HomeMy WebLinkAbout15-1473 09-08-2015 RESOLUTION NO. 15-1473
A RESOLUTION APPROVING A SERVICE AND ASSESSMENT PLAN
FOR GLADE PARKS PUBLIC IMPROVEMENT DISTRICT NUMBER
TWO.
WHEREAS, pursuant to Chapter 372 of the Texas Local Government Code (the
"Act"), on June 9, 2015 the City Council of the City of Euless adopted Resolution No.
15-1461 creating Glade Parks Public Improvement District No. 2 ("PID #2"); and
WHEREAS, in accordance with Section 372.013 of the Act, the City Council is
required to adopt a service and assessment plan for PID #2 that covers a period of at
least five years.
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 Service and Assessment Plan for Glade
Parks Public Improvement District Number Two, 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:
4111..O. 411 NLS cX‘ft'
Li • . rtin, Mayor im utter, TRMC, City Secretary
EXHIBIT A
FY 2015/2016- Service and Assessment Plan
Glade Parks Public Improvement District Number Two (PID#2)
City of Euless, Texas
1. Introduction
On June 9, 2015, the City Council of the City of Euless, Texas passed and
adopted Resolution No. 15-1461 (Appendix A) establishing the Glade Parks Public
Improvement District Number Two (PID#2).
2. Nature of the Improvements
The general nature of the improvements to be performed by the PID#2 is to fund
the following improvements (collectively, the "Authorized Improvements"): (a) payment of
expenses incurred in the establishment, administration, and operation of the District; and
(b) the design and construction of public improvement projects authorized by the Act that
are necessary for development of the Property, which public improvements will include
constructing an off-street parking garage and the establishment and improvement of a
park and park facilities within the District. These Authorized Improvements shall promote
the interests of the City and confer a special benefit upon the Property.
3. Authorized Improvements
Estimated Costs
1) Parking Garage $1,901,793
2) Park and Park Amenities $1,287,387
3) Bond Issuance Costs $ 79,730
Total Costs $3,268,910
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#2 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 when
construction of the public improvements within the District are complete. The expected
debt issuance schedule is shown on the following page.
Debt Issuance Schedule
Year Total Debt
Tranche 4 2016 $3,268,910
The detailed amortization of the Authorized Improvements is attached as Appendix B.
Resolution No. 15-1473, Page 2 of 14
5. Assessment Plan
In addition to the use of PID#2 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. Once the original PID#1
obligations have been fulfilled, excess TIRZ revenue will flow into the Glade Parks
PID#2. As the TIRZ fund begins to accrue revenue from the incremental increase in
property values, the PID assessments 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 assessment calculation methodology and the relationship between the PID#2
and the TIRZ is described below.
PID#2 Assessment Calculation A - B = C
The PID#2 assessment will be calculated annually and be equal to the total debt service
costs less any revenue collected and available after PID#1 Assessment calculation by
the TIRZ. In the example above (A) represents total debt service (B) represents
available TIRZ funds and (C) represents total PID#2 assessment revenue. For a
concrete example we will use the 2018 estimated assessment. In 2017 it is anticipated
that the Phase 4 debt will have been issued and the total debt service payments (A) are
estimated to equal $163,446 while the available TIRZ Revenue (B) is estimated to be
$84,956.
PID#2 Assessment Calculation $163,446 — $84,956 = $78,490
Therefore PID#2 assessment would be set to a millage rate that provides revenue equal
to $78,490. To calculate the millage rate divide the PID#2 assessment revenue (C) by
the estimated taxable value of the PID#2 and multiply the resulting number by 100 to
find the tax rate per $100 value.
Millage Calculation ($78,490 / $92,934,218) * 100 = 0.084457
The annual assessment plan is attached as Appendix C.
6. Levy of Assessments
The assessment year shall be concurrent with the City's tax year.
7. Assessment Roll
The Assessment Roll for the next five years is attached as Appendix D.
