01.28.2025 TIRZ No. 1 Meeting PresentationWelcome to the January 28, 2025,
Prosper TIRZ No. 1
Board of Directors Meeting
Call to Order/Roll Call
Agenda Item 1.
Consider and act upon the minutes of the January 23, 2024, TIRZ No. 1
Board of Directors meeting. (MLS)
Agenda Item 2.
Receive the 2024 Annual Report. (HW/MN)
TIRZ No. 1
(Gates of Prosper)
TIRZ #1 BOUNDARY MAP
PUBLIC INFRASTRUCTURE / BUILDING PROJECTS
TIRZ #1 STATUS
ID Business Name Area
Claire’s 973
Target 136,361
Rally House 5,890
Alloy Fitness 1,866
Frost Bank 4,450
La Madeleine 7,956
Dutch Bros 950
Flea Style 1,918
TOTAL Square Footage 160,364
CO During Reporting Period
Residential
Gates MF: 199 of 344 units
Target
US HIGHWAY 380
Alloy Fitness
La Madeleine
Rally House
Multi-Family:
Buildings 6-13
(199 units)
Flea Style
Claire’s
Frost Bank
Dutch Bros
ID Business Name
Prime IV Hydration & Wellness
US HIGHWAY 380
Received a CO After Reporting Period
Prime IV
Hydration &
Wellness
ID Under Construction
Gates MF, Phase 2: 256 units
Starview SF: 173 lots
Outback Steakhouse
Permit Under Review
Home2 Suites: 119 guest rooms
J Alexander’s
NOT Yet Permitted
Barnes & Noble
Nordstrom Rack
REI
Total Wine & More
Underway and Upcoming
Single-Family:
173 lots
Multi-Family:
Phase 2
(256 units)Outback Steakhouse
Home2 Suites
J Alexander’s
CAPITAL
IMPROVEMENT
PLAN BUDGET
Reimbursement
Request No. 10
June 1, 2024
TIRZ FUND FINANCIAL STATEMENT
Revenues
CAPITAL DEBT
PROJECTS SERVICE TOTAL
Beginning Balance:
10/01/23 991,447$ -$ 991,447$
Revenues:
Property Tax:
Town 1,108,174$ -$ 1,108,174$
Delinquent - - -
County 231,790 - 231,790
Property Rollback Taxes 486,411 - 486,411
Sales Tax 2,240,000 - 2,240,000
Impact Fees:
Water Impact Fees 227,708 - 227,708
Wastewater Impact Fees 676,146 - 676,146
Thoroughfare Impact Fees 1,546,399 - 1,546,399
380 Construction Sales Office - - -
Interest 130,910 - 130,910
TOTAL REVENUES 6,647,538$ -$ 6,647,538$
TIRZ FUND FINANCIAL STATEMENT
Expenditures
CAPITAL DEBT
PROJECTS SERVICE TOTAL
Expenditures:
Land Purchases -$ -$ -$
Professional Services - - -
Construction/Improvements:
MDB Sewer 709,222 - 709,222
Richland & Lovers - - -
Gates Phase 1 - - -
Gates Phase 2 3,315,612 - 3,315,612
Lovers Lane - - -
SH289 Median Openings - - -
Multi-family Infrastructure 227,829 - 227,829
Interest Expense 844,220 - 844,220
TOTAL EXPENDITURES 5,096,884$ -$ 5,096,884$
Ending Balance:
09/30/24 2,542,101$ -$ 2,542,101$
REVENUES & EXPENDITURES
By Payments Made:
$44,413,313 of $57,909,475 Maximum Construction Costs Reimbursement - $13,496,162 Remaining
$48,289,075 of $93,079,000 Maximum Construction Cost Plus Interest Reimbursement - $44,789,925 Remaining
Total Charges 2017 2018 2019 2020 2021 2022 2023 2024 Total Payments Remaining Balance
Total Payment 1,176,006.57 1,846,744.76 1,512,514.84 3,125,727.91 2,135,557.37 5,229,933.76 3,607,317.77 5,096,883.79 23,730,686.77
Interest 3,875,761.33 383,092.54 468,265.03 310,937.13 189,479.64 523,288.16 591,877.82 564,600.78 844,220.23 3,875,761.33 -
Construction Costs 44,413,313.27 792,914.03 1,378,479.73 1,201,577.71 2,936,248.27 1,612,269.21 4,638,055.94 3,042,716.99 4,252,663.56 19,854,925.44 24,558,387.83
TIRZ #1 PROPERTY TAX ROLLBACK
REVENUES & EXPENDITURES
Property Tax Revenue
710,455
699,531 774,735
32,655,287
40,776,072
85,934,558
110,647,781
139,795,335
176,214,096
231,419,868
314,920,655
-
50,000,000
100,000,000
150,000,000
200,000,000
250,000,000
300,000,000
350,000,000
20142015201620172018201920202021202220232024Appraised Value
Appraised Value
810,076
1,108,174
172,956 231,790
3,339,157
3,960,127
4,322,189
5,300,091
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
Property Tax Revenue
Town County PISD Total
REVENUES & EXPENDITURES
Sales Tax Revenue
22,392
387,964
926,636
957,981
1,267,842
1,613,718
1,683,814
2,240,000
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2017 2018 2019 2020 2021 2022 2023 2024
Sales Tax Revenue
40% of Town’s 1% & 67% of EDC’s .5%
Sales Taxes
Adjourn
Welcome to the January 28, 2025,
Prosper TIRZ No. 2
Board of Directors Meeting
Call to Order/Roll Call
Agenda Item 1.
