01.22.2013 Town Council PacketPage 1 of 3
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Prosper is a place where everyone matters.
1. Call to Order/Roll Call.
2. Invocation, Pledge of Allegiance and Pledge to the Texas Flag.
3. Announcements of upcoming events.
4. Present a Certificate of Recognition to the recipient of the 461st Single Family Home
Building Permit issued in 2012, a new annual record for the Town of Prosper. (WS)
5. CONSENT AGENDA
(Items placed on the Consent Agenda are considered routine in nature and are considered
non-controversial. The Consent Agenda can be acted upon in one motion. A majority
vote of the Council is required to remove any item for discussion and separate action.
Council members may vote nay on any single item without comment and may submit
written comments as part of the official record.)
5a. Consider and act upon minutes from the following Council meeting(s) (AP)
• Regular Meeting – January 8, 2013
5b. Consider and act upon Ordinance No. 13-02, rezoning 10.5± acres, located on the
north side of Prosper Trail, 2,500± feet west of Dallas Parkway, from Single
Family-15 to Planned Development-Single Family-10 (PD-SF-10). (Z12-0008) (CC)
5c. Consider and act upon Ordinance No. 13-03, rezoning 5.1± acres, located on the
southeast corner of Fishtrap Road and Good Hope Road, from Agricultural (A) to
Single Family-10 (SF-10). (Z12-0010) (CC)
6. CITIZEN COMMENTS:
(The public is invited to address the Council on any topic. However, the Council is
unable to discuss or take action on any topic not listed on this agenda. Please
complete a “Public Comments Form” and present it to the Town Secretary prior to the
meeting.)
Other Comments by the Public -
REGULAR AGENDA:
AGENDA
Meeting of the Prosper Town Council
Prosper Municipal Chambers
108 W. Broadway, Prosper, Texas
Tuesday, January 22, 2013
Meeting begins at 6:00 p.m.
Page 2 of 3
(If you wish to address the Council during the regular agenda portion of the meeting,
please fill out a “Speaker Request Form” and present it to the Town Secretary prior to the
meeting. Citizens wishing to address the Council for items listed as public hearings will
be recognized by the Mayor. Those wishing to speak on a non-public hearing related
item will be recognized on a case-by-case basis, at the discretion of the Mayor and Town
Council.)
PUBLIC HEARING:
7. A public hearing to consider and act upon Ordinance 13-01 amending Chapter 2, Section
25 (Specific Use Permits); Chapter 3, Section 1 (Use of Land and Buildings)and Section
2 (Definitions); and Chapter 4, Section 4 (Parking Requirements), of the Town’s Zoning
Ordinance relating to, among other things, certain definitions, uses and regulations
pertaining to alcoholic beverages. (Z12-0009). (CC) (Continued Public Hearing from
the January 8, 2013 Council Meeting.)
8. Conduct a public hearing for the designation of Tax Increment Financing Reinvestment
Zone, Number Two Town of Prosper. (LD) (Continued Public Hearing from the
December 19, 2012 Joint Council & Prosper Economic Development Corporation
Meeting.)
DEPARTMENT ITEMS:
9. Consider and take action to approve Ordinance No. 13-04 designating a Tax Increment
Financing Reinvestment Zone, Number Two Town of Prosper. (LD)
10. EXECUTIVE SESSION:
Recess into Closed Session in compliance with Section 551.001 et. seq. Texas
Government Code, as authorized by the Texas Open Meetings Act to deliberate
regarding;
10a. Section 551.072. To deliberate the purchase, exchange, lease, or value of real
property generally located on W. Broadway Street west of Coleman.
10b. Section 551.071(2). Consultation with Town Attorney regarding Tax Increment
Reinvestment Zone Number Two, Town of Prosper.
10c. Section 551.071. Meeting with the Town Attorney regarding a matter in which
the duty of the Town Attorney under the Texas Disciplinary Rules of Professional
Conduct of the State Bar of Texas conflicts with the Open Meetings Act regarding
legal issues related to the:
(i) proposed ordinance relating to, among other things, certain
definitions, uses and regulations pertaining to alcoholic beverages;
(ii) Agreement for the Reduction of the ETJ of the Town of Prosper,
by and between the Town and Comanche Land Partners, Ltd.,
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generally located west of FM 1385 and north of Fishtrap Road, and
containing 100.582± acres of land;
(iii) Agreement for the Reduction of the ETJ of the Town of Prosper,
by and between the Town and Comanche Land Partners, Ltd.,
generally located west of FM 1385 and north of Fishtrap Road, and
containing 9.257± acres of land; and
(iv) Case 4:12-cv-00789-RAS-DDB; David Lightfoot vs. Town of
Prosper, Kirk McFarlin, Gary McHone and Amy Bockes.
11. To reconvene in Regular Session and take any action necessary as a result of the Closed
Session.
12. Possibly direct Town Staff to schedule topic(s) for discussion at a future meeting.
13. Adjourn.
CERTIFICATION
I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on the inside window at the
Town Hall of the Town of Prosper, Texas, a place convenient and readily accessible to the general public at all
times, and said Notice was posted on the following date and time:
By __________________________ at 4:00 p.m. and remained so posted at least 72 hours before said meeting was
convened.
________________________________
Amy Piukana, TRMC
Town Secretary
If during the course of the meeting covered by this Notice, the Town Council should determine that a closed or
executive meeting or session of the Town Council or a consultation with the attorney/special counsel for the Town
should be held or is required, then such closed or executive meeting or session or consultation with the
attorney/special counsel as authorized by the Texas Open Meetings Act, Texas Government Code, §551.001, et seq.,
will be held by the Town Council at the date, hour and place given in this Notice or as soon after the commencement
of the meeting covered by this Notice as the Town Council may conveniently meet in such closed or executive
meeting or session or consult with the attorney/special counsel for the Town concerning any and all subjects and for
any and all purposes permitted by the Act, including, but not limited to, the following sections and purposes:
Texas Government Code:
§551.071 - Consultation with the attorney/special counsel for the Town.
§551.072 - Discussion regarding the purchase, exchange, lease or value of real property.
§551.074 - Discussion regarding personnel matters.
NOTICE
Pursuant to Town of Prosper Ordinance Number 07-04, all speakers other than Town of Prosper Staff are limited to
three (3) minutes per person, per item, which may be extended for an additional two (2) minutes with approval of a
majority vote of the Town Council.
NOTICE OF ASSISTANCE AT PUBLIC MEETINGS: The Prosper Town Council Meetings are wheelchair
accessible. Persons with disabilities who plan to attend this meeting and who may need auxiliary aids or services
such as Interpreters for persons who are deaf or hearing impaired, readers, or large print, are requested to contact the
Town Secretary’s Office at (972) 569-1011. BRAILLE IS NOT AVAILABLE.
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1. Call to Order / Roll Call.
Council Members present: Mayor Ray Smith, Deputy Mayor Pro Tem Kenneth Dugger, Council
Member Jason Dixon, Council Member Danny Wilson, Council Member Mike Korbuly, and Council
Member Curry Vogelsang.
Absent: Mayor Pro Tem Meigs Miller
Staff Members present: Lyle Dresher, Interim Town Manager; Amy Piukana, Town Secretary;
Ronnie Tucker, Fire Chief; Matthew Garrett, Finance Director; Hulon Webb, Development Director;
Frank Jaromin, Public Works Director; and Chris Copple, Planning Director.
2. Pastor Michael Gilton with St. Paul Episcopal Church led the Invocation. The Pledge of Allegiance,
and Pledge to the Texas Flag were given.
3. Announcements of upcoming events – No announcements were given.
4. CONSENT AGENDA
Council Member Vogelsang pulled item 4c. off Consent to allow more discussion.
(Items placed on the Consent Agenda are considered routine in nature and are considered non-
controversial. The Consent Agenda can be acted upon in one motion. A majority vote of the Council
is required to remove any item for discussion and separate action. Council members may vote nay on
any single item without comment and may submit written comments as part of the official record.)
4a. Consider and act upon minutes from the following Council meeting(s) (AP)
• Regular Meeting – December 11, 2012
• Special Called Meeting – December 11, 2012
• Special Called Joint Meeting with PEDC – December 19, 2012
• Special Called Meeting – December 20, 2012
• Special Called Meeting – December 31, 2012
4b. Consider and act upon Resolution No. 13-02, recognizing Prosper Little
League (PLL) as a preferred athletic league as per Section 7 of the Town’s
Comprehensive Parks Ordinance. (HW)
4d. Consider and act upon a Joint Resolution No. 13-03 with the City of McKinney
requesting the Texas Department of Transportation reduce the prima facie
speed limit on FM 2478 (Custer Road) between US 380 and FM 1461 to 50
miles per hour. (HW)
Minutes
Regular Meeting of the Prosper Town Council
Prosper Municipal Chambers
108 W. Broadway
Prosper, TX 75078
Tuesday, January 8, 2013
Council Meeting
6:00 p.m.
Page 2 of 5
4e. Consider and act upon the proposed conveyance of land for a community
park to fulfill the Town’s park dedication requirements, as shown on the
preliminary plat of Meadowbrook, being 642 single family residential lots
on 230.0± acres, located on the east side of Coit Road, 800± feet south of
First Street. The property is zoned Planned Development-25 (PD-25).
(D11-0006). (CC)
Deputy Mayor Pro Tem Dugger made a motion to approve Consent Items 4a, 4b, 4d, and 4e, as
presented. Motion seconded by Council Member Wilson. Motion approved by vote of 6-0.
4c. Consider and act upon the monthly Financial Reports. (MG)
Finance Director Matthew Garrett briefed Council regarding this item noting the numbers reflect
unfilled employee positions. After discussion, Council Member Vogelsang made a motion to
approve Consent Item 4c., as presented. Motion seconded by Deputy Mayor Pro Tem Dugger.
Motion approved by vote of 6-0.
Council Skipped to Agenda Item Nos. 9 & 10.
Deputy Mayor Pro Tem Dugger made a motion to recess into executive session at 6:11 p.m.
Motion seconded by Council Member Korbuly. Motion approved by vote of 6-0.
9. EXECUTIVE SESSION
Recess into Closed Session in compliance with Section 551.001 et. seq. Texas Government Code, as
authorized by the Texas Open Meetings Act to deliberate regarding;
9a. Section 551.074. To deliberate the appointment employment and/or duties of the Town
Manager.
9b. Section 551.072. To deliberate the purchase, exchange, lease, or value of real property
generally located on W. Broadway Street west of Coleman.
9c. Section 551.071. Meeting with the Town Attorney regarding a matter in which the duty of
the Town Attorney under the Texas Disciplinary Rules of Professional Conduct of the State
Bar of Texas conflicts with the Open Meetings Act regarding legal issues related to the
proposed ordinance relating to, among other things, certain definitions, uses and regulations
pertaining to alcoholic beverages.
9d. Section 551.071. Meeting with Town Attorney regarding a matter in which the duty of the
Town Attorney under the Texas Disciplinary Rules of Professional Conduct of the State Bar
of Texas conflicts with the Open Meetings Act regarding Case 4:12-cv-00789-RAS-DDB;
David Lightfoot vs. Town of Prosper, Kirk McFarlin, Gary McHone and Amy Bockes.
10. To reconvene in Regular Session and take any action necessary as a result of the Closed
Session. Council Member Vogelsang made a motion to reconvene into regular session at 7:51
p.m. Motion seconded by Deputy Mayor Pro Tem Dugger. Motion approved by vote of 6-0.
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Deputy Mayor Pro Tem Dugger made a motion to accept the Town Manager Contract with
Harlan Jefferson, and adopt Resolution No. 13-01. Motion seconded by Council Member
Vogelsang. Motion approved by vote of 6-0.
Mayor Smith introduced the new Town Manager of Prosper, Harlan Jefferson. Mr.
Jefferson thanked Council for their support and the opportunity to serve the Town of
Prosper.
REGULAR AGENDA
(If you wish to address the Council during the regular agenda portion of the meeting, please fill out
a “Speaker Request Form” and present it to the Town Secretary prior to the meeting. Citizens
wishing to address the Council for items listed as public hearings will be recognized by the
Mayor. Those wishing to speak on a non-public hearing related item will be recognized on a case-
by-case basis, at the discretion of the Mayor and Town Council.)
PUBLIC HEARING
6. A public hearing to consider and act upon Ordinance 13-01 amending Chapter 2, Section 25
(Specific Use Permits); Chapter 3, Section 1 (Use of Land and Buildings) and Section 2
(Definitions); and Chapter 4, Section 4 (Parking Requirements), of the Town’s Zoning Ordinance
relating to, among other things, certain definitions, uses and regulations pertaining to alcoholic
beverages. (Z12-0009). (CC) Planning Director Chris Copple briefed Council regarding this item.
Mr. Copple explained that the proposed Ordinance 13-01 is an amendment to the Town’s Zoning
Ordinance. Mr. Copple noted that if approved, it allows the Town to update the land use charts and
regulations pertaining to alcoholic beverages.
Deputy Mayor Pro Tem Dugger made a motion to open the Public Hearing. Motion seconded by
Council Member Wilson. Motion approved by vote of 6-0.
There was no one present that wished to speak for and/or against the item. Council Member
Vogelsang made a motion to continue the Public Hearing at the January 22, 2013 Council Meeting.
Motion seconded by Deputy Mayor Pro Tem Dugger. Motion approved by vote of 6-0.
7. A public hearing to consider and act upon a request to rezone 10.5± acres, located on the north side
of Prosper Trail, 2,500± feet west of Dallas Parkway, from Single Family-15 to Planned
Development-Single Family-10 (PD-SF-10). (Z12-0008) (CC) Planning Director Chris Copple
briefed Council regarding this item. Mr. Copple explained the purpose of the rezoning is to provide
an entrance into the future Legacy Crossing (Planned Development-36) subdivision from Prosper
Trail. Mr. Copple noted the Future Land Use Plan (FLUP) recommends Medium Density Residential
uses for the property. The requested Planned Development (PD) District allows for the development
of up to seventeen (17) single family lots, a maximum density of 1.63 dwelling units per gross acre
(du/ac). Mr. Copple explained that the FLUP recommends a density not to exceed 2.5 du/ac in areas
designated for Medium Density Residential, with typical lot sizes between 12,500 to 20,000 square
feet. Mr. Copple noted the PD proposes a minimum lot size of 11,000 square feet to reflect the PD-
36-Type II standards. While the minimum lot size is less than 12,500 square feet, the maximum
density proposed (1.63 du/ac) is significantly less than 2.5 du/ac due to the PD prohibiting single
family residential lots from being located within 750 feet from Prosper Trail. At their November
20, 2012 meeting, the Planning & Zoning Commission recommended the Town Council approve the
request to rezone 10.5± acres, located on the north side of Prosper Trail, 2,500± feet west of Dallas
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Parkway, from Single Family-15 to Planned Development-Single Family-10 (PD-SF-10), by a vote
of 5-0.
Deputy Mayor Pro Tem Dugger made a motion to open the Public Hearing. Motion seconded
Wilson. Motion approved by vote of 6-0.
There were no citizens present in support and/or opposition of the case. Council Member Korbuly
made a motion to close the public hearing. Motion seconded by Council Member Dixon. Motion
approved by vote of 6-0.
After discussion, Council Member Vogelsang made a motion to approve the rezoning request on
10.5± acres, located on the north side of Prosper Trail, 2,500± feet west of Dallas Parkway, from
Single Family-15 to Planned Development-Single Family-10 (PD-SF-10). (Z12-0008) Motion
seconded by Deputy Mayor Pro Tem Dugger. Motion approved by vote of 6-0.
8. A public hearing to consider and act upon a request to rezone 5.1± acres, located on the southeast
corner of Fishtrap Road and Good Hope Road, from Agricultural (A) to Single Family-10 (SF-10).
(Z12 -0010). (CC) Planning Director Chris Copple was present to brief Council regarding this item.
Mr. Copple explained that the applicant acquired the property to include it in the Windsong Ranch
development (PD-40). The applicant submitted a concept plan exhibit to illustrate how the property
may be incorporated into the current Windsong Ranch development. The FLUP recommends a
density not to exceed 2.5 du/ac in areas designated for Medium Density Residential, with typical lot
sizes between 12,500 to 20,000 square feet. Mr. Copple explained that the SF-10 District allows for a
minimum lot size of 10,000 square feet. Mr. Copple noted the Windsong Ranch Planned
Development (PD-40) allows for minimum lot size of 8,000 square feet, but due to open space and
landscape areas, protected floodplain areas, the dedication of land for public parks, school sites, and
other town facilities, the maximum single family density is approximately 1.9 du/ac.
Mayor Pro Tem Dugger made a motion to open the public hearing. Motion seconded by Council
Member Wilson. Motion approved by vote of 6-0.
There were no citizens present in support and/or opposition of the case. Mayor Pro Tem Dugger
made a motion to close the public hearing. Motion seconded by Council Member Korbuly. Motion
approved by vote of 6-0.
Mayor Pro Tem Dugger made a motion to approve to rezoning 5.1± acres, located on the southeast
corner of Fishtrap Road and Good Hope Road, from Agricultural (A) to Single Family-10 (SF-10).
(Z12 -0010). Motion seconded by Council Member Korbuly. Motion approved by vote of 6-0.
Mayor Smith skipped to Agenda Item 5.
5. CITIZEN’S COMMENT
(The public is invited to address the Council on any topic. However, the Council is unable to
discuss or take action on any topic not listed on this agenda. Please complete a “Public Comments
Form” and present it to the Town Secretary prior to the meeting.)
Other Comments by the Public –
Page 5 of 5
Samantha Dickey with The Initiative Scholarship Foundation passed out information and spoke to
Council inviting them to attend a program benefiting youth health and wellness set for Saturday,
January 19, 2014 at 7 p.m. at the Gentle Creek Country Club. Ms. Dickey explained that the
scholarship foundation was created to help address the problem of childhood obesity in lower socio-
economic populations. Ms. Dickey also expressed interest in partnering with Prosper employees to
create health and wellness program.
11. Possibly direct Town Staff to schedule topic(s) for discussion at a future meeting. No action was
taken on this item.
12. Adjourn. Deputy Mayor Pro Tem Dugger made a motion to adjourn. Motion seconded by Council
Member Wilson. Motion approved by vote of 6-0.
The meeting adjourned at 8:08 p.m.
APPROVED:
___________________________________
Ray Smith, Mayor
ATTEST:
_______________________________
Amy M. Piukana, TRMC
Town Secretary
To: Mayor and Town Council
From: Chris Copple, AICP, Planning Director
Cc: Lyle Dresher, Interim Town Manager
Hulon T. Webb, Jr., P.E., Director of Development Services/Town Engineer
Re: Town Council Meeting – January 22, 2013
Date: January 15, 2013
Agenda Item:
Consider and act upon Ordinance No. 13-02 rezoning 10.5± acres, located on the north side of
Prosper Trail, 2,500± feet west of Dallas Parkway, from Single Family-15 to Planned Development-
Single Family-10 (PD-SF-10). (Z12-0008).
Description of Agenda Item:
On January 8, 2013, the Town Council approved zoning case Z12-0008, by a vote of 6-0. Town
staff has prepared an ordinance rezoning the property.
Budget Impact:
There are no significant budget implications associated with the approval of this zoning request.
Legal Obligations and Review:
Zoning Ordinance 05-20 requires that the Town Council hold a public hearing before approving a
zoning request and adopting an ordinance rezoning property. A public hearing has been held and
the Town Council approved the zoning case. The ordinance has been prepared. Review of the
ordinance by the Town Attorney is not required.
Attached Documents:
1. Ordinance No. 13-02
Town Staff Recommendation:
Town staff recommends the Town Council adopt Ordinance No. 13-02, rezoning 10.5± acres,
located on the north side of Prosper Trail, 2,500± feet west of Dallas Parkway, from Single
Family-15 to Planned Development-Single Family-10 (PD-SF-10).
Prosper is a place where everyone matters.
PLANNING
TOWN OF PROSPER, TEXAS ORDINANCE NO. 13-02
AN ORDINANCE AMENDING PROSPER’S ZONING ORDINANCE NO. 05-20;
REZONING A TRACT OF LAND CONSISTING OF 10.445 ACRES, MORE OR
LESS, SITUATED IN THE COLLIN COUNTY LAND SURVEY 12, ABSTRACT
NO. 147, IN THE TOWN OF PROSPER, COLLIN COUNTY, TEXAS,
HERETOFORE ZONED SINGLE FAMILY-15 (SF-15) IS HEREBY REZONED
AND PLACED IN THE ZONING CLASSIFICATION OF PLANNED
DEVELOPMENT-SINGLE FAMILY-10 (PD-SF-10); DESCRIBING THE TRACT
TO BE REZONED; PROVIDING FOR A PENALTY FOR THE VIOLATION OF
THIS ORDINANCE; PROVIDING FOR REPEALING, SAVING AND
SEVERABILITY CLAUSES; PROVIDING FOR AN EFFECTIVE DATE OF
THIS ORDINANCE; AND PROVIDING FOR THE PUBLICATION OF THE
CAPTION HEREOF.
WHEREAS, the Town Council of the Town of Prosper, Texas (the “Town Council”) has
investigated and determined that Zoning Ordinance No. 05-20 should be amended; and
WHEREAS, the Town of Prosper, Texas (“Prosper”) has received a request from Mike A. Myers
Investment Holdings, LP (“Applicant”) to rezone 10.445 acres of land, more or less, situated in the Collin
County School Land Survey 12, Abstract No. 147, in the Town of Prosper, Collin County, Texas; and
WHEREAS, the Town Council has investigated into and determined that the facts contained in
the request are true and correct; and
WHEREAS, all legal notices required for rezoning have been given in the manner and form set
forth by law, and public hearings have been held on the proposed rezoning and all other requirements of
notice and completion of such zoning procedures have been fulfilled; and
WHEREAS, the Town Council has further investigated into and determined that it will be
advantageous and beneficial to Prosper and its inhabitants to rezone this property as set forth below.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS:
SECTION 1: Findings Incorporated. The findings set forth above are incorporated into the body
of this Ordinance as if fully set forth herein.
SECTION 2: Amendments to Zoning Ordinance No. 05-20. Zoning Ordinance No. 05-20 is
amended as follows: The zoning designation of the below-described property containing 10.445 acres of
land, more or less, situated in the Collin County School Land Survey 12, Abstract No. 147, in the Town
of Prosper, Collin County, Texas, (the “Property”) and all streets, roads and alleyways contiguous and/or
adjacent thereto is hereby rezoned as Planned Development -Single Family-10 (PD-SF-10). The property
as a whole and the boundaries for each zoning classification are more particularly described in Exhibit
“A” attached hereto and incorporated herein for all purposes as if set forth verbatim.
The development plans, standards, and uses for the Property in this Planned Development District
shall conform to, and comply with 1) the statement of intent and purpose, attached hereto as Exhibit “B”;
2) the planned development standards, attached hereto as Exhibit “C”; 3) the concept plan, attached
hereto as Exhibit “D”; 4) and the development schedule, attached hereto as Exhibit “E”, which are
incorporated herein for all purposes as if set forth verbatim. Except as amended by this Ordinance, the
development of the Property within this Planned Development District must comply with the
requirements of all ordinances, rules, and regulations of Prosper, as they currently exist or may be
amended.
Three original, official and identical copies of the zoning exhibit map are hereby adopted and
shall be filed and maintained as follows:
a. Two (2) copies shall be filed with the Town Secretary and retained as original records and
shall not be changed in any matter.
b. One (1) copy shall be filed with the Building Official and shall be maintained up-to-date by
posting thereon all changes and subsequent amendments for observation, issuing building
permits, certificates of compliance and occupancy and enforcing the Zoning Ordinance.
Reproduction for information purposes may from time-to-time be made of the official zoning
district map.
Written notice of any amendment to this Planned Development District shall be sent to all
property owners within two hundred feet (200’) of the specific area to be amended.
SECTION 3: No Vested Interest/Repeal. No developer or property owner shall acquire any vested
interest in this Ordinance or in any other specific regulations contained herein. Any portion of this
Ordinance may be repealed by the Town Council in the manner provided for by law.
SECTION 4: Unlawful Use of Premises. It shall be unlawful for any person, firm or corporation
to make use of said premises in some manner other than as authorized by this Ordinance, and shall be
unlawful for any person, firm or corporation to construct on said premises any building that is not in
conformity with the permissible uses under this Zoning Ordinance.
SECTION 5: Penalty. Any person, firm, corporation or business entity violating this Ordinance or
any provision of Prosper’s Zoning Ordinance No. 05-20, or as amended, shall be deemed guilty of a
misdemeanor, and upon conviction thereof shall be fined any sum not exceeding Two Thousand Dollars
($2,000.00). Each continuing day’s violation under this Ordinance shall constitute a separate offense.
The penal provisions imposed under this Ordinance shall not preclude Prosper from filing suit to enjoin
the violation. Prosper retains all legal rights and remedies available to it pursuant to local, state and
federal law.
SECTION 6: Severability. Should any section, subsection, sentence, clause or phrase of this
Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is expressly
provided that any and all remaining portions of this Ordinance shall remain in full force and effect.
Prosper hereby declares that it would have passed this Ordinance, and each section, subsection, clause or
phrase thereof irrespective of the fact that any one or more sections, subsections, sentences, clauses and
phrases be declared unconstitutional or invalid.
SECTION 7: Savings/Repealing Clause. Prosper’s Zoning Ordinance No. 05-20 shall remain in
full force and effect, save and except as amended by this or any other Ordinance. All provisions of any
ordinance in conflict with this Ordinance are hereby repealed to the extent they are in conflict; but such
repeal shall not abate any pending prosecution for violation of the repealed ordinance, nor shall the appeal
prevent a prosecution from being commenced for any violation if occurring prior to the repealing of the
ordinance. Any remaining portions of said ordinances shall remain in full force and effect.
SECTION 8: Effective Date. This Ordinance shall become effective from and after its adoption
and publications as required by law.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS ON THIS 22nd DAY OF JANUARY, 2013.
APPROVED AS TO FORM:
______________________________
Ray Smith, Mayor
ATTESTED TO AND
CORRECTLY RECORDED BY:
____________________________
Amy Piukana, Town Secretary
DATE OF PUBLICATION: ____________________________, Prosper Press
EXHIBIT B FOR Z12-0008
STATEMENT OF INTENT AND PURPOSE
The purpose of this planned development is to contribute to the positive environment created by the PD
regulations established for Legacy Crossing. The proposed development standards mirror those
previously adopted by the Legacy Crossing Planned Development. This property will further the design for
the entrance, common areas, and buffer treatments established for Legacy Crossing.
This planned development will also allow the opportunity for an addition entrance to Legacy Crossing which
will further the positive atmosphere created by that community.
EXHIBIT C FOR Z12-0008
10.445 ACRES (GROSS)
PLANNED DEVELOPMENT STANDARDS
1.0 Planned Development District - Single Family Residential
1.1 The property shall be developed in accordance with the Single Family-10 District as outlined
in the Town of Prosper Zoning Ordinance 05-20, as it exists or may be amended, unless
identified below.
1.2 Development Pattern: The property shall generally develop in accordance with Exhibit
D, Zoning Exhibit. No single-family lots shall be located within 750 feet of the
Prosper Trail right-of-way.
1.3 Number of Lots: The maximum number of single-family residential lots within the proposed
development shall not exceed 17.
1.4 Setbacks
a. Minimum Front Yard: 25'.
b. Minimum Side Yard: 8', 15' on corner adjacent to a side street.
c. Minimum Rear Yard: 25'.
1.5 Minimum Lot Area: 11,000 square feet.
1.6 Minimum Lot Width at Front Building Line: 80'.
1.7 Minimum Lot Depth: 120’.
1.8 Minimum Dwelling Area: 1,800 square feet.
1.9 Maximum Height: Buildings shall be a maximum of 2 1/2 stories, not to exceed 40' in height.
1.10 Maximum Lot Coverage: 45%.
1.11 Required Parking: A minimum of 4 off-street, concrete parking spaces shall be provided for
each residential unit. As part of the parking requirement, at least 2 of the off-street parking
spaces shall be in an enclosed garage. Garage doors shall be located on or behind the
applicable setback line for the residential unit. Detached, stand-alone carports shall be
prohibited. The parking of motor homes, boats, and/or trailers on a lot facing a street or on
a street, is prohibited.
1.12 Fencing: All lots adjacent to designated open spaces shall be restricted to ornamental metal
fencing. All wood fencing shall be a minimum of stained/sealed board to board with metal
poles and meet the town’s fencing regulations as they exist or may be amended.
2.0 General Conditions
2.01 Homeowners Association. Each lot shall be a member of the Legacy Crossing (PD-36)
Homeowner's Association.
Exhibit E for Z12-0008
10.445 Acres (Gross)
Development Schedule
12/17/12 – Development Application Submitted
1/15/13 – Preliminary plat goes to P&Z
2/12/13 – Preliminary plat goes to Council
3/1/13 – Phase 1 construction plans approved
3/22/13 – Construction begins
1/6/14 – Construction Complete/Town accepts infrastructure
1/13/14 – Final plat file
To: Mayor and Town Council
From: Chris Copple, AICP, Planning Director
Cc: Lyle Dresher, Interim Town Manager
Hulon T. Webb, Jr., P.E., Director of Development Services/Town Engineer
Re: Town Council Meeting – January 22, 2013
Date: January 15, 2013
Agenda Item:
Consider and act upon Ordinance No. 13-03 rezoning 5.1± acres, located on the southeast corner
of Fishtrap Road and Good Hope Road, from Agricultural (A) to Single Family-10 (SF-10). (Z12-
0010).
Description of Agenda Item:
On January 8, 2013, the Town Council approved zoning case Z12-0010, by a vote of 6-0. Town
staff has prepared an ordinance rezoning the property.
Budget Impact:
There are no significant budget implications associated with the approval of this zoning request.
Legal Obligations and Review:
Zoning Ordinance 05-20 requires that the Town Council hold a public hearing before approving a
zoning request and adopting an ordinance rezoning property. A public hearing has been held and
the Town Council approved the zoning case. The ordinance has been prepared. Review of the
ordinance by the Town Attorney is not required.
Attached Documents:
1. Ordinance No. 13-03
Town Staff Recommendation:
Town staff recommends the Town Council adopt Ordinance 13-03, rezoning 5.1± acres,
located on the southeast corner of Fishtrap Road and Good Hope Road, from Agricultural
(A) to Single Family-10 (SF-10).
Prosper is a place where everyone matters.
PLANNING
TOWN OF PROSPER, TEXAS ORDINANCE NO. 13-03
AN ORDINANCE AMENDING PROSPER’S ZONING ORDINANCE NO. 05-20;
REZONING A TRACT OF LAND CONSISTING OF 5.115 ACRES, MORE OR
LESS, SITUATED IN THE J. BATES SURVEY, ABSTRACT NO. 1620, IN THE
TOWN OF PROSPER, DENTON COUNTY, TEXAS, HERETOFORE ZONED
AGRICULTURAL (A) IS HEREBY REZONED AND PLACED IN THE ZONING
CLASSIFICATION OF SINGLE FAMILY-10 (SF-10); DESCRIBING THE
TRACT TO BE REZONED; PROVIDING FOR A PENALTY FOR THE
VIOLATION OF THIS ORDINANCE; PROVIDING FOR REPEALING, SAVING
AND SEVERABILITY CLAUSES; PROVIDING FOR AN EFFECTIVE DATE OF
THIS ORDINANCE; AND PROVIDING FOR THE PUBLICATION OF THE
CAPTION HEREOF.
WHEREAS, the Town Council of the Town of Prosper, Texas (the “Town Council”) has
investigated and determined that Zoning Ordinance No. 05-20 should be amended; and
WHEREAS, the Town of Prosper, Texas (“Prosper”) has received a request from TVG Texas I,
LLC (“Applicant”) to rezone 5.115 acres of land, more or less, situated in the J. Bates Survey, Abstract
No. 1620, in the Town of Prosper, Denton County, Texas; and
WHEREAS, the Town Council has investigated into and determined that the facts contained in
the request are true and correct; and
WHEREAS, all legal notices required for rezoning have been given in the manner and form set
forth by law, and public hearings have been held on the proposed rezoning and all other requirements of
notice and completion of such zoning procedures have been fulfilled; and
WHEREAS, the Town Council has further investigated into and determined that it will be
advantageous and beneficial to Prosper and its inhabitants to rezone this property as set forth below.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS:
SECTION 1: Findings Incorporated. The findings set forth above are incorporated into the body
of this Ordinance as if fully set forth herein.
SECTION 2: Amendments to Zoning Ordinance No. 05-20. Zoning Ordinance No. 05-20 is
amended as follows: The zoning designation of the property containing 5.115 acres of land, more or less,
situated in the J. Bates Survey, Abstract No. 1620, in the Town of Prosper, Denton County, Texas, (the
“Property”) and all streets, roads and alleyways contiguous and/or adjacent thereto is hereby rezoned as
Single Family-10 (SF-10). The Property as a whole and for this zoning classification is more particularly
described in Exhibit “A” attached hereto and incorporated herein for all purposes as if set forth verbatim.
All development plans, standards, and uses for the Property shall comply fully with the
requirements of all ordinances, rules, and regulations of the Town of Prosper, as they currently exist or
may be amended.
Three original, official and identical copies of the zoning exhibit map are hereby adopted and
shall be filed and maintained as follows:
a. Two (2) copies shall be filed with the Town Secretary and retained as original records and
shall not be changed in any matter.
b. One (1) copy shall be filed with the Building Official and shall be maintained up-to-date by
posting thereon all changes and subsequent amendments for observation, issuing building
permits, certificates of compliance and occupancy and enforcing the Zoning Ordinance.
Reproduction for information purposes may from time-to-time be made of the official zoning
district map.
Written notice of any amendment to this District shall be sent to all owners of properties within
the District as well as all properties within two hundred feet (200’) of the District to be amended.
SECTION 3: No Vested Interest/Repeal. No developer or property owner shall acquire any vested
interest in this Ordinance or in any other specific regulations contained herein. Any portion of this
Ordinance may be repealed by the Town Council in the manner provided for by law.
SECTION 4: Unlawful Use of Premises. It shall be unlawful for any person, firm or corporation
to make use of said premises in some manner other than as authorized by this Ordinance, and shall be
unlawful for any person, firm or corporation to construct on said premises any building that is not in
conformity with the permissible uses under this Zoning Ordinance.
SECTION 5: Penalty. Any person, firm, corporation or business entity violating this Ordinance or
any provision of Prosper’s Zoning Ordinance No. 05-20, or as amended, shall be deemed guilty of a
misdemeanor, and upon conviction thereof shall be fined any sum not exceeding Two Thousand Dollars
($2,000.00). Each continuing day’s violation under this Ordinance shall constitute a separate offense.
The penal provisions imposed under this Ordinance shall not preclude Prosper from filing suit to enjoin
the violation. Prosper retains all legal rights and remedies available to it pursuant to local, state and
federal law.
SECTION 6: Severability. Should any section, subsection, sentence, clause or phrase of this
Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is expressly
provided that any and all remaining portions of this Ordinance shall remain in full force and effect.
Prosper hereby declares that it would have passed this Ordinance, and each section, subsection, clause or
phrase thereof irrespective of the fact that any one or more sections, subsections, sentences, clauses and
phrases be declared unconstitutional or invalid.
SECTION 7: Savings/Repealing Clause. Prosper’s Zoning Ordinance No. 05-20 shall remain in
full force and effect, save and except as amended by this or any other Ordinance. All provisions of any
ordinance in conflict with this Ordinance are hereby repealed to the extent they are in conflict; but such
repeal shall not abate any pending prosecution for violation of the repealed ordinance, nor shall the appeal
prevent a prosecution from being commenced for any violation if occurring prior to the repealing of the
ordinance. Any remaining portions of said ordinances shall remain in full force and effect.
SECTION 8: Effective Date. This Ordinance shall become effective from and after its adoption
and publications as required by law.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS ON THIS 22nd DAY OF JANUARY, 2013.
APPROVED AS TO FORM:
______________________________
Ray Smith, Mayor
ATTESTED TO AND
CORRECTLY RECORDED BY:
_________________________________
Amy Piukana, Town Secretary
DATE OF PUBLICATION: ____________________________, Prosper Press
To: Mayor and Town Council
From: Chris Copple, AICP, Planning Director
Cc: Lyle Dresher, Interim Town Manager
Hulon T. Webb, Jr., P.E., Director of Development Services/Town Engineer
Re: Town Council Meeting – January 22, 2013
Date: January 15, 2013
Agenda Item:
A public hearing to consider and act upon an amendment to Chapter 2, Section 25 (Specific Use
Permits); Chapter 3, Section 1 (Use of Land and Buildings) and Section 2 (Definitions); and
Chapter 4, Section 4 (Parking Requirements), of the Town’s Zoning Ordinance relating to, among
other things, certain definitions, uses and regulations pertaining to alcoholic beverages. (Z12-
0009).
History:
At the January 8, 2013 Town Council meeting, the Town Council continued the public hearing to
the January 22, 2013 meeting by a vote of 6-0.
Description of Agenda Item:
The Town Attorney has drafted an amendment to the Town’s Zoning Ordinance, updating the
Town’s land use charts and regulations pertaining to alcoholic beverages. The Town Attorney will
be in attendance at the January 22, 2013 Town Council meeting to address any questions.
Budget Impact:
There are no significant budget implications associated with the approval of this amendment to the
Zoning Ordinance.
Legal Obligations and Review:
The Town Attorney drafted the attached ordinance. Town staff has notified the public hearing as
required by state law.
Attached Documents:
1. An ordinance amending Chapter 2, Section 25 (Specific Use Permits); Chapter 3, Section 1
(Use of Land and Buildings) and Section 2 (Definitions); and Chapter 4, Section 4 (Parking
Requirements), of the Town’s Zoning Ordinance relating to, among other things, certain
definitions, uses and regulations pertaining to alcoholic beverages.
Planning & Zoning Commission Recommendation:
At their December 18, 2012 meeting, the Planning & Zoning Commission recommended the Town
Council approve an amendment to Chapter 2, Section 25 (Specific Use Permits); Chapter 3,
Prosper is a place where everyone matters.
PLANNING
Section 1 (Use of Land and Buildings) and Section 2 (Definitions); and Chapter 4, Section 4
(Parking Requirements), of the Town’s Zoning Ordinance relating to, among other things, certain
definitions, uses and regulations pertaining to alcoholic beverages, by a vote of 5-0.
Town Staff Recommendation:
Town staff recommends the Town Council review the attached ordinance. The Town Attorney
will be in attendance at the January 22, 2013 Town Council meeting to provide further
direction.
Ordinance – Prosper Alcohol Regulations Page 1
619375.3
TOWN OF PROSPER, TEXAS ORDINANCE NO. 13-01
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, AMENDING SECTION 2 (DEFINITIONS) OF
CHAPTER 3 (PERMITTED USES AND DEFINITIONS); AMENDING
SUBSECTION 1.4 (CONDITIONAL DEVELOPMENT STANDARDS) OF
SECTION 1 (USE OF LAND AND BUILDINGS) OF CHAPTER 3
(PERMITTED USES AND DEFINITIONS); DELETING SUBSECTION
25.4 (SPECIFIC USE PERMIT FOR PRIVATE CLUB) OF SECTION 25
(SPECIFIC USE PERMITS) OF CHAPTER 2 (ZONING DISTRICTS);
AMENDING PARAGRAPH 16 (BEER & WINE PACKAGE SALES) AND
PARAGRAPH 26 (RESTAURANT OR CAFETERIA) OF SUBSECTION
1.4 (CONDITIONAL DEVELOPMENT STANDARDS) OF SECTION 1
(USE OF LAND AND BUILDINGS) OF CHAPTER 3 (PERMITTED USES
AND DEFINITIONS); AMENDING SECTION 1.3(G) (SERVICE USES)
OF SECTION 1 (USE OF LAND AND BUILDINGS) OF CHAPTER 3
(PERMITTED USES AND DEFINITIONS); AMENDING SECTION 1.3(F)
(RETAIL USES) OF SECTION 1 (USE OF LAND AND BUILDINGS) OF
CHAPTER 3 (PERMITTED USES AND DEFINITIONS); AMENDING
SECTION 4.5 (PARKING REQUIREMENTS BASED ON USE) OF
SECTION 4 (PARKING AND LOADING) OF CHAPTER 4
(DEVELOPMENT REQUIREMENTS) OF THE TOWN OF PROSPER’S
ZONING ORDINANCE NO. 05-20 RELATING TO, AMONG OTHER
THINGS, CERTAIN DEFINITIONS, USES AND REGULATIONS
PERTAINING TO ALCOHOLIC BEVERAGES; PROVIDING FOR
REPEALING, SAVINGS AND SEVERABILITY CLAUSES; PROVIDING
FOR A PENALTY FOR THE VIOLATION OF THIS ORDINANCE;
PROVIDING FOR AN EFFECTIVE DATE OF THIS ORDINANCE; AND
PROVIDING FOR THE PUBLICATION OF THIS ORDINANCE.
WHEREAS, the Town Council of the Town of Prosper, Texas (“Town Council”) has
investigated and determined that it is in the best interest of the citizens of the Town of Prosper,
Texas (“Prosper”) to amend Section 2 (Definitions) of Chapter 3 (Permitted Uses and
Definitions); amend Subsection 1.4 (Conditional Development Standards) of Section 1 (Use of
Land and Buildings) of Chapter 3 (Permitted Uses and Definitions); delete Subsection 25.4
(Specific Use Permit for Private Club) of Section 25 (Specific Use Permits) of Chapter 2 (Zoning
Districts); amend Paragraph 16 (Beer & Wine Package Sales) and Paragraph 26 (Restaurant or
Cafeteria) of Subsection 1.4 (Conditional Development Standards) of Section 1 (Use of Land and
Buildings) of Chapter 3 (Permitted Uses and Definitions); amend Section 1.3(G) (Service Uses)
of Section 1 (Use of Land and Buildings) of Chapter 3 (Permitted Uses and Definitions); amend
Section 1.3(F) (Retail Uses) of Section 1 (Use of Land and Buildings) of Chapter 3 (Permitted
Ordinance – Prosper Alcohol Regulations Page 2
619375.3
Uses and Definitions); amend Section 4.5 (Parking Requirements Based on Use) of Section 4
(Parking and Loading) of Chapter 4 (Development Requirements) of the Town of Prosper’s
Zoning Ordinance No. 05-20 (“Prosper Zoning Ordinance”) relating to, among other things,
certain definitions, uses and regulations pertaining to alcoholic beverages, as set forth below.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF PROSPER, TEXAS:
SECTION 1: Findings Incorporated. The findings set forth above are incorporated
into the body of this Ordinance as if fully set forth herein.
SECTION 2. Amending Section 2 (Definitions) of Chapter 3 (Permitted Uses and
Definitions) of Prosper’s Zoning Ordinance. Section 2 (Definitions) of Chapter 3 (Permitted
Uses and Definitions) of Prosper’s Zoning Ordinance is hereby amended to delete the definition
of Beer & Wine Package Sales, amend the definition of Private Club and add definitions for
Alcoholic Beverage Establishment and Alcoholic Beverage Sales as follows:
“Section 2
Definitions
…
Alcoholic Beverage Establishment – Any establishment that derives seventy-five
percent (75%) or more of its gross revenues on a quarterly basis from the sale or service
of alcoholic beverages, as defined in the Texas Alcoholic Beverage Code, as amended,
for on-premise consumption.
…
Alcoholic Beverage Sales - Any establishment, place of business, or person engaged in
the selling of alcoholic beverages, as defined in the Texas Alcoholic Beverage Code, as
amended, to the general public for off-premise personal or household consumption.
…
Beer & Wine Package Sales – An establishment engaged in the selling of beer and/or
wine to the general public for off-site personal or household consumption and rendering
services incidental to the sale of such goods.
…
Ordinance – Prosper Alcohol Regulations Page 3
619375.3
Private Club – an establishment holding a Private Club permit under Chapter 32 or 33
of the Texas Alcoholic Beverage Code, as amended, that derives thirty-five percent
(35%) or more of its gross revenue from the sale or service of alcoholic beverages for on-
premise consumption and that is located within a dry area as defined in Title 6 (Local
Option Elections) of the Texas Alcoholic Beverage Code, as amended. Private Club does
not include a fraternal or veteran’s organization, as defined in the Texas Alcoholic
Beverage Code, as amended, holding a Private Club permit under Chapter 32 or 33 of the
Texas Alcoholic Beverage Code. A Private Club does not include the holder of a food
and beverage certificate, as defined in the Texas Alcoholic Beverage Code, as amended.
Unless the person owning or operating the use supplies the building official with records
to prove otherwise, an establishment holding a Private Club permit under Chapter 32 or
33 of the Texas Alcoholic Beverage Code, as amended, is presumed to derive thirty-five
percent (35%) or more of its gross revenue from the sale or service of alcoholic
beverages for on-premise consumption.”
SECTION 3. Amending Subsection 1.4 (Conditional Development Standards) of
Section 1 (Use of Land and Buildings) of Chapter 3 (Permitted Uses and Definitions) of
Prosper’s Zoning Ordinance. Subsection 1.4 (Conditional Development Standards) of Section
1 (Use of Land and Buildings) of Chapter 3 (Permitted Uses and Definitions) of Prosper’s
Zoning Ordinance is hereby amended to add Paragraph 29 (Private Club) and Paragraph 30
(Alcoholic Beverage Establishment) to read as follows:
“1.4 CONDITIONAL DEVELOPMENT STANDARDS:
…
29. Private Club
a) Private Clubs shall be subject to compliance with the Texas
Alcoholic Beverage Code, as amended, and any applicable local
option elections.
b) A Private Club is permitted only by specific use permit in R, C and
CC zoning districts. A Private Club is also permitted by specific
Ordinance – Prosper Alcohol Regulations Page 4
619375.3
use permit as an accessory use in any zoning district only when in
conjunction with the operation of a golf course.
c) A Private Club shall not be located within:
1. Eight hundred (800) feet from a church, public hospital,
public school, private school, and/or residential zoning
district. For this purpose, residential zoning districts shall
include, but are not limited to, properties that are zoned
Neighborhood Service and residential Planned
Development Districts;
2. One Thousand (1000) feet from a public school if the Town
Council receives a request for this additional spacing
requirement from the school district, and the Town Council
adopts such additional spacing requirements by resolution;
or
3. One Thousand (1000) feet from a private school if the
Town Council receives a request for this additional spacing
requirement from the board of the private school, and the
Town Council adopts the additional spacing requirements
by resolution.
d) Measurement for the distance between a Private Club and the uses
listed above or the nearest residential zoning district shall be in a
straight line from the nearest property line of the lot where the
Private Club is located, without regard to intervening structures or
objects, to the nearest property line of the lot where the church,
public hospital, public school, and/or private school is located.
30. Alcoholic Beverage Establishment
a) Alcoholic Beverage Establishments shall be subject to compliance
with the Texas Alcoholic Beverage Code, as amended, and any
applicable local option elections.
Ordinance – Prosper Alcohol Regulations Page 5
619375.3
b) An Alcoholic Beverage Establishment is permitted only by specific
use permit in R, C and CC zoning districts.
c) An Alcoholic Beverage Establishment shall not be located within:
1. Eight Hundred (800) feet from a church, public hospital,
public school, private school, and/or residential zoning
district. For this purpose, residential zoning districts shall
include, but is not limited to, properties that are zoned
Neighborhood Service and residential Planned
Development Districts;
2. One Thousand (1000) feet from a public school if the Town
Council receives a request for this additional spacing
requirement from the school district, and the Town Council
adopts such additional spacing requirements by resolution;
or
3. One Thousand (1000) feet from a private school if the
Town Council receives a request for this additional spacing
requirement from the board of the private school, and the
Town Council adopts the additional spacing requirements
by resolution.
d) Measurement for the distance between an Alcoholic Beverage
Establishment and the uses listed above or the nearest residential
zoning district shall be in a straight line from the nearest property
line of the lot where the Alcoholic Beverage Establishment is
located, without regard to intervening structures or objects, to the
nearest property line of the lot where the church, public hospital,
public school, and/or private school is located. ”
SECTION 4. Deleting Subsection 25.4 (Specific Use Permit for Private Club) of
Section 25 (Specific Use Permits) of Chapter 2 (Zoning Districts) of Prosper’s Zoning
Ordinance. Subsection 25.4 (Specific Use Permit for Private Club) of Section 25 (Specific Use
Permits) of Chapter 2 (Zoning Districts) of Prosper’s Zoning Ordinance is hereby deleted in its
entirety.
Ordinance – Prosper Alcohol Regulations Page 6
619375.3
SECTION 5. Amending Paragraph 16 (Beer & Wine Package Sales) and
Paragraph 26 (Restaurant or Cafeteria) of Subsection 1.4 (Conditional Development
Standards) of Section 1 (Use of Land and Buildings) of Chapter 3 (Permitted Uses and
Definitions) of Prosper’s Zoning Ordinance. Paragraph 16 (Beer & Wine Package Sales) and
Paragraph 26 (Restaurant or Cafeteria) of Subsection 1.4 (Conditional Development Standards)
of Section 1 (Use of Land and Buildings) of Chapter 3 (Permitted Uses and Definitions) of
Prosper’s Zoning Ordinance, is hereby amended and replaced as follows:
“1.4 CONDITIONAL DEVELOPMENT STANDARDS:
…
16. Alcoholic Beverage Sales:
Alcoholic Beverage Sales, as defined by the Prosper Zoning Ordinance, as
amended, shall mean any establishment, place of business or person
engaged in the selling of alcoholic beverages, as defined in the Texas
Alcoholic Beverage Code, as amended, to the general public for off-
premise personal or household consumption.
a) Alcoholic Beverage Sales shall be subject to compliance with the
Texas Alcoholic Beverage Code, as amended, and any applicable
local option elections.
b) Alcoholic Beverage Sales are permitted only in the NS, DTR, R,
DTC, C, CC and I zoning districts.
c) Beer sales are not permitted in residential zoning districts.
d) Alcoholic Beverage Sales shall not be located within the
following:
1. Three hundred (300) feet from a church, public school,
and/or private school. However, Alcoholic Beverage Sales
may be located within three hundred (300) feet of a private
school if minors are prohibited from entering the place of
business, as required by Section 109.53 of the Texas
Alcoholic Beverage Code, as amended;
Ordinance – Prosper Alcohol Regulations Page 7
619375.3
2. One thousand (1,000) feet from a private school if the
Town Council receives a request for this additional spacing
requirement from the board of the private school, and the
Town Council adopts the additional spacing requirements
by resolution. But, the Town Council may not adopt this
additional spacing requirement if minors are prohibited
from entering the place of business engaged in Alcoholic
Beverage Sales, pursuant to Section 109.53 of the Texas
Alcoholic Beverage Code, as amended.
e) Measurement of the distance between the place of business
engaged in Alcoholic Beverage Sales and the church or public
hospital shall be along the property line of the street fronts, from
front door to front door, and in a direct line across intersections.
Measurement for the distance between the place of business
engaged in Alcoholic Beverage Sales and a public or private
school shall be:
1. In a direct line from the property line of the public or
private school to the property line of the place of business,
and in a direct line across intersections; or
2. If Alcoholic Beverage Sales are located on or above the
fifth (5th) story of a multistory building, in a direct line
from the property line of the public or private school to the
property line of the place of business, in a direct line across
intersections, and vertically up the building at the property
line to the base floor on which Alcoholic Beverage Sales
are located.
f) In accordance with Texas Alcoholic Beverage Code, Section
109.33, in this Paragraph 16, “private school” means a private
school, including a parochial school, that:
1. Offers a course of instruction for students in one or more
grades from kindergarten through grade twelve; or
Ordinance – Prosper Alcohol Regulations Page 8
619375.3
2. Has more than one hundred (100) students enrolled and
attending courses at a single location.
g) If at any time an original alcoholic beverage permit or license is
granted by the Texas Alcoholic Beverage Commission to an
establishment, place of business, or person and the establishment,
place of business or person satisfies the requirements regarding the
distance requirements in this Paragraph 16, then the same shall be
deemed to satisfy the distance requirements for all subject
renewals of the license or permit. This shall not be the case if the
Texas Alcoholic Beverage Commission revokes the license or
permit.
…
26. Restaurant or Cafeteria:
a) A Restaurant or Cafeteria is permitted by specific use permit in the
NS zoning district and is permitted by right in the O, DTO, DTR,
R, DTC, C, and CC zoning districts subject.
b) Restaurants with drive-through are only permitted in the R, C, and
CC zoning districts.
c) Restaurants or Cafeterias that sell alcohol shall be subject to
compliance with the Texas Alcoholic Beverage Code, as amended,
and any applicable local option elections.
d) A Restaurant or Cafeteria that sells alcohol shall not be located
within the following:
1. Three hundred (300) feet from a church, public hospital,
and/or public school; or
2. One thousand (1000) feet from a public school if the Town
Council receives a request for this additional spacing
requirement from the school district, and the Town Council
adopts such additional spacing requirements by resolution.
Ordinance – Prosper Alcohol Regulations Page 9
619375.3
e) Measurement for the distance between a Restaurant or Cafeteria
where alcohol beverages are sold and a church or public hospital
shall be along the property lines of the street fronts, from front
door to front door, and in a direct line across intersections.
f) Measurement for the distance between a Restaurant or Cafeteria
where alcoholic beverages are sold and a public school shall be:
1. In a direct line from the property line of the public school
to the property line of the place of business, and in a direct
line across intersections; or
2. If the restaurant that sells alcohol is located on or above the
fifth story of a multistory building, in a direct line from the
property line of the public school to the property line of the
place of business, in a direct line across intersections, and
vertically up the building at the property line to the base of
the floor on which the Restaurant or Cafeteria is located.
g) If a Restaurant or Cafeteria receives seventy-five percent (75%) or
more of its gross revenue on a quarterly basis from the sale or
service of alcoholic beverages for on-premise consumption, the use
will no longer qualify as a Restaurant or Cafeteria and will be
classified and regulated by the Town as an Alcoholic Beverage
Establishment under the Prosper Zoning Ordinance.”
SECTION 6. Amending Section 1.3(G) (Service Uses) of Section 1 (Use of Land
and Buildings) of Chapter 3 (Permitted Uses and Definitions) of Prosper’s Zoning
Ordinance. Section 1.3(G) (Service Uses) of Section 1(Use of Land and Buildings) of Chapter 3
(Permitted Uses and Definitions) of Prosper’s Zoning Ordinance is hereby amended as follows:
“…
SECTION 1.3(G) Residential Districts Non-Residential Districts
Ordinance – Prosper Alcohol Regulations Page 10
619375.3
SERVICE USES A - Agricultural SF – Single Family (E – 10) DTSF – Downtown SF TH - Townhome 2F – Two Family MF – Multifamily MH – Mobile Home O – Office DTO – Downtown Office NS – Neighborhood Service DTR – Downtown Retail R – Retail DTC – Downtown Commercial C – Commercial CC – Commercial Corridor I – Industrial
Alcoholic Beverage Establishment 30 30 30
…
Private Club 29 29 29 …
Restaurant or Cafeteria 26 26 26 26 26 26 26 26
…”
SECTION 7. Amending Section 1.3(F) (Retail Uses) of Section 1 (Use of Land and
Buildings) of Chapter 3 (Permitted Uses and Definitions) of Prosper’s Zoning Ordinance.
Section 1.3(F) (Retail Uses) of Section 1 (Use of land and Buildings) of Chapter 3 (Permitted
Uses and Definitions) of Prosper’s Zoning Ordinance is amended to delete Beer & Wine Package
Sales and add Alcoholic Beverage Sales as follows:
“…
SECTION 1.3(F) RETAIL USES
Residential Districts Non-Residential Districts A - Agricultural SF – Single Family (E – 10) DTSF – Downtown SF TH - Townhome 2F – Two Family MF – Multifamily MH – Mobile Home O – Office DTO – Downtown Office NS – Neighborhood Service DTR – Downtown Retail R – Retail DTC – Downtown Commercial C – Commercial CC – Commercial Corridor I – Industrial
Alcoholic Beverage Sales 16 16 16 16 16 16 16
…”
Ordinance – Prosper Alcohol Regulations Page 11
619375.3
SECTION 8: Amending Section 4.5 (Parking Requirements Based on Use) of
Section 4 (Parking and Loading) of Chapter 4 (Development Requirements) of Prosper’s
Zoning Ordinance. Section 4.5 (Parking Requirements Based on Use) of Section 4 (Parking
and Loading) of Chapter 4 (Development Requirements) of Prosper’s Zoning Ordinance is
hereby amended as follows:
“4.5 PARKING REQUIREMENTS BASED ON USE
…
• Retail Store, Except as Otherwise Specified Herein: One (1) space per two
hundred and fifty (250) square feet of gross floor area.”
SECTION 9: Penalty Provision. Any person, firm, corporation or entity violating this
Ordinance or any provision of Prosper’s Zoning Ordinance No. 05-20, as it exists or may be
amended, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be fined a
sum not exceeding Two Thousand and 00/100 Dollars ($2,000.00). Each continuing day's
violation under this Ordinance shall constitute a separate offense. The penal provisions imposed
under this Ordinance shall not preclude Prosper from filing suit to enjoin the violation. Prosper
retains all legal rights and remedies available to it pursuant to local, state and federal law.
SECTION 10: Savings/Repealing Clause. Prosper’s Zoning Ordinance No. 05-20
shall remain in full force and effect, save and except as amended by this or any other Ordinance.
All provisions of any ordinance in conflict with this Ordinance are hereby repealed to the extent
they are in conflict; but such repeal shall not abate any pending prosecution for violation of the
repealed ordinance, nor shall the repeal prevent a prosecution from being commenced for any
violation if occurring prior to the repeal of the ordinance. Any remaining portions of said
ordinance shall remain in full force and effect.
SECTION 11: Severability. Should any section, subsection, sentence, clause or
phrase of this Ordinance be declared unconstitutional or invalid by a court of competent
jurisdiction, it is expressly provided that any and all remaining portions of this Ordinance shall
remain in full force and effect. Prosper hereby declares that it would have passed this Ordinance,
and each section, subsection, clause or phrase thereof irrespective of the fact that any one or
Ordinance – Prosper Alcohol Regulations Page 12
619375.3
more sections, subsections, sentences, clauses and phrases be declared unconstitutional or
invalid.
SECTION 12. Effective Date. This Ordinance shall become effective from and after
its adoption and publication as required by law the Town Charter and by law.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN
OF PROSPER, TEXAS, on this _____ day of _________________________, 2012.
___________________________________
Ray Smith, Mayor
ATTESTED TO AND APPROVED AS TO FORM:
CORRECTLY RECORDED BY:
_________________________________ ___________________________________
Amy Piukana, Town Secretary Abernathy Roeder Boyd & Joplin P.C.
Rebecca H. Brewer, Town Attorneys
Date(s) of Publication: _______________________________________________, Prosper Press
To: Mayor and Town Council
From: Lyle H. Dresher, Interim Town Manager
Re: Town Council Meeting – January 22, 2013
Date: January 16, 2013
Agenda Item:
Conduct a public hearing for the designation of Tax Increment Financing Reinvestment Zone
Number Two, Town of Prosper.
