Agenda - City of Dallas

Sports Arena TIF District
Exhibit A - FY 2011 Annual Report
City of Dallas, Texas
Sports Arena Tax Increment Financing District
Reinvestment Zone Number Seven
As of September 30, 2011
Financial Status of the Zone
Section 311.016 of the Tax Increment Financing Act requires the following information
as part of the annual report on the status of the TIF District.
Information is contained in detail on the attached financial statements.
Amount and source of revenue in the tax increment fund established for the Zone:
$4,269 Interest Income
$6,182,595 Ad Valorem Taxes (Collected in FY'2010-11 based on 2010 Certified Tax Roll)
$6,186,864 Total Revenue
Amount and purpose of expenditures from the fund:
$37,933 Administrative Expense
$2,649,372 Interest Expense
$2,687,305 Total Expenditures
Below is the amount of Principal and Interest due on outstanding indebtedness at September 30, 2011:
Advance Accrued Total (P & I)
Developer Project Principal Interest Outstanding
Center Operating Company Houston Street Extension $21,241,017 $13,368,266 $34,609,283
Center Operating Company Woodall Rodgers Plaza $2,000,000 $1,520,751 $3,520,751
Total $23,241,017 $14,889,017 $38,130,034
Less: payments $19,846,053 $12,915,830 $32,761,883
Net Balance Outstanding $3,394,964 $1,973,187 $5,368,151
Tax increment base and current captured appraised value retained by the zone:
Taxable Base Year Est. Captured
Value 2011 1998 Value Value 2011**
City of Dallas $405,477,911 $16,423,773 $389,054,138
Dallas Independent School District $405,477,911 $16,423,773 $389,054,138
** Based on preliminary Taxable Values. Final values will be determined on February 01, 2012.
Captured appraised value by the municipality and other taxing units, the total amount of the tax
increment received, and any additional information necessary to demonstrate compliance with the
tax increment financing plan adopted by the governing body of the municipality:
A. Estimated tax increment shared by the municipality and other participating taxing jurisdictions:
Amount of
Assessment Estimated 2011
Taxing Jurisdiction Per $100 Increment***
City of Dallas 0.79700 $3,100,761
Dallas Independent School District 0.64517 $2,510,074
Dallas County 0.00000 $0
Dallas County Hospital District 0.00000 $0
Dallas County Community College District 0.00000 $0
Total for all Jurisdictions $1.44217 $5,610,836
*** Effective with tax year 2009, Dallas County and the Hospital District stopped participating in the
Sports Arena TIF.
B. The total estimated amount of tax increment to be billed for the 2011 tax year is $5,610,836. For the 2010 tax
year, increment in the amount of $6,182,595 was received.
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