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Agenda Packet TIRZ No. 2 04/28/2014TIRZ #2 Board Trophy Club Entities Meeting Agenda 100 Municipal Drive Trophy Club, Texas 76262 Public Services Conference Room6:00 PMMonday, April 28, 2014 CALL TO ORDER AND ANNOUNCE A QUORUM CITIZEN PRESENTATIONS 1.2014-1112-T Discuss and take appropriate action regarding election of a Vice-Chair recommendation to the Town Council. 2.2014-1113-T Presentation by David Pettit of Project and Financing Plan for Tax Increment Reinvestment Zone No. 2. Trophy Club TIRZ 2 Presentation - 04-21-14.pdfAttachments: 3.2014-1133-T Discuss and take appropriate action regarding a Resolution approving the Project and Financing Plan for Tax Increment Reinvestment Zone No. 2. RZ2-2014-01 - TIRZ#2 Project & Financing Plan Resolution.pdf TIRZ #2 Project and Financing Plan - 04-25-14 - FINAL.pdf Attachments: ADJOURN *THE BOARD MAY CONVENE INTO EXECUTIVE SESSION TO DISCUSS POSTED ITEMS AS ALLOWED BY THE TEXAS OPEN MEETINGS ACT, TEXAS LOCAL GOVERNMENT CODE 551.071. Notice is hereby given that a quorum of the Town Council may be in attendance at this meeting. TIRZ No. 2 Board Page 1 of 50 Monday, April 28, 2014 April 28, 2014TIRZ #2 Board Meeting Agenda CERTIFICATION I certify that the above notice was posted on the front window of the Svore Municipal Building, 100 Municipal Drive, Trophy Club, Texas, on April 25, 2014 by 5:00 P.M. in accordance with Chapter 551, Texas Government Code. _____________________________________________ Alora Wachholz Economic Development & Marketing Coordinator If you plan to attend this public meeting and have a disability that requires special needs, please contact the Town Secretary’s Office at 682-831-4600, 48 hours in advance and reasonable accommodations will be made to assist you. I certify that the attached notice and agenda of items to be considered by this Board was removed by me from the front window of the Svore Municipal Building, 100 Municipal Drive, Trophy Club, Texas, on the __________ day of ______________________, 2014. ________________________________, Title: ___________________________ TIRZ No. 2 Board Page 2 of 50 Monday, April 28, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-1112-T Name: Status:Type:Agenda Item Regular Session File created:In control:4/24/2014 TIRZ #2 Board On agenda:Final action:4/28/2014 Title:Discuss and take appropriate action regarding election of a Vice-Chair recommendation to the Town Council. Attachments: Action ByDate Action ResultVer. Discuss and take appropriate action regarding election of a Vice-Chair recommendation to the Town Council. TIRZ No. 2 Board Page 3 of 50 Monday, April 28, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-1113-T Name: Status:Type:Agenda Item Regular Session File created:In control:4/24/2014 TIRZ #2 Board On agenda:Final action:4/28/2014 Title:Presentation by David Pettit of Project and Financing Plan for Tax Increment Reinvestment Zone No. 2. Attachments:Trophy Club TIRZ 2 Presentation - 04-21-14.pdf Action ByDate Action ResultVer. Presentation by David Pettit of Project and Financing Plan for Tax Increment Reinvestment Zone No. 2. TIRZ No. 2 Board Page 4 of 50 Monday, April 28, 2014 Tax Increment Reinvestment Zone #2 Town of Trophy Club, TX 1 April 21, 2014 TIRZ No. 2 Board Page 5 of 50 Monday, April 28, 2014 •Public Hearing and Town Council consideration of an ordinance creating TIRZ #2. Ordinance establishes: Boundary Term Town participation rate TIRZ Board makeup Preliminary Project and Financing Plan •After TIRZ creation the Preliminary Project and Financing Plan will be considered by the TIRZ board and then brought back to Council for consideration through a separate ordinance. TIRZ #2 Overview 2 TIRZ No. 2 Board Page 6 of 50 Monday, April 28, 2014 •The proposed Town of Trophy Club TIRZ #2 is approximately 45 acres. •Located near the intersection of State Highway 114 and Trophy Club Drive. •The goal of the TIRZ is to facilitate the development of the currently vacant land. TIRZ #2 Overview 3 TIRZ No. 2 Board Page 7 of 50 Monday, April 28, 2014 4 TIRZ #2 Current Conditions Land Use •The majority of the land within the TIRZ is currently vacant. The exceptions include the small office space at the corner of Trophy Club Drive and Indian Creek Drive and the current municipal complex. Looking south with SH-114 in the background Looking east with SH-114 on the right Looking north with SH-114 in the foreground Looking west with SH-114 on the left TIRZ No. 2 Board Page 8 of 50 Monday, April 28, 2014 5 TIRZ #2 Anticipated Development TIRZ No. 2 Board Page 9 of 50 Monday, April 28, 2014 6 TIRZ #2 Financial Analysis Town of Trophy Club Taxable Value (Real Property): •The current year real taxable values (includes both Denton and Tarrant): $1,043,627,395 •Anticipated development new real property taxable value would be approximately: $157,694,300 100 % 15% Taxable Value Current Year Taxable Value Anticipated Development New Real Property Taxable Value TIRZ No. 2 Board Page 10 of 50 Monday, April 28, 2014 7 TIRZ #2 Financial Analysis Town of Trophy Club: •60% of its incremental real property tax revenue; and •25% of its $0.01 General Fund Sales Tax to the TIRZ fund. Potential Denton County and Municipal Utility District (MUD): •60% was utilized to identify potential incremental revenue. TIRZ No. 2 Board Page 11 of 50 Monday, April 28, 2014 8 TIRZ #2 Financial Analysis •A taxable value analysis was developed. •Examined potential development and anticipated revenues to the TIRZ. TIRZ No. 2 Board Page 12 of 50 Monday, April 28, 2014 9 TIRZ #2 Financial Analysis •Anticipated new tax revenue generated during the life of the TIRZ would be more than $190,000,000. •The anticipated gross revenue collected by TIRZ #2 over its 32 year life is:. Total Sales Tax $4,011,977 Total Real Property $30,179,796 Total Revenue $34,191,773 TIRZ No. 2 Board Page 13 of 50 Monday, April 28, 2014 10 TIRZ #2 Project Improvements •The preliminary project costs represent current assumptions of project build out and taxing jurisdiction participation. •If less development is delivered or the other taxing jurisdiction participation is less then the project increment will be less. •The Final Project and Financing Plan is approved by the TIRZ board and the Town Council through a separate ordinance. TIRZ No. 2 Board Page 14 of 50 Monday, April 28, 2014 11 TIRZ #2 Next Steps •April 21th - Town Council consideration of the TIRZ creation ordinance •TIRZ board consideration of Project and Financing Plan •Town Council consideration of Project and Financing Plan •Participation agreement consideration by County and MUD •TIRZ board consideration of appropriate development agreements consistent with the Project and Financing Plan TIRZ No. 2 Board Page 15 of 50 Monday, April 28, 2014 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12014-1133-T Name: Status:Type:Agenda Item Regular Session File created:In control:4/24/2014 TIRZ #2 Board On agenda:Final action:4/28/2014 Title:Discuss and take appropriate action regarding a Resolution approving the Project and Financing Plan for Tax Increment Reinvestment Zone No. 2. Attachments:RZ2-2014-01 - TIRZ#2 Project & Financing Plan Resolution.pdf TIRZ #2 Project and Financing Plan - 04-25-14 - FINAL.pdf Action ByDate Action ResultVer. Discuss and take appropriate action regarding a Resolution approving the Project and Financing Plan for Tax Increment Reinvestment Zone No. 2. TIRZ No. 2 Board Page 16 of 50 Monday, April 28, 2014 REINVESTMENT ZONE NO. 2, TOWN OF TROPHY CLUB, TEXAS RESOLUTION NO. RZ2 - 2014-01 A RESOLUTION OF THE BOARD OF DIRECTORS OF REINVESTMENT ZONE NUMBER 2, TOWN OF TROPHY CLUB, TEXAS APPROVING A PROJECT AND FINANCING PLAN FOR THE ZONE; PROVIDING FOR FINDINGS; PROVIDING FOR THE SUBMISSION OF THE PLAN TO THE TROPHY CLUB TOWN COUNCIL; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, as authorized by Chapter 311 of the Texas Tax Code (hereinafter referred to as the “Act”) and pursuant to Ordinance No. 2014-09, adopted by the Town Council of the Town of