HomeMy WebLinkAbout15-1472 09-08-2015 RESOLUTION NO. 15-1472
A RESOLUTION APPROVING THE FISCAL YEAR 2015-2016 SERVICE
AND ASSESSMENT PLAN FOR GLADE PARKS PUBLIC
IMPROVEMENT DISTRICT ("PID #1").
WHEREAS, pursuant to Chapter 372 of the Texas Local Government Code (the
"Act"), on December 14, 2010 the City Council of the City of Euless adopted Resolution
No. 10-1350 creating Glade Parks Public Improvement District ("PID #1"); and
WHEREAS, in accordance with Section 372.013 of the Act, the City Council
approved a service and assessment plan for PID #1; and
WHEREAS, as required by Section 372.013(b) of the Act, the service and
assessment plan shall be reviewed and updated annually.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EULESS, TEXAS, THAT:
Section 1.
The City Council of the City of Euless, in accordance with Chapter 372, Texas
Local Government Code, hereby approves the FY 2015-2016 Service and Assessment
Plan for Glade Parks Public Improvement District Number One, attached hereto as
"Exhibit A."
Section 2.
The City Council hereby finds that the statements set forth in the recitals of this
Resolution are true and correct, and such recitals are incorporated as part of this
Resolution.
Section 3.
This Resolution shall take effect immediately from and after its passage in
accordance with the Charter of the City of Euless, and it is accordingly so resolved.
APPROVED at a regular meeting of the Euless City Council on September 8,
2015 by a vote of 6 ayes, 0 nays, and 0 abstentions.
APPROVED: ATTEST:
aart
V2e
Lin in, Mayor Kim butter, TR-MC, City Secretary
EXHIBIT A
FY 2015/2016 - Service and Assessment Plan
Glade Parks Public Improvement District (PID#1)
City of Euless, Texas
1. Introduction
On December 14, 2010, the City Council of the City of Euless, Texas passed and
adopted Resolution No. 10-1350 (Appendix A) establishing the Glade Parks Public
Improvement District (PID#1).
2. Nature of the Improvements
The general nature of the improvements to be funded by the PID#1 over the next
five (5) years and beyond is the construction of public infrastructure, pedestrian
amenities and linkages and other improvements that are authorized by Chapter 372 of
the Texas Local Government Code.
3. Authorized Improvements
Estimated Costs
1) Construction of Rio Grand Boulevard $ 3,911,023
2) Construction of Rio Grande Bridge $ 1,016,065
3) Construction of Heritage Drive $ 231,767
4) SH — 121 improvements $ 1,297,164
5) Landscaping $ 517,029
6) Wetland mitigation $ 296,000
7) Construction of Brazos and remaining streets $ 3,494,309
8) Main Entrance and Median (Chisolm Trail) $ 587,247
9) Administrative & Financing Costs $ 750,000
Total Costs $12,100,604*
* does not include interest costs associated with financing the improvements.
4. Financing of Improvements
The Authorized Improvements will be funded through the issuance of certificates
of obligation by the City of Euless. While the PID#1 will not issue any debt, it will be
responsible for all of the costs associated with Authorized Improvements including
interest and financing costs (with the exception of TIRZ contributions as described
below). It is anticipated that the certificates of obligation will be issued in three separate
phases to pay for the Authorized Improvements on an as needed basis. The expected
debt issuance schedule is shown below.
Fiscal Year Total Debt
Phase 1 2011 $ 3,035,000
Phase 2 2015 $ 5,715,000
Resolution No. 15-1472, Page 2 of 13
Phase 3 2016 $ 3,350,000
Total Issuance $12,100,000
The detailed amortization of the Authorized Improvements is attached as Appendix B.
5. Assessment Plan
In addition to the use of PID#1 funds it is anticipated that Tax Increment
Reinvestment Zone Number Three, City of Euless, Texas — Glade Parks (the "TIRZ")
will contribute to the costs of the Authorized Improvements. As the TIRZ fund begins to
accrue revenue from the incremental increase in property values, the PID#1
assessment will be decreased by an amount equal to the total amount of revenue
received in the TIRZ fund annually. A more detailed description of the PID#1
assessment calculation methodology and the relationship between the PID#1 and the
TIRZ is described below.
