

-

515

Repaint Tower

-

-

-

172,500

172,500

-

-

-

-

-

-

516

Demolition of Old Terminal Building

-

-

-

115,000

115,000

-

-

-

-

-

-

517

Fence Realignment & Gate

-

-

-

175,000

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

100,000

-

-

-

-

-

-

605

Adams & Central Avenue Bicycle & Pedestrian Improvements Design

-

-

-

155,000

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

2,000,000

2,000,000

5,000,000

1,000,000

1,500,000

14,000,000

14,250,000

702 Land Acquisition

-

-

-

750,000

750,000

-

-

-

-

-

-

703 750

-

-

-

2,750,000

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

16

ANNUAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2018

17

YEAR 2018

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