Trophy Club, Texas (hereinafter referred to as the “Town”) on April 21, 2014, the Town created Reinvestment Zone No. 2, Town of Trophy Club, Texas, (hereinafter referred to as “Zone”); and WHEREAS, pursuant to Ordinance No. 2014-09 the Town created the Board of Directors (hereinafter referred to as “Board”) for the Zone; and WHEREAS, the Board shall make recommendations to the Town Council concerning the administration, management and operation of the Zone; and WHEREAS, the Board shall prepare and adopt a project and financing plan and submit such plan to the Town Council for is approval; and WHEREAS, the Board has been provided a presentation on the preliminary project and financing plan; and WHEREAS, the Board finds that the project and financing plan is feasible and encourages further development within the Zone; and WHEREAS, the Board finds that the project and financing plan includes all information required by Section 311.011 (b) and (c) of the Act; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF REINVESTMENT ZONE NUMBER 1, TOWN OF TROPHY CLUB, TEXAS : Section 1. The project and financing plan for Reinvestment Zone Number 2, Town of Trophy Club, Texas is hereby approved and is attached hereto and incorporated herein as Exhibit “A”, hereinafter the “Plan”. Section 2. The Chair of the Board is authorized to sign this Resolution on the Board’s behalf and to submit the Plan to the Trophy Club Town Council for consideration and approval by ordinance. Section 3. This Resolution shall take effect upon immediately from and after its TIRZ No. 2 Board Page 17 of 50 Monday, April 28, 2014 passage. PASSED AND APPROVED by the Board of Directors of Reinvestment Zone Number 2, Town of Trophy Club, Texas on this the 28th day of April, 2014. David Brod, Chair TIRZ No. 2 Board Page 18 of 50 Monday, April 28, 2014 Tax Increment Reinvestment Zone #2 Town of Trophy Club, Texas PROJECT AND FINANCING PLAN Economic Development DAVID PETTIT TIRZ No. 2 Board Page 19 of 50 Monday, April 28, 2014 DISCLAIMER Our conclusions and recommendations are based on current market conditions and the expected performance of the national, and/or local economy and real estate market. Given that economic conditions can change and real estate markets are cyclical, it is critical to monitor the economy and real estate market continuously, and to revisit key project assumptions periodically to ensure that they are still justified. The future is difficult to predict, particularly given that the economy and housing markets can be cyclical, as well as subject to changing consumer and market psychology. There will usually be differences between projected and actual results because events and circumstances frequently do not occur as expected, and the differences may be material. 1 3 2 4 5 Table of Contents Introduction TIRZ Boundary Current Conditions & Ownership Project Plan Anticipated Development 6 7 8 Financial Feasibility Analysis Terms and Conditions Exhibit A 1 2 6 3 7 8 29 30 Preliminary Project and Financing Plan, TIRZ #2Economic Development DAVID PETTIT TIRZ No. 2 Board Page 20 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 1 Introduction Tax Increment Reinvestment Zone #2, Town of Trophy Club The Town of Trophy Club Tax Increment Reinvestment Zone (TIRZ) #2 is approximately 45 acres and is located in the south central portion of the Town of Trophy Club near the intersection of State Highway 114 and Trophy Club Drive. The majority of the land within the TIRZ is currently vacant. Exceptions include the small office space at the corner of Trophy Club Drive and Indian Creek Drive and the current municipal complex. The goal of the TIRZ is to facilitate the development of the currently vacant land with retail, office, residential, municipal and hospitality uses, while creating a unique cohesive development that builds on the high developments standards already established within the Town. The TIRZ will support these developments through the contribution of 60% of the Town’s real property increment, and 25% of the Town’s $0.01 general fund sales tax generated within the zone. Additionally, it is proposed that Denton County and the Municipal Utility District (MUD) would contribute 60% of its revenue to the TIRZ fund. Without the implementation of the TIRZ, the delineated property would continue to impair the sound growth of the municipality. Custom Map July 23, 2013 Made with Esri Business Analyst ©2013 Esri www.esri.com/ba 800-447-9778 Try it Now! Page 1 of 1 Source: Esri, DigitalGlobe, GeoEye, i-cubed, USDA, USGS, AEX, Getmapping, Aerogrid, IGN, IGP, swisstopo, and the GIS User Community Economic Development DAVID PETTIT TIRZ No. 2 Board Page 21 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 2 TIRZ Boundary TIRZ Boundary Description Beginning at the intersection of the northern Right-of-Way (ROW) line of State Highway 114 and the eastern property line of Abstract 823 C. Medlin Survey, Tract 22, thence West along the northern ROW line of State Highway 114, to a point where said line intersects with the western ROW line of Trophy Club Drive, thence North along the western ROW line of Trophy Club Drive, to a point where said line intersects with the western property line of Abstract 823 C. Medlin Survey, The Village at Trophy Club, Lot 3, thence Northwest along the western property line of Abstract 823 C. Medlin Survey, The Village at Trophy Club, Lot 3,v to a point where said line intersects with the northern boundary of Abstract 823 C. Medlin Survey, The Village at Trophy Club, Lot 3, thence Northeastward along the northern property line of Abstract 823 C. Medlin Survey, The Village at Trophy Club, Lot 3, to a point where said line intersects with the eastern boundary of Abstract 823 C. Medlin Survey, The Village at Trophy Club, Lot 3, thence Southeast along the eastern boundary of Abstract 823 C. Medlin Survey, The Village at Trophy Club, Lot 3, to a point where said line intersects with the western ROW line of Trophy Club Drive, thence Northeastward along the western ROW line of Trophy Club Drive, to a point where said line intersects with the southern property line of Abstract 823 C. Medlin Survey, Municipal Utility District NO. 1 Complex (MUD Complex), Block 1, Lot 1, thence West along the southern property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 1, to a point where said line intersects with the southern property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 2, thence West along the southern property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 2, to a point where said line intersects with the western property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 2, thence North along the western property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 2, to a point where said line intersects with the western property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 3, thence North along the western property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 3, to a point where said line intersects with the northern property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 3, thence East along the northern property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 3, to a point where said line intersects with the northern ROW Line of Municipal Drive, thence East along the northern property line of northern ROW Line of Municipal Drive , to a point where said line intersects with the western ROW line of Trophy Club Drive, thence North along the western ROW line of Trophy Club Drive to a point where said line intersects with the projection of the northern property line of Abstract 823 C. Medlin Survey, Tract 1A, thence East along the northern property line of Abstract 823 C. Medlin Survey, Tract 1A, to a point where said line intersects with the eastern property line of Abstract 823 C. Medlin Survey, Tract 1A, thence South along the eastern property line of Abstract 823 C. Medlin Survey, Tract 1A, to a point where said line intersects with the southern property line of Abstract 823 C. Medlin Survey, Tract 1A, thence West