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Grand Park South TIF District FY 2011 Annual Report Notes to Financials City of Dallas, Texas Grand Park South Tax Increment Financing District Notes to Financial Statements for the Year Ended September 30, 2011 1. The measurement focus used for the TIF Zone fund is a flow of financial resources. The financial statements are prepared using the modified accrual basis of accounting. Under the modified accrual basis of accounting, tax increment revenues and interest are recognized as revenue when they become both "measurable" and "available" to finance expenditures of the current period. Expenditures are recognized when the liability is incurred. 2. State statute requires that each taxing jurisdiction remit its ad valorem taxes to the Zone by May 1 of each year (remittance to occur no more than 90 days after taxes for the jurisdiction become delinquent). 3. The Zone's cash balances are invested in the City’s investment pool and include amounts in demand deposits as well as short-term investments. Pooled investments and short-term non-pooled investments are treated as cash equivalents. Investment income on the pooled investments is prorated monthly based upon the average daily cash balance in each fund. 4. The Zone's Financial Plan permits expenditures not to exceed $4,105,732 over the life of the TIF to reimburse the City for administrative costs. The Zone began reimbursing the General Fund for costs incurred through fiscal year 2008-09. Any future remittance for administrative expenses would come from excess cash as tax increment revenue increases as a result of increased assessed values. 17
KEY FOCUS AREA: Economic Vibrancy AGENDA ITEM # 22 AGENDA DATE: February 22, 2012 COUNCIL DISTRICT(S): 9, 10, 13, 14 DEPARTMENT: Office of Economic Development CMO: Ryan S. Evans, 670-3314 MAPSCO: SUBJECT 17 W; 26 D H V Y Z; 27 A-D F-H J K N P-U W; 36 C D ________________________________________________________________ A resolution accepting the FY 2011 Annual Report on the status of Tax Increment Financing Reinvestment Zone Number Fourteen, (Skillman Corridor TIF District), submitted by the Skillman Corridor TIF District's Board of Directors, and authorizing the City Manager to submit the annual report to the Chief Executive Officer of each taxing jurisdiction that levies taxes on real property in the District and the State Comptroller, as required by state law - Financing: No cost consideration to the City BACKGROUND State law (the Tax Increment Financing Act, Chapter 311 of the Tax Code) requires that the governing body of a city shall submit an annual report on the status of each reinvestment zone it has created to the Chief Executive Officer of each taxing unit that levies taxes on real property in the zone, as well as the State Comptroller. The City Council approved Ordinance No. 26148 on October 26, 2005, establishing Tax Increment Financing Reinvestment Zone Number Fourteen, (Skillman Corridor TIF District). On December 13, 2006, the City Council authorized the Project Plan and Reinvestment Zone Financing Plan for this District by Ordinance No. 26534, as amended. The Skillman Corridor TIF District's assessed tax value in 2011 was $412,987,631. This represents an increase of 22.9% ($77,030,320) over the assessed value of the base year (2005) value and an increase of 3% ($12,301,877) over the final value for the previous year. With the participation of the City, Dallas County and the Richardson Independent School District, this increase will result in the collection of approximately $653,489 total in incremental revenue for the Skillman Corridor TIF District for the 2011 tax year.