PID#1 Assessment Calculation A - B = C
The PID#1 assessment will be calculated annually and be equal to the preceding fiscal
year's total debt service costs less any revenue collected by the TIRZ in the preceding
fiscal year. In the example above (A) represents total debt service (B) represents TIRZ
funds plus Penalties & Interest (C) represents total PID#1 assessment revenue. For a
concrete example, we will use the Fiscal Year 2017 estimated assessment. As of
FY2016, the Phase 1 through 3 of the debt is expected to be issued and the total debt
service payments (A) are estimated to equal $613,094 while the TIRZ Revenue plus
penalties and interest for FY2016 (B) is estimated to be $561,843.
PID#1 Assessment Calculation $613,094 — $561,843 = $51,251
Therefore PID#1 assessment would be set to a millage rate that provides revenue equal
to $51,251. To calculate the millage rate divide the PID#1 assessment revenue (C) by
the estimated taxable value of the PID#1 for FY2017 and multiply the resulting number
by 100 to find the tax rate per $100 value.
Millage Calculation ($51 ,251 / $126,983,990) * 100 = $0.04036
The annual assessment plan is attached as Appendix C.
6. Levy of Assessments
The assessment year shall be concurrent with the City's ad valorem tax year.
Assessment will be billed on October 1st or as soon thereafter as practicable and will be
considered delinquent if not paid by January 31St of the following year.
7. Assessment Roll
The Assessment Roll for the next five years is attached as Appendix D.
Resolution No. 15-1472, Page 3 of 13
•
Appendix A
RESOLUTION NO. 10-1350
A RESOLUTION CREATING, AUTHORIZING, AND
ESTABLISHING THE GLADE PARKS PUBLIC IMPROVEMENT
DISTRICT; AUTHORIZING ASSESSMENT METHOD AND
COLLECTION SERVICE THEREOF; AND PROVIDING FOR
PUBLICATION AND AN EFFECTIVE DATE.
Aa wWHEREAS, Chapter 372 of the Texas Local Government Code (the
rt..i J auiovv lul UIG tai UI pUUIll. IIIII.IIVYCIIICI IL UIJIIIUIS, t111U
WHEREAS, on October 4, 2010, owners of real property located near the
intersection of SH-121 and Cheek Sparger Road delivered to the City of Euless a
Petition (the "Petition") to establish the Glade Parks Public Improvement District
(the 'District") that is shown on the map attached hereto and made a part hereof
and labeled Exhibit A (the "PID Boundary"); and
WHEREAS, the Act states that the Petition is sufficient if signed by
owners of more than 50 percent of taxable real property, according to appraised
value, and either of the following: more than 50 percent of the area of all taxable
real property liable for assessment under the proposal, or more than 50 percent
of all record owners of property liable for assessment; and
WHEREAS, City staff has reviewed the Petition and determined that
owners of more than 50 percent of the appraised value of the taxable real
property liable for assessment, and owners of more than 50 percent of the area
of all taxable real property liable for assessment within the District have executed
the petition; and
WHEREAS, the Act further requires that prior to the adoption of the
resolution providing for the establishment of the Glade Parks Public Improvement
District to provide supplemental public improvements to be funded by
assessments on real property and real property improvements, the City Council
must hold a public hearing on the advisability of the improvements; the nature of
the improvement; the estimated cost of the improvement; the boundaries of the
public improvement district; the method of assessment; and the apportionment of
costs between the district and the municipality as a whole; and
WHEREAS, after providing notices required by Section 372.009 of the
Act, the City Council on November 23, 2010, conducted a public hearing on the
advisability of the improvements, and adjourned such public hearing.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF EULESS, TEXAS, THAT:
Resolution No. 15-1472, Page 4 of 13
Section 1. Pursuant to the requirements of the Act, the City Council,
after considering the Petition for the proposed District and the evidence and
testimony presented at the public hearing on November 23, 2010, hereby finds
and declares:
(a) Advisability of Improvements Proposed for the District. It is
advisable to create the District to provide the improvements described
in this Resolution.