along the southern property line of Abstract 823 C. Medlin Survey, Tract 1A to a point where said line intersects with the eastern ROW line of Trophy Club Drive, thence South along the eastern ROW line of Trophy Club Drive to a point where said line intersects with the eastern ROW line of Indian Creek Drive, thence Southeastward along the eastern ROW line of Indian Creek Drive to a point where said line intersects with the project ion of the eastern property line of Abstract 823 C. Medlin Survey, Tract 22, thence South along the eastern property line of Abstract 823 C. Medlin Survey, Tract 22 to a point where said line intersects with the northern ROW line of State Highway 114, which is the point of beginning. Town Hall HWY 1 1 4 TROP H Y C L U B D R I N D I A N C R E E K D R HOGAN S D R SUNSE T D R WILS H I R E D R C Y P R E S S C T C A R N O U S T I E D R H A Y E S C T L E E C T BERKS H I R E C T LA K E F O R E S T C T S P Y G L A S S C T P O R T L A N D D R WE S T L A K E P K W Y COLO N I A L C T H A M P E R C T MUNICIPAL DR SUMMI T C O V E BROO K H O L L O W L N M I C H E L L E C T C E N T U R Y C T ST A N D R E W S C T TR O O N C T HWY 1 1 4 TROP H Y C L U B D R HWY 1 1 4 Eastern property line of Abstract 823 C. Medlin Survey, Tract 22 Northern Right-of-Way (ROW) line of State Highway 114 and the eastern property line of Abstract 823 C. Medlin Survey, Tract 22 Northern ROW Line of State Highway 114 Western ROW Line of Trophy Club Drive Western property line of Abstract 823 C. Medlin Survey, The Village at Trophy Club, Lot 3 Northern property line of Abstract 823 C. Medlin Survey, The Village at Trophy Club, Lot 3 Eastern property line of Abstract 823 C. Medlin Survey, The Village at Trophy Club, Lot 3 Western ROW Line of Trophy Club Drive Southern property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 1Southern property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 2 Western property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 2 Western property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 3 Northern property line of Abstract 823 C. Medlin Survey, MUD Complex, Block 1, Lot 3 Northern ROW Line of Municipal Drive Northern property line of Abstract 823 C. Medlin Survey, Tract 1A Eastern property line of Abstract 823 C. Medlin Survey, Tract 1A Southern property line of Abstract 823 C. Medlin Survey, Tract 1A Eastern ROW Line of Trophy Club Drive Eastern ROW Line of Indian Creek Drive Economic Development DAVID PETTIT TIRZ No. 2 Board Page 22 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 3 Current Conditions Land Use The majority of the land within the TIRZ is currently vacant. The exceptions include the small office space at the corner of Trophy Club Drive and Indian Creek Drive and the current municipal complex. Method of Relocating Persons to be Displaced The majority of the land is currently vacant undeveloped land and it is not anticipated that any persons will be displaced or need to be relocated as result of implementing the TIRZ. Looking south with SH-114 in the background Looking west with SH-114 on the left Looking north with SH-114 in the foreground Looking east with SH-114 on the right Economic Development DAVID PETTIT TIRZ No. 2 Board Page 23 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 4 Current Conditions Zoning The TIRZ property is to be an area with a mixture of moderately intense uses that are developed over an identifiable core. Buildings are close to and oriented toward the street. There is a connected street pattern, shared parking, and pedestrian amenities As new development is advanced it is likely that the current zoning will be change to accommodate the development. It is not anticipated that there will be any changes to the building code or other municipal ordinances at this time. Economic Development DAVID PETTIT TIRZ No. 2 Board Page 24 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 5 Current Conditions Current Ownership Information There are a three different property owners throughout the TIRZ, but the majority of land is owned by JSB Properties LP and Trophy Club Municipal. The TIRZ has a 2013 taxable base value of $5,589,082 and a sales tax base of $0.00. For a full list of parcels included within the TIRZ see Exhibit A. 65145017510020000 65019643010020700 65019643010020400 65145017510030000 HWY 1 1 4 TROP H Y C L U B D R I N D I A N C R E E K D R HOGAN S D R SUNSE T D R WILS H I R E D R C Y P R E S S C T C A R N O U S T I E D R H A Y E S C T L E E C T BERKS H I R E C T LA K E F O R E S T C T S P Y G L A S S C T P O R T L A N D D R WE S T L A K E P K W Y COLO N I A L C T H A M P E R C T MUNICIPAL DR SUMMI T C O V E PRECI N C T L I N E R D BROO K H O L L O W L N M I C H E L L E C T C E N T U R Y C T ST A N D R E W S C T BROOK H O L L O W C T TR O O N C T HWY 1 1 4 TROP H Y C L U B D R HWY 1 1 4 151108 171494 171495 68347 171493335141 35140 35139 185201 Economic Development DAVID PETTIT TIRZ No. 2 Board Page 25 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 6 Project Plan Project Costs of the Zone There are a number of improvements within Tax Increment Reinvestment Zone #2 that will be financed by in part by incremental real property and sales tax generated within the TIRZ. The costs illustrated in the table above are estimates and may be revised. Savings from one line item may be applied to a cost increase in another line item. It is estimated that project costs obligations will arise with new developments and will be reimbursed by the TIRZ on a pay as you go basis. TIRZ Project Costs Amount Water Facilities and Improvements 6,500,000$ Sanitary Sewer Facilities and Improvements 5,000,000$ Storm Water Facilities and Improvements 4,500,000$ Street and Intersection Improvements 9,000,000$ Open Space, Park and Recreation Facilities and Improvements 5,000,000$ Economic Development Grants 3,500,000$ Project Financing Costs 500,000$ Administrative Costs 200,000$ Total 34,200,000$ Economic Development DAVID PETTIT TIRZ No. 2 Board Page 26 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 7 Anticipated Development Anticipated Development There are several projects anticipated to be developed within TIRZ #2 including restaurants, office space, hospitality and residential. The map to the left provides an overview of potential developments that we believe will occur during the life of the TIRZ along with estimated dates of when the incremental revenue will flow into the TIRZ fund. Site plans on the map to the left should be considered conceptual drafts at this point and may not accurately portray the final developments. Economic Development DAVID PETTIT TIRZ No. 2 Board Page 27 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 8 Financial Feasibility Analysis Method of Financing To fund the public improvements outlined on the previous pages, it is anticipated that the Town of Trophy Club will contribute 60% of its incremental real property tax revenue and 25% of its $0.01 General Fund Sales Tax to the TIRZ Fund. Additionally, it is proposed that Denton County and the Municipal Utility District (MUD) would contribute 60% of its revenue to the TIRZ fund. Town of Trophy Club TIRZ #2 Participation Overview TIRZ Participation Overview Ad Valorem Tax Rate Participation %Participation Rate Trophy Club 0.4993000 60.00%0.2995800 Northwest ISD 1.3750000 0.00%0.0000000 Denton County 0.2828670 60.00%0.1697202 Trophy CLUB MUD 1 0.1333900 60.00%0.0800340 Total 2.3098000 0.5608800 Sales Tax Rate Participation %Participation Rate Town of Trophy Club General Fund 1.00%25.00%0.25% EDC 0.50%0.00%0.00% Crime Control 0.50%0.00%0.00% Street Maintenance 0.50%0.00%0.00% Total 2.00%0.25% Debt Service It is not anticipated at this time that the TIRZ will incur any bonded indebtedness. Economic Feasibility Study A taxable value analysis was developed as part of the preliminary project and financing plan to determine the economic feasibility of the project. The study examined the expected tax revenue the TIRZ would receive based on the previously outlined developments. A summary overview