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FEBRUARY 22, 2012 CITY COUNCIL AGEN
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AGENDA CITY COUNCIL MEETING WEDNESD
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February 22, 2012 2 CONSENT AGENDA
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February 22, 2012 12 PUBLIC HEARING
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February 22, 2012 14 Tax Foreclosur
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AGENDA DATE February 22, 2012 ITEM
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BACKGROUND (Continued) As part of t
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BUSINESS INCLUSION AND DEVELOPMENT
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KEY FOCUS AREA: A Cleaner, Healthie
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ETHNIC COMPOSITION (Continued) JBa
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COUNCIL CHAMBER BE IT RESOLVED BY T
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BACKGROUND (Continued) This service
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BID INFORMATION The following bids
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COUNCIL CHAMBER BE IT RESOLVED BY T
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BACKGROUND (Continued) As part of t
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KEY FOCUS AREA: AGENDA ITEMS # 7,8
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BACKGROUND (Continued) The successf
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KEY FOCUS AREA: AGENDA ITEM # 9 Mak
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KEY FOCUS AREA: Economic Vibrancy A
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COUNCIL CHAMBER February 22, 2012 W
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Cityplace Area TIF District FY 2011
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Cityplace Area TIF District City of
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Oak Cliff Gateway TIF District FY 2
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Exhibit A - Cedars TIF District FY
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Exhibit A City Center TIF District
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Exhibit A Farmers Market TIF Distri
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Sports Arena TIF District Exhibit A
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Exhibit A - Design District TIF Dis
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Exhibit A Vickery Meadow TIF Distri
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PRIOR ACTION/REVIEW (COUNCIL, BOARD
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Exhibit - A Southwestern Medical TI
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Exhibit A Southwestern Medical TIF
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Exhibit A Downtown Connection TIF D
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Page 320 and 321: Exhibit A Downtown Connection TIF D
Page 330 and 331: PRIOR ACTION/REVIEW (COUNCIL, BOARD
Page 332 and 333: Deep Ellum TIF District FY 2011 Ann
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Exhibit A - Fort Worth Avenue TIF D
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Exhibit A - Davis Garden TIF Distri
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Exhibit A TOD TIF District FY 2011
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Exhibit A - TOD TIF District FY 201
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Exhibit - A Maple/Mockingbird TIF D
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Exhibit A Maple/Mockingbird TIF Dis
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Exhibit A Cypress Waters TIF Distri
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Exhibit A - Cypress Waters TIF Dist
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BACKGROUND (Continued) The City wil
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FISCAL INFORMATION 2005-06 Communit
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COUNCIL CHAMBER February 22, 2012 S
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Exhibit A City of Dallas Affordable
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BACKGROUND (continued) Per the Code
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KEY FOCUS AREA: AGENDA ITEM # 34 Ma
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KEY FOCUS AREA: AGENDA ITEM # 35 Be
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OWNER Denali Construction Services,
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Swiss Avenue Median Council Distric
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BACKGROUND (Continued) The selectio
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PRIOR ACTION/REVIEW (Council, Board
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Rogers-O'Brien Construction January
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KEY FOCUS AREA: AGENDA ITEM # 37 Ec
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TOTAL M/WBE PARTICIPATION This Acti
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KEY FOCUS AREA: AGENDA ITEM # 41 Pu
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MAPSC045H
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ETHNIC COMPOSITION HKS, Inc. Hispan
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TOTAL M/WBE PARTICIPATION This Acti
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[ Irving Boulevard at Sylvan Avenue
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[Mapsco 46P1
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SECTION 3. That the City Secretary
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MAPSC033B aMI 1:::::-
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ORDINANCE NO. __________________ An
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MAPS Attached. Agenda Date 02/22/20
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... .,/ '.: \ 1:7,200 Planned Devel
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~'... 1:15,000 Planned Development
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G-8 1:7,200 DATE: Apr1/25, 2011 Z10
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BACKGROUND (continued) The City Cou
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BACKGROUND (continued) The City Cou
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PRIOR ACTION (continued) On January
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eN 1:1,800 Ordina nee 24581
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® 1:6,000 VICINITY MAP W078·007 1
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1:1,800 Ordinance 27395
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® 1:10,800 DATE: September 10, 200
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® 1:7,200 DATE: May 14, 2009 VICIN
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® 1:4,800 VICINITY MAP Map no: Cas
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PRIOR ACTION/REVIEW (COUNCIL BOARDS
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BACKGROUND (Continued) Dallas Water
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s copyrightCl2006 MAPSCO.lnc. ~.Mi_