Resolution No. 15-1473, Page 3 of 14
Appendix A
RESOLUTION NO. 15-1461
A RESOLUTION CREATING, AUTHORIZING, AND ESTABLISHING
THE GLADE PARKS PUBLIC IMPROVEMENT DISTRICT NUMBER
TWO; AUTHORIZING ASSESSMENT METHOD AND COLLECTION
SERVICE THEREOF: AND PROVIDING FOR PUBLICATION AND AN
EFFECTIVE DATE.
WHEREAS, Chapter 372 of the Texas Local Government Code (the "Act")
allows for the creation of public improvement districts: and
WHEREAS, on May 12. 2015. 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 (PID) Number
Two (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 Number
Two 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 June 9. 2015 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. 15-1473, Page 4 of 14
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 June 9, 2015, 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 purpose of the District is to fund
the following improvements (collectively. the "Authorized Improvements"): (a)
payment of expenses incurred in the establishment, administration, and
operation of the District; and (b) the design and construction of public
improvement projects authorized by the Act that are necessary for
development of the Property, which public improvements will include
constructing an off-street parking garage and the establishment and
improvement of a park and park facilities within the District. These Authorized
Improvements shall promote the interests of the City and confer a special
benefit upon the Property
(c) Estimated Cost of the Improvements. The total estimated cost of
improvements provided by the District is approximately three million, one
hundred and eighty-nine thousand, one hundred and seventy-nine dollars
($3,189,179). 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
Resolution No. 15-1461, Page 2 of 8
Resolution No. 15-1473, Page 5 of 14
(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 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 assessment by other exempt
jurisdictions must be established by 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 Roll 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 cf 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 Number Two 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
Resolution No. 15-1461, Page 3 of 8
Resolution No. 15-1473, Page 6 of 14
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 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 Municipality will provide assessment collection services for collection of the
special assessments.
Section 5.
The 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 AND ADOPTED at a regular meeting of the Euless City Council on
June 9, 2015, by a vote of 7 ayes. 0 nays, and 0 abstentions.
APPROVED:
•
LliZZ,✓
�da Martin, Mayor
ATTEST: -
f1,. 44 -• WP
utter, MC, City Secretary
Resolution No. 15-1461, Page 4 of 8
Resolution No. 15-1473, Page 7 of 14
Exhibit A
Beginning at the point of intersection of the eastern right of way (ROW) line of
Harrington Gardens Parkway and the northern property line of HAVINS. JOHN H
SURVEY Abstract 685 Tract 2A, thence
West along the northern property line of HAVINS. JOHN H SURVEY Abstract 685 Tract
2A to a point where said line intersects with the western property line of HAVINS, JOHN
H SURVEY Abstract 685 Tract 2k thence
South along the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract
2A to a point where said line intersects with the southern property line of GLADE
PARKS Block H Lot 1 & BLK G LOT 1, thence
West along the southern property line of GLADE PARKS Block H Lot 1 & BLK G LOT 1
to a point where said line intersects with the western property line of HAVINS, JOHN H
SURVEY Abstract 685 Tract 2A. thence
South along the western property line of HAVINS. JOHN H SURVEY Abstract 685 Tract
2A to a point where said line intersects with the projection of the northern property line
of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT. thence
West along the projection of the northern property line of HAVINS, JOHN H SURVEY