Purpose:
In accordance with the provisions of the Tax Increment Financing Act, Chapter 311 of the Texas
Tax Code and the Town’s desire to promote economic development and redevelopment within the
Town of Prosper, the Town Council must conduct a public hearing to receive input and comment
on the proposed creation of the reinvestment zone. If established/created, the subsequent
ordinance provides for a detailed boundary of the zone; creates a board of directors for the
investments related to the zone and outlines the economic incentives used to incentivize the
zone’s development.
Description of Agenda Item:
An approximate 157-acre tract of land generally located at the northwestern quadrant of Highway
380 and the North Texas Tollway, more specifically described in Exhibit “A” of the Ordinance.
Budget Impact:
TOWN REVENUES (GENERATED ONLY FROM WITHIN THE ZONE) AND CONTRIBTED TO
TAX INCREMENT FUND
• 70% of real property ad valorem taxes in the Zone
• 100% of real property ad valorem taxes in the Zone attributable to “rollback” taxes
• 25% of municipal sales tax generated in the Zone
• 50% of the one-half of one percent (0.5%) municipal sales and use tax imposed pursuant to
the Development Corporation Act on behalf of the Prosper Economic Development
Corporation and generated within the Zone
• Up to 50% of Collin County’s ad valorem taxes in the Zone or a lesser participation, if any
• 380 Construction Sales Office Revenue
TERM OF ZONE. 25 Years
Prosper is a place where everyone matters.
Administration
On December 31, 2012, the Town Council approved by Contract 511 a Development and
Financing Agreement with MSW Prosper 380, LP, outlines in considerable detail the development
intended to be created within the Zone included but not limited to public and private infrastructure;
private development; and timelines related thereto. The Project and Financing Plan attached as an
Exhibit to this Ordinance provides detailed accounting and verification of the economic benefit(s)
associated with the creation of the Zone and the associated dedicated tax revenues from the Town
to fund the public-private partnership.
History:
This Public Hearing is continued from the December 19, 2012 Joint Council and Prosper Economic
Development Corporation Meeting.
Legal Obligations and Review:
Attorney Pete Smith drafted the attached ordinance. Town staff has notified the public hearing as
required by state law.
Attached Documents:
Ordinance No. 13-04 with exhibits
Town Staff Recommendation:
Town staff recommends the Town Council conduct a public hearing for the designation of
Tax Increment Financing Reinvestment Zone Number Two, Town of Prosper.
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TOWN OF PROSPER ORDINANCE NO. 13-04
AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS DESIGNATING A
CERTAIN AREA WITHIN THE TOWN OF PROSPER, TEXAS, AS TAX INCREMENT
FINANCING REINVESTMENT ZONE NUMBER TWO, TOWN OF PROSPER, TEXAS,
TO BE IDENTIFIED AS REINVESTMENT ZONE NUMBER TWO, TOWN OF
PROSPER, TEXAS; ESTABLISHING THE BOUNDARIES OF SUCH ZONE;
CREATING A BOARD OF DIRECTORS FOR SAID REINVESTMENT ZONE AND
OTHER MATTERS RELATED THERETO; CONTAINING FINDINGS; PROVIDING A
REPEALING CLAUSE; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the Town Council desires to promote the development or redevelopment of
a certain geographic area within its jurisdiction by the designation of a reinvestment zone, as
authorized by the Tax Increment Financing Act, Chapter 311 of the Texas Tax Code (the “Act”);
and
WHEREAS, in compliance with the Act, the Town called a public hearing to receive
comments on the designation of the proposed reinvestment zone and its benefits to the Town and
the property in the proposed reinvestment zone; and
WHEREAS, in compliance with the Act, notice of the public hearing was published in a
daily newspaper of general circulation in the Town, such publication date being not later than
seven (7) days prior to the date of the public hearing; and
WHEREAS, such hearing was convened at the time and place mentioned in the
published notice, to-wit, on the 22nd day of January, 2013, at 6:00 p.m., at the Town Municipal
Chambers in the Town of Prosper, Texas, which hearing was then closed; and
WHEREAS, the Town, at such hearing, invited any interested person, or the person's
representative, to appear and speak for or against the designation of the proposed reinvestment
zone, the boundaries of the proposed reinvestment zone, as described in Exhibit "A" attached
hereto and as depicted in the map attached hereto as Exhibit "B", whether all or part of the
territory described in Exhibit "A" and as depicted in Exhibit "B" should be included in such
proposed reinvestment zone, the concept of tax increment financing, and the appointment of a
board of directors for the proposed reinvestment zone; and
WHEREAS, all owners of property located within the proposed reinvestment zone and
other interested persons were given the opportunity at such public hearing to protest the
designation of the proposed reinvestment zone; and
WHEREAS, the Town has prepared a preliminary project and reinvestment zone
financing plan attached hereto as Exhibit "C".
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NOW THEREFORE BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN
OF PROSPER, TEXAS:
SECTION 1. That the facts and recitations contained in the preamble of this Ordinance
are hereby found and declared to be true and correct.
SECTION 2. That the Town Council, after conducting such public hearing and having
heard such evidence and testimony has made the following findings and determinations based on
the evidence and testimony presented to it:
(a) That the public hearing on adoption of the reinvestment zone has been properly
called, held and conducted and that notice of such hearing has been published as
required by law.
(b) That designation of the proposed reinvestment zone with boundaries as described
in Exhibit "A" and as depicted in Exhibit "B" will result in benefits to the Town,
its residents and property owners, in general, and to the property, residents and
property owners in the proposed reinvestment zone.
(c) That the proposed reinvestment zone, as defined in Exhibit "A" and as depicted in
Exhibit "B", meets the criteria for the designation of a reinvestment zone as set
forth in the Act in that it is located wholly within the corporate limits of the Town
and meets the requirements of Tax Code, Section 311.005.
(d) That the total appraised value of all taxable real property in the proposed
reinvestment zone according to the most recent appraisal roll of the Town,
together with the total appraised value of taxable real property in all other existing
reinvestment zones within the Town, according to the most recent appraisal roll of
the Town, does not exceed fifty percent (50%) of the current total taxable value of
taxable real property in the Town and in the industrial districts created by the
Town, if any.
(e) That the proposed improvements in the reinvestment zone will significantly
enhance the value of all taxable real property in the reinvestment zone and will be
of general benefit to the Town.
(f) That the development or redevelopment of the property in the proposed
reinvestment zone will not occur solely through private investment in the
reasonably foreseeable future.
(g) That thirty percent (30%) or less of the property in the proposed reinvestment
zone, excluding property dedicated to public use, is currently used for residential
purposes.
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(h) That the proposed reinvestment zone is predominantly open or undeveloped and,
because of obsolete platting, deterioration of structures or site improvements, or
other factors, substantially impair or arrest the sound growth of the municipality
or county.
(i) That the proposed reinvestment zone substantially arrests or impairs the sound
growth of the Town, retards the provision of housing accommodations, or
constitutes an economic or social liability and is a menace to the public health,
safety, morals, or welfare in its present condition and use because of the presence
of:
(1) the predominance of defective or inadequate sidewalk or street layout; and
(2) faulty lot layout in relation to size, adequacy, accessibility, or usefulness.
SECTION 3. That the Town hereby designates a tax increment financing reinvestment
zone over the area described in Exhibit "A" attached hereto and as depicted in the map attached
as Exhibit "B", and such tax increment financing reinvestment zone shall hereafter be identified
as Reinvestment Zone Number Two, Town of Prosper, Texas (hereinafter sometimes referred to
herein as the “Zone”).
SECTION 4. That there is hereby established a board of directors for Reinvestment
Zone No. Two, Town of Prosper, Texas which shall consist of at least five (5), but not more than
fifteen (15), members, unless more members are required to be appointed to satisfy the
requirements of Section 311.009, Tax Code. The members of the Board of Directors of the Zone
shall be appointed as follows:
(a) The Town shall be entitled to appoint a minimum of three (3) and a maximum of
ten (10) members of the Board of Directors, except that if there are fewer than
five (5) directors appointed by taxing units other than the Town, the Town
Council may appoint more than ten (10) members as long as the total membership
of the Board of Directors does not exceed fifteen (15) members. The Board of
Directors shall consist of numbered positions with positions 1-7 reserved for
appointment by the Town Council.
(b) Each taxing unit, other than the Town, that levies taxes on real property in the
Zone may appoint one member of the Board of Directors if the taxing unit has
approved the payment of all or part of the tax increment produced by such taxing
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unit into the tax increment fund for the Zone. A taxing unit eligible to appoint a
member to the Board of Directors may waive such right. If a taxing unit waives its
right to appoint a member of the board, the Town may appoint a member to the
Board of Directors to such position. The governing body of each taxing unit, other
than the Town, eligible to appoint a member to the Board of Directors shall
appoint such member within sixty (60) days after such taxing unit has entered into
an agreement with the Town for payment of all or part of the tax increment
produced by such taxing unit into the tax increment fund for the Zone. Failure of
such taxing unit to appoint a director within such sixty (60) day period shall be
deemed a waiver of the right to appoint a director, and the Town Council shall be
entitled to appoint a person to such position.
(c) The Town Council shall appoint additional member(s) in order to maintain a
board of at least five (5) members. A vacancy on the Board of Directors shall be
filled as set forth in the Act. Positions one through three on the Board of Directors
are reserved for the Town. The remaining positions are reserved for other taxing
units that levy real property taxes in the Zone and if the taxing unit has approved
the payment of all or part of the tax increment produced by such taxing unit into
the tax increment fund for the Zone. The directors appointed by taxing units other
than the Town shall be assigned a Board position in the order that the Town
receives the appointment. All members appointed to the Board of Directors shall
meet eligibility requirements as set forth in the Act.
(d) The terms of office for members of the Board of Directors shall be for two (2)
years. Each year the Town Council shall designate a member of the Board of
Directors to serve as Chairperson of the Board of Directors. The Chairperson shall
serve a term of office of one year that runs from January 1 through and including
December 31 of the calendar year. The Board of Directors shall elect from its
members a Vice-Chairperson and other officers, as it deems appropriate.
(e) The Board of Directors shall make recommendations to the Town Council
concerning the administration of the Zone. It shall prepare and adopt a project
plan and the reinvestment zone financing plan for the Zone, and must submit such
plans to the Town Council for its approval. The Town Council delegates to the
Board of Directors all powers necessary to prepare and implement the project and
the reinvestment zone financing plans for the Zone, including any required annual
reports on the status of the Zone, all subject to the prior approval of the Town
Council.
(f) The Town Council hereby appoints the Mayor and Town Council Members Places
1-6 to Board of Directors positions assigned positions 1-7, respectively. The term
of each such Director shall be concurrent with his or her term of office on the
Town Council. If the Mayor or a member of the Town Council shall ever be
removed, whether voluntarily or involuntarily, that Town Council Member shall
cease to serve as a Director of the Zone. The Town Council hereby designates the
Mayor as the Chairman of Board of Directors effective immediately, and to serve
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as the Chairman of the Board of Directors on annual basis each calendar year
thereafter, unless and until the Town Council designates a Town Council Member
other than the Mayor to serve as the Chairman of the Board of Directors.
SECTION 5. That the Zone shall take effect on adoption of this Ordinance, and the
termination of the Zone shall occur on December 31, 2037, or at an earlier time designated by
subsequent ordinance of the Town Council, or at such time, subsequent to the issuance of any tax
increment bonds, if any, that all project costs, tax increment bonds, notes or other obligations of
the Zone, and the interest thereon, if any, have been paid in full.
SECTION 6. That the tax increment base for the Zone, which is the total taxable value
of all taxable real property located in the Zone, is to be determined as of January 1, 2013, the year
in which the Zone was designated as a tax increment financing reinvestment zone (the "Tax
Increment Base"). Tax Increment Base means the total taxable value of all real property taxable
by a taxing unit and located in the Zone for the 2013 year. “Tax Increment” means the total
amount of real property taxes by a taxing unit for the year on the Captured Appraised Value of
real property taxable by a taxing unit and located in the Zone. The “Captured Appraised Value”
means the total taxable value of all real property taxable by a taxing unit and located in the Zone
for the year, less the Tax Increment Base of the taxing unit. For purposes of this Ordinance
“Sales and Use Tax” shall mean the Town’s one percent (1%) sales and use tax imposed pursuant
to Chapter 321, Tax Code, on the sale of Taxable Items in the Zone. Sales and Use Tax does not
include any additional sales and use tax imposed by the Town for any purpose, including one-
half of one percent (0.5%) sales and use tax imposed by the Town pursuant to the Development
Corporation Act of 1979, Chapters 501-501, Texas Local Government Code, on behalf of the
Prosper Economic Development Corporation, and the one-half of one percent (0.5%) Sales and
Use Tax imposed by the Town for property tax reduction. For purposes of this Ordinance “Sales
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Tax Base” shall mean the amount of municipal Sales and Use Taxes attributable to the zone for
the 2013 year, the year in which the Zone is designated. For purposes of this Ordinance “Sales
Tax Increment” shall mean the amount of Sales and Use Taxes collected by the Town above the
Sales Tax Base. For purposes of this Ordinance “Taxing Unit” means the Town and any other
political subdivision or special district that taxes real property within the Zone that enters into an
agreement with the Town for the payment of all or part of the tax increment produced by such
other taxing unit into the Tax Increment Fund for the Zone.
SECTION 7. That there is hereby created and established a Tax Increment Fund for the
Zone which may be divided into such sub-accounts as may be required, into which all Tax
Increments and Sales Tax Increment, less any of the amounts not required to be paid into the Tax
Increment Fund pursuant to the Act, are to be deposited. All Tax Increments and Sales Tax
Increments as defined herein shall be deposited in the Tax Increment Fund. The Tax Increment
Fund and any sub-accounts are to be maintained at the depository bank of the Town and shall be
secured in the manner prescribed by law for funds of the Town. In addition, all revenues from the
sale of any tax increment bonds, notes or certificates of obligation, hereafter issued by the Town;
revenues from the sale of any property acquired as part of the Zone financing plan; and any other
revenues to be dedicated to and used in the Zone shall be deposited into the Tax Increment Fund
or sub-account from which money will be disbursed to pay project costs for the Zone or to satisfy
the claims of holders of tax increment bonds, notes or certificates of obligations issued for the
Zone.
SECTION 8. That the Town will participate in the Zone by contributing to the Tax
Increment Fund for a period of twenty-five (25) years: (i) seventy percent (70%) of the Town's
Tax Increment from real property ad valorem taxes in the Zone (excluding “rollback” taxes
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assessed and collected by the Town; (ii) one hundred percent (100%) of the Town’s Tax
Increment from real property ad valorem taxes in the Zone attributable solely to “rollback” taxes;
(iii) twenty-five percent (25%) of the Town’s Sales Tax Increment to the Tax Increment Fund.
The Town will also contribute fifty percent (50%) of the one-half of one percent (0.5%) sales and
use tax imposed pursuant to the Development Corporation Act, Chapters 501-505, Texas Local
Government Code, on behalf of the Prosper Economic Development Corporation (“PEDC”), to
be paid to the Town by the PEDC pursuant to that certain PEDC Infrastructure Reimbursement
Agreement by and between the PEDC and the Town.
SECTION 9. That all ordinances of the Town of Prosper, Texas, in conflict with the
provisions of this Ordinance be, and the same are hereby, repealed; provided, however that all
other provisions of said ordinances not in conflict with the provisions of this Ordinance shall
remain in full force and effect.
SECTION 10. That if any section, paragraph, clause or provision of this Ordinance shall
for any reason be held invalid or unenforceable, the invalidity or unenforceability of such section,
paragraph, clause, or provision shall not affect any of the remaining provisions of this Ordinance.
SECTION 11. That the Town Manager is hereby authorized to execute any contracts or
other agreements with any taxing units that elect to enter into an agreement with the Town for
payment of all or part of the tax increment produced by such other taxing unit into the Tax
Increment Fund for the Zone.
SECTION 12. This Ordinance shall take effect upon its passage as the law and charter in
such cases provide.
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DULY PASSED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS, ON THE 22nd DAY OF JANUARY, 2013.
APPROVED:
RAY SMITH
MAYOR
CORRECTLY ENROLLED:
AMY PIUKANA, TRMC
TOWN SECRETARY
APPROVED AS TO FORM:
_____________________________
TOWN ATTORNEY
(PGS:1-1-13:57851)
Exhibit “A”
(Legal Description of the Zone)
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LEGAL DESCRIPTION – 127.289 ACRES
BEING a parcel of land located in the Town of Prosper, Collin County, Texas, a part of the
Collin County School Land Survey No. 12, Abstract Number 147, and being a part of a tract of
land described in a deed to M.A.H.G. Partnership as recorded in Document Number
20100601000545080, Collin County Deed Records, and being further described as follows:
BEGINNING at a one-half inch iron rod found at the southeast corner of said M.A.H.G.
Partnership tract of land, said point being the intersection of the west right-of-way line of the
Dallas North Tollway (a variable width right-of-way) with the north right-of-way line of U. S.
Highway 380 (a variable width right-of-way);
THENCE along the north right-of-way line of U. S. Highway 380 as follows:
South 89 degrees 58 minutes 56 seconds West, 737.62 feet to a highway monument
found for corner;
North 87 degrees 12 minutes 21 seconds West, 100.05 feet to a highway monument
found for corner;
North 89 degrees 58 minutes 51 seconds West, 577.36 feet to a one-half inch iron rod
found at the most southerly southwest corner of said M.A.H.G. Partnership tract of land, said
point being the southeast corner of a tract of land described in a deed to F.L. Partners, Ltd. as
recorded in Document Number 20111216001360700, Collin County Deed Records;
THENCE North 00 degrees 10 minutes 18 seconds East, 1582.40 feet to a one-inch iron pipe
found at the northeast corner of said F.L. Partners, Ltd. tract of land;
THENCE South 89 degrees 43 minutes 30 seconds West, 927.35 feet to a one-inch iron pipe
found at the most northerly southwest corner of said M.A.H.G. Partnership tract of land, said
point being the northwest corner of a tract of land described in a deed to Y-C Nurseries, Inc. as
recorded in Volume 4917, Page 2974, Collin County Deed Records, said point being in the east
line of a tract of land described in a deed to 110 Prosper Property, L.P. as recorded in Document
Number 20091221001521410, Collin County Deed Records;
THENCE along the west line of said M.A.H.G. Partnership tract of land and along the east line
of said 110 Prosper Property, L.P. tract of land as follows:
North 00 degrees 23 minutes 24 seconds East, 638.49 feet to a one inch iron pipe
found for corner;
North 00 degrees 27 minutes 38 seconds East, 335.80 feet to a one-half inch iron
rod found for corner;
North 89 degrees 28 minutes 46 seconds West, 38.28 feet a one-half inch iron rod
found for corner;
North 00 degrees 00 minutes 43 seconds West, 695.33 feet to a one-half inch iron
rod set for corner;
Exhibit “A”
(Legal Description of the Zone)
10
THENCE North 89 degrees 22 minutes 23 seconds East, 1352.30 feet to a one-half inch iron rod
set for corner in the east line of said M.A.H.G. Partnership tract of land, said point being in the
west line of a tract of land described in a deed to Southern Star Concrete, Inc. as recorded in
Volume 5468, Page 5436, Collin County Deed Records;
THENCE along the east line of said M.A.H.G. Partnership tract of land as follows:
South 00 degrees 34 minutes 52 seconds East, 51.73 feet to a one-half inch iron rod
found at the southwest corner of said Southern Star Concrete, Inc. tract of land, said point being
the northwest corner of a tract of land described in a deed to Lattimore Materials Company, L.P.
as recorded in Volume 5380, Page 5848, Collin Deed Records Collin County;
South 00 degrees 31 minutes 42 seconds East, 651.92 feet to a one-half inch iron rod
found for the southwest corner of said Lattimore Materials Company, L.P;
North 89 degrees 39 minutes 24 seconds East, 1117.44 feet along the south line of
said Lattimore Materials Company, L.P. to a one-half inch iron rod found in the west right-of-
way line of the Dallas North Tollway (a variable width right-of-way);
THENCE along the west right-of-way line of the Dallas North Tollway as follows:
South 04 degrees 37 minutes 34 seconds West, 705.31 feet to a one-half inch iron rod
found for corner;
Southwesterly, 507.85 feet a curve to the left having a central angle of 02 degrees 30
minutes 00 seconds, a radius of 11,639.16 feet, a tangent of 253.97 feet, and whose chord bears
South 03 degrees 19 minutes 26 seconds West, 507.81 feet to a one-half inch iron rod found for
corner;
South 02 degrees 04 minutes 26 seconds West, 587.13 feet to a one-half inch iron rod
found for corner;
Southwesterly, 250.65 feet along a curve to the left having a central angle of 02
degrees 30 minutes 00 seconds, a radius of 5744.58 feet, a tangent of 125.34 feet, and whose
chord bears South 00 degrees 49 minutes 26 seconds West, 250.63 feet to a one-half inch iron
rod set for corner;
South 00 degrees 25 minutes 34 seconds East, 523.30 feet to the POINT OF BEGINNING and
containing 5,544,727 square feet or 127.289 acres of land.
Exhibit “A”
(Legal Description of the Zone)
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LEGAL DESCRIPTION – 30 ACRES
Exhibit “B”
(Map Depiction of the Zone)
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Exhibit “C”
(Preliminary Project and Reinvestment Zone Financing Plan)
SteinPlanning, LLC
Project Plan and Financing Plan
for
Prosper Tax Increment Financing
Reinvestment Zone
Number Two
Prepared January 2013
by
for
Town of Prosper, Texas
(Program for Tax Increment Financing)
MSW Prosper 380, L.P.
and the
Contents
Page
Section 1: Objectives: 1
Section 2: What Is Tax Increment Financing? 1
Section 3: Reinvestment Zone Description 3
Section 4: Development with Tax Increment Financing 6
Section 5: Financing TIF Project Costs 11
Section 6: Net New Revenue for Prosper, Collin County and the Prosper
Independent School District 14
Exhibits
Page
Exhibit A: Real Property Tax Flow with Tax Increment Financing 2
Exhibit B: Prosper TIF Reinvestment Zone Number Two (Prosper West) with
Existing Uses and Conditions 4
Exhibit C: Proposed Uses of TIF Reinvestment Zone Number Two 7
Exhibit D: Proposed Roadways and Parking Structures in and around TIF
Reinvestment Zone Number Two 8
Exhibit E: Proposed Water Distribution System in and around TIF Reinvestment
Zone Number Two 9
Exhibit F: Proposed Wastewater Collection System in and around TIF
Reinvestment Zone Number Two 10
Schedules
Page
Schedule 1: 2012 Base Value of the TIRZ 15
Schedule 2: Annual Development and Taxable Value Forecasts for the
TIRZ, in 2012 Dollars 16
Schedule 3: Summary of Estimated TIRZ Project Costs and Nonproject
Costs 17
Schedule 4: Forecast of Taxable Property and Town Property Taxes from
the TIRZ 18
Schedule 5: Forecast of Taxable Property and County Property Taxes
from the TIRZ 19
Schedule 6: Forecast of Real Property Tax Increments to t he TIRZ Fund 20
Schedule 7: Forecast of Taxable Sales from Stores, Hotels and Cinemas
in the TIRZ, in 2012 Dollars 21
Schedule 8: Forecast Hotel Sales, Town Hotel Occupancy Tax and Hotel
Sales Subject to Sales Tax 22
Schedule 9: Forecast of Total Municipal Sales Tax Generated in the TIRZ 23
Schedule 10: Town of Prosper General Sales Tax for the TIRZ Fund 24
Schedule 11: Forecast of Prosper EDC 4A Sales Tax Grants for Prosper
West Infrastructure 25
Schedule 12: Prospective Cash Flow for Prosper West Infrastructure from
All Local Public Sources 26
Schedule 13: Tax from Prosper West Retained for Prosper General Fund
and Prosper EDC 27
Schedule 14: Tax from Prosper West Retained for Collin County 28
Schedule 15: Forecast of Prosper ISD Taxes from the TIRZ 29
Appendices
Page
Appendix A: Road Improvement Details 30
Appendix B: Other Site Improvement Details 44
Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth
Metropolitan Area 46
Disclaimer
Neither this report nor its conclusion may be referred to or included in any product or
part of any offering made in connection with private syndication of equity, sales of
bonds, sales of securities or sale of participation interests to the public without express
written consent of Stein Planning, LLC.
Section 1:
Objectives
Objectives of Prosper Tax Increment Financing Reinvestment Zone Number Two
(“the TIRZ”) are economic and qualitative benefits for the Town of Prosper and
Collin County. The Town has concluded that development of an area known as
Prosper West, northwest of the intersection of the Dallas North Tollway and
University Drive (U.S. Highway 380) in general accord with a plan proposed by
MSW Prosper 380, L.P., a limited partnership, will promote economic growth and
quality of life for Town residents. The Town concludes, moreover, that this TIRZ
is an appropriate tool to facilitate timely development of streets and other public
improvements that are necessary and desirable for proper development of
Prosper West.
Section 2:
What Is Tax Increment Financing?
Tax increment financing (“TIF”) is a tool local governments in Texas have used
since 1986 to finance public improvements within defined areas that have unique
challenges or opportunities for economic development. Statutory law regarding
TIF for municipalities is found in Chapter 311 of the Texas Tax Code (the “Act”).
Improvements facilitated by tax increment financing should attract investment
and improve communities.
A municipality or county may make an area eligible for tax increment financing by
designating a TIRZ. “TIRZ” and “TIF zone” are interchangeable names used in
Texas for a tax increment financing reinvestment zone. Every TIRZ is
designated with a finite term of existence. Real property taxes on the value of
the TIRZ in its year of designation (its “base year”) continue to flow to the general
funds of the relevant taxing unit, but, for the duration of the TIRZ and for local
taxing entities that choose to participate in a TIRZ program, all or part of the tax
on real property value in the TIRZ in excess of the TIRZ base value flows to a tax
increment financing fund (“TIRZ fund”).
Money flowing to the TIRZ fund is disbursed according to one or more
development agreements. These will be contracts between the Town of Prosper
and a developer. A development agreement must accord with a TIRZ project
plan and financing plan (“TIRZ plan”) approved by the Town Council subsequent
to a recommendation by a TIRZ Board of Directors (“TIRZ Board”) as prescribed
by the Act. The TIRZ fund may be used only as authorized by State law.
Exhibit A illustrates how rising tax revenue from greater taxable value in a TIRZ
flows with time to a taxing jurisdiction’s general fund and to a TIRZ fund. The
sloped lines depict tax revenue in the zone rising with time. Through tax year
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 1
2037, the Town will deposit to the TIRZ fund 70% of Town tax increments due to
increased taxable real property values within the TIRZ boundary. Collin County
will be asked to invest in the TIRZ 50% of County tax increments due to
increased taxable real property values in the zone for the same term of years.
Real property taxes retained from the TIRZ for the general funds of both the
Town and County will rise sharply upon termination of the TIRZ.
In addition to a major share of its real property tax, Prosper will invest in the TIRZ
fund 25% of its general sales tax collected from the TIRZ for the duration of the
TIRZ. No Town or County taxes or fees except the designated portions of real
property taxes and Town sales tax will flow to the TIRZ fund.
Inclusion of property in a TIRZ does not change the tax rate for any property.
Tax rates in a TIRZ are the same as rates outside the zone and within the same
set of taxing jurisdictions.
Mere designation of a TIRZ is not an entitlement to future tax flow, although it’s a
step in that direction. Only if the Prosper Town Council approves execution of a
development agreement consistent with a TIRZ project plan and financing plan
may cash flow from the TIRZ fund and then only in accord with terms of a
development agreement. A TIRZ Board for Zone Number Two must make a
recommendation to the Town Council prior to Council approval of a development
agreement for TIRZ Two.
Exhibit A:
Real Property Tax Flow with Tax Increment Financing
This exhibit illustrates a general concept. It is not scaled to reflect magnitudes of annual tax
increases or exact proportions of flow to the TIRZ fund versus the general fund.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 2
Section 3:
Reinvestment Zone Description
Exhibit B is a map of Prosper TIRZ Number Two, showing existing uses and
conditions. The zone includes 157.289 acres plus adjacent public rights-of-way.
All taxable land in the Zone was used for grazing in 2012. The zone is two non-
contiguous parcels. The eastern parcel of 127.289 acres was owned by MAHG
Partnership in 2012. The western parcel of 30 acres was owned by 110 Prosper
Property, LP. MSW Prosper 380, L.P. has a contract option to purchase both
parcels. Zone boundaries that follow public rights-of-way extend from the center
of the TIF zone to the far sides of such rights-of-way or to the City limit,
whichever is nearer to the center of the reinvestment zone.
Situated at the northwest intersection of the Dallas North Tollway and University
Drive (U.S. 380), the reinvestment site is a convenient and logical site for
regional commercial activity and high density. The north side of University Drive
is in the Town of Prosper. The south side is in the City of Frisco. With a
commitment to timely investments in public infrastructure at this site, the Town
anticipates that the TIRZ area will capture development and a taxes that might
otherwise occur later, if at all, or in other municipalities or counties and that the
development that occurs in the zone and vicinity will be of better quality because
of the site layout and infrastructure.
The absence of streets and walks, positive drainage, water and sewer lines and
franchise utilities in the TIRZ area impairs sound growth of this part of the Town
and Collin County. The zone meets other statutory tests for designating a TIRZ
in that:
(1) None of the land in the zone (infinitely less than the 30% allowed by
statute law) is currently used for residential purposes;
(2) The total appraised value of real property in the zone liable for taxation
in 2012 was $29,413. Together with other reinvestment zones and
industrial districts in the Town, the total appraised value of taxable real
property in such zones was far less than the statutory maximum of
50%. Real property accounts in the TIRZ and 2012 base values are
identified in Schedule 1.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 3
Exhibit B:
Prosper TIF Reinvestment Zone Number Two
(Prosper West) with Existing Uses and Conditions
(August 2012)
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 4
Section 4:
Development with Tax Increment Financing
Private Development
Exhibit C is a map showing the layout of proposed uses in the TIRZ. Some
adjustments in response to changing market demand may be required over the
several years before the TIRZ is fully developed. Schedule 2 quantifies gross
floor areas planned for various uses of the land. Prospective developer MSW
380, L.P. plans approximately 3.4 million square feet of floor area in the total
TIRZ when fully developed. About 46% of that floor area will be residential space,
25% will be office space and the balance will be retail, hotel and theater space.
TIRZ Project Costs and Nonproject Costs
Exhibits D, E and F map major improvements to public infrastructure in and
around the TIRZ. Exhibit D shows roadway improvements, E shows water
distribution improvements and F shows wastewater collection improvements.
Estimated costs of these and other public improvements associated with
development of the TIRZ are summarized in Schedule 3. Schedule 3 separates
public improvement costs according to TIRZ project costs intended for
reimbursement with either tax increments collected by the TIRZ fund or grants
from the Prosper Economic Development Corporation and nonproject costs, to
be paid by the developer. The estimated project cost from Schedule 3 is $27.5
million plus Town expenses to administer the TIRZ program (estimated present
value of $916,303) plus infrastructure financing costs at 3.5% per year for cash
advances. Detailed estimates of road and other infrastructure costs are in
Appendices A and B of this plan document.
Taxable Value
Developed according to the plan and time schedule in the upper part of Schedule
2, annual taxable values of property in the TIRZ are forecast in the balance of the
same schedule. Taxable real property is forecast at $192 million after ten years
(January 2022) and $417 million at ultimate buildout, (estimated January 2029).
These forecast values, like the project cost estimates, are expressed in 2012
dollars, before adjustment for probable inflation.
The taxable appraised value estimates in Schedule 2 are by Stein Planning, LLC.
These estimates of value for tax purposes are based on the developer’s
anticipated development program and taxable values assigned by appraisal
districts to comparable properties in the metropolitan area. Appendix C of this
document presents actual appraisals of comparable properties by county
appraisal districts. Development costs, sale prices and appraisals for tax
purposes may differ significantly.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 5
Taxable Development and Public Infrastructure Nexus
The proposed development cannot happen without costly public infrastructure
improvements. Construction of a well-designed and well-built network of streets,
walkways, utilities and public amenities that attracts employment and a strong
local tax base will benefit Prosper and Collin County. Consequently, the Town
intends that a TIRZ fund for Zone Two will reimburse and pay debt service for the
TIRZ project costs identified in Schedule 3 and detailed in Appendices A and B.
Listed TIRZ project items and their estimated costs will be reviewed periodically
by the TIRZ Board and may be modified upon Board recommendation and Town
Council approval.
Texas law requires that a TIF project plan must identify proposed changes of
zoning ordinances, the master plan of the municipality, building codes, other
municipal ordinances and subdivision rules and regulations, if any, of the county,
if applicable. No such changes are currently proposed, but future proposals for
changes are possible. With adequate infrastructure, it’s legally possible to build
all the uses and densities programmed in Schedule 2 with existing Town of
Prosper PD-41 and PD-48 zoning.
No residents will be displaced by the development currently anticipated by the
TIRZ plan. There are no residents at present within the zone.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 6
Exhibit C:
Proposed Uses of TIF Reinvestment Zone
Number Two
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 7
Exhibit D:
Proposed Roadways and Parking Structures in
and around TIF Reinvestment Zone Number Two
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 8
Exhibit E:
Proposed Water Distribution System in and
around TIF Reinvestment Zone Number Two
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 9
Exhibit F:
Proposed Wastewater Collection System in and
around TIF Reinvestment Zone Number Two
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 10
Section 5:
Financing TIF Project Costs
Revenue for TIRZ Project Costs
Based on the development and taxable value assumptions for TIRZ Number Two
(from Schedule 2), Schedules 4 and 5 are forecasts of annual and cumulative
cash generated by property tax within the TIRZ during the TIRZ term of thirty-
three years and beyond to a total of forty years. Part of the real property tax
generated within the TIRZ will be dedicated to the TIRZ fund for its duration. No
business personal property tax will flow to the TIRZ fund.
Annual real property tax receipts dedicated to the TIRZ fund are forecast in
Schedule 6. That schedule assumes the Town of Prosper pledges 70% of the
real property tax increment to the fund for tax years 2013 through 2037 and that
Collin County pledges 50% of real property tax increments for the same term.
(The duration of the TIRZ runs from its date of designation by the Town Council
through December 31, 2037. Designated shares of tax increments levied in
calendar 2037 flow to the TIRZ fund, even if collected in a subsequent year.)
Although not calculated on Schedule 6, Prosper pledges to the TIRZ fund the
incremental tax collected from the five-year “rollback” of taxable value due upon
conversion of agricultural land to non-agricultural use. If collected entirely in tax
year 2013 or soon thereafter, the total five-year rollback tax attributed to the
Town alone is expected to approach $500,000, per the calculation at the bottom
of Schedule 1.
In addition to real property tax, the Town of Prosper will commit to the TIRZ fund
for its duration a portion of Town general sales tax earned within the TIRZ.
Annual retail sales and sales taxes earned from the TIRZ for the Town of Prosper
and the Prosper Economic Development Corporation (“PEDC”) are forecast by
Schedules 7, 8 and 9. Schedule 10 is a forecast of Town general sales tax
flowing to the TIRZ fund, based on the Town’s dedication of 25% of general sales
tax.
The PEDC anticipates making grants of part of the 0.5% municipal sales tax for
economic development (“4A sales tax”) to pay costs for public infrastructure
constructed in the TIRZ. A draft agreement calls for a grant of $500,000 from
accumulated 4A tax to pay for public infrastructure. This amount is to be
conveyed to the developer within weeks of designation of the TIRZ. The draft
agreement provides further PEDC obligations that will total $2 million to $3
million for principal expenses, including the original $500,000. (The grant
amount depends on public improvements built at developer expense and taxable
value of the TIRZ by the tenth year of its existence.) PEDC grant payments after
the original $500,000 will be drawn from 4A sales tax earned within the TIRZ and
possibly other 4A sales tax. The anticipated percentage of 4A sales tax earned
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 11
in the TIRZ that is committed to grants for public improvements in the TIRZ is
50% for most years. PEDC grants for infrastructure in the TIRZ will be increased
to add interest on the agreed principal balances not yet reimbursed to the
developer, on a sliding scale from 1.5% simple annual interest, not to exceed
4.5% annual interest. After these grants of $2 million or $3 million to reimburse
public improvement expenses incurred by the developer have been paid with
interest, but not before fifteen years, the PEDC anticipates granting 50% of 4A
sales tax earned from the TIRZ to defray TIRZ project costs during the duration
of the TIRZ. Schedule 11 is a forecast of annual amounts paid by the PEDC for
infrastructure for economic development in the TIRZ.
Anticipated annual dedications to the TIRZ fund by the Town of Prosper and
Collin County and grants by the Prosper Economic Development Corporation for
infrastructure in the TIRZ are listed and totaled in Schedule 12. The combined
total funds available for TIRZ project costs, including principal, carrying costs and
Town administrative expenses for the TIRZ program through the duration of the
TIRZ are forecast as approximately $53 million.
A cash flow spread over decades has significantly less value, however, than the
same cash in a lump sum today, due to the cost of borrowing money or the
opportunity cost of money that earns no interest. When the forecast cash flow to
the TIRZ fund and PEDC grants are discounted to present value at the discount
rate of 3.5% suggested by Town sources, the combined 25-year cash flow has a
present value of approximately $30 million.
Use of Funds for TIRZ Project Costs
With Town Council approval, actual cash flow to the TIRZ fund may be paid as it
becomes available for TIRZ project costs, whether incurred by the Town, a
developer, a lender, or another party. Project costs must be consistent with a
TIRZ project plan and financing plan. A contractual agreement should specify
terms for disbursement of TIRZ funds, including priorities for disbursement of
funds if multiple parties have claims to TIRZ fund revenue.
TIRZ project costs are most commonly paid as reimbursements to developers in
exchange for a developer causing construction of public improvements in accord
with agreed performance standards. Rights to receive cash from a TIRZ fund
may be assigned, with due consent.
Municipalities or counties may recover from a TIRZ fund their own expenses for
duly approved TIRZ project cost items. Town expenses incurred for organization
and administration of the TIF program will have a senior claim on TIF revenue in
every year, to the extent that such expenses are documented and reasonable.
Town administrative expenses accrued but not reimbursed will roll forward to
successive years until paid. Annual Town expenses after the initial years have
been estimated at $45,000 plus inflation.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 12
Prosper contemplates application of part of its TIRZ revenue to debt service on
bonds that may be authorized by the Town, the U.S. Department of Agriculture,
or another government entity to pay for public improvements in the TIRZ or other
expenses that are legitimate uses of TIRZ fund revenue. TIRZ revenue may be
the sole security for bonds or one of multiple revenue streams securing bonds.
Economic Feasibility
A comparison of TIRZ project costs from Schedule 3 and the Schedule 12
forecast of probable cash flow to a TIRZ fund plus PEDC grants for TIRZ
infrastructure implies that it is economically feasible for the TIRZ fund to pay the
estimated 2012-2013 present value of $28.4 million of total TIRZ project costs,
given all the stated assumptions. This conclusion is based on the stream of cash
receipts as forecast through 2038. When the total receipts forecast in Schedule
12 are discounted to 2013 value at an annual discount rate of 3.5%, the 2013
present value of the forecast TIRZ receipts approximates $30 million. This
discounted value is adequate to pay the 2012-2013 present value of TIRZ project
costs ($28.4 million) for principal, administrative expenses and finance costs,
provided the average annual interest on unreimbursed balances is approximately
3.5%.
It’s possible that the TIRZ fund plus PEDC grants may prove sufficient to cover
all TIRZ project costs, including finance costs before 2038 receipts. In the case
that financial obligations of the TIRZ fund are satisfied before the scheduled end
date of the TIRZ, the Town Council may terminate the TIRZ early. If the TIRZ
fund has a cash balance after all its financial obligations have been met, any
residual balance will be prorated to taxing jurisdictions according to their deposits
to the TIRZ fund for the year when fund obligations have been fully discharged.
The anticipated percentage of total receipts for TIRZ project costs that will come
from Town tax increments (real property and sales tax) and Prosper Economic
Development Corporation grants is 83%. County tax increments will account for
17%. These percentages should not be confused with the percentages of annual
incremental real property tax that the Town and County will contribute to the TIF
fund.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 13
Section 6:
Net New Revenue for Prosper, Collin County and
the Prosper Independent School District
Prosper and Collin County will gain and retain significant real property tax earned
within the TIRZ for the full duration of the TIRZ. Beyond these greater tax
volumes related to increased real property value in the zone, Prosper and all
other taxing entities will receive and retain 100% of business personal property
tax related to TIRZ development. Texas law does not authorize business
personal property tax to flow to a TIF fund. Prosper will retain part of the sales
tax earned in the TIRZ. Schedules 13, 14 and 15 forecast taxes from
development in the TIRZ that will be retained by the Town, Collin County and the
Prosper Independent School District, respectively.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 14
Schedule 1:
2012 Base Value of the TIRZ
Notes:
Base value for the TIRZ will be the taxable value of real property in the zone for the year when the zone is designated. 2012 is assumed.
Land areas are as reported by the Collin Central Appraisal District. Actual areas may vary.
Taxable real property values represent agricultural productivity value.
Appraised values of accounts partly in the TIRZ are prorated according to land area inside the TIRZ.
(a)(b)(c) (d)(e)(f)(g)(h) (i) (j)
Collin CAD Taxable
Account Jan. 1,2012 Owner of Record Acres SF Land Improvements Total Land Per SF Taxable Per SF
967724 M A H G Partnership 92.3000 4,020,588 $11,056,617 $0 $11,056,617 $2.75 $17,260 $0.0043
2602311 M A H G Partnership 50.2120 2,187,235 $6,014,895 $0 $6,014,895 $2.75 $9,390 $0.0043
2602313 M A H G Partnership 46.1230 2,009,118 $5,525,074 $0 $5,525,074 $2.75 $8,625 $0.0043
Subtotal 188.6350 8,216,941 $22,596,586 $0 $22,596,586 $2.75 $35,275 $0.0043
South 127.289 acres, assuming 127.289/188.635 127.2890 5,544,709 $15,247,949 $0 $15,247,949 $2.75 $23,803 $0.0043
Prorated base value of south 127.289 acres
2655207 110 Prosper Property, LP 34.2888 1,493,620 $2,987,240 $0 $2,987,240 $2.00 $6,412 $0.0043
2655209 110 Prosper Property, LP 55.5000 2,417,580 $4,835,160 $0 $4,835,160 $2.00 $10,378 $0.0043
Subtotal 89.7888 3,911,200 $7,822,400 $0 $7,822,400 $2.00 $16,790 $0.0043
South 30 acres, assuming 30/89.7888 30.0000 1,306,800 $2,613,600 $0 $2,613,600 $2.00 $5,610 $0.0043
Prorated base value of south 30 acres
Totals for TIRZ 157.2890 6,851,509 $17,861,549 $0 $17,861,549 $2.61 $29,413 $0.0043
Total base value of the TIRZ
Rollback Tax Estimate, Based on 2012 and Recent Year Values:
2012 difference between Collin CAD "market" value and agricultural value of the TIRZ: $17,832,136
Town of Prosper 2012 tax rate per $100: $0.52
2012 difference in Town of Prosper real property tax from the TIRZ due to agricultural valuation:$92,727
Approximate value of five-year real property tax rollback (Town tax only) if all due in tax year 2012 (payable 2013):$463,636
Land Area "Market"
Appraisals by Collin Central Appraisal District
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 15
Schedule 2:
Annual Development and Taxable Value Forecasts for the TIRZ, in 2012 Dollars
Notes:Uses, gross floor areas, dwelling counts and phasing are the current plan offered by the site developer. All are subject to change.
Taxable appraisals per square foot of gross floor area are estimates by Stein Planning, LLC, based on appraisals for tax purposes of comparable
developments in the metropolitan area. Comparables are listed in an appendix. Construction cost, sale value and appraisal for taxation
are not necessarily the same.
Stein Planning, LLC assumes the market will absorb floor area when completed. This is not an evaluation of market demand.
(a)(b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)
Completed Added Total
During To Roll as of 1,100 Stand-Alone Added Cumulative
Calendar Jan. 1,Units SF GFA / Unit Office Big Box General Restaurant Cinema Hotel This Year Total
2014 2015 0 0 0 0 0 0 0 0 0 0
2015 2016 0 0 60,000 0 0 0 0 0 60,000 60,000
2016 2017 0 0 0 50,000 20,000 22,000 0 60,000 152,000 212,000
2017 2018 150 165,000 50,000 0 0 10,000 0 0 225,000 437,000
2018 2019 150 165,000 50,000 0 20,000 6,000 0 0 241,000 678,000
2019 2020 0 0 0 0 0 20,000 40,000 0 60,000 738,000
2020 2021 150 165,000 60,000 0 35,000 0 0 0 260,000 998,000
2021 2022 150 165,000 100,000 50,000 180,000 18,000 0 0 513,000 1,511,000
2022 2023 0 0 120,000 0 0 0 0 300,000 420,000 1,931,000
2023 2024 200 220,000 150,000 50,000 37,000 18,000 0 0 475,000 2,406,000
2024 2025 0 0 140,000 0 50,000 12,000 0 0 202,000 2,608,000
2025 2026 200 220,000 60,000 0 0 0 0 0 280,000 2,888,000
2026 2027 150 165,000 60,000 0 0 5,000 0 0 230,000 3,118,000
2027 2028 150 165,000 60,000 0 20,000 9,000 0 0 254,000 3,372,000
2028 2029 200 220,000 0 0 0 0 0 0 220,000 3,592,000
2029 2030 0 0 0 0 0 0 0 0 0 3,592,000
Total 1,500 1,650,000 910,000 150,000 362,000 120,000 40,000 360,000 3,592,000
Completions Added Residential Stand-Alone Total
During To Roll as of for Rent, If Office, If Big Box, If General, If Restaurant, If Cinema, If Hotel, If Added Cumulative
Calendar Jan. 1,$90 $130 $80 $125 $300 $120 $95 This Year Total
2014 2015 $0 $0 $0 $0 $0 $0 $0 $17,861,549 $17,861,549
2015 2016 $0 $7,800,000 $0 $0 $0 $0 $0 $7,800,000 $25,661,549
2016 2017 $0 $0 $4,000,000 $2,500,000 $6,600,000 $0 $5,700,000 $18,800,000 $44,461,549
2017 2018 $14,850,000 $6,500,000 $0 $0 $3,000,000 $0 $0 $24,350,000 $68,811,549
2018 2019 $14,850,000 $6,500,000 $0 $2,500,000 $1,800,000 $0 $0 $25,650,000 $94,461,549
2019 2020 $0 $0 $0 $0 $6,000,000 $4,800,000 $0 $10,800,000 $105,261,549
2020 2021 $14,850,000 $7,800,000 $0 $4,375,000 $0 $0 $0 $27,025,000 $132,286,549
2021 2022 $14,850,000 $13,000,000 $4,000,000 $22,500,000 $5,400,000 $0 $0 $59,750,000 $192,036,549
2022 2023 $0 $15,600,000 $0 $0 $0 $0 $28,500,000 $44,100,000 $236,136,549
2023 2024 $19,800,000 $19,500,000 $4,000,000 $4,625,000 $5,400,000 $0 $0 $53,325,000 $289,461,549
2024 2025 $0 $18,200,000 $0 $6,250,000 $3,600,000 $0 $0 $28,050,000 $317,511,549
2025 2026 $19,800,000 $7,800,000 $0 $0 $0 $0 $0 $27,600,000 $345,111,549
2026 2027 $14,850,000 $7,800,000 $0 $0 $1,500,000 $0 $0 $24,150,000 $369,261,549
2027 2028 $14,850,000 $7,800,000 $0 $2,500,000 $2,700,000 $0 $0 $27,850,000 $397,111,549
2028 2029 $19,800,000 $0 $0 $0 $0 $0 $0 $19,800,000 $416,911,549
2029 2030 $0 $0 $0 $0 $0 $0 $0 $0 $416,911,549
Total $148,500,000 $118,300,000 $12,000,000 $45,250,000 $36,000,000 $4,800,000 $34,200,000 $397,111,549
Completions Added Residential Stand-Alone Total
During To Roll as of for Rent, If Office, If Big Box, If General, If Restaurant, If Cinema, If Hotel, If Added Cumulative
Calendar Jan. 1,$0 $20 $40 $25 $30 $15 $0 This Year Total
2014 2015 $0 $0 $0 $0 $0 $0 $0 $0 $0
2015 2016 $0 $1,200,000 $0 $0 $0 $0 $0 $1,200,000 $1,200,000
2016 2017 $0 $0 $2,000,000 $500,000 $660,000 $0 $0 $3,160,000 $4,360,000
2017 2018 $0 $1,000,000 $0 $0 $300,000 $0 $0 $1,300,000 $5,660,000
2018 2019 $0 $1,000,000 $0 $500,000 $180,000 $0 $0 $1,680,000 $7,340,000
2019 2020 $0 $0 $0 $0 $600,000 $600,000 $0 $1,200,000 $8,540,000
2020 2021 $0 $1,200,000 $0 $875,000 $0 $0 $0 $2,075,000 $10,615,000
2021 2022 $0 $2,000,000 $2,000,000 $4,500,000 $540,000 $0 $0 $9,040,000 $19,655,000
2022 2023 $0 $2,400,000 $0 $0 $0 $0 $0 $2,400,000 $22,055,000
2023 2024 $0 $3,000,000 $2,000,000 $925,000 $540,000 $0 $0 $6,465,000 $28,520,000
2024 2025 $0 $2,800,000 $0 $1,250,000 $360,000 $0 $0 $4,410,000 $32,930,000
2025 2026 $0 $1,200,000 $0 $0 $0 $0 $0 $1,200,000 $34,130,000
2026 2027 $0 $1,200,000 $0 $0 $150,000 $0 $0 $1,350,000 $35,480,000
2027 2028 $0 $1,200,000 $0 $500,000 $270,000 $0 $0 $1,970,000 $37,450,000
2028 2029 $0 $0 $0 $0 $0 $0 $0 $0 $37,450,000
2029 2030 $0 $0 $0 $0 $0 $0 $0 $0 $37,450,000
Total $0 $18,200,000 $6,000,000 $9,050,000 $3,600,000 $600,000 $0 $37,450,000
Square Feet of Gross Floor Area Added Each Year
Taxable Value of Real Property, Including Land, Based on Typical 2012 Assessments
Per SF of GFA
Retail
Retail
Taxable Value of Business Personal Property, Based on Typical 2012 Assessments
Per SF of GFA
Residential for Rent, If Retail
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 16
Schedule 3:
Summary of Estimated TIRZ Project Costs and Nonproject Costs
Notes:
This summary is based on detailed cost estimates prepared by JBI Partners, Inc. on November 14, 2012.
Costs exclude permits, impact fees, land purchase costs and tree mitigation expenses.
Developer costs exclude buildings.
Costs reflect 2012 prices. No time or inflation factor is included.
Rock excavation, if required, is not included in these estimates.
Tollway crossings are assumed at surface. Costs for bridges are not included.
Carrying costs for cash advances to pay for TIRZ project costs are also TIRZ project costs. The assumed average annual interest rate is 3.5%.
No fees or contingency have been allowed for the braided ramp at U.S Highway 380.
Anticipated grants from the Prosper Economic Development Corpration for capital improvments at Prosper West are included in project costs.
Nonproject Costs Total
TIRZ and PEDC Grant (Public Improvements Public Improvements
TIRZ Project Cost Items Project Costs by Developer)Cost
STREETS AND DRAINAGE SYSTEMS $11,146,567 $2,001,748 $13,148,315
STREET ENHANCEMENTS 0 $1,775,577 $1,775,577
WATER SYSTEM $1,367,722 $1,116,777 $2,484,499
SANITARY SEWER SYSTEM $641,670 $358,204 $999,874
OFFSITE SANITARY SEWER SYSTEM $1,479,282 $0 $1,479,282
DETENTION/RETENTION PONDS & MASS EXCAVATION $0 $2,882,560 $2,882,560
SITEWORK FOR DEVELOPMENT PARCELS $0 $15,750,000 $15,750,000
PARKING DECKS $0 $73,497,600 $73,497,600
STREET LIGHTS $174,000 $210,000 $384,000
TRAFFIC SIGNALS (4 budgeted)$850,000 $0 $850,000
$1,174,992 $0 $1,174,992
PRIMARY ELECTRIC SERVICE LOOP $0 $3,600,000 $3,600,000
ELECTRIC $0 $640,150 $640,150
GAS $0 $448,105 $448,105
STREET N2 - WESTSIDE DNT SERVICE ROAD, LOVERS LN. TO FIRST ST.$1,687,005 $0 $1,687,005
BRAIDED RAMP AT U.S. 380 $4,000,000 $0 $4,000,000
CIVIL ENGINEERING & SURVEYING (10%)$1,852,124 $10,228,072 $12,080,196
CONSTRUCTION STAKING (2%)$370,425 $2,045,614 $2,416,039
CONSTRUCTION MANAGEMENT (<3%)$533,667 $3,068,422 $3,602,089
GEOTECHNICAL STUDY (1%)$185,212 $1,022,807 $1,208,020
LEGAL (1%)$185,212 $1,022,807 $1,208,020
CONTINGENCY (10%)$1,852,124 $10,228,072 $12,080,196
Subtotal $27,500,000 $129,896,516 $157,396,516
TOWN EXPENSE FOR TIRZ ADMINISTRATION (2013 PRESENT VALUE)$916,303 $0 $916,303
Subtotal TIRZ Project Costs Before Finance Expenses $28,416,303 $129,896,516 $158,312,818
LOVERS LANE LOOP OFFSITE - STREET K6
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 17
Schedule 4:
Forecast of Taxable Property and Town Property Taxes from the TIRZ
Notes:Base value of the TIRZ assumes the 2012 taxable value.
Annual forecasts of taxable values added to the roll in 2012 dollars are calculated in a separate schedule. Values are adjusted for inflation in this schedule.
Town of Prosper "rollback" taxes from loss of agricultural status belong to the TIRZ fund. Town rollback taxes are not indicated in this schedule.
The increase in appraised value as of January 1, 2015 assumes all properties are appraised as non-agricultural land for that year.
Annual forecasts of taxable value of land and improvements associated with developed property (in 2012 dollars plus assumed inflation) are added to the tax roll on Jan. 1 following assumed completions.
The 2012 tax rate is assumed constant. Actual rates will be set annually.
No tax abatements or tax exemptions have been assumed.
(a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n)
Appraisal Before Forecast CCAD Appraisal Total Taxable Appraisal Without Forecast CCAD Appraisal
Improvements of Improved Properties Real Property in Structures Due to Personal Property Cumulative
Added This Year;Added to Roll This Year,Property Town Completed This Year;Added This Year,BPP Town Total Town
Property If Post-completion If Inflated Appraisal Real Property Post-completion If Inflated Appraisal BPP Appraisal Total Property
Appraised Tax Deposited Appraisals Rise 2.00%Total Tax @ Appraisals Rise 2.00%Total Tax @ Forecast Town Tax
TIRZ Value for to TIRZ Fund 1.00%Annually from 1/1/13 for Jan. 1 $0.52 1.00%Annually from 1/1/13 for Jan. 1 $0.52 for Jan. 1 Property After
Year Jan. 1, by May 1, Annually After 1/1/13 Through Year Added of This Year per $100 Annually After 1/1/13 Through This Year of This Year per $100 of This Year Tax Base Year
Base 2012 2013 $0 $29,413 $153 $0 $0 $0 $29,413 $153
1 2013 2014 $29,413 $0 $29,413 $153 $0 $0 $0 $0 $29,413 $153 $153
2 2014 2015 $29,707 $0 $29,707 $154 $0 $0 $0 $0 $29,707 $154 $307
3 2015 2016 $30,004 $18,583,155 $18,613,160 $96,788 $0 $0 $0 $0 $18,613,160 $96,788 $97,096
4 2016 2017 $18,799,291 $8,277,422 $27,076,714 $140,799 $0 $1,273,450 $1,273,450 $6,622 $28,350,163 $147,421 $244,517
5 2017 2018 $27,347,481 $20,349,725 $47,697,205 $248,025 $1,286,184 $3,420,486 $4,706,670 $24,475 $52,403,875 $272,500 $517,017
6 2018 2019 $48,174,177 $26,884,368 $75,058,545 $390,304 $4,753,736 $1,435,305 $6,189,041 $32,183 $81,247,587 $422,487 $939,504
7 2019 2020 $75,809,130 $28,886,066 $104,695,197 $544,415 $6,250,932 $1,891,953 $8,142,885 $42,343 $112,838,081 $586,758 $1,526,262
8 2020 2021 $105,742,149 $12,405,805 $118,147,954 $614,369 $8,224,314 $1,378,423 $9,602,736 $49,934 $127,750,690 $664,304 $2,190,566
9 2021 2022 $119,329,433 $31,664,095 $150,993,528 $785,166 $9,698,764 $2,431,193 $12,129,957 $63,076 $163,123,485 $848,242 $3,038,808
10 2022 2023 $152,503,463 $71,406,781 $223,910,244 $1,164,333 $12,251,257 $10,803,637 $23,054,893 $119,885 $246,965,138 $1,284,219 $4,323,027
11 2023 2024 $226,149,347 $53,757,654 $279,907,001 $1,455,516 $23,285,442 $2,925,587 $26,211,029 $136,297 $306,118,030 $1,591,814 $5,914,841
12 2024 2025 $282,706,071 $66,302,935 $349,009,006 $1,814,847 $26,473,139 $8,038,415 $34,511,554 $179,460 $383,520,560 $1,994,307 $7,909,147
13 2025 2026 $352,499,096 $35,574,182 $388,073,278 $2,017,981 $34,856,670 $5,592,946 $40,449,616 $210,338 $428,522,894 $2,228,319 $10,137,466
14 2026 2027 $391,954,011 $35,703,543 $427,657,554 $2,223,819 $40,854,112 $1,552,328 $42,406,440 $220,513 $470,063,994 $2,444,333 $12,581,799
15 2027 2028 $431,934,129 $31,865,412 $463,799,542 $2,411,758 $42,830,504 $1,781,296 $44,611,801 $231,981 $508,411,342 $2,643,739 $15,225,538
16 2028 2029 $468,437,537 $0 $468,437,537 $2,435,875 $45,057,919 $0 $45,057,919 $234,301 $513,495,456 $2,670,176 $17,895,715
17 2029 2030 $473,121,912 $0 $473,121,912 $2,460,234 $45,508,498 $0 $45,508,498 $236,644 $518,630,410 $2,696,878 $20,592,593
18 2030 2031 $477,853,131 $0 $477,853,131 $2,484,836 $45,963,583 $0 $45,963,583 $239,011 $523,816,714 $2,723,847 $23,316,440
19 2031 2032 $482,631,663 $0 $482,631,663 $2,509,685 $46,423,219 $0 $46,423,219 $241,401 $529,054,882 $2,751,085 $26,067,525
20 2032 2033 $487,457,979 $0 $487,457,979 $2,534,781 $46,887,451 $0 $46,887,451 $243,815 $534,345,430 $2,778,596 $28,846,121
21 2033 2034 $492,332,559 $0 $492,332,559 $2,560,129 $47,356,325 $0 $47,356,325 $246,253 $539,688,885 $2,806,382 $31,652,503
22 2034 2035 $497,255,885 $0 $497,255,885 $2,585,731 $47,829,889 $0 $47,829,889 $248,715 $545,085,773 $2,834,446 $34,486,949
23 2035 2036 $502,228,444 $0 $502,228,444 $2,611,588 $48,308,188 $0 $48,308,188 $251,203 $550,536,631 $2,862,790 $37,349,740
24 2036 2037 $507,250,728 $0 $507,250,728 $2,637,704 $48,791,270 $0 $48,791,270 $253,715 $556,041,998 $2,891,418 $40,241,158
25 2037 2038 $512,323,235 $0 $512,323,235 $2,664,081 $49,279,182 $0 $49,279,182 $256,252 $561,602,418 $2,920,333 $43,161,491
26 2038 2039 $517,446,468 $0 $517,446,468 $2,690,722 $49,771,974 $0 $49,771,974 $258,814 $567,218,442 $2,949,536 $46,111,027
27 2039 2040 $522,620,932 $0 $522,620,932 $2,717,629 $50,269,694 $0 $50,269,694 $261,402 $572,890,626 $2,979,031 $49,090,058
28 2040 2041 $527,847,142 $0 $527,847,142 $2,744,805 $50,772,391 $0 $50,772,391 $264,016 $578,619,532 $3,008,822 $52,098,880
29 2041 2042 $533,125,613 $0 $533,125,613 $2,772,253 $51,280,115 $0 $51,280,115 $266,657 $584,405,728 $3,038,910 $55,137,789
30 2042 2043 $538,456,869 $0 $538,456,869 $2,799,976 $51,792,916 $0 $51,792,916 $269,323 $590,249,785 $3,069,299 $58,207,088
31 2043 2044 $543,841,438 $0 $543,841,438 $2,827,975 $52,310,845 $0 $52,310,845 $272,016 $596,152,283 $3,099,992 $61,307,080
32 2044 2045 $549,279,852 $0 $549,279,852 $2,856,255 $52,833,953 $0 $52,833,953 $274,737 $602,113,806 $3,130,992 $64,438,072
33 2045 2046 $554,772,651 $0 $554,772,651 $2,884,818 $53,362,293 $0 $53,362,293 $277,484 $608,134,944 $3,162,302 $67,600,374
34 2046 2047 $560,320,377 $0 $560,320,377 $2,913,666 $53,895,916 $0 $53,895,916 $280,259 $614,216,293 $3,193,925 $70,794,298
35 2047 2048 $565,923,581 $0 $565,923,581 $2,942,803 $54,434,875 $0 $54,434,875 $283,061 $620,358,456 $3,225,864 $74,020,162
36 2048 2049 $571,582,817 $0 $571,582,817 $2,972,231 $54,979,224 $0 $54,979,224 $285,892 $626,562,041 $3,258,123 $77,278,285
37 2049 2050 $577,298,645 $0 $577,298,645 $3,001,953 $55,529,016 $0 $55,529,016 $288,751 $632,827,661 $3,290,704 $80,568,989
38 2050 2051 $583,071,632 $0 $583,071,632 $3,031,972 $56,084,306 $0 $56,084,306 $291,638 $639,155,938 $3,323,611 $83,892,600
39 2051 2052 $588,902,348 $0 $588,902,348 $3,062,292 $56,645,149 $0 $56,645,149 $294,555 $645,547,497 $3,356,847 $87,249,447
40 2052 2053 $594,791,371 $0 $594,791,371 $3,092,915 $57,211,601 $0 $57,211,601 $297,500 $652,002,972 $3,390,415 $90,639,862
Total for years 1-40 $441,661,143 $82,705,339 $42,525,018 $7,934,523 $90,639,862
Business Personal Property Total PropertyReal Property
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 18
Schedule 5:
Forecast of Taxable Property and County Property Taxes from the TIRZ
Notes:Base value of the TIRZ assumes the 2012 taxable value.