of the anticipated development square footages, the anticipated sales per square foot and the anticipated taxable value per square foot can be found to the right. The following pages show the estimated captured appraised value of the zone during each year of its existence and the net benefits of the zone to each of the local taxing jurisdictions. Utilizing the information outlined in this feasibility study, we have found that the TIRZ is economically feasible and will provide the Town with economic benefits that would not occur without its implementation. Anticipated Revenue Summary Based upon the assumptions above, the anticipated gross revenue of TIRZ #2 over its 32 year life is shown below. • Total Sales Tax Revenue $4,011,977 • Total Ad Valorem $30,179,796 • Total Revenue $34,191,773 TIF #2 Mixed Use Development Overview by Block Block Use Square Feet/Units Appraised Value PSF/Unit Estimated Appraised Value First Year of Tax Revenue A Retail 38,300 300$ 11,490,000$ 2017 B Retail 78,162 300$ 23,448,600$ 2017 B Multifamily 250 80,000$ 20,000,000$ 2017 C Office 160,000 200$ 32,000,000$ 2018 D Retail 17,054 300$ 5,116,200$ 2019 F Retail 23,700 300$ 7,110,000$ 2019 F Office 12,000 200$ 2,400,000$ 2019 G Office 40,000 200$ 8,000,000$ 2019 H Hotel 200 90,000$ 18,000,000$ 2019 H Retail 13,765 300$ 4,129,500$ 2020 I Brownstones 30 200,000$ 6,000,000$ 2017 H Office 100,000 200$ 20,000,000$ 2020 Total 157,694,300$ Economic Development DAVID PETTIT TIRZ No. 2 Board Page 28 of 50 Monday, April 28, 2014 TAXABLE BASE YEAR GROWTH 2.00% DISCOUNT RATE 6.00% Sales Tax Participation Trophy Club 0.4993000 60% 0.2995800 Trophy Club 0.4993000 0% 0.0000000 Northwest ISD 1.4525000 0% 0.0000000 Northwest ISD 1.4525000 0% 0.0000000 Denton County 0.2849140 60% 0.1709484 Denton County 0.2849140 0% 0.0000000 Trophy CLUB MUD 1 0.1333900 60% 0.0800340 Trophy CLUB MUD 1 0.1333900 0% 0.0000000 2.3701040 0.5505624 2.3701040 0.0000000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 REVENUE YEAR 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 TOTALS BASE YEAR Trophy Club 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 Northwest ISD 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 Denton County 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 Trophy CLUB MUD 1 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 TAXABLE VALUE Trophy Club 5,700,864 5,814,881 5,931,179 6,049,802 6,170,798 6,294,214 6,420,098 6,548,500 6,679,470 6,813,060 6,949,321 7,088,307 7,230,074 7,374,675 7,522,169 7,672,612 7,826,064 7,982,585 8,142,237 8,305,082 8,471,183 8,640,607 8,813,419 8,989,688 9,169,481 9,352,871 9,539,928 9,730,727 9,925,342 10,123,848 10,326,325 10,532,852 Northwest ISD 5,700,864 5,814,881 5,931,179 6,049,802 6,170,798 6,294,214 6,420,098 6,548,500 6,679,470 6,813,060 6,949,321 7,088,307 7,230,074 7,374,675 7,522,169 7,672,612 7,826,064 7,982,585 8,142,237 8,305,082 8,471,183 8,640,607 8,813,419 8,989,688 9,169,481 9,352,871 9,539,928 9,730,727 9,925,342 10,123,848 10,326,325 10,532,852 Denton County 5,700,864 5,814,881 5,931,179 6,049,802 6,170,798 6,294,214 6,420,098 6,548,500 6,679,470 6,813,060 6,949,321 7,088,307 7,230,074 7,374,675 7,522,169 7,672,612 7,826,064 7,982,585 8,142,237 8,305,082 8,471,183 8,640,607 8,813,419 8,989,688 9,169,481 9,352,871 9,539,928 9,730,727 9,925,342 10,123,848 10,326,325 10,532,852 Trophy CLUB MUD 1 5,700,864 5,814,881 5,931,179 6,049,802 6,170,798 6,294,214 6,420,098 6,548,500 6,679,470 6,813,060 6,949,321 7,088,307 7,230,074 7,374,675 7,522,169 7,672,612 7,826,064 7,982,585 8,142,237 8,305,082 8,471,183 8,640,607 8,813,419 8,989,688 9,169,481 9,352,871 9,539,928 9,730,727 9,925,342 10,123,848 10,326,325 10,532,852 TAXABLE VALUE INCREMENT Trophy Club 111,782 225,799 342,097 460,720 581,716 705,132 831,016 959,418 1,090,388 1,223,978 1,360,239 1,499,225 1,640,992 1,785,593 1,933,087 2,083,530 2,236,982 2,393,503 2,553,155 2,716,000 2,882,101 3,051,525 3,224,337 3,400,606 3,580,399 3,763,789 3,950,846 4,141,645 4,336,260 4,534,766 4,737,243 4,943,770 Northwest ISD 111,782 225,799 342,097 460,720 581,716 705,132 831,016 959,418 1,090,388 1,223,978 1,360,239 1,499,225 1,640,992 1,785,593 1,933,087 2,083,530 2,236,982 2,393,503 2,553,155 2,716,000 2,882,101 3,051,525 3,224,337 3,400,606 3,580,399 3,763,789 3,950,846 4,141,645 4,336,260 4,534,766 4,737,243 4,943,770 Denton County 111,782 225,799 342,097 460,720 581,716 705,132 831,016 959,418 1,090,388 1,223,978 1,360,239 1,499,225 1,640,992 1,785,593 1,933,087 2,083,530 2,236,982 2,393,503 2,553,155 2,716,000 2,882,101 3,051,525 3,224,337 3,400,606 3,580,399 3,763,789 3,950,846 4,141,645 4,336,260 4,534,766 4,737,243 4,943,770 Trophy CLUB MUD 1 111,782 225,799 342,097 460,720 581,716 705,132 831,016 959,418 1,090,388 1,223,978 1,360,239 1,499,225 1,640,992 1,785,593 1,933,087 2,083,530 2,236,982 2,393,503 2,553,155 2,716,000 2,882,101 3,051,525 3,224,337 3,400,606 3,580,399 3,763,789 3,950,846 4,141,645 4,336,260 4,534,766 4,737,243 4,943,770 REVENUE A TAXABLE VALUE GROWTH OF EXISTING PROPERTIES Trophy Club 335 676 1,025 1,380 1,743 2,112 2,490 2,874 3,267 3,667 4,075 4,491 4,916 5,349 5,791 6,242 6,702 7,170 7,649 8,137 8,634 9,142 9,659 10,188 10,726 11,276 11,836 12,408 12,991 13,585 14,192 14,811 219,537 Trophy Club Northwest ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Northwest ISD Denton County 191 386 585 788 994 1,205 1,421 1,640 1,864 2,092 2,325 2,563 2,805 3,052 3,305 3,562 3,824 4,092 4,365 4,643 4,927 5,217 5,512 5,813 6,121 6,434 6,754 7,080 7,413 7,752 8,098 8,451 125,274 Denton County Trophy CLUB MUD 1 89 181 274 369 466 564 665 768 873 980 1,089 1,200 1,313 1,429 1,547 1,668 1,790 1,916 2,043 2,174 2,307 2,442 2,581 2,722 2,866 3,012 3,162 3,315 3,470 3,629 3,791 3,957 58,650 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL A 122,143 615 1,243 1,883 2,537 3,203 3,882 4,575 5,282 6,003 6,739 7,489 8,254 9,035 9,831 10,643 11,471 12,316 13,178 14,057 14,953 15,868 16,801 17,752 18,722 19,712 20,722 21,752 22,802 23,874 24,967 26,081 27,219 403,461 REVENUE #1 - BLOCK A REAL PROPERTY TAX 0 0 5,745,000 11,490,000 11,719,800 11,954,196 12,193,280 12,437,146 12,685,888 12,939,606 13,198,398 13,462,366 13,731,614 14,006,246 14,286,371 14,572,098 14,863,540 15,160,811 15,464,027 15,773,308 16,088,774 16,410,549 16,738,760 17,073,536 17,415,006 17,763,306 18,118,573 18,480,944 18,850,563 19,227,574 19,612,126 20,004,368 BUSINESS PERSONAL PROPERTY 0 0 383,000 766,000 781,320 796,946 812,885 829,143 845,726 862,640 879,893 897,491 915,441 933,750 952,425 971,473 990,903 1,010,721 1,030,935 1,051,554 1,072,585 1,094,037 1,115,917 1,138,236 1,161,000 1,184,220 1,207,905 1,232,063 1,256,704 1,281,838 1,307,475 1,333,625 Trophy Club 0 0 17,211 34,422 35,110 35,812 36,529 37,259 38,004 38,764 39,540 40,331 41,137 41,960 42,799 43,655 44,528 45,419 46,327 47,254 48,199 49,163 50,146 51,149 52,172 53,215 54,280 55,365 56,473 57,602 58,754 59,929 1,352,507 Trophy Club Northwest ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Northwest ISD Denton County 0 0 9,821 19,642 20,035 20,436 20,844 21,261 21,686 22,120 22,562 23,014 23,474 23,943 24,422 24,911 25,409 25,917 26,436 26,964 27,504 28,054 28,615 29,187 29,771 30,366 30,973 31,593 32,225 32,869 33,527 34,197 771,777 Denton County Trophy CLUB MUD 1 0 0 4,598 9,196 9,380 9,567 9,759 9,954 10,153 10,356 10,563 10,774 10,990 11,210 11,434 11,663 11,896 12,134 12,376 12,624 12,876 13,134 13,397 13,665 13,938 14,217 14,501 14,791 15,087 15,389 15,696 16,010 361,328 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #1 919,212 0 0 31,630 63,260 64,525 65,815 67,132 68,474 69,844 71,241 72,665 74,119 75,601 77,113 78,655 80,228 81,833 83,470 85,139 86,842 88,579 90,350 92,157 94,000 95,880 97,798 99,754 101,749 103,784 105,860 107,977 110,137 2,485,612 REVENUE #2 - BLOCK B + I REAL PROPERTY TAX 0 0 24,724,300 37,086,450 49,448,600 50,437,572 51,446,323 52,475,250 53,524,755 54,595,250 55,687,155 56,800,898 57,936,916 59,095,654 60,277,567 61,483,119 62,712,781 63,967,037 65,246,378 66,551,305 67,882,331 