Agenda - City of Dallas

Exhibit A - Cypress Waters TIF District
FY 2011 Annual Report
Pending TIF Items
The Cypress Waters TIF District is expected to review the following items during FY
2011-2012:
• FY 2011 Annual Report for the Cypress Waters TIF District
• Potential changes to TIF by-laws to reflect changes in board composition and
design review process
• A mixed income housing policy
Budget and Spending Status
Each TIF district, in the Project Plan and Reinvestment Zone Financing Plan,
establishes a budget for the public improvement expenditures necessary to support
private investment in the district. The Cypress Waters TIF District was established in
December 2010 and has not collected any TIF funds in FY 2011. No funds are expected
to be collected until the agricultural exemption is removed from the Phase I land in 2012
and a portion of the resulting rollback taxes paid to the fund in 2013.
The Cypress Waters budget and spending to date is shown below.
Cypress Waters TIF District
Projected Increment Revenues to Retire TIF Fund Obligations*
Category TIF Budget Allocated Balance
Public infrastructure improvements $146,736,068 $9,757,267 $136,978,801
Public safety improvements $11,313,895 $0 $11,313,895
Administration and implementation $2,065,585 $54,138 $2,011,447
Total project costs $160,115,548 $9,811,405 $150,304,143
*Budget shown above in current dollars, updated yearly; TIF Project Plan shows the budget in net present value.
Values above do not include interest payments.
**Administration and implementation for FY 2011 are included in the above allocation.
Cypress Waters TIF District
Project Plan Budget (NPV, 2008 dollars)
Category
Public infrastructure improvements: paving, streetscape, water/wastewater,
storm sewer, utility burial/relocation, and land acquisition
TIF Budget*
$58,198,583
Public safety $6,000,000
Administration and implementation $1,500,000
Total project costs $65,698,583
* As approved in the Final Project Plan and Reinvestment Zone Financing Plan.
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