Consider and act upon the minutes of the January 23, 2024, TIRZ No. 2
Board of Directors meeting. (MLS)
Agenda Item 2.
Receive the 2024 Annual Report. (HW/MN)
TIRZ No. 2
TIRZ #2 BOUNDARY MAP
PUBLIC INFRASTRUCTURE / BUILDING PROJECTS
ID Business Name Area
Texas Health Resources (Medical Office)2,902
TOTAL Square Footage 2,902
Dallas North TollwayTexas Health
ResourcesMahard ParkwayUS Highway 380
CO During Reporting Period
Prairie Drive
Roadway Construction
Reimb. Agreement:
04/11/2022
Prairie
Drive
Mahard ParkwayShawnee TrailDallas North TollwayUS Highway 380
On Going
Lovers Lane
Mahard ParkwayDallas North TollwayUS Highway 380
Potential Agreement
CAPITAL IMPROVEMENT PLAN BUDGET
Reimbursement Request No. 10 – June 1, 2024
TIRZ FUND FINANCIAL STATEMENT
Revenues
CAPITAL DEBT
PROJECTS SERVICE TOTAL
Beginning Balance:
10/1/23 25,650$ -$ 25,650$
Revenues:
Property Tax:
Town 39,537$ - 39,537$
Delinquent - - -
County 8,270 - 8,270
Property Rollback Taxes 44,560 - 44,560
Sales Tax 14,782 - 14,782
Impact Fees:
Water Impact Fees - - -
Wastewater Impact Fees - - -
Thoroughfare Impact Fees - - -
380 Construction Sales Office - - -
Interest 3,224 - 3,224
TOTAL REVENUES 110,373$ -$ 110,373$
TIRZ FUND FINANCIAL STATEMENT
Expenditures
Expenditures:
Land Purchases -$ -$ -$
Professional Services - - -
Construction/Improvements:
Lower DB Sewer 110,272 - 110,272
Mahard Parkway - - -
Interest Expense - - -
TOTAL EXPENDITURES 110,272$ -$ 110,272$
Ending Balance:
9/30/24 25,751$ -$ 25,751$
CAPITAL DEBT
PROJECTS SERVICE TOTAL
REVENUES & EXPENDITURES
By Payments Made:
Total Charges PEDC Grant 2-May-2017 21-May-2019 30-Jun-2020 09/20 Int Recalc 30-Jun-21 30-Jun-22 01-Jul-23 31-Jul-24 Total Payments Remaining Balance
Total Payment 500,000.00 153,628.50 19,958.86 16,503.80 82,047.32 13,771.06 184,548.61 41,005.70 110,271.98 1,121,735.83 1,222,119.65
Interest 183,469.81 - 7,026.25 19,958.86 16,503.80 82,047.32 13,771.06 44,162.52 - - 183,469.81 -
Construction Costs 2,160,385.67 500,000.00 146,602.25 - - - - 140,386.09 41,005.70 110,271.98 938,266.02 1,222,119.65
TIRZ #2 PROPERTY TAX ROLLBACK
1. Tax Increment base and current captured appraised value retained by the zone:
A. Tax Increment base and current captured appraised value retained for Tax Year 2023:
Taxing
Jurisdiction
Net Taxable Value
Tax Year
2023
Base Year*
Value (with AG)
Jan. 1, 2014
Captured App. Value
Fiscal Year
2023- 2024
Town of Prosper $11,104,312 $29,413 $11,074,899
Collin County $11,104,312 $29,413 $11,074,899
B. Tax Increment base and expected captured appraised value for Tax Year 2024:
Taxing
Jurisdiction
Net Taxable Value
Tax Year
2024
Base Year*
Value (with AG)
Jan. 1, 2014
Captured App. Value
Fiscal Year
2024-2025
Town of Prosper $31,004,918 $29,413 $30,975,505
Collin County $31,004,918 $29,413 $30,975,505
* Base Year Value as of January 1, 2014, is for Fiscal Year 2013-2014.
Adjourn