(b) Nature of the Improvements. The general nature of the
improvements to be performed by the District is to construct public
infrastructure, produce pedestrian amenities and linkages and provide
other improvements that are authorized by the Act.
(c) Estimated Cost of the Improvements. The total estimated cost of
improvements provided by the District is approximately twelve million,
one hundred thousand, six hundred and four dollars ($12,100,604).
The estimated costs do not include any interest costs associated with
debt service. The District shall incur no bonded indebtedness, but will
be responsible for indebtedness, including principal, interest and other
financing costs, incurred by the City of Euless to finance improvements
that are listed as Authorized Improvements attached hereto and made
a part here of and labeled Exhibit B (the "Authorized Improvements").
(d) Boundaries. The District is located wholly within the City of Euless,
Texas. The boundaries of the District are shown on the map of the
District (Exhibit A).
(e) Method of Assessment. The method of assessment is based on
a variable assessment rate on the value of property in the Public
Improvement District (PID) equal to the annual debt service costs
incurred by the City of Euless to fund Authorized Improvements within
the PID less any available incremental tax revenue generated from
City of Euless Tax Increment Reinvestment Zone Number Three. The
Service Plan will reflect the District's intention to reduce the annual
assessment rate proportional to the annual incremental revenue
received from City of Euless Tax Increment Reinvestment Zone
Number Three.
(f) Apportionment of Cost Between District and Municipality. All of
the costs of the Authorized Improvements will be paid from the
assessments or available incremental tax revenue generated from the
City of Euless Tax Increment Reinvestment Zone Number Three and
from other sources of funds, if any, available to the Owner. The City
will at no time be responsible to fund the costs of the Authorized
Improvements with any revenue other than paid from the assessments
Resolution No. 10-1350 Page 2 of 7
Resolution No. 15-1472, Page 5 of 13
or that which is available in the City of Euless Tax Increment
Reinvestment Zone Number Three.
The City of Euless is not responsible for payment of assessments
against exempt City property in the District, which is specially
benefited. Property owned by tax-exempt religious organizations will
be exempt from assessment, as will property owned by persons
receiving and qualifying for 65-or-older homestead exemption under
Section 11.13 (c) or (d) of the Texas Property Tax Code. Payment of
aaacaaI iici it uy uu lc CACI 111.11. Jul IauIt,uUI is I t Iuat uc cJLdUII I ICU Uy
contract. No such contracts are in place, nor are any proposed. City
rights-of-way and city parks are not subject to assessment. Properties
otherwise exempt from ad valorem taxes are not subject to
assessment.
(g) Assessment Roil and Setting of Rate. The City Manager shall
annually prepare an assessment roll and file that roll with the City
Secretary, in conformity with the exemptions from assessment
established under subparagraph (f) above. The annual assessment
installment for each year shall equal the City of Euless annual debt
service for Authorized Improvements constructed under subparagraph
(b) above less any available incremental tax revenue generated from
City of Euless Tax Increment Reinvestment Zone Number Three.
(h) The findings set forth in the preamble of this Resolution are hereby
found to be true and correct.
Section 2. The Glade Parks Public Improvement District is hereby
authorized and established as a Public Improvement District under the Act in
accordance with the findings as to the advisability of the improvements contained
in this Resolution. The District shall be subject to all of the terms, conditions,
limitations and reservations contained in the findings of Section 1 of this
Resolution.
Section 3. The City Secretary is directed to give notice of the
authorization for the establishment of the District by publishing the caption of this
Resolution once in the newspaper of general circulation in the City of Euless.