Abstract 685 Tract 2A09 SEPARATED TRACT to a point where said line intersects with
the western property line of HAVINS. JOHN H SURVEY Abstract 685 Tract 2A09
SEPARATED TRACT, thence
South along the western property line of HAVINS. JOHN H SURVEY Abstract 685 Tract
2A09 SEPARATED TRACT to a point where said line intersects with the southern
property line of HAVINS. JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED
TRACT, thence
East along the southern property line of HAVINS. JOHN H SURVEY Abstract 685 Tract
2A09 SEPARATED TRACT to a point where the projection of said line intersects with
the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A, thence
East along the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract
2A to a point where the projection of said line intersects with the southern property line
of HAVINS. JOHN H SURVEY Abstract 685 Tract 2A05 SEPARATED TRACT, thence
East along the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract
2A05 SEPARATED TRACT to a point where the projection of said line intersects with
the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A05
SEPARATED TRACT. thence
Resolution No. 15-1461, Page 5 of 8
Resolution No. 15-1473, Page 8 of 14
North along the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract
2A05 SEPARATED TRACT to a point where the projection of said line intersects with
the eastern property line of HAVINS. JOHN H SURVEY Abstract 685 Tract 2A04
SEPARATED TRACT. thence
North along the eastern property line of HAVINS. JOHN H SURVEY Abstract 685 Tract
2A04 SEPARATED TRACT to a point where said line intersects with the northern
property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED
TRACT, thence
West along the northern property line of HAVINS. JOHN H SURVEY Abstract 685 Tract
2A04 SEPARATED TRACT to a point where said line intersects with the eastern
property line of HAVINS. JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED
TRACT thence
North along the eastern property line of HAVINS JOHN H SURVEY Abstract 685 Tract
2A04 SEPARATED TRACT to a point where said line intersects with the northern
property line of HAVINS. JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED
TRACT. thence
West along the northern property line of HAVINS JOHN H SURVEY Abstract 685 Tract
2A04 SEPARATED TRACT to a point where the projection of said line intersects with
the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A. thence
North along the eastern property line of HAVINS. JOHN H SURVEY Abstract 685 Tract
2A to a point where said line intersects with the northern property line of HAVINS
JOHN H SURVEY Abstract 685 Tract 2A which is the point of beginning
Resolution No. 15-1461. Page 6 of 8
Resolution No. 15-1473, Page 9 of 14
Exhibit A
e a e D.
ic i 0
0
t4
r
a.
f ` I or
ir con L t
Ilisolo
tatter,DOW lore or ;4e'*..4 r.
•,t RA ,,,rrrrME6en Gamont Pwttyay
and northern property lone VI Made RAI
,
-
r or HAVtNS.r0r411 N SURVEY
iI Abstract 625 Tract 2A A,
tiwry; a e
Z. a
1 tit
to tors _ ; $ 1
S
Mastro property Iwo {
a1 HAVINS.JOHN N SURVEY
Abstract q5 tract 2A
C.r 4 LN;npai Ivor mrrtdr •
Nor*property one of 11erMwt
., yr~a # HAYLNS.)OHN H SURVEY V z r a
a Abstract 145 Tract 2AO6 �'
SEPARATED TRACT
c`
0
i
Western property one of areae
Matsu,property hoe of
HAVINS,JOHN M SURVEYa
L
Abstract 685 Tact TAM _ uyrNS,)OHN H SURVEY f ,.
1Weract 6RS tract MOS 8wrr:or:
SEPARATED TRACT StRARA*ED TRAGI
7r+o.R
R
R
Resolution No. 15-1461, Page 7 of 8
Resolution No. 15-1473, Page 10 of 14
Exhibit B
Authorized Improvements G Estimated Costs
Parking Garage 1,901,793.00
Park and Park Amenities 1,287,386.75
$
TOTAL COSTS 3,189,179.75
Resolution No. 15-1461, Page 8 of 8
Resolution No. 15-1473, Page 11 of 14
$ "s 3„$ a a � � a � a � � $ � x a x a a �=
jxxxxxxxxxxxxxxxxxsxxgxsg«« x0!0O»AAAs»ssMssMxxM2+8tsA»xA»2q:22 ss»xx»AA»AA^»
FP F" o xi§ -" ssax inx0Asxsm xaRRxRiiEs $8 Ain
122" A ""2222"iiaii.0 ^ xsm%E s » 0g = 0 00 0xg2Eil
I' 1"""sssgg gg x"""ssg»s§xs§§ 5 s»»s$BAFE gg liAlisigs Fs.s WIls isE eFF2FFsEgs Msa$x22s!