Annual forecasts of taxable values added to the roll in 2012 dollars are calculated in a separate schedule. Values are adjusted for inflation in this schedule.
The increase in appraised value as of January 1, 2015 assumes all properties are appraised as non-agricultural land for that year.
Annual forecasts of taxable value of land and improvements associated with developed property (in 2012 dollars plus assumed inflation) are added to the tax roll on Jan. 1 following assumed completions.
The 2012 tax rate is assumed constant. Actual rates will be set annually.
No tax abatements or tax exemptions have been assumed.
(a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n)
Appraisal Before Forecast CCAD Appraisal Total Taxable Appraisal Without Forecast CCAD Appraisal
Improvements of Improved Properties Real Property in Structures Due to Personal Property Cumulative
Added This Year;Added to Roll This Year,Property County Completed This Year;Added This Year,BPP County Total County
Property If Post-completion If Inflated Appraisal Real Property Post-completion If Inflated Appraisal BPP Appraisal Total Property
Appraised Tax Deposited Appraisals Rise 2.00%Total Tax @ Appraisals Rise 2.00%Total Tax @ Forecast County Tax
TIRZ Value for to TIRZ Fund 1.00%Annually from 1/1/13 for Jan. 1 $0.24 1.00%Annually from 1/1/13 for Jan. 1 $0.24 for Jan. 1 Property After
Year Jan. 1, by May 1, Annually After 1/1/13 Through Year Added of This Year per $100 Annually After 1/1/13 Through This Year of This Year per $100 of This Year Tax Base Year
Base 2012 2013 $0 $29,413 $71 $0 $0 $0 $0 $29,413 $71
1 2013 2014 $29,413 $0 $29,413 $71 $0 $0 $0 $0 $29,413 $71 $71
2 2014 2015 $29,707 $0 $29,707 $71 $0 $0 $0 $0 $29,707 $71 $142
3 2015 2016 $30,004 $18,583,155 $18,613,160 $44,672 $0 $0 $0 $0 $18,613,160 $44,672 $44,813
4 2016 2017 $18,799,291 $8,277,422 $27,076,714 $64,984 $0 $1,273,450 $1,273,450 $3,056 $28,350,163 $68,040 $112,854
5 2017 2018 $27,347,481 $20,349,725 $47,697,205 $114,473 $1,286,184 $3,420,486 $4,706,670 $11,296 $52,403,875 $125,769 $238,623
6 2018 2019 $48,174,177 $26,884,368 $75,058,545 $180,141 $4,753,736 $1,435,305 $6,189,041 $14,854 $81,247,587 $194,994 $433,617
7 2019 2020 $75,809,130 $28,886,066 $104,695,197 $251,268 $6,250,932 $1,891,953 $8,142,885 $19,543 $112,838,081 $270,811 $704,429
8 2020 2021 $105,742,149 $12,405,805 $118,147,954 $283,555 $8,224,314 $1,378,423 $9,602,736 $23,047 $127,750,690 $306,602 $1,011,030
9 2021 2022 $119,329,433 $31,664,095 $150,993,528 $362,384 $9,698,764 $2,431,193 $12,129,957 $29,112 $163,123,485 $391,496 $1,402,527
10 2022 2023 $152,503,463 $71,406,781 $223,910,244 $537,385 $12,251,257 $10,803,637 $23,054,893 $55,332 $246,965,138 $592,716 $1,995,243
11 2023 2024 $226,149,347 $53,757,654 $279,907,001 $671,777 $23,285,442 $2,925,587 $26,211,029 $62,906 $306,118,030 $734,683 $2,729,926
12 2024 2025 $282,706,071 $66,302,935 $349,009,006 $837,622 $26,473,139 $8,038,415 $34,511,554 $82,828 $383,520,560 $920,449 $3,650,376
13 2025 2026 $352,499,096 $35,574,182 $388,073,278 $931,376 $34,856,670 $5,592,946 $40,449,616 $97,079 $428,522,894 $1,028,455 $4,678,831
14 2026 2027 $391,954,011 $35,703,543 $427,657,554 $1,026,378 $40,854,112 $1,552,328 $42,406,440 $101,775 $470,063,994 $1,128,154 $5,806,984
15 2027 2028 $431,934,129 $31,865,412 $463,799,542 $1,113,119 $42,830,504 $1,781,296 $44,611,801 $107,068 $508,411,342 $1,220,187 $7,027,171
16 2028 2029 $468,437,537 $0 $468,437,537 $1,124,250 $45,057,919 $0 $45,057,919 $108,139 $513,495,456 $1,232,389 $8,259,561
17 2029 2030 $473,121,912 $0 $473,121,912 $1,135,493 $45,508,498 $0 $45,508,498 $109,220 $518,630,410 $1,244,713 $9,504,274
18 2030 2031 $477,853,131 $0 $477,853,131 $1,146,848 $45,963,583 $0 $45,963,583 $110,313 $523,816,714 $1,257,160 $10,761,434
19 2031 2032 $482,631,663 $0 $482,631,663 $1,158,316 $46,423,219 $0 $46,423,219 $111,416 $529,054,882 $1,269,732 $12,031,165
20 2032 2033 $487,457,979 $0 $487,457,979 $1,169,899 $46,887,451 $0 $46,887,451 $112,530 $534,345,430 $1,282,429 $13,313,594
21 2033 2034 $492,332,559 $0 $492,332,559 $1,181,598 $47,356,325 $0 $47,356,325 $113,655 $539,688,885 $1,295,253 $14,608,848
22 2034 2035 $497,255,885 $0 $497,255,885 $1,193,414 $47,829,889 $0 $47,829,889 $114,792 $545,085,773 $1,308,206 $15,917,054
23 2035 2036 $502,228,444 $0 $502,228,444 $1,205,348 $48,308,188 $0 $48,308,188 $115,940 $550,536,631 $1,321,288 $17,238,342
24 2036 2037 $507,250,728 $0 $507,250,728 $1,217,402 $48,791,270 $0 $48,791,270 $117,099 $556,041,998 $1,334,501 $18,572,842
25 2037 2038 $512,323,235 $0 $512,323,235 $1,229,576 $49,279,182 $0 $49,279,182 $118,270 $561,602,418 $1,347,846 $19,920,688
26 2038 2039 $517,446,468 $0 $517,446,468 $1,241,872 $49,771,974 $0 $49,771,974 $119,453 $567,218,442 $1,361,324 $21,282,012
27 2039 2040 $522,620,932 $0 $522,620,932 $1,254,290 $50,269,694 $0 $50,269,694 $120,647 $572,890,626 $1,374,938 $22,656,950
28 2040 2041 $527,847,142 $0 $527,847,142 $1,266,833 $50,772,391 $0 $50,772,391 $121,854 $578,619,532 $1,388,687 $24,045,637
29 2041 2042 $533,125,613 $0 $533,125,613 $1,279,501 $51,280,115 $0 $51,280,115 $123,072 $584,405,728 $1,402,574 $25,448,211
30 2042 2043 $538,456,869 $0 $538,456,869 $1,292,296 $51,792,916 $0 $51,792,916 $124,303 $590,249,785 $1,416,599 $26,864,810
31 2043 2044 $543,841,438 $0 $543,841,438 $1,305,219 $52,310,845 $0 $52,310,845 $125,546 $596,152,283 $1,430,765 $28,295,575
32 2044 2045 $549,279,852 $0 $549,279,852 $1,318,272 $52,833,953 $0 $52,833,953 $126,801 $602,113,806 $1,445,073 $29,740,649
33 2045 2046 $554,772,651 $0 $554,772,651 $1,331,454 $53,362,293 $0 $53,362,293 $128,070 $608,134,944 $1,459,524 $31,200,172
34 2046 2047 $560,320,377 $0 $560,320,377 $1,344,769 $53,895,916 $0 $53,895,916 $129,350 $614,216,293 $1,474,119 $32,674,292
35 2047 2048 $565,923,581 $0 $565,923,581 $1,358,217 $54,434,875 $0 $54,434,875 $130,644 $620,358,456 $1,488,860 $34,163,152
36 2048 2049 $571,582,817 $0 $571,582,817 $1,371,799 $54,979,224 $0 $54,979,224 $131,950 $626,562,041 $1,503,749 $35,666,901
37 2049 2050 $577,298,645 $0 $577,298,645 $1,385,517 $55,529,016 $0 $55,529,016 $133,270 $632,827,661 $1,518,786 $37,185,687
38 2050 2051 $583,071,632 $0 $583,071,632 $1,399,372 $56,084,306 $0 $56,084,306 $134,602 $639,155,938 $1,533,974 $38,719,661
39 2051 2052 $588,902,348 $0 $588,902,348 $1,413,366 $56,645,149 $0 $56,645,149 $135,948 $645,547,497 $1,549,314 $40,268,975
40 2052 2053 $594,791,371 $0 $594,791,371 $1,427,499 $57,211,601 $0 $57,211,601 $137,308 $652,002,972 $1,564,807 $41,833,783
Total for years 1-40 $441,661,143 $38,171,695 $42,525,018 $3,662,088 $41,833,783
Business Personal Property Total PropertyReal Property
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 19
Schedule 6:
Forecast of Real Property Tax increments to the TIRZ Fund
Notes:Actual cash flow to a TIRZ fund depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast.
2012 tax rates are assumed constant. Actual rates will be set annually.
Prosper and Collin County will commit to pay specified percentages of real property tax increments to the TIRZ fund for a specified term of years. Cash flow to the TIRZ fund may be
terminated if and when the fund has no outstanding financial obligations.
Prosper will stipulate obligations (for example, completion of specific improvements before a specific date) to be met before disbursement of cash from the TIRZ fund.
If the TIRZ fund has insufficient cash to pay City administrative expenses for the TIRZ program, expenses are accrued until paid and shall be senior to all other claims on the TIRZ fund.
100% of Town rollback taxes due to switching from agricultural production value to market value as the basis for property taxation will flow to the TIRZ fund, but rollback taxes are not
modeled in this schedule. Total value of Town property tax rollbacks for the TIRZ will approximate $500,000.
(a) (b) (c) (d)(e)(f)(g)(h)(i) (j)(k)(l)(m)(n)
Captured Total Town Tax Total County Tax From From Less
For Tax Taxable Appraised on Captured % of on Captured % of Prosper County TIRZ Program Total,
Appraisals Receipts Real Value of Appraised Town Appraised County Real Real Town Net of
on Jan. 1,Flow to Property Real Property Value @ RP Tax Value @ RP Tax Property Property Administrative Accrued
TIRZ or Sales in TIRZ Fund (From (Taxable less $0.52 Increments $0.24 Increments Tax Tax Expense Administrative
Year Calendar by May 1, Schedule 4) 2012 base) Tax Rate To TIRZ Tax Rate To TIRZ Increments Increments Total (Estimated) Expenses
Base 2012 2013 $29,413 $0 $0 0%$0 0%$0 $0 $0 $60,000 $0
1 2013 2014 $29,413 $0 $0 70%$0 50%$0 $0 $0 $30,000 $0
2 2014 2015 $29,707 $294 $2 70%$1 50%$1 $0 $1 $30,600 $0
3 2015 2016 $18,613,160 $18,583,747 $96,635 70% $44,601 50% $67,645 $22,300 $89,945 $45,000 $0
4 2016 2017 $27,076,714 $27,047,301 $140,646 70% $64,914 50% $98,452 $32,457 $130,909 $45,900 $69,356
5 2017 2018 $47,697,205 $47,667,792 $247,873 70% $114,403 50% $173,511 $57,201 $230,712 $46,818 $183,894
6 2018 2019 $75,058,545 $75,029,132 $390,151 70% $180,070 50% $273,106 $90,035 $363,141 $47,754 $315,387
7 2019 2020 $104,695,197 $104,665,784 $544,262 70% $251,198 50% $380,983 $125,599 $506,582 $48,709 $457,873
8 2020 2021 $118,147,954 $118,118,541 $614,216 70% $283,484 50% $429,951 $141,742 $571,694 $49,684 $522,010
9 2021 2022 $150,993,528 $150,964,115 $785,013 70% $362,314 50% $549,509 $181,157 $730,666 $50,677 $679,989
10 2022 2023 $223,910,244 $223,880,831 $1,164,180 70% $537,314 50% $814,926 $268,657 $1,083,583 $51,691 $1,031,892
11 2023 2024 $279,907,001 $279,877,588 $1,455,363 70% $671,706 50% $1,018,754 $335,853 $1,354,608 $52,725 $1,301,883
12 2024 2025 $349,009,006 $348,979,593 $1,814,694 70% $837,551 50% $1,270,286 $418,776 $1,689,061 $53,779 $1,635,282
13 2025 2026 $388,073,278 $388,043,865 $2,017,828 70% $931,305 50% $1,412,480 $465,653 $1,878,132 $54,855 $1,823,278
14 2026 2027 $427,657,554 $427,628,141 $2,223,666 70% $1,026,308 50% $1,556,566 $513,154 $2,069,720 $55,952 $2,013,768
15 2027 2028 $463,799,542 $463,770,128 $2,411,605 70% $1,113,048 50% $1,688,123 $556,524 $2,244,647 $57,071 $2,187,577
16 2028 2029 $468,437,537 $468,408,124 $2,435,722 70% $1,124,179 50% $1,705,006 $562,090 $2,267,095 $58,212 $2,208,883
17 2029 2030 $473,121,912 $473,092,499 $2,460,081 70% $1,135,422 50% $1,722,057 $567,711 $2,289,768 $59,377 $2,230,391
18 2030 2031 $477,853,131 $477,823,718 $2,484,683 70% $1,146,777 50% $1,739,278 $573,388 $2,312,667 $60,564 $2,252,103
19 2031 2032 $482,631,663 $482,602,250 $2,509,532 70% $1,158,245 50% $1,756,672 $579,123 $2,335,795 $61,775 $2,274,020
20 2032 2033 $487,457,979 $487,428,566 $2,534,629 70% $1,169,829 50% $1,774,240 $584,914 $2,359,154 $63,011 $2,296,143
21 2033 2034 $492,332,559 $492,303,146 $2,559,976 70% $1,181,528 50% $1,791,983 $590,764 $2,382,747 $64,271 $2,318,476
22 2034 2035 $497,255,885 $497,226,472 $2,585,578 70% $1,193,344 50% $1,809,904 $596,672 $2,406,576 $65,557 $2,341,020
23 2035 2036 $502,228,444 $502,199,031 $2,611,435 70% $1,205,278 50% $1,828,004 $602,639 $2,430,643 $66,868 $2,363,776
24 2036 2037 $507,250,728 $507,221,315 $2,637,551 70% $1,217,331 50% $1,846,286 $608,666 $2,454,951 $68,205 $2,386,746
25 2037 2038 $512,323,235 $512,293,822 $2,663,928 70% $1,229,505 50% $1,864,750 $614,753 $2,479,502 $69,569 $2,409,933
26 2038 2039 $517,446,468 $517,417,055 $2,690,569 0% $1,241,801 0%$0 $0 $0 $0 $0
27 2039 2040 $522,620,932 $522,591,519 $2,717,476 0% $1,254,220 0%$0 $0 $0 $0 $0
28 2040 2041 $527,847,142 $527,817,729 $2,744,652 0% $1,266,763 0%$0 $0 $0 $0 $0
29 2041 2042 $533,125,613 $533,096,200 $2,772,100 0% $1,279,431 0%$0 $0 $0 $0 $0
30 2042 2043 $538,456,869 $538,427,456 $2,799,823 0% $1,292,226 0%$0 $0 $0 $0 $0
31 2043 2044 $543,841,438 $543,812,025 $2,827,823 0% $1,305,149 0%$0 $0 $0 $0 $0
32 2044 2045 $549,279,852 $549,250,439 $2,856,102 0% $1,318,201 0%$0 $0 $0 $0 $0
33 2045 2046 $554,772,651 $554,743,238 $2,884,665 0% $1,331,384 0%$0 $0 $0 $0 $0
34 2046 2047 $560,320,377 $560,290,964 $2,913,513 0% $1,344,698 0%$0 $0 $0 $0 $0
35 2047 2048 $565,923,581 $565,894,168 $2,942,650 0% $1,358,146 0%$0 $0 $0 $0 $0
36 2048 2049 $571,582,817 $571,553,404 $2,972,078 0% $1,371,728 0%$0 $0 $0 $0 $0
37 2049 2050 $577,298,645 $577,269,232 $3,001,800 0% $1,385,446 0%$0 $0 $0 $0 $0
38 2050 2051 $583,071,632 $583,042,218 $3,031,820 0% $1,399,301 0%$0 $0 $0 $0 $0
39 2051 2052 $588,902,348 $588,872,935 $3,062,139 0% $1,413,295 0%$0 $0 $0 $0 $0
40 2052 2053 $594,791,371 $594,761,958 $3,092,762 0% $1,427,429 0%$0 $0 $0 $0 $0
Total for years 1-40 $82,699,221 $38,168,871 $27,572,475 $9,089,827 $36,662,302 $1,358,623 $35,303,679
Captured Appraised Values and Real Property Tax Increments Tax to the TIRZ Fund
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 20
Schedule 7:
Forecast of Taxable Sales from Stores, Restaurants and Cinemas in the TIRZ, in 2012 Dollars
Part A: Cumulative Square Feet of Gross Floor Area
Notes: Statistics about retail store type, floor area and completion year are from a separate schedule.
Restaurants and shops within hotels are not included here. Taxable sales and taxes from hotels are forecast in other schedules.
(a)(b)(c)(d)(e)(f)(g)
Retail SF Ready for
on Property Roll Occupancy Big Box General All
as of Jan. 1,July 1,Retail Retail Restaurant Cinema Named Categories
2015 2014 0 0 0 0 0
2016 2015 0 0 0 0 0
2017 2016 50,000 20,000 22,000 0 92,000
2018 2017 50,000 20,000 32,000 0 102,000
2019 2018 50,000 40,000 38,000 0 128,000
2020 2019 50,000 40,000 58,000 40,000 188,000
2021 2020 50,000 75,000 58,000 40,000 223,000
2022 2021 100,000 255,000 76,000 40,000 471,000
2023 2022 100,000 255,000 76,000 40,000 471,000
2024 2023 150,000 292,000 94,000 40,000 576,000
2025 2024 150,000 342,000 106,000 40,000 638,000
2026 2025 150,000 342,000 106,000 40,000 638,000
2027 2026 150,000 342,000 111,000 40,000 643,000
2028 2027 150,000 362,000 120,000 40,000 672,000
Part B: Annual Sales Volume Subject to Municipal Sales Tax, in 2012 Dollars (Before Inflation)
Notes: Gross floor areas are as assumed in Part A.
Stated percentages of store spaces are assumed occupied when space is ready for occupancy on July 1 of each year. This may
overstate sales for the initial years.
Sales from July 1 through December are assumed to constitute 60% of annual sales.
Sales per square foot of gross floor area are estimates by Stein Planning, LLC, based on norms that may vary widely.
Food for home preparation, health items, alcoholic beverages, autos, gasoline, tax holiday items and items for resale are not
subject to municipal sales tax.
Percentages of sales that are taxable are an allowance for exemptions and discounts to merchants for timely tax payments.
(a)(b)(c)(d)(e)(f)
If Big Box If General If Restaurant If Cinema
Retail Sales Are Retail Sales Are Sales Are Sales Are
$225 $225 $400 $120
Annual Sales 95%95%98%98%
Forecast
Through
Dec. 31,95%90%90%95%All Taxable Sales
2014 $0 $0 $0 $0 $0
2015 $0 $0 $0 $0 $0
2016 $6,091,875 $2,308,500 $4,656,960 $0 $13,057,335
2017 $10,153,125 $3,847,500 $9,878,400 $0 $23,879,025
2018 $10,153,125 $6,156,000 $12,559,680 $0 $28,868,805
2019 $10,153,125 $7,695,000 $17,640,000 $2,681,280 $38,169,405
2020 $10,153,125 $11,734,875 $20,462,400 $4,468,800 $46,819,200
2021 $16,245,000 $35,204,625 $24,272,640 $4,468,800 $80,191,065
2022 $20,306,250 $49,055,625 $26,812,800 $4,468,800 $100,643,475
2023 $26,398,125 $53,326,350 $30,623,040 $4,468,800 $114,816,315
2024 $30,459,375 $61,944,750 $35,703,360 $4,468,800 $132,576,285
2025 $30,459,375 $65,792,250 $37,396,800 $4,468,800 $138,117,225
2026 $30,459,375 $65,792,250 $38,455,200 $4,468,800 $139,175,625
2027 $30,459,375 $68,100,750 $41,065,920 $4,468,800 $144,094,845
per Square Foot of Gross Floor Area;
And If Occupancy is:
If Taxable Sales are These Percentages of Volume:
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 21
Schedule 8:
Forecast of Hotel Sales, Town Hotel Occupancy Tax and Hotel Sales Subject to Sales Tax
Notes:This assumes a hotel with 60,000 square feet of gross floor area opens at the beginning of 2017 and a hotel with 300,000 opens at the beginning of 2021.
Number of rooms assumes 925 square feet of gross floor area per room.
Revenue per available room is based on Texas Comptroller records from four recent quarters for similarly sized hotels in neighboring Frisco, Texas.
Uses for hotel occupancy tax are limited to convention facilities and other items specified by Texas law.
Hotel food and shop sales typically range from $0 to 40% of room revenue, depending on the type of hotel.
(a) (b)(c)(d)(e)(f)(g)(h)(i)(j)
Town Hotel Hotel Items Subject to
Taxable RevPAR Total Annual Taxable Occupancy Sales Tax, If
Nightly Room (Nightly Room Annual Taxable Room Revenue Tax @ 10%
Year Revenue per Revenue per Room Revenue Inflated 7.00%of Taxable Room Sales
TIRZ Ending Available Available Room,Available Available Room), for 365 Nights,1.00%Based on Room on Second Hotel, in 2012 Dollars
Year 4Q, Rooms in 2012 Dollars Rooms in 2012 Dollars in 2012 Dollars Annually from 1/1/13 Revenue as Inflated (to Schedule 9)
Base 2012 0 $0 0 $0 $0 $0 $0 $0
1 2013 0 $0 0 $0 $0 $0 $0 $0
2 2014 0 $0 0 $0 $0 $0 $0 $0
3 2015 0 $0 0 $0 $0 $0 $0 $0
4 2016 0 $0 0 $0 $0 $0 $0 $0
5 2017 65 $46 0 $0 $1,089,081 $1,144,635 $80,124 $0
6 2018 65 $46 0 $0 $1,089,081 $1,156,082 $80,926 $0
7 2019 65 $46 0 $0 $1,089,081 $1,167,642 $81,735 $0
8 2020 65 $46 0 $0 $1,089,081 $1,179,319 $82,552 $0
9 2021 65 $46 0 $0 $1,089,081 $1,191,112 $83,378 $0
10 2022 65 $46 0 $0 $1,089,081 $1,203,023 $84,212 $0
11 2023 65 $46 324 $94 $12,216,649 $13,629,728 $954,081 $1,112,757
12 2024 65 $46 324 $94 $12,216,649 $13,766,025 $963,622 $1,112,757
13 2025 65 $46 324 $94 $12,216,649 $13,903,686 $973,258 $1,112,757
14 2026 65 $46 324 $94 $12,216,649 $14,042,723 $982,991 $1,112,757
15 2027 65 $46 324 $94 $12,216,649 $14,183,150 $992,820 $1,112,757
16 2028 65 $46 324 $94 $12,216,649 $14,324,981 $1,002,749 $1,112,757
17 2029 65 $46 324 $94 $12,216,649 $14,468,231 $1,012,776 $1,112,757
18 2030 65 $46 324 $94 $12,216,649 $14,612,913 $1,022,904 $1,112,757
19 2031 65 $46 324 $94 $12,216,649 $14,759,043 $1,033,133 $1,112,757
20 2032 65 $46 324 $94 $12,216,649 $14,906,633 $1,043,464 $1,112,757
21 2033 65 $46 324 $94 $12,216,649 $15,055,699 $1,053,899 $1,112,757
22 2034 65 $46 324 $94 $12,216,649 $15,206,256 $1,064,438 $1,112,757
23 2035 65 $46 324 $94 $12,216,649 $15,358,319 $1,075,082 $1,112,757
24 2036 65 $46 324 $94 $12,216,649 $15,511,902 $1,085,833 $1,112,757
25 2037 65 $46 324 $94 $12,216,649 $15,667,021 $1,096,691 $1,112,757
26 2038 65 $46 324 $94 $12,216,649 $15,823,691 $1,107,658 $1,112,757
27 2039 65 $46 324 $94 $12,216,649 $15,981,928 $1,118,735 $1,112,757
28 2040 65 $46 324 $94 $12,216,649 $16,141,748 $1,129,922 $1,112,757
29 2041 65 $46 324 $94 $12,216,649 $16,303,165 $1,141,222 $1,112,757
30 2042 65 $46 324 $94 $12,216,649 $16,466,197 $1,152,634 $1,112,757
31 2043 65 $46 324 $94 $12,216,649 $16,630,859 $1,164,160 $1,112,757
32 2044 65 $46 324 $94 $12,216,649 $16,797,167 $1,175,802 $1,112,757
33 2045 65 $46 324 $94 $12,216,649 $16,965,139 $1,187,560 $1,112,757
34 2046 65 $46 324 $94 $12,216,649 $17,134,790 $1,199,435 $1,112,757
35 2047 65 $46 324 $94 $12,216,649 $17,306,138 $1,211,430 $1,112,757
36 2048 65 $46 324 $94 $12,216,649 $17,479,200 $1,223,544 $1,112,757
37 2049 65 $46 324 $94 $12,216,649 $17,653,992 $1,235,779 $1,112,757
38 2050 65 $46 324 $94 $12,216,649 $17,830,531 $1,248,137 $1,112,757
39 2051 65 $46 324 $94 $12,216,649 $18,008,837 $1,260,619 $1,112,757
40 2052 65 $46 324 $94 $12,216,649 $18,188,925 $1,273,225 $1,112,757
Total for years 1-40 $481,150,430 $33,680,530 $33,382,703
First Hotel Second Hotel
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 22
Schedule 9:
Forecast of Total Municipal Sales Tax Generated in the TIRZ
Notes:Because little or no sales tax was generated in the TIRZ in base year 2012, all sales volume subject to sales tax in future years is assumed to be incremental sales.
Sales volume and sales tax depend on actual development volume, timing of development, tenants, and other factors. They may be more or less than this forecast.
Annual sales volume forecasts of construction materials used in the zone (provided delivery is taken in the zone) are based on assumptions that (a) materials are
delivered in the zone in the twelve months before a project appears on the tax roll as completed; (b) materials are 30% of completed project value;
(c) improvement values are 75% of total project value; (d) taxable value is 85% of actual project value; (e) some slippage occurs in that some deliveries are
taken outside the TIRZ. The assumed conversion to non-agricultural value on Jan. 1, 2015 does not trigger sales tax.
(a) (b) (c)(d)(e)(f)(g)(h)(i)(j)(k)(l)
For Construction
Sales, If
Sales Tax From Stores, From Hotel Materials Are
Receipts Restaurants Food and 25%Total,
Credited to and Cinemas, Shop Sales, of Taxable Real Property If Inflated Prosper Prosper
Designated In 2012 Dollars In 2012 Dollars Value Added to Roll 1.00% Prosper EDC Property Tax
TIRZ Through Account (From (From Through Dec. 31 of Year,Total, Annually General @ 4A @ Relief @ Total @
Year Dec. 31, by May 1, Schedule 7) Schedule 8) In 2012 Dollars In 2012 Dollars After 12/31/12 1.00% 0.50% 0.50% 2.00%
Base 2012 2013 $0 $0 $0 $0 $0 $0 $0 $0 $0
1 2013 2014 $0 $0 $0 $0 $0 $0 $0 $0 $0
2 2014 2015 $0 $0 $0 $0 $0 $0 $0 $0 $0
3 2015 2016 $0 $0 $1,950,000 $1,950,000 $2,009,087 $20,091 $10,045 $10,045 $40,182
4 2016 2017 $13,057,335 $0 $4,700,000 $17,757,335 $18,478,354 $184,784 $92,392 $92,392 $369,567
5 2017 2018 $23,879,025 $0 $6,087,500 $29,966,525 $31,495,119 $314,951 $157,476 $157,476 $629,902
6 2018 2019 $28,868,805 $0 $6,412,500 $35,281,305 $37,451,816 $374,518 $187,259 $187,259 $749,036
7 2019 2020 $38,169,405 $0 $2,700,000 $40,869,405 $43,817,534 $438,175 $219,088 $219,088 $876,351
8 2020 2021 $46,819,200 $0 $6,756,250 $53,575,450 $58,014,535 $580,145 $290,073 $290,073 $1,160,291
9 2021 2022 $80,191,065 $0 $14,937,500 $95,128,565 $104,040,711 $1,040,407 $520,204 $520,204 $2,080,814
10 2022 2023 $100,643,475 $0 $11,025,000 $111,668,475 $123,351,468 $1,233,515 $616,757 $616,757 $2,467,029
11 2023 2024 $114,816,315 $1,112,757 $13,331,250 $129,260,322 $144,211,649 $1,442,116 $721,058 $721,058 $2,884,233
12 2024 2025 $132,576,285 $1,112,757 $7,012,500 $140,701,542 $158,546,019 $1,585,460 $792,730 $792,730 $3,170,920
13 2025 2026 $138,117,225 $1,112,757 $6,900,000 $146,129,982 $166,309,550 $1,663,096 $831,548 $831,548 $3,326,191
14 2026 2027 $139,175,625 $1,112,757 $6,037,500 $146,325,882 $168,197,828 $1,681,978 $840,989 $840,989 $3,363,957
15 2027 2028 $144,094,845 $1,112,757 $6,962,500 $152,170,102 $176,664,764 $1,766,648 $883,324 $883,324 $3,533,295
16 2028 2029 $144,094,845 $1,112,757 $0 $145,207,602 $170,267,333 $1,702,673 $851,337 $851,337 $3,405,347
17 2029 2030 $144,094,845 $1,112,757 $0 $145,207,602 $171,970,006 $1,719,700 $859,850 $859,850 $3,439,400
18 2030 2031 $144,094,845 $1,112,757 $0 $145,207,602 $173,689,706 $1,736,897 $868,449 $868,449 $3,473,794
19 2031 2032 $144,094,845 $1,112,757 $0 $145,207,602 $175,426,603 $1,754,266 $877,133 $877,133 $3,508,532
20 2032 2033 $144,094,845 $1,112,757 $0 $145,207,602 $177,180,869 $1,771,809 $885,904 $885,904 $3,543,617
21 2033 2034 $144,094,845 $1,112,757 $0 $145,207,602 $178,952,678 $1,789,527 $894,763 $894,763 $3,579,054
22 2034 2035 $144,094,845 $1,112,757 $0 $145,207,602 $180,742,205 $1,807,422 $903,711 $903,711 $3,614,844
23 2035 2036 $144,094,845 $1,112,757 $0 $145,207,602 $182,549,627 $1,825,496 $912,748 $912,748 $3,650,993
24 2036 2037 $144,094,845 $1,112,757 $0 $145,207,602 $184,375,123 $1,843,751 $921,876 $921,876 $3,687,502
25 2037 2038 $144,094,845 $1,112,757 $0 $145,207,602 $186,218,874 $1,862,189 $931,094 $931,094 $3,724,377
26 2038 2039 $144,094,845 $1,112,757 $0 $145,207,602 $188,081,063 $1,880,811 $940,405 $940,405 $3,761,621
27 2039 2040 $144,094,845 $1,112,757 $0 $145,207,602 $189,961,874 $1,899,619 $949,809 $949,809 $3,799,237
28 2040 2041 $144,094,845 $1,112,757 $0 $145,207,602 $191,861,493 $1,918,615 $959,307 $959,307 $3,837,230
29 2041 2042 $144,094,845 $1,112,757 $0 $145,207,602 $193,780,107 $1,937,801 $968,901 $968,901 $3,875,602
30 2042 2043 $144,094,845 $1,112,757 $0 $145,207,602 $195,717,909 $1,957,179 $978,590 $978,590 $3,914,358
31 2043 2044 $144,094,845 $1,112,757 $0 $145,207,602 $197,675,088 $1,976,751 $988,375 $988,375 $3,953,502
32 2044 2045 $144,094,845 $1,112,757 $0 $145,207,602 $199,651,838 $1,996,518 $998,259 $998,259 $3,993,037
33 2045 2046 $144,094,845 $1,112,757 $0 $145,207,602 $201,648,357 $2,016,484 $1,008,242 $1,008,242 $4,032,967
34 2046 2047 $144,094,845 $1,112,757 $0 $145,207,602 $203,664,840 $2,036,648 $1,018,324 $1,018,324 $4,073,297
35 2047 2048 $144,094,845 $1,112,757 $0 $145,207,602 $205,701,489 $2,057,015 $1,028,507 $1,028,507 $4,114,030
36 2048 2049 $144,094,845 $1,112,757 $0 $145,207,602 $207,758,504 $2,077,585 $1,038,793 $1,038,793 $4,155,170
37 2049 2050 $144,094,845 $1,112,757 $0 $145,207,602 $209,836,089 $2,098,361 $1,049,180 $1,049,180 $4,196,722
38 2050 2051 $144,094,845 $1,112,757 $0 $145,207,602 $211,934,450 $2,119,344 $1,059,672 $1,059,672 $4,238,689
39 2051 2052 $144,094,845 $1,112,757 $0 $145,207,602 $214,053,794 $2,140,538 $1,070,269 $1,070,269 $4,281,076
40 2052 2053 $144,094,845 $1,112,757 $0 $145,207,602 $216,194,332 $2,161,943 $1,080,972 $1,080,972 $4,323,887
Total for Years 1-40 $4,602,779,730 $33,382,703 $94,812,500 $4,730,974,933 $6,041,482,686 $60,414,827 $30,207,413 $30,207,413 $120,829,654
Annual Taxable Sales Volume Forecast
Total Local Sales Tax,
Based on Sales Volume as Inflated
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 23
Schedule 10:
Town of Prosper General Sales Tax for the TIRZ Fund
Notes:Sales volume and sales tax depend on actual development volume, timing of development,
tenants, and other factors. They may be more or less than this forecast.
The Town of Prosper commits to pay the specified percentages of sales tax, subject to
specific conditions A commitment of 33 years is modeled in this schedule.
(a) (b)(c)(d)(e)(f)
Tax Total
Receipts Town General
Flow to Sales Tax @
TIRZ Through TIRZ Fund 1.00%
Year Dec. 31, by May 1, from Schedule 9)%Amount
Base 2012 2013 $0 0%$0
1 2013 2014 $0 25%$0
2 2014 2015 $0 25%$0
3 2015 2016 $20,091 25%$5,023
4 2016 2017 $184,784 25%$46,196
5 2017 2018 $314,951 25%$78,738
6 2018 2019 $374,518 25%$93,630
7 2019 2020 $438,175 25% $109,544
8 2020 2021 $580,145 25% $145,036
9 2021 2022 $1,040,407 25% $260,102
10 2022 2023 $1,233,515 25% $308,379
11 2023 2024 $1,442,116 25% $360,529
12 2024 2025 $1,585,460 25% $396,365
13 2025 2026 $1,663,096 25% $415,774
14 2026 2027 $1,681,978 25% $420,495
15 2027 2028 $1,766,648 25% $441,662
16 2028 2029 $1,702,673 25% $425,668
17 2029 2030 $1,719,700 25% $429,925
18 2030 2031 $1,736,897 25% $434,224
19 2031 2032 $1,754,266 25% $438,567
20 2032 2033 $1,771,809 25% $442,952
21 2033 2034 $1,789,527 25% $447,382
22 2034 2035 $1,807,422 25% $451,856
23 2035 2036 $1,825,496 25% $456,374
24 2036 2037 $1,843,751 25% $460,938
25 2037 2038 $1,862,189 25% $465,547
26 2038 2039 $1,880,811 0%$0
27 2039 2040 $1,899,619 0%$0
28 2040 2041 $1,918,615 0%$0
29 2041 2042 $1,937,801 0%$0
30 2042 2043 $1,957,179 0%$0
31 2043 2044 $1,976,751 0%$0
32 2044 2045 $1,996,518 0%$0
33 2045 2046 $2,016,484 0%$0
34 2046 2047 $2,036,648 0%$0
35 2047 2048 $2,057,015 0%$0
36 2048 2049 $2,077,585 0%$0
37 2049 2050 $2,098,361 0%$0
38 2050 2051 $2,119,344 0%$0
39 2051 2052 $2,140,538 0%$0
40 2052 2053 $2,161,943 0%$0
Total for Years 1-40 $60,414,827 $7,534,904
to the TIRZ Fund
of General Sales Tax
Town Commitment
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 24
Schedule 11:
Forecast of Prosper EDC 4A Sales Tax Grants for Prosper West Infrastructure
Notes and assumptions:
The Prosper Economic Development Corporation ("PEDC") agrees to pay $500,000 to Athlos Prosper Fund I, LP ("Company") in early 2013.
The PEDC agrees to pay an additional $2,500,000 to Company, provided Company expends a total of $3,000,000 for infrastructure and meets
other standards of performance.
After the initial payment in 2013, the PEDC is not required to pay Company from sources other than 50% of 4A sales tax receipts attributed to the TIRZ
unless the PEDC obligation has not been retired after fifteen years.
The PEDC will pay simple interest on the balance owed to Company at these annual rates:
Through year 5 1.5%
Year 6 forward Prime plus 2%, not to exceed 4.5%
After year 15, the PEDC will pay 50% of annual 4A sales tax receipts from the TIRZ as further grants for economic development of the TIRZ.
(a) (b) (c)(d)(e)(f)(g)(h)(i)
Assume Total Estimated Estimated Interest Accrued Balance of After Year 15,
Tax Receipts 4A Sales Tax @ PEDC Payment Principal Owed on Previous Year 4A Sales Tax PEDC Grants
Flow to 0.50%to Company to Company by PEDC Principal Not Applied 50%
TIRZ Through Recipients from TIRZ by April 1 per Initial on April 1 of Balance Owed to Initial Incentive of 4A Sales Tax
Year Dec. 31, by April 1, (from Schedule 9) Incentive Agreement Column (c) Year to Company @ Agreement for TIRZ Improvements
Base 2012 2013 $0 $500,000 $0 $0 $0 $0
1 2013 2014 $0 $0 $0 $0 $0 $0
2 2014 2015 $0 $0 $2,500,000 $0 $0 $0
3 2015 2016 $10,045 $5,023 $2,532,477 $37,500 $5,023 $0
4 2016 2017 $92,392 $46,196 $2,524,269 $37,987 $46,196 $0
5 2017 2018 $157,476 $78,738 $2,483,395 $37,864 $78,738 $0
6 2018 2019 $187,259 $93,630 $2,501,518 $111,753 $93,630 $0
7 2019 2020 $219,088 $109,544 $2,504,542 $112,568 $109,544 $0
8 2020 2021 $290,073 $145,036 $2,472,211 $112,704 $145,036 $0
9 2021 2022 $520,204 $260,102 $2,323,358 $111,249 $260,102 $0
10 2022 2023 $616,757 $308,379 $2,119,531 $104,551 $308,379 $0
11 2023 2024 $721,058 $360,529 $1,854,380 $95,379 $360,529 $0
12 2024 2025 $792,730 $396,365 $1,541,463 $83,447 $396,365 $0
13 2025 2026 $831,548 $415,774 $1,195,054 $69,366 $415,774 $0
14 2026 2027 $840,989 $420,495 $828,337 $53,777 $420,495 $0
15 2027 2028 $883,324 $441,662 $423,951 $37,275 $441,662 $0
16 2028 2029 $851,337 $425,668 $17,360 $19,078 $425,668 $0
17 2029 2030 $859,850 $18,141 $0 $781 $841,709 $429,925
18 2030 2031 $868,449 $0 $0 $0 $868,449 $434,224
19 2031 2032 $877,133 $0 $0 $0 $877,133 $438,567
20 2032 2033 $885,904 $0 $0 $0 $885,904 $442,952
21 2033 2034 $894,763 $0 $0 $0 $894,763 $447,382
22 2034 2035 $903,711 $0 $0 $0 $903,711 $451,856
23 2035 2036 $912,748 $0 $0 $0 $912,748 $456,374
24 2036 2037 $921,876 $0 $0 $0 $921,876 $460,938
25 2037 2038 $931,094 $0 $0 $0 $931,094 $465,547
26 2038 2039 $940,405 $0 $0 $0 $940,405 $0
27 2039 2040 $949,809 $0 $0 $0 $949,809 $0
28 2040 2041 $959,307 $0 $0 $0 $959,307 $0
29 2041 2042 $968,901 $0 $0 $0 $968,901 $0
30 2042 2043 $978,590 $0 $0 $0 $978,590 $0
31 2043 2044 $988,375 $0 $0 $0 $988,375 $0
32 2044 2045 $998,259 $0 $0 $0 $998,259 $0
33 2045 2046 $1,008,242 $0 $0 $0 $1,008,242 $0
34 2046 2047 $1,018,324 $0 $0 $0 $1,018,324 $0
35 2047 2048 $1,028,507 $0 $0 $0 $1,028,507 $0
36 2048 2049 $1,038,793 $0 $0 $0 $1,038,793 $0
37 2049 2050 $1,049,180 $0 $0 $0 $1,049,180 $0
38 2050 2051 $1,059,672 $0 $0 $0 $1,059,672 $0
39 2051 2052 $1,070,269 $0 $0 $0 $1,070,269 $0
40 2052 2053 $1,080,972 $0 $0 $0 $1,080,972 $0
Total for Years 1-40 $30,207,413 $3,525,281 $1,025,281 $26,682,133 $4,027,764
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 25
Schedule 12:
Prospective Cash Flow for Prosper West Infrastructure from All Local Public Sources
Notes:Town of Prosper "rollback" tax from converting agricultural land in the TIRZ to non-agricultural use flows to the TIRZ fund. If paid in 2015, estimated rollback tax value
is $500,000. This amount is added in this schedule to 2016 TIRZ fund receipts from Town real property tax.
Actual cash flow depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast.
Prosper and the PEDC will execute development agreements stipulating obligations of the parties before disbursement of cash from these sources.
Uses for these various taxes and grants are limited to items specified by Texas law and may be further limited by Town or County agreements.
Development fees and impact fees paid in the TIRZ may fund a grant for economic development by the Town. These reimbursements are not shown in this schedule.
(a) (b) (c)(d)(e)(f)(g)(h)(i)(j)(k)
PEDC PEDC
Tax Town Collin County Town Grants of 4A Grants of 4A 2013 Present Value
For Receipts Real Property Real Property General Sales Tax Sales Tax Prospective of Cumulative
Appraisals Flow to Tax Tax Sales Tax per Initial per Second Total for Grand Total,
on Jan. 1, the TIRZ or Increments Increments Increments Incentive Incentive Prosper West If Annually
TIRZ or Sales in Recipient (From (From (From Total to Agreement Agreement During Discounted @
Year Calendar by May 1, Schedule 4) Schedule 5) Schedule 10)TIRZ Fund (from Schedule 11) (from Schedule 11)TIRZ Term 3.50%
Base 2012 2013 $0 $0 $0 $0 $500,000 $0 $500,000 $500,000
1 2013 2014 $0 $0 $0 $0 $0 $0 $0 $500,000
2 2014 2015 $1 $0 $0 $1 $0 $0 $1 $500,001
3 2015 2016 $567,645 $22,300 $5,023 $594,968 $5,023 $0 $599,991 $1,041,159
4 2016 2017 $98,452 $32,457 $46,196 $177,105 $46,196 $0 $223,301 $1,235,752
5 2017 2018 $173,511 $57,201 $78,738 $309,450 $78,738 $0 $388,188 $1,562,596
6 2018 2019 $273,106 $90,035 $93,630 $456,771 $93,630 $0 $550,400 $2,010,347
7 2019 2020 $380,983 $125,599 $109,544 $616,126 $109,544 $0 $725,670 $2,580,717
8 2020 2021 $429,951 $141,742 $145,036 $716,730 $145,036 $0 $861,766 $3,235,152
9 2021 2022 $549,509 $181,157 $260,102 $990,768 $260,102 $0 $1,250,870 $4,152,954
10 2022 2023 $814,926 $268,657 $308,379 $1,391,962 $308,379 $0 $1,700,341 $5,358,358
11 2023 2024 $1,018,754 $335,853 $360,529 $1,715,137 $360,529 $0 $2,075,666 $6,780,076
12 2024 2025 $1,270,286 $418,776 $396,365 $2,085,426 $396,365 $0 $2,481,791 $8,422,484
13 2025 2026 $1,412,480 $465,653 $415,774 $2,293,906 $415,774 $0 $2,709,680 $10,155,065
14 2026 2027 $1,556,566 $513,154 $420,495 $2,490,215 $420,495 $0 $2,910,709 $11,953,248
15 2027 2028 $1,688,123 $556,524 $441,662 $2,686,309 $441,662 $0 $3,127,971 $13,820,305
16 2028 2029 $1,705,006 $562,090 $425,668 $2,692,764 $425,668 $0 $3,118,432 $15,618,723
17 2029 2030 $1,722,057 $567,711 $429,925 $2,719,693 $18,141 $411,784 $3,149,618 $17,373,702
18 2030 2031 $1,739,278 $573,388 $434,224 $2,746,891 $0 $434,224 $3,181,115 $19,086,291
19 2031 2032 $1,756,672 $579,123 $438,567 $2,774,361 $0 $438,567 $3,212,928 $20,757,513
20 2032 2033 $1,774,240 $584,914 $442,952 $2,802,106 $0 $442,952 $3,245,059 $22,388,369
21 2033 2034 $1,791,983 $590,764 $447,382 $2,830,129 $0 $447,382 $3,277,511 $23,979,833
22 2034 2035 $1,809,904 $596,672 $451,856 $2,858,432 $0 $451,856 $3,310,287 $25,532,856
23 2035 2036 $1,828,004 $602,639 $456,374 $2,887,017 $0 $456,374 $3,343,391 $27,048,367
24 2036 2037 $1,846,286 $608,666 $460,938 $2,915,889 $0 $460,938 $3,376,827 $28,527,273
25 2037 2038 $1,864,750 $614,753 $465,547 $2,945,049 $0 $465,547 $3,410,596 $29,970,456
26 2038 2039 $0 $0 $0 $0 $0 $0 $0 $29,970,456
27 2039 2040 $0 $0 $0 $0 $0 $0 $0 $29,970,456
28 2040 2041 $0 $0 $0 $0 $0 $0 $0 $29,970,456
29 2041 2042 $0 $0 $0 $0 $0 $0 $0 $29,970,456
30 2042 2043 $0 $0 $0 $0 $0 $0 $0 $29,970,456
31 2043 2044 $0 $0 $0 $0 $0 $0 $0 $29,970,456
32 2044 2045 $0 $0 $0 $0 $0 $0 $0 $29,970,456
33 2045 2046 $0 $0 $0 $0 $0 $0 $0 $29,970,456
Total for Base through Duration $28,072,475 $9,089,827 $7,534,904 $44,697,206 $4,025,281 $4,009,623 $52,732,109
% to TIRZ, according to source 63%20% 17% 100%
% of total prospective public funds invested,
according to source 53%17% 14% 85%8%8%100%
Tax to the TIRZ Fund
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 26
Schedule 13:
Tax from Prosper West Retained for Prosper General Fund and Prosper EDC
Notes:Town of Prosper rollback taxes due to switching from agricultural production value to market value flow to the TIRZ fund.
Actual cash flow depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast.
(a) (b)(c)(d)(e)(f)(g)(h)(i)
For Appraisals Tax Receipts Total Tax Tax from TIRZ
on Jan. 1,Flow to TIRZ Fund Business Property Tax Retained Retained
TIRZ or Sales in or Recipient Real Personal General Relief For Town for Prosper
Year Calendar by May 1, Property Tax Property Tax Sales Tax Sales Tax General Fund EDC
Base 2012 2013 $153 $0 $0 $0 $153 $0
1 2013 2014 $153 $0 $0 $0 $153 $0
2 2014 2015 $153 $0 $0 $0 $153 $0
3 2015 2016 $29,144 $0 $15,068 $10,045 $54,257 $5,023
4 2016 2017 $42,347 $6,622 $138,588 $92,392 $279,948 $46,196
5 2017 2018 $74,515 $24,475 $236,213 $157,476 $492,678 $78,738
6 2018 2019 $117,198 $32,183 $280,889 $187,259 $617,529 $93,630
7 2019 2020 $163,432 $42,343 $328,632 $219,088 $753,494 $109,544
8 2020 2021 $184,418 $49,934 $435,109 $290,073 $959,534 $145,036
9 2021 2022 $235,657 $63,076 $780,305 $520,204 $1,599,242 $260,102
10 2022 2023 $349,407 $119,885 $925,136 $616,757 $2,011,186 $308,379
11 2023 2024 $436,762 $136,297 $1,081,587 $721,058 $2,375,705 $360,529
12 2024 2025 $544,561 $179,460 $1,189,095 $792,730 $2,705,846 $396,365
13 2025 2026 $605,501 $210,338 $1,247,322 $831,548 $2,894,709 $415,774
14 2026 2027 $667,253 $220,513 $1,261,484 $840,989 $2,990,239 $420,495
15 2027 2028 $723,634 $231,981 $1,324,986 $883,324 $3,163,925 $441,662
16 2028 2029 $730,870 $234,301 $1,277,005 $851,337 $3,093,512 $425,668
17 2029 2030 $738,177 $236,644 $1,289,775 $859,850 $3,124,447 $411,784
18 2030 2031 $745,558 $239,011 $1,302,673 $868,449 $3,155,690 $434,224
19 2031 2032 $753,012 $241,401 $1,315,700 $877,133 $3,187,246 $438,567
20 2032 2033 $760,542 $243,815 $1,328,857 $885,904 $3,219,117 $442,952
21 2033 2034 $768,146 $246,253 $1,342,145 $894,763 $3,251,307 $447,382
22 2034 2035 $775,826 $248,715 $1,355,567 $903,711 $3,283,819 $451,856
23 2035 2036 $783,583 $251,203 $1,369,122 $912,748 $3,316,656 $456,374
24 2036 2037 $791,418 $253,715 $1,382,813 $921,876 $3,349,822 $460,938
25 2037 2038 $799,331 $256,252 $1,396,642 $931,094 $3,383,319 $465,547
26 2038 2039 $2,690,722 $258,814 $1,880,811 $940,405 $5,770,752 $940,405
27 2039 2040 $2,717,629 $261,402 $1,899,619 $949,809 $5,828,459 $949,809
28 2040 2041 $2,744,805 $264,016 $1,918,615 $959,307 $5,886,744 $959,307
29 2041 2042 $2,772,253 $266,657 $1,937,801 $968,901 $5,945,611 $968,901
30 2042 2043 $2,799,976 $269,323 $1,957,179 $978,590 $6,005,068 $978,590
31 2043 2044 $2,827,975 $272,016 $1,976,751 $988,375 $6,065,118 $988,375
32 2044 2045 $2,856,255 $274,737 $1,996,518 $998,259 $6,125,769 $998,259
33 2045 2046 $2,884,818 $277,484 $2,016,484 $1,008,242 $6,187,027 $1,008,242
34 2046 2047 $2,913,666 $280,259 $2,036,648 $1,018,324 $6,248,897 $1,018,324
35 2047 2048 $2,942,803 $283,061 $2,057,015 $1,028,507 $6,311,386 $1,028,507
36 2048 2049 $2,972,231 $285,892 $2,077,585 $1,038,793 $6,374,500 $1,038,793
37 2049 2050 $3,001,953 $288,751 $2,098,361 $1,049,180 $6,438,245 $1,049,180
38 2050 2051 $3,031,972 $291,638 $2,119,344 $1,059,672 $6,502,628 $1,059,672
39 2051 2052 $3,062,292 $294,555 $2,140,538 $1,070,269 $6,567,654 $1,070,269
40 2052 2053 $3,092,915 $297,500 $2,161,943 $1,080,972 $6,633,330 $1,080,972
Total for years 1-40 $55,132,864 $7,934,523 $52,879,923 $30,207,413 $146,154,724 $22,654,368
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 27
Schedule 14:
Tax from Prosper West Retained for Collin County
Notes:This schedule omits the value of rollback real property taxes from the TIRZ that Collin County may retain.
Actual cash flow depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast.
(a)(b)(c)(d)(e)(f)
For Appraisals on
TIRZ Jan. 1,Tax Receipts Flow Real Business Personal
Year or Sales in Calendar to TIRZ Fund by May 1,Property Tax Property Tax Total Tax
Base 2012 2013 $71 $0 $71
1 2013 2014 $71 $0 $71
2 2014 2015 $71 $0 $71
3 2015 2016 $22,371 $0 $22,371
4 2016 2017 $32,527 $3,056 $35,584
5 2017 2018 $57,272 $11,296 $68,568
6 2018 2019 $90,106 $14,854 $104,959
7 2019 2020 $125,670 $19,543 $145,212
8 2020 2021 $141,813 $23,047 $164,859
9 2021 2022 $181,228 $29,112 $210,339
10 2022 2023 $268,728 $55,332 $324,059
11 2023 2024 $335,924 $62,906 $398,830
12 2024 2025 $418,846 $82,828 $501,674
13 2025 2026 $465,723 $97,079 $562,802
14 2026 2027 $513,224 $101,775 $615,000
15 2027 2028 $556,595 $107,068 $663,663
16 2028 2029 $562,160 $108,139 $670,299
17 2029 2030 $567,782 $109,220 $677,002
18 2030 2031 $573,459 $110,313 $683,772
19 2031 2032 $579,193 $111,416 $690,609
20 2032 2033 $584,985 $112,530 $697,515
21 2033 2034 $590,834 $113,655 $704,490
22 2034 2035 $596,742 $114,792 $711,534
23 2035 2036 $602,709 $115,940 $718,649
24 2036 2037 $608,736 $117,099 $725,835
25 2037 2038 $614,823 $118,270 $733,093
26 2038 2039 $1,241,872 $119,453 $1,361,324
27 2039 2040 $1,254,290 $120,647 $1,374,938
28 2040 2041 $1,266,833 $121,854 $1,388,687
29 2041 2042 $1,279,501 $123,072 $1,402,574
30 2042 2043 $1,292,296 $124,303 $1,416,599
31 2043 2044 $1,305,219 $125,546 $1,430,765
32 2044 2045 $1,318,272 $126,801 $1,445,073
33 2045 2046 $1,331,454 $128,070 $1,459,524
34 2046 2047 $1,344,769 $129,350 $1,474,119
35 2047 2048 $1,358,217 $130,644 $1,488,860
36 2048 2049 $1,371,799 $131,950 $1,503,749
37 2049 2050 $1,385,517 $133,270 $1,518,786
38 2050 2051 $1,399,372 $134,602 $1,533,974
39 2051 2052 $1,413,366 $135,948 $1,549,314
40 2052 2053 $1,427,499 $137,308 $1,564,807
Total for years 1-40 $29,081,868 $3,662,088 $32,743,956
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 28
Schedule 15:
Forecast of Prosper ISD Taxes from the TIRZ
Notes:Base value of the TIRZ assumes the 2012 taxable value.
Annual forecasts of taxable values added to the roll in 2012 dollars are calculated in a separate schedule. Values are adjusted for inflation in this schedule.
The increase in appraised value as of January 1, 2015 assumes all properties are appraised as non-agricultural land for that year.
Annual forecasts of taxable value of land and improvements associated with developed property (in 2012 dollars plus assumed inflation) are added to the tax roll on Jan. 1 following assumed completions.
The 2012 tax rate is assumed constant. Actual rates will be set annually.
No tax abatements or tax exemptions have been assumed.