Such authorization shall take effect and the District shall be deemed to be
established effective upon the publication of such notice. The District shall
automatically dissolve on December 31, 2035 unless the District is renewed
through the petition and approval process as provided by the Act or the District is
sooner terminated as provided by law. The power of the City to continue to levy
and collect assessments within the District will cease and the District will be
dissolved upon the date that all indebtedness incurred by the City of Euless to
finance the Authorized Improvements has been liquidated and a petition
requesting dissolution is filed with the City Secretary of the City of Euless and the
Resolution No. 10-1350 Page 3 of 7
Resolution No. 15-1472, Page 6 of 13
petition contains the signatures of at least enough property owners in the District
to make the petition sufficient for creation of a public improvement district as
provided in Section 372.005(b) of the Act.
Section 4. The City Secretary will provide assessment collection
services for collection of the special assessments.
Section 5. This Resolution shall take effect immediately from and after
its passage in accordance with the Charter of the City of Euless and upon
publication, and it is accordingly so resolved.
APPROVED at a regular meeting of the Euless City Council on the 14th
day of December 2010 by a vote of 7 ayes, 0 nays, and 0 abstentions.
APPROVED: ATTEST:
//IA
ia:Viik._} /
Mary Lib daleh, Mayor Susan Crim, RMC, City Secretary
Resolution No. 10-1350 Page 4 of 7
Resolution No. 15-1472, Page 7 of 13
Exhibit A
i� 1914 ;IV I
1 e* TE-,I1cstL.:�.:'r __ i iz : 1
Legend 1 =; - `1�' it 1 - MI '- • :) a 3 4►; >i
f �,I,L1 - • --. I '',. -.•---•... >�
MD Boundary _ •�ii11.y) f 1 j1. . , c '
.- _ ALJ s..-- a. u �_ j,�C le i z-
1
E. •Eaie. ;z .-----o -' -i f II II! -
�L � •
f
•QUEENSBURYI - * Y R r
t _ -
- z
ginfreg
_ -0 _ L`' r _..- 1
H 1'nKT t e i
G70SL,cliEf s .R ' _ ![ �• •.0
9 •
oo
� •
W, .))4,1,
_,
ili
fai4� SORr. ti 1E 3
ill 1 •.,
Fief' 11 a
i.
.1k
-4 1
IK /40,..,1
tr,
it
-_'
i
1FJ1 � f
Y 7 i+
—' j'i - . .!='•/ :/ : • ;...tii :4 : Lj'
J 'i` � A j
Nei13. l I_ , . i r j * ''.; . � : a
ii a
''' i .."''''''
• .. ,.
' ! '-:- .. - ..
,. . ir . n,.. .
f
PARKVIEW. 7111111114Wz.
_ / _
idigovi,..--.1.1.-- - .
, . r4vAlocel-,,,- Egg
t 9 ,
ti +
Resolution No. 10-1350 Page 5 of 7
Exhibit A
^• s :!�
Legend �:G
IIINi Pf0 Boundary ;
g
"
Alit _ ',," 4"""fr"—•fft 0!
c
s : -
t
` i • i I
' ] 1 1 7 *
..771 41," 4 i
t
i • i ,14, *rat- ,,..
m.#,,wq I
L. _ c.= k.
- Y i, to _.