ii
00000000aa0000000000a»11 »»e 1»" »e»dos"s
=» »1a 1»"»!_»» iS"»l »a0 »0 l» §»
j
$sssxxsssasassssxsssxxsssx»xx»Ax»ss ssgx sIssgAs!ssgssgxs gsglas!ss R gssgsahalsi
FFF
s 55a5a54a5ia55s55 55 5 a55 5 5 5 5fi555555 a'aaa'x 5 »55 Sa 55 5545 5aa'aaaaa55a
gs#sx3xlsxxg s " " » g " s " » easxx» s Nsss» xassss»ss/esxxlxxasxassesaAsawais. sssA&sssssxa
g gg gg "gg ea R= g$ g^ gg g? »d ^a = $g ig ig s is s^s "$ ig m
sis»»so sass s s ss»x»»s sg sMase~44/s ss»aA8»Ai¢A»Rsaisaisa salso,sssA
sp Ngg 9> gg g: as o ea 88 F. i3 gogg "" ,^ "" sg `s8 ss � ss gg ii
s,:�Aggso„sgssh sRRsseis»»”""«gmsEiskigi sE�sgsiis»»s»,sari»Rs»,s"»sxss
i i gg i R
sssssssNsxRxxgsxpsaNaaissz2siasassisaissasxaxsass»xsgASss»sslssisx/xxrissAAAAg
's wi^.." ""RRRRRRRRRRRRRRR sssRR�55^ gRsskiR� sR�
t Agxa as a 2:12212 �{ a. al_aaa!aa1aaaa122i22 aa1 aa_ aIaa __ _ a"
aaaaafia'x aaaa'aaa'a aaaiaaaaaaaa`aa5`a aaaar`aa'aaa'a'aaa'x 5555`a aaa`555555`x5555`a aaaaaaaaaaa
tl
§ § g g s R » m R » x R s »
Ixssasssssssssxsxx„sxgssixsgssaxAassyssyssiss$ssassassasse Assese sasxaAgasss4
« « « « x
�.sssssssssAsxsssamxag^ria a x RAsg«$ A1A AERsERsa lrilx Nx Rgxaax alx glx igA�"msss Si
xA gg "s."s. as ��a�. s a� ss seio gg gg i
m
iW ER
A xm»x^» o»x s g 3!sM» N »'"AgssgEN5»«:: mmA^^A22ssssa
F
...
<a 1¢000000000000000000000AA0 goggodgo oggoggog§oggogg.gge$gog40 AoAgoggogg0 10000
xASAAAAAAAAxAAAAxAssxxR xx„xx»Asi xsa xxss» xxmsss xA3AALAAgssRsx„xsssi ssa:sssgx
°s g"g a S S fi 5 s ss 5 ss ss`5aaia ? gss ssp
tl aaaSa 'S
aa5xaaaa5aa5aaaaa5aa5xa5xaaaaxaa'aaaaaaaa5aa'a'a «aa5xa5aa5xa`5c 55S 55 aaa
9
■
A $ $ i $ $ $ $ $ S 5 i g g i A $ $ 3
Assssssxsssssgssose sZsx»xsssississeses»AsisszsAAsssxs«ssssIssisAssassst
»» E,” "R PE »» gg EE EE gg "" gg . "" RR „r "s az
issssssssssss$lsFons »s0s15ssis s syiasias0s0si sxlsseivis xsa»sssssssg
aN »» "" "s "g ig g si gg ig "" i "" ss »» as »^ s" sx Rs »s
E iAAAAAAA ""i0 ggxogxaaA»ga A alA»»x55 a as�Mxals»ax!!s ass»»x`»s==A 22AAsssAx!