(a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n)
Appraisal Before Forecast CCAD Appraisal Total Taxable Appraisal Without Forecast CCAD Appraisal
Improvements of Improved Properties Real Property in Structures Due to Personal Property Cumulative
Added This Year;Added to Roll This Year,Property Prosper ISD Completed This Year;Added This Year,BPP Prosper ISD Total Prosper ISD
Property If Post-completion If Inflated Appraisal Real Property Post-completion If Inflated Appraisal BPP Appraisal Total Property
Appraised Tax Deposited Appraisals Rise 2.00%Total Tax @ Appraisals Rise 2.00%Total Tax @ Forecast Prosper ISD Tax
TIRZ Value for to TIRZ Fund 1.00%Annually from 1/1/13 for Jan. 1 $1.67 1.00%Annually from 1/1/13 for Jan. 1 $1.67 for Jan. 1 Property After
Year Jan. 1, by May 1, Annually After 1/1/13 Through Year Added of This Year per $100 Annually After 1/1/13 Through This Year of This Year per $100 of This Year Tax Base Year
Base 2012 2013 $0 $29,413 $491 $0 $0 $0 $0 $29,413 $491
1 2013 2014 $29,413 $0 $29,413 $491 $0 $0 $0 $0 $29,413 $491 $491
2 2014 2015 $29,707 $0 $29,707 $496 $0 $0 $0 $0 $29,707 $496 $987
3 2015 2016 $30,004 $18,583,155 $18,613,160 $310,840 $0 $0 $0 $0 $18,613,160 $310,840 $311,827
4 2016 2017 $18,799,291 $8,277,422 $27,076,714 $452,181 $0 $1,273,450 $1,273,450 $21,267 $28,350,163 $473,448 $785,275
5 2017 2018 $27,347,481 $20,349,725 $47,697,205 $796,543 $1,286,184 $3,420,486 $4,706,670 $78,601 $52,403,875 $875,145 $1,660,420
6 2018 2019 $48,174,177 $26,884,368 $75,058,545 $1,253,478 $4,753,736 $1,435,305 $6,189,041 $103,357 $81,247,587 $1,356,835 $3,017,254
7 2019 2020 $75,809,130 $28,886,066 $104,695,197 $1,748,410 $6,250,932 $1,891,953 $8,142,885 $135,986 $112,838,081 $1,884,396 $4,901,650
8 2020 2021 $105,742,149 $12,405,805 $118,147,954 $1,973,071 $8,224,314 $1,378,423 $9,602,736 $160,366 $127,750,690 $2,133,437 $7,035,087
9 2021 2022 $119,329,433 $31,664,095 $150,993,528 $2,521,592 $9,698,764 $2,431,193 $12,129,957 $202,570 $163,123,485 $2,724,162 $9,759,249
10 2022 2023 $152,503,463 $71,406,781 $223,910,244 $3,739,301 $12,251,257 $10,803,637 $23,054,893 $385,017 $246,965,138 $4,124,318 $13,883,567
11 2023 2024 $226,149,347 $53,757,654 $279,907,001 $4,674,447 $23,285,442 $2,925,587 $26,211,029 $437,724 $306,118,030 $5,112,171 $18,995,738
12 2024 2025 $282,706,071 $66,302,935 $349,009,006 $5,828,450 $26,473,139 $8,038,415 $34,511,554 $576,343 $383,520,560 $6,404,793 $25,400,531
13 2025 2026 $352,499,096 $35,574,182 $388,073,278 $6,480,824 $34,856,670 $5,592,946 $40,449,616 $675,509 $428,522,894 $7,156,332 $32,556,863
14 2026 2027 $391,954,011 $35,703,543 $427,657,554 $7,141,881 $40,854,112 $1,552,328 $42,406,440 $708,188 $470,063,994 $7,850,069 $40,406,932
15 2027 2028 $431,934,129 $31,865,412 $463,799,542 $7,745,452 $42,830,504 $1,781,296 $44,611,801 $745,017 $508,411,342 $8,490,469 $48,897,402
16 2028 2029 $468,437,537 $0 $468,437,537 $7,822,907 $45,057,919 $0 $45,057,919 $752,467 $513,495,456 $8,575,374 $57,472,776
17 2029 2030 $473,121,912 $0 $473,121,912 $7,901,136 $45,508,498 $0 $45,508,498 $759,992 $518,630,410 $8,661,128 $66,133,904
18 2030 2031 $477,853,131 $0 $477,853,131 $7,980,147 $45,963,583 $0 $45,963,583 $767,592 $523,816,714 $8,747,739 $74,881,643
19 2031 2032 $482,631,663 $0 $482,631,663 $8,059,949 $46,423,219 $0 $46,423,219 $775,268 $529,054,882 $8,835,217 $83,716,859
20 2032 2033 $487,457,979 $0 $487,457,979 $8,140,548 $46,887,451 $0 $46,887,451 $783,020 $534,345,430 $8,923,569 $92,640,428
21 2033 2034 $492,332,559 $0 $492,332,559 $8,221,954 $47,356,325 $0 $47,356,325 $790,851 $539,688,885 $9,012,804 $101,653,232
22 2034 2035 $497,255,885 $0 $497,255,885 $8,304,173 $47,829,889 $0 $47,829,889 $798,759 $545,085,773 $9,102,932 $110,756,165
23 2035 2036 $502,228,444 $0 $502,228,444 $8,387,215 $48,308,188 $0 $48,308,188 $806,747 $550,536,631 $9,193,962 $119,950,126
24 2036 2037 $507,250,728 $0 $507,250,728 $8,471,087 $48,791,270 $0 $48,791,270 $814,814 $556,041,998 $9,285,901 $129,236,028
25 2037 2038 $512,323,235 $0 $512,323,235 $8,555,798 $49,279,182 $0 $49,279,182 $822,962 $561,602,418 $9,378,760 $138,614,788
26 2038 2039 $517,446,468 $0 $517,446,468 $8,641,356 $49,771,974 $0 $49,771,974 $831,192 $567,218,442 $9,472,548 $148,087,336
27 2039 2040 $522,620,932 $0 $522,620,932 $8,727,770 $50,269,694 $0 $50,269,694 $839,504 $572,890,626 $9,567,273 $157,654,610
28 2040 2041 $527,847,142 $0 $527,847,142 $8,815,047 $50,772,391 $0 $50,772,391 $847,899 $578,619,532 $9,662,946 $167,317,556
29 2041 2042 $533,125,613 $0 $533,125,613 $8,903,198 $51,280,115 $0 $51,280,115 $856,378 $584,405,728 $9,759,576 $177,077,131
30 2042 2043 $538,456,869 $0 $538,456,869 $8,992,230 $51,792,916 $0 $51,792,916 $864,942 $590,249,785 $9,857,171 $186,934,303
31 2043 2044 $543,841,438 $0 $543,841,438 $9,082,152 $52,310,845 $0 $52,310,845 $873,591 $596,152,283 $9,955,743 $196,890,046
32 2044 2045 $549,279,852 $0 $549,279,852 $9,172,974 $52,833,953 $0 $52,833,953 $882,327 $602,113,806 $10,055,301 $206,945,347
33 2045 2046 $554,772,651 $0 $554,772,651 $9,264,703 $53,362,293 $0 $53,362,293 $891,150 $608,134,944 $10,155,854 $217,101,200
34 2046 2047 $560,320,377 $0 $560,320,377 $9,357,350 $53,895,916 $0 $53,895,916 $900,062 $614,216,293 $10,257,412 $227,358,612
35 2047 2048 $565,923,581 $0 $565,923,581 $9,450,924 $54,434,875 $0 $54,434,875 $909,062 $620,358,456 $10,359,986 $237,718,598
36 2048 2049 $571,582,817 $0 $571,582,817 $9,545,433 $54,979,224 $0 $54,979,224 $918,153 $626,562,041 $10,463,586 $248,182,184
37 2049 2050 $577,298,645 $0 $577,298,645 $9,640,887 $55,529,016 $0 $55,529,016 $927,335 $632,827,661 $10,568,222 $258,750,406
38 2050 2051 $583,071,632 $0 $583,071,632 $9,737,296 $56,084,306 $0 $56,084,306 $936,608 $639,155,938 $10,673,904 $269,424,311
39 2051 2052 $588,902,348 $0 $588,902,348 $9,834,669 $56,645,149 $0 $56,645,149 $945,974 $645,547,497 $10,780,643 $280,204,954
40 2052 2053 $594,791,371 $0 $594,791,371 $9,933,016 $57,211,601 $0 $57,211,601 $955,434 $652,002,972 $10,888,450 $291,093,403
Total for years 1-40 $441,661,143 $265,611,377 $42,525,018 $25,482,027 $291,093,403
Business Personal Property Total PropertyReal Property
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 29
Appendix A:
Road Improvement Details
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.2 $1,680.00
2 Excavation ( 3' in depth width of ROW )CY $2.75 7,467 $20,534
3 Drainage LF $300.00 420 $126,000
4 10"-3600 PSI concrete street pavement (37' BB)SY $65.00 3,453 $224,445
5 8" HMAC base material SY $40.00 3,453 $138,120
6 12"(66lbs./sy) lime stabilized subgrade SY $5.50 3,640 $20,020
7 Hydrated lime material TN $175.00 120 $21,000
8 Barrier free ramps EA $1,250.00 8 $10,000
9 Street signs EA $650.00 4 $2,600
10 6' wide concrete sidewalk SF $4.00 5,040 $20,160
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
12 Testing SY $0.90 3,640 $3,276
13 Payment, performance & maintenance bonds LS 3.00%1 $17,635
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$605,470
Units Cost Quantity Total
Length of Street (LF)
1 Erosion control measures STA $400.00 27.0 $10,800.00
2 Excavation ( 3' in depth width of ROW )CY $2.75 27,000 $74,250
3 Drainage LF $100.00 2,700 $270,000
4 10"-3600 PSI concrete street pavement (37' BB)SY $65.00 11,831 $769,015
5 8" HMAC base material SY $40.00 11,831 $473,240
6 12"(66lbs./sy) lime stabilized subgrade SY $5.50 3,640 $20,020
7 Hydrated lime material TN $175.00 412 $72,100
8 Barrier free ramps EA $1,250.00 2 $2,500
9 Street signs EA $650.00 3 $1,950
10 6' wide concrete sidewalk SF $4.00 32,400 $129,600
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
12 Testing SY $0.90 3,640 $3,276
13 Payment, performance & maintenance bonds LS 3.00%1 $54,803
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$1,881,554
Units Cost Quantity Total
Length of Street (LF)
1 Erosion control measures STA $400.00 21.6 $8,620.00
2 Excavation ( 3' in depth width of ROW )CY $2.75 21,550 $59,263
3 Drainage LF $100.00 2,155 $215,500
4 10"-3600 PSI concrete street pavement (37' B-B)SY $65.00 10,990 $714,350
5 8" HMAC base material SY $40.00 10,990 $439,600
6 12"(66lbs./sy) lime stabilized subgrade SY $5.50 3,640 $20,020
7 Hydrated lime material TN $175.00 382 $66,850
8 Barrier free ramps EA $1,250.00 4 $5,000
9 Street signs EA $650.00 3 $1,950
10 6' wide concrete sidewalk SF $4.00 25,860 $103,440
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
12 Testing SY $0.90 3,640 $3,276
13 Payment, performance & maintenance bonds LS 3.00%1 $49,136
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$1,687,005
Capital Imps. Program
N2 WESTSIDE TOLLWAY SERVICE DRIVE (NORTH)Capital Imps. Program
420
TOTAL COST OF N1 WESTSIDE TOLLWAY SERVICE DR.
K2 MIDDLE TOLLWAY CROSSING (160' RIGHT OF WAY)
N1 WESTSIDE TOLLWAY SERVICE DRIVE (SOUTH)
2,700
TOTAL COST OF K2 MIDDLE TOLLWAY CROSSING
Capital Imps. Program
2,155
TOTAL COST OF N2 WESTSIDE TOLLWAY SERVICE DR.
ENGINEER'S OPINION OF PROBABLE COST, PREPARED BY JBI PARTNERS, INC. ON NOV. 14, 2012
NORTHWEST CORNER OF US380 AND DNT, PROSPER, TEXAS JBI PROJECT NO. ATH003
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 30
Appendix A:
Road Improvement Details
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 11.1 $4,440.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 7,400 $20,350
3 Drainage LF $200.00 1,110 $222,000
4 8"-3600 PSI concrete street pavement SY $48.00 7,627 $366,096
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 8,237 $22,652
6 Hydrated lime material TN $175.00 136 $23,800
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 13,320 $53,280
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 8,237 $7,413
12 Payment, performance & maintenance bonds LS 3.00%1 $21,640
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$742,971
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.5 $1,800.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,000 $8,250
3 Drainage LF $300.00 450 $135,000
4 8"-3600 PSI concrete street pavement SY $48.00 3,495 $167,760
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,775 $10,381
6 Hydrated lime material TN $175.00 62 $10,850
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 1 $650
9 6' wide concrete sidewalk SF $4.00 5,400 $21,600
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 3,775 $3,398
12 Payment, performance & maintenance bonds LS 3.00%1 $10,791
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$370,479
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 9.0 $3,600.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 6,000 $16,500
3 Drainage LF $100.00 900 $90,000
4 8"-3600 PSI concrete street pavement SY $48.00 6,663 $319,824
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 7,196 $19,789
6 Hydrated lime material TN $175.00 119 $20,825
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 1 $650
9 6' wide concrete sidewalk SF $4.00 10,800 $43,200
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 7,196 $6,476
12 Payment, performance & maintenance bonds LS 3.00%1 $15,626
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$536,490
Capital Imps. Program
2 - 25' B-B with median
450
900
SUBTOTAL
SUBTOTAL
K5 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE
2 - 25' B-B with median
K4 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE
2 - 25' B-B with median
1,110
K3 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE Capital Imps. Program
TOTAL COST OF "K3" AT LOVERS LANE
Capital Imps. Program
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 31
Appendix A:
Road Improvement Details
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 19.8 $7,920.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 13,200 $36,300
3 Drainage LF $200.00 1,980 $396,000
4 8"-3600 PSI concrete street pavement SY $48.00 10,972 $526,656
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 11,850 $32,588
6 Hydrated lime material TN $175.00 196 $34,300
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 23,760 $95,040
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 11,850 $10,665
12 Payment, performance & maintenance bonds LS 3.00%1 $34,223
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$1,174,992
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 19.2 $7,680.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 12,800 $35,200
3 Drainage LF $100.00 1,920 $192,000
4 8"-3600 PSI concrete street pavement SY $48.00 11,108 $533,184
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 11,997 $32,992
6 Hydrated lime material TN $175.00 198 $34,650
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 23,040 $92,160
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 11,997 $10,797
12 Payment, performance & maintenance bonds LS 3.00%1 $28,199
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$968,162
$2,618,103
J3
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 8.6 $3,440.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 5,733 $15,767
3 Drainage LF $300.00 860 $258,000
4 8"-3600 PSI concrete street pavement (37' B-B)SY $48.00 5,945 $285,360
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,421 $17,658
6 Hydrated lime material TN $175.00 106 $18,550
7 Barrier free ramps EA $1,250.00 2 $2,500
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 10,320 $41,280
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 6,421 $5,779
12 Payment, performance & maintenance bonds LS 3.00%1 $19,489
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$669,122
TOTAL COST OF K3, K4, K5, & K7
K6 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE
2 - 25' B-B with median
1,980
1,920
SUBTOTAL
SUBTOTAL
K7 NORTH/SOUTH (4 LANES 90' RIGHT OF WAY) LOVERS LANE
2 - 25' B-B with median
Capital Imps. Program
Capital Imps. Program
2 - 25' B-B with median
860
SUBTOTAL
Capital Imps. Program
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 32
Appendix A:
Road Improvement Details
J4
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 8.5 $3,400.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 5,667 $15,583
3 Drainage LF $300.00 850 $255,000
4 8"-3600 PSI concrete street pavement (37' B-B)SY $48.00 5,982 $287,136
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,461 $17,768
6 Hydrated lime material TN $175.00 107 $18,725
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 10,200 $40,800
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 6,461 $5,815
12 Payment, performance & maintenance bonds LS 3.00%1 $19,366
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$664,893
J5
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 11.1 $4,440.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 7,400 $20,350
3 Drainage LF $200.00 1,110 $222,000
4 8"-3600 PSI concrete street pavement (37' B-B)SY $48.00 6,334 $304,032
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,841 $18,813
6 Hydrated lime material TN $175.00 113 $19,775
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 3 $1,950
9 6' wide concrete sidewalk SF $4.00 13,320 $53,280
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 6,841 $6,157
12 Payment, performance & maintenance bonds LS 3.00%1 $19,524
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$670,321
$2,004,336
Street "A5"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.8 $1,520.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,449 $6,735 0 $0.00
3 Drainage LF $100.00 380 $38,000 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 2,060 $98,880 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,225 $6,119 0 $0.00
7 Hydrated lime material TN $175.00 37 $6,475 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,560 $18,240 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,560 $18,240.00
12 Testing SY $0.90 2,225 $2,003 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,339 1 $736
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 26 $31,200
$183,310 $56,476
Public
2-25' B-B
EnhancementPublic
SUBTOTAL
STREET "A"
380 2-25' B-B
SUBTOTAL
Capital Imps. Program
TOTAL COST OF STREET "J"
Segment J5
1,110
2 - 25' B-B with median
850
SUBTOTAL
Capital Imps. Program
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 33
Appendix A:
Road Improvement Details
Street "A4"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 5.9 $2,340.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 5,503 $15,134 0 $0.00
3 Drainage LF $100.00 585 $58,500 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 3,250 $156,000 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 2,611 $104,440 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,330 $17,408 0 $0.00
7 Hydrated lime material TN $175.00 104 $18,200 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 8 $10,000.00
9 Street signs EA $650.00 0 $0 4 $2,600.00
10 6' wide concrete sidewalk SF $4.00 7,020 $28,080 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 7,020 $28,080.00
12 Testing SY $0.90 6,330 $5,697 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $12,174 1 $1,220
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 40 $48,000
$417,973 $89,900
Circle "A2"Units Cost Quantity Total Quantity Total
Circumference Circle/Length of Street (LF)
1 Erosion control measures STA $400.00 4.9 $1,948.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,804 $4,960 0 $0.00
3 Drainage LF $100.00 487 $48,700 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 1,412 $67,776 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,524 $4,191 0 $0.00
7 Hydrated lime material TN $175.00 25 $4,375 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 0 $0.00
9 Street signs EA $650.00 0 $0 0 $0.00
10 6' wide concrete sidewalk SF $4.00 5,334 $21,336 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,334 $21,336.00
12 Testing SY $0.90 1,524 $1,372 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,640 1 $640
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 27 $32,400
$159,298 $54,376
Street "A3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.6 $1,440.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,387 $9,313 0 $0.00
3 Drainage LF $200.00 360 $72,000 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 2,000 $96,000 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,157 $46,280 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,410 $9,378 0 $0.00
7 Hydrated lime material TN $175.00 56 $9,800 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 8 $10,000.00
9 Street signs EA $650.00 0 $0 4 $2,600.00
10 6' wide concrete sidewalk SF $4.00 4,320 $17,280 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,320 $17,280.00
12 Testing SY $0.90 3,410 $3,069 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $7,937 1 $896
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 18 $21,600
$272,497 $52,376
25' B-B
487
2-25' B-B
2-25' B-B
Public
Enhancement
487
SUBTOTAL
585 2-25' B-B
Public
25' B-B
SUBTOTAL
360 2-25' B-B
SUBTOTAL
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 34
Appendix A:
Road Improvement Details
Street "A2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.3 $1,720.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 4,045 $11,124 0 $0.00
3 Drainage LF $200.00 430 $86,000 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 2,389 $114,672 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,358 $54,320 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 4,047 $11,129 0 $0.00
7 Hydrated lime material TN $175.00 67 $11,725 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 5,160 $20,640 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,160 $20,640.00
12 Testing SY $0.90 4,047 $3,642 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $9,449 1 $714
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 28 $33,600
$324,422 $58,104
Circle "A1"Units Cost Quantity Total Quantity Total
Circumference of Circle (LF)
Circumference Circle/Length of Street (LF)
1 Erosion control measures STA $400.00 3.9 $1,572.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,456 $4,003 0 $0.00
3 Drainage LF $100.00 393 $39,300 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 948 $45,504 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,024 $2,816 0 $0.00
7 Hydrated lime material TN $175.00 17 $2,975 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 0 $0.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,206 $16,824 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,206 $16,824.00
12 Testing SY $0.90 1,024 $922 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $3,417 1 $544
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 20 $24,000
$117,333 $42,668
Street "A1" Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 9.6 $3,840.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,911 $10,755 0 $0.00
3 Drainage LF $100.00 960 $96,000 0 $0.00
3 8"-3600 PSI concrete street pavement SY $48.00 1,387 $66,576 0 $0.00
4 6"-3600 PSI conc. parking SY $40.00 1,810 $72,400 0 $0.00
4 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,452 $9,493 0 $0.00
5 Hydrated lime material TN $175.00 57 $9,975 0 $0
5 Barrier free ramps EA $1,250.00 0 $0 8 $10,000.00
6 Street signs EA $650.00 0 $0 4 $2,600.00
6 6' wide concrete sidewalk SF $4.00 11,520 $46,080 0 $0.00
7 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 11,520 $46,080.00
7 Testing SY $0.90 3,452 $3,107 0 $0.00
8 Payment, performance & maintenance bonds LS 3.00%1 $9,547 1 $1,760
8 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 64 $76,800
$327,773 $137,240
$1,802,605 $491,141
Public
Public Enhancement
2-25' B-B
393
25' B-B
2-25' B-B
393
SUBTOTAL
TOTAL COST OF STREET " A"
960
SUBTOTAL
SUBTOTAL
430
25' B-B
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 35
Appendix A:
Road Improvement Details
Street "B-4"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.0 $1,600.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,763 $10,348 0 $0.00
3 Drainage LF $200.00 400 $80,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,111 $46,667 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,173 $46,920 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,467 $6,784 0 $0.00
7 Hydrated lime material TN $175.00 41 $7,175 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,800 $19,200 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,800 $19,200.00
12 Testing SY $0.90 2,467 $2,220 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $6,627 1 $690
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 27 $32,400
$227,542 $56,090
Circle "B1"Units Cost Quantity Total Quantity Total
Circumference of Circle (LF)
Circumference Circle/Length of Street (LF)
1 Erosion control measures STA $400.00 5.2 $2,072.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,919 $5,276 0 $0.00
3 Drainage LF $100.00 518 $51,800 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,372 $57,624 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,482 $4,076 0 $0.00
7 Hydrated lime material TN $175.00 24 $4,200 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 0 $0.00
9 Street signs EA $650.00 0 $0 0 $0.00
10 6' wide concrete sidewalk SF $4.00 5,706 $22,824 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,706 $22,824.00
12 Testing SY $0.90 1,482 $1,334 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,476 1 $685
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 28 $33,600
$153,681 $57,109
Street "B-1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 8.5 $3,400.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 5,604 $15,410 0 $0.00
3 Drainage LF $200.00 850 $170,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 2,361 $99,162 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 2,929 $117,160 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 5,712 $15,708 0 $0.00
7 Hydrated lime material TN $175.00 94 $16,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 10,200 $40,800 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 10,200 $40,800.00
12 Testing SY $0.90 5,712 $5,141 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $14,497 1 $1,413
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 56 $67,200
$497,728 $115,713
STREET "B"Public Enhancement
400 25' B-B 25' B-B
TOTAL COST OF CIRCLE " B1"
850 25' B-B 25' B-B
Public
SUBTOTAL
25' B-B 25' B-B
518 518
TOTAL COST OF STREET " B-4"
CIRCLE "B1"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 36
Appendix A:
Road Improvement Details
Street "B-2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 6.8 $2,720.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 4,483 $12,328 0 $0.00
3 Drainage LF $100.00 680 $68,000 0 $0.00
3 7"-3600 PSI concrete street pavement SY $42.00 1,889 $79,338 0 $0.00
4 6"-3600 PSI conc. parking SY $40.00 2,337 $93,480 0 $0.00
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 4,654 $12,799 0 $0.00
6 Hydrated lime material TN $175.00 75 $13,125 0 $0
7 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
8 Street signs EA $400.00 0 $0 0 $0.00
9 6' wide concrete sidewalk SF $4.00 8,160 $32,640 0 $0.00
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 8,160 $32,640.00
11 Testing SY $0.90 4,654 $4,189 0 $0.00
12 Payment, performance & maintenance bonds LS 3.00%1 $9,559 1 $1,054
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 43 $51,600
$328,177 $87,794
Street "B3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.1 $1,640 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,488 $4,092 0 $0.00
3 Drainage LF $100.00 410 $41,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,139 $47,838 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,230 $3,383 0 $0.00
7 Hydrated lime material TN $175.00 20 $3,500 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 4,920 $19,680 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,920 $19,680.00
12 Testing SY $0.90 1,230 $1,107 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $3,667 1 $760
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 27 $32,400
$125,907 $58,490
$1,333,035 $375,196
Street "C2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 5.2 $2,080.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,428 $9,427 0 $0.00
3 Drainage LF $300.00 520 $156,000 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 1,444 $69,312 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,561 $62,440 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,560 $4,289 0 $0.00
7 Hydrated lime material TN $175.00 48 $8,400 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 6,240 $24,960 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 6,240 $24,960.00
12 Testing SY $0.90 1,560 $1,404 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $10,149 1 $843
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 35 $41,600
$348,461 $70,553
STREET "C2"
TOTAL COST OF STREET " C2"
2 - 25' B-B 2 - 25' B-B
520
TOTAL COST OF STREET " B"
410 25' B-B 25' B-B
SUBTOTAL
SUBTOTAL
STREET "B"
680 25' B-B 25' B-B
Public
Public Enhancement
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 37
Appendix A:
Road Improvement Details
Street "D1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.0 $1,600.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,637 $7,252 0 $0.00
3 Drainage LF $300.00 400 $120,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,111 $46,662 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,082 $43,280 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,368 $6,512 0 $0.00
7 Hydrated lime material TN $175.00 39 $6,825 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,800 $19,200 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,800 $19,200.00
12 Testing SY $0.90 2,368 $2,131 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $7,604 1 $765
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 26 $31,200
$261,066 $57,465
Street "D2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.4 $1,360.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,241 $6,164 0 $0.00
3 Drainage LF $200.00 340 $68,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 944 $39,648 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,225 $49,000 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,343 $6,443 0 $0.00
7 Hydrated lime material TN $175.00 39 $6,825 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,080 $16,320 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,080 $16,320.00
12 Testing SY $0.90 2,343 $2,109 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,876 1 $679
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 24 $28,800
$201,745 $52,099
Street "D3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 2.0 $800.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 726 $1,996 0 $0.00
3 Drainage LF $200.00 200 $40,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 761 $31,962 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 822 $2,261 0 $0.00
7 Hydrated lime material TN $175.00 14 $2,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 2,400 $9,600 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,400 $9,600.00
12 Testing SY $0.90 822 $740 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $2,694 1 $383
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 12 $14,400
$92,503 $27,533
$555,314 $137,096
25' B-B 25' B-B
TOTAL COST OF STREET " D2"
340 25' B-B 25' B-B
STREET "D1"
400
TOTAL COST OF STREET " D1"
STREET "D2"
TOTAL COST OF STREET " D"
200
TOTAL COST OF STREET " D3"
Public Enhancement
25' B-B
Public
25' B-B
STREET "D3"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 38
Appendix A:
Road Improvement Details
Street "E1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.4 $1,760.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,770 $7,619 0 $0.00
3 Drainage LF $100.00 440 $44,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,222 $51,324 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,382 $55,280 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,812 $7,733 0 $0.00
7 Hydrated lime material TN $175.00 46 $8,050 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 6 $7,500.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 5,280 $21,120 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,280 $21,120.00
12 Testing SY $0.90 2,812 $2,531 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,982 1 $898
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 35 $42,000
$205,399 $72,818
Street "E2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.9 $1,560.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,571 $7,071 0 $0.00
3 Drainage LF $100.00 390 $39,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,083 $45,486 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,358 $54,320 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,637 $7,252 0 $0.00
7 Hydrated lime material TN $175.00 44 $7,700 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,680 $18,720 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,680 $18,720.00
12 Testing SY $0.90 2,637 $2,373 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,504 1 $751
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 26 $31,200
$188,986 $56,971
Street "E3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 2.0 $800.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 725 $1,994 0 $0.00
3 Drainage LF $100.00 200 $20,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 761 $31,962 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 822 $2,261 0 $0.00
7 Hydrated lime material TN $175.00 14 $2,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 2,400 $9,600 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,400 $9,600.00
12 Testing SY $0.90 822 $740 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $2,094 1 $383
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 13 $15,600
$71,900 $28,733
$466,285 $158,521
Public
Enhancement
STREET "E1"
200 25' B-B 25' B-B
Public
440 25' B-B 25' B-B
TOTAL COST OF STREET " E"
SUBTOTAL
390 25' B-B 25' B-B
SUBTOTAL
SUBTOTAL
STREET "E3"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 39
Appendix A:
Road Improvement Details
Street "F3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 1.9 $760.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 690 $1,896 0 $0.00
3 Drainage LF $100.00 190 $19,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 698 $29,316 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 754 $2,074 0 $0.00
7 Hydrated lime material TN $175.00 12 $2,100 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 2,280 $9,120 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,280 $9,120.00
12 Testing SY $0.90 754 $679 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $1,948 1 $368
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 12 $14,400
$66,893 $27,038
Street "F2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.0 $1,200.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,978 $5,439 0 $0.00
3 Drainage LF $100.00 300 $30,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 833 $34,986 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 962 $38,480 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,795 $4,936 0 $0.00
7 Hydrated lime material TN $175.00 32 $5,600 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 3,600 $14,400 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 3,600 $14,400.00
12 Testing SY $0.90 1,795 $1,616 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,100 1 $621
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 20 $24,000
$140,756 $45,321
Street "F1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 5.0 $2,000.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,296 $9,065 0 $0.00
3 Drainage LF $200.00 500 $100,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,389 $58,338 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,312 $52,480 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,917 $8,022 0 $0.00
7 Hydrated lime material TN $175.00 48 $8,400 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 6,000 $24,000 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 6,000 $24,000.00
12 Testing SY $0.90 2,917 $2,625 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $7,948 1 $909
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 32 $38,400
$272,878 $69,609
Public
Public Enhancement
300 25' B-B 25' B-B
25' B-B
190 25' B-B
500
25' B-B
SUBTOTAL
25' B-B
STREET "F"
SUBTOTAL
SUBTOTAL
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 40
Appendix A:
Road Improvement Details
Street "F4"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 2.6 $1,040.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 944 $2,595 0 $0.00
3 Drainage LF $100.00 260 $26,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 848 $35,616 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 916 $2,519 0 $0.00
7 Hydrated lime material TN $175.00 15 $2,625 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 3,120 $12,480 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 3,120 $12,480.00
12 Testing SY $0.90 916 $824 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $2,511 1 $563
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 18 $21,600
$86,211 $40,943
$566,738 $182,912
Street "G4"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 1.8 $720.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 653 $1,797 0 $0.00
3 Drainage LF $100.00 180 $18,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 782 $32,844 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 845 $2,324 0 $0.00
7 Hydrated lime material TN $175.00 14 $2,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 2,160 $8,640 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,160 $8,640.00
12 Testing SY $0.90 845 $761 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $2,026 1 $354
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 12 $14,400
$69,561 $26,544
Street "G3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.8 $1,520.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,505 $6,889 0 $0.00
3 Drainage LF $100.00 380 $38,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,056 $44,352 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,075 $43,000 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,301 $6,328 0 $0.00
7 Hydrated lime material TN $175.00 38 $6,650 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,560 $18,240 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,560 $18,240.00
12 Testing SY $0.90 2,301 $2,071 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,011 1 $661
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 24 $28,800
$172,061 $51,501
Public
Public Enhancement
25' B-B25' B-B
25' B-B25' B-B
260
SUBTOTAL
25' B-B 25' B-B
SUBTOTAL
TOTAL COST OF STREET " F"
SUBTOTAL
380
STREET "G"
180
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 41
Appendix A:
Road Improvement Details
Street "G2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 5.5 $2,200.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,996 $5,490 0 $0.00
3 Drainage LF $100.00 550 $55,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,465 $61,530 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,582 $4,351 0 $0.00
7 Hydrated lime material TN $175.00 26 $4,550 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 6,600 $26,400 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 6,600 $26,400.00
12 Testing SY $0.90 1,582 $1,424 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,828 1 $981
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 36 $43,200
$165,772 $76,881
Street "G1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.1 $1,240.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,044 $5,620 0 $0.00
3 Drainage LF $100.00 310 $31,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 861 $36,162 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 841 $33,640 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,838 $5,055 0 $0.00
7 Hydrated lime material TN $175.00 30 $5,250 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 3,720 $14,880 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 3,720 $14,880.00
12 Testing SY $0.90 1,838 $1,654 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,035 1 $560
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 20 $24,000
$138,536 $43,240
$545,931 $198,166
Street "R1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 7.4 $2,960.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,563 $9,798 0 $0.00
3 Drainage LF $100.00 740 $74,000 0 $0.00
4 6"-3600 PSI concrete street pavement SY $36.00 2,056 $74,016 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 973 $38,920 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,270 $8,993 0 $0.00
7 Hydrated lime material TN $175.00 54 $9,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 0 $0.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 8,880 $35,520 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 8,880 $35,520.00
12 Testing SY $0.90 3,270 $2,943 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $7,698 1 $1,085
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 50 $60,000
$264,298 $97,255
Public
740
Street "R1"
25' B-B
25' B-B550
25' B-B
25' B-B
Public Enhancement
SUBTOTAL
310 25' B-B 25' B-B
SUBTOTAL
TOTAL COST OF STREET " G"
TOTAL COST OF STREET " R1"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 42
Appendix A:
Road Improvement Details
Street "R2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.5 $1,800.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,167 $5,958 0 $0.00
3 Drainage LF $100.00 450 $45,000 0 $0.00
4 6"-3600 PSI concrete street pavement SY $36.00 1,250 $45,000 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 499 $19,960 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,889 $5,195 0 $0.00
7 Hydrated lime material TN $175.00 31 $5,425 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 5,400 $21,600 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,400 $21,600.00
12 Testing SY $0.90 1,889 $1,700 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,549 1 $837
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 30 $36,000
$156,187 $64,737
$420,485 $161,992
Public Enhancement
Public
450 25' B-B
TOTAL COST OF STREET " R"
Street "R2"
25' B-B
TOTAL COST OF STREET " R2"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 43
Appendix B:
Other Site Improvement Details
A1.Water On-Site (CIP)Unit Cost Quant Total
1 36" RCCP Pipe LF $165.00 0 $0
2 16" PVC Pipe LF $60.00 10,005 $600,300
3 12" PVC Pipe LF $40.00 0 $0
4 36" Valve with vault EA $25,000.00 0 $0
5 16" Valves EA $5,500.00 12 $66,000
6 12" Valves EA $2,250.00 0 $0
7 6" Valves EA $850.00 12 $10,200
8 Fire hydrants EA $3,000.00 12 $36,000
9 Fittings (1 ton per 1000')TON $7,500.00 10.01 $75,038
10 Connect to existing pipe EA $3,500.00 4 $14,000
11 Trench safety LF $0.50 10,005 $5,003
12 Testing LF $2.00 10,005 $20,010
13 Payment, performance & maint bonds LS 3.00%1 $24,797
$851,347
A2.Water On-Site (Public)Unit Cost Quant Total
1 16" PVC Pipe LF $60.00 0 $0
2 12" PVC Pipe LF $40.00 14,715 $588,600
3 16" Valves EA $5,500.00 0 $0
4 12" Valves EA $2,250.00 37 $83,250
5 6" Valves EA $850.00 37 $31,450
6 Fire hydrants EA $3,000.00 37 $111,000
7 Fittings (1 ton per 1000')TON $5,000.00 14.72 $73,575
8 Concrete encasement LF $35.00 294 $10,301
9 Connect to existing pipe EA $1,500.00 6 $9,000
10 Trench safety LF $0.50 14,715 $7,358
11 Testing LF $2.00 14,715 $29,430
12 Payment, performance & maint bonds LS 3.00%1 $28,319
$972,282
A3.Water On-Site (Developer)Unit Cost Quant Total
1 8" PVC Pipe LF $25.00 13,010 $325,250
2 8" Valves EA $2,250.00 33 $74,250
3 6" Valves EA $850.00 37 $31,450
4 Fire hydrants EA $3,000.00 37 $111,000
5 Fittings (1 ton per 1000')TON $4,000.00 13.01 $52,040
6 Concrete encasement LF $35.00 260 $9,107
7 Connect to existing pipe EA $1,500.00 4 $6,000
8 Trench safety LF $0.50 13,010 $6,505
9 Testing LF $2.00 13,010 $26,020
10 Payment, performance & maint bonds LS 3.00%1 $19,249
$660,871
B1..Sanitary Sewer Off-Site (CIP)Units Cost Quant Total
1 18" SDR 26 PVC Pipe LF $85.00 7,360 $625,600
2 5' Diameter manhole EA $6,500.00 15 $97,500
3 Concrete encasement LF $45.00 147 $6,624
4 Connect to existing manhole EA $2,500.00 1 $2,500
5 Trench safety LF $0.50 7,360 $3,680
6 Testing LF $2.00 7,360 $14,720
7 Payment, performance & maint bonds LS 3.0%1 $22,519
$1,479,282TOTAL
ENGINEER'S OPINION OF PROBABLE COST, PREPARED BY JBI PARTNERS, INC. ON NOV. 14, 2012
NORTHWEST CORNER OF US380 AND DNT, PROSPER, TEXAS JBI PROJECT NO. ATH003
TOTAL
TOTAL
TOTAL
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 44
Appendix B:
Other Site Improvement Details
ENGINEER'S OPINION OF PROBABLE COST, PREPARED BY JBI PARTNERS, INC. ON NOV. 14, 2012
NORTHWEST CORNER OF US380 AND DNT, PROSPER, TEXAS JBI PROJECT NO. ATH003
B2..Sanitary Sewer On-Site (CIP)Units Cost Quant Total
1 18" PVC Pipe LF $65.00 2,790 $181,350
2 12" PVC Pipe LF $55.00 330 $18,150
3 10" PVC Pipe LF $40.00 0 $0
4 8" PVC Pipe LF $25.00 0 $0
5 Concrete encasement LF $35.00 62 $2,184
6 5' Diameter manhole EA $5,500.00 9 $49,500
7 Connect to existing manhole EA $1,500.00 1 $1,500
8 Trench safety LF $0.50 3,120 $1,560
9 Testing LF $2.00 3,120 $6,240
10 Payment, performance & maint bonds LS 3.0%1 $7,815
$268,299
B3..Sanitary Sewer On-Site (Public)Units Cost Quant Total
1 12" PVC Pipe LF $55.00 2,490 $136,950
2 10" PVC Pipe LF $40.00 0 $0
3 8" PVC Pipe LF $25.00 8,785 $219,625
4 Concrete encasement LF $35.00 226 $7,893
5 5' Diameter manhole EA $5,500.00 32 $176,000
6 Connect to existing manhole EA $1,500.00 1 $1,500
7 Trench safety LF $0.50 11,275 $5,638
8 Testing LF $2.00 11,275 $22,550
9 Payment, performance & maint bonds LS 3.0%1 $17,105
$587,260
B4..Sanitary Sewer On-Site (Developer)Units Cost Quant Total
1 12" PVC Pipe LF $55.00 0 $0
2 10" PVC Pipe LF $40.00 0 $0
3 8" PVC Pipe LF $25.00 3,160 $79,000
4 Concrete encasement LF $35.00 63 $2,212
5 5' Diameter manhole EA $5,500.00 9 $49,500
6 Connect to existing manhole EA $1,500.00 1 $1,500
7 Trench safety LF $0.50 3,160 $1,580
8 Testing LF $2.00 3,160 $6,320
9 Payment, performance & maint bonds LS 3.0%1 $4,203
$144,315
C.Drainage (Multi-box Culvert Drainage along US 380)Units Cost Quant Total
1 4 barrel 8' x 3' RCB LF $1,100.00 1,500 $1,650,000
2 Storm junction box EA $15,000.00 3 $45,000
3 Wing wall at 4 barrel 8' x 3' RCB EA $30,000.00 1 $30,000
4 Rock rip rap SY $85.00 80 $6,800
5 Trench safety LF $0.35 1,500 $525
6 Testing LF $1.25 1,500 $1,875
7 Payment, performance & maint bonds LS 3.00%1 $52,026
$1,786,226
D.Parking Deck Infrastructure Total
1 PARKING DECK D1-5 LEVELS (each level 185 spaces @ $12,000 per space)$13,320,000
2 PARKING DECK F1-5 LEVELS (each level 135 spaces @ $12,000 per space)$9,720,000
3 PARKING DECK G1-5 LEVELS (each level 330 spaces @ $12,000 per space)$23,760,000
4 PARKING DECK R1-5 LEVELS (each level 190 spaces @ $12,000 per space)$13,680,000
5 PARKING DECK R2-4 LEVELS (each level 110 spaces @ $12,000 per space)$6,336,000
6 CONTINGENCY (10%)$6,681,600
$73,497,600
TOTAL
TOTAL
TOTAL
TOTAL
TOTAL
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 45
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFA
Mixed use centers
The Crescent 100 Crescent Dallas 1,722,192 433,082 3.98 $246,022,620 $38,977,380 $285,000,000 $165 $90 2012 1983
shopping, theater 3699 McKinney 125,586 169,508 0.74 $18,579,530 $10,170,470 $28,750,000 $229 $60
apartments 3699 McKinney 190,062 95,749 1.98 $16,605,210 $5,744,790 $22,350,000 $118 $60 4 159
residential condos (20)3699 McKinney 34,486 17,256 2.00 $5,368,370 $775,290 $6,143,660 $178 $45 20
West Village Dallas 350,134 282,513 1.24 $40,553,110 $8,475,390 $57,243,660 $163 $30 2012 2000 179
Galleria 13350 Dallas 951,178 1,029,719 $246,697,430 $30,891,570 $277,589,000 $30 1981
garage 13350 Dallas 0 0 $6,411,000 $0 $6,411,000 1981
5200 Alpha 0 80,163 $0 $2,004,080 $2,004,080 $25
Nordstrom 5200 Alpha 230,000 0 $14,508,220 $0 $14,508,220 1995
Saks 13550 Dallas 171,000 0 $7,793,960 $0 $7,793,960 1981
Macy's 13401 Noel 0 112,385 $0 $2,809,630 $2,809,630 $25
Macy's 13375 Noel 253,795 0 $13,312,820 $0 $13,312,820 1984
Gap, etc.13250 Dallas 127,639 0 $5,725,000 $0 $5,725,000 1981
Galleria mall and department stores 1,733,612 1,222,267 1.42 $294,448,430 $35,705,280 $330,153,710 $190 $29
13155 Noel 573,816 168,612 $51,749,640 $5,058,360 $56,808,000 $30 1990
child day care center 13255 Noel 9,888 0 $500,000 $0 $500,000 1991
13355 Noel 493,925 114,585 $46,987,450 $3,437,550 $50,425,000 $30 1981
13455 Noel 457,985 85,617 $44,028,490 $2,568,510 $46,597,000 $30 1984
Galleria office buildings 1,535,614 368,814 4.16 $143,265,580 $11,064,420 $154,330,000 $101 $30
13340 Dallas 473,645 0 $45,805,050 $0 $45,805,050 1981 21 431
13340 Dallas 0 120,291 $0 $3,608,730 $3,608,730
Westin Galleria Hotel 473,645 120,291 3.94 $45,805,050 $3,608,730 $49,413,780 $104 $30
5244 Alpha 2,067 82,842 $17,790 $864,210 $882,000 $10 2005
5244 Alpha 0 15,481 $0 $387,030 $387,030 $25
Galleria vacant land 2,067 98,323 0.02 $17,790 $1,251,240 $1,269,030 $13
Galleria grand total Dallas 3,744,938 1,809,695 2.07 $483,536,850 $51,629,670 $535,166,520 $143 $29 2012
Legacy Town Center 7240 Dallas Parkway 108,337 272,816 0.40 $1,557,760 $4,092,240 $5,650,000 $52 $15
5800 Legacy 62,853 140,829 0.45 $8,556,199 $2,112,442 $10,668,641 $170 $15
5760 Legacy 106,144 218,236 0.49 $22,763,481 $2,618,827 $25,382,308 $239 $12
7161 Bishop 30,814 52,969 0.58 $3,869,224 $1,059,379 $4,928,603 $160 $20 2002
5700 Legacy 20,509 96,834 0.21 $2,901,092 $1,452,508 $4,353,600 $212 $15 2002
Angelika, UO, Ginger Man 7205 Bishop 45,960 75,359 0.61 $8,808,968 $1,130,382 $9,939,350 $216 $15 $2,310,522 $50
Retail stores and theater 374,617 857,043 0.44 $48,456,724 $12,465,778 $60,922,502 $163 $15
7121 Bishop 341,917 124,608 2.74 $39,673,380 $1,869,120 $41,542,500 $121 $15
7120 Dallas 0 57,173 0.00 $814,040 $1,143,460 $1,957,500 $20
Hotel 341,917 181,780 1.88 $40,487,420 $3,012,580 $43,500,000 $127 $17
6900 Dallas 374,300 292,985 1.28 $71,605,232 $4,394,768 $76,000,000 $203 $15
7160 Dallas 159,007 171,278 0.93 $27,430,831 $2,569,169 $30,000,000 $189 $15
Office buildings 533,307 464,262 1.15 $99,036,063 $6,963,937 $106,000,000 $199 $15
7008 Bishop 312,593 200,986 1.56 $29,690,456 $2,411,830 $32,102,286 $103 $12
5760 Daniel 90,122 32,082 2.81 $6,007,527 $802,049 $6,809,576 $76 $25
6901 Hansell 58,886 36,198 1.63 $4,931,820 $904,959 $5,836,779 $99 $25 2006
4751 Martin 135,304 65,776 2.06 $8,860,009 $1,183,961 $10,043,970 $74 $18 1999
5741 Martin 237,306 121,968 1.95 $16,392,320 $1,463,616 $17,855,936 $75 $12
7001 Parkwood 254,948 143,330 1.78 $22,599,955 $1,719,958 $24,319,913 $95 $12
Pearson 0 102,706 0.00 $0 $1,540,587 $1,540,587 $15
5700 Scruggs 92,676 66,211 1.40 $8,403,741 $1,324,224 $9,727,965 $105 $20 2006
5701 Scruggs 53,638 34,482 1.56 $4,974,726 $862,053 $5,836,779 $109 $25 2004
5701 Scruggs 96,347 107,419 0.90 $9,089,478 $1,611,284 $10,700,762 $111 $15 2004
5720 Scruggs 16,526 19,467 0.85 $1,458,919 $486,674 $1,945,593 $118 $25 2004
Multi-family rental dwellings 1,348,346 930,625 1.45 $112,408,951 $14,311,195 $126,720,146 $94 $15
Open space Legacy 0 102,527 0.00 $0 $1,000 $1,000 $0
Legacy Town Center (except Lunsford townhomes)Plano 2,598,187 2,536,238 1.02 $300,389,158 $36,754,490 $337,143,648 $130 $14 2012
All appraisals are for for tax year 2011, reflecting values as of January 1, 2011, unnless otherwise indicated. Within use types, properties are sorted in descending order of total appraised value per SF of GFA.
The purpose of this schedule is to relate actual appraisals for tax purposes and other quantitative measures of comparable development in the metropolitan area.
Improvement appraisals include garages, if on the premises. Gross floor area measurements exclude parking garages.
Street Address
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 46
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
apartments 2140 Medical District 352,598 316,158 1.12 $28,394,130 $4,742,370 $33,136,500 $94 $15 2008 4 396
apartments 2222 Medical District 304,102 203,218 1.50 $28,301,730 $3,048,270 $31,350,000 $103 $15 2006 4 278
retail 2222 Medical District 57,251 35,077 1.63 $3,358,880 $526,160 $3,885,040 $68 $15 2006 1
Cityville at Southwestern Medical Dallas 361,353 238,295 1.52 $31,660,610 $3,574,430 $35,235,040 $98 $15 2012 2006 4 278
5307 Mockingbird 589,374 379,682 $34,054,590 $20,882,510 $54,937,100 1999 211
5307 Mockingbird 7,880 $100,000 $100,000
Mockingbird Station Dallas 589,374 387,562 1.52 $34,054,590 $20,982,510 $55,037,100 $93 $54 2012
apartments, retail, office 15500 Quorum 841,707 364,467 2.31 $55,453,660 $4,373,600 $59,827,260 $71 $12 1998 4-7 610
apartments, retail 4949 Adddsion Circle 407,762 224,857 1.81 $41,341,830 $2,698,280 $44,040,110 $108 $12 1996 4 460
apartments 4901 Morris 158,253 49,353 3.21 $14,540,390 $592,240 $15,132,630 $96 $12 1999 4 171
apartments 4851 Morris 97,809 66,037 1.48 $7,839,630 $660,370 $8,500,000 $87 $10 2000 4 93
Post at Addison Circle Addison 1,505,531 704,713 2.14 $119,175,510 $8,324,490 $127,500,000 $85 $12 2012 1,334
General Retail
Highland Park Village 4200 Mockingbird 278,142 423,054 $56,465,550 $43,559,900 $100,025,450 $103 1931
HPV parking north of Mockingbird 4200 Mockingbird 0 100,663 $0 $4,974,550 $4,974,550 $49
Highland Park Village High. Park 278,142 523,717 0.53 $56,465,550 $48,534,450 $105,000,000 $378 $93 2012
Mockingbird Central Plaza 5400 Mockingbird Dallas 71,120 185,718 0.38 $6,425,570 $13,000,260 $19,425,830 $273 $70 2012 1985 2 $1,739,920 $24
NorthPark 8687 N. Central 1,713,484 3,345,060 0.51 $358,796,400 $200,703,600 $559,500,000 $327 $60 1965 2 $122,626,249 $72
Macy's 7901 W. Northwest 250,000 151,088 1.65 $10,209,380 $9,065,280 $19,274,660 $77 $60 2000 2 $11,798,380 $47
Nordstrom 7901 W. Northwest 202,905 0 $16,130,950 $0 $16,130,950 2004 2 $19,399,290 $96
Neiman Marcus 400 Northpark 139,940 83,625 1.67 $12,582,500 $5,017,500 $17,600,000 $126 $60 1965 2 $25,933,200 $185
8850 Boedeker 64,307 87,165 0.74 $16,760 $4,358,240 $4,375,000 $68 $50 1973 3 N.A.
NorthPark total Dallas 2,370,636 3,666,938 0.65 $397,735,990 $219,144,620 $616,880,610 $260 $60 2012 $179,757,119 $78
Lincoln Park (retail with grocery)7700 W. Northwest Dallas 153,642 502,208 0.31 $6,867,520 $30,132,480 $37,000,000 $241 $60 2012 1997 $4,992,560 $32
Walgreen's 5742 E. Mockingbird Dallas 15,328 63,005 0.24 $1,229,580 $1,575,130 $2,804,710 $183 $25 2012 2001 1 $1,120,060 $73
Sleep Experts, etc 10910 N Central 10,215 45,999 0.22 $542,870 $919,980 $1,462,850 $143 $20 2005 1 $98,000 $10
10910 N Central 0 7,356 0.00 $0 $50,000 $50,000 $7
10910 N Central 13,172 52,141 0.25 $966,960 $1,042,820 $2,009,780 $153 $20 2005 1 $98,220 $7
Backyard Burgers 10930 N Central 2,223 19,950 0.11 $339,040 $399,000 $738,040 $332 $20 2006 1 $128,350 $58
Royal Crossing Shopping Center Dallas 25,610 125,446 0.20 $1,848,870 $2,411,800 $4,260,670 $166 $19 2012 $324,570 $13
Southlake Town Square commercial
Excluding tax-exempt properties Southlake 1,143,012 2,424,705 0.47 $183,771,608 $25,342,121 $209,113,729 $183 $10 2010
Taxable, including tax-exempt SF Southlake 1,541,319 3,046,932 0.51 $183,771,608 $25,342,121 $209,113,729 $136 $8 2010
Whatburger, Taco Bell, Long John 1201 W. Glade Euless 6,951 66,399 0.10 $945,264 $1,344,580 $2,289,844 $329 $20 2003 $254,531 $37
Mixed retail and services 1301 W. Glade Euless 73,739 331,152 0.22 $7,322,250 $2,483,640 $9,805,890 $133 $8 2001 $1,492,089 $20
Chick-Fil-A, Parker Uniforms, etc.3001 State Hwy. 121 Euless 4,162 40,709 0.10 $185,018 $824,357 $1,009,375 $243 $20 2001 $695,339 $167
7-Eleven and Citgo 3011 State Hwy. 121 Euless 3,285 40,075 0.08 $193,028 $901,688 $1,094,716 $333 $23 1998 $215,661 $66
Heritage Crossing Center total 1201 W. Glade Euless 88,137 478,335 0.18 $8,645,560 $5,554,265 $14,199,825 $161 $12 2012 2003 $2,657,620 $30
MacArthur Mills shopping center 4000 N. MacArthur Irving 137,223 572,269 0.24 $14,277,310 $5,722,690 $20,000,000 $146 $10 2012 1987
CVS 3614 Camp Bowie Fort Worth 16,092 70,800 0.23 $684,570 $1,593,000 $2,277,570 $142 $23 2010 1 $955,411 $59
Grapevine Mills Center 2225 Grapevine Mills Cir 78,344 149,063 0.53 $4,981,422 $894,378 $5,875,800 $75 $6 1997
2219 Grapevine Mills Cir 53,384 144,794 0.37 $4,469,636 $868,764 $5,338,400 $100 $6 1997
3000 Grapevine Mills Pkwy 1,244,207 5,423,176 0.23 $147,406,980 $32,539,056 $179,946,036 $145 $6 1997
Grapevine Mills Center total Grapevine 1,375,935 5,717,033 0.24 $156,858,038 $34,302,198 $191,160,236 $139 $6 2011
Stonebriar Mall dept. stores (5)884,477 2,475,763 0.36 $19,956,505 $24,757,630 $44,714,135 $51 $10
Other mall stores inside ring road 1,232,169 2,147,726 0.57 $206,462,298 $21,958,340 $228,420,638 $185 $10
Stonebriar Mall outside ring road 525,865 3,661,545 0.14 $43,755,263 $53,081,085 $96,836,348 $184 $14
Stonebriar Mall total Frisco 2,642,511 8,285,034 0.32 $270,174,066 $99,797,055 $369,971,121 $140 $12 2012 2000
Best Buy, Toys R Us, Golf Galaxy 9358 N. Central Dallas 184,996 636,318 0.29 $9,092,050 $15,907,950 $25,000,000 $135 $25 2012 1992 $6,504,550 $35
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 47
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
South Frisco Village 2930 Preston Frisco 234,866 1,092,703 0.21 $20,758,376 $8,741,624 $29,500,000 $126 $8 2012 2001 $7,735,970 $33
907 Bethany 753,787 1,287,546 0.59 $87,527,665 $7,725,279 $95,252,944 $126 $6 2007
985 Bethany 72,060 186,228 0.39 $6,178,709 $1,117,366 $7,296,075 $101 $6 2007
Watters Creek at Montgmery Farm Allen 825,847 1,473,774 0.56 $93,706,374 $8,842,645 $102,549,019 $124 $6 2012
medical and Chipotle 11613 N. Central 61,916 209,038 0.30 $1,567,300 $4,703,360 $6,270,660 $101 $23 1979 $712,870
medical 11617 N. Central 28,400 88,879 0.32 $1,056,320 $1,999,780 $3,056,100 $108 $23 1979 $1,092,940
Boston Market 11717 N. Central 4,240 24,805 0.17 $274,180 $595,320 $869,500 $205 $24 1981 $351,410
7-Eleven 7950 Forest 2,016 16,291 0.12 $304,080 $488,730 $792,810 $393 $30 1976 $134,430
Schlotzky's 7804 Forest 2,700 13,984 0.19 $197,210 $314,640 $511,850 $190 $23 1979 $70,180
Taco Bueno 7940 Forest 2,806 23,640 0.12 $41,040 $567,360 $608,400 $217 $24 1979 $130,650
Central Forest Shopping Center total Dallas 102,078 376,637 0.27 $3,440,130 $8,669,190 $12,109,320 $119 $23 2012 $2,492,480 $24
Chase Bank 908 McDermott W.4,485 52,485 0.09 $586,105 $970,973 $1,557,078 $347 $18 1999 $238,615 $53
Hobby Lobby, Fed Ex 107 Central N.135,221 504,826 0.27 $14,327,760 $3,533,782 $17,861,542 $132 $7 1999 $789,072 $6
Compass Bank 806 McDermott W.2,607 54,886 0.05 $334,590 $987,948 $1,322,538 $507 $18 1999 $66,350 $25
Jack in the Box 804 McDermott W.2,799 35,092 0.08 $372,569 $666,748 $1,039,317 $371 $19 1999 $98,850 $35
Golden Chick 802 McDermott W.3,915 56,192 0.07 $299,788 $1,180,040 $1,479,828 $378 $21 1999 $159,699 $41
Chipotle Mexican Grill 103 Central N.4,683 40,946 0.11 $448,382 $777,974 $1,226,356 $262 $19 2000 $108,989 $23
Stacy's Furniture, etc.111 Central N.125,370 447,453 0.28 $5,287,855 $3,355,898 $8,643,753 $69 $8 1999 $2,201,800 $18
Arby's 201 Central N.2,950 35,589 0.08 $398,076 $605,013 $1,003,089 $340 $17 1999 $63,857 $22
Holiday Inn Express 205 Central N.50,523 92,430 0.55 $2,814,345 $785,655 $3,600,000 $71 $9 2006 $0 $0
On the Border 213 Central N.7,200 66,054 0.11 $684,848 $1,122,918 $1,807,766 $251 $17 2000 $224,466 $31
209 Central N.4,188 23,435 0.18 $319,117 $398,395 $717,512 $171 $17 2001
Jason's Deli, misc. retail 906 McDermott W.29,259 186,380 0.16 $3,130,756 $1,304,660 $4,435,416 $152 $7 1999 $2,098,372 $72
Tom Thumb 900 McDermott W.59,964 267,350 0.22 $3,267,433 $2,005,125 $5,272,558 $88 $8 1999 $2,991,904 $50
914 McDermott W.7,500 29,664 0.25 $1,173,978 $504,288 $1,678,266 $224 $17 2000
Chik-Fil-A 902 McDermott W.3,910 32,247 0.12 $552,435 $548,199 $1,100,634 $281 $17 1999 $288,525 $74
SWH 810 McDermott W.6,600 52,904 0.12 $657,523 $925,820 $1,583,343 $240 $18 2000 $316,700 $48
24-Hour Fitness 510 Watters N.38,485 146,017 0.26 $4,183,201 $803,096 $4,986,297 $130 $5 2002 $477,621 $12
vacant 504 Watters N.0 55,452 0.00 $0 $304,985 $304,985 $5 $0 N.A.