ilit
it #
T
i
Resolution No. 10-1350 Page 5 of 7
Resolution No. 15-1472, Page 8 of 13 1
•
Exhibit A
Beginning at the point of intersection of the west right-of-way (ROW) line of State
Highway 121 and the north ROW line of Cheek Sparger Road, thence
Westward to a point where said line intersects with the western property line of
Bbb & C RY Survey Abstract 204 Tracts 5 & 5e, thence
Northward along the west property of line Bbb & C RY Survey Abstract 204
Tracts 5 & 5e to a point where said line intersects with the western property line
of Doss, Jesse Survey abstract 441 Tract 6B, thence
Northward along the west property line of Doss, Jesse Survey abstract 441 Tract
6B to a point where said line intersects with the western property line of Doss,
Jesse Survey abstract 441 Tract 6B1, thence
Northward along the western property line of Doss, Jesse Survey abstract 441
Tract 6B1 to a point where said line intersects with the southern property line of
the Doss, Jesse Survey Abstract 441 tract 3c, thence
West along the southern property line of the Doss, Jesse Survey Abstract 441
tract 3c to a point where said line intersects with the western property line of the
Doss, Jesse Survey Abstract 441 tract 3c, thence
North along the western property line of the Doss, Jesse Survey Abstract 441
tract 3c to a point where said line intersects with the southern property line of
Doss, Jesse Survey Abstract 441 Tract 5, thence
West along the southern property line of Doss, Jesse Survey Abstract 441 Tract
5 to a point where said property line intersects with the eastern ROW line of
Heritage Avenue, thence
Northward along the eastern ROW line of Heritage Avenue to a point where said
line intersects with the northern property line of Havins, John H Survey, Abstract
685 Tract 2A, thance
Eastward along the northern property line of Havins, John H Survey, Abstract
685 Tract 2A to a point where said line intersects with the western ROW line of
State Highway 121, thence
Southward along the western ROW line of State Highway 121 to a point where
said line intersects with the northern ROW line of , Cheek Sparger Road, which is
the point of beginning
Resolution No. 10-1350 Page 6 of 7
Resolution No. 15-1472, Page 9 of 13
Exhibit B
Authorized Improvements Estimated Costs
1) Construction of Rio Grand Boulevard $3,911,023
2) Construction of Rio Grande Bridge $1,016,065
3) Construction of Heritage Drive $231,767
4) SH — 121 improvements $1,297,164
5) Landscaping $517,029
6) Wetland mitigation $296,000
7) Conch'uction of Brame and remaining streets $3,494,309
8) Main Entrance and Median (Chisolm Trail) $587,247
9) Administrative & Financing Costs $750,000
Total Costs $12,100,604*
* $12,100,604 does not include interest costs associated with financing the
improvements.
Resolution No. 10-1350 Page 7 of 7
Resolution No. 15-1472, Page 10 of 13
1 " a $Ai $ aAA2" MaAm$22 $ $ 2aAAxAAxA2a "a E=
12AAA2m'mmm""2022s22A»22»Ass2AsMN » »22»AA»s » M »2AA"
R 0
0 ai
12A22222222A2222222iisii. $A6.AA „2$42inswiEs svolog»2300.02182» sRi» Es„
"« «� mo ��o” $$ 1« a5 �� »� so.oli ^^ as gIoH �' �§
i 2»2222222222A22A2A":A:..A2'2mm A A::A�!Am"» ai'A A A�m2::2!IA'
m0000000000000000000miimiim'simii0iimii0iimiiaiimiioii0iimii"iimii0ii0iimiimiim
2222222222222A2A222A222A2A2AsA22222AA«SA22822:22$24 2AAA2A221222g» „ N5
»
C i'RR r" ". » mm �RriR RR RR �s R� �� �� RRs�� 6� S� ��R��2��f�s����R1 �R
ia iiiiiiSiiia Sa $a a as as as as a as aaaa a SSI aU a as a 1111111
'aa�'a aaaaaaaaaa 'a �aa�riaa `aaa'a aaaa`a «`a�raaaa 'aa 'a`a as is`aaaa�'a a�'a aaaaaa`aa
3 R A m m o m o R A R " m
AAAA#22$422»ss AA AAAA2§22122 2s»2AyAAgAA AAiAs»22§22/A2a2s1AA"AsM2ApAA`AAa222Y
mg R: ss ggmR a$ EE R» RF El «^ x Ra mR g1 _R RE R« =a EE «' ag 5g.11 _» a
"eggsgeErM»AS»2»g IR2WgyAg AEg2y eMliAR s»RA«asai2IVg 2MiAR s» 2"2-"!
g Rs "s »» aG ss "s.g -a MO &^ «« a« as em ,; sl RR ss «« 88 $. 22 -.