69,239,978 70,624,777 72,037,273 73,478,018 74,947,579 76,446,530 77,975,461 79,534,970 81,125,670 82,748,183 84,403,147 BUSINESS PERSONAL PROPERTY 0 0 844,120 1,266,180 1,688,240 1,722,005 1,756,445 1,791,574 1,827,405 1,863,953 1,901,232 1,939,257 1,978,042 2,017,603 2,057,955 2,099,114 2,141,097 2,183,918 2,227,597 2,272,149 2,317,592 2,363,944 2,411,222 2,459,447 2,508,636 2,558,809 2,609,985 2,662,184 2,715,428 2,769,737 2,825,131 2,881,634 Trophy Club 0 0 74,069 111,104 148,138 151,101 154,123 157,205 160,349 163,556 166,828 170,164 173,567 177,039 180,580 184,191 187,875 191,632 195,465 199,374 203,362 207,429 211,578 215,809 220,125 224,528 229,019 233,599 238,271 243,036 247,897 252,855 5,673,869 Trophy Club Northwest ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Northwest ISD Denton County 0 0 42,266 63,399 84,532 86,222 87,947 89,706 91,500 93,330 95,196 97,100 99,042 101,023 103,044 105,104 107,206 109,351 111,538 113,768 116,044 118,365 120,732 123,147 125,609 128,122 130,684 133,298 135,964 138,683 141,457 144,286 3,237,662 Denton County Trophy CLUB MUD 1 0 0 19,788 29,682 39,576 40,367 41,175 41,998 42,838 43,695 44,569 45,460 46,369 47,297 48,243 49,207 50,192 51,195 52,219 53,264 54,329 55,416 56,524 57,654 58,807 59,984 61,183 62,407 63,655 64,928 66,227 67,551 1,515,797 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #2 3,830,930 0 0 136,123 204,184 272,245 277,690 283,244 288,909 294,687 300,581 306,593 312,724 318,979 325,358 331,866 338,503 345,273 352,178 359,222 366,406 373,735 381,209 388,833 396,610 404,542 412,633 420,886 429,304 437,890 446,647 455,580 464,692 10,427,328 ESTIMATE OF GENERAL IMPACT OF PROPOSED ZONE PROPERTY VALUES AND TAX REVENUES BUSINESS PERSONAL PROPERTY TAXREAL PROPERTY TAX 0.25% Preliminary Project and Financing Plan, TIRZ #2 9 Financial Feasibility Analysis Economic Development DAVID PETTIT TIRZ No. 2 Board Page 29 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 10 Financial Feasibility Analysis REVENUE #3 - BLOCK C + H REAL PROPERTY TAX 0 0 0 24,000,000 49,500,000 70,129,500 71,532,090 72,962,732 74,421,986 75,910,426 77,428,635 78,977,207 80,556,752 82,167,887 83,811,244 85,487,469 87,197,219 88,941,163 90,719,986 92,534,386 94,385,074 96,272,775 98,198,231 100,162,195 102,165,439 104,208,748 106,292,923 108,418,781 110,587,157 112,798,900 115,054,878 117,355,976 BUSINESS PERSONAL PROPERTY 0 0 0 800,000 1,406,475 1,875,300 1,912,806 1,951,062 1,990,083 2,029,885 2,070,483 2,111,892 2,154,130 2,197,213 2,241,157 2,285,980 2,331,700 2,378,334 2,425,901 2,474,419 2,523,907 2,574,385 2,625,873 2,678,390 2,731,958 2,786,597 2,842,329 2,899,176 2,957,159 3,016,302 3,076,628 3,138,161 Trophy Club 0 0 0 71,899 148,292 210,094 214,296 218,582 222,953 227,412 231,961 236,600 241,332 246,159 251,082 256,103 261,225 266,450 271,779 277,215 282,759 288,414 294,182 300,066 306,067 312,189 318,432 324,801 331,297 337,923 344,681 351,575 7,645,820 Trophy Club Northwest ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Northwest ISD Denton County 0 0 0 41,028 84,619 119,885 122,283 124,729 127,223 129,768 132,363 135,010 137,710 140,465 143,274 146,139 149,062 152,043 155,084 158,186 161,350 164,577 167,868 171,226 174,650 178,143 181,706 185,340 189,047 192,828 196,684 200,618 4,362,910 Denton County Trophy CLUB MUD 1 0 0 0 19,208 39,617 56,127 57,250 58,395 59,563 60,754 61,969 63,209 64,473 65,762 67,077 68,419 69,787 71,183 72,607 74,059 75,540 77,051 78,592 80,164 81,767 83,402 85,070 86,772 88,507 90,277 92,083 93,925 2,042,612 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #3 4,968,267 0 0 0 132,135 272,528 386,107 393,829 401,705 409,739 417,934 426,293 434,819 443,515 452,385 461,433 470,662 480,075 489,677 499,470 509,460 519,649 530,042 540,643 551,455 562,484 573,734 585,209 596,913 608,851 621,028 633,449 646,118 14,051,342 REVENUE #4 - BLOCK D REAL PROPERTY TAX 0 0 0 0 2,558,100 3,837,150 5,116,200 5,218,524 5,322,894 5,429,352 5,537,939 5,648,698 5,761,672 5,876,906 5,994,444 6,114,333 6,236,619 6,361,352 6,488,579 6,618,350 6,750,717 6,885,732 7,023,446 7,163,915 7,307,193 7,453,337 7,602,404 7,754,452 7,909,541 8,067,732 8,229,087 8,393,668 BUSINESS PERSONAL PROPERTY 0 0 0 0 170,540 255,810 341,080 347,902 354,860 361,957 369,196 376,580 384,111 391,794 399,630 407,622 415,775 424,090 432,572 441,223 450,048 459,049 468,230 477,594 487,146 496,889 506,827 516,963 527,303 537,849 548,606 559,578 Trophy Club 0 0 0 0 7,664 11,495 15,327 15,634 15,946 16,265 16,591 16,922 17,261 17,606 17,958 18,317 18,684 19,057 19,438 19,827 20,224 20,628 21,041 21,462 21,891 22,329 22,775 23,231 23,695 24,169 24,653 25,146 535,237 Trophy Club Northwest ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Northwest ISD Denton County 0 0 0 0 4,373 6,560 8,746 8,921 9,099 9,281 9,467 9,656 9,849 10,046 10,247 10,452 10,661 10,875 11,092 11,314 11,540 11,771 12,006 12,247 12,492 12,741 12,996 13,256 13,521 13,792 14,067 14,349 305,420 Denton County Trophy CLUB MUD 1 0 0 0 0 2,047 3,071 4,095 4,177 4,260 4,345 4,432 4,521 4,611 4,704 4,798 4,894 4,991 5,091 5,193 5,297 5,403 5,511 5,621 5,734 5,848 5,965 6,085 6,206 6,330 6,457 6,586 6,718 142,991 Trophy CLUB MUD 1 SUBTOTAL #4 339,244 0 0 0 0 14,084 21,126 28,168 28,731 29,306 29,892 30,490 31,100 31,722 32,356 33,003 33,663 34,336 35,023 35,724 36,438 37,167 37,910 38,668 39,442 40,231 41,035 41,856 42,693 43,547 44,418 45,306 46,212 983,648 REVENUE #5 - BLOCK E REAL PROPERTY TAX 0 0 0 0 4,755,000 7,132,500 9,510,000 9,700,200 9,894,204 10,092,088 10,293,930 10,499,808 10,709,805 10,924,001 11,142,481 11,365,330 11,592,637 11,824,490 12,060,979 12,302,199 12,548,243 12,799,208 13,055,192 13,316,296 13,582,622 13,854,274 14,131,360 14,413,987 14,702,267 14,996,312 15,296,238 15,602,163 BUSINESS PERSONAL PROPERTY 0 0 0 0 297,000 445,500 594,000 605,880 617,998 630,358 642,965 655,824 668,940 682,319 695,966 709,885 724,083 738,564 753,336 768,402 783,770 799,446 815,435 831,743 848,378 865,346 882,653 900,306 918,312 936,678 955,412 974,520 Trophy Club 0 0 0 0 14,245 21,368 28,490 29,060 29,641 30,234 30,839 31,455 32,084 32,726 33,381 34,048 34,729 35,424 36,132 36,855 37,592 38,344 39,111 39,893 40,691 41,505 42,335 43,181 44,045 44,926 45,824 46,741 994,899 Trophy Club Northwest ISD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Northwest ISD Denton County 0 0 0 0 8,129 12,193 16,257 16,582 16,914 17,252 17,597 17,949 18,308 18,674 19,048 19,429 19,817 20,214 20,618 21,030 21,451 21,880 22,318 22,764 23,219 23,684 24,157 24,640 25,133 25,636 26,149 26,672 567,716 Denton County Trophy CLUB MUD 1 0 0 0 0 3,806 5,708 7,611 7,763 7,919 8,077 8,239 8,403 8,571 8,743 8,918 9,096 9,278 9,464 9,653 9,846 10,043 10,244 10,449 10,658 10,871 11,088 11,310 11,536 11,767 12,002 12,242 12,487 265,791 Trophy CLUB MUD 1 SUBTOTAL #5 630,587 0 0 0 0 26,179 39,269 52,358 53,406 54,474 55,563 56,675 57,808 58,964 60,143 61,346 62,573 63,825 65,101 66,403 67,731 69,086 70,468 71,877 73,315 74,781 76,276 77,802 79,358 80,945 82,564 84,215 85,900 1,828,406 REVENUE #6 - SALES SALES TAX 0 0 17,469,300 29,076,450 38,783,562 41,375,601 43,898,009 44,775,969 45,671,489 46,584,919 47,516,617 48,466,949 49,436,288 50,425,014 51,433,514 52,462,185 53,511,428 54,581,657 55,673,290 56,786,756 57,922,491 59,080,941 60,262,559 61,467,811 62,697,167 63,951,110 65,230,132 66,534,735 67,865,430 69,222,738 70,607,193 72,019,337 1,604,790,641 Trophy Club SUBTOTAL #6 1,462,323 0 0 43,673 72,691 96,959 103,439 109,745 111,940 114,179 116,462 118,792 121,167 123,591 126,063 128,584 131,155 133,779 136,454 139,183 141,967 144,806 147,702 150,656 153,670 156,743 159,878 163,075 166,337 169,664 173,057 176,518 180,048 4,011,977 TIF REVENUE A, 1, 2, 3, 4, 5, 6 615 1,243 213,309 474,806 749,723 897,328 939,051 958,448 978,232 998,412 1,018,996 1,039,991 1,061,406 1,083,250 1,105,530 1,128,256 1,151,437 1,175,081 1,199,198 1,223,797 1,248,889 1,274,482 1,300,587 1,327,214 1,354,374 1,382,077 1,410,334 1,439,156 1,468,555 1,498,541 1,529,127 1,560,325 34,191,773 Total Taxable Value 