FgDD »« »«
}00000000000o110 go `o g0 10 10 g0 10 ` 0 154/0 `!0,`1111 ` HA11 g!00oo000
388 g g
$xxxsAxxxsxxxxsxAAAAAARAAAxsxARsAxAAAxAxAxAAAAsxAiAA�AA$ssNxxxAxx s''"
^ » sss sssi1§§1a§1§§ §§1§ §§is§ x gsRssssgsss iiis ss sss ilai11a1
55a55a55a5xa55a55 55 55 5a5 55 55 55a5a55 55br' a `aaaaax `aaa 'aaaaS`a
�.
m
pasAMsARxxNxxNxxRxx,xx,ssgxx,sayjxA»xxgAxRsARSAAAs 222 aMxA»saiss,sAsxxxxsxxxxxss.asxm
sx Aig ggAmAg"A$gAggAn"xgaA»gAggAggA»»A ggA SSA o„s 55s its 15.sxxxAxx»xxxxAxsxss�
3 A »»»gg g$ "a is s» affi S» RS R» i» R R» « al z»" S
gg mm gg gg gg "g gg "" gg gg gg g " gg ii gi ii C
jj AMAA ,:Ag A A^^x x,:,:x�'-xr'sRSR A�s»gsR»Ar»8rsmmx�;'A»sA ASAAAAAAA2AASAA2Axsk
e «» AA A ae aS S» SS a a» « g» »» :.«
l ggggIgg§ IIII!!!!!!!!!!!!!!!!!!!!!1111!!!'s!! !!!!!!!!Igea0000000000 "—'
xxxxAAA aAx Rxx RAA a QAA axx RAA RAA gxAgAA MAA aAA AAA aAA 5Ax 5AARxARAAASAssxxsAxxsxAAAA»
APPENDIX C
Glade Parks PID Service Plan
TIF Revenue Exceeds debt
service payments.No PID
Assxcment.
PID 81
Glade Parks Municipal Revenue CashIlow
First,Second&Third Debt issuance
2010 2017 -' 201$ 2019 2020
January 3/10/1016 July 0116126010 AXIOM 211612017 July 881012017/.-enwry 218/2010 July 6H0Y2018, January $11911019 July 0/1582010 January 21164020 Jubt 0119/2030
PID Revenue' $ - $ - $ - E - $ 51,251 $ - $ -, -- - - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
TIF Revenue $ - $ - $ 561,843 $ - $ - $ - $ 919,000 $ - $ - $ - $ 1,437,906 $ - $ - $ - $ 1,839,262 $ - $ - $ - 5 2,066,429 5
-
DebiServiceAccount(TotalRevenue)$ - $ - $ 561.843 $ - $ 51,251 $ - $ 919,000 $ - $ - $ - $ 7,437,908 $ - $ - $ - $ 1,839,262 E - $ - $ - $2,086,429 $ -
Debt Service Payments(Total Expenses).5 $ (239.047) $ $ (374047) $ 5 )237 022) $ - 9 (597 022)$ - $(228.691) $ - $ 1722078) $ - 5 )217 769) 5 5 ,732 149) $ - $ (205,621) S - $ (746 298)
Debt Service Cashflow(Operating Income) $ 750,000 8 510,953 8 1,072,796 $ 698,749 E 750,000 $ 512,978 8 1,431,978 8 634,956 8 634,956 $ 606,265 $ 2,044,171 $1,322,0938 1,322,093 $ 1,104,324 E 2,943,586 8 2,211,436 8 2,211,436 82,000,815 $4,072,244 8 3,325,947
$ 51,251 $ (84,958) 5 (487,137) $ (889,343) 5(1,114,510)
TIF Remaining Revenue Exceeds
debt service payments.No PID
PID 82 - Assessment.