4 4:2 N2 41»8«»s» AM»AMMAiis»SAgF22:4RRAy�R2;1A»»sa$s;isiis»»s"s»s A »A»:sss2a
's
' ELME
AA22A2»2ARSA222gasga.122»ssis2R2A1s2N22i2si.2§22 2422,7221.1.1.2/22;AA22228
3 RRQQ $$ S 5t S A
E RRRRRRR� RRRRRSRRi R a g pRiffil R s� 22 pp l $
_• �����"�� $aR�a aaRaa��a�aaRaa�aa�a� a���`�� aaRaaRaa asgSaQ�$�a���aRi ����S���R
aaaaaaaAaaaaa1raa2aaaaaaaaa'aa0aaaaaa`aaaaaaa`aaaa2221`aa 'aa&'aa1�.aaaaaaaaaxaaxaaat
In
m § § r R g R R R m m m m A m m » m m m m i
c n
�o "0000mmo"oe »m» a a av. a a»»a»»a a a» a s a» a a x a is
m �»AA AAAgAm:mA'AA'2A`AA`AA'mm'mm'AA�AA�mA'AA`AA`�m 2�22`A»'A»'AA`�A 2`�m A»�
c 1222AA2222222222i lir ce El ER w w wa leiria2E 0 6 251 2a1sg12ii$2S 2A2s
mm .. a
yo 22 2g "s"s gR SR Yi R3 ^^ AA_ ii =«mRR sg «« «gS gemI�
mg
j
�»sss2sssss2A222i^s^ s`'�Ag se«s^«ANNs A 2Wiei 2� g2MisW::sm „2s2sa
=p s � �� 4i i ii �� I iz"�" �» s�"»» »"
!if.'
Im »
4 mmm
m mm mm » mm m m mm
y A»»2222222222»222228AAmAA,1AAAA,12A2AAAA2m2A2AaAAA2A2%2R A2AgAg :
AA» 2 »
a ! gg gggg gg gggg ggss ggg gg RR
a a 8iiia'iia`aaaiaiiii$iiii ii ii 11 S1 SS 5111 1111 1 1 i $$iSi Si S as i
m SSS
Aaa0
1 § 2 2 2 § i g g g g §mm§m"§m ? § g ? § & 3'
3A22222s2s22222222QA222g22 22s22,1220A AAz22»22Z » 2522»22.22222»22SA32222G
W » i
I mmm E5 mm »» »» «^ «i NE NEA "^ gee»» 2g m" 22 «' ry« -' i,
$22sssAs2s223psh/3112 20,AS»saa2»121iAiisi sis»/»si Aa s2 s„ smiA»si2322223,
s
3=1AAA3332332As oAa-41 4 3:M M s 2 12113»32112;is^MN sagsHaUg sssAAAss2AR
Li'' € ii�ii-ii"iimiioi's=iimii�iimii�ii-iimii"iimii-iimiimii�iimii-mmm""m"
�ommmmmm"mom mo mm mm mm mm mm mm mm mm "" "" "" " " "" "" "" "" "" ""
A § § § § § § Q § § § § § § § § §m § §
»AARAA$A2»22A2g22»222.,2. .222, 2,22.2. 22 »AAA2AASAA Mr» 8
p
om C RRii' p o 02 r
" " S r S" SS SS ry 5$ SS $$ SS a
CO
;22, R i i i, i i a i i i i i i i a E
22»22E2A»22N 4 2424 22e2F.2AA22»A2g2AR2AAAA22»22Ns2 24 2A2222A2222222222Ac
etw
IA sii it sgA"gs0 ii R" "" „EPE E' EE EE Eo
sAA t s s s 2 sss oRR
„A A RI § AAAA»2»s2s2A2sAA2s'
Rh
F aAg$A$RA ggA Ems''2 ii.ii 2hA„EsRE EE E gAEg2„EAgSAo`5 RR2ElA1 AAAAAAAAAAAAA2A2AAA' C
e "„ »» 22 » „« «„ 3l"ss io xx ars 3: »» gi ai a« :» „» »» xs a p
' » w
i111iiiilii1ii1iiIiiiiiiiiiiiiiiii1ammmam "mmmm
y"
A2A22A2»2282222 RAA$A2AA22A222222sg22»22222»2A»2AE22«AA«s2R22s2A2222222AA22222»
APPENDIX C
Glade Parks PID Service Plan
TIF Revenue Exceeds debt
service payments.No PID
•Assessment.