McDermott @ Central (NW corner)Allen 489,659 2,179,403 0.22 $38,838,761 $20,781,517 $59,620,278 $122 $10 2012 $10,124,820 $21
Preston Forest Shopping Center 11700 Preston 0 364,015 0.00 $0 $5,460,230 $5,460,230 $15
Whole Foods 11700 Preston 78,040 51,960 1.50 $6,153,460 $779,400 $6,932,860 $89 $15 2006 $4,604,290 $59
11700 Preston 27,824 27,824 1.00 $1,736,890 $417,360 $2,154,250 $77 $15 1960
11700 Preston 88,700 42,200 2.10 $7,023,110 $633,000 $7,656,110 $86 $15 1961 $953,510 $11
Stapels 11700 Preston 29,680 29,280 1.01 $2,254,060 $439,200 $2,693,260 $91 $15 1960
11700 Preston 21,380 21,380 1.00 $1,675,690 $427,600 $2,103,290 $98 $20 1958
Wells Fargo 11730 Preston 3,120 15,655 0.20 $605,350 $469,650 $1,075,000 $345 $30 2003 $204,700 $66
Preston Forest Shopping Center Dallas 248,744 552,314 0.45 $19,448,560 $8,626,440 $28,075,000 $113 $16 2012
Oaktree Plaza Shopping Center 1447 S Loop 288 Denton 69,406 324,086 0.21 $2,791,790 $3,889,032 $6,680,822 $96 $12 2012 1998 1
Willow Bend Mall dept. stores (4)723,629 731,322 0.99 $22,404,305 $8,647,683 $31,051,988 $43 $12
Other mall stores 856,870 2,684,450 0.32 $61,155,496 $26,844,504 $88,000,000 $103 $10
Park Blvd. pad sites 50,628 435,252 0.12 $6,321,746 $11,127,991 $17,449,737 $345 $26
Willow Bend Mall total Plano 1,631,127 3,851,024 0.42 $89,881,547 $46,620,178 $136,501,725 $84 $12 2012 2000
Target 8550 East Freeway 103,664 392,140 0.26 $2,155,200 $2,941,050 $5,096,250 $49 $8 $2,369,942 $23
UA Theater, Ross, Conn's, etc.8350 East Freeway 310,310 1,958,221 0.16 $7,799,022 $14,485,269 $22,284,291 $72 $7 $4,765,326 $15
Eastchase Market Fort Worth 413,974 2,350,361 0.18 $9,954,222 $17,426,319 $27,380,541 $66 $7 2011 1995 $7,135,268 $17
Big Box Retail
Best Buy 1515 W. State Hwy 114 Grapevine 45,250 179,928 0.25 $2,836,103 $1,743,650 $4,579,753 $101 $10 2011 $2,754,169 $61
Ashley Furniture, TRS Furnishings 3400 Grapevine Mills Grapevine 51,575 188,876 0.27 $2,422,364 $2,077,636 $4,500,000 $87 $11 2011 2004 $745,039 $14
Wal-Mart Supercenter 1721 Custer N.McKinney 207,893 970,343 0.21 $11,920,488 $5,819,525 $17,740,013 $85 $6 2012 2006 $8,177,926 $39
Best Buy 6750 West Freeway Fort Worth 27,812 84,736 0.33 $1,707,112 $677,888 $2,385,000 $86 $8 2011 $1,637,235 $59
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 48
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
Home Depot 6010 Skillman 97,191 384,138 0.25 $1,000 $5,762,070 $5,763,070 $59 $15 1992
Home Depot 6320 Eastridge 12,080 303,613 $1,993,090 $2,428,900 $4,421,990 $366 $8
Home Depot Dallas 109,271 687,751 0.16 $1,994,090 $8,190,970 $10,185,060 $93 $12 2012
Best Buy 2800 N. Central Plano 45,830 215,012 0.21 $1,880,792 $1,935,108 $3,815,900 $83 $9 2012 1999 $2,840,805 $62
Costco 1701 Dallas Plano 159,547 682,324 0.23 $4,553,013 $8,529,050 $13,082,063 $82 $13 2012 2001 $12,110,156 $76
Wal-Mart Supercenter 6000 Coit Plano 112,965 545,241 0.21 $5,331,624 $3,544,067 $8,875,691 $79 $7 2012 2000 $5,052,481 $45
Costco 3800 Central N.Plano 151,761 716,998 0.21 $6,621,855 $5,018,983 $11,640,838 $77 $7 2012 2000 $10,584,131 $70
Wal-Mart Supercenter 6001 Central N.Plano 208,390 840,621 0.25 $7,806,029 $6,724,967 $14,530,996 $70 $8 2012 1994 $9,465,024 $45
Super Target 5301 N. Garland Garland 174,664 564,455 0.31 $6,303,060 $5,644,550 $11,947,610 $68 $10 2012 2002 $4,629,730 $27
Costco 2604 E Southlake Southlake 146,683 713,084 0.21 $6,002,226 $3,565,420 $9,567,646 $65 $5 2011 2001 $9,946,271 $68
Super Target 601 S. Plano Richardson 175,680 624,825 0.28 $6,837,220 $4,998,600 $11,835,820 $67 $8 2012 2002 $4,467,380 $25
Lowe's 11920 Inwood Dallas 131,740 648,303 0.20 $649,320 $7,779,640 $8,428,960 $64 $12 2012 1997 $5,306,750 $40
Costco 600 W Arbrook Arlington 147,706 679,080 0.22 $2,289,634 $6,790,800 $9,080,434 $61 $10 2011 2001 $9,975,907 $68
Wal-Mart Supercenter 8801 Ohio Plano 224,132 934,645 0.24 $7,534,570 $7,009,838 $14,544,408 $65 $7 2012 2000 $7,899,132 $35
Costco 4901 Citylake E Fort Worth 152,095 867,626 0.18 $3,526,618 $6,073,382 $9,600,000 $63 $7 2011 2000 $9,080,131 $60
Lowe's 1710 Chalk Hill Dallas 132,008 628,571 0.21 $3,990,630 $3,771,430 $7,762,060 $59 $6 2012 $4,692,840 $36
Super Target 3730 Belt Line Addison 122,202 502,574 0.24 $3,511,910 $4,020,590 $7,532,500 $62 $8 2012 1993 $3,436,470 $28
Super Target 1401 W. Glade Euless 181,350 630,971 0.29 $8,016,305 $3,154,855 $11,171,160 $62 $5 2010 $4,372,422 $24
Super Target 1400 Precinct Line Hurst 164,832 742,441 0.22 $6,441,446 $3,712,205 $10,153,651 $62 $5 2010 $3,760,793 $23
Costco 250 US Hwy 67 Duncanville 152,734 716,998 0.21 $5,928,260 $1,971,740 $7,900,000 $52 $3 2012 2006 $9,612,690 $63
Home Depot 11682 Forest Central Dallas 110,214 547,549 0.20 $901,000 $5,475,490 $6,376,490 $58 $10 2012 1998 $5,273,770 $48
Home Depot 6411 Precinct Line NRH 114,189 674,114 0.17 $4,320,219 $2,157,865 $6,478,084 $57 $3 2010 $4,519,810 $40
Home Depot 2220 N. Coit Richardson 111,920 467,225 0.24 $3,196,350 $2,803,350 $5,999,700 $54 $6 2012 1999 $4,605,440 $41
Ross 4629 S. Hulen Fort Worth 29,280 111,949 0.26 $47,850 $1,427,350 $1,475,200 $50 $13 2011 $355,896 $12
Home Depot 251 Industrial Euless 107,500 539,206 0.20 $3,227,176 $2,156,824 $5,384,000 $50 $4 2010 $4,798,256 $45
Lowe's 8520 S. Hampton Dallas 130,112 774,536 0.17 $745,350 $5,421,750 $6,167,100 $47 $7 2012 1997 $4,638,230 $36
Home Depot 300 Village Center Southlake 128,775 502,138 0.26 $814,758 $4,519,242 $5,334,000 $41 $9 2010 $5,081,718 $39
Supermarkets
Tom Thumb 7117 Inwood Dallas 42,203 106,766 0.40 $3,888,680 $2,135,320 $6,024,000 $143 $20 2012 2010 $3,600,590 $85
Central Market 5750 E. Lovers Dallas 76,589 313,984 0.24 $926,550 $7,256,320 $8,182,870 $107 $23 2012 2001 $6,229,810 $81
Tom Thumb 3757 Forest Dallas 48,250 165,789 0.29 $2,700,920 $1,657,890 $4,358,810 $90 $10 2012 1984 $2,627,110 $54
Tom Thumb 900 McDermott W.Allen 59,964 267,350 0.22 $3,267,433 $2,005,125 $5,272,558 $88 $8 2012 1999 $2,704,325 $45
Kroger 5665 E. Mockingbird Dallas 79,228 349,046 0.23 $869,490 $5,889,090 $6,758,580 $85 $17 2012 1994 $3,328,410 $42
Tom Thumb 4848 Preston Frisco 63,369 276,044 0.23 $3,191,648 $2,208,352 $5,400,000 $85 $8 2012 1999 $2,885,846 $46
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 49
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
Kroger 950 E. Sandy Lake Coppell 63,507 305,294 0.21 $1,916,370 $2,442,350 $4,358,720 $69 $8 2012 1998 $4,328,110 $68
Kroger 160 Coit Richardson 72,808 306,632 0.24 $2,223,530 $1,947,350 $4,170,880 $57 $6 2012 1995 $1,900,050 $26
Restaurants
Freddy's Frozen Custard 2820 State Hwy 121 Euless 3,545 37,371 0.09 $258,753 $934,275 $1,193,028 $337 $25 2012 2008 $183,366 $52
Applebee's 1820 University W.McKinney 5,489 72,092 0.08 $507,377 $1,297,656 $1,805,033 $329 $18 2012 1993 $143,808 $26
Chili's 1610 N. Cockrell Hill Dallas 5,844 85,072 0.07 $635,920 $1,280,080 $1,916,000 $328 $15 2012 2004 $252,860 $43
McDonald's 13105 Montfort Dallas 4,612 30,000 0.15 $766,020 $733,980 $1,500,000 $325 $24 2012 2001 $406,190 $88
Red Lobster 3056 Preston Frisco 7,087 74,226 0.10 $604,723 $1,484,520 $2,089,243 $295 $20 2012 2001 $183,846 $26
Steak N Shake 2205 Grapevine Mills Grapevine 3,884 54,791 0.07 $98,149 $1,027,331 $1,125,480 $290 $19 2012 2001 $112,267 $29
Olive Garden 2886 Preston Frisco 8,144 76,666 0.11 $750,095 $1,533,320 $2,283,415 $280 $20 2012 2001 $288,084 $35
Cracker Barrel 2700 Grapeveine Mills Grapevine 10,148 86,748 0.12 $890,370 $1,759,630 $2,650,000 $261 $20 2012 2006 $507,621 $50
Texas Roadhouse 3001 State Hwy 121 Bedford 7,200 100,912 0.07 $964,970 $731,612 $1,696,582 $236 $7 2012 2005 $230,107 $32
Dickey's Barbecue 711 Keller Parkway Keller 3,434 37,805 0.09 $240,485 $415,855 $656,340 $191 $11 2012 2005 $155,147 $45
Chili's 329 Spring Valley Richardson 6,176 51,531 0.12 $683,030 $412,250 $1,095,280 $177 $8 2012 1982 $153,840 $25
Pappadeaux 725 S. Central Richardson 10,620 130,811 0.08 $837,440 $1,046,490 $1,883,930 $177 $8 2012 1991 $251,300 $24
Applebee's 2215 Grapevine Mills Grapevine 6,897 62,467 0.11 $235,251 $937,005 $1,172,256 $170 $15 2012 1999 $221,287
Chili's 12815 Preston Dallas 6,356 17,500 0.36 $503,360 $516,640 $1,020,000 $160 $30 2012 1983 $280,050 $44
Pappasito's 723 S. Central Richardson 9,145 71,874 0.13 $489,060 $574,990 $1,064,050 $116 $8 2012 1982 $225,700 $25
Hotels
Ritz Carlton 2121 McKinney Dallas 284,513 145,686 1.95 $26,427,640 $13,111,740 $39,539,380 $139 $90 2012 2005 8 217
W Hotel 2440 Victory Park Dallas 294,261 20,086 14.65 $35,143,910 $1,004,290 $36,148,200 $123 $50 2012 2004 12 252
Marriott Residences 2500 Museum Fort Worth 106,804 103,280 1.03 $9,286,955 $3,363,830 $12,650,785 $118 $33 2012 150
Melrose Hotel 3015 Oak Lawn Dallas 146,350 118,744 1.23 $10,596,990 $5,937,200 $16,534,190 $113 $50 2012 1923 8 184
Hampton Inn 3199 Parkwood Frisco 67,298 127,021 0.53 $5,296,023 $1,905,300 $7,201,323 $107 $15 2012 2002 105
Embassy Suites 7600 John Q. Hammons Frisco 309,688 80,586 3.84 $30,791,210 $1,208,790 $32,000,000 $103 $15 2012 2004 329
Marriott 8440 Freeport Irving 367,000 504,367 0.73 $34,978,160 $2,521,840 $37,500,000 $102 $5 2012 1981 19 492 $1,078,080 $3
Embassy Suites 2401 Bass Pro Grapevine 329,353 354,251 0.93 $29,103,239 $3,896,761 $33,000,000 $100 $11 2012 1998 329 $107,508 $0
Fairmont Hotel 1717 N. Akard Dallas 579,037 98,886 5.86 $49,942,980 $5,933,160 $55,876,140 $96 $60 2012 1961 24 550
Gaylord Texan 1501 Gaylord Trail Grapevine 2,886,535 2,231,971 1.29 $266,417,640 $7,811,898 $274,229,538 $95 $3 2012 2004 1,511 $1,446,817 $1
Hampton Inn 13600 North Freeway Fort Worth 64,439 101,843 0.63 $5,047,685 $814,744 $5,862,429 $91 $8 2012 102
Homewood Suites 2214 W. Grapevine Mills C Grapevine 85,831 117,495 0.73 $6,307,010 $1,409,940 $7,716,950 $90 $12 2012 2000 105
Richardson Hotel 701 E. Campbell Richardson 238,184 304,920 0.78 $15,808,930 $2,439,360 $18,248,290 $77 $8 2012 1986 18 342 $20,550 $0
Holiday Inn Express 4220 Preston Frisco 32,080 62,674 0.51 $1,813,250 $626,750 $2,440,000 $76 $10 2012 1998
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 50
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
Hilton Garden Inn 705 Central Expy. S.Allen 94,047 151,406 0.62 $5,913,057 $1,286,943 $7,200,000 $77 $8 2012 6 150 $17,326 $0
221 E. Las Colinas 469,805 254,760 1.84 $32,398,970 $2,547,600 $34,946,570 $74 $10 1982 27 421
215 E. Las Colinas 5,135 34,834 0.15 $314,780 $348,340 $663,120 $129 $10 1981
Omni Mandalay Irving 474,940 289,594 1.64 $32,713,750 $2,895,940 $35,609,690 $75 $10 2012 421
900 E. Lookout 176,800 38,155 4.63 $11,260,330 $305,240 $11,565,570 $65 $8 $1,791,610 $10
900 E. Lookout 134723 92,774 1.45 $9,268,649 $881,351 $10,150,000 $75 $9
Marriott Renaissance Richardson 311,523 130,929 2.38 $20,528,979 $1,186,591 $21,715,570 $70 $9 2012 2000 12 218 $87,140 $0
Holiday Inn at Pinnacle Park 4321 Communications Dallas 58,886 108,900 0.54 $2,889,770 $680,630 $3,570,400 $61 $6 2012 2009 4 89
Super 8 Motel 220 W. Spring Valley Richardson 26,352 57,504 0.46 $887,960 $460,030 $1,347,990 $51 $8 2012 57
Budget Suites Hotel 700 Walnut Ridge Irving 137,293 304,876 0.45 $3,215,680 $3,658,510 $6,874,190 $50 $12 2012 1998 3 336
Super 8 Motel 910 N. Central McKinney 30,486 79,597 0.38 $360,321 $795,970 $1,156,291 $38 $10 2012 3
Super 8 Motel 1704 N. Central Plano 36,975 87,612 0.42 $663,327 $525,673 $1,189,000 $32 $6 2012
Cinema
Cinemark Theater 7201 Central Plano 100,530 856,825 0.12 $8,644,569 $5,355,431 $14,000,000 $139 $6 2012 1998 $1,512,267 $15
Studio Movie Grill 11170 N. Central Dallas 59,829 222,178 0.27 $2,204,720 $4,443,560 $6,648,280 $111 $20 2012 1993 $1,892,960 $32
Cinemark Theater 1701 Central S.McKinney 55,744 385,201 0.14 $3,505,914 $2,664,086 $6,170,000 $111 $7 2012 1994 $455,018 $8
AMC Mesquite 30 19919 LBJ Mesquite 130,891 1,028,451 0.13 $8,943,100 $2,056,900 $11,000,000 $84 $2 2012 1997 $1,074,100 $8
Office buildings
Texas Health Resources Center 7115 Greenville Dallas 87,621 159,430 0.55 $16,710,900 $1,913,100 $18,624,000 $213 $12 2012 2002 4 $7,743,490 $88
2100 McKinney 2100 McKinney Dallas 374,654 136,491 2.74 $52,416,830 $12,284,190 $64,701,020 $173 $90 2012 1998 13 $8,349,040 $22
Knox Park Village 3001 Knox Dallas 79,127 87,172 0.91 $7,986,120 $3,486,880 $11,473,000 $145 $40 2012 2002 4 $1,534,810 $19
Hall Office Park (developed tracts only)Frisco 2,009,099 5,462,293 0.37 $238,659,643 $38,907,630 $277,567,273 $138 $7 2012
Chase Tower 2200 Ross Dallas 1,253,167 111,993 11.19 $165,244,190 $6,741,970 $171,986,160 $137 $60 2012 1985 55 $26,747,200 $21
5201 N. O'Connor 32,887 81,478 0.40 $6,979,220 $814,780 $7,794,000 $237 $10 1981 3
5205 N. O'Connor 411,592 222,967 1.85 $52,664,330 $2,229,670 $54,894,000 $133 $10 1981 14
5215 N. O'Connor 735,258 210,408 3.49 $90,074,920 $2,104,080 $92,179,000 $125 $10 1981 28
5221 N. O'Connor 411,592 157,408 2.61 $52,955,920 $1,574,080 $54,530,000 $132 $10 1981 14
Williams Center Irving 1,591,329 672,261 2.37 $202,674,390 $6,722,610 $209,397,000 $132 $10 2012
Facial Surgery Center 6101 Chapel Hill Plano 27,100 103,220 0.26 $2,342,101 $1,238,628 $3,580,729 $132 $12 2012 2003
TGI Friday's Headquarters 4201 Marsh Carrollton 138,598 520,324 0.27 $12,973,777 $5,203,240 $18,177,017 $131 $10 2012 2003 2 $1,841,000 $13
Trammell Crow Center 2001 Ross Dallas 1,245,324 95,048 13.10 $149,297,120 $5,702,880 $155,000,000 $124 $60 2012 1982 54 $22,650,010 $18
Accor (Billingsley)4001 International Carrollton 139,102 357,366 0.39 $12,288,105 $3,573,660 $15,861,765 $114 $10 2012 2003 2
Bailey Plaza 200 Bailey Fort Worth 37,064 62,233 0.60 $3,556,185 $373,398 $3,929,583 $106 $6 2012 $497,325 $13
Wayside Business Center 8222 N. Beltline Irving 136,000 452,588 0.30 $11,709,650 $1,810,350 $13,520,000 $99 $4 2012 2000 2 $1,085,990 $8
Nokia Building 4 6000 Connection Irving 366,000 478,186 0.77 $33,169,880 $2,869,120 $36,039,000 $98 $6 2012 1997 4 $30,352,120 $83
Fountain Place 1445 Ross Dallas 1,297,418 78,848 16.45 $115,003,160 $4,730,880 $119,734,040 $92 $60 2012 1984 60
ATT at Pinnacle Park 4331 Communications Dallas 207,992 520,978 0.40 $18,176,580 $1,823,420 $20,000,000 $96 $3 2012 2000 4 $137,960 $1
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 51
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
NEC America Buildings (2)6535 N. State Hwy 161 543,965 349,382 1.56 $38,800,710 $2,096,290 $40,897,000 $75 $6 1999 4 $7,242,970 $13
NEC America garage 6560 Parkridge 0 491,374 0.00 $4,505,040 $2,456,870 $6,961,910 $5 1999 4
NEC America Irving 543,965 840,756 0.65 $43,305,750 $4,553,160 $47,858,910 $88 $5 2012
1845 Woodall Rodgers 1845 Woodall Rodgers Dallas 185,007 36,190 5.11 $12,992,900 $3,257,100 $16,250,000 $88 $90 2012 1984 17 $2,347,240 $13
Citicorp North America 3950 Regent Irving 634,939 2,277,883 0.28 $43,010,580 $11,389,420 $54,400,000 $86 $5 2012 2005 3 $3,341,070 $5
Freeport Office Center Ph 3 8700 Freeport Irving 152,200 516,521 0.29 $10,832,180 $1,807,820 $12,640,000 $83 $3 2012 1998 2 $544,720 $4
740 East Campbell 740 E. Campbell Richardson 178,700 116,305 1.54 $13,449,040 $926,960 $14,376,000 $80 $8 2012 1986 10 $1,880,740 $11
5020 Riverside 5000 Riverside Irving 483,257 549,740 0.88 $33,265,960 $4,123,050 $37,389,010 $77 $8 2012 1986 4 $33,769,780
DFW Freeport 8th INST 8650 S. Freeport Irving 95,268 265,215 0.36 $5,751,750 $928,250 $6,680,000 $70 $3 2012 1998 2 $411,110 $4
Royal Regent Business Park 3660 Regent Irving 159,000 587,929 0.27 $5,060,350 $2,939,650 $8,000,000 $50 $5 2012 1999 2 $2,938,230 $18
Data centers
Bank of America (Bracebridge)3510 Wyndham Richardson 137,772 513,572 0.27 $51,988,699 $4,108,579 $56,097,278 $407 $8 2012 1999 $44,275,216 $321
AT&T Data Center 900 Venture Allen 126,000 372,786 0.34 $18,316,768 $2,050,326 $20,367,094 $162 $6 2012 $19,936,441 $158
Experian 3400 Stonebridge McKinney 74,530 566,801 0.13 $15,732,772 $2,267,228 $18,000,000 $242 $4 2012 $15,752,168 $211
New Cingular Wireless 800 Venture Allen 159,481 399,619 0.40 $18,728,701 $2,197,907 $20,926,608 $131 $6 2012 $177,538,249 $1,113
Bank of America (Equant)3000 Telecom Richardson 148,849 868,586 0.17 $28,786,781 $3,040,052 $31,826,833 $214 $3 2012 $31,581,133 $212
1001 E. Campbell Data Center 1001 E. Campbell Richardson 75,725 259,544 0.29 $5,634,030 $2,076,350 $7,710,380 $102 $8 2012 1980 1 $20,570,550 $272
State Farm Data Center 8225 Bent Branch Irving 251,160 996,783 0.25 $13,909,650 $2,990,350 $16,900,000 $67 $3 2012 1996 1 $28,272,470 $113
Residences, rental
Alta Uptown 2728 McKinnon Dallas 377,476 94,960 3.98 $59,007,200 $5,222,800 $64,230,000 $170 $55 2012 2007 19 375
Windsor at Trianon 2820 McKinnon Dallas 340,538 181,724 1.87 $40,005,180 $9,994,820 $50,000,000 $147 $55 2012 2004 4 317
Marquis on McKinney 3324 McKinney Dallas 141,392 39,814 3.55 $17,561,160 $2,388,940 $19,950,100 $141 $60 2012 2002 7 144
Ashton 2215 Cedar Springs Dallas 386,790 96,790 4.00 $43,744,760 $5,807,400 $49,552,160 $128 $60 2012 2003 18 267
Gables Ellis Street 3101 State Dallas 118,211 116,819 1.01 $10,372,240 $4,672,760 $15,045,000 $127 $40 2012 2001 3 82
The Mondrian 3000 Blackburn Dallas 361,984 123,275 2.94 $35,987,120 $8,012,880 $44,000,000 $122 $65 2012 2003 20 218
Jefferson at 1001 Ross 1001 Ross Dallas 222,581 77,816 2.86 $22,109,200 $3,890,800 $26,000,000 $117 $50 2012 2003 3 204
Hi Line Apartments 1551 Oak Lawn Dallas 343,060 214,489 1.60 $35,318,250 $3,217,340 $38,535,590 $112 $15 2012 2008 4 355
Cityville at Fitzhugh 2819 N. Fitzhugh Dallas 186,359 155,596 1.20 $17,866,180 $2,333,820 $20,200,000 $108 $15 2012 2004 3 222
Lofts at Las Colinas 1000 Lake Carolyn Irving 363,624 234,658 1.55 $35,643,420 $2,346,580 $37,990,000 $104 $10 2012 2003 4 341
Legacy Apartments - UDR 7008 Bishop Plano 312,593 200,986 1.56 $29,690,456 $2,411,830 $32,102,286 $103 $12 2012 2005
Galatyn Urban Center 2301 Performance Richardson 364,798 195,236 1.87 $35,928,580 $1,171,420 $37,100,000 $102 $6 2012 2007 4 278
Easton 2525 Henderson Dallas 128,630 129,198 1.00 $10,486,040 $2,583,960 $13,070,000 $102 $20 2012 2003 3 150
Pavilion Townplace 7700 W. Greenway Dallas 327,016 446,555 0.73 $19,294,350 $13,465,650 $32,760,000 $100 $30 2012 2001 3 273
Alta Cobb Hill 6000 Eldorado Frisco 360,589 1,001,401 0.36 $29,168,673 $6,008,405 $35,177,078 $98 $6 2012 2008 4 340
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 52
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
Legacy Apartments - North 7560 Bishop Plano 328,176 295,772 1.11 $30,144,140 $1,774,634 $31,918,774 $97 $6 2012 2007
The Mission at La Villita - Ph 2 6714 Deseo Irving 161,973 253,911 0.64 $14,384,360 $1,015,640 $15,400,000 $95 $4 2012 2006 3 159
Cityville at Live Oak 4207 Live Oak Dallas 200,466 174,981 1.15 $17,250,200 $1,749,800 $19,000,000 $95 $10 2012 2003 3 239
Jefferson at Park Central 11903 Coit Dallas 540,919 603,524 0.90 $34,515,420 $14,484,580 $49,000,000 $91 $24 2012 1999 3 764
Northbridge at the Village 8603 Southwestern Dallas 355,524 715,125 0.50 $21,259,020 $10,726,880 $31,985,900 $90 $15 2012 1999 3 392
Canal Side Lofts 350 E. Las Colinas Irving 324,749 216,650 1.50 $25,833,330 $2,166,670 $28,000,000 $86 $10 2012 2005 306
Granite Cross Creek 2701 Grapevine Mills Grapevine 371,070 1,496,035 0.25 $28,583,921 $3,366,079 $31,950,000 $86 $2 2012 1999
Jefferson at Bryan Place 2801 Live Oak Dallas 322,533 182,255 1.77 $23,108,870 $3,645,100 $26,753,970 $83 $20 2012 2002 4 302
Monterra 301 W. Las Colinas Irving 318,005 286,407 1.11 $23,135,930 $2,864,070 $26,000,000 $82 $10 2012 2006 4 282
Bella Casita 851 Lake Carolyn Irving 276,758 233,307 1.19 $19,916,930 $2,333,070 $22,250,000 $80 $10 2012 2006 4 268
Hi Line Apartments 1900 Hi Line Dallas 341,000 160,605 2.12 $24,515,920 $2,409,080 $26,925,000 $79 $15 2012 2008 4 214
La Villita Phase 1 6504 Deseo Irving 183,274 186,175 0.98 $12,555,300 $744,700 $13,300,000 $73 $4 2012 2004 3 129
1520 N. Beckley 428,759 713,940 0.60 $19,600,600 $7,139,400 $26,740,000 $62 $10 2001 3 338
1401 N. Zang 290,902 605,528 0.48 $16,509,330 $6,055,280 $22,564,610 $78 $10 2003 3 336
Grand Estates at Kessler Park Dallas 719,661 1,319,468 0.55 $36,109,930 $13,194,680 $49,304,610 $69 $10 2012 2003 4 674
Mandalay on the Lake 620 Lake Carolyn Irving 463,152 320,645 1.44 $27,793,550 $3,206,450 $31,000,000 $67 $10 2012 2004 3 366
Parks of Austin Ranch Windhaven The Colony 576,720 1,061,034 0.54 $29,933,796 $6,366,204 $36,300,000 $63 $6 2012 1999 484
Jefferson at University 4400 W. University Dallas 482,441 458,600 1.05 $24,525,000 $4,586,000 $29,111,000 $60 $10 2012 2000 3 410
Mansions of Prosper 980 S. Coit Prosper 272,584 845,086 0.32 $12,883,057 $3,380,343 $16,263,400 $60 $4 2012 2008 2 308
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 53
To: Mayor and Town Council
From: Lyle H. Dresher, Interim Town Manager
Re: Town Council Meeting – January 22, 2013
Date: January 16, 2013
Agenda Item:
Consider and act upon Ordinance No. 13-04 designating a Tax Increment Financing Reinvestment
Zone, Number Two, for Town of Prosper.
Purpose:
In accordance with the provisions of the Tax Increment Financing Act, Chapter 311 of the Texas
Tax Code and the Town’s desire to promote economic development and redevelopment within the
Town of Prosper, the Town Council must conduct a public hearing to receive input and comment
on the proposed creation of the reinvestment zone. If established/created, the subsequent
ordinance provides for a detailed boundary of the zone; creates a board of directors for the
investments related to the zone and outlines the economic incentives used to incentivize the
zone’s development.
Description of Agenda Item:
An approximate 157-acre tract of land generally located at the northwestern quadrant of Highway
380 and the North Texas Tollway, more specifically described in Exhibit “A” of the Ordinance.
Budget Impact:
TOWN REVENUES (GENERATED ONLY FROM WITHIN THE ZONE) AND CONTRIBTED TO
TAX INCREMENT FUND
• 70% of real property ad valorem taxes in the Zone
• 100% of real property ad valorem taxes in the Zone attributable to “rollback” taxes
• 25% of municipal sales tax generated in the Zone
• 50% of the one-half of one percent (0.5%) municipal sales and use tax imposed pursuant to
the Development Corporation Act on behalf of the Prosper Economic Development
Corporation and generated within the Zone
• Up to 50% of Collin County’s ad valorem taxes in the Zone or a lesser participation, if any
• 380 Construction Sales Office Revenue
TERM OF ZONE. 25 Years
On December 31, 2012, the Town Council approved by Contract 511 a Development and
Financing Agreement with MSW Prosper 380, LP, outlines in considerable detail the development
Prosper is a place where everyone matters.
Administration
intended to be created within the Zone included but not limited to public and private infrastructure;
private development; and timelines related thereto. The Project and Financing Plan attached as an
Exhibit to this Ordinance provides detailed accounting and verification of the economic benefit(s)
associated with the creation of the Zone and the associated dedicated tax revenues from the Town
to fund the public-private partnership.
Legal Obligations and Review:
Attorney Pete Smith drafted the attached ordinance. Town staff has notified the public hearing as
required by state law.
Attached Documents:
Ordinance No. 13-04 with exhibits
Town Staff Recommendation:
Town staff recommends the Town Council approve Ordinance No. 13-04 designating a Tax
Increment Financing Reinvestment Zone, Number Two, for Town of Prosper.
1
TOWN OF PROSPER ORDINANCE NO. 13-04
AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS DESIGNATING A
CERTAIN AREA WITHIN THE TOWN OF PROSPER, TEXAS, AS TAX INCREMENT
FINANCING REINVESTMENT ZONE NUMBER TWO, TOWN OF PROSPER, TEXAS,
TO BE IDENTIFIED AS REINVESTMENT ZONE NUMBER TWO, TOWN OF
PROSPER, TEXAS; ESTABLISHING THE BOUNDARIES OF SUCH ZONE;
CREATING A BOARD OF DIRECTORS FOR SAID REINVESTMENT ZONE AND
OTHER MATTERS RELATED THERETO; CONTAINING FINDINGS; PROVIDING A
REPEALING CLAUSE; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the Town Council desires to promote the development or redevelopment of
a certain geographic area within its jurisdiction by the designation of a reinvestment zone, as
authorized by the Tax Increment Financing Act, Chapter 311 of the Texas Tax Code (the “Act”);
and
WHEREAS, in compliance with the Act, the Town called a public hearing to receive
comments on the designation of the proposed reinvestment zone and its benefits to the Town and
the property in the proposed reinvestment zone; and
WHEREAS, in compliance with the Act, notice of the public hearing was published in a
daily newspaper of general circulation in the Town, such publication date being not later than
seven (7) days prior to the date of the public hearing; and
WHEREAS, such hearing was convened at the time and place mentioned in the
published notice, to-wit, on the 22nd day of January, 2013, at 6:00 p.m., at the Town Municipal
Chambers in the Town of Prosper, Texas, which hearing was then closed; and
WHEREAS, the Town, at such hearing, invited any interested person, or the person's
representative, to appear and speak for or against the designation of the proposed reinvestment
zone, the boundaries of the proposed reinvestment zone, as described in Exhibit "A" attached
hereto and as depicted in the map attached hereto as Exhibit "B", whether all or part of the
territory described in Exhibit "A" and as depicted in Exhibit "B" should be included in such
proposed reinvestment zone, the concept of tax increment financing, and the appointment of a
board of directors for the proposed reinvestment zone; and
WHEREAS, all owners of property located within the proposed reinvestment zone and
other interested persons were given the opportunity at such public hearing to protest the
designation of the proposed reinvestment zone; and
WHEREAS, the Town has prepared a preliminary project and reinvestment zone
financing plan attached hereto as Exhibit "C".
2
NOW THEREFORE BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN
OF PROSPER, TEXAS:
SECTION 1. That the facts and recitations contained in the preamble of this Ordinance
are hereby found and declared to be true and correct.
SECTION 2. That the Town Council, after conducting such public hearing and having
heard such evidence and testimony has made the following findings and determinations based on
the evidence and testimony presented to it:
(a) That the public hearing on adoption of the reinvestment zone has been properly
called, held and conducted and that notice of such hearing has been published as
required by law.
(b) That designation of the proposed reinvestment zone with boundaries as described
in Exhibit "A" and as depicted in Exhibit "B" will result in benefits to the Town,
its residents and property owners, in general, and to the property, residents and
property owners in the proposed reinvestment zone.
(c) That the proposed reinvestment zone, as defined in Exhibit "A" and as depicted in
Exhibit "B", meets the criteria for the designation of a reinvestment zone as set
forth in the Act in that it is located wholly within the corporate limits of the Town
and meets the requirements of Tax Code, Section 311.005.
(d) That the total appraised value of all taxable real property in the proposed
reinvestment zone according to the most recent appraisal roll of the Town,
together with the total appraised value of taxable real property in all other existing
reinvestment zones within the Town, according to the most recent appraisal roll of
the Town, does not exceed fifty percent (50%) of the current total taxable value of
taxable real property in the Town and in the industrial districts created by the
Town, if any.
(e) That the proposed improvements in the reinvestment zone will significantly
enhance the value of all taxable real property in the reinvestment zone and will be
of general benefit to the Town.
(f) That the development or redevelopment of the property in the proposed
reinvestment zone will not occur solely through private investment in the
reasonably foreseeable future.
(g) That thirty percent (30%) or less of the property in the proposed reinvestment
zone, excluding property dedicated to public use, is currently used for residential
purposes.
3
(h) That the proposed reinvestment zone is predominantly open or undeveloped and,
because of obsolete platting, deterioration of structures or site improvements, or
other factors, substantially impair or arrest the sound growth of the municipality
or county.
(i) That the proposed reinvestment zone substantially arrests or impairs the sound
growth of the Town, retards the provision of housing accommodations, or
constitutes an economic or social liability and is a menace to the public health,
safety, morals, or welfare in its present condition and use because of the presence
of:
(1) the predominance of defective or inadequate sidewalk or street layout; and
(2) faulty lot layout in relation to size, adequacy, accessibility, or usefulness.
SECTION 3. That the Town hereby designates a tax increment financing reinvestment
zone over the area described in Exhibit "A" attached hereto and as depicted in the map attached
as Exhibit "B", and such tax increment financing reinvestment zone shall hereafter be identified
as Reinvestment Zone Number Two, Town of Prosper, Texas (hereinafter sometimes referred to
herein as the “Zone”).
SECTION 4. That there is hereby established a board of directors for Reinvestment
Zone No. Two, Town of Prosper, Texas which shall consist of at least five (5), but not more than
fifteen (15), members, unless more members are required to be appointed to satisfy the
requirements of Section 311.009, Tax Code. The members of the Board of Directors of the Zone
shall be appointed as follows:
(a) The Town shall be entitled to appoint a minimum of three (3) and a maximum of
ten (10) members of the Board of Directors, except that if there are fewer than
five (5) directors appointed by taxing units other than the Town, the Town
Council may appoint more than ten (10) members as long as the total membership
of the Board of Directors does not exceed fifteen (15) members. The Board of
Directors shall consist of numbered positions with positions 1-7 reserved for
appointment by the Town Council.
(b) Each taxing unit, other than the Town, that levies taxes on real property in the
Zone may appoint one member of the Board of Directors if the taxing unit has
approved the payment of all or part of the tax increment produced by such taxing
4
unit into the tax increment fund for the Zone. A taxing unit eligible to appoint a
member to the Board of Directors may waive such right. If a taxing unit waives its
right to appoint a member of the board, the Town may appoint a member to the
Board of Directors to such position. The governing body of each taxing unit, other
than the Town, eligible to appoint a member to the Board of Directors shall
appoint such member within sixty (60) days after such taxing unit has entered into
an agreement with the Town for payment of all or part of the tax increment
produced by such taxing unit into the tax increment fund for the Zone. Failure of
such taxing unit to appoint a director within such sixty (60) day period shall be
deemed a waiver of the right to appoint a director, and the Town Council shall be
entitled to appoint a person to such position.
(c) The Town Council shall appoint additional member(s) in order to maintain a
board of at least five (5) members. A vacancy on the Board of Directors shall be
filled as set forth in the Act. Positions one through three on the Board of Directors
are reserved for the Town. The remaining positions are reserved for other taxing
units that levy real property taxes in the Zone and if the taxing unit has approved
the payment of all or part of the tax increment produced by such taxing unit into
the tax increment fund for the Zone. The directors appointed by taxing units other
than the Town shall be assigned a Board position in the order that the Town
receives the appointment. All members appointed to the Board of Directors shall
meet eligibility requirements as set forth in the Act.
(d) The terms of office for members of the Board of Directors shall be for two (2)
years. Each year the Town Council shall designate a member of the Board of
Directors to serve as Chairperson of the Board of Directors. The Chairperson shall
serve a term of office of one year that runs from January 1 through and including
December 31 of the calendar year. The Board of Directors shall elect from its
members a Vice-Chairperson and other officers, as it deems appropriate.
(e) The Board of Directors shall make recommendations to the Town Council
concerning the administration of the Zone. It shall prepare and adopt a project
plan and the reinvestment zone financing plan for the Zone, and must submit such
plans to the Town Council for its approval. The Town Council delegates to the
Board of Directors all powers necessary to prepare and implement the project and
the reinvestment zone financing plans for the Zone, including any required annual
reports on the status of the Zone, all subject to the prior approval of the Town
Council.
(f) The Town Council hereby appoints the Mayor and Town Council Members Places
1-6 to Board of Directors positions assigned positions 1-7, respectively. The term
of each such Director shall be concurrent with his or her term of office on the
Town Council. If the Mayor or a member of the Town Council shall ever be
removed, whether voluntarily or involuntarily, that Town Council Member shall
cease to serve as a Director of the Zone. The Town Council hereby designates the
Mayor as the Chairman of Board of Directors effective immediately, and to serve
5
as the Chairman of the Board of Directors on annual basis each calendar year
thereafter, unless and until the Town Council designates a Town Council Member
other than the Mayor to serve as the Chairman of the Board of Directors.
SECTION 5. That the Zone shall take effect on adoption of this Ordinance, and the
termination of the Zone shall occur on December 31, 2037, or at an earlier time designated by
subsequent ordinance of the Town Council, or at such time, subsequent to the issuance of any tax
increment bonds, if any, that all project costs, tax increment bonds, notes or other obligations of
the Zone, and the interest thereon, if any, have been paid in full.
SECTION 6. That the tax increment base for the Zone, which is the total taxable value
of all taxable real property located in the Zone, is to be determined as of January 1, 2013, the year
in which the Zone was designated as a tax increment financing reinvestment zone (the "Tax
Increment Base"). Tax Increment Base means the total taxable value of all real property taxable
by a taxing unit and located in the Zone for the 2013 year. “Tax Increment” means the total
amount of real property taxes by a taxing unit for the year on the Captured Appraised Value of
real property taxable by a taxing unit and located in the Zone. The “Captured Appraised Value”
means the total taxable value of all real property taxable by a taxing unit and located in the Zone
for the year, less the Tax Increment Base of the taxing unit. For purposes of this Ordinance
“Sales and Use Tax” shall mean the Town’s one percent (1%) sales and use tax imposed pursuant
to Chapter 321, Tax Code, on the sale of Taxable Items in the Zone. Sales and Use Tax does not
include any additional sales and use tax imposed by the Town for any purpose, including one-
half of one percent (0.5%) sales and use tax imposed by the Town pursuant to the Development
Corporation Act of 1979, Chapters 501-501, Texas Local Government Code, on behalf of the
Prosper Economic Development Corporation, and the one-half of one percent (0.5%) Sales and
Use Tax imposed by the Town for property tax reduction. For purposes of this Ordinance “Sales
6
Tax Base” shall mean the amount of municipal Sales and Use Taxes attributable to the zone for
the 2013 year, the year in which the Zone is designated. For purposes of this Ordinance “Sales
Tax Increment” shall mean the amount of Sales and Use Taxes collected by the Town above the
Sales Tax Base. For purposes of this Ordinance “Taxing Unit” means the Town and any other
political subdivision or special district that taxes real property within the Zone that enters into an
agreement with the Town for the payment of all or part of the tax increment produced by such
other taxing unit into the Tax Increment Fund for the Zone.
SECTION 7. That there is hereby created and established a Tax Increment Fund for the
Zone which may be divided into such sub-accounts as may be required, into which all Tax
Increments and Sales Tax Increment, less any of the amounts not required to be paid into the Tax
Increment Fund pursuant to the Act, are to be deposited. All Tax Increments and Sales Tax
Increments as defined herein shall be deposited in the Tax Increment Fund. The Tax Increment
Fund and any sub-accounts are to be maintained at the depository bank of the Town and shall be
secured in the manner prescribed by law for funds of the Town. In addition, all revenues from the
sale of any tax increment bonds, notes or certificates of obligation, hereafter issued by the Town;
revenues from the sale of any property acquired as part of the Zone financing plan; and any other
revenues to be dedicated to and used in the Zone shall be deposited into the Tax Increment Fund
or sub-account from which money will be disbursed to pay project costs for the Zone or to satisfy
the claims of holders of tax increment bonds, notes or certificates of obligations issued for the
Zone.
SECTION 8. That the Town will participate in the Zone by contributing to the Tax
Increment Fund for a period of twenty-five (25) years: (i) seventy percent (70%) of the Town's
Tax Increment from real property ad valorem taxes in the Zone (excluding “rollback” taxes
7
assessed and collected by the Town; (ii) one hundred percent (100%) of the Town’s Tax
Increment from real property ad valorem taxes in the Zone attributable solely to “rollback” taxes;
(iii) twenty-five percent (25%) of the Town’s Sales Tax Increment to the Tax Increment Fund.
The Town will also contribute fifty percent (50%) of the one-half of one percent (0.5%) sales and
use tax imposed pursuant to the Development Corporation Act, Chapters 501-505, Texas Local
Government Code, on behalf of the Prosper Economic Development Corporation (“PEDC”), to
be paid to the Town by the PEDC pursuant to that certain PEDC Infrastructure Reimbursement
Agreement by and between the PEDC and the Town.
SECTION 9. That all ordinances of the Town of Prosper, Texas, in conflict with the
provisions of this Ordinance be, and the same are hereby, repealed; provided, however that all
other provisions of said ordinances not in conflict with the provisions of this Ordinance shall
remain in full force and effect.
SECTION 10. That if any section, paragraph, clause or provision of this Ordinance shall
for any reason be held invalid or unenforceable, the invalidity or unenforceability of such section,
paragraph, clause, or provision shall not affect any of the remaining provisions of this Ordinance.
SECTION 11. That the Town Manager is hereby authorized to execute any contracts or
other agreements with any taxing units that elect to enter into an agreement with the Town for
payment of all or part of the tax increment produced by such other taxing unit into the Tax
Increment Fund for the Zone.
SECTION 12. This Ordinance shall take effect upon its passage as the law and charter in
such cases provide.
8
DULY PASSED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS, ON THE 22nd DAY OF JANUARY, 2013.
APPROVED:
RAY SMITH
MAYOR
CORRECTLY ENROLLED:
AMY PIUKANA, TRMC
TOWN SECRETARY
APPROVED AS TO FORM:
_____________________________
TOWN ATTORNEY
(PGS:1-1-13:57851)
Exhibit “A”
(Legal Description of the Zone)
9
LEGAL DESCRIPTION – 127.289 ACRES
BEING a parcel of land located in the Town of Prosper, Collin County, Texas, a part of the
Collin County School Land Survey No. 12, Abstract Number 147, and being a part of a tract of
land described in a deed to M.A.H.G. Partnership as recorded in Document Number
20100601000545080, Collin County Deed Records, and being further described as follows:
BEGINNING at a one-half inch iron rod found at the southeast corner of said M.A.H.G.
Partnership tract of land, said point being the intersection of the west right-of-way line of the
Dallas North Tollway (a variable width right-of-way) with the north right-of-way line of U. S.
Highway 380 (a variable width right-of-way);
THENCE along the north right-of-way line of U. S. Highway 380 as follows:
South 89 degrees 58 minutes 56 seconds West, 737.62 feet to a highway monument
found for corner;
North 87 degrees 12 minutes 21 seconds West, 100.05 feet to a highway monument
found for corner;
North 89 degrees 58 minutes 51 seconds West, 577.36 feet to a one-half inch iron rod
found at the most southerly southwest corner of said M.A.H.G. Partnership tract of land, said
point being the southeast corner of a tract of land described in a deed to F.L. Partners, Ltd. as
recorded in Document Number 20111216001360700, Collin County Deed Records;
THENCE North 00 degrees 10 minutes 18 seconds East, 1582.40 feet to a one-inch iron pipe
found at the northeast corner of said F.L. Partners, Ltd. tract of land;
THENCE South 89 degrees 43 minutes 30 seconds West, 927.35 feet to a one-inch iron pipe
found at the most northerly southwest corner of said M.A.H.G. Partnership tract of land, said
point being the northwest corner of a tract of land described in a deed to Y-C Nurseries, Inc. as
recorded in Volume 4917, Page 2974, Collin County Deed Records, said point being in the east
line of a tract of land described in a deed to 110 Prosper Property, L.P. as recorded in Document
Number 20091221001521410, Collin County Deed Records;
THENCE along the west line of said M.A.H.G. Partnership tract of land and along the east line
of said 110 Prosper Property, L.P. tract of land as follows:
North 00 degrees 23 minutes 24 seconds East, 638.49 feet to a one inch iron pipe
found for corner;
North 00 degrees 27 minutes 38 seconds East, 335.80 feet to a one-half inch iron
rod found for corner;
North 89 degrees 28 minutes 46 seconds West, 38.28 feet a one-half inch iron rod
found for corner;
North 00 degrees 00 minutes 43 seconds West, 695.33 feet to a one-half inch iron
rod set for corner;
Exhibit “A”
(Legal Description of the Zone)
10
THENCE North 89 degrees 22 minutes 23 seconds East, 1352.30 feet to a one-half inch iron rod
set for corner in the east line of said M.A.H.G. Partnership tract of land, said point being in the
west line of a tract of land described in a deed to Southern Star Concrete, Inc. as recorded in
Volume 5468, Page 5436, Collin County Deed Records;
THENCE along the east line of said M.A.H.G. Partnership tract of land as follows:
South 00 degrees 34 minutes 52 seconds East, 51.73 feet to a one-half inch iron rod
found at the southwest corner of said Southern Star Concrete, Inc. tract of land, said point being
the northwest corner of a tract of land described in a deed to Lattimore Materials Company, L.P.
as recorded in Volume 5380, Page 5848, Collin Deed Records Collin County;
South 00 degrees 31 minutes 42 seconds East, 651.92 feet to a one-half inch iron rod
found for the southwest corner of said Lattimore Materials Company, L.P;
North 89 degrees 39 minutes 24 seconds East, 1117.44 feet along the south line of
said Lattimore Materials Company, L.P. to a one-half inch iron rod found in the west right-of-
way line of the Dallas North Tollway (a variable width right-of-way);
THENCE along the west right-of-way line of the Dallas North Tollway as follows:
South 04 degrees 37 minutes 34 seconds West, 705.31 feet to a one-half inch iron rod
found for corner;
Southwesterly, 507.85 feet a curve to the left having a central angle of 02 degrees 30
minutes 00 seconds, a radius of 11,639.16 feet, a tangent of 253.97 feet, and whose chord bears
South 03 degrees 19 minutes 26 seconds West, 507.81 feet to a one-half inch iron rod found for
corner;
South 02 degrees 04 minutes 26 seconds West, 587.13 feet to a one-half inch iron rod
found for corner;
Southwesterly, 250.65 feet along a curve to the left having a central angle of 02
degrees 30 minutes 00 seconds, a radius of 5744.58 feet, a tangent of 125.34 feet, and whose
chord bears South 00 degrees 49 minutes 26 seconds West, 250.63 feet to a one-half inch iron
rod set for corner;
South 00 degrees 25 minutes 34 seconds East, 523.30 feet to the POINT OF BEGINNING and
containing 5,544,727 square feet or 127.289 acres of land.
Exhibit “A”
(Legal Description of the Zone)
11
LEGAL DESCRIPTION – 30 ACRES
Exhibit “B”
(Map Depiction of the Zone)
12
13
Exhibit “C”
(Preliminary Project and Reinvestment Zone Financing Plan)
SteinPlanning, LLC
Project Plan and Financing Plan
for
Prosper Tax Increment Financing
Reinvestment Zone
Number Two
Prepared January 2013
by
for
Town of Prosper, Texas
(Program for Tax Increment Financing)
MSW Prosper 380, L.P.
and the
Contents
Page
Section 1: Objectives: 1
Section 2: What Is Tax Increment Financing? 1
Section 3: Reinvestment Zone Description 3
Section 4: Development with Tax Increment Financing 6
Section 5: Financing TIF Project Costs 11
Section 6: Net New Revenue for Prosper, Collin County and the Prosper
Independent School District 14
Exhibits
Page
Exhibit A: Real Property Tax Flow with Tax Increment Financing 2
Exhibit B: Prosper TIF Reinvestment Zone Number Two (Prosper West) with
Existing Uses and Conditions 4
Exhibit C: Proposed Uses of TIF Reinvestment Zone Number Two 7
Exhibit D: Proposed Roadways and Parking Structures in and around TIF
Reinvestment Zone Number Two 8
Exhibit E: Proposed Water Distribution System in and around TIF Reinvestment
Zone Number Two 9
Exhibit F: Proposed Wastewater Collection System in and around TIF
Reinvestment Zone Number Two 10
Schedules
Page
Schedule 1: 2012 Base Value of the TIRZ 15
Schedule 2: Annual Development and Taxable Value Forecasts for the
TIRZ, in 2012 Dollars 16
Schedule 3: Summary of Estimated TIRZ Project Costs and Nonproject
Costs 17
Schedule 4: Forecast of Taxable Property and Town Property Taxes from
the TIRZ 18
Schedule 5: Forecast of Taxable Property and County Property Taxes
from the TIRZ 19
Schedule 6: Forecast of Real Property Tax Increments to t he TIRZ Fund 20
Schedule 7: Forecast of Taxable Sales from Stores, Hotels and Cinemas
in the TIRZ, in 2012 Dollars 21
Schedule 8: Forecast Hotel Sales, Town Hotel Occupancy Tax and Hotel
Sales Subject to Sales Tax 22
Schedule 9: Forecast of Total Municipal Sales Tax Generated in the TIRZ 23
Schedule 10: Town of Prosper General Sales Tax for the TIRZ Fund 24
Schedule 11: Forecast of Prosper EDC 4A Sales Tax Grants for Prosper
West Infrastructure 25
Schedule 12: Prospective Cash Flow for Prosper West Infrastructure from
All Local Public Sources 26
Schedule 13: Tax from Prosper West Retained for Prosper General Fund
and Prosper EDC 27
Schedule 14: Tax from Prosper West Retained for Collin County 28
Schedule 15: Forecast of Prosper ISD Taxes from the TIRZ 29
Appendices
Page
Appendix A: Road Improvement Details 30
Appendix B: Other Site Improvement Details 44
Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth
Metropolitan Area 46
Disclaimer
Neither this report nor its conclusion may be referred to or included in any product or
part of any offering made in connection with private syndication of equity, sales of
bonds, sales of securities or sale of participation interests to the public without express
written consent of Stein Planning, LLC.
Section 1:
Objectives
Objectives of Prosper Tax Increment Financing Reinvestment Zone Number Two
(“the TIRZ”) are economic and qualitative benefits for the Town of Prosper and
Collin County. The Town has concluded that development of an area known as
Prosper West, northwest of the intersection of the Dallas North Tollway and
University Drive (U.S. Highway 380) in general accord with a plan proposed by
MSW Prosper 380, L.P., a limited partnership, will promote economic growth and
quality of life for Town residents. The Town concludes, moreover, that this TIRZ
is an appropriate tool to facilitate timely development of streets and other public
improvements that are necessary and desirable for proper development of
Prosper West.
Section 2:
What Is Tax Increment Financing?
Tax increment financing (“TIF”) is a tool local governments in Texas have used
since 1986 to finance public improvements within defined areas that have unique
challenges or opportunities for economic development. Statutory law regarding
TIF for municipalities is found in Chapter 311 of the Texas Tax Code (the “Act”).
Improvements facilitated by tax increment financing should attract investment
and improve communities.
A municipality or county may make an area eligible for tax increment financing by
designating a TIRZ. “TIRZ” and “TIF zone” are interchangeable names used in
Texas for a tax increment financing reinvestment zone. Every TIRZ is
designated with a finite term of existence. Real property taxes on the value of
the TIRZ in its year of designation (its “base year”) continue to flow to the general
funds of the relevant taxing unit, but, for the duration of the TIRZ and for local
taxing entities that choose to participate in a TIRZ program, all or part of the tax
on real property value in the TIRZ in excess of the TIRZ base value flows to a tax
increment financing fund (“TIRZ fund”).
Money flowing to the TIRZ fund is disbursed according to one or more
development agreements. These will be contracts between the Town of Prosper
and a developer. A development agreement must accord with a TIRZ project
plan and financing plan (“TIRZ plan”) approved by the Town Council subsequent
to a recommendation by a TIRZ Board of Directors (“TIRZ Board”) as prescribed
by the Act. The TIRZ fund may be used only as authorized by State law.
Exhibit A illustrates how rising tax revenue from greater taxable value in a TIRZ
flows with time to a taxing jurisdiction’s general fund and to a TIRZ fund. The
sloped lines depict tax revenue in the zone rising with time. Through tax year
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 1
2037, the Town will deposit to the TIRZ fund 70% of Town tax increments due to
increased taxable real property values within the TIRZ boundary. Collin County
will be asked to invest in the TIRZ 50% of County tax increments due to
increased taxable real property values in the zone for the same term of years.
Real property taxes retained from the TIRZ for the general funds of both the
Town and County will rise sharply upon termination of the TIRZ.
In addition to a major share of its real property tax, Prosper will invest in the TIRZ
fund 25% of its general sales tax collected from the TIRZ for the duration of the
TIRZ. No Town or County taxes or fees except the designated portions of real
property taxes and Town sales tax will flow to the TIRZ fund.
Inclusion of property in a TIRZ does not change the tax rate for any property.
Tax rates in a TIRZ are the same as rates outside the zone and within the same
set of taxing jurisdictions.
Mere designation of a TIRZ is not an entitlement to future tax flow, although it’s a
step in that direction. Only if the Prosper Town Council approves execution of a
development agreement consistent with a TIRZ project plan and financing plan
may cash flow from the TIRZ fund and then only in accord with terms of a
development agreement. A TIRZ Board for Zone Number Two must make a
recommendation to the Town Council prior to Council approval of a development
agreement for TIRZ Two.
Exhibit A:
Real Property Tax Flow with Tax Increment Financing
This exhibit illustrates a general concept. It is not scaled to reflect magnitudes of annual tax
increases or exact proportions of flow to the TIRZ fund versus the general fund.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 2
Section 3:
Reinvestment Zone Description
Exhibit B is a map of Prosper TIRZ Number Two, showing existing uses and
conditions. The zone includes 157.289 acres plus adjacent public rights-of-way.
All taxable land in the Zone was used for grazing in 2012. The zone is two non-
contiguous parcels. The eastern parcel of 127.289 acres was owned by MAHG
Partnership in 2012. The western parcel of 30 acres was owned by 110 Prosper
Property, LP. MSW Prosper 380, L.P. has a contract option to purchase both
parcels. Zone boundaries that follow public rights-of-way extend from the center
of the TIF zone to the far sides of such rights-of-way or to the City limit,
whichever is nearer to the center of the reinvestment zone.
Situated at the northwest intersection of the Dallas North Tollway and University
Drive (U.S. 380), the reinvestment site is a convenient and logical site for
regional commercial activity and high density. The north side of University Drive
is in the Town of Prosper. The south side is in the City of Frisco. With a
commitment to timely investments in public infrastructure at this site, the Town
anticipates that the TIRZ area will capture development and a taxes that might
otherwise occur later, if at all, or in other municipalities or counties and that the
development that occurs in the zone and vicinity will be of better quality because
of the site layout and infrastructure.
The absence of streets and walks, positive drainage, water and sewer lines and
franchise utilities in the TIRZ area impairs sound growth of this part of the Town
and Collin County. The zone meets other statutory tests for designating a TIRZ
in that:
(1) None of the land in the zone (infinitely less than the 30% allowed by
statute law) is currently used for residential purposes;
(2) The total appraised value of real property in the zone liable for taxation
in 2012 was $29,413. Together with other reinvestment zones and
industrial districts in the Town, the total appraised value of taxable real
property in such zones was far less than the statutory maximum of
50%. Real property accounts in the TIRZ and 2012 base values are
identified in Schedule 1.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 3
Exhibit B:
Prosper TIF Reinvestment Zone Number Two
(Prosper West) with Existing Uses and Conditions
(August 2012)
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 4
Section 4:
Development with Tax Increment Financing
Private Development
Exhibit C is a map showing the layout of proposed uses in the TIRZ. Some
adjustments in response to changing market demand may be required over the
several years before the TIRZ is fully developed. Schedule 2 quantifies gross
floor areas planned for various uses of the land. Prospective developer MSW
380, L.P. plans approximately 3.4 million square feet of floor area in the total
TIRZ when fully developed. About 46% of that floor area will be residential space,
25% will be office space and the balance will be retail, hotel and theater space.