5,700,864 5,814,881 36,400,479 78,626,252 124,152,298 149,785,132 156,217,992 159,342,352 162,529,199 165,779,783 169,095,378 172,477,286 175,926,832 179,445,368 183,034,276 186,694,961 190,428,860 194,237,437 198,122,186 202,084,630 206,126,323 210,248,849 214,453,826 218,742,902 223,117,761 227,580,116 232,131,718 236,774,352 241,509,839 246,340,036 251,266,837 256,292,174 TIF Revenue Running Total 615 1,859 215,168 689,974 1,439,698 2,337,026 3,276,077 4,234,525 5,212,757 6,211,169 7,230,164 8,270,155 9,331,562 10,414,812 11,520,342 12,648,598 13,800,035 14,975,116 16,174,314 17,398,112 18,647,001 19,921,483 21,222,070 22,549,284 23,903,658 25,285,735 26,696,069 28,135,225 29,603,780 31,102,321 32,631,448 34,191,773 NET PRESENT VALUE @ 6%12,272,706 GROSS 34,191,773 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 Trophy Club 7,344,626 335 676 135,978 291,496 452,151 535,422 560,999 572,554 584,340 596,362 608,624 621,131 633,889 646,901 660,174 673,712 687,522 701,607 715,974 730,628 745,576 760,822 776,373 792,236 808,415 824,919 841,752 858,922 876,435 894,299 912,519 931,105 20,433,845 Northwest ISD - 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Denton County 3,356,600 191 386 52,672 124,856 202,682 246,501 257,498 262,839 268,287 273,843 279,511 285,293 291,190 297,205 303,340 309,598 315,981 322,491 329,132 335,906 342,815 349,863 357,051 364,383 371,862 379,490 387,271 395,208 403,303 411,560 419,982 428,573 9,370,760 Trophy CLUB MUD 1 1,571,481 89 181 24,660 58,455 94,891 115,406 120,554 123,055 125,605 128,207 130,861 133,567 136,328 139,144 142,016 144,946 147,935 150,983 154,092 157,263 160,498 163,797 167,163 170,596 174,097 177,668 181,311 185,027 188,817 192,683 196,626 200,648 4,387,168 TOTALS 615 1,243 213,309 474,806 749,723 897,328 939,051 958,448 978,232 998,412 1,018,996 1,039,991 1,061,406 1,083,250 1,105,530 1,128,256 1,151,437 1,175,081 1,199,198 1,223,797 1,248,889 1,274,482 1,300,587 1,327,214 1,354,374 1,382,077 1,410,334 1,439,156 1,468,555 1,498,541 1,529,127 1,560,325 34,191,773 Economic Development DAVID PETTIT TIRZ No. 2 Board Page 30 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 11 Financial Feasibility Analysis $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 Total Annual Tax Revenue Generated Trophy CLUB MUD 1 Denton County Northwest ISD Trophy Club $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 Potential TIF Tax Revenue Trophy CLUB MUD 1 Denton County Trophy Club 85,269,462 82,466,146 16,176,082 7,573,259 30 Year Gross Economic Impact Trophy Club Northwest ISD Denton County Trophy CLUB MUD 1 20,433,845 9,370,760 4,387,168 30 Year Potential TIF Revenue Trophy Club Denton County Trophy CLUB MUD 1 64,835,617 82,466,146 6,805,323 3,186,091 30 Year Net Benefit Trophy Club Northwest ISD Denton County Trophy CLUB MUD 1 Economic Development DAVID PETTIT TIRZ No. 2 Board Page 31 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 12 Financial Feasibility Analysis ►INPUT INFLATION RATE 2.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.49930000 60%0.2995800 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 60%0.1709484 Trophy CLUB MUD 1 0.13339000 60%0.0800340 2.37010400 0.5505624 PERSONAL PROPERTY TAX Trophy Club 0.49930000 0%0.0000000 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.37010400 0.0000000 Sales Tax Rate 0.0200000 12.50%0.0025000 Block A AREA Year SF/UNITS $ / SF TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE Retail 2017 38,300 300.00$ 11,490,000$ 20.00$ 766,000$ 300.00$ 11,490,000$ Office TOTAL 38,300 11,490,000 766,000 11,490,000 ►OUTPUT TOTAL TAX REVENUE TOTAL Trophy Club 55.9%11,433,813$ =2,254,179$ +150,279$ +9,029,355$ Northwest ISD 34.2%6,994,741$ =6,557,569$ +437,171$ +-$ Denton County 6.7%1,372,048$ =1,286,295$ +85,753$ +-$ Trophy CLUB MUD 1 3.1%642,360$ =602,213$ +40,148$ +-$ 100.0%20,442,962 10,700,256$ 713,350$ 9,029,355$ 100.0%52.3%3.5%44.2% TOTAL PARTICIPATION TOTAL Trophy Club 68.6%2,481,177$ =1,352,507$ +-$ +1,128,669$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Denton County 21.4%771,777$ =771,777$ +-$ +-$ Trophy CLUB MUD 1 10.0%361,328$ =361,328$ +-$ +-$ 100.0%3,614,281$ 2,485,612$ -$ 1,128,669$ 100.0%68.8%0.0%31.2% NET BENEFIT TOTAL Trophy Club 53.2%8,952,636$ =901,671$ +150,279$ +7,900,686$ Northwest ISD 41.6%6,994,741$ =6,557,569$ +437,171$ +-$ Denton County 3.6%600,271$ =514,518$ +85,753$ +-$ Trophy CLUB MUD 1 1.7%281,033$ =240,885$ +40,148$ +-$ 100.0%16,828,680$ 8,214,644$ 713,350$ 7,900,686$ 100.0%48.8%4.2%46.9% REAL PROPERTY PERSONAL PROPERTY SALES 30 YEAR - BLOCK A : INPUT & OUTPUT PARTICIPATION PARTICIPATION SALES REAL PROPERTY PERSONAL PROPERTY SALES SALES REAL PROPERTY PERSONAL PROPERTY REAL PROPERTY PERSONAL PROPERTY Economic Development DAVID PETTIT TIRZ No. 2 Board Page 32 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 13 Financial Feasibility Analysis Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 % OCCUPIED 0%0%50% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% REAL PROPERTY Taxable Value - - 5,745,000 11,490,000 11,719,800 11,954,196 12,193,280 12,437,146 12,685,888 12,939,606 13,198,398 13,462,366 13,731,614 14,006,246 14,286,371 14,572,098 14,863,540 15,160,811 15,464,027 15,773,308 16,088,774 16,410,549 16,738,760 17,073,536 17,415,006 17,763,306 18,118,573 18,480,944 18,850,563 19,227,574 19,612,126 20,004,368 PV GROSS Trophy Club 883,642 - - 28,685 57,370 58,517 59,687 60,881 62,099 63,341 64,607 65,900 67,218 68,562 69,933 71,332 72,758 74,214 75,698 77,212 78,756 80,331 81,938 83,577 85,248 86,953 88,692 90,466 92,275 94,121 96,003 97,923 99,882 2,254,179 Northwest ISD 2,570,580 - - 83,446 166,892 170,230 173,635 177,107 180,650 184,263 187,948 191,707 195,541 199,452 203,441 207,510 211,660 215,893 220,211 224,615 229,107 233,689 238,363 243,130 247,993 252,953 258,012 263,172 268,436 273,804 279,281 284,866 290,563 6,557,569 D e nton County 504,230 - - 16,368 32,737 33,391 34,059 34,740 35,435 36,144 36,867 37,604 38,356 39,123 39,906 40,704 41,518 42,348 43,195 44,059 44,940 45,839 46,756 47,691 48,645 49,618 50,610 51,622 52,655 53,708 54,782 55,878 56,995 1,286,295 Trophy CLUB MUD 1 236,069 - - 7,663 15,327 15,633 15,946 16,265 16,590 16,922 17,260 17,605 17,957 18,317 18,683 19,057 19,438 19,826 20,223 20,627 21,040 21,461 21,890 22,328 22,774 23,230 23,694 24,168 24,652 25,145 25,648 26,161 26,684 602,213 Total 3,957,095 - - 136,162 272,325 277,771 283,327 288,993 294,773 300,669 306,682 312,816 319,072 325,454 331,963 338,602 345,374 352,281 359,327 366,514 373,844 381,321 388,947 396,726 404,661 412,754 421,009 429,429 438,018 446,778 455,714 464,828 474,124 10,700,256 % OCCUPIED 0%0%50% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% PERSONAL PROPERTY Taxable Value - 383,000 766,000 781,320 796,946 812,885 829,143 845,726 862,640 879,893 897,491 915,441 933,750 952,425 971,473 990,903 1,010,721 1,030,935 1,051,554 1,072,585 1,094,037 1,115,917 1,138,236 1,161,000 1,184,220 1,207,905 1,232,063 1,256,704 1,281,838 1,307,475 1,333,625 PV GROSS Trophy Club 58,909 - - 1,912 3,825 3,901 3,979 4,059 4,140 4,223 4,307 4,393 4,481 4,571 4,662 4,755 4,851 4,948 5,047 5,147 5,250 5,355 5,463 5,572 5,683 5,797 5,913 6,031 6,152 6,275 6,400 6,528 6,659 150,279 Northwest ISD 171,372 - - 5,563 11,126 11,349 11,576 11,807 12,043 12,284 12,530 12,780 13,036 13,297 13,563 13,834 14,111 14,393 14,681 14,974 15,274 15,579 15,891 16,209 16,533 16,864 17,201 17,545 17,896 18,254 18,619 18,991 19,371 437,171 Denton County 33,615 - - 1,091 2,182 2,226 2,271 2,316 2,362 2,410 2,458 2,507 2,557 2,608 2,660 2,714 2,768 2,823 2,880 2,937 2,996 3,056 3,117 3,179 3,243 3,308 3,374 3,441 3,510 3,581 3,652 3,725 3,800 85,753 Trophy CLUB MUD 1 15,738 - - 511 1,022 1,042 1,063 1,084 1,106 1,128 1,151 1,174 1,197 1,221 1,246 1,270 1,296 1,322 1,348 1,375 1,403 1,431 1,459 1,489 1,518 1,549 1,580 1,611 1,643 1,676 1,710 1,744 1,779 40,148 Total 263,806 - - 9,077 18,155 18,518 18,888 19,266 19,652 20,045 20,445 20,854 21,271 21,697 22,131 22,573 23,025 23,485 23,955 24,434 24,923 25,421 25,930 26,448 