PID 91
Glade Parka Municipal Revenue CashIlow
First,Second 8 Third Debt Issuance
2018 20172018 2019 2020
January 2/1612010 July 8/16/2016 Januoy 2/1512017 July 8/15/2017. , mN
ary 2/15/2018 July 8/15/2018 January 2/15/2019 July 8/15/2019 January 2/15/2020 July 8/15/2020
PID Revenue' $ - S - $ - $ - $ 51,251 $ - $ -4$ - $ - $ - $ . $ - $ $ $ - $ S - $ - $
TIF Revenue $ - S - S 561,843 $ - $ - $ - $ 919,000 $ - S - 0 - 5 1,437,906 0 - $ - - 5 1,839,262 5 - $ - $ - $2,066,429 $ -
Debt Service Account(Total Revenue)$ - S - $ 561,843 9 - S 51,251 $ - $ 919,000 9 - $ - $ - $ 1,437,906 $ - $ _ S - $ 1,839,262 9 - $ - $ - S 2,066,429 $
Debt Service Payments(Total Expenses) $ - $ (239,047) $ - $ (374.047) $ - $ (237,022) $ - $ (597 022 220701 g - $ X722,078) $ $ ,217,769)$ - $ (732.149) $ - $ (205,621) $ - $ (746,296)
Debt Service Cash0ow(Opera0ng Income) $ 750,000 8 610,963 $ 1,072,796 $ 698,749 $ 760,000 $ 512,978 $1,431,978 $ 834,556 $ 834.956 $ 606,265 9 2,044,171 8 1,322,093 $ 1,322,093 8 1,104,324 $ 2,943,580 $ 2,211,436 $2,211,436 $2,005,815 $4,072,244 $3,325,947
$ 51,251 $ (84,556) $ (487,137) $ (889,343) 5(1,114,510)
TIP Remaining Revenue Exceeds
PID r2 / debt service payments.No PID
Assessment.
Glade Parke Municipal Revenue Cashtlow
Fourth Debt Issuance
2017 2016 -- 2019 2020
January 2116/2017 Jule 0/1012017 January 2110/2016 July 0110/2010 w—d0n----wry 2/10/2019 July 8/15/2019 January 2/15/2020 July 8/15/2020
PID Revenue' $ - $ - s - 5 - $ 78,490 $ - S -,$ - s - s - $ - $ - $ - $ - $ - $ -
TIF Remaining Revenue $ - $ - S 84,956 $ - $ - $ - $ 487,137 $ - $ - $ - $ 885,343 $ - S - $ - $1,114,510 $ -
Debt Service Account(Total Revenue) $ - S 84,956 $ - $ 78,480 $ - $ 487,137 $ - $ - $ - $ 889,343 $ - S - $ - S 1,114,510 5 -
Debt Service Payments(Total Expenses) $ (81,723; 1 $ (81,723) $ (81,7231$ - 5 - S (196,531) $ (78,086)$ - $ (199,456)
Debt Service Cashl1ow(Operating Income) $ - S (81,723) $ 3,233 $ (78,490) S - 9 (81,723) $ 405,415 S 323,892 $ 323,692 S 242,683 S 1,132,026 S 936,495 5 035,405 $ 857,410 51,971,920 S 1,772,405
9 78490 8 (323,692) $ (611,803) 0 (836,969)
Resolution No. 15-1472, Page 12 of 13
APPENDIX D
Glade Parks PID Tax Roll
Tax Account Owner Name Owner Address Owner City Zip Code Property Location I Legal Description Tax Year 2015-2016 Market
Value
4483375 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2299 STATE HWY 121 A 441 4A01 20 2015 $ 234,178
4483383 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 4B 2015 21,518
4483391 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2800 HERITAGE AVE A 441 5 2015 2,054,202
4483405 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6 2015 1,313,856
4483413 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2531 STATE HWY 121 A 441 6A02 2015 217,800
4483421 RUBY-I2GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2531 STATE HWY 121 A 441 6A 2015 219,542
4483448 RUBY-12GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6A01 2015 87,120
4483456 RUBY-12-GLADEREFAIL 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 ;A 441 68 2015 257,126
4493389 GLADE OUTLOTS A LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 685 3 2015 18,034
4665112 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 3820 CHEEK SPARGER RD A 204 5 20 2015 94,438
61401.57 RUBY-12GLADERETAIL LLC 8723 WEAVER RD STE 108 ROCKFORD IL 81114.8021 2800 HERITAGE AVE A 685 2A 2015 3,310,560 ^