TIRZ Project Costs and Nonproject Costs
Exhibits D, E and F map major improvements to public infrastructure in and
around the TIRZ. Exhibit D shows roadway improvements, E shows water
distribution improvements and F shows wastewater collection improvements.
Estimated costs of these and other public improvements associated with
development of the TIRZ are summarized in Schedule 3. Schedule 3 separates
public improvement costs according to TIRZ project costs intended for
reimbursement with either tax increments collected by the TIRZ fund or grants
from the Prosper Economic Development Corporation and nonproject costs, to
be paid by the developer. The estimated project cost from Schedule 3 is $27.5
million plus Town expenses to administer the TIRZ program (estimated present
value of $916,303) plus infrastructure financing costs at 3.5% per year for cash
advances. Detailed estimates of road and other infrastructure costs are in
Appendices A and B of this plan document.
Taxable Value
Developed according to the plan and time schedule in the upper part of Schedule
2, annual taxable values of property in the TIRZ are forecast in the balance of the
same schedule. Taxable real property is forecast at $192 million after ten years
(January 2022) and $417 million at ultimate buildout, (estimated January 2029).
These forecast values, like the project cost estimates, are expressed in 2012
dollars, before adjustment for probable inflation.
The taxable appraised value estimates in Schedule 2 are by Stein Planning, LLC.
These estimates of value for tax purposes are based on the developer’s
anticipated development program and taxable values assigned by appraisal
districts to comparable properties in the metropolitan area. Appendix C of this
document presents actual appraisals of comparable properties by county
appraisal districts. Development costs, sale prices and appraisals for tax
purposes may differ significantly.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 5
Taxable Development and Public Infrastructure Nexus
The proposed development cannot happen without costly public infrastructure
improvements. Construction of a well-designed and well-built network of streets,
walkways, utilities and public amenities that attracts employment and a strong
local tax base will benefit Prosper and Collin County. Consequently, the Town
intends that a TIRZ fund for Zone Two will reimburse and pay debt service for the
TIRZ project costs identified in Schedule 3 and detailed in Appendices A and B.
Listed TIRZ project items and their estimated costs will be reviewed periodically
by the TIRZ Board and may be modified upon Board recommendation and Town
Council approval.
Texas law requires that a TIF project plan must identify proposed changes of
zoning ordinances, the master plan of the municipality, building codes, other
municipal ordinances and subdivision rules and regulations, if any, of the county,
if applicable. No such changes are currently proposed, but future proposals for
changes are possible. With adequate infrastructure, it’s legally possible to build
all the uses and densities programmed in Schedule 2 with existing Town of
Prosper PD-41 and PD-48 zoning.
No residents will be displaced by the development currently anticipated by the
TIRZ plan. There are no residents at present within the zone.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 6
Exhibit C:
Proposed Uses of TIF Reinvestment Zone
Number Two
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 7
Exhibit D:
Proposed Roadways and Parking Structures in
and around TIF Reinvestment Zone Number Two
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 8
Exhibit E:
Proposed Water Distribution System in and
around TIF Reinvestment Zone Number Two
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 9
Exhibit F:
Proposed Wastewater Collection System in and
around TIF Reinvestment Zone Number Two
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 10
Section 5:
Financing TIF Project Costs
Revenue for TIRZ Project Costs
Based on the development and taxable value assumptions for TIRZ Number Two
(from Schedule 2), Schedules 4 and 5 are forecasts of annual and cumulative
cash generated by property tax within the TIRZ during the TIRZ term of thirty-
three years and beyond to a total of forty years. Part of the real property tax
generated within the TIRZ will be dedicated to the TIRZ fund for its duration. No
business personal property tax will flow to the TIRZ fund.
Annual real property tax receipts dedicated to the TIRZ fund are forecast in
Schedule 6. That schedule assumes the Town of Prosper pledges 70% of the
real property tax increment to the fund for tax years 2013 through 2037 and that
Collin County pledges 50% of real property tax increments for the same term.
(The duration of the TIRZ runs from its date of designation by the Town Council
through December 31, 2037. Designated shares of tax increments levied in
calendar 2037 flow to the TIRZ fund, even if collected in a subsequent year.)
Although not calculated on Schedule 6, Prosper pledges to the TIRZ fund the
incremental tax collected from the five-year “rollback” of taxable value due upon
conversion of agricultural land to non-agricultural use. If collected entirely in tax
year 2013 or soon thereafter, the total five-year rollback tax attributed to the
Town alone is expected to approach $500,000, per the calculation at the bottom
of Schedule 1.
In addition to real property tax, the Town of Prosper will commit to the TIRZ fund
for its duration a portion of Town general sales tax earned within the TIRZ.
Annual retail sales and sales taxes earned from the TIRZ for the Town of Prosper
and the Prosper Economic Development Corporation (“PEDC”) are forecast by
Schedules 7, 8 and 9. Schedule 10 is a forecast of Town general sales tax
flowing to the TIRZ fund, based on the Town’s dedication of 25% of general sales
tax.
The PEDC anticipates making grants of part of the 0.5% municipal sales tax for
economic development (“4A sales tax”) to pay costs for public infrastructure
constructed in the TIRZ. A draft agreement calls for a grant of $500,000 from
accumulated 4A tax to pay for public infrastructure. This amount is to be
conveyed to the developer within weeks of designation of the TIRZ. The draft
agreement provides further PEDC obligations that will total $2 million to $3
million for principal expenses, including the original $500,000. (The grant
amount depends on public improvements built at developer expense and taxable
value of the TIRZ by the tenth year of its existence.) PEDC grant payments after
the original $500,000 will be drawn from 4A sales tax earned within the TIRZ and
possibly other 4A sales tax. The anticipated percentage of 4A sales tax earned
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 11
in the TIRZ that is committed to grants for public improvements in the TIRZ is
50% for most years. PEDC grants for infrastructure in the TIRZ will be increased
to add interest on the agreed principal balances not yet reimbursed to the
developer, on a sliding scale from 1.5% simple annual interest, not to exceed
4.5% annual interest. After these grants of $2 million or $3 million to reimburse
public improvement expenses incurred by the developer have been paid with
interest, but not before fifteen years, the PEDC anticipates granting 50% of 4A
sales tax earned from the TIRZ to defray TIRZ project costs during the duration
of the TIRZ. Schedule 11 is a forecast of annual amounts paid by the PEDC for
infrastructure for economic development in the TIRZ.
Anticipated annual dedications to the TIRZ fund by the Town of Prosper and
Collin County and grants by the Prosper Economic Development Corporation for
infrastructure in the TIRZ are listed and totaled in Schedule 12. The combined
total funds available for TIRZ project costs, including principal, carrying costs and
Town administrative expenses for the TIRZ program through the duration of the
TIRZ are forecast as approximately $53 million.
A cash flow spread over decades has significantly less value, however, than the
same cash in a lump sum today, due to the cost of borrowing money or the
opportunity cost of money that earns no interest. When the forecast cash flow to
the TIRZ fund and PEDC grants are discounted to present value at the discount
rate of 3.5% suggested by Town sources, the combined 25-year cash flow has a
present value of approximately $30 million.
Use of Funds for TIRZ Project Costs
With Town Council approval, actual cash flow to the TIRZ fund may be paid as it
becomes available for TIRZ project costs, whether incurred by the Town, a
developer, a lender, or another party. Project costs must be consistent with a
TIRZ project plan and financing plan. A contractual agreement should specify
terms for disbursement of TIRZ funds, including priorities for disbursement of
funds if multiple parties have claims to TIRZ fund revenue.
TIRZ project costs are most commonly paid as reimbursements to developers in
exchange for a developer causing construction of public improvements in accord
with agreed performance standards. Rights to receive cash from a TIRZ fund
may be assigned, with due consent.
Municipalities or counties may recover from a TIRZ fund their own expenses for
duly approved TIRZ project cost items. Town expenses incurred for organization
and administration of the TIF program will have a senior claim on TIF revenue in
every year, to the extent that such expenses are documented and reasonable.
Town administrative expenses accrued but not reimbursed will roll forward to
successive years until paid. Annual Town expenses after the initial years have
been estimated at $45,000 plus inflation.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 12
Prosper contemplates application of part of its TIRZ revenue to debt service on
bonds that may be authorized by the Town, the U.S. Department of Agriculture,
or another government entity to pay for public improvements in the TIRZ or other
expenses that are legitimate uses of TIRZ fund revenue. TIRZ revenue may be
the sole security for bonds or one of multiple revenue streams securing bonds.
Economic Feasibility
A comparison of TIRZ project costs from Schedule 3 and the Schedule 12
forecast of probable cash flow to a TIRZ fund plus PEDC grants for TIRZ
infrastructure implies that it is economically feasible for the TIRZ fund to pay the
estimated 2012-2013 present value of $28.4 million of total TIRZ project costs,
given all the stated assumptions. This conclusion is based on the stream of cash
receipts as forecast through 2038. When the total receipts forecast in Schedule
12 are discounted to 2013 value at an annual discount rate of 3.5%, the 2013
present value of the forecast TIRZ receipts approximates $30 million. This
discounted value is adequate to pay the 2012-2013 present value of TIRZ project
costs ($28.4 million) for principal, administrative expenses and finance costs,
provided the average annual interest on unreimbursed balances is approximately
3.5%.
It’s possible that the TIRZ fund plus PEDC grants may prove sufficient to cover
all TIRZ project costs, including finance costs before 2038 receipts. In the case
that financial obligations of the TIRZ fund are satisfied before the scheduled end
date of the TIRZ, the Town Council may terminate the TIRZ early. If the TIRZ
fund has a cash balance after all its financial obligations have been met, any
residual balance will be prorated to taxing jurisdictions according to their deposits
to the TIRZ fund for the year when fund obligations have been fully discharged.
The anticipated percentage of total receipts for TIRZ project costs that will come
from Town tax increments (real property and sales tax) and Prosper Economic
Development Corporation grants is 83%. County tax increments will account for
17%. These percentages should not be confused with the percentages of annual
incremental real property tax that the Town and County will contribute to the TIF
fund.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 13
Section 6:
Net New Revenue for Prosper, Collin County and
the Prosper Independent School District
Prosper and Collin County will gain and retain significant real property tax earned
within the TIRZ for the full duration of the TIRZ. Beyond these greater tax
volumes related to increased real property value in the zone, Prosper and all
other taxing entities will receive and retain 100% of business personal property
tax related to TIRZ development. Texas law does not authorize business
personal property tax to flow to a TIF fund. Prosper will retain part of the sales
tax earned in the TIRZ. Schedules 13, 14 and 15 forecast taxes from
development in the TIRZ that will be retained by the Town, Collin County and the
Prosper Independent School District, respectively.
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 14
Schedule 1:
2012 Base Value of the TIRZ
Notes:
Base value for the TIRZ will be the taxable value of real property in the zone for the year when the zone is designated. 2012 is assumed.
Land areas are as reported by the Collin Central Appraisal District. Actual areas may vary.
Taxable real property values represent agricultural productivity value.
Appraised values of accounts partly in the TIRZ are prorated according to land area inside the TIRZ.
(a)(b)(c) (d)(e)(f)(g)(h) (i) (j)
Collin CAD Taxable
Account Jan. 1,2012 Owner of Record Acres SF Land Improvements Total Land Per SF Taxable Per SF
967724 M A H G Partnership 92.3000 4,020,588 $11,056,617 $0 $11,056,617 $2.75 $17,260 $0.0043
2602311 M A H G Partnership 50.2120 2,187,235 $6,014,895 $0 $6,014,895 $2.75 $9,390 $0.0043
2602313 M A H G Partnership 46.1230 2,009,118 $5,525,074 $0 $5,525,074 $2.75 $8,625 $0.0043
Subtotal 188.6350 8,216,941 $22,596,586 $0 $22,596,586 $2.75 $35,275 $0.0043
South 127.289 acres, assuming 127.289/188.635 127.2890 5,544,709 $15,247,949 $0 $15,247,949 $2.75 $23,803 $0.0043
Prorated base value of south 127.289 acres
2655207 110 Prosper Property, LP 34.2888 1,493,620 $2,987,240 $0 $2,987,240 $2.00 $6,412 $0.0043
2655209 110 Prosper Property, LP 55.5000 2,417,580 $4,835,160 $0 $4,835,160 $2.00 $10,378 $0.0043
Subtotal 89.7888 3,911,200 $7,822,400 $0 $7,822,400 $2.00 $16,790 $0.0043
South 30 acres, assuming 30/89.7888 30.0000 1,306,800 $2,613,600 $0 $2,613,600 $2.00 $5,610 $0.0043
Prorated base value of south 30 acres
Totals for TIRZ 157.2890 6,851,509 $17,861,549 $0 $17,861,549 $2.61 $29,413 $0.0043
Total base value of the TIRZ
Rollback Tax Estimate, Based on 2012 and Recent Year Values:
2012 difference between Collin CAD "market" value and agricultural value of the TIRZ: $17,832,136
Town of Prosper 2012 tax rate per $100: $0.52
2012 difference in Town of Prosper real property tax from the TIRZ due to agricultural valuation:$92,727
Approximate value of five-year real property tax rollback (Town tax only) if all due in tax year 2012 (payable 2013):$463,636
Land Area "Market"
Appraisals by Collin Central Appraisal District
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 15
Schedule 2:
Annual Development and Taxable Value Forecasts for the TIRZ, in 2012 Dollars
Notes:Uses, gross floor areas, dwelling counts and phasing are the current plan offered by the site developer. All are subject to change.
Taxable appraisals per square foot of gross floor area are estimates by Stein Planning, LLC, based on appraisals for tax purposes of comparable
developments in the metropolitan area. Comparables are listed in an appendix. Construction cost, sale value and appraisal for taxation
are not necessarily the same.
Stein Planning, LLC assumes the market will absorb floor area when completed. This is not an evaluation of market demand.
(a)(b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)
Completed Added Total
During To Roll as of 1,100 Stand-Alone Added Cumulative
Calendar Jan. 1,Units SF GFA / Unit Office Big Box General Restaurant Cinema Hotel This Year Total
2014 2015 0 0 0 0 0 0 0 0 0 0
2015 2016 0 0 60,000 0 0 0 0 0 60,000 60,000
2016 2017 0 0 0 50,000 20,000 22,000 0 60,000 152,000 212,000
2017 2018 150 165,000 50,000 0 0 10,000 0 0 225,000 437,000
2018 2019 150 165,000 50,000 0 20,000 6,000 0 0 241,000 678,000
2019 2020 0 0 0 0 0 20,000 40,000 0 60,000 738,000
2020 2021 150 165,000 60,000 0 35,000 0 0 0 260,000 998,000
2021 2022 150 165,000 100,000 50,000 180,000 18,000 0 0 513,000 1,511,000
2022 2023 0 0 120,000 0 0 0 0 300,000 420,000 1,931,000
2023 2024 200 220,000 150,000 50,000 37,000 18,000 0 0 475,000 2,406,000
2024 2025 0 0 140,000 0 50,000 12,000 0 0 202,000 2,608,000
2025 2026 200 220,000 60,000 0 0 0 0 0 280,000 2,888,000
2026 2027 150 165,000 60,000 0 0 5,000 0 0 230,000 3,118,000
2027 2028 150 165,000 60,000 0 20,000 9,000 0 0 254,000 3,372,000
2028 2029 200 220,000 0 0 0 0 0 0 220,000 3,592,000
2029 2030 0 0 0 0 0 0 0 0 0 3,592,000
Total 1,500 1,650,000 910,000 150,000 362,000 120,000 40,000 360,000 3,592,000
Completions Added Residential Stand-Alone Total
During To Roll as of for Rent, If Office, If Big Box, If General, If Restaurant, If Cinema, If Hotel, If Added Cumulative
Calendar Jan. 1,$90 $130 $80 $125 $300 $120 $95 This Year Total
2014 2015 $0 $0 $0 $0 $0 $0 $0 $17,861,549 $17,861,549
2015 2016 $0 $7,800,000 $0 $0 $0 $0 $0 $7,800,000 $25,661,549
2016 2017 $0 $0 $4,000,000 $2,500,000 $6,600,000 $0 $5,700,000 $18,800,000 $44,461,549
2017 2018 $14,850,000 $6,500,000 $0 $0 $3,000,000 $0 $0 $24,350,000 $68,811,549
2018 2019 $14,850,000 $6,500,000 $0 $2,500,000 $1,800,000 $0 $0 $25,650,000 $94,461,549
2019 2020 $0 $0 $0 $0 $6,000,000 $4,800,000 $0 $10,800,000 $105,261,549
2020 2021 $14,850,000 $7,800,000 $0 $4,375,000 $0 $0 $0 $27,025,000 $132,286,549
2021 2022 $14,850,000 $13,000,000 $4,000,000 $22,500,000 $5,400,000 $0 $0 $59,750,000 $192,036,549
2022 2023 $0 $15,600,000 $0 $0 $0 $0 $28,500,000 $44,100,000 $236,136,549
2023 2024 $19,800,000 $19,500,000 $4,000,000 $4,625,000 $5,400,000 $0 $0 $53,325,000 $289,461,549
2024 2025 $0 $18,200,000 $0 $6,250,000 $3,600,000 $0 $0 $28,050,000 $317,511,549
2025 2026 $19,800,000 $7,800,000 $0 $0 $0 $0 $0 $27,600,000 $345,111,549
2026 2027 $14,850,000 $7,800,000 $0 $0 $1,500,000 $0 $0 $24,150,000 $369,261,549
2027 2028 $14,850,000 $7,800,000 $0 $2,500,000 $2,700,000 $0 $0 $27,850,000 $397,111,549
2028 2029 $19,800,000 $0 $0 $0 $0 $0 $0 $19,800,000 $416,911,549
2029 2030 $0 $0 $0 $0 $0 $0 $0 $0 $416,911,549
Total $148,500,000 $118,300,000 $12,000,000 $45,250,000 $36,000,000 $4,800,000 $34,200,000 $397,111,549
Completions Added Residential Stand-Alone Total
During To Roll as of for Rent, If Office, If Big Box, If General, If Restaurant, If Cinema, If Hotel, If Added Cumulative
Calendar Jan. 1,$0 $20 $40 $25 $30 $15 $0 This Year Total
2014 2015 $0 $0 $0 $0 $0 $0 $0 $0 $0
2015 2016 $0 $1,200,000 $0 $0 $0 $0 $0 $1,200,000 $1,200,000
2016 2017 $0 $0 $2,000,000 $500,000 $660,000 $0 $0 $3,160,000 $4,360,000
2017 2018 $0 $1,000,000 $0 $0 $300,000 $0 $0 $1,300,000 $5,660,000
2018 2019 $0 $1,000,000 $0 $500,000 $180,000 $0 $0 $1,680,000 $7,340,000
2019 2020 $0 $0 $0 $0 $600,000 $600,000 $0 $1,200,000 $8,540,000
2020 2021 $0 $1,200,000 $0 $875,000 $0 $0 $0 $2,075,000 $10,615,000
2021 2022 $0 $2,000,000 $2,000,000 $4,500,000 $540,000 $0 $0 $9,040,000 $19,655,000
2022 2023 $0 $2,400,000 $0 $0 $0 $0 $0 $2,400,000 $22,055,000
2023 2024 $0 $3,000,000 $2,000,000 $925,000 $540,000 $0 $0 $6,465,000 $28,520,000
2024 2025 $0 $2,800,000 $0 $1,250,000 $360,000 $0 $0 $4,410,000 $32,930,000
2025 2026 $0 $1,200,000 $0 $0 $0 $0 $0 $1,200,000 $34,130,000
2026 2027 $0 $1,200,000 $0 $0 $150,000 $0 $0 $1,350,000 $35,480,000
2027 2028 $0 $1,200,000 $0 $500,000 $270,000 $0 $0 $1,970,000 $37,450,000
2028 2029 $0 $0 $0 $0 $0 $0 $0 $0 $37,450,000
2029 2030 $0 $0 $0 $0 $0 $0 $0 $0 $37,450,000
Total $0 $18,200,000 $6,000,000 $9,050,000 $3,600,000 $600,000 $0 $37,450,000
Square Feet of Gross Floor Area Added Each Year
Taxable Value of Real Property, Including Land, Based on Typical 2012 Assessments
Per SF of GFA
Retail
Retail
Taxable Value of Business Personal Property, Based on Typical 2012 Assessments
Per SF of GFA
Residential for Rent, If Retail
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 16
Schedule 3:
Summary of Estimated TIRZ Project Costs and Nonproject Costs
Notes:
This summary is based on detailed cost estimates prepared by JBI Partners, Inc. on November 14, 2012.
Costs exclude permits, impact fees, land purchase costs and tree mitigation expenses.
Developer costs exclude buildings.
Costs reflect 2012 prices. No time or inflation factor is included.
Rock excavation, if required, is not included in these estimates.
Tollway crossings are assumed at surface. Costs for bridges are not included.
Carrying costs for cash advances to pay for TIRZ project costs are also TIRZ project costs. The assumed average annual interest rate is 3.5%.
No fees or contingency have been allowed for the braided ramp at U.S Highway 380.
Anticipated grants from the Prosper Economic Development Corpration for capital improvments at Prosper West are included in project costs.
Nonproject Costs Total
TIRZ and PEDC Grant (Public Improvements Public Improvements
TIRZ Project Cost Items Project Costs by Developer)Cost
STREETS AND DRAINAGE SYSTEMS $11,146,567 $2,001,748 $13,148,315
STREET ENHANCEMENTS 0 $1,775,577 $1,775,577
WATER SYSTEM $1,367,722 $1,116,777 $2,484,499
SANITARY SEWER SYSTEM $641,670 $358,204 $999,874
OFFSITE SANITARY SEWER SYSTEM $1,479,282 $0 $1,479,282
DETENTION/RETENTION PONDS & MASS EXCAVATION $0 $2,882,560 $2,882,560
SITEWORK FOR DEVELOPMENT PARCELS $0 $15,750,000 $15,750,000
PARKING DECKS $0 $73,497,600 $73,497,600
STREET LIGHTS $174,000 $210,000 $384,000
TRAFFIC SIGNALS (4 budgeted)$850,000 $0 $850,000
$1,174,992 $0 $1,174,992
PRIMARY ELECTRIC SERVICE LOOP $0 $3,600,000 $3,600,000
ELECTRIC $0 $640,150 $640,150
GAS $0 $448,105 $448,105
STREET N2 - WESTSIDE DNT SERVICE ROAD, LOVERS LN. TO FIRST ST.$1,687,005 $0 $1,687,005
BRAIDED RAMP AT U.S. 380 $4,000,000 $0 $4,000,000
CIVIL ENGINEERING & SURVEYING (10%)$1,852,124 $10,228,072 $12,080,196
CONSTRUCTION STAKING (2%)$370,425 $2,045,614 $2,416,039
CONSTRUCTION MANAGEMENT (<3%)$533,667 $3,068,422 $3,602,089
GEOTECHNICAL STUDY (1%)$185,212 $1,022,807 $1,208,020
LEGAL (1%)$185,212 $1,022,807 $1,208,020
CONTINGENCY (10%)$1,852,124 $10,228,072 $12,080,196
Subtotal $27,500,000 $129,896,516 $157,396,516
TOWN EXPENSE FOR TIRZ ADMINISTRATION (2013 PRESENT VALUE)$916,303 $0 $916,303
Subtotal TIRZ Project Costs Before Finance Expenses $28,416,303 $129,896,516 $158,312,818
LOVERS LANE LOOP OFFSITE - STREET K6
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 17
Schedule 4:
Forecast of Taxable Property and Town Property Taxes from the TIRZ
Notes:Base value of the TIRZ assumes the 2012 taxable value.
Annual forecasts of taxable values added to the roll in 2012 dollars are calculated in a separate schedule. Values are adjusted for inflation in this schedule.
Town of Prosper "rollback" taxes from loss of agricultural status belong to the TIRZ fund. Town rollback taxes are not indicated in this schedule.
The increase in appraised value as of January 1, 2015 assumes all properties are appraised as non-agricultural land for that year.
Annual forecasts of taxable value of land and improvements associated with developed property (in 2012 dollars plus assumed inflation) are added to the tax roll on Jan. 1 following assumed completions.
The 2012 tax rate is assumed constant. Actual rates will be set annually.
No tax abatements or tax exemptions have been assumed.
(a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n)
Appraisal Before Forecast CCAD Appraisal Total Taxable Appraisal Without Forecast CCAD Appraisal
Improvements of Improved Properties Real Property in Structures Due to Personal Property Cumulative
Added This Year;Added to Roll This Year,Property Town Completed This Year;Added This Year,BPP Town Total Town
Property If Post-completion If Inflated Appraisal Real Property Post-completion If Inflated Appraisal BPP Appraisal Total Property
Appraised Tax Deposited Appraisals Rise 2.00%Total Tax @ Appraisals Rise 2.00%Total Tax @ Forecast Town Tax
TIRZ Value for to TIRZ Fund 1.00%Annually from 1/1/13 for Jan. 1 $0.52 1.00%Annually from 1/1/13 for Jan. 1 $0.52 for Jan. 1 Property After
Year Jan. 1, by May 1, Annually After 1/1/13 Through Year Added of This Year per $100 Annually After 1/1/13 Through This Year of This Year per $100 of This Year Tax Base Year
Base 2012 2013 $0 $29,413 $153 $0 $0 $0 $29,413 $153
1 2013 2014 $29,413 $0 $29,413 $153 $0 $0 $0 $0 $29,413 $153 $153
2 2014 2015 $29,707 $0 $29,707 $154 $0 $0 $0 $0 $29,707 $154 $307
3 2015 2016 $30,004 $18,583,155 $18,613,160 $96,788 $0 $0 $0 $0 $18,613,160 $96,788 $97,096
4 2016 2017 $18,799,291 $8,277,422 $27,076,714 $140,799 $0 $1,273,450 $1,273,450 $6,622 $28,350,163 $147,421 $244,517
5 2017 2018 $27,347,481 $20,349,725 $47,697,205 $248,025 $1,286,184 $3,420,486 $4,706,670 $24,475 $52,403,875 $272,500 $517,017
6 2018 2019 $48,174,177 $26,884,368 $75,058,545 $390,304 $4,753,736 $1,435,305 $6,189,041 $32,183 $81,247,587 $422,487 $939,504
7 2019 2020 $75,809,130 $28,886,066 $104,695,197 $544,415 $6,250,932 $1,891,953 $8,142,885 $42,343 $112,838,081 $586,758 $1,526,262
8 2020 2021 $105,742,149 $12,405,805 $118,147,954 $614,369 $8,224,314 $1,378,423 $9,602,736 $49,934 $127,750,690 $664,304 $2,190,566
9 2021 2022 $119,329,433 $31,664,095 $150,993,528 $785,166 $9,698,764 $2,431,193 $12,129,957 $63,076 $163,123,485 $848,242 $3,038,808
10 2022 2023 $152,503,463 $71,406,781 $223,910,244 $1,164,333 $12,251,257 $10,803,637 $23,054,893 $119,885 $246,965,138 $1,284,219 $4,323,027
11 2023 2024 $226,149,347 $53,757,654 $279,907,001 $1,455,516 $23,285,442 $2,925,587 $26,211,029 $136,297 $306,118,030 $1,591,814 $5,914,841
12 2024 2025 $282,706,071 $66,302,935 $349,009,006 $1,814,847 $26,473,139 $8,038,415 $34,511,554 $179,460 $383,520,560 $1,994,307 $7,909,147
13 2025 2026 $352,499,096 $35,574,182 $388,073,278 $2,017,981 $34,856,670 $5,592,946 $40,449,616 $210,338 $428,522,894 $2,228,319 $10,137,466
14 2026 2027 $391,954,011 $35,703,543 $427,657,554 $2,223,819 $40,854,112 $1,552,328 $42,406,440 $220,513 $470,063,994 $2,444,333 $12,581,799
15 2027 2028 $431,934,129 $31,865,412 $463,799,542 $2,411,758 $42,830,504 $1,781,296 $44,611,801 $231,981 $508,411,342 $2,643,739 $15,225,538
16 2028 2029 $468,437,537 $0 $468,437,537 $2,435,875 $45,057,919 $0 $45,057,919 $234,301 $513,495,456 $2,670,176 $17,895,715
17 2029 2030 $473,121,912 $0 $473,121,912 $2,460,234 $45,508,498 $0 $45,508,498 $236,644 $518,630,410 $2,696,878 $20,592,593
18 2030 2031 $477,853,131 $0 $477,853,131 $2,484,836 $45,963,583 $0 $45,963,583 $239,011 $523,816,714 $2,723,847 $23,316,440
19 2031 2032 $482,631,663 $0 $482,631,663 $2,509,685 $46,423,219 $0 $46,423,219 $241,401 $529,054,882 $2,751,085 $26,067,525
20 2032 2033 $487,457,979 $0 $487,457,979 $2,534,781 $46,887,451 $0 $46,887,451 $243,815 $534,345,430 $2,778,596 $28,846,121
21 2033 2034 $492,332,559 $0 $492,332,559 $2,560,129 $47,356,325 $0 $47,356,325 $246,253 $539,688,885 $2,806,382 $31,652,503
22 2034 2035 $497,255,885 $0 $497,255,885 $2,585,731 $47,829,889 $0 $47,829,889 $248,715 $545,085,773 $2,834,446 $34,486,949
23 2035 2036 $502,228,444 $0 $502,228,444 $2,611,588 $48,308,188 $0 $48,308,188 $251,203 $550,536,631 $2,862,790 $37,349,740
24 2036 2037 $507,250,728 $0 $507,250,728 $2,637,704 $48,791,270 $0 $48,791,270 $253,715 $556,041,998 $2,891,418 $40,241,158
25 2037 2038 $512,323,235 $0 $512,323,235 $2,664,081 $49,279,182 $0 $49,279,182 $256,252 $561,602,418 $2,920,333 $43,161,491
26 2038 2039 $517,446,468 $0 $517,446,468 $2,690,722 $49,771,974 $0 $49,771,974 $258,814 $567,218,442 $2,949,536 $46,111,027
27 2039 2040 $522,620,932 $0 $522,620,932 $2,717,629 $50,269,694 $0 $50,269,694 $261,402 $572,890,626 $2,979,031 $49,090,058
28 2040 2041 $527,847,142 $0 $527,847,142 $2,744,805 $50,772,391 $0 $50,772,391 $264,016 $578,619,532 $3,008,822 $52,098,880
29 2041 2042 $533,125,613 $0 $533,125,613 $2,772,253 $51,280,115 $0 $51,280,115 $266,657 $584,405,728 $3,038,910 $55,137,789
30 2042 2043 $538,456,869 $0 $538,456,869 $2,799,976 $51,792,916 $0 $51,792,916 $269,323 $590,249,785 $3,069,299 $58,207,088
31 2043 2044 $543,841,438 $0 $543,841,438 $2,827,975 $52,310,845 $0 $52,310,845 $272,016 $596,152,283 $3,099,992 $61,307,080
32 2044 2045 $549,279,852 $0 $549,279,852 $2,856,255 $52,833,953 $0 $52,833,953 $274,737 $602,113,806 $3,130,992 $64,438,072
33 2045 2046 $554,772,651 $0 $554,772,651 $2,884,818 $53,362,293 $0 $53,362,293 $277,484 $608,134,944 $3,162,302 $67,600,374
34 2046 2047 $560,320,377 $0 $560,320,377 $2,913,666 $53,895,916 $0 $53,895,916 $280,259 $614,216,293 $3,193,925 $70,794,298
35 2047 2048 $565,923,581 $0 $565,923,581 $2,942,803 $54,434,875 $0 $54,434,875 $283,061 $620,358,456 $3,225,864 $74,020,162
36 2048 2049 $571,582,817 $0 $571,582,817 $2,972,231 $54,979,224 $0 $54,979,224 $285,892 $626,562,041 $3,258,123 $77,278,285
37 2049 2050 $577,298,645 $0 $577,298,645 $3,001,953 $55,529,016 $0 $55,529,016 $288,751 $632,827,661 $3,290,704 $80,568,989
38 2050 2051 $583,071,632 $0 $583,071,632 $3,031,972 $56,084,306 $0 $56,084,306 $291,638 $639,155,938 $3,323,611 $83,892,600
39 2051 2052 $588,902,348 $0 $588,902,348 $3,062,292 $56,645,149 $0 $56,645,149 $294,555 $645,547,497 $3,356,847 $87,249,447
40 2052 2053 $594,791,371 $0 $594,791,371 $3,092,915 $57,211,601 $0 $57,211,601 $297,500 $652,002,972 $3,390,415 $90,639,862
Total for years 1-40 $441,661,143 $82,705,339 $42,525,018 $7,934,523 $90,639,862
Business Personal Property Total PropertyReal Property
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 18
Schedule 5:
Forecast of Taxable Property and County Property Taxes from the TIRZ
Notes:Base value of the TIRZ assumes the 2012 taxable value.
Annual forecasts of taxable values added to the roll in 2012 dollars are calculated in a separate schedule. Values are adjusted for inflation in this schedule.
The increase in appraised value as of January 1, 2015 assumes all properties are appraised as non-agricultural land for that year.
Annual forecasts of taxable value of land and improvements associated with developed property (in 2012 dollars plus assumed inflation) are added to the tax roll on Jan. 1 following assumed completions.
The 2012 tax rate is assumed constant. Actual rates will be set annually.
No tax abatements or tax exemptions have been assumed.
(a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n)
Appraisal Before Forecast CCAD Appraisal Total Taxable Appraisal Without Forecast CCAD Appraisal
Improvements of Improved Properties Real Property in Structures Due to Personal Property Cumulative
Added This Year;Added to Roll This Year,Property County Completed This Year;Added This Year,BPP County Total County
Property If Post-completion If Inflated Appraisal Real Property Post-completion If Inflated Appraisal BPP Appraisal Total Property
Appraised Tax Deposited Appraisals Rise 2.00%Total Tax @ Appraisals Rise 2.00%Total Tax @ Forecast County Tax
TIRZ Value for to TIRZ Fund 1.00%Annually from 1/1/13 for Jan. 1 $0.24 1.00%Annually from 1/1/13 for Jan. 1 $0.24 for Jan. 1 Property After
Year Jan. 1, by May 1, Annually After 1/1/13 Through Year Added of This Year per $100 Annually After 1/1/13 Through This Year of This Year per $100 of This Year Tax Base Year
Base 2012 2013 $0 $29,413 $71 $0 $0 $0 $0 $29,413 $71
1 2013 2014 $29,413 $0 $29,413 $71 $0 $0 $0 $0 $29,413 $71 $71
2 2014 2015 $29,707 $0 $29,707 $71 $0 $0 $0 $0 $29,707 $71 $142
3 2015 2016 $30,004 $18,583,155 $18,613,160 $44,672 $0 $0 $0 $0 $18,613,160 $44,672 $44,813
4 2016 2017 $18,799,291 $8,277,422 $27,076,714 $64,984 $0 $1,273,450 $1,273,450 $3,056 $28,350,163 $68,040 $112,854
5 2017 2018 $27,347,481 $20,349,725 $47,697,205 $114,473 $1,286,184 $3,420,486 $4,706,670 $11,296 $52,403,875 $125,769 $238,623
6 2018 2019 $48,174,177 $26,884,368 $75,058,545 $180,141 $4,753,736 $1,435,305 $6,189,041 $14,854 $81,247,587 $194,994 $433,617
7 2019 2020 $75,809,130 $28,886,066 $104,695,197 $251,268 $6,250,932 $1,891,953 $8,142,885 $19,543 $112,838,081 $270,811 $704,429
8 2020 2021 $105,742,149 $12,405,805 $118,147,954 $283,555 $8,224,314 $1,378,423 $9,602,736 $23,047 $127,750,690 $306,602 $1,011,030
9 2021 2022 $119,329,433 $31,664,095 $150,993,528 $362,384 $9,698,764 $2,431,193 $12,129,957 $29,112 $163,123,485 $391,496 $1,402,527
10 2022 2023 $152,503,463 $71,406,781 $223,910,244 $537,385 $12,251,257 $10,803,637 $23,054,893 $55,332 $246,965,138 $592,716 $1,995,243
11 2023 2024 $226,149,347 $53,757,654 $279,907,001 $671,777 $23,285,442 $2,925,587 $26,211,029 $62,906 $306,118,030 $734,683 $2,729,926
12 2024 2025 $282,706,071 $66,302,935 $349,009,006 $837,622 $26,473,139 $8,038,415 $34,511,554 $82,828 $383,520,560 $920,449 $3,650,376
13 2025 2026 $352,499,096 $35,574,182 $388,073,278 $931,376 $34,856,670 $5,592,946 $40,449,616 $97,079 $428,522,894 $1,028,455 $4,678,831
14 2026 2027 $391,954,011 $35,703,543 $427,657,554 $1,026,378 $40,854,112 $1,552,328 $42,406,440 $101,775 $470,063,994 $1,128,154 $5,806,984
15 2027 2028 $431,934,129 $31,865,412 $463,799,542 $1,113,119 $42,830,504 $1,781,296 $44,611,801 $107,068 $508,411,342 $1,220,187 $7,027,171
16 2028 2029 $468,437,537 $0 $468,437,537 $1,124,250 $45,057,919 $0 $45,057,919 $108,139 $513,495,456 $1,232,389 $8,259,561
17 2029 2030 $473,121,912 $0 $473,121,912 $1,135,493 $45,508,498 $0 $45,508,498 $109,220 $518,630,410 $1,244,713 $9,504,274
18 2030 2031 $477,853,131 $0 $477,853,131 $1,146,848 $45,963,583 $0 $45,963,583 $110,313 $523,816,714 $1,257,160 $10,761,434
19 2031 2032 $482,631,663 $0 $482,631,663 $1,158,316 $46,423,219 $0 $46,423,219 $111,416 $529,054,882 $1,269,732 $12,031,165
20 2032 2033 $487,457,979 $0 $487,457,979 $1,169,899 $46,887,451 $0 $46,887,451 $112,530 $534,345,430 $1,282,429 $13,313,594
21 2033 2034 $492,332,559 $0 $492,332,559 $1,181,598 $47,356,325 $0 $47,356,325 $113,655 $539,688,885 $1,295,253 $14,608,848
22 2034 2035 $497,255,885 $0 $497,255,885 $1,193,414 $47,829,889 $0 $47,829,889 $114,792 $545,085,773 $1,308,206 $15,917,054
23 2035 2036 $502,228,444 $0 $502,228,444 $1,205,348 $48,308,188 $0 $48,308,188 $115,940 $550,536,631 $1,321,288 $17,238,342
24 2036 2037 $507,250,728 $0 $507,250,728 $1,217,402 $48,791,270 $0 $48,791,270 $117,099 $556,041,998 $1,334,501 $18,572,842
25 2037 2038 $512,323,235 $0 $512,323,235 $1,229,576 $49,279,182 $0 $49,279,182 $118,270 $561,602,418 $1,347,846 $19,920,688
26 2038 2039 $517,446,468 $0 $517,446,468 $1,241,872 $49,771,974 $0 $49,771,974 $119,453 $567,218,442 $1,361,324 $21,282,012
27 2039 2040 $522,620,932 $0 $522,620,932 $1,254,290 $50,269,694 $0 $50,269,694 $120,647 $572,890,626 $1,374,938 $22,656,950
28 2040 2041 $527,847,142 $0 $527,847,142 $1,266,833 $50,772,391 $0 $50,772,391 $121,854 $578,619,532 $1,388,687 $24,045,637
29 2041 2042 $533,125,613 $0 $533,125,613 $1,279,501 $51,280,115 $0 $51,280,115 $123,072 $584,405,728 $1,402,574 $25,448,211
30 2042 2043 $538,456,869 $0 $538,456,869 $1,292,296 $51,792,916 $0 $51,792,916 $124,303 $590,249,785 $1,416,599 $26,864,810
31 2043 2044 $543,841,438 $0 $543,841,438 $1,305,219 $52,310,845 $0 $52,310,845 $125,546 $596,152,283 $1,430,765 $28,295,575
32 2044 2045 $549,279,852 $0 $549,279,852 $1,318,272 $52,833,953 $0 $52,833,953 $126,801 $602,113,806 $1,445,073 $29,740,649
33 2045 2046 $554,772,651 $0 $554,772,651 $1,331,454 $53,362,293 $0 $53,362,293 $128,070 $608,134,944 $1,459,524 $31,200,172
34 2046 2047 $560,320,377 $0 $560,320,377 $1,344,769 $53,895,916 $0 $53,895,916 $129,350 $614,216,293 $1,474,119 $32,674,292
35 2047 2048 $565,923,581 $0 $565,923,581 $1,358,217 $54,434,875 $0 $54,434,875 $130,644 $620,358,456 $1,488,860 $34,163,152
36 2048 2049 $571,582,817 $0 $571,582,817 $1,371,799 $54,979,224 $0 $54,979,224 $131,950 $626,562,041 $1,503,749 $35,666,901
37 2049 2050 $577,298,645 $0 $577,298,645 $1,385,517 $55,529,016 $0 $55,529,016 $133,270 $632,827,661 $1,518,786 $37,185,687
38 2050 2051 $583,071,632 $0 $583,071,632 $1,399,372 $56,084,306 $0 $56,084,306 $134,602 $639,155,938 $1,533,974 $38,719,661
39 2051 2052 $588,902,348 $0 $588,902,348 $1,413,366 $56,645,149 $0 $56,645,149 $135,948 $645,547,497 $1,549,314 $40,268,975
40 2052 2053 $594,791,371 $0 $594,791,371 $1,427,499 $57,211,601 $0 $57,211,601 $137,308 $652,002,972 $1,564,807 $41,833,783
Total for years 1-40 $441,661,143 $38,171,695 $42,525,018 $3,662,088 $41,833,783
Business Personal Property Total PropertyReal Property
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 19
Schedule 6:
Forecast of Real Property Tax increments to the TIRZ Fund
Notes:Actual cash flow to a TIRZ fund depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast.
2012 tax rates are assumed constant. Actual rates will be set annually.
Prosper and Collin County will commit to pay specified percentages of real property tax increments to the TIRZ fund for a specified term of years. Cash flow to the TIRZ fund may be
terminated if and when the fund has no outstanding financial obligations.
Prosper will stipulate obligations (for example, completion of specific improvements before a specific date) to be met before disbursement of cash from the TIRZ fund.
If the TIRZ fund has insufficient cash to pay City administrative expenses for the TIRZ program, expenses are accrued until paid and shall be senior to all other claims on the TIRZ fund.
100% of Town rollback taxes due to switching from agricultural production value to market value as the basis for property taxation will flow to the TIRZ fund, but rollback taxes are not
modeled in this schedule. Total value of Town property tax rollbacks for the TIRZ will approximate $500,000.
(a) (b) (c) (d)(e)(f)(g)(h)(i) (j)(k)(l)(m)(n)
Captured Total Town Tax Total County Tax From From Less
For Tax Taxable Appraised on Captured % of on Captured % of Prosper County TIRZ Program Total,
Appraisals Receipts Real Value of Appraised Town Appraised County Real Real Town Net of
on Jan. 1,Flow to Property Real Property Value @ RP Tax Value @ RP Tax Property Property Administrative Accrued
TIRZ or Sales in TIRZ Fund (From (Taxable less $0.52 Increments $0.24 Increments Tax Tax Expense Administrative
Year Calendar by May 1, Schedule 4) 2012 base) Tax Rate To TIRZ Tax Rate To TIRZ Increments Increments Total (Estimated) Expenses
Base 2012 2013 $29,413 $0 $0 0%$0 0%$0 $0 $0 $60,000 $0
1 2013 2014 $29,413 $0 $0 70%$0 50%$0 $0 $0 $30,000 $0
2 2014 2015 $29,707 $294 $2 70%$1 50%$1 $0 $1 $30,600 $0
3 2015 2016 $18,613,160 $18,583,747 $96,635 70% $44,601 50% $67,645 $22,300 $89,945 $45,000 $0
4 2016 2017 $27,076,714 $27,047,301 $140,646 70% $64,914 50% $98,452 $32,457 $130,909 $45,900 $69,356
5 2017 2018 $47,697,205 $47,667,792 $247,873 70% $114,403 50% $173,511 $57,201 $230,712 $46,818 $183,894
6 2018 2019 $75,058,545 $75,029,132 $390,151 70% $180,070 50% $273,106 $90,035 $363,141 $47,754 $315,387
7 2019 2020 $104,695,197 $104,665,784 $544,262 70% $251,198 50% $380,983 $125,599 $506,582 $48,709 $457,873
8 2020 2021 $118,147,954 $118,118,541 $614,216 70% $283,484 50% $429,951 $141,742 $571,694 $49,684 $522,010
9 2021 2022 $150,993,528 $150,964,115 $785,013 70% $362,314 50% $549,509 $181,157 $730,666 $50,677 $679,989
10 2022 2023 $223,910,244 $223,880,831 $1,164,180 70% $537,314 50% $814,926 $268,657 $1,083,583 $51,691 $1,031,892
11 2023 2024 $279,907,001 $279,877,588 $1,455,363 70% $671,706 50% $1,018,754 $335,853 $1,354,608 $52,725 $1,301,883
12 2024 2025 $349,009,006 $348,979,593 $1,814,694 70% $837,551 50% $1,270,286 $418,776 $1,689,061 $53,779 $1,635,282
13 2025 2026 $388,073,278 $388,043,865 $2,017,828 70% $931,305 50% $1,412,480 $465,653 $1,878,132 $54,855 $1,823,278
14 2026 2027 $427,657,554 $427,628,141 $2,223,666 70% $1,026,308 50% $1,556,566 $513,154 $2,069,720 $55,952 $2,013,768
15 2027 2028 $463,799,542 $463,770,128 $2,411,605 70% $1,113,048 50% $1,688,123 $556,524 $2,244,647 $57,071 $2,187,577
16 2028 2029 $468,437,537 $468,408,124 $2,435,722 70% $1,124,179 50% $1,705,006 $562,090 $2,267,095 $58,212 $2,208,883
17 2029 2030 $473,121,912 $473,092,499 $2,460,081 70% $1,135,422 50% $1,722,057 $567,711 $2,289,768 $59,377 $2,230,391
18 2030 2031 $477,853,131 $477,823,718 $2,484,683 70% $1,146,777 50% $1,739,278 $573,388 $2,312,667 $60,564 $2,252,103
19 2031 2032 $482,631,663 $482,602,250 $2,509,532 70% $1,158,245 50% $1,756,672 $579,123 $2,335,795 $61,775 $2,274,020
20 2032 2033 $487,457,979 $487,428,566 $2,534,629 70% $1,169,829 50% $1,774,240 $584,914 $2,359,154 $63,011 $2,296,143
21 2033 2034 $492,332,559 $492,303,146 $2,559,976 70% $1,181,528 50% $1,791,983 $590,764 $2,382,747 $64,271 $2,318,476
22 2034 2035 $497,255,885 $497,226,472 $2,585,578 70% $1,193,344 50% $1,809,904 $596,672 $2,406,576 $65,557 $2,341,020
23 2035 2036 $502,228,444 $502,199,031 $2,611,435 70% $1,205,278 50% $1,828,004 $602,639 $2,430,643 $66,868 $2,363,776
24 2036 2037 $507,250,728 $507,221,315 $2,637,551 70% $1,217,331 50% $1,846,286 $608,666 $2,454,951 $68,205 $2,386,746
25 2037 2038 $512,323,235 $512,293,822 $2,663,928 70% $1,229,505 50% $1,864,750 $614,753 $2,479,502 $69,569 $2,409,933
26 2038 2039 $517,446,468 $517,417,055 $2,690,569 0% $1,241,801 0%$0 $0 $0 $0 $0
27 2039 2040 $522,620,932 $522,591,519 $2,717,476 0% $1,254,220 0%$0 $0 $0 $0 $0
28 2040 2041 $527,847,142 $527,817,729 $2,744,652 0% $1,266,763 0%$0 $0 $0 $0 $0
29 2041 2042 $533,125,613 $533,096,200 $2,772,100 0% $1,279,431 0%$0 $0 $0 $0 $0
30 2042 2043 $538,456,869 $538,427,456 $2,799,823 0% $1,292,226 0%$0 $0 $0 $0 $0
31 2043 2044 $543,841,438 $543,812,025 $2,827,823 0% $1,305,149 0%$0 $0 $0 $0 $0
32 2044 2045 $549,279,852 $549,250,439 $2,856,102 0% $1,318,201 0%$0 $0 $0 $0 $0
33 2045 2046 $554,772,651 $554,743,238 $2,884,665 0% $1,331,384 0%$0 $0 $0 $0 $0
34 2046 2047 $560,320,377 $560,290,964 $2,913,513 0% $1,344,698 0%$0 $0 $0 $0 $0
35 2047 2048 $565,923,581 $565,894,168 $2,942,650 0% $1,358,146 0%$0 $0 $0 $0 $0
36 2048 2049 $571,582,817 $571,553,404 $2,972,078 0% $1,371,728 0%$0 $0 $0 $0 $0
37 2049 2050 $577,298,645 $577,269,232 $3,001,800 0% $1,385,446 0%$0 $0 $0 $0 $0
38 2050 2051 $583,071,632 $583,042,218 $3,031,820 0% $1,399,301 0%$0 $0 $0 $0 $0
39 2051 2052 $588,902,348 $588,872,935 $3,062,139 0% $1,413,295 0%$0 $0 $0 $0 $0
40 2052 2053 $594,791,371 $594,761,958 $3,092,762 0% $1,427,429 0%$0 $0 $0 $0 $0
Total for years 1-40 $82,699,221 $38,168,871 $27,572,475 $9,089,827 $36,662,302 $1,358,623 $35,303,679
Captured Appraised Values and Real Property Tax Increments Tax to the TIRZ Fund
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 20
Schedule 7:
Forecast of Taxable Sales from Stores, Restaurants and Cinemas in the TIRZ, in 2012 Dollars
Part A: Cumulative Square Feet of Gross Floor Area
Notes: Statistics about retail store type, floor area and completion year are from a separate schedule.
Restaurants and shops within hotels are not included here. Taxable sales and taxes from hotels are forecast in other schedules.
(a)(b)(c)(d)(e)(f)(g)
Retail SF Ready for
on Property Roll Occupancy Big Box General All
as of Jan. 1,July 1,Retail Retail Restaurant Cinema Named Categories
2015 2014 0 0 0 0 0
2016 2015 0 0 0 0 0
2017 2016 50,000 20,000 22,000 0 92,000
2018 2017 50,000 20,000 32,000 0 102,000
2019 2018 50,000 40,000 38,000 0 128,000
2020 2019 50,000 40,000 58,000 40,000 188,000
2021 2020 50,000 75,000 58,000 40,000 223,000
2022 2021 100,000 255,000 76,000 40,000 471,000
2023 2022 100,000 255,000 76,000 40,000 471,000
2024 2023 150,000 292,000 94,000 40,000 576,000
2025 2024 150,000 342,000 106,000 40,000 638,000
2026 2025 150,000 342,000 106,000 40,000 638,000
2027 2026 150,000 342,000 111,000 40,000 643,000
2028 2027 150,000 362,000 120,000 40,000 672,000
Part B: Annual Sales Volume Subject to Municipal Sales Tax, in 2012 Dollars (Before Inflation)
Notes: Gross floor areas are as assumed in Part A.
Stated percentages of store spaces are assumed occupied when space is ready for occupancy on July 1 of each year. This may
overstate sales for the initial years.
Sales from July 1 through December are assumed to constitute 60% of annual sales.
Sales per square foot of gross floor area are estimates by Stein Planning, LLC, based on norms that may vary widely.
Food for home preparation, health items, alcoholic beverages, autos, gasoline, tax holiday items and items for resale are not
subject to municipal sales tax.
Percentages of sales that are taxable are an allowance for exemptions and discounts to merchants for timely tax payments.
(a)(b)(c)(d)(e)(f)
If Big Box If General If Restaurant If Cinema
Retail Sales Are Retail Sales Are Sales Are Sales Are
$225 $225 $400 $120
Annual Sales 95%95%98%98%
Forecast
Through
Dec. 31,95%90%90%95%All Taxable Sales
2014 $0 $0 $0 $0 $0
2015 $0 $0 $0 $0 $0
2016 $6,091,875 $2,308,500 $4,656,960 $0 $13,057,335
2017 $10,153,125 $3,847,500 $9,878,400 $0 $23,879,025
2018 $10,153,125 $6,156,000 $12,559,680 $0 $28,868,805
2019 $10,153,125 $7,695,000 $17,640,000 $2,681,280 $38,169,405
2020 $10,153,125 $11,734,875 $20,462,400 $4,468,800 $46,819,200
2021 $16,245,000 $35,204,625 $24,272,640 $4,468,800 $80,191,065
2022 $20,306,250 $49,055,625 $26,812,800 $4,468,800 $100,643,475
2023 $26,398,125 $53,326,350 $30,623,040 $4,468,800 $114,816,315
2024 $30,459,375 $61,944,750 $35,703,360 $4,468,800 $132,576,285
2025 $30,459,375 $65,792,250 $37,396,800 $4,468,800 $138,117,225
2026 $30,459,375 $65,792,250 $38,455,200 $4,468,800 $139,175,625
2027 $30,459,375 $68,100,750 $41,065,920 $4,468,800 $144,094,845
per Square Foot of Gross Floor Area;
And If Occupancy is:
If Taxable Sales are These Percentages of Volume:
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 21
Schedule 8:
Forecast of Hotel Sales, Town Hotel Occupancy Tax and Hotel Sales Subject to Sales Tax
Notes:This assumes a hotel with 60,000 square feet of gross floor area opens at the beginning of 2017 and a hotel with 300,000 opens at the beginning of 2021.
Number of rooms assumes 925 square feet of gross floor area per room.
Revenue per available room is based on Texas Comptroller records from four recent quarters for similarly sized hotels in neighboring Frisco, Texas.
Uses for hotel occupancy tax are limited to convention facilities and other items specified by Texas law.
Hotel food and shop sales typically range from $0 to 40% of room revenue, depending on the type of hotel.
(a) (b)(c)(d)(e)(f)(g)(h)(i)(j)
Town Hotel Hotel Items Subject to
Taxable RevPAR Total Annual Taxable Occupancy Sales Tax, If
Nightly Room (Nightly Room Annual Taxable Room Revenue Tax @ 10%
Year Revenue per Revenue per Room Revenue Inflated 7.00%of Taxable Room Sales
TIRZ Ending Available Available Room,Available Available Room), for 365 Nights,1.00%Based on Room on Second Hotel, in 2012 Dollars
Year 4Q, Rooms in 2012 Dollars Rooms in 2012 Dollars in 2012 Dollars Annually from 1/1/13 Revenue as Inflated (to Schedule 9)
Base 2012 0 $0 0 $0 $0 $0 $0 $0
1 2013 0 $0 0 $0 $0 $0 $0 $0
2 2014 0 $0 0 $0 $0 $0 $0 $0
3 2015 0 $0 0 $0 $0 $0 $0 $0
4 2016 0 $0 0 $0 $0 $0 $0 $0
5 2017 65 $46 0 $0 $1,089,081 $1,144,635 $80,124 $0
6 2018 65 $46 0 $0 $1,089,081 $1,156,082 $80,926 $0
7 2019 65 $46 0 $0 $1,089,081 $1,167,642 $81,735 $0
8 2020 65 $46 0 $0 $1,089,081 $1,179,319 $82,552 $0
9 2021 65 $46 0 $0 $1,089,081 $1,191,112 $83,378 $0
10 2022 65 $46 0 $0 $1,089,081 $1,203,023 $84,212 $0
11 2023 65 $46 324 $94 $12,216,649 $13,629,728 $954,081 $1,112,757
12 2024 65 $46 324 $94 $12,216,649 $13,766,025 $963,622 $1,112,757
13 2025 65 $46 324 $94 $12,216,649 $13,903,686 $973,258 $1,112,757
14 2026 65 $46 324 $94 $12,216,649 $14,042,723 $982,991 $1,112,757
15 2027 65 $46 324 $94 $12,216,649 $14,183,150 $992,820 $1,112,757
16 2028 65 $46 324 $94 $12,216,649 $14,324,981 $1,002,749 $1,112,757
17 2029 65 $46 324 $94 $12,216,649 $14,468,231 $1,012,776 $1,112,757
18 2030 65 $46 324 $94 $12,216,649 $14,612,913 $1,022,904 $1,112,757
19 2031 65 $46 324 $94 $12,216,649 $14,759,043 $1,033,133 $1,112,757
20 2032 65 $46 324 $94 $12,216,649 $14,906,633 $1,043,464 $1,112,757
21 2033 65 $46 324 $94 $12,216,649 $15,055,699 $1,053,899 $1,112,757
22 2034 65 $46 324 $94 $12,216,649 $15,206,256 $1,064,438 $1,112,757
23 2035 65 $46 324 $94 $12,216,649 $15,358,319 $1,075,082 $1,112,757
24 2036 65 $46 324 $94 $12,216,649 $15,511,902 $1,085,833 $1,112,757
25 2037 65 $46 324 $94 $12,216,649 $15,667,021 $1,096,691 $1,112,757
26 2038 65 $46 324 $94 $12,216,649 $15,823,691 $1,107,658 $1,112,757
27 2039 65 $46 324 $94 $12,216,649 $15,981,928 $1,118,735 $1,112,757
28 2040 65 $46 324 $94 $12,216,649 $16,141,748 $1,129,922 $1,112,757
29 2041 65 $46 324 $94 $12,216,649 $16,303,165 $1,141,222 $1,112,757
30 2042 65 $46 324 $94 $12,216,649 $16,466,197 $1,152,634 $1,112,757
31 2043 65 $46 324 $94 $12,216,649 $16,630,859 $1,164,160 $1,112,757
32 2044 65 $46 324 $94 $12,216,649 $16,797,167 $1,175,802 $1,112,757
33 2045 65 $46 324 $94 $12,216,649 $16,965,139 $1,187,560 $1,112,757
34 2046 65 $46 324 $94 $12,216,649 $17,134,790 $1,199,435 $1,112,757
35 2047 65 $46 324 $94 $12,216,649 $17,306,138 $1,211,430 $1,112,757
36 2048 65 $46 324 $94 $12,216,649 $17,479,200 $1,223,544 $1,112,757
37 2049 65 $46 324 $94 $12,216,649 $17,653,992 $1,235,779 $1,112,757
38 2050 65 $46 324 $94 $12,216,649 $17,830,531 $1,248,137 $1,112,757
39 2051 65 $46 324 $94 $12,216,649 $18,008,837 $1,260,619 $1,112,757
40 2052 65 $46 324 $94 $12,216,649 $18,188,925 $1,273,225 $1,112,757
Total for years 1-40 $481,150,430 $33,680,530 $33,382,703
First Hotel Second Hotel
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 22
Schedule 9:
Forecast of Total Municipal Sales Tax Generated in the TIRZ
Notes:Because little or no sales tax was generated in the TIRZ in base year 2012, all sales volume subject to sales tax in future years is assumed to be incremental sales.
Sales volume and sales tax depend on actual development volume, timing of development, tenants, and other factors. They may be more or less than this forecast.
