20170411 TIRZ ANNUAL REPORTTown of Prosper
TIRZ No. 1 and TIRZ No. 2.
Board Meetings
April 11, 2017
“a place where everyone matters”
Town of Prosper
TIRZ No. 1
(Gates of Prosper)
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”TIRZ FUND
Financial Statement
CAPITAL DEBT
PROJECTS SERVICE TOTAL
Beginning Balance:
October 1, 2015 ($7,500) $ 0 ($7,500)
Revenues:
Property Tax $ 0 $ 0 $ 0
Impact Fees:
Water Impact Fees $18,627 0 $18,627
Wastewater Impact Fees $52,886 0 $52,886
Thoroughfare Impact Fees $512,298 0 $512,298
Interest $ 0 $ 0 $ 0
TOTAL REVENUES $ 583,811 $ 0 $ 583,811
Expenditures:
Land Purchases $ 0 $ 0 $ 0
Professional Services $ 0 $ 0 $ 0
Construction/Improvements $ 0 $ 0 $ 0
TOTAL EXPENDITURES $ 0 $ 0 $ 0
Ending Balance:
September 30, 2016 * $576,311 $ 0 $576,311
* Revenues reported as of September 30, 2016 is not reflected in the audited financial report.
This will be reported as a prior period adjustment in the FY ending September 30, 2017 audited
financial report.
Town of Prosper
“a place where everyone matters”
Town of Prosper, Texas
Tax Increment Reinvestment Zone #1
As of September 30, 2016
1. Amount and source of revenue in the tax increment fund established for the zone:
$576,311 Total Revenue
2. Amount and purpose of expenditures from the fund:
$0 Financing plan update.
3. Amount of Principal and Interest due on outstanding indebtedness is as follows:
A. Contributions /Advances from developers— $6,978,626.72.
B. Bonds issued and payment schedule to retire bonds— none.
4. Tax Increment base and current captured appraised value retained by the zone:
Taxing
Jurisdiction
Net Taxable Value
Fiscal Year
2015-2016
Base Year*
Value (with AG)
Jan. 1, 2008
Captured App. Value
Fiscal Year
2015-2016
Town of Prosper $32,655,287 $4,507,850 $28,147,437
Collin County $32,655,287 $4,507,850 $28,147,437
5. Captured appraised value by the municipality and other taxing units, the total amount of the
tax increment received, and any additional information necessary to demonstrate compliance
with the tax increment-financing plan adopted by the governing body of the municipality.
A. Captured appraised value shared by the municipality and other participating taxing jurisdictions
received in Fiscal Year 2015-2016:
Taxing
Jurisdiction
Participation
Per $100/Value
Amount of
Fiscal Year
2015-2016
Increment
Town of Prosper (70%) $ 0.520000 $ 102,457
Collin County (50%) $ 0.208395 $ 29,329
Total $ 0.728395 $ 131,786
B. Amount of tax increment received in 2016 from the municipality and the other taxing
jurisdictions based on 2015 valuations: $ 0
C. Other information: None
* Base Year Value as of January 1, 2008, is for Fiscal Year 2007-2008.
Town of Prosper
TIRZ No. 2
(Matthews Southwest)
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
Town of Prosper
“a place where everyone matters”
TIRZ FUND
Financial Statement
CAPITAL DEBT
PROJECTS SERVICE TOTAL
Beginning Balance:
October 1, 2015 $ 0 $ 0 $ 0
Revenues:
Property Tax $ 0 $ 0 $ 0
380 Impact Fees:
Thoroughfare Impact Fees $178,628.50 $0 $178,628.50
Interest $0 $ 0 $ 0
TOTAL REVENUES $ 178,628.50 $ 0 $ 178,628.50
Expenditures:
Land Purchases $ 0 $ 0 $ 0
Professional Services $ 0 $ 0 $ 0
Construction/Improvements $ 0 $ 0 $ 0
TOTAL EXPENDITURES $ 0 $ 0 $ 0
Ending Balance:
September 30, 2016* $ 178,628.50 $ 0 $ 178,628.50
* Revenues reported as of September 30, 2016 is not reflected in the audited financial report.
This will be reported as a prior period adjustment in the FY ending September 30, 2017 audited
financial report.
Town of Prosper
“a place where everyone matters”
Town of Prosper, Texas
Tax Increment Reinvestment Zone #2
As of September 30, 2016
1. Amount and source of revenue in the tax increment fund established for the zone:
$178.628.50 Total Revenue
2. Amount and purpose of expenditures from the fund:
$0 Total Expenditures
3. Amount of Principal and Interest due on outstanding indebtedness is as follows:
A. Contributions /Advances from developers— $1,355,274.39
B. Bonds issued and payment schedule to retire bonds— none.
4. Tax Increment base and current captured appraised value retained by the zone:
Taxing
Jurisdiction
Net Taxable Value
Fiscal Year
2015-2016
Base Year*
Value (with AG)
Jan. 1, 2014
Captured App. Value
Fiscal Year
2014 - 2015
Town of Prosper $24,786 $29,413 $ 0
Collin County $24,786 $29,413 $ 0
5. Captured appraised value by the municipality and other taxing units, the total amount of the
tax increment received, and any additional information necessary to demonstrate compliance
with the tax increment financing plan adopted by the governing body of the municipality.
A. Captured appraised value shared by the municipality and other participating taxing jurisdictions
received in Fiscal Year 2014-2015:
Taxing
Jurisdiction
Participation
Per $100/Value
Amount of
Fiscal Year
2014-2015
Increment
Town of Prosper (70%) $ 0.520000 $ 0
Collin County (50%) $ 0.208395 $ 0
Total $ 0.728395 $ 0
B. Amount of tax increment received in 2016 from the municipality and the other taxing
jurisdictions based on 2015 valuations: $ 0
C. Other information: None
* Base Year Value as of January 1, 2013, is for Fiscal Year 2012-2013.