26,977 27,517 28,067 28,629 29,201 29,785 30,381 30,989 31,608 713,350 % OCCUPIED 0%0%50% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% SALES TAX Taxable Value - 5,745,000 11,490,000 11,719,800 11,954,196 12,193,280 12,437,146 12,685,888 12,939,606 13,198,398 13,462,366 13,731,614 14,006,246 14,286,371 14,572,098 14,863,540 15,160,811 15,464,027 15,773,308 16,088,774 16,410,549 16,738,760 17,073,536 17,415,006 17,763,306 18,118,573 18,480,944 18,850,563 19,227,574 19,612,126 20,004,368 PV GROSS Total 3,339,174 - - 114,900 229,800 234,396 239,084 243,866 248,743 253,718 258,792 263,968 269,247 274,632 280,125 285,727 291,442 297,271 303,216 309,281 315,466 321,775 328,211 334,775 341,471 348,300 355,266 362,371 369,619 377,011 384,551 392,243 400,087 9,029,355 SUMMARY PV GROSS Trophy Club 4,482,077 - - 145,497 290,994 296,814 302,750 308,805 314,981 321,281 327,707 334,261 340,946 347,765 354,720 361,815 369,051 376,432 383,961 391,640 399,473 407,462 415,611 423,924 432,402 441,050 449,871 458,869 468,046 477,407 486,955 496,694 506,628 11,433,813 Northwest ISD 2,741,952 - - 89,009 178,018 181,579 185,210 188,915 192,693 196,547 200,478 204,487 208,577 212,748 217,003 221,344 225,770 230,286 234,891 239,589 244,381 249,269 254,254 259,339 264,526 269,816 275,213 280,717 286,331 292,058 297,899 303,857 309,934 6,994,741 Denton County 537,845 - - 17,460 34,919 35,617 36,330 37,056 37,798 38,553 39,325 40,111 40,913 41,732 42,566 43,417 44,286 45,172 46,075 46,996 47,936 48,895 49,873 50,870 51,888 52,926 53,984 55,064 56,165 57,288 58,434 59,603 60,795 1,372,048 Trophy CLUB MUD 1 251,807 - - 8,174 16,348 16,675 17,009 17,349 17,696 18,050 18,411 18,779 19,155 19,538 19,928 20,327 20,734 21,148 21,571 22,003 22,443 22,892 23,349 23,816 24,293 24,779 25,274 25,780 26,295 26,821 27,358 27,905 28,463 642,360 Total 7,560,076 - - 260,140 520,280 530,686 541,299 552,125 563,168 574,431 585,920 597,638 609,591 621,783 634,218 646,903 659,841 673,038 686,498 700,228 714,233 728,518 743,088 757,950 773,109 788,571 804,342 820,429 836,838 853,574 870,646 888,059 905,820 20,442,962 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Economic Development DAVID PETTIT TIRZ No. 2 Board Page 33 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 14 PARTICIPATION REAL PROPERTY Taxable Value - - 5,745,000 11,490,000 11,719,800 11,954,196 12,193,280 12,437,146 12,685,888 12,939,606 13,198,398 13,462,366 13,731,614 14,006,246 14,286,371 14,572,098 14,863,540 15,160,811 15,464,027 15,773,308 16,088,774 16,410,549 16,738,760 17,073,536 17,415,006 17,763,306 18,118,573 18,480,944 18,850,563 19,227,574 19,612,126 20,004,368 PV GROSS Trophy Club 530,185 - - 17,211 34,422 35,110 35,812 36,529 37,259 38,004 38,764 39,540 40,331 41,137 41,960 42,799 43,655 44,528 45,419 46,327 47,254 48,199 49,163 50,146 51,149 52,172 53,215 54,280 55,365 56,473 57,602 58,754 59,929 1,352,507 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 302,538 - - 9,821 19,642 20,035 20,436 20,844 21,261 21,686 22,120 22,562 23,014 23,474 23,943 24,422 24,911 25,409 25,917 26,436 26,964 27,504 28,054 28,615 29,187 29,771 30,366 30,973 31,593 32,225 32,869 33,527 34,197 771,777 Trophy CLUB MUD 1 141,641 - - 4,598 9,196 9,380 9,567 9,759 9,954 10,153 10,356 10,563 10,774 10,990 11,210 11,434 11,663 11,896 12,134 12,376 12,624 12,876 13,134 13,397 13,665 13,938 14,217 14,501 14,791 15,087 15,389 15,696 16,010 361,328 Total 919,212 - - 31,630 63,260 64,525 65,815 67,132 68,474 69,844 71,241 72,665 74,119 75,601 77,113 78,655 80,228 81,833 83,470 85,139 86,842 88,579 90,350 92,157 94,000 95,880 97,798 99,754 101,749 103,784 105,860 107,977 110,137 2,485,612 PERSONAL PROPERTY Taxable Value - - 383,000 766,000 781,320 796,946 812,885 829,143 845,726 862,640 879,893 897,491 915,441 933,750 952,425 971,473 990,903 1,010,721 1,030,935 1,051,554 1,072,585 1,094,037 1,115,917 1,138,236 1,161,000 1,184,220 1,207,905 1,232,063 1,256,704 1,281,838 1,307,475 1,333,625 PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value - - 5,745,000 11,490,000 11,719,800 11,954,196 12,193,280 12,437,146 12,685,888 12,939,606 13,198,398 13,462,366 13,731,614 14,006,246 14,286,371 14,572,098 14,863,540 15,160,811 15,464,027 15,773,308 16,088,774 16,410,549 16,738,760 17,073,536 17,415,006 17,763,306 18,118,573 18,480,944 18,850,563 19,227,574 19,612,126 20,004,368 PV GROSS Total 417,397 - - 14,363 28,725 29,300 29,885 30,483 31,093 31,715 32,349 32,996 33,656 34,329 35,016 35,716 36,430 37,159 37,902 38,660 39,433 40,222 41,026 41,847 42,684 43,538 44,408 45,296 46,202 47,126 48,069 49,030 50,011 1,128,669 SUMMARY PV GROSS Trophy Club 972,626 - - 31,573 63,147 64,410 65,698 67,012 68,352 69,719 71,113 72,536 73,986 75,466 76,976 78,515 80,085 81,687 83,321 84,987 86,687 88,421 90,189 91,993 93,833 95,709 97,624 99,576 101,568 103,599 105,671 107,784 109,940 2,481,177 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 302,538 - - 9,821 19,642 20,035 20,436 20,844 21,261 21,686 22,120 22,562 23,014 23,474 23,943 24,422 24,911 25,409 25,917 26,436 26,964 27,504 28,054 28,615 29,187 29,771 30,366 30,973 31,593 32,225 32,869 33,527 34,197 771,777 Trophy CLUB MUD 1 141,641 - - 4,598 9,196 9,380 9,567 9,759 9,954 10,153 10,356 10,563 10,774 10,990 11,210 11,434 11,663 11,896 12,134 12,376 12,624 12,876 13,134 13,397 13,665 13,938 14,217 14,501 14,791 15,087 15,389 15,696 16,010 361,328 Total 1,336,609 - - 45,992 91,985 93,824 95,701 97,615 99,567 101,558 103,590 105,661 107,775 109,930 112,129 114,371 116,659 118,992 121,372 123,799 126,275 128,801 131,377 134,004 136,684 139,418 142,206 145,050 147,951 150,911 153,929 157,007 160,147 3,614,281 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 3,509,451 - - 113,924 227,847 232,404 237,053 241,794 246,629 251,562 256,593 261,725 266,960 272,299 277,745 283,300 288,966 294,745 300,640 306,653 312,786 319,041 325,422 331,931 338,569 345,341 352,248 359,293 366,478 373,808 381,284 388,910 396,688 8,952,636 Northwest ISD 2,741,952 - - 89,009 178,018 181,579 185,210 188,915 192,693 196,547 200,478 204,487 208,577 212,748 217,003 221,344 225,770 230,286 234,891 239,589 244,381 249,269 254,254 259,339 264,526 269,816 275,213 280,717 286,331 292,058 297,899 303,857 309,934 6,994,741 Denton County 235,307 - - 7,639 15,277 15,583 15,894 16,212 16,536 16,867 17,204 17,549 17,900 18,258 18,623 18,995 19,375 19,763 20,158 20,561 20,972 21,392 21,819 22,256 22,701 23,155 23,618 24,090 24,572 25,064 25,565 26,076 26,598 600,271 Trophy CLUB MUD 1 110,165 - - 3,576 7,152 7,295 7,441 7,590 7,742 7,897 8,055 8,216 8,380 8,548 8,719 8,893 9,071 9,252 9,437 9,626 9,819 10,015 10,215 10,420 10,628 10,841 11,057 11,279 11,504 11,734 11,969 12,208 12,452 281,033 Total 6,223,467 - - 214,148 428,295 436,861 445,598 454,510 463,601 472,873 482,330 491,977 501,816 511,853 522,090 532,531 543,182 554,046 565,127 576,429 587,958 599,717 611,711 623,945 636,424 649,153 662,136 675,379 688,886 702,664 716,717 731,052 745,673 16,828,680 Economic Development DAVID PETTIT TIRZ No. 2 Board Page 34 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 15 Financial Feasibility Analysis ►INPUT INFLATION RATE 2.