Annual sales volume forecasts of construction materials used in the zone (provided delivery is taken in the zone) are based on assumptions that (a) materials are
delivered in the zone in the twelve months before a project appears on the tax roll as completed; (b) materials are 30% of completed project value;
(c) improvement values are 75% of total project value; (d) taxable value is 85% of actual project value; (e) some slippage occurs in that some deliveries are
taken outside the TIRZ. The assumed conversion to non-agricultural value on Jan. 1, 2015 does not trigger sales tax.
(a) (b) (c)(d)(e)(f)(g)(h)(i)(j)(k)(l)
For Construction
Sales, If
Sales Tax From Stores, From Hotel Materials Are
Receipts Restaurants Food and 25%Total,
Credited to and Cinemas, Shop Sales, of Taxable Real Property If Inflated Prosper Prosper
Designated In 2012 Dollars In 2012 Dollars Value Added to Roll 1.00% Prosper EDC Property Tax
TIRZ Through Account (From (From Through Dec. 31 of Year,Total, Annually General @ 4A @ Relief @ Total @
Year Dec. 31, by May 1, Schedule 7) Schedule 8) In 2012 Dollars In 2012 Dollars After 12/31/12 1.00% 0.50% 0.50% 2.00%
Base 2012 2013 $0 $0 $0 $0 $0 $0 $0 $0 $0
1 2013 2014 $0 $0 $0 $0 $0 $0 $0 $0 $0
2 2014 2015 $0 $0 $0 $0 $0 $0 $0 $0 $0
3 2015 2016 $0 $0 $1,950,000 $1,950,000 $2,009,087 $20,091 $10,045 $10,045 $40,182
4 2016 2017 $13,057,335 $0 $4,700,000 $17,757,335 $18,478,354 $184,784 $92,392 $92,392 $369,567
5 2017 2018 $23,879,025 $0 $6,087,500 $29,966,525 $31,495,119 $314,951 $157,476 $157,476 $629,902
6 2018 2019 $28,868,805 $0 $6,412,500 $35,281,305 $37,451,816 $374,518 $187,259 $187,259 $749,036
7 2019 2020 $38,169,405 $0 $2,700,000 $40,869,405 $43,817,534 $438,175 $219,088 $219,088 $876,351
8 2020 2021 $46,819,200 $0 $6,756,250 $53,575,450 $58,014,535 $580,145 $290,073 $290,073 $1,160,291
9 2021 2022 $80,191,065 $0 $14,937,500 $95,128,565 $104,040,711 $1,040,407 $520,204 $520,204 $2,080,814
10 2022 2023 $100,643,475 $0 $11,025,000 $111,668,475 $123,351,468 $1,233,515 $616,757 $616,757 $2,467,029
11 2023 2024 $114,816,315 $1,112,757 $13,331,250 $129,260,322 $144,211,649 $1,442,116 $721,058 $721,058 $2,884,233
12 2024 2025 $132,576,285 $1,112,757 $7,012,500 $140,701,542 $158,546,019 $1,585,460 $792,730 $792,730 $3,170,920
13 2025 2026 $138,117,225 $1,112,757 $6,900,000 $146,129,982 $166,309,550 $1,663,096 $831,548 $831,548 $3,326,191
14 2026 2027 $139,175,625 $1,112,757 $6,037,500 $146,325,882 $168,197,828 $1,681,978 $840,989 $840,989 $3,363,957
15 2027 2028 $144,094,845 $1,112,757 $6,962,500 $152,170,102 $176,664,764 $1,766,648 $883,324 $883,324 $3,533,295
16 2028 2029 $144,094,845 $1,112,757 $0 $145,207,602 $170,267,333 $1,702,673 $851,337 $851,337 $3,405,347
17 2029 2030 $144,094,845 $1,112,757 $0 $145,207,602 $171,970,006 $1,719,700 $859,850 $859,850 $3,439,400
18 2030 2031 $144,094,845 $1,112,757 $0 $145,207,602 $173,689,706 $1,736,897 $868,449 $868,449 $3,473,794
19 2031 2032 $144,094,845 $1,112,757 $0 $145,207,602 $175,426,603 $1,754,266 $877,133 $877,133 $3,508,532
20 2032 2033 $144,094,845 $1,112,757 $0 $145,207,602 $177,180,869 $1,771,809 $885,904 $885,904 $3,543,617
21 2033 2034 $144,094,845 $1,112,757 $0 $145,207,602 $178,952,678 $1,789,527 $894,763 $894,763 $3,579,054
22 2034 2035 $144,094,845 $1,112,757 $0 $145,207,602 $180,742,205 $1,807,422 $903,711 $903,711 $3,614,844
23 2035 2036 $144,094,845 $1,112,757 $0 $145,207,602 $182,549,627 $1,825,496 $912,748 $912,748 $3,650,993
24 2036 2037 $144,094,845 $1,112,757 $0 $145,207,602 $184,375,123 $1,843,751 $921,876 $921,876 $3,687,502
25 2037 2038 $144,094,845 $1,112,757 $0 $145,207,602 $186,218,874 $1,862,189 $931,094 $931,094 $3,724,377
26 2038 2039 $144,094,845 $1,112,757 $0 $145,207,602 $188,081,063 $1,880,811 $940,405 $940,405 $3,761,621
27 2039 2040 $144,094,845 $1,112,757 $0 $145,207,602 $189,961,874 $1,899,619 $949,809 $949,809 $3,799,237
28 2040 2041 $144,094,845 $1,112,757 $0 $145,207,602 $191,861,493 $1,918,615 $959,307 $959,307 $3,837,230
29 2041 2042 $144,094,845 $1,112,757 $0 $145,207,602 $193,780,107 $1,937,801 $968,901 $968,901 $3,875,602
30 2042 2043 $144,094,845 $1,112,757 $0 $145,207,602 $195,717,909 $1,957,179 $978,590 $978,590 $3,914,358
31 2043 2044 $144,094,845 $1,112,757 $0 $145,207,602 $197,675,088 $1,976,751 $988,375 $988,375 $3,953,502
32 2044 2045 $144,094,845 $1,112,757 $0 $145,207,602 $199,651,838 $1,996,518 $998,259 $998,259 $3,993,037
33 2045 2046 $144,094,845 $1,112,757 $0 $145,207,602 $201,648,357 $2,016,484 $1,008,242 $1,008,242 $4,032,967
34 2046 2047 $144,094,845 $1,112,757 $0 $145,207,602 $203,664,840 $2,036,648 $1,018,324 $1,018,324 $4,073,297
35 2047 2048 $144,094,845 $1,112,757 $0 $145,207,602 $205,701,489 $2,057,015 $1,028,507 $1,028,507 $4,114,030
36 2048 2049 $144,094,845 $1,112,757 $0 $145,207,602 $207,758,504 $2,077,585 $1,038,793 $1,038,793 $4,155,170
37 2049 2050 $144,094,845 $1,112,757 $0 $145,207,602 $209,836,089 $2,098,361 $1,049,180 $1,049,180 $4,196,722
38 2050 2051 $144,094,845 $1,112,757 $0 $145,207,602 $211,934,450 $2,119,344 $1,059,672 $1,059,672 $4,238,689
39 2051 2052 $144,094,845 $1,112,757 $0 $145,207,602 $214,053,794 $2,140,538 $1,070,269 $1,070,269 $4,281,076
40 2052 2053 $144,094,845 $1,112,757 $0 $145,207,602 $216,194,332 $2,161,943 $1,080,972 $1,080,972 $4,323,887
Total for Years 1-40 $4,602,779,730 $33,382,703 $94,812,500 $4,730,974,933 $6,041,482,686 $60,414,827 $30,207,413 $30,207,413 $120,829,654
Annual Taxable Sales Volume Forecast
Total Local Sales Tax,
Based on Sales Volume as Inflated
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 23
Schedule 10:
Town of Prosper General Sales Tax for the TIRZ Fund
Notes:Sales volume and sales tax depend on actual development volume, timing of development,
tenants, and other factors. They may be more or less than this forecast.
The Town of Prosper commits to pay the specified percentages of sales tax, subject to
specific conditions A commitment of 33 years is modeled in this schedule.
(a) (b)(c)(d)(e)(f)
Tax Total
Receipts Town General
Flow to Sales Tax @
TIRZ Through TIRZ Fund 1.00%
Year Dec. 31, by May 1, from Schedule 9)%Amount
Base 2012 2013 $0 0%$0
1 2013 2014 $0 25%$0
2 2014 2015 $0 25%$0
3 2015 2016 $20,091 25%$5,023
4 2016 2017 $184,784 25%$46,196
5 2017 2018 $314,951 25%$78,738
6 2018 2019 $374,518 25%$93,630
7 2019 2020 $438,175 25% $109,544
8 2020 2021 $580,145 25% $145,036
9 2021 2022 $1,040,407 25% $260,102
10 2022 2023 $1,233,515 25% $308,379
11 2023 2024 $1,442,116 25% $360,529
12 2024 2025 $1,585,460 25% $396,365
13 2025 2026 $1,663,096 25% $415,774
14 2026 2027 $1,681,978 25% $420,495
15 2027 2028 $1,766,648 25% $441,662
16 2028 2029 $1,702,673 25% $425,668
17 2029 2030 $1,719,700 25% $429,925
18 2030 2031 $1,736,897 25% $434,224
19 2031 2032 $1,754,266 25% $438,567
20 2032 2033 $1,771,809 25% $442,952
21 2033 2034 $1,789,527 25% $447,382
22 2034 2035 $1,807,422 25% $451,856
23 2035 2036 $1,825,496 25% $456,374
24 2036 2037 $1,843,751 25% $460,938
25 2037 2038 $1,862,189 25% $465,547
26 2038 2039 $1,880,811 0%$0
27 2039 2040 $1,899,619 0%$0
28 2040 2041 $1,918,615 0%$0
29 2041 2042 $1,937,801 0%$0
30 2042 2043 $1,957,179 0%$0
31 2043 2044 $1,976,751 0%$0
32 2044 2045 $1,996,518 0%$0
33 2045 2046 $2,016,484 0%$0
34 2046 2047 $2,036,648 0%$0
35 2047 2048 $2,057,015 0%$0
36 2048 2049 $2,077,585 0%$0
37 2049 2050 $2,098,361 0%$0
38 2050 2051 $2,119,344 0%$0
39 2051 2052 $2,140,538 0%$0
40 2052 2053 $2,161,943 0%$0
Total for Years 1-40 $60,414,827 $7,534,904
to the TIRZ Fund
of General Sales Tax
Town Commitment
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 24
Schedule 11:
Forecast of Prosper EDC 4A Sales Tax Grants for Prosper West Infrastructure
Notes and assumptions:
The Prosper Economic Development Corporation ("PEDC") agrees to pay $500,000 to Athlos Prosper Fund I, LP ("Company") in early 2013.
The PEDC agrees to pay an additional $2,500,000 to Company, provided Company expends a total of $3,000,000 for infrastructure and meets
other standards of performance.
After the initial payment in 2013, the PEDC is not required to pay Company from sources other than 50% of 4A sales tax receipts attributed to the TIRZ
unless the PEDC obligation has not been retired after fifteen years.
The PEDC will pay simple interest on the balance owed to Company at these annual rates:
Through year 5 1.5%
Year 6 forward Prime plus 2%, not to exceed 4.5%
After year 15, the PEDC will pay 50% of annual 4A sales tax receipts from the TIRZ as further grants for economic development of the TIRZ.
(a) (b) (c)(d)(e)(f)(g)(h)(i)
Assume Total Estimated Estimated Interest Accrued Balance of After Year 15,
Tax Receipts 4A Sales Tax @ PEDC Payment Principal Owed on Previous Year 4A Sales Tax PEDC Grants
Flow to 0.50%to Company to Company by PEDC Principal Not Applied 50%
TIRZ Through Recipients from TIRZ by April 1 per Initial on April 1 of Balance Owed to Initial Incentive of 4A Sales Tax
Year Dec. 31, by April 1, (from Schedule 9) Incentive Agreement Column (c) Year to Company @ Agreement for TIRZ Improvements
Base 2012 2013 $0 $500,000 $0 $0 $0 $0
1 2013 2014 $0 $0 $0 $0 $0 $0
2 2014 2015 $0 $0 $2,500,000 $0 $0 $0
3 2015 2016 $10,045 $5,023 $2,532,477 $37,500 $5,023 $0
4 2016 2017 $92,392 $46,196 $2,524,269 $37,987 $46,196 $0
5 2017 2018 $157,476 $78,738 $2,483,395 $37,864 $78,738 $0
6 2018 2019 $187,259 $93,630 $2,501,518 $111,753 $93,630 $0
7 2019 2020 $219,088 $109,544 $2,504,542 $112,568 $109,544 $0
8 2020 2021 $290,073 $145,036 $2,472,211 $112,704 $145,036 $0
9 2021 2022 $520,204 $260,102 $2,323,358 $111,249 $260,102 $0
10 2022 2023 $616,757 $308,379 $2,119,531 $104,551 $308,379 $0
11 2023 2024 $721,058 $360,529 $1,854,380 $95,379 $360,529 $0
12 2024 2025 $792,730 $396,365 $1,541,463 $83,447 $396,365 $0
13 2025 2026 $831,548 $415,774 $1,195,054 $69,366 $415,774 $0
14 2026 2027 $840,989 $420,495 $828,337 $53,777 $420,495 $0
15 2027 2028 $883,324 $441,662 $423,951 $37,275 $441,662 $0
16 2028 2029 $851,337 $425,668 $17,360 $19,078 $425,668 $0
17 2029 2030 $859,850 $18,141 $0 $781 $841,709 $429,925
18 2030 2031 $868,449 $0 $0 $0 $868,449 $434,224
19 2031 2032 $877,133 $0 $0 $0 $877,133 $438,567
20 2032 2033 $885,904 $0 $0 $0 $885,904 $442,952
21 2033 2034 $894,763 $0 $0 $0 $894,763 $447,382
22 2034 2035 $903,711 $0 $0 $0 $903,711 $451,856
23 2035 2036 $912,748 $0 $0 $0 $912,748 $456,374
24 2036 2037 $921,876 $0 $0 $0 $921,876 $460,938
25 2037 2038 $931,094 $0 $0 $0 $931,094 $465,547
26 2038 2039 $940,405 $0 $0 $0 $940,405 $0
27 2039 2040 $949,809 $0 $0 $0 $949,809 $0
28 2040 2041 $959,307 $0 $0 $0 $959,307 $0
29 2041 2042 $968,901 $0 $0 $0 $968,901 $0
30 2042 2043 $978,590 $0 $0 $0 $978,590 $0
31 2043 2044 $988,375 $0 $0 $0 $988,375 $0
32 2044 2045 $998,259 $0 $0 $0 $998,259 $0
33 2045 2046 $1,008,242 $0 $0 $0 $1,008,242 $0
34 2046 2047 $1,018,324 $0 $0 $0 $1,018,324 $0
35 2047 2048 $1,028,507 $0 $0 $0 $1,028,507 $0
36 2048 2049 $1,038,793 $0 $0 $0 $1,038,793 $0
37 2049 2050 $1,049,180 $0 $0 $0 $1,049,180 $0
38 2050 2051 $1,059,672 $0 $0 $0 $1,059,672 $0
39 2051 2052 $1,070,269 $0 $0 $0 $1,070,269 $0
40 2052 2053 $1,080,972 $0 $0 $0 $1,080,972 $0
Total for Years 1-40 $30,207,413 $3,525,281 $1,025,281 $26,682,133 $4,027,764
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 25
Schedule 12:
Prospective Cash Flow for Prosper West Infrastructure from All Local Public Sources
Notes:Town of Prosper "rollback" tax from converting agricultural land in the TIRZ to non-agricultural use flows to the TIRZ fund. If paid in 2015, estimated rollback tax value
is $500,000. This amount is added in this schedule to 2016 TIRZ fund receipts from Town real property tax.
Actual cash flow depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast.
Prosper and the PEDC will execute development agreements stipulating obligations of the parties before disbursement of cash from these sources.
Uses for these various taxes and grants are limited to items specified by Texas law and may be further limited by Town or County agreements.
Development fees and impact fees paid in the TIRZ may fund a grant for economic development by the Town. These reimbursements are not shown in this schedule.
(a) (b) (c)(d)(e)(f)(g)(h)(i)(j)(k)
PEDC PEDC
Tax Town Collin County Town Grants of 4A Grants of 4A 2013 Present Value
For Receipts Real Property Real Property General Sales Tax Sales Tax Prospective of Cumulative
Appraisals Flow to Tax Tax Sales Tax per Initial per Second Total for Grand Total,
on Jan. 1, the TIRZ or Increments Increments Increments Incentive Incentive Prosper West If Annually
TIRZ or Sales in Recipient (From (From (From Total to Agreement Agreement During Discounted @
Year Calendar by May 1, Schedule 4) Schedule 5) Schedule 10)TIRZ Fund (from Schedule 11) (from Schedule 11)TIRZ Term 3.50%
Base 2012 2013 $0 $0 $0 $0 $500,000 $0 $500,000 $500,000
1 2013 2014 $0 $0 $0 $0 $0 $0 $0 $500,000
2 2014 2015 $1 $0 $0 $1 $0 $0 $1 $500,001
3 2015 2016 $567,645 $22,300 $5,023 $594,968 $5,023 $0 $599,991 $1,041,159
4 2016 2017 $98,452 $32,457 $46,196 $177,105 $46,196 $0 $223,301 $1,235,752
5 2017 2018 $173,511 $57,201 $78,738 $309,450 $78,738 $0 $388,188 $1,562,596
6 2018 2019 $273,106 $90,035 $93,630 $456,771 $93,630 $0 $550,400 $2,010,347
7 2019 2020 $380,983 $125,599 $109,544 $616,126 $109,544 $0 $725,670 $2,580,717
8 2020 2021 $429,951 $141,742 $145,036 $716,730 $145,036 $0 $861,766 $3,235,152
9 2021 2022 $549,509 $181,157 $260,102 $990,768 $260,102 $0 $1,250,870 $4,152,954
10 2022 2023 $814,926 $268,657 $308,379 $1,391,962 $308,379 $0 $1,700,341 $5,358,358
11 2023 2024 $1,018,754 $335,853 $360,529 $1,715,137 $360,529 $0 $2,075,666 $6,780,076
12 2024 2025 $1,270,286 $418,776 $396,365 $2,085,426 $396,365 $0 $2,481,791 $8,422,484
13 2025 2026 $1,412,480 $465,653 $415,774 $2,293,906 $415,774 $0 $2,709,680 $10,155,065
14 2026 2027 $1,556,566 $513,154 $420,495 $2,490,215 $420,495 $0 $2,910,709 $11,953,248
15 2027 2028 $1,688,123 $556,524 $441,662 $2,686,309 $441,662 $0 $3,127,971 $13,820,305
16 2028 2029 $1,705,006 $562,090 $425,668 $2,692,764 $425,668 $0 $3,118,432 $15,618,723
17 2029 2030 $1,722,057 $567,711 $429,925 $2,719,693 $18,141 $411,784 $3,149,618 $17,373,702
18 2030 2031 $1,739,278 $573,388 $434,224 $2,746,891 $0 $434,224 $3,181,115 $19,086,291
19 2031 2032 $1,756,672 $579,123 $438,567 $2,774,361 $0 $438,567 $3,212,928 $20,757,513
20 2032 2033 $1,774,240 $584,914 $442,952 $2,802,106 $0 $442,952 $3,245,059 $22,388,369
21 2033 2034 $1,791,983 $590,764 $447,382 $2,830,129 $0 $447,382 $3,277,511 $23,979,833
22 2034 2035 $1,809,904 $596,672 $451,856 $2,858,432 $0 $451,856 $3,310,287 $25,532,856
23 2035 2036 $1,828,004 $602,639 $456,374 $2,887,017 $0 $456,374 $3,343,391 $27,048,367
24 2036 2037 $1,846,286 $608,666 $460,938 $2,915,889 $0 $460,938 $3,376,827 $28,527,273
25 2037 2038 $1,864,750 $614,753 $465,547 $2,945,049 $0 $465,547 $3,410,596 $29,970,456
26 2038 2039 $0 $0 $0 $0 $0 $0 $0 $29,970,456
27 2039 2040 $0 $0 $0 $0 $0 $0 $0 $29,970,456
28 2040 2041 $0 $0 $0 $0 $0 $0 $0 $29,970,456
29 2041 2042 $0 $0 $0 $0 $0 $0 $0 $29,970,456
30 2042 2043 $0 $0 $0 $0 $0 $0 $0 $29,970,456
31 2043 2044 $0 $0 $0 $0 $0 $0 $0 $29,970,456
32 2044 2045 $0 $0 $0 $0 $0 $0 $0 $29,970,456
33 2045 2046 $0 $0 $0 $0 $0 $0 $0 $29,970,456
Total for Base through Duration $28,072,475 $9,089,827 $7,534,904 $44,697,206 $4,025,281 $4,009,623 $52,732,109
% to TIRZ, according to source 63%20% 17% 100%
% of total prospective public funds invested,
according to source 53%17% 14% 85%8%8%100%
Tax to the TIRZ Fund
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 26
Schedule 13:
Tax from Prosper West Retained for Prosper General Fund and Prosper EDC
Notes:Town of Prosper rollback taxes due to switching from agricultural production value to market value flow to the TIRZ fund.
Actual cash flow depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast.
(a) (b)(c)(d)(e)(f)(g)(h)(i)
For Appraisals Tax Receipts Total Tax Tax from TIRZ
on Jan. 1,Flow to TIRZ Fund Business Property Tax Retained Retained
TIRZ or Sales in or Recipient Real Personal General Relief For Town for Prosper
Year Calendar by May 1, Property Tax Property Tax Sales Tax Sales Tax General Fund EDC
Base 2012 2013 $153 $0 $0 $0 $153 $0
1 2013 2014 $153 $0 $0 $0 $153 $0
2 2014 2015 $153 $0 $0 $0 $153 $0
3 2015 2016 $29,144 $0 $15,068 $10,045 $54,257 $5,023
4 2016 2017 $42,347 $6,622 $138,588 $92,392 $279,948 $46,196
5 2017 2018 $74,515 $24,475 $236,213 $157,476 $492,678 $78,738
6 2018 2019 $117,198 $32,183 $280,889 $187,259 $617,529 $93,630
7 2019 2020 $163,432 $42,343 $328,632 $219,088 $753,494 $109,544
8 2020 2021 $184,418 $49,934 $435,109 $290,073 $959,534 $145,036
9 2021 2022 $235,657 $63,076 $780,305 $520,204 $1,599,242 $260,102
10 2022 2023 $349,407 $119,885 $925,136 $616,757 $2,011,186 $308,379
11 2023 2024 $436,762 $136,297 $1,081,587 $721,058 $2,375,705 $360,529
12 2024 2025 $544,561 $179,460 $1,189,095 $792,730 $2,705,846 $396,365
13 2025 2026 $605,501 $210,338 $1,247,322 $831,548 $2,894,709 $415,774
14 2026 2027 $667,253 $220,513 $1,261,484 $840,989 $2,990,239 $420,495
15 2027 2028 $723,634 $231,981 $1,324,986 $883,324 $3,163,925 $441,662
16 2028 2029 $730,870 $234,301 $1,277,005 $851,337 $3,093,512 $425,668
17 2029 2030 $738,177 $236,644 $1,289,775 $859,850 $3,124,447 $411,784
18 2030 2031 $745,558 $239,011 $1,302,673 $868,449 $3,155,690 $434,224
19 2031 2032 $753,012 $241,401 $1,315,700 $877,133 $3,187,246 $438,567
20 2032 2033 $760,542 $243,815 $1,328,857 $885,904 $3,219,117 $442,952
21 2033 2034 $768,146 $246,253 $1,342,145 $894,763 $3,251,307 $447,382
22 2034 2035 $775,826 $248,715 $1,355,567 $903,711 $3,283,819 $451,856
23 2035 2036 $783,583 $251,203 $1,369,122 $912,748 $3,316,656 $456,374
24 2036 2037 $791,418 $253,715 $1,382,813 $921,876 $3,349,822 $460,938
25 2037 2038 $799,331 $256,252 $1,396,642 $931,094 $3,383,319 $465,547
26 2038 2039 $2,690,722 $258,814 $1,880,811 $940,405 $5,770,752 $940,405
27 2039 2040 $2,717,629 $261,402 $1,899,619 $949,809 $5,828,459 $949,809
28 2040 2041 $2,744,805 $264,016 $1,918,615 $959,307 $5,886,744 $959,307
29 2041 2042 $2,772,253 $266,657 $1,937,801 $968,901 $5,945,611 $968,901
30 2042 2043 $2,799,976 $269,323 $1,957,179 $978,590 $6,005,068 $978,590
31 2043 2044 $2,827,975 $272,016 $1,976,751 $988,375 $6,065,118 $988,375
32 2044 2045 $2,856,255 $274,737 $1,996,518 $998,259 $6,125,769 $998,259
33 2045 2046 $2,884,818 $277,484 $2,016,484 $1,008,242 $6,187,027 $1,008,242
34 2046 2047 $2,913,666 $280,259 $2,036,648 $1,018,324 $6,248,897 $1,018,324
35 2047 2048 $2,942,803 $283,061 $2,057,015 $1,028,507 $6,311,386 $1,028,507
36 2048 2049 $2,972,231 $285,892 $2,077,585 $1,038,793 $6,374,500 $1,038,793
37 2049 2050 $3,001,953 $288,751 $2,098,361 $1,049,180 $6,438,245 $1,049,180
38 2050 2051 $3,031,972 $291,638 $2,119,344 $1,059,672 $6,502,628 $1,059,672
39 2051 2052 $3,062,292 $294,555 $2,140,538 $1,070,269 $6,567,654 $1,070,269
40 2052 2053 $3,092,915 $297,500 $2,161,943 $1,080,972 $6,633,330 $1,080,972
Total for years 1-40 $55,132,864 $7,934,523 $52,879,923 $30,207,413 $146,154,724 $22,654,368
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 27
Schedule 14:
Tax from Prosper West Retained for Collin County
Notes:This schedule omits the value of rollback real property taxes from the TIRZ that Collin County may retain.
Actual cash flow depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast.
(a)(b)(c)(d)(e)(f)
For Appraisals on
TIRZ Jan. 1,Tax Receipts Flow Real Business Personal
Year or Sales in Calendar to TIRZ Fund by May 1,Property Tax Property Tax Total Tax
Base 2012 2013 $71 $0 $71
1 2013 2014 $71 $0 $71
2 2014 2015 $71 $0 $71
3 2015 2016 $22,371 $0 $22,371
4 2016 2017 $32,527 $3,056 $35,584
5 2017 2018 $57,272 $11,296 $68,568
6 2018 2019 $90,106 $14,854 $104,959
7 2019 2020 $125,670 $19,543 $145,212
8 2020 2021 $141,813 $23,047 $164,859
9 2021 2022 $181,228 $29,112 $210,339
10 2022 2023 $268,728 $55,332 $324,059
11 2023 2024 $335,924 $62,906 $398,830
12 2024 2025 $418,846 $82,828 $501,674
13 2025 2026 $465,723 $97,079 $562,802
14 2026 2027 $513,224 $101,775 $615,000
15 2027 2028 $556,595 $107,068 $663,663
16 2028 2029 $562,160 $108,139 $670,299
17 2029 2030 $567,782 $109,220 $677,002
18 2030 2031 $573,459 $110,313 $683,772
19 2031 2032 $579,193 $111,416 $690,609
20 2032 2033 $584,985 $112,530 $697,515
21 2033 2034 $590,834 $113,655 $704,490
22 2034 2035 $596,742 $114,792 $711,534
23 2035 2036 $602,709 $115,940 $718,649
24 2036 2037 $608,736 $117,099 $725,835
25 2037 2038 $614,823 $118,270 $733,093
26 2038 2039 $1,241,872 $119,453 $1,361,324
27 2039 2040 $1,254,290 $120,647 $1,374,938
28 2040 2041 $1,266,833 $121,854 $1,388,687
29 2041 2042 $1,279,501 $123,072 $1,402,574
30 2042 2043 $1,292,296 $124,303 $1,416,599
31 2043 2044 $1,305,219 $125,546 $1,430,765
32 2044 2045 $1,318,272 $126,801 $1,445,073
33 2045 2046 $1,331,454 $128,070 $1,459,524
34 2046 2047 $1,344,769 $129,350 $1,474,119
35 2047 2048 $1,358,217 $130,644 $1,488,860
36 2048 2049 $1,371,799 $131,950 $1,503,749
37 2049 2050 $1,385,517 $133,270 $1,518,786
38 2050 2051 $1,399,372 $134,602 $1,533,974
39 2051 2052 $1,413,366 $135,948 $1,549,314
40 2052 2053 $1,427,499 $137,308 $1,564,807
Total for years 1-40 $29,081,868 $3,662,088 $32,743,956
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 28
Schedule 15:
Forecast of Prosper ISD Taxes from the TIRZ
Notes:Base value of the TIRZ assumes the 2012 taxable value.
Annual forecasts of taxable values added to the roll in 2012 dollars are calculated in a separate schedule. Values are adjusted for inflation in this schedule.
The increase in appraised value as of January 1, 2015 assumes all properties are appraised as non-agricultural land for that year.
Annual forecasts of taxable value of land and improvements associated with developed property (in 2012 dollars plus assumed inflation) are added to the tax roll on Jan. 1 following assumed completions.
The 2012 tax rate is assumed constant. Actual rates will be set annually.
No tax abatements or tax exemptions have been assumed.
(a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n)
Appraisal Before Forecast CCAD Appraisal Total Taxable Appraisal Without Forecast CCAD Appraisal
Improvements of Improved Properties Real Property in Structures Due to Personal Property Cumulative
Added This Year;Added to Roll This Year,Property Prosper ISD Completed This Year;Added This Year,BPP Prosper ISD Total Prosper ISD
Property If Post-completion If Inflated Appraisal Real Property Post-completion If Inflated Appraisal BPP Appraisal Total Property
Appraised Tax Deposited Appraisals Rise 2.00%Total Tax @ Appraisals Rise 2.00%Total Tax @ Forecast Prosper ISD Tax
TIRZ Value for to TIRZ Fund 1.00%Annually from 1/1/13 for Jan. 1 $1.67 1.00%Annually from 1/1/13 for Jan. 1 $1.67 for Jan. 1 Property After
Year Jan. 1, by May 1, Annually After 1/1/13 Through Year Added of This Year per $100 Annually After 1/1/13 Through This Year of This Year per $100 of This Year Tax Base Year
Base 2012 2013 $0 $29,413 $491 $0 $0 $0 $0 $29,413 $491
1 2013 2014 $29,413 $0 $29,413 $491 $0 $0 $0 $0 $29,413 $491 $491
2 2014 2015 $29,707 $0 $29,707 $496 $0 $0 $0 $0 $29,707 $496 $987
3 2015 2016 $30,004 $18,583,155 $18,613,160 $310,840 $0 $0 $0 $0 $18,613,160 $310,840 $311,827
4 2016 2017 $18,799,291 $8,277,422 $27,076,714 $452,181 $0 $1,273,450 $1,273,450 $21,267 $28,350,163 $473,448 $785,275
5 2017 2018 $27,347,481 $20,349,725 $47,697,205 $796,543 $1,286,184 $3,420,486 $4,706,670 $78,601 $52,403,875 $875,145 $1,660,420
6 2018 2019 $48,174,177 $26,884,368 $75,058,545 $1,253,478 $4,753,736 $1,435,305 $6,189,041 $103,357 $81,247,587 $1,356,835 $3,017,254
7 2019 2020 $75,809,130 $28,886,066 $104,695,197 $1,748,410 $6,250,932 $1,891,953 $8,142,885 $135,986 $112,838,081 $1,884,396 $4,901,650
8 2020 2021 $105,742,149 $12,405,805 $118,147,954 $1,973,071 $8,224,314 $1,378,423 $9,602,736 $160,366 $127,750,690 $2,133,437 $7,035,087
9 2021 2022 $119,329,433 $31,664,095 $150,993,528 $2,521,592 $9,698,764 $2,431,193 $12,129,957 $202,570 $163,123,485 $2,724,162 $9,759,249
10 2022 2023 $152,503,463 $71,406,781 $223,910,244 $3,739,301 $12,251,257 $10,803,637 $23,054,893 $385,017 $246,965,138 $4,124,318 $13,883,567
11 2023 2024 $226,149,347 $53,757,654 $279,907,001 $4,674,447 $23,285,442 $2,925,587 $26,211,029 $437,724 $306,118,030 $5,112,171 $18,995,738
12 2024 2025 $282,706,071 $66,302,935 $349,009,006 $5,828,450 $26,473,139 $8,038,415 $34,511,554 $576,343 $383,520,560 $6,404,793 $25,400,531
13 2025 2026 $352,499,096 $35,574,182 $388,073,278 $6,480,824 $34,856,670 $5,592,946 $40,449,616 $675,509 $428,522,894 $7,156,332 $32,556,863
14 2026 2027 $391,954,011 $35,703,543 $427,657,554 $7,141,881 $40,854,112 $1,552,328 $42,406,440 $708,188 $470,063,994 $7,850,069 $40,406,932
15 2027 2028 $431,934,129 $31,865,412 $463,799,542 $7,745,452 $42,830,504 $1,781,296 $44,611,801 $745,017 $508,411,342 $8,490,469 $48,897,402
16 2028 2029 $468,437,537 $0 $468,437,537 $7,822,907 $45,057,919 $0 $45,057,919 $752,467 $513,495,456 $8,575,374 $57,472,776
17 2029 2030 $473,121,912 $0 $473,121,912 $7,901,136 $45,508,498 $0 $45,508,498 $759,992 $518,630,410 $8,661,128 $66,133,904
18 2030 2031 $477,853,131 $0 $477,853,131 $7,980,147 $45,963,583 $0 $45,963,583 $767,592 $523,816,714 $8,747,739 $74,881,643
19 2031 2032 $482,631,663 $0 $482,631,663 $8,059,949 $46,423,219 $0 $46,423,219 $775,268 $529,054,882 $8,835,217 $83,716,859
20 2032 2033 $487,457,979 $0 $487,457,979 $8,140,548 $46,887,451 $0 $46,887,451 $783,020 $534,345,430 $8,923,569 $92,640,428
21 2033 2034 $492,332,559 $0 $492,332,559 $8,221,954 $47,356,325 $0 $47,356,325 $790,851 $539,688,885 $9,012,804 $101,653,232
22 2034 2035 $497,255,885 $0 $497,255,885 $8,304,173 $47,829,889 $0 $47,829,889 $798,759 $545,085,773 $9,102,932 $110,756,165
23 2035 2036 $502,228,444 $0 $502,228,444 $8,387,215 $48,308,188 $0 $48,308,188 $806,747 $550,536,631 $9,193,962 $119,950,126
24 2036 2037 $507,250,728 $0 $507,250,728 $8,471,087 $48,791,270 $0 $48,791,270 $814,814 $556,041,998 $9,285,901 $129,236,028
25 2037 2038 $512,323,235 $0 $512,323,235 $8,555,798 $49,279,182 $0 $49,279,182 $822,962 $561,602,418 $9,378,760 $138,614,788
26 2038 2039 $517,446,468 $0 $517,446,468 $8,641,356 $49,771,974 $0 $49,771,974 $831,192 $567,218,442 $9,472,548 $148,087,336
27 2039 2040 $522,620,932 $0 $522,620,932 $8,727,770 $50,269,694 $0 $50,269,694 $839,504 $572,890,626 $9,567,273 $157,654,610
28 2040 2041 $527,847,142 $0 $527,847,142 $8,815,047 $50,772,391 $0 $50,772,391 $847,899 $578,619,532 $9,662,946 $167,317,556
29 2041 2042 $533,125,613 $0 $533,125,613 $8,903,198 $51,280,115 $0 $51,280,115 $856,378 $584,405,728 $9,759,576 $177,077,131
30 2042 2043 $538,456,869 $0 $538,456,869 $8,992,230 $51,792,916 $0 $51,792,916 $864,942 $590,249,785 $9,857,171 $186,934,303
31 2043 2044 $543,841,438 $0 $543,841,438 $9,082,152 $52,310,845 $0 $52,310,845 $873,591 $596,152,283 $9,955,743 $196,890,046
32 2044 2045 $549,279,852 $0 $549,279,852 $9,172,974 $52,833,953 $0 $52,833,953 $882,327 $602,113,806 $10,055,301 $206,945,347
33 2045 2046 $554,772,651 $0 $554,772,651 $9,264,703 $53,362,293 $0 $53,362,293 $891,150 $608,134,944 $10,155,854 $217,101,200
34 2046 2047 $560,320,377 $0 $560,320,377 $9,357,350 $53,895,916 $0 $53,895,916 $900,062 $614,216,293 $10,257,412 $227,358,612
35 2047 2048 $565,923,581 $0 $565,923,581 $9,450,924 $54,434,875 $0 $54,434,875 $909,062 $620,358,456 $10,359,986 $237,718,598
36 2048 2049 $571,582,817 $0 $571,582,817 $9,545,433 $54,979,224 $0 $54,979,224 $918,153 $626,562,041 $10,463,586 $248,182,184
37 2049 2050 $577,298,645 $0 $577,298,645 $9,640,887 $55,529,016 $0 $55,529,016 $927,335 $632,827,661 $10,568,222 $258,750,406
38 2050 2051 $583,071,632 $0 $583,071,632 $9,737,296 $56,084,306 $0 $56,084,306 $936,608 $639,155,938 $10,673,904 $269,424,311
39 2051 2052 $588,902,348 $0 $588,902,348 $9,834,669 $56,645,149 $0 $56,645,149 $945,974 $645,547,497 $10,780,643 $280,204,954
40 2052 2053 $594,791,371 $0 $594,791,371 $9,933,016 $57,211,601 $0 $57,211,601 $955,434 $652,002,972 $10,888,450 $291,093,403
Total for years 1-40 $441,661,143 $265,611,377 $42,525,018 $25,482,027 $291,093,403
Business Personal Property Total PropertyReal Property
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 29
Appendix A:
Road Improvement Details
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.2 $1,680.00
2 Excavation ( 3' in depth width of ROW )CY $2.75 7,467 $20,534
3 Drainage LF $300.00 420 $126,000
4 10"-3600 PSI concrete street pavement (37' BB)SY $65.00 3,453 $224,445
5 8" HMAC base material SY $40.00 3,453 $138,120
6 12"(66lbs./sy) lime stabilized subgrade SY $5.50 3,640 $20,020
7 Hydrated lime material TN $175.00 120 $21,000
8 Barrier free ramps EA $1,250.00 8 $10,000
9 Street signs EA $650.00 4 $2,600
10 6' wide concrete sidewalk SF $4.00 5,040 $20,160
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
12 Testing SY $0.90 3,640 $3,276
13 Payment, performance & maintenance bonds LS 3.00%1 $17,635
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$605,470
Units Cost Quantity Total
Length of Street (LF)
1 Erosion control measures STA $400.00 27.0 $10,800.00
2 Excavation ( 3' in depth width of ROW )CY $2.75 27,000 $74,250
3 Drainage LF $100.00 2,700 $270,000
4 10"-3600 PSI concrete street pavement (37' BB)SY $65.00 11,831 $769,015
5 8" HMAC base material SY $40.00 11,831 $473,240
6 12"(66lbs./sy) lime stabilized subgrade SY $5.50 3,640 $20,020
7 Hydrated lime material TN $175.00 412 $72,100
8 Barrier free ramps EA $1,250.00 2 $2,500
9 Street signs EA $650.00 3 $1,950
10 6' wide concrete sidewalk SF $4.00 32,400 $129,600
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
12 Testing SY $0.90 3,640 $3,276
13 Payment, performance & maintenance bonds LS 3.00%1 $54,803
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$1,881,554
Units Cost Quantity Total
Length of Street (LF)
1 Erosion control measures STA $400.00 21.6 $8,620.00
2 Excavation ( 3' in depth width of ROW )CY $2.75 21,550 $59,263
3 Drainage LF $100.00 2,155 $215,500
4 10"-3600 PSI concrete street pavement (37' B-B)SY $65.00 10,990 $714,350
5 8" HMAC base material SY $40.00 10,990 $439,600
6 12"(66lbs./sy) lime stabilized subgrade SY $5.50 3,640 $20,020
7 Hydrated lime material TN $175.00 382 $66,850
8 Barrier free ramps EA $1,250.00 4 $5,000
9 Street signs EA $650.00 3 $1,950
10 6' wide concrete sidewalk SF $4.00 25,860 $103,440
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
12 Testing SY $0.90 3,640 $3,276
13 Payment, performance & maintenance bonds LS 3.00%1 $49,136
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$1,687,005
Capital Imps. Program
N2 WESTSIDE TOLLWAY SERVICE DRIVE (NORTH)Capital Imps. Program
420
TOTAL COST OF N1 WESTSIDE TOLLWAY SERVICE DR.
K2 MIDDLE TOLLWAY CROSSING (160' RIGHT OF WAY)
N1 WESTSIDE TOLLWAY SERVICE DRIVE (SOUTH)
2,700
TOTAL COST OF K2 MIDDLE TOLLWAY CROSSING
Capital Imps. Program
2,155
TOTAL COST OF N2 WESTSIDE TOLLWAY SERVICE DR.
ENGINEER'S OPINION OF PROBABLE COST, PREPARED BY JBI PARTNERS, INC. ON NOV. 14, 2012
NORTHWEST CORNER OF US380 AND DNT, PROSPER, TEXAS JBI PROJECT NO. ATH003
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 30
Appendix A:
Road Improvement Details
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 11.1 $4,440.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 7,400 $20,350
3 Drainage LF $200.00 1,110 $222,000
4 8"-3600 PSI concrete street pavement SY $48.00 7,627 $366,096
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 8,237 $22,652
6 Hydrated lime material TN $175.00 136 $23,800
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 13,320 $53,280
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 8,237 $7,413
12 Payment, performance & maintenance bonds LS 3.00%1 $21,640
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$742,971
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.5 $1,800.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,000 $8,250
3 Drainage LF $300.00 450 $135,000
4 8"-3600 PSI concrete street pavement SY $48.00 3,495 $167,760
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,775 $10,381
6 Hydrated lime material TN $175.00 62 $10,850
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 1 $650
9 6' wide concrete sidewalk SF $4.00 5,400 $21,600
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 3,775 $3,398
12 Payment, performance & maintenance bonds LS 3.00%1 $10,791
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$370,479
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 9.0 $3,600.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 6,000 $16,500
3 Drainage LF $100.00 900 $90,000
4 8"-3600 PSI concrete street pavement SY $48.00 6,663 $319,824
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 7,196 $19,789
6 Hydrated lime material TN $175.00 119 $20,825
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 1 $650
9 6' wide concrete sidewalk SF $4.00 10,800 $43,200
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 7,196 $6,476
12 Payment, performance & maintenance bonds LS 3.00%1 $15,626
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$536,490
Capital Imps. Program
2 - 25' B-B with median
450
900
SUBTOTAL
SUBTOTAL
K5 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE
2 - 25' B-B with median
K4 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE
2 - 25' B-B with median
1,110
K3 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE Capital Imps. Program
TOTAL COST OF "K3" AT LOVERS LANE
Capital Imps. Program
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 31
Appendix A:
Road Improvement Details
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 19.8 $7,920.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 13,200 $36,300
3 Drainage LF $200.00 1,980 $396,000
4 8"-3600 PSI concrete street pavement SY $48.00 10,972 $526,656
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 11,850 $32,588
6 Hydrated lime material TN $175.00 196 $34,300
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 23,760 $95,040
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 11,850 $10,665
12 Payment, performance & maintenance bonds LS 3.00%1 $34,223
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$1,174,992
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 19.2 $7,680.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 12,800 $35,200
3 Drainage LF $100.00 1,920 $192,000
4 8"-3600 PSI concrete street pavement SY $48.00 11,108 $533,184
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 11,997 $32,992
6 Hydrated lime material TN $175.00 198 $34,650
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 23,040 $92,160
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 11,997 $10,797
12 Payment, performance & maintenance bonds LS 3.00%1 $28,199
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$968,162
$2,618,103
J3
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 8.6 $3,440.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 5,733 $15,767
3 Drainage LF $300.00 860 $258,000
4 8"-3600 PSI concrete street pavement (37' B-B)SY $48.00 5,945 $285,360
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,421 $17,658
6 Hydrated lime material TN $175.00 106 $18,550
7 Barrier free ramps EA $1,250.00 2 $2,500
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 10,320 $41,280
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 6,421 $5,779
12 Payment, performance & maintenance bonds LS 3.00%1 $19,489
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$669,122
TOTAL COST OF K3, K4, K5, & K7
K6 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE
2 - 25' B-B with median
1,980
1,920
SUBTOTAL
SUBTOTAL
K7 NORTH/SOUTH (4 LANES 90' RIGHT OF WAY) LOVERS LANE
2 - 25' B-B with median
Capital Imps. Program
Capital Imps. Program
2 - 25' B-B with median
860
SUBTOTAL
Capital Imps. Program
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 32
Appendix A:
Road Improvement Details
J4
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 8.5 $3,400.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 5,667 $15,583
3 Drainage LF $300.00 850 $255,000
4 8"-3600 PSI concrete street pavement (37' B-B)SY $48.00 5,982 $287,136
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,461 $17,768
6 Hydrated lime material TN $175.00 107 $18,725
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 2 $1,300
9 6' wide concrete sidewalk SF $4.00 10,200 $40,800
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 6,461 $5,815
12 Payment, performance & maintenance bonds LS 3.00%1 $19,366
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$664,893
J5
Units Cost Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 11.1 $4,440.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 7,400 $20,350
3 Drainage LF $200.00 1,110 $222,000
4 8"-3600 PSI concrete street pavement (37' B-B)SY $48.00 6,334 $304,032
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,841 $18,813
6 Hydrated lime material TN $175.00 113 $19,775
7 Barrier free ramps EA $1,250.00 0 $0
8 Street signs EA $650.00 3 $1,950
9 6' wide concrete sidewalk SF $4.00 13,320 $53,280
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0
11 Testing SY $0.90 6,841 $6,157
12 Payment, performance & maintenance bonds LS 3.00%1 $19,524
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0
$670,321
$2,004,336
Street "A5"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.8 $1,520.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,449 $6,735 0 $0.00
3 Drainage LF $100.00 380 $38,000 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 2,060 $98,880 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,225 $6,119 0 $0.00
7 Hydrated lime material TN $175.00 37 $6,475 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,560 $18,240 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,560 $18,240.00
12 Testing SY $0.90 2,225 $2,003 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,339 1 $736
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 26 $31,200
$183,310 $56,476
Public
2-25' B-B
EnhancementPublic
SUBTOTAL
STREET "A"
380 2-25' B-B
SUBTOTAL
Capital Imps. Program
TOTAL COST OF STREET "J"
Segment J5
1,110
2 - 25' B-B with median
850
SUBTOTAL
Capital Imps. Program
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 33
Appendix A:
Road Improvement Details
Street "A4"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 5.9 $2,340.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 5,503 $15,134 0 $0.00
3 Drainage LF $100.00 585 $58,500 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 3,250 $156,000 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 2,611 $104,440 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,330 $17,408 0 $0.00
7 Hydrated lime material TN $175.00 104 $18,200 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 8 $10,000.00
9 Street signs EA $650.00 0 $0 4 $2,600.00
10 6' wide concrete sidewalk SF $4.00 7,020 $28,080 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 7,020 $28,080.00
12 Testing SY $0.90 6,330 $5,697 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $12,174 1 $1,220
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 40 $48,000
$417,973 $89,900
Circle "A2"Units Cost Quantity Total Quantity Total
Circumference Circle/Length of Street (LF)
1 Erosion control measures STA $400.00 4.9 $1,948.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,804 $4,960 0 $0.00
3 Drainage LF $100.00 487 $48,700 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 1,412 $67,776 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,524 $4,191 0 $0.00
7 Hydrated lime material TN $175.00 25 $4,375 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 0 $0.00
9 Street signs EA $650.00 0 $0 0 $0.00
10 6' wide concrete sidewalk SF $4.00 5,334 $21,336 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,334 $21,336.00
12 Testing SY $0.90 1,524 $1,372 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,640 1 $640
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 27 $32,400
$159,298 $54,376
Street "A3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.6 $1,440.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,387 $9,313 0 $0.00
3 Drainage LF $200.00 360 $72,000 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 2,000 $96,000 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,157 $46,280 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,410 $9,378 0 $0.00
7 Hydrated lime material TN $175.00 56 $9,800 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 8 $10,000.00
9 Street signs EA $650.00 0 $0 4 $2,600.00
10 6' wide concrete sidewalk SF $4.00 4,320 $17,280 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,320 $17,280.00
12 Testing SY $0.90 3,410 $3,069 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $7,937 1 $896
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 18 $21,600
$272,497 $52,376
25' B-B
487
2-25' B-B
2-25' B-B
Public
Enhancement
487
SUBTOTAL
585 2-25' B-B
Public
25' B-B
SUBTOTAL
360 2-25' B-B
SUBTOTAL
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 34
Appendix A:
Road Improvement Details
Street "A2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.3 $1,720.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 4,045 $11,124 0 $0.00
3 Drainage LF $200.00 430 $86,000 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 2,389 $114,672 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,358 $54,320 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 4,047 $11,129 0 $0.00
7 Hydrated lime material TN $175.00 67 $11,725 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 5,160 $20,640 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,160 $20,640.00
12 Testing SY $0.90 4,047 $3,642 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $9,449 1 $714
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 28 $33,600
$324,422 $58,104
Circle "A1"Units Cost Quantity Total Quantity Total
Circumference of Circle (LF)
Circumference Circle/Length of Street (LF)
1 Erosion control measures STA $400.00 3.9 $1,572.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,456 $4,003 0 $0.00
3 Drainage LF $100.00 393 $39,300 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 948 $45,504 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,024 $2,816 0 $0.00
7 Hydrated lime material TN $175.00 17 $2,975 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 0 $0.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,206 $16,824 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,206 $16,824.00
12 Testing SY $0.90 1,024 $922 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $3,417 1 $544
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 20 $24,000
$117,333 $42,668
Street "A1" Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 9.6 $3,840.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,911 $10,755 0 $0.00
3 Drainage LF $100.00 960 $96,000 0 $0.00
3 8"-3600 PSI concrete street pavement SY $48.00 1,387 $66,576 0 $0.00
4 6"-3600 PSI conc. parking SY $40.00 1,810 $72,400 0 $0.00
4 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,452 $9,493 0 $0.00
5 Hydrated lime material TN $175.00 57 $9,975 0 $0
5 Barrier free ramps EA $1,250.00 0 $0 8 $10,000.00
6 Street signs EA $650.00 0 $0 4 $2,600.00
6 6' wide concrete sidewalk SF $4.00 11,520 $46,080 0 $0.00
7 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 11,520 $46,080.00
7 Testing SY $0.90 3,452 $3,107 0 $0.00
8 Payment, performance & maintenance bonds LS 3.00%1 $9,547 1 $1,760
8 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 64 $76,800
$327,773 $137,240
$1,802,605 $491,141
Public
Public Enhancement
2-25' B-B
393
25' B-B
2-25' B-B
393
SUBTOTAL
TOTAL COST OF STREET " A"
960
SUBTOTAL
SUBTOTAL
430
25' B-B
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 35
Appendix A:
Road Improvement Details
Street "B-4"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.0 $1,600.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,763 $10,348 0 $0.00
3 Drainage LF $200.00 400 $80,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,111 $46,667 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,173 $46,920 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,467 $6,784 0 $0.00
7 Hydrated lime material TN $175.00 41 $7,175 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,800 $19,200 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,800 $19,200.00
12 Testing SY $0.90 2,467 $2,220 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $6,627 1 $690
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 27 $32,400
$227,542 $56,090
Circle "B1"Units Cost Quantity Total Quantity Total
Circumference of Circle (LF)
Circumference Circle/Length of Street (LF)
1 Erosion control measures STA $400.00 5.2 $2,072.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,919 $5,276 0 $0.00
3 Drainage LF $100.00 518 $51,800 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,372 $57,624 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,482 $4,076 0 $0.00
7 Hydrated lime material TN $175.00 24 $4,200 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 0 $0.00
9 Street signs EA $650.00 0 $0 0 $0.00
10 6' wide concrete sidewalk SF $4.00 5,706 $22,824 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,706 $22,824.00
12 Testing SY $0.90 1,482 $1,334 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,476 1 $685
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 28 $33,600
$153,681 $57,109
Street "B-1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 8.5 $3,400.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 5,604 $15,410 0 $0.00
3 Drainage LF $200.00 850 $170,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 2,361 $99,162 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 2,929 $117,160 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 5,712 $15,708 0 $0.00
7 Hydrated lime material TN $175.00 94 $16,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 10,200 $40,800 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 10,200 $40,800.00
12 Testing SY $0.90 5,712 $5,141 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $14,497 1 $1,413
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 56 $67,200
$497,728 $115,713
STREET "B"Public Enhancement
400 25' B-B 25' B-B
TOTAL COST OF CIRCLE " B1"
850 25' B-B 25' B-B
Public
SUBTOTAL
25' B-B 25' B-B
518 518
TOTAL COST OF STREET " B-4"
CIRCLE "B1"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 36
Appendix A:
Road Improvement Details
Street "B-2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 6.8 $2,720.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 4,483 $12,328 0 $0.00
3 Drainage LF $100.00 680 $68,000 0 $0.00
3 7"-3600 PSI concrete street pavement SY $42.00 1,889 $79,338 0 $0.00
4 6"-3600 PSI conc. parking SY $40.00 2,337 $93,480 0 $0.00
5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 4,654 $12,799 0 $0.00
6 Hydrated lime material TN $175.00 75 $13,125 0 $0
7 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
8 Street signs EA $400.00 0 $0 0 $0.00
9 6' wide concrete sidewalk SF $4.00 8,160 $32,640 0 $0.00
10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 8,160 $32,640.00
11 Testing SY $0.90 4,654 $4,189 0 $0.00
12 Payment, performance & maintenance bonds LS 3.00%1 $9,559 1 $1,054
13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 43 $51,600
$328,177 $87,794
Street "B3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.1 $1,640 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,488 $4,092 0 $0.00
3 Drainage LF $100.00 410 $41,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,139 $47,838 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,230 $3,383 0 $0.00
7 Hydrated lime material TN $175.00 20 $3,500 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 4,920 $19,680 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,920 $19,680.00
12 Testing SY $0.90 1,230 $1,107 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $3,667 1 $760
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 27 $32,400
$125,907 $58,490
$1,333,035 $375,196
Street "C2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 5.2 $2,080.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,428 $9,427 0 $0.00
3 Drainage LF $300.00 520 $156,000 0 $0.00
4 8"-3600 PSI concrete street pavement SY $48.00 1,444 $69,312 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,561 $62,440 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,560 $4,289 0 $0.00
7 Hydrated lime material TN $175.00 48 $8,400 0 $0.00
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 6,240 $24,960 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 6,240 $24,960.00
12 Testing SY $0.90 1,560 $1,404 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $10,149 1 $843
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 35 $41,600
$348,461 $70,553
STREET "C2"
TOTAL COST OF STREET " C2"
2 - 25' B-B 2 - 25' B-B
520
TOTAL COST OF STREET " B"
410 25' B-B 25' B-B
SUBTOTAL
SUBTOTAL
STREET "B"
680 25' B-B 25' B-B
Public
Public Enhancement
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 37
Appendix A:
Road Improvement Details
Street "D1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.0 $1,600.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,637 $7,252 0 $0.00
3 Drainage LF $300.00 400 $120,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,111 $46,662 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,082 $43,280 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,368 $6,512 0 $0.00
7 Hydrated lime material TN $175.00 39 $6,825 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,800 $19,200 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,800 $19,200.00
12 Testing SY $0.90 2,368 $2,131 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $7,604 1 $765
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 26 $31,200
$261,066 $57,465
Street "D2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.4 $1,360.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,241 $6,164 0 $0.00
3 Drainage LF $200.00 340 $68,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 944 $39,648 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,225 $49,000 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,343 $6,443 0 $0.00
7 Hydrated lime material TN $175.00 39 $6,825 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,080 $16,320 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,080 $16,320.00
12 Testing SY $0.90 2,343 $2,109 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,876 1 $679
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 24 $28,800
$201,745 $52,099