6140696 RUBY-12 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 4801 2015 82,938
6140718 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6601 2015 1,026,970
6149014 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 /STATE HWY 121 A 441 4802 20 1 2015 16,902
6149057 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 4A01A 20 I 2015 73,790
6370624 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 3401 CHEEK SPARGER RD A 204 5D 2015 31,102
6820514 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 3C 2015 133,390
7579527 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6A03 2015 13,521
41238575 RUBY-12GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2533 STATE HWY 121 A 441 6A04 2015 3,883
41559940 NATIONAL RETAIL PROPERTIES LP 450 S ORANGE AVE STE 900 ORLANDO FL 32801-3339 2901 STATE HWY 121 15399R A 1 2015 1,647,750
41559959 GLADE INFRASTRUCTURE LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2911 STATE HWY 121 15399R A 2 2015 1,006,758
41.559967 GLADE OUTLOTS A LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2721 STATE HWY 121 15399R B 1 • 2015 1,708,216
41559975 BDC FAMILY LP !TAX DEPT 5000 OVERTON PLZ STE 300 FORT WORTH TX 76109-4437 2711 STATE HWY 121 15399R B 2 2015 2,068,200
41563670 CH REALTY VI/MF COLLEWILLE 2801 LP 3819 MAPLE AVE DALLAS TX 75219 2800 BRAZOS BLVD 15399R H 1 20 2015 70,000,000
41580966 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6801A1 2015 25,352
41580990 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 60 2015 147,015
41581008 GLADE INFRASTRUCTURE LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6A06 2015 1,210,315
41581040 GLADE INFRASTRUCTURE LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 685 2A03 2015 667,351
41.581059 GLADE INFRASTRUCTURE LLC 8723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 685 2A04 2015 357,845 *
41581067 GLADE INFRASTRUCTURE LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 685 2A05 2015 448,840 *
41676122 COMMUNITY DEV CAPITAL GROUP C/O ROSE ASSET MANAGE 8585 E HARTFORD DR SCOTTSDALE AZ 85255-5471 HERITAGE AVE I 2015 2,436,746
41698290 GLADE OUTLOTS A LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 685 2A03B I 2015 126,858
41698304 GLADE OUTLOTS A LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 685 2A04A 2015 701,745
41898371 RUBY-12-GLADERETAIL LLC 8723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 885 2A09 2015 433,762 *
41698398 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 441 5A 2015 28,348
41698401 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6F 2015 36,764
$92,262,735
Glade Parks PID Assessment Roll
PID M1. 1 2 3 4 5
Tax Year 2015 2018 2017 2018 2019
Fiscal Year 2016 2017 2018 2019 2020
Projected Taxable Value $92,262,735 $126,983,990 $196,103,034 8252.862.747 8276.693,335
Penny,Interest&Acc Bal $0 $0 $0 $0 $0
Projected TIRZ Revenue $561,843 $857,474 $1367,993 $1.711.398 51,847,909
PID 61 Assessment
First,Second&Third
Debt Issuance $0 $51,251 $0 $0 $0
PID Millege 0.000000 0.040360 0.000000 0.000000 0000000
PID e2 Assessment
Projected Taxable Value $4,551.007 $45.609,040 $92,934,218 $104.290,402 8106.747,460
Fourth Debt Issuance $0 $0 $78,490 $0 $0
PID Millage 0.000000 0.000000 0.084457 0.000000 0.000000
*Properly values included within PID 02 boundaries
Resolution No. 15-1472, Page 13 of 13