Glade Perks Municipal Revenue Cashfow
Fourth Debt Issuance
2017 2018 /// 2010 2020
January 2/15/2017 July 8/10/2017 January 2/1812018 July 8/15/2018 ,_.--dry 2/16/2019 July 8810/7010 January 2110/2028 July 0/1182030
PID Revenue• $ - $ - $ - E - E 78,490 $ - $ -4$ - $ - $ - $ - $ - $ - $ - 5 - $ -
TIF Remaining Revenue $ - $ - $ 84,956 $ - $ - $ - 0 487,137 $ - $ - $ - $ 889,343 $ - $ - $ - $1.114,510 $ -
Debt Service Account(Total Revenue) $ - $ - $ 84,956 $ - $ 78,490 $ - $ 487,137 $ - $ - E 889,343 $ - $ - $ - $1,114,510 $ -
Debt Same Payments(Total Expenses) 5 181 723) $ - 0 .81 723) $ (81,723) $ - $ (81 723) $ (81.010) $ - $ (196.531) 9 )78 086) $ - 9 (199.456)
Debt Service Cashtlow(Operating Income) $ - $ (81,723)$ 3,233 8 (78,490) $ - $ (81,723) $ 405,415 8 323,692 8 323,892 $ 242,683 $ 1,132,026 $ 935,495 $ 935,495 $ 857,410 $1,971,920 8 1,772,485
$ 78,490 $ (323,692) $ (611,803) $ (836,969)
Resolution No. 15-1473, Page 13 of 14
APPENDIX D
Glade Parks PID Tax Roll
Tax Account Owner Name Owner Address I Owner City Zip Code Property Location !Legal Description I 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-12GLADERETAIL 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-12GLADERETAIL 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-12GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2531 STATE HWY 121 A 441 6A 2015 219,542
4483448 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6A01 2015 87,120
4483456 RUBY-12-GLADERETAIL 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 ;A 441 6B 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
6140157 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2800 HERITAGE AVE A 685 2A 2015 3,310,580 *
6140696 RUBY-12 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 IA 441 4601 2015 82,938
6140718 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6801 I 2015 1,026,970
6149014 RUBY-12GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 IA 441 4802 20 2015 16,902
6149057 RUBY-12GLADERETAIL LLC 6723 WEAVER RD STE 108 I ROCKFORD IL 61114-8021 STATE HWY 121 'A 441 4A01A 20 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-12GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6A03 2015 13,521
41238575 RUBY-12-GLADERETAIL 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
41559967 GLADE OUTLOTS A LLC 16723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 2721 STATE HWY 121 115399R 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 115399R B 2 2015 2,068,200
41563670 CH REALTY VI/MF COLLEYVILLE 2801 LP 3819 MAPLE AVE DALLAS TX 75219 2800 BRAZOS BLVD 115399R H 1 20 2015 70,000,000
41580966 RUBY-12GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6601A1 2015 25,352
41580990 RUBY-12-GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 STATE HWY 121 A 441 6D 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
41581059 GLADE INFRASTRUCTURE LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 685 2804 2015 357,845 *
41581067 GLADE INFRASTRUCTURE LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 885 2805 2015 448,840 *
41676122 COMMUNITY DEV CAPITAL GROUP I C/O ROSE ASSET MANAGr8585 E HARTFORD DR SCOTTSDALE AZ 85255-5471 HERITAGE AVE 2015 2,436,746
41698290 GLADE OUTLOTS A LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 685 28036 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
41698371 RUBY-12GLADERETAIL LLC 6723 WEAVER RD STE 108 ROCKFORD IL 61114-8021 HERITAGE AVE A 685 2809 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 011 2 3 4 6
Tax Year 2015 2018 2017 2018 2019
Fiscal Year 2018 2017 2018 2019 2020
Projected Taxable Value 892.262.735 $126,983,990 $196.103,034 $252,862,747 $276.693.335
Penang,Interest&Acc Bal $0 $0 $0 $0 $0
Projected Tint Revenue $561.843 $857,474 $1,367,993 $1.711.398 $1,847,909
PID 81 Assessment
First Second&Third
Debt Issuance $0 $51,251 $0 $0 $0
PID Millage 0.000000 0.040380 0.000000 0.000000 0.000000
PID 42 Assessment
Projected Taxable Value 84,551,007 $45,609.040 $92,934,218 $104,290,402 $106,747,460
Fourth Debt Issuance $0 $0 $78,490 $0 $0
PID Millage 0.000000 0.000000 0084467 0.000000 0.000000
A Property values Included within PID 42 boundaries
Resolution No. 15-1473, Page 14 of 14