Street "D3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 2.0 $800.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 726 $1,996 0 $0.00
3 Drainage LF $200.00 200 $40,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 761 $31,962 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 822 $2,261 0 $0.00
7 Hydrated lime material TN $175.00 14 $2,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 2,400 $9,600 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,400 $9,600.00
12 Testing SY $0.90 822 $740 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $2,694 1 $383
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 12 $14,400
$92,503 $27,533
$555,314 $137,096
25' B-B 25' B-B
TOTAL COST OF STREET " D2"
340 25' B-B 25' B-B
STREET "D1"
400
TOTAL COST OF STREET " D1"
STREET "D2"
TOTAL COST OF STREET " D"
200
TOTAL COST OF STREET " D3"
Public Enhancement
25' B-B
Public
25' B-B
STREET "D3"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 38
Appendix A:
Road Improvement Details
Street "E1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.4 $1,760.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,770 $7,619 0 $0.00
3 Drainage LF $100.00 440 $44,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,222 $51,324 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,382 $55,280 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,812 $7,733 0 $0.00
7 Hydrated lime material TN $175.00 46 $8,050 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 6 $7,500.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 5,280 $21,120 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,280 $21,120.00
12 Testing SY $0.90 2,812 $2,531 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,982 1 $898
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 35 $42,000
$205,399 $72,818
Street "E2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.9 $1,560.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,571 $7,071 0 $0.00
3 Drainage LF $100.00 390 $39,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,083 $45,486 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,358 $54,320 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,637 $7,252 0 $0.00
7 Hydrated lime material TN $175.00 44 $7,700 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,680 $18,720 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,680 $18,720.00
12 Testing SY $0.90 2,637 $2,373 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,504 1 $751
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 26 $31,200
$188,986 $56,971
Street "E3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 2.0 $800.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 725 $1,994 0 $0.00
3 Drainage LF $100.00 200 $20,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 761 $31,962 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 822 $2,261 0 $0.00
7 Hydrated lime material TN $175.00 14 $2,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 2,400 $9,600 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,400 $9,600.00
12 Testing SY $0.90 822 $740 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $2,094 1 $383
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 13 $15,600
$71,900 $28,733
$466,285 $158,521
Public
Enhancement
STREET "E1"
200 25' B-B 25' B-B
Public
440 25' B-B 25' B-B
TOTAL COST OF STREET " E"
SUBTOTAL
390 25' B-B 25' B-B
SUBTOTAL
SUBTOTAL
STREET "E3"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 39
Appendix A:
Road Improvement Details
Street "F3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 1.9 $760.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 690 $1,896 0 $0.00
3 Drainage LF $100.00 190 $19,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 698 $29,316 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 754 $2,074 0 $0.00
7 Hydrated lime material TN $175.00 12 $2,100 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 2,280 $9,120 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,280 $9,120.00
12 Testing SY $0.90 754 $679 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $1,948 1 $368
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 12 $14,400
$66,893 $27,038
Street "F2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.0 $1,200.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,978 $5,439 0 $0.00
3 Drainage LF $100.00 300 $30,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 833 $34,986 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 962 $38,480 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,795 $4,936 0 $0.00
7 Hydrated lime material TN $175.00 32 $5,600 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 3,600 $14,400 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 3,600 $14,400.00
12 Testing SY $0.90 1,795 $1,616 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,100 1 $621
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 20 $24,000
$140,756 $45,321
Street "F1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 5.0 $2,000.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,296 $9,065 0 $0.00
3 Drainage LF $200.00 500 $100,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,389 $58,338 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,312 $52,480 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,917 $8,022 0 $0.00
7 Hydrated lime material TN $175.00 48 $8,400 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 6,000 $24,000 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 6,000 $24,000.00
12 Testing SY $0.90 2,917 $2,625 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $7,948 1 $909
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 32 $38,400
$272,878 $69,609
Public
Public Enhancement
300 25' B-B 25' B-B
25' B-B
190 25' B-B
500
25' B-B
SUBTOTAL
25' B-B
STREET "F"
SUBTOTAL
SUBTOTAL
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 40
Appendix A:
Road Improvement Details
Street "F4"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 2.6 $1,040.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 944 $2,595 0 $0.00
3 Drainage LF $100.00 260 $26,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 848 $35,616 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 916 $2,519 0 $0.00
7 Hydrated lime material TN $175.00 15 $2,625 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 3,120 $12,480 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 3,120 $12,480.00
12 Testing SY $0.90 916 $824 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $2,511 1 $563
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 18 $21,600
$86,211 $40,943
$566,738 $182,912
Street "G4"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 1.8 $720.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 653 $1,797 0 $0.00
3 Drainage LF $100.00 180 $18,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 782 $32,844 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 845 $2,324 0 $0.00
7 Hydrated lime material TN $175.00 14 $2,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 2,160 $8,640 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,160 $8,640.00
12 Testing SY $0.90 845 $761 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $2,026 1 $354
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 12 $14,400
$69,561 $26,544
Street "G3"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.8 $1,520.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,505 $6,889 0 $0.00
3 Drainage LF $100.00 380 $38,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,056 $44,352 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 1,075 $43,000 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,301 $6,328 0 $0.00
7 Hydrated lime material TN $175.00 38 $6,650 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 4,560 $18,240 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,560 $18,240.00
12 Testing SY $0.90 2,301 $2,071 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $5,011 1 $661
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 24 $28,800
$172,061 $51,501
Public
Public Enhancement
25' B-B25' B-B
25' B-B25' B-B
260
SUBTOTAL
25' B-B 25' B-B
SUBTOTAL
TOTAL COST OF STREET " F"
SUBTOTAL
380
STREET "G"
180
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 41
Appendix A:
Road Improvement Details
Street "G2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 5.5 $2,200.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 1,996 $5,490 0 $0.00
3 Drainage LF $100.00 550 $55,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 1,465 $61,530 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,582 $4,351 0 $0.00
7 Hydrated lime material TN $175.00 26 $4,550 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 6,600 $26,400 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 6,600 $26,400.00
12 Testing SY $0.90 1,582 $1,424 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,828 1 $981
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 36 $43,200
$165,772 $76,881
Street "G1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 3.1 $1,240.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,044 $5,620 0 $0.00
3 Drainage LF $100.00 310 $31,000 0 $0.00
4 7"-3600 PSI concrete street pavement SY $42.00 861 $36,162 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 841 $33,640 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,838 $5,055 0 $0.00
7 Hydrated lime material TN $175.00 30 $5,250 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 3,720 $14,880 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 3,720 $14,880.00
12 Testing SY $0.90 1,838 $1,654 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,035 1 $560
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 20 $24,000
$138,536 $43,240
$545,931 $198,166
Street "R1"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 7.4 $2,960.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 3,563 $9,798 0 $0.00
3 Drainage LF $100.00 740 $74,000 0 $0.00
4 6"-3600 PSI concrete street pavement SY $36.00 2,056 $74,016 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 973 $38,920 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,270 $8,993 0 $0.00
7 Hydrated lime material TN $175.00 54 $9,450 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 0 $0.00
9 Street signs EA $650.00 0 $0 1 $650.00
10 6' wide concrete sidewalk SF $4.00 8,880 $35,520 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 8,880 $35,520.00
12 Testing SY $0.90 3,270 $2,943 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $7,698 1 $1,085
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 50 $60,000
$264,298 $97,255
Public
740
Street "R1"
25' B-B
25' B-B550
25' B-B
25' B-B
Public Enhancement
SUBTOTAL
310 25' B-B 25' B-B
SUBTOTAL
TOTAL COST OF STREET " G"
TOTAL COST OF STREET " R1"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 42
Appendix A:
Road Improvement Details
Street "R2"Units Cost Quantity Total Quantity Total
Length of Street Segment (LF)
1 Erosion control measures STA $400.00 4.5 $1,800.00 0 $0.00
2 Excavation ( 2' in depth width of ROW )CY $2.75 2,167 $5,958 0 $0.00
3 Drainage LF $100.00 450 $45,000 0 $0.00
4 6"-3600 PSI concrete street pavement SY $36.00 1,250 $45,000 0 $0.00
5 6"-3600 PSI conc. parking SY $40.00 499 $19,960 0 $0.00
6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,889 $5,195 0 $0.00
7 Hydrated lime material TN $175.00 31 $5,425 0 $0
8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000.00
9 Street signs EA $650.00 0 $0 2 $1,300.00
10 6' wide concrete sidewalk SF $4.00 5,400 $21,600 0 $0.00
11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,400 $21,600.00
12 Testing SY $0.90 1,889 $1,700 0 $0.00
13 Payment, performance & maintenance bonds LS 3.00%1 $4,549 1 $837
14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 30 $36,000
$156,187 $64,737
$420,485 $161,992
Public Enhancement
Public
450 25' B-B
TOTAL COST OF STREET " R"
Street "R2"
25' B-B
TOTAL COST OF STREET " R2"
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 43
Appendix B:
Other Site Improvement Details
A1.Water On-Site (CIP)Unit Cost Quant Total
1 36" RCCP Pipe LF $165.00 0 $0
2 16" PVC Pipe LF $60.00 10,005 $600,300
3 12" PVC Pipe LF $40.00 0 $0
4 36" Valve with vault EA $25,000.00 0 $0
5 16" Valves EA $5,500.00 12 $66,000
6 12" Valves EA $2,250.00 0 $0
7 6" Valves EA $850.00 12 $10,200
8 Fire hydrants EA $3,000.00 12 $36,000
9 Fittings (1 ton per 1000')TON $7,500.00 10.01 $75,038
10 Connect to existing pipe EA $3,500.00 4 $14,000
11 Trench safety LF $0.50 10,005 $5,003
12 Testing LF $2.00 10,005 $20,010
13 Payment, performance & maint bonds LS 3.00%1 $24,797
$851,347
A2.Water On-Site (Public)Unit Cost Quant Total
1 16" PVC Pipe LF $60.00 0 $0
2 12" PVC Pipe LF $40.00 14,715 $588,600
3 16" Valves EA $5,500.00 0 $0
4 12" Valves EA $2,250.00 37 $83,250
5 6" Valves EA $850.00 37 $31,450
6 Fire hydrants EA $3,000.00 37 $111,000
7 Fittings (1 ton per 1000')TON $5,000.00 14.72 $73,575
8 Concrete encasement LF $35.00 294 $10,301
9 Connect to existing pipe EA $1,500.00 6 $9,000
10 Trench safety LF $0.50 14,715 $7,358
11 Testing LF $2.00 14,715 $29,430
12 Payment, performance & maint bonds LS 3.00%1 $28,319
$972,282
A3.Water On-Site (Developer)Unit Cost Quant Total
1 8" PVC Pipe LF $25.00 13,010 $325,250
2 8" Valves EA $2,250.00 33 $74,250
3 6" Valves EA $850.00 37 $31,450
4 Fire hydrants EA $3,000.00 37 $111,000
5 Fittings (1 ton per 1000')TON $4,000.00 13.01 $52,040
6 Concrete encasement LF $35.00 260 $9,107
7 Connect to existing pipe EA $1,500.00 4 $6,000
8 Trench safety LF $0.50 13,010 $6,505
9 Testing LF $2.00 13,010 $26,020
10 Payment, performance & maint bonds LS 3.00%1 $19,249
$660,871
B1..Sanitary Sewer Off-Site (CIP)Units Cost Quant Total
1 18" SDR 26 PVC Pipe LF $85.00 7,360 $625,600
2 5' Diameter manhole EA $6,500.00 15 $97,500
3 Concrete encasement LF $45.00 147 $6,624
4 Connect to existing manhole EA $2,500.00 1 $2,500
5 Trench safety LF $0.50 7,360 $3,680
6 Testing LF $2.00 7,360 $14,720
7 Payment, performance & maint bonds LS 3.0%1 $22,519
$1,479,282TOTAL
ENGINEER'S OPINION OF PROBABLE COST, PREPARED BY JBI PARTNERS, INC. ON NOV. 14, 2012
NORTHWEST CORNER OF US380 AND DNT, PROSPER, TEXAS JBI PROJECT NO. ATH003
TOTAL
TOTAL
TOTAL
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 44
Appendix B:
Other Site Improvement Details
ENGINEER'S OPINION OF PROBABLE COST, PREPARED BY JBI PARTNERS, INC. ON NOV. 14, 2012
NORTHWEST CORNER OF US380 AND DNT, PROSPER, TEXAS JBI PROJECT NO. ATH003
B2..Sanitary Sewer On-Site (CIP)Units Cost Quant Total
1 18" PVC Pipe LF $65.00 2,790 $181,350
2 12" PVC Pipe LF $55.00 330 $18,150
3 10" PVC Pipe LF $40.00 0 $0
4 8" PVC Pipe LF $25.00 0 $0
5 Concrete encasement LF $35.00 62 $2,184
6 5' Diameter manhole EA $5,500.00 9 $49,500
7 Connect to existing manhole EA $1,500.00 1 $1,500
8 Trench safety LF $0.50 3,120 $1,560
9 Testing LF $2.00 3,120 $6,240
10 Payment, performance & maint bonds LS 3.0%1 $7,815
$268,299
B3..Sanitary Sewer On-Site (Public)Units Cost Quant Total
1 12" PVC Pipe LF $55.00 2,490 $136,950
2 10" PVC Pipe LF $40.00 0 $0
3 8" PVC Pipe LF $25.00 8,785 $219,625
4 Concrete encasement LF $35.00 226 $7,893
5 5' Diameter manhole EA $5,500.00 32 $176,000
6 Connect to existing manhole EA $1,500.00 1 $1,500
7 Trench safety LF $0.50 11,275 $5,638
8 Testing LF $2.00 11,275 $22,550
9 Payment, performance & maint bonds LS 3.0%1 $17,105
$587,260
B4..Sanitary Sewer On-Site (Developer)Units Cost Quant Total
1 12" PVC Pipe LF $55.00 0 $0
2 10" PVC Pipe LF $40.00 0 $0
3 8" PVC Pipe LF $25.00 3,160 $79,000
4 Concrete encasement LF $35.00 63 $2,212
5 5' Diameter manhole EA $5,500.00 9 $49,500
6 Connect to existing manhole EA $1,500.00 1 $1,500
7 Trench safety LF $0.50 3,160 $1,580
8 Testing LF $2.00 3,160 $6,320
9 Payment, performance & maint bonds LS 3.0%1 $4,203
$144,315
C.Drainage (Multi-box Culvert Drainage along US 380)Units Cost Quant Total
1 4 barrel 8' x 3' RCB LF $1,100.00 1,500 $1,650,000
2 Storm junction box EA $15,000.00 3 $45,000
3 Wing wall at 4 barrel 8' x 3' RCB EA $30,000.00 1 $30,000
4 Rock rip rap SY $85.00 80 $6,800
5 Trench safety LF $0.35 1,500 $525
6 Testing LF $1.25 1,500 $1,875
7 Payment, performance & maint bonds LS 3.00%1 $52,026
$1,786,226
D.Parking Deck Infrastructure Total
1 PARKING DECK D1-5 LEVELS (each level 185 spaces @ $12,000 per space)$13,320,000
2 PARKING DECK F1-5 LEVELS (each level 135 spaces @ $12,000 per space)$9,720,000
3 PARKING DECK G1-5 LEVELS (each level 330 spaces @ $12,000 per space)$23,760,000
4 PARKING DECK R1-5 LEVELS (each level 190 spaces @ $12,000 per space)$13,680,000
5 PARKING DECK R2-4 LEVELS (each level 110 spaces @ $12,000 per space)$6,336,000
6 CONTINGENCY (10%)$6,681,600
$73,497,600
TOTAL
TOTAL
TOTAL
TOTAL
TOTAL
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 45
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFA
Mixed use centers
The Crescent 100 Crescent Dallas 1,722,192 433,082 3.98 $246,022,620 $38,977,380 $285,000,000 $165 $90 2012 1983
shopping, theater 3699 McKinney 125,586 169,508 0.74 $18,579,530 $10,170,470 $28,750,000 $229 $60
apartments 3699 McKinney 190,062 95,749 1.98 $16,605,210 $5,744,790 $22,350,000 $118 $60 4 159
residential condos (20)3699 McKinney 34,486 17,256 2.00 $5,368,370 $775,290 $6,143,660 $178 $45 20
West Village Dallas 350,134 282,513 1.24 $40,553,110 $8,475,390 $57,243,660 $163 $30 2012 2000 179
Galleria 13350 Dallas 951,178 1,029,719 $246,697,430 $30,891,570 $277,589,000 $30 1981
garage 13350 Dallas 0 0 $6,411,000 $0 $6,411,000 1981
5200 Alpha 0 80,163 $0 $2,004,080 $2,004,080 $25
Nordstrom 5200 Alpha 230,000 0 $14,508,220 $0 $14,508,220 1995
Saks 13550 Dallas 171,000 0 $7,793,960 $0 $7,793,960 1981
Macy's 13401 Noel 0 112,385 $0 $2,809,630 $2,809,630 $25
Macy's 13375 Noel 253,795 0 $13,312,820 $0 $13,312,820 1984
Gap, etc.13250 Dallas 127,639 0 $5,725,000 $0 $5,725,000 1981
Galleria mall and department stores 1,733,612 1,222,267 1.42 $294,448,430 $35,705,280 $330,153,710 $190 $29
13155 Noel 573,816 168,612 $51,749,640 $5,058,360 $56,808,000 $30 1990
child day care center 13255 Noel 9,888 0 $500,000 $0 $500,000 1991
13355 Noel 493,925 114,585 $46,987,450 $3,437,550 $50,425,000 $30 1981
13455 Noel 457,985 85,617 $44,028,490 $2,568,510 $46,597,000 $30 1984
Galleria office buildings 1,535,614 368,814 4.16 $143,265,580 $11,064,420 $154,330,000 $101 $30
13340 Dallas 473,645 0 $45,805,050 $0 $45,805,050 1981 21 431
13340 Dallas 0 120,291 $0 $3,608,730 $3,608,730
Westin Galleria Hotel 473,645 120,291 3.94 $45,805,050 $3,608,730 $49,413,780 $104 $30
5244 Alpha 2,067 82,842 $17,790 $864,210 $882,000 $10 2005
5244 Alpha 0 15,481 $0 $387,030 $387,030 $25
Galleria vacant land 2,067 98,323 0.02 $17,790 $1,251,240 $1,269,030 $13
Galleria grand total Dallas 3,744,938 1,809,695 2.07 $483,536,850 $51,629,670 $535,166,520 $143 $29 2012
Legacy Town Center 7240 Dallas Parkway 108,337 272,816 0.40 $1,557,760 $4,092,240 $5,650,000 $52 $15
5800 Legacy 62,853 140,829 0.45 $8,556,199 $2,112,442 $10,668,641 $170 $15
5760 Legacy 106,144 218,236 0.49 $22,763,481 $2,618,827 $25,382,308 $239 $12
7161 Bishop 30,814 52,969 0.58 $3,869,224 $1,059,379 $4,928,603 $160 $20 2002
5700 Legacy 20,509 96,834 0.21 $2,901,092 $1,452,508 $4,353,600 $212 $15 2002
Angelika, UO, Ginger Man 7205 Bishop 45,960 75,359 0.61 $8,808,968 $1,130,382 $9,939,350 $216 $15 $2,310,522 $50
Retail stores and theater 374,617 857,043 0.44 $48,456,724 $12,465,778 $60,922,502 $163 $15
7121 Bishop 341,917 124,608 2.74 $39,673,380 $1,869,120 $41,542,500 $121 $15
7120 Dallas 0 57,173 0.00 $814,040 $1,143,460 $1,957,500 $20
Hotel 341,917 181,780 1.88 $40,487,420 $3,012,580 $43,500,000 $127 $17
6900 Dallas 374,300 292,985 1.28 $71,605,232 $4,394,768 $76,000,000 $203 $15
7160 Dallas 159,007 171,278 0.93 $27,430,831 $2,569,169 $30,000,000 $189 $15
Office buildings 533,307 464,262 1.15 $99,036,063 $6,963,937 $106,000,000 $199 $15
7008 Bishop 312,593 200,986 1.56 $29,690,456 $2,411,830 $32,102,286 $103 $12
5760 Daniel 90,122 32,082 2.81 $6,007,527 $802,049 $6,809,576 $76 $25
6901 Hansell 58,886 36,198 1.63 $4,931,820 $904,959 $5,836,779 $99 $25 2006
4751 Martin 135,304 65,776 2.06 $8,860,009 $1,183,961 $10,043,970 $74 $18 1999
5741 Martin 237,306 121,968 1.95 $16,392,320 $1,463,616 $17,855,936 $75 $12
7001 Parkwood 254,948 143,330 1.78 $22,599,955 $1,719,958 $24,319,913 $95 $12
Pearson 0 102,706 0.00 $0 $1,540,587 $1,540,587 $15
5700 Scruggs 92,676 66,211 1.40 $8,403,741 $1,324,224 $9,727,965 $105 $20 2006
5701 Scruggs 53,638 34,482 1.56 $4,974,726 $862,053 $5,836,779 $109 $25 2004
5701 Scruggs 96,347 107,419 0.90 $9,089,478 $1,611,284 $10,700,762 $111 $15 2004
5720 Scruggs 16,526 19,467 0.85 $1,458,919 $486,674 $1,945,593 $118 $25 2004
Multi-family rental dwellings 1,348,346 930,625 1.45 $112,408,951 $14,311,195 $126,720,146 $94 $15
Open space Legacy 0 102,527 0.00 $0 $1,000 $1,000 $0
Legacy Town Center (except Lunsford townhomes)Plano 2,598,187 2,536,238 1.02 $300,389,158 $36,754,490 $337,143,648 $130 $14 2012
All appraisals are for for tax year 2011, reflecting values as of January 1, 2011, unnless otherwise indicated. Within use types, properties are sorted in descending order of total appraised value per SF of GFA.
The purpose of this schedule is to relate actual appraisals for tax purposes and other quantitative measures of comparable development in the metropolitan area.
Improvement appraisals include garages, if on the premises. Gross floor area measurements exclude parking garages.
Street Address
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 46
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
apartments 2140 Medical District 352,598 316,158 1.12 $28,394,130 $4,742,370 $33,136,500 $94 $15 2008 4 396
apartments 2222 Medical District 304,102 203,218 1.50 $28,301,730 $3,048,270 $31,350,000 $103 $15 2006 4 278
retail 2222 Medical District 57,251 35,077 1.63 $3,358,880 $526,160 $3,885,040 $68 $15 2006 1
Cityville at Southwestern Medical Dallas 361,353 238,295 1.52 $31,660,610 $3,574,430 $35,235,040 $98 $15 2012 2006 4 278
5307 Mockingbird 589,374 379,682 $34,054,590 $20,882,510 $54,937,100 1999 211
5307 Mockingbird 7,880 $100,000 $100,000
Mockingbird Station Dallas 589,374 387,562 1.52 $34,054,590 $20,982,510 $55,037,100 $93 $54 2012
apartments, retail, office 15500 Quorum 841,707 364,467 2.31 $55,453,660 $4,373,600 $59,827,260 $71 $12 1998 4-7 610
apartments, retail 4949 Adddsion Circle 407,762 224,857 1.81 $41,341,830 $2,698,280 $44,040,110 $108 $12 1996 4 460
apartments 4901 Morris 158,253 49,353 3.21 $14,540,390 $592,240 $15,132,630 $96 $12 1999 4 171
apartments 4851 Morris 97,809 66,037 1.48 $7,839,630 $660,370 $8,500,000 $87 $10 2000 4 93
Post at Addison Circle Addison 1,505,531 704,713 2.14 $119,175,510 $8,324,490 $127,500,000 $85 $12 2012 1,334
General Retail
Highland Park Village 4200 Mockingbird 278,142 423,054 $56,465,550 $43,559,900 $100,025,450 $103 1931
HPV parking north of Mockingbird 4200 Mockingbird 0 100,663 $0 $4,974,550 $4,974,550 $49
Highland Park Village High. Park 278,142 523,717 0.53 $56,465,550 $48,534,450 $105,000,000 $378 $93 2012
Mockingbird Central Plaza 5400 Mockingbird Dallas 71,120 185,718 0.38 $6,425,570 $13,000,260 $19,425,830 $273 $70 2012 1985 2 $1,739,920 $24
NorthPark 8687 N. Central 1,713,484 3,345,060 0.51 $358,796,400 $200,703,600 $559,500,000 $327 $60 1965 2 $122,626,249 $72
Macy's 7901 W. Northwest 250,000 151,088 1.65 $10,209,380 $9,065,280 $19,274,660 $77 $60 2000 2 $11,798,380 $47
Nordstrom 7901 W. Northwest 202,905 0 $16,130,950 $0 $16,130,950 2004 2 $19,399,290 $96
Neiman Marcus 400 Northpark 139,940 83,625 1.67 $12,582,500 $5,017,500 $17,600,000 $126 $60 1965 2 $25,933,200 $185
8850 Boedeker 64,307 87,165 0.74 $16,760 $4,358,240 $4,375,000 $68 $50 1973 3 N.A.
NorthPark total Dallas 2,370,636 3,666,938 0.65 $397,735,990 $219,144,620 $616,880,610 $260 $60 2012 $179,757,119 $78
Lincoln Park (retail with grocery)7700 W. Northwest Dallas 153,642 502,208 0.31 $6,867,520 $30,132,480 $37,000,000 $241 $60 2012 1997 $4,992,560 $32
Walgreen's 5742 E. Mockingbird Dallas 15,328 63,005 0.24 $1,229,580 $1,575,130 $2,804,710 $183 $25 2012 2001 1 $1,120,060 $73
Sleep Experts, etc 10910 N Central 10,215 45,999 0.22 $542,870 $919,980 $1,462,850 $143 $20 2005 1 $98,000 $10
10910 N Central 0 7,356 0.00 $0 $50,000 $50,000 $7
10910 N Central 13,172 52,141 0.25 $966,960 $1,042,820 $2,009,780 $153 $20 2005 1 $98,220 $7
Backyard Burgers 10930 N Central 2,223 19,950 0.11 $339,040 $399,000 $738,040 $332 $20 2006 1 $128,350 $58
Royal Crossing Shopping Center Dallas 25,610 125,446 0.20 $1,848,870 $2,411,800 $4,260,670 $166 $19 2012 $324,570 $13
Southlake Town Square commercial
Excluding tax-exempt properties Southlake 1,143,012 2,424,705 0.47 $183,771,608 $25,342,121 $209,113,729 $183 $10 2010
Taxable, including tax-exempt SF Southlake 1,541,319 3,046,932 0.51 $183,771,608 $25,342,121 $209,113,729 $136 $8 2010
Whatburger, Taco Bell, Long John 1201 W. Glade Euless 6,951 66,399 0.10 $945,264 $1,344,580 $2,289,844 $329 $20 2003 $254,531 $37
Mixed retail and services 1301 W. Glade Euless 73,739 331,152 0.22 $7,322,250 $2,483,640 $9,805,890 $133 $8 2001 $1,492,089 $20
Chick-Fil-A, Parker Uniforms, etc.3001 State Hwy. 121 Euless 4,162 40,709 0.10 $185,018 $824,357 $1,009,375 $243 $20 2001 $695,339 $167
7-Eleven and Citgo 3011 State Hwy. 121 Euless 3,285 40,075 0.08 $193,028 $901,688 $1,094,716 $333 $23 1998 $215,661 $66
Heritage Crossing Center total 1201 W. Glade Euless 88,137 478,335 0.18 $8,645,560 $5,554,265 $14,199,825 $161 $12 2012 2003 $2,657,620 $30
MacArthur Mills shopping center 4000 N. MacArthur Irving 137,223 572,269 0.24 $14,277,310 $5,722,690 $20,000,000 $146 $10 2012 1987
CVS 3614 Camp Bowie Fort Worth 16,092 70,800 0.23 $684,570 $1,593,000 $2,277,570 $142 $23 2010 1 $955,411 $59
Grapevine Mills Center 2225 Grapevine Mills Cir 78,344 149,063 0.53 $4,981,422 $894,378 $5,875,800 $75 $6 1997
2219 Grapevine Mills Cir 53,384 144,794 0.37 $4,469,636 $868,764 $5,338,400 $100 $6 1997
3000 Grapevine Mills Pkwy 1,244,207 5,423,176 0.23 $147,406,980 $32,539,056 $179,946,036 $145 $6 1997
Grapevine Mills Center total Grapevine 1,375,935 5,717,033 0.24 $156,858,038 $34,302,198 $191,160,236 $139 $6 2011
Stonebriar Mall dept. stores (5)884,477 2,475,763 0.36 $19,956,505 $24,757,630 $44,714,135 $51 $10
Other mall stores inside ring road 1,232,169 2,147,726 0.57 $206,462,298 $21,958,340 $228,420,638 $185 $10
Stonebriar Mall outside ring road 525,865 3,661,545 0.14 $43,755,263 $53,081,085 $96,836,348 $184 $14
Stonebriar Mall total Frisco 2,642,511 8,285,034 0.32 $270,174,066 $99,797,055 $369,971,121 $140 $12 2012 2000
Best Buy, Toys R Us, Golf Galaxy 9358 N. Central Dallas 184,996 636,318 0.29 $9,092,050 $15,907,950 $25,000,000 $135 $25 2012 1992 $6,504,550 $35
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 47
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
South Frisco Village 2930 Preston Frisco 234,866 1,092,703 0.21 $20,758,376 $8,741,624 $29,500,000 $126 $8 2012 2001 $7,735,970 $33
907 Bethany 753,787 1,287,546 0.59 $87,527,665 $7,725,279 $95,252,944 $126 $6 2007
985 Bethany 72,060 186,228 0.39 $6,178,709 $1,117,366 $7,296,075 $101 $6 2007
Watters Creek at Montgmery Farm Allen 825,847 1,473,774 0.56 $93,706,374 $8,842,645 $102,549,019 $124 $6 2012
medical and Chipotle 11613 N. Central 61,916 209,038 0.30 $1,567,300 $4,703,360 $6,270,660 $101 $23 1979 $712,870
medical 11617 N. Central 28,400 88,879 0.32 $1,056,320 $1,999,780 $3,056,100 $108 $23 1979 $1,092,940
Boston Market 11717 N. Central 4,240 24,805 0.17 $274,180 $595,320 $869,500 $205 $24 1981 $351,410
7-Eleven 7950 Forest 2,016 16,291 0.12 $304,080 $488,730 $792,810 $393 $30 1976 $134,430
Schlotzky's 7804 Forest 2,700 13,984 0.19 $197,210 $314,640 $511,850 $190 $23 1979 $70,180
Taco Bueno 7940 Forest 2,806 23,640 0.12 $41,040 $567,360 $608,400 $217 $24 1979 $130,650
Central Forest Shopping Center total Dallas 102,078 376,637 0.27 $3,440,130 $8,669,190 $12,109,320 $119 $23 2012 $2,492,480 $24
Chase Bank 908 McDermott W.4,485 52,485 0.09 $586,105 $970,973 $1,557,078 $347 $18 1999 $238,615 $53
Hobby Lobby, Fed Ex 107 Central N.135,221 504,826 0.27 $14,327,760 $3,533,782 $17,861,542 $132 $7 1999 $789,072 $6
Compass Bank 806 McDermott W.2,607 54,886 0.05 $334,590 $987,948 $1,322,538 $507 $18 1999 $66,350 $25
Jack in the Box 804 McDermott W.2,799 35,092 0.08 $372,569 $666,748 $1,039,317 $371 $19 1999 $98,850 $35
Golden Chick 802 McDermott W.3,915 56,192 0.07 $299,788 $1,180,040 $1,479,828 $378 $21 1999 $159,699 $41
Chipotle Mexican Grill 103 Central N.4,683 40,946 0.11 $448,382 $777,974 $1,226,356 $262 $19 2000 $108,989 $23
Stacy's Furniture, etc.111 Central N.125,370 447,453 0.28 $5,287,855 $3,355,898 $8,643,753 $69 $8 1999 $2,201,800 $18
Arby's 201 Central N.2,950 35,589 0.08 $398,076 $605,013 $1,003,089 $340 $17 1999 $63,857 $22
Holiday Inn Express 205 Central N.50,523 92,430 0.55 $2,814,345 $785,655 $3,600,000 $71 $9 2006 $0 $0
On the Border 213 Central N.7,200 66,054 0.11 $684,848 $1,122,918 $1,807,766 $251 $17 2000 $224,466 $31
209 Central N.4,188 23,435 0.18 $319,117 $398,395 $717,512 $171 $17 2001
Jason's Deli, misc. retail 906 McDermott W.29,259 186,380 0.16 $3,130,756 $1,304,660 $4,435,416 $152 $7 1999 $2,098,372 $72
Tom Thumb 900 McDermott W.59,964 267,350 0.22 $3,267,433 $2,005,125 $5,272,558 $88 $8 1999 $2,991,904 $50
914 McDermott W.7,500 29,664 0.25 $1,173,978 $504,288 $1,678,266 $224 $17 2000
Chik-Fil-A 902 McDermott W.3,910 32,247 0.12 $552,435 $548,199 $1,100,634 $281 $17 1999 $288,525 $74
SWH 810 McDermott W.6,600 52,904 0.12 $657,523 $925,820 $1,583,343 $240 $18 2000 $316,700 $48
24-Hour Fitness 510 Watters N.38,485 146,017 0.26 $4,183,201 $803,096 $4,986,297 $130 $5 2002 $477,621 $12
vacant 504 Watters N.0 55,452 0.00 $0 $304,985 $304,985 $5 $0 N.A.
McDermott @ Central (NW corner)Allen 489,659 2,179,403 0.22 $38,838,761 $20,781,517 $59,620,278 $122 $10 2012 $10,124,820 $21
Preston Forest Shopping Center 11700 Preston 0 364,015 0.00 $0 $5,460,230 $5,460,230 $15
Whole Foods 11700 Preston 78,040 51,960 1.50 $6,153,460 $779,400 $6,932,860 $89 $15 2006 $4,604,290 $59
11700 Preston 27,824 27,824 1.00 $1,736,890 $417,360 $2,154,250 $77 $15 1960
11700 Preston 88,700 42,200 2.10 $7,023,110 $633,000 $7,656,110 $86 $15 1961 $953,510 $11
Stapels 11700 Preston 29,680 29,280 1.01 $2,254,060 $439,200 $2,693,260 $91 $15 1960
11700 Preston 21,380 21,380 1.00 $1,675,690 $427,600 $2,103,290 $98 $20 1958
Wells Fargo 11730 Preston 3,120 15,655 0.20 $605,350 $469,650 $1,075,000 $345 $30 2003 $204,700 $66
Preston Forest Shopping Center Dallas 248,744 552,314 0.45 $19,448,560 $8,626,440 $28,075,000 $113 $16 2012
Oaktree Plaza Shopping Center 1447 S Loop 288 Denton 69,406 324,086 0.21 $2,791,790 $3,889,032 $6,680,822 $96 $12 2012 1998 1
Willow Bend Mall dept. stores (4)723,629 731,322 0.99 $22,404,305 $8,647,683 $31,051,988 $43 $12
Other mall stores 856,870 2,684,450 0.32 $61,155,496 $26,844,504 $88,000,000 $103 $10
Park Blvd. pad sites 50,628 435,252 0.12 $6,321,746 $11,127,991 $17,449,737 $345 $26
Willow Bend Mall total Plano 1,631,127 3,851,024 0.42 $89,881,547 $46,620,178 $136,501,725 $84 $12 2012 2000
Target 8550 East Freeway 103,664 392,140 0.26 $2,155,200 $2,941,050 $5,096,250 $49 $8 $2,369,942 $23
UA Theater, Ross, Conn's, etc.8350 East Freeway 310,310 1,958,221 0.16 $7,799,022 $14,485,269 $22,284,291 $72 $7 $4,765,326 $15
Eastchase Market Fort Worth 413,974 2,350,361 0.18 $9,954,222 $17,426,319 $27,380,541 $66 $7 2011 1995 $7,135,268 $17
Big Box Retail
Best Buy 1515 W. State Hwy 114 Grapevine 45,250 179,928 0.25 $2,836,103 $1,743,650 $4,579,753 $101 $10 2011 $2,754,169 $61
Ashley Furniture, TRS Furnishings 3400 Grapevine Mills Grapevine 51,575 188,876 0.27 $2,422,364 $2,077,636 $4,500,000 $87 $11 2011 2004 $745,039 $14
Wal-Mart Supercenter 1721 Custer N.McKinney 207,893 970,343 0.21 $11,920,488 $5,819,525 $17,740,013 $85 $6 2012 2006 $8,177,926 $39
Best Buy 6750 West Freeway Fort Worth 27,812 84,736 0.33 $1,707,112 $677,888 $2,385,000 $86 $8 2011 $1,637,235 $59
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 48
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
Home Depot 6010 Skillman 97,191 384,138 0.25 $1,000 $5,762,070 $5,763,070 $59 $15 1992
Home Depot 6320 Eastridge 12,080 303,613 $1,993,090 $2,428,900 $4,421,990 $366 $8
Home Depot Dallas 109,271 687,751 0.16 $1,994,090 $8,190,970 $10,185,060 $93 $12 2012
Best Buy 2800 N. Central Plano 45,830 215,012 0.21 $1,880,792 $1,935,108 $3,815,900 $83 $9 2012 1999 $2,840,805 $62
Costco 1701 Dallas Plano 159,547 682,324 0.23 $4,553,013 $8,529,050 $13,082,063 $82 $13 2012 2001 $12,110,156 $76
Wal-Mart Supercenter 6000 Coit Plano 112,965 545,241 0.21 $5,331,624 $3,544,067 $8,875,691 $79 $7 2012 2000 $5,052,481 $45
Costco 3800 Central N.Plano 151,761 716,998 0.21 $6,621,855 $5,018,983 $11,640,838 $77 $7 2012 2000 $10,584,131 $70
Wal-Mart Supercenter 6001 Central N.Plano 208,390 840,621 0.25 $7,806,029 $6,724,967 $14,530,996 $70 $8 2012 1994 $9,465,024 $45
Super Target 5301 N. Garland Garland 174,664 564,455 0.31 $6,303,060 $5,644,550 $11,947,610 $68 $10 2012 2002 $4,629,730 $27
Costco 2604 E Southlake Southlake 146,683 713,084 0.21 $6,002,226 $3,565,420 $9,567,646 $65 $5 2011 2001 $9,946,271 $68
Super Target 601 S. Plano Richardson 175,680 624,825 0.28 $6,837,220 $4,998,600 $11,835,820 $67 $8 2012 2002 $4,467,380 $25
Lowe's 11920 Inwood Dallas 131,740 648,303 0.20 $649,320 $7,779,640 $8,428,960 $64 $12 2012 1997 $5,306,750 $40
Costco 600 W Arbrook Arlington 147,706 679,080 0.22 $2,289,634 $6,790,800 $9,080,434 $61 $10 2011 2001 $9,975,907 $68
Wal-Mart Supercenter 8801 Ohio Plano 224,132 934,645 0.24 $7,534,570 $7,009,838 $14,544,408 $65 $7 2012 2000 $7,899,132 $35
Costco 4901 Citylake E Fort Worth 152,095 867,626 0.18 $3,526,618 $6,073,382 $9,600,000 $63 $7 2011 2000 $9,080,131 $60
Lowe's 1710 Chalk Hill Dallas 132,008 628,571 0.21 $3,990,630 $3,771,430 $7,762,060 $59 $6 2012 $4,692,840 $36
Super Target 3730 Belt Line Addison 122,202 502,574 0.24 $3,511,910 $4,020,590 $7,532,500 $62 $8 2012 1993 $3,436,470 $28
Super Target 1401 W. Glade Euless 181,350 630,971 0.29 $8,016,305 $3,154,855 $11,171,160 $62 $5 2010 $4,372,422 $24
Super Target 1400 Precinct Line Hurst 164,832 742,441 0.22 $6,441,446 $3,712,205 $10,153,651 $62 $5 2010 $3,760,793 $23
Costco 250 US Hwy 67 Duncanville 152,734 716,998 0.21 $5,928,260 $1,971,740 $7,900,000 $52 $3 2012 2006 $9,612,690 $63
Home Depot 11682 Forest Central Dallas 110,214 547,549 0.20 $901,000 $5,475,490 $6,376,490 $58 $10 2012 1998 $5,273,770 $48
Home Depot 6411 Precinct Line NRH 114,189 674,114 0.17 $4,320,219 $2,157,865 $6,478,084 $57 $3 2010 $4,519,810 $40
Home Depot 2220 N. Coit Richardson 111,920 467,225 0.24 $3,196,350 $2,803,350 $5,999,700 $54 $6 2012 1999 $4,605,440 $41
Ross 4629 S. Hulen Fort Worth 29,280 111,949 0.26 $47,850 $1,427,350 $1,475,200 $50 $13 2011 $355,896 $12
Home Depot 251 Industrial Euless 107,500 539,206 0.20 $3,227,176 $2,156,824 $5,384,000 $50 $4 2010 $4,798,256 $45
Lowe's 8520 S. Hampton Dallas 130,112 774,536 0.17 $745,350 $5,421,750 $6,167,100 $47 $7 2012 1997 $4,638,230 $36
Home Depot 300 Village Center Southlake 128,775 502,138 0.26 $814,758 $4,519,242 $5,334,000 $41 $9 2010 $5,081,718 $39
Supermarkets
Tom Thumb 7117 Inwood Dallas 42,203 106,766 0.40 $3,888,680 $2,135,320 $6,024,000 $143 $20 2012 2010 $3,600,590 $85
Central Market 5750 E. Lovers Dallas 76,589 313,984 0.24 $926,550 $7,256,320 $8,182,870 $107 $23 2012 2001 $6,229,810 $81
Tom Thumb 3757 Forest Dallas 48,250 165,789 0.29 $2,700,920 $1,657,890 $4,358,810 $90 $10 2012 1984 $2,627,110 $54
Tom Thumb 900 McDermott W.Allen 59,964 267,350 0.22 $3,267,433 $2,005,125 $5,272,558 $88 $8 2012 1999 $2,704,325 $45
Kroger 5665 E. Mockingbird Dallas 79,228 349,046 0.23 $869,490 $5,889,090 $6,758,580 $85 $17 2012 1994 $3,328,410 $42
Tom Thumb 4848 Preston Frisco 63,369 276,044 0.23 $3,191,648 $2,208,352 $5,400,000 $85 $8 2012 1999 $2,885,846 $46
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 49
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
Kroger 950 E. Sandy Lake Coppell 63,507 305,294 0.21 $1,916,370 $2,442,350 $4,358,720 $69 $8 2012 1998 $4,328,110 $68
Kroger 160 Coit Richardson 72,808 306,632 0.24 $2,223,530 $1,947,350 $4,170,880 $57 $6 2012 1995 $1,900,050 $26
Restaurants
Freddy's Frozen Custard 2820 State Hwy 121 Euless 3,545 37,371 0.09 $258,753 $934,275 $1,193,028 $337 $25 2012 2008 $183,366 $52
Applebee's 1820 University W.McKinney 5,489 72,092 0.08 $507,377 $1,297,656 $1,805,033 $329 $18 2012 1993 $143,808 $26
Chili's 1610 N. Cockrell Hill Dallas 5,844 85,072 0.07 $635,920 $1,280,080 $1,916,000 $328 $15 2012 2004 $252,860 $43
McDonald's 13105 Montfort Dallas 4,612 30,000 0.15 $766,020 $733,980 $1,500,000 $325 $24 2012 2001 $406,190 $88
Red Lobster 3056 Preston Frisco 7,087 74,226 0.10 $604,723 $1,484,520 $2,089,243 $295 $20 2012 2001 $183,846 $26
Steak N Shake 2205 Grapevine Mills Grapevine 3,884 54,791 0.07 $98,149 $1,027,331 $1,125,480 $290 $19 2012 2001 $112,267 $29
Olive Garden 2886 Preston Frisco 8,144 76,666 0.11 $750,095 $1,533,320 $2,283,415 $280 $20 2012 2001 $288,084 $35
Cracker Barrel 2700 Grapeveine Mills Grapevine 10,148 86,748 0.12 $890,370 $1,759,630 $2,650,000 $261 $20 2012 2006 $507,621 $50
Texas Roadhouse 3001 State Hwy 121 Bedford 7,200 100,912 0.07 $964,970 $731,612 $1,696,582 $236 $7 2012 2005 $230,107 $32
Dickey's Barbecue 711 Keller Parkway Keller 3,434 37,805 0.09 $240,485 $415,855 $656,340 $191 $11 2012 2005 $155,147 $45
Chili's 329 Spring Valley Richardson 6,176 51,531 0.12 $683,030 $412,250 $1,095,280 $177 $8 2012 1982 $153,840 $25
Pappadeaux 725 S. Central Richardson 10,620 130,811 0.08 $837,440 $1,046,490 $1,883,930 $177 $8 2012 1991 $251,300 $24
Applebee's 2215 Grapevine Mills Grapevine 6,897 62,467 0.11 $235,251 $937,005 $1,172,256 $170 $15 2012 1999 $221,287
Chili's 12815 Preston Dallas 6,356 17,500 0.36 $503,360 $516,640 $1,020,000 $160 $30 2012 1983 $280,050 $44
Pappasito's 723 S. Central Richardson 9,145 71,874 0.13 $489,060 $574,990 $1,064,050 $116 $8 2012 1982 $225,700 $25
Hotels
Ritz Carlton 2121 McKinney Dallas 284,513 145,686 1.95 $26,427,640 $13,111,740 $39,539,380 $139 $90 2012 2005 8 217
W Hotel 2440 Victory Park Dallas 294,261 20,086 14.65 $35,143,910 $1,004,290 $36,148,200 $123 $50 2012 2004 12 252
Marriott Residences 2500 Museum Fort Worth 106,804 103,280 1.03 $9,286,955 $3,363,830 $12,650,785 $118 $33 2012 150
Melrose Hotel 3015 Oak Lawn Dallas 146,350 118,744 1.23 $10,596,990 $5,937,200 $16,534,190 $113 $50 2012 1923 8 184
Hampton Inn 3199 Parkwood Frisco 67,298 127,021 0.53 $5,296,023 $1,905,300 $7,201,323 $107 $15 2012 2002 105
Embassy Suites 7600 John Q. Hammons Frisco 309,688 80,586 3.84 $30,791,210 $1,208,790 $32,000,000 $103 $15 2012 2004 329
Marriott 8440 Freeport Irving 367,000 504,367 0.73 $34,978,160 $2,521,840 $37,500,000 $102 $5 2012 1981 19 492 $1,078,080 $3
Embassy Suites 2401 Bass Pro Grapevine 329,353 354,251 0.93 $29,103,239 $3,896,761 $33,000,000 $100 $11 2012 1998 329 $107,508 $0
Fairmont Hotel 1717 N. Akard Dallas 579,037 98,886 5.86 $49,942,980 $5,933,160 $55,876,140 $96 $60 2012 1961 24 550
Gaylord Texan 1501 Gaylord Trail Grapevine 2,886,535 2,231,971 1.29 $266,417,640 $7,811,898 $274,229,538 $95 $3 2012 2004 1,511 $1,446,817 $1
Hampton Inn 13600 North Freeway Fort Worth 64,439 101,843 0.63 $5,047,685 $814,744 $5,862,429 $91 $8 2012 102
Homewood Suites 2214 W. Grapevine Mills C Grapevine 85,831 117,495 0.73 $6,307,010 $1,409,940 $7,716,950 $90 $12 2012 2000 105
Richardson Hotel 701 E. Campbell Richardson 238,184 304,920 0.78 $15,808,930 $2,439,360 $18,248,290 $77 $8 2012 1986 18 342 $20,550 $0
Holiday Inn Express 4220 Preston Frisco 32,080 62,674 0.51 $1,813,250 $626,750 $2,440,000 $76 $10 2012 1998
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 50
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
Hilton Garden Inn 705 Central Expy. S.Allen 94,047 151,406 0.62 $5,913,057 $1,286,943 $7,200,000 $77 $8 2012 6 150 $17,326 $0
221 E. Las Colinas 469,805 254,760 1.84 $32,398,970 $2,547,600 $34,946,570 $74 $10 1982 27 421
215 E. Las Colinas 5,135 34,834 0.15 $314,780 $348,340 $663,120 $129 $10 1981
Omni Mandalay Irving 474,940 289,594 1.64 $32,713,750 $2,895,940 $35,609,690 $75 $10 2012 421
900 E. Lookout 176,800 38,155 4.63 $11,260,330 $305,240 $11,565,570 $65 $8 $1,791,610 $10
900 E. Lookout 134723 92,774 1.45 $9,268,649 $881,351 $10,150,000 $75 $9
Marriott Renaissance Richardson 311,523 130,929 2.38 $20,528,979 $1,186,591 $21,715,570 $70 $9 2012 2000 12 218 $87,140 $0
Holiday Inn at Pinnacle Park 4321 Communications Dallas 58,886 108,900 0.54 $2,889,770 $680,630 $3,570,400 $61 $6 2012 2009 4 89
Super 8 Motel 220 W. Spring Valley Richardson 26,352 57,504 0.46 $887,960 $460,030 $1,347,990 $51 $8 2012 57
Budget Suites Hotel 700 Walnut Ridge Irving 137,293 304,876 0.45 $3,215,680 $3,658,510 $6,874,190 $50 $12 2012 1998 3 336
Super 8 Motel 910 N. Central McKinney 30,486 79,597 0.38 $360,321 $795,970 $1,156,291 $38 $10 2012 3
Super 8 Motel 1704 N. Central Plano 36,975 87,612 0.42 $663,327 $525,673 $1,189,000 $32 $6 2012
Cinema
Cinemark Theater 7201 Central Plano 100,530 856,825 0.12 $8,644,569 $5,355,431 $14,000,000 $139 $6 2012 1998 $1,512,267 $15
Studio Movie Grill 11170 N. Central Dallas 59,829 222,178 0.27 $2,204,720 $4,443,560 $6,648,280 $111 $20 2012 1993 $1,892,960 $32
Cinemark Theater 1701 Central S.McKinney 55,744 385,201 0.14 $3,505,914 $2,664,086 $6,170,000 $111 $7 2012 1994 $455,018 $8
AMC Mesquite 30 19919 LBJ Mesquite 130,891 1,028,451 0.13 $8,943,100 $2,056,900 $11,000,000 $84 $2 2012 1997 $1,074,100 $8
Office buildings
Texas Health Resources Center 7115 Greenville Dallas 87,621 159,430 0.55 $16,710,900 $1,913,100 $18,624,000 $213 $12 2012 2002 4 $7,743,490 $88
2100 McKinney 2100 McKinney Dallas 374,654 136,491 2.74 $52,416,830 $12,284,190 $64,701,020 $173 $90 2012 1998 13 $8,349,040 $22
Knox Park Village 3001 Knox Dallas 79,127 87,172 0.91 $7,986,120 $3,486,880 $11,473,000 $145 $40 2012 2002 4 $1,534,810 $19
Hall Office Park (developed tracts only)Frisco 2,009,099 5,462,293 0.37 $238,659,643 $38,907,630 $277,567,273 $138 $7 2012
Chase Tower 2200 Ross Dallas 1,253,167 111,993 11.19 $165,244,190 $6,741,970 $171,986,160 $137 $60 2012 1985 55 $26,747,200 $21
5201 N. O'Connor 32,887 81,478 0.40 $6,979,220 $814,780 $7,794,000 $237 $10 1981 3
5205 N. O'Connor 411,592 222,967 1.85 $52,664,330 $2,229,670 $54,894,000 $133 $10 1981 14
5215 N. O'Connor 735,258 210,408 3.49 $90,074,920 $2,104,080 $92,179,000 $125 $10 1981 28
5221 N. O'Connor 411,592 157,408 2.61 $52,955,920 $1,574,080 $54,530,000 $132 $10 1981 14
Williams Center Irving 1,591,329 672,261 2.37 $202,674,390 $6,722,610 $209,397,000 $132 $10 2012
Facial Surgery Center 6101 Chapel Hill Plano 27,100 103,220 0.26 $2,342,101 $1,238,628 $3,580,729 $132 $12 2012 2003
TGI Friday's Headquarters 4201 Marsh Carrollton 138,598 520,324 0.27 $12,973,777 $5,203,240 $18,177,017 $131 $10 2012 2003 2 $1,841,000 $13
Trammell Crow Center 2001 Ross Dallas 1,245,324 95,048 13.10 $149,297,120 $5,702,880 $155,000,000 $124 $60 2012 1982 54 $22,650,010 $18
Accor (Billingsley)4001 International Carrollton 139,102 357,366 0.39 $12,288,105 $3,573,660 $15,861,765 $114 $10 2012 2003 2
Bailey Plaza 200 Bailey Fort Worth 37,064 62,233 0.60 $3,556,185 $373,398 $3,929,583 $106 $6 2012 $497,325 $13
Wayside Business Center 8222 N. Beltline Irving 136,000 452,588 0.30 $11,709,650 $1,810,350 $13,520,000 $99 $4 2012 2000 2 $1,085,990 $8
Nokia Building 4 6000 Connection Irving 366,000 478,186 0.77 $33,169,880 $2,869,120 $36,039,000 $98 $6 2012 1997 4 $30,352,120 $83
Fountain Place 1445 Ross Dallas 1,297,418 78,848 16.45 $115,003,160 $4,730,880 $119,734,040 $92 $60 2012 1984 60
ATT at Pinnacle Park 4331 Communications Dallas 207,992 520,978 0.40 $18,176,580 $1,823,420 $20,000,000 $96 $3 2012 2000 4 $137,960 $1
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 51
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
NEC America Buildings (2)6535 N. State Hwy 161 543,965 349,382 1.56 $38,800,710 $2,096,290 $40,897,000 $75 $6 1999 4 $7,242,970 $13
NEC America garage 6560 Parkridge 0 491,374 0.00 $4,505,040 $2,456,870 $6,961,910 $5 1999 4
NEC America Irving 543,965 840,756 0.65 $43,305,750 $4,553,160 $47,858,910 $88 $5 2012
1845 Woodall Rodgers 1845 Woodall Rodgers Dallas 185,007 36,190 5.11 $12,992,900 $3,257,100 $16,250,000 $88 $90 2012 1984 17 $2,347,240 $13
Citicorp North America 3950 Regent Irving 634,939 2,277,883 0.28 $43,010,580 $11,389,420 $54,400,000 $86 $5 2012 2005 3 $3,341,070 $5
Freeport Office Center Ph 3 8700 Freeport Irving 152,200 516,521 0.29 $10,832,180 $1,807,820 $12,640,000 $83 $3 2012 1998 2 $544,720 $4
740 East Campbell 740 E. Campbell Richardson 178,700 116,305 1.54 $13,449,040 $926,960 $14,376,000 $80 $8 2012 1986 10 $1,880,740 $11
5020 Riverside 5000 Riverside Irving 483,257 549,740 0.88 $33,265,960 $4,123,050 $37,389,010 $77 $8 2012 1986 4 $33,769,780
DFW Freeport 8th INST 8650 S. Freeport Irving 95,268 265,215 0.36 $5,751,750 $928,250 $6,680,000 $70 $3 2012 1998 2 $411,110 $4
Royal Regent Business Park 3660 Regent Irving 159,000 587,929 0.27 $5,060,350 $2,939,650 $8,000,000 $50 $5 2012 1999 2 $2,938,230 $18
Data centers
Bank of America (Bracebridge)3510 Wyndham Richardson 137,772 513,572 0.27 $51,988,699 $4,108,579 $56,097,278 $407 $8 2012 1999 $44,275,216 $321
AT&T Data Center 900 Venture Allen 126,000 372,786 0.34 $18,316,768 $2,050,326 $20,367,094 $162 $6 2012 $19,936,441 $158
Experian 3400 Stonebridge McKinney 74,530 566,801 0.13 $15,732,772 $2,267,228 $18,000,000 $242 $4 2012 $15,752,168 $211
New Cingular Wireless 800 Venture Allen 159,481 399,619 0.40 $18,728,701 $2,197,907 $20,926,608 $131 $6 2012 $177,538,249 $1,113
Bank of America (Equant)3000 Telecom Richardson 148,849 868,586 0.17 $28,786,781 $3,040,052 $31,826,833 $214 $3 2012 $31,581,133 $212
1001 E. Campbell Data Center 1001 E. Campbell Richardson 75,725 259,544 0.29 $5,634,030 $2,076,350 $7,710,380 $102 $8 2012 1980 1 $20,570,550 $272
State Farm Data Center 8225 Bent Branch Irving 251,160 996,783 0.25 $13,909,650 $2,990,350 $16,900,000 $67 $3 2012 1996 1 $28,272,470 $113
Residences, rental
Alta Uptown 2728 McKinnon Dallas 377,476 94,960 3.98 $59,007,200 $5,222,800 $64,230,000 $170 $55 2012 2007 19 375
Windsor at Trianon 2820 McKinnon Dallas 340,538 181,724 1.87 $40,005,180 $9,994,820 $50,000,000 $147 $55 2012 2004 4 317
Marquis on McKinney 3324 McKinney Dallas 141,392 39,814 3.55 $17,561,160 $2,388,940 $19,950,100 $141 $60 2012 2002 7 144
Ashton 2215 Cedar Springs Dallas 386,790 96,790 4.00 $43,744,760 $5,807,400 $49,552,160 $128 $60 2012 2003 18 267
Gables Ellis Street 3101 State Dallas 118,211 116,819 1.01 $10,372,240 $4,672,760 $15,045,000 $127 $40 2012 2001 3 82
The Mondrian 3000 Blackburn Dallas 361,984 123,275 2.94 $35,987,120 $8,012,880 $44,000,000 $122 $65 2012 2003 20 218
Jefferson at 1001 Ross 1001 Ross Dallas 222,581 77,816 2.86 $22,109,200 $3,890,800 $26,000,000 $117 $50 2012 2003 3 204
Hi Line Apartments 1551 Oak Lawn Dallas 343,060 214,489 1.60 $35,318,250 $3,217,340 $38,535,590 $112 $15 2012 2008 4 355
Cityville at Fitzhugh 2819 N. Fitzhugh Dallas 186,359 155,596 1.20 $17,866,180 $2,333,820 $20,200,000 $108 $15 2012 2004 3 222
Lofts at Las Colinas 1000 Lake Carolyn Irving 363,624 234,658 1.55 $35,643,420 $2,346,580 $37,990,000 $104 $10 2012 2003 4 341
Legacy Apartments - UDR 7008 Bishop Plano 312,593 200,986 1.56 $29,690,456 $2,411,830 $32,102,286 $103 $12 2012 2005
Galatyn Urban Center 2301 Performance Richardson 364,798 195,236 1.87 $35,928,580 $1,171,420 $37,100,000 $102 $6 2012 2007 4 278
Easton 2525 Henderson Dallas 128,630 129,198 1.00 $10,486,040 $2,583,960 $13,070,000 $102 $20 2012 2003 3 150
Pavilion Townplace 7700 W. Greenway Dallas 327,016 446,555 0.73 $19,294,350 $13,465,650 $32,760,000 $100 $30 2012 2001 3 273
Alta Cobb Hill 6000 Eldorado Frisco 360,589 1,001,401 0.36 $29,168,673 $6,008,405 $35,177,078 $98 $6 2012 2008 4 340
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 52
Appendix C:
Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area
(a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s)
Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per
Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address
Legacy Apartments - North 7560 Bishop Plano 328,176 295,772 1.11 $30,144,140 $1,774,634 $31,918,774 $97 $6 2012 2007
The Mission at La Villita - Ph 2 6714 Deseo Irving 161,973 253,911 0.64 $14,384,360 $1,015,640 $15,400,000 $95 $4 2012 2006 3 159
Cityville at Live Oak 4207 Live Oak Dallas 200,466 174,981 1.15 $17,250,200 $1,749,800 $19,000,000 $95 $10 2012 2003 3 239
Jefferson at Park Central 11903 Coit Dallas 540,919 603,524 0.90 $34,515,420 $14,484,580 $49,000,000 $91 $24 2012 1999 3 764
Northbridge at the Village 8603 Southwestern Dallas 355,524 715,125 0.50 $21,259,020 $10,726,880 $31,985,900 $90 $15 2012 1999 3 392
Canal Side Lofts 350 E. Las Colinas Irving 324,749 216,650 1.50 $25,833,330 $2,166,670 $28,000,000 $86 $10 2012 2005 306
Granite Cross Creek 2701 Grapevine Mills Grapevine 371,070 1,496,035 0.25 $28,583,921 $3,366,079 $31,950,000 $86 $2 2012 1999
Jefferson at Bryan Place 2801 Live Oak Dallas 322,533 182,255 1.77 $23,108,870 $3,645,100 $26,753,970 $83 $20 2012 2002 4 302
Monterra 301 W. Las Colinas Irving 318,005 286,407 1.11 $23,135,930 $2,864,070 $26,000,000 $82 $10 2012 2006 4 282
Bella Casita 851 Lake Carolyn Irving 276,758 233,307 1.19 $19,916,930 $2,333,070 $22,250,000 $80 $10 2012 2006 4 268
Hi Line Apartments 1900 Hi Line Dallas 341,000 160,605 2.12 $24,515,920 $2,409,080 $26,925,000 $79 $15 2012 2008 4 214
La Villita Phase 1 6504 Deseo Irving 183,274 186,175 0.98 $12,555,300 $744,700 $13,300,000 $73 $4 2012 2004 3 129
1520 N. Beckley 428,759 713,940 0.60 $19,600,600 $7,139,400 $26,740,000 $62 $10 2001 3 338
1401 N. Zang 290,902 605,528 0.48 $16,509,330 $6,055,280 $22,564,610 $78 $10 2003 3 336
Grand Estates at Kessler Park Dallas 719,661 1,319,468 0.55 $36,109,930 $13,194,680 $49,304,610 $69 $10 2012 2003 4 674
Mandalay on the Lake 620 Lake Carolyn Irving 463,152 320,645 1.44 $27,793,550 $3,206,450 $31,000,000 $67 $10 2012 2004 3 366
Parks of Austin Ranch Windhaven The Colony 576,720 1,061,034 0.54 $29,933,796 $6,366,204 $36,300,000 $63 $6 2012 1999 484
Jefferson at University 4400 W. University Dallas 482,441 458,600 1.05 $24,525,000 $4,586,000 $29,111,000 $60 $10 2012 2000 3 410
Mansions of Prosper 980 S. Coit Prosper 272,584 845,086 0.32 $12,883,057 $3,380,343 $16,263,400 $60 $4 2012 2008 2 308
Project Plan and Financing Plan, Prosper TIRZ Number Two Page 53