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COUNCIL CHAMBER February 22, 2012 A
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DRAINAGE EASEMENT J.W. Grandstaff A
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BACKGROUND (Continued) The current
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EXHIBIT A CERTIFICATE OF FORMATION
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Exhibit A The Corporation will have
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Exhibit A IN WITNESS WHEREOF, this
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EXHIBIT B BYLAWS OF CITY OF DALLAS
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Exhibit B Section 2.5. Special Meet
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Exhibit B ARTICLE IV PROVISION REGA
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BACKGROUND (Continued) The project
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NCTCOG Funded Infrastructure Improv
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BACKGROUND (Continued) Although the
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Z112-123(MW) BACKGROUND INFORMATION
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Z112-123(MW) LAND USE ELEMENT Goal
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Z112-123(MW) Sustainable Constructi
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Z112-123(MW) Partners/Principals/Of
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Z112-123(MW) Z112-123 CPC Recommend
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Z112-123(MW) 12
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Z112-123(MW) 14
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Z112-133(RB) BACKGROUND INFORMATION
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Z112-133(RB) CPC ACTION (January 19
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Z112-133(RB) RECOMMENDED CONDITIONS
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Z112-133(RB) 12. GENERAL REQUIREMEN
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Z112-133(RB) 10
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Z112-133(RB) 12
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Z112-133(RB) CPC RESPONSES 14
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Z112-133(RB) Vote Label Address Own
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HONORABLE MAYOR & CITY COUNCIL WEDN
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Z112-135(CH) Land Use: Site Zoning
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Z112-135(CH) Landscaping: Landscapi
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Z112-135(CH) CPC Action: January 19
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Z112-135(CH) PROPOSED SITE PLAN 9
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Z112-135(CH) Single-family & Office
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Z112-135(CH) 1/24/2012 Notification
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Z112-137(WE) BACKGROUND INFORMATION
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Z112-137(WE) The number of required
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Z112-137(WE) BOARD OF TRUSTEES RISD
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Z112-137(WE) (c) Except as provided
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Z112-137(WE) SEC. 51P-572.109. FENC
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Z112-137(WE) (8) circulation; (3) W
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Z112-137(WE) Aikin Elementary Schoo
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Z112-137(WE) existing fence from th
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Z112-137(WE) - ~ Aikin Elementary S
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Z112-137(WE) 1:3,600 ZONING AND LAN
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Z112-137(WE) Notification List ofPr
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Z112-137 (WE) Vote Label Address Ow
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Z112-137 (WE) Vote Label Address Ow
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HONORABLE MAYOR AND CITY COUNCIL WE
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Z112-118(WE) Land Use: Zoning Land
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Z112-118(WE) CPC Action (January 5,
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Z112-118(WE) Library Undeveloped Ge
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Z112-118(WE) CPC RESPONSES 9
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Z101-342(WE) BACKGROUND INFORMATION
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Z101-342(WE) will be designated sol
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Z101-342(WE) Conflict: 1 - M. Davis
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Z101-342(WE) Juan Gamez, 5307 Parry
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Z101-342(WE) BOARD OF TRUSTEES DISD
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Z101-342(WE) SEC. 51P- .105. DEVELO
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Z101-342(WE) (1) landscaping must b
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Z101-342(WE) traffic circulation; e
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Z101-342(WE) PROPOSED LANDSCAPE PLA
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Z101-342(WE) 1. Calculate the site
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Z101-342(WE) Staff Assistance To op
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Z101-342(WE) 24
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Z101-342(WE) CPC RESPONSES 26
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Z101-342(WE) Vote Label Address Own
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Z101-196(RB) Road, the applicant pr
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Z101-196(RB) Vacancy: 1 - District
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Z101-196(RB) Absent: 3 - R. Davis,
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Z101-196(RB) DEED RESTRICTIONS THE
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Z101-196(RB) 11
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Z101-335(RB) Policy 1.2.1 Use Visio
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Z101-335(RB) Second: Lavallaisaa Re
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Z101-335(RB) Notices: Area: 500 Mai
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Z101-335(RB) CPC RECOMMENDED CONDIT
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Z101-335(RB) SEC. 51P-XXX.108. YARD
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Z101-335(RB) the current traffic ma
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Z101-335(RB) (C) Detached videoboar
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Z101-335(RB) 17 Proposed Tract 1 De
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Z101-335(RB) Existing Conditions SU
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Z101-335(RB) 29
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Agenda - City of Dallas

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