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.49930000 60%0.2995800 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 60%0.1709484 Trophy CLUB MUD 1 0.13339000 60%0.0800340 2.37010400 0.5505624 PERSONAL PROPERTY TAX Trophy Club 0.49930000 0%0.0000000 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.37010400 0.0000000 Sales Tax Rate 0.0200000 12.50%0.0025000 Block B + I AREA Year SF/UNITS $ / SF TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE Retail 2017 78,162 300.00$ 23,448,600$ 20.00$ 1,563,240$ 300.00$ 23,448,600$ Multifamily 2017 250 80,000$ 20,000,000$ 500$ 125,000$ -$ -$ Brownstones 2017 30 200,000$ 6,000,000$ -$ -$ -$ -$ TOTAL 78,442 49,448,600 1,688,240 23,448,600 OUTPUT ► TOTAL TAX REVENUE TOTAL Trophy Club 43.1%27,741,499$ =9,456,449$ +322,856$ +17,962,195$ Northwest ISD 44.2%28,448,707$ =27,509,496$ +939,210$ +-$ Denton County 8.7%5,580,334$ =5,396,104$ +184,230$ +-$ Trophy CLUB MUD 1 4.1%2,612,580$ =2,526,328$ +86,252$ +-$ 100.0%64,383,120 44,888,377$ 1,532,548$ 17,962,195$ 100.0%69.7%2.4%27.9% TOTAL PARTICIPATION TOTAL Trophy Club 62.5%7,919,144$ =5,673,869$ +-$ +2,245,274$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Denton County 25.5%3,237,662$ =3,237,662$ +-$ +-$ Trophy CLUB MUD 1 12.0%1,515,797$ =1,515,797$ +-$ +-$ 100.0%12,672,603$ 10,427,328$ -$ 2,245,274$ 100.0%82.3%0.0%17.7% NET BENEFIT TOTAL Trophy Club 38.3%19,822,356$ =3,782,579$ +322,856$ +15,716,921$ Northwest ISD 55.0%28,448,707$ =27,509,496$ +939,210$ +-$ Denton County 4.5%2,342,672$ =2,158,441$ +184,230$ +-$ Trophy CLUB MUD 1 2.1%1,096,783$ =1,010,531$ +86,252$ +-$ 100.0%51,710,517$ 34,461,049$ 1,532,548$ 15,716,921$ 100.0%66.6%3.0%30.4% REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY 30 YEAR - BLOCK B + I : INPUT & OUTPUT PARTICIPATION PARTICIPATION REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY SALES PERSONAL PROPERTY SALES Economic Development DAVID PETTIT TIRZ No. 2 Board Page 35 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 16 Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 % OCCUPIED 0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% REAL PROPERTY Taxable Value - 24,724,300 37,086,450 49,448,600 50,437,572 51,446,323 52,475,250 53,524,755 54,595,250 55,687,155 56,800,898 57,936,916 59,095,654 60,277,567 61,483,119 62,712,781 63,967,037 65,246,378 66,551,305 67,882,331 69,239,978 70,624,777 72,037,273 73,478,018 74,947,579 76,446,530 77,975,461 79,534,970 81,125,670 82,748,183 84,403,147 PV GROSS Trophy Club 3,682,690 - - 123,448 185,173 246,897 251,835 256,871 262,009 267,249 272,594 278,046 283,607 289,279 295,065 300,966 306,985 313,125 319,387 325,775 332,291 338,936 345,715 352,630 359,682 366,876 374,213 381,698 389,331 397,118 405,060 413,162 421,425 9,456,449 Northwest ISD 10,713,212 - - 359,120 538,681 718,241 732,606 747,258 762,203 777,447 792,996 808,856 825,033 841,534 858,364 875,532 893,042 910,903 929,121 947,704 966,658 985,991 1,005,711 1,025,825 1,046,341 1,067,268 1,088,614 1,110,386 1,132,594 1,155,245 1,178,350 1,201,917 1,225,956 27,509,496 Denton County 2,101,442 - - 70,443 105,664 140,886 143,704 146,578 149,509 152,500 155,550 158,661 161,834 165,070 168,372 171,739 175,174 178,677 182,251 185,896 189,614 193,406 197,274 201,220 205,244 209,349 213,536 217,807 222,163 226,606 231,138 235,761 240,476 5,396,104 Trophy CLUB MUD 1 983,845 - - 32,980 49,470 65,959 67,279 68,624 69,997 71,397 72,825 74,281 75,767 77,282 78,828 80,404 82,012 83,653 85,326 87,032 88,773 90,548 92,359 94,206 96,091 98,012 99,973 101,972 104,011 106,092 108,214 110,378 112,585 2,526,328 Total 16,491,688 - - 585,992 878,987 1,171,983 1,195,423 1,219,331 1,243,718 1,268,592 1,293,964 1,319,843 1,346,240 1,373,165 1,400,628 1,428,641 1,457,214 1,486,358 1,516,085 1,546,407 1,577,335 1,608,882 1,641,059 1,673,881 1,707,358 1,741,505 1,776,336 1,811,862 1,848,100 1,885,062 1,922,763 1,961,218 2,000,442 44,888,377 % OCCUPIED 0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% PERSONAL PROPERTY Taxable Value - - 844,120 1,266,180 1,688,240 1,722,005 1,756,445 1,791,574 1,827,405 1,863,953 1,901,232 1,939,257 1,978,042 2,017,603 2,057,955 2,099,114 2,141,097 2,183,918 2,227,597 2,272,149 2,317,592 2,363,944 2,411,222 2,459,447 2,508,636 2,558,809 2,609,985 2,662,184 2,715,428 2,769,737 2,825,131 2,881,634 PV GROSS Trophy Club 125,732 - - 4,215 6,322 8,429 8,598 8,770 8,945 9,124 9,307 9,493 9,683 9,876 10,074 10,275 10,481 10,690 10,904 11,122 11,345 11,572 11,803 12,039 12,280 12,526 12,776 13,032 13,292 13,558 13,829 14,106 14,388 322,856 Northwest ISD 365,763 - - 12,261 18,391 24,522 25,012 25,512 26,023 26,543 27,074 27,615 28,168 28,731 29,306 29,892 30,490 31,099 31,721 32,356 33,003 33,663 34,336 35,023 35,723 36,438 37,167 37,910 38,668 39,442 40,230 41,035 41,856 939,210 Denton County 71,746 - - 2,405 3,608 4,810 4,906 5,004 5,104 5,207 5,311 5,417 5,525 5,636 5,748 5,863 5,981 6,100 6,222 6,347 6,474 6,603 6,735 6,870 7,007 7,147 7,290 7,436 7,585 7,737 7,891 8,049 8,210 184,230 Trophy CLUB MUD 1 33,590 - - 1,126 1,689 2,252 2,297 2,343 2,390 2,438 2,486 2,536 2,587 2,639 2,691 2,745 2,800 2,856 2,913 2,971 3,031 3,091 3,153 3,216 3,281 3,346 3,413 3,481 3,551 3,622 3,695 3,768 3,844 86,252 Total 563,048 - - 20,007 30,010 40,013 40,813 41,630 42,462 43,311 44,178 45,061 45,962 46,882 47,819 48,776 49,751 50,746 51,761 52,796 53,852 54,929 56,028 57,148 58,291 59,457 60,646 61,859 63,097 64,358 65,646 66,959 68,298 1,532,548 % OCCUPIED 0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% SALES TAX Taxable Value - - 11,724,300 17,586,450 23,448,600 23,917,572 24,395,923 24,883,842 25,381,519 25,889,149 26,406,932 26,935,071 27,473,772 28,023,248 28,583,713 29,155,387 29,738,495 30,333,264 30,939,930 31,558,728 32,189,903 32,833,701 33,490,375 34,160,182 34,843,386 35,540,254 36,251,059 36,976,080 37,715,602 38,469,914 39,239,312 40,024,098 PV GROSS Total 6,995,141 - - 234,486 351,729 468,972 478,351 487,918 497,677 507,630 517,783 528,139 538,701 549,475 560,465 571,674 583,108 594,770 606,665 618,799 631,175 643,798 656,674 669,807 683,204 696,868 710,805 725,021 739,522 754,312 769,398 784,786 800,482 17,962,195 SUMMARY PV GROSS Trophy Club 10,803,563 - - 362,149 543,224 724,298 738,784 753,560 768,631 784,004 799,684 815,677 831,991 848,631 865,603 882,916 900,574 918,585 936,957 955,696 974,810 994,306 1,014,192 1,034,476 1,055,166 1,076,269 1,097,794 1,119,750 1,142,145 1,164,988 1,188,288 1,212,054 1,236,295 27,741,499 Northwest ISD 11,078,975 - - 371,381 557,072 742,763 757,618 772,770 788,226 803,990 820,070 836,471 853,201 870,265 887,670 905,423 923,532 942,003 960,843 980,059 999,661 1,019,654 1,040,047 1,060,848 1,082,065 1,103,706 1,125,780 1,148,296 1,171,262 1,194,687 1,218,581 1,242,952 1,267,811 28,448,707 Denton County 2,173,188 - - 72,848 109,272 145,696 148,610 151,582 154,614 157,706 160,860 164,077 167,359 170,706 174,120 177,603 181,155 184,778 188,473 192,243 196,088 200,009 204,010 208,090 212,252 216,497 220,827 225,243 229,748 234,343 239,030 243,810 248,687 5,580,334 Trophy CLUB MUD 1 1,017,435 - - 34,106 51,159 68,211 69,576 70,967 72,387 73,834 75,311 76,817 78,353 79,921 81,519 83,149 84,812 86,509 88,239 90,004 91,804 93,640 95,512 97,423 99,371 101,359 103,386 105,453 107,563 109,714 111,908 114,146 116,429 2,612,580 Total 23,653,925 - - 840,484 1,260,726 1,680,968 1,714,588 1,748,879 1,783,857 1,819,534 1,855,925 1,893,043 1,930,904 1,969,522 2,008,913 2,049,091 2,090,073 2,131,874 2,174,512 2,218,002 2,262,362 2,307,609 2,353,761 2,400,837 2,448,853 2,497,830 2,547,787 2,598,743 2,650,718 2,703,732 2,757,807 2,812,963 2,869,222 64,383,120 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Economic Development DAVID PETTIT TIRZ No. 2 Board Page 36 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 17 Financial Feasibility Analysis PARTICIPATION REAL PROPERTY Taxable Value - - 24,724,300 37,086,450 49,448,600 50,437,572 51,446,323 52,475,250 53,524,755 54,595,250 55,687,155 56,800,898 57,936,916 59,095,654 60,277,567 61,483,119 62,712,781 63,967,037 65,246,378 66,551,305 67,882,331 69,239,978 70,624,777 72,037,273 73,478,018 74,947,579 76,446,530 77,975,461 79,534,970 81,125,670 82,748,183 84,403,147 PV GROSS Trophy Club 2,209,614 - - 74,069 111,104 148,138 151,101 154,123 157,205 160,349 163,556 166,828 170,164 173,567 177,039 180,580 184,191 187,875 191,632 195,465 199,374 203,362 207,429 211,578 215,809 220,125 224,528 229,019 233,599 238,271 243,036 247,897 252,855 5,673,869 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 1,260,865 - - 42,266 63,399 84,532 86,222 87,947 89,706 91,500 93,330 95,196 97,100 99,042 101,023 103,044 105,104 107,206 109,351 111,538 113,768 116,044 118,365 120,732 123,147 125,609 128,122 130,684 133,298 135,964 138,683 141,457 144,286 3,237,662 Trophy CLUB MUD 1 590,307 - - 19,788 29,682 39,576 40,367 41,175 41,998 42,838 43,695 44,569 45,460 46,369 47,297 48,243 49,207 50,192 51,195 52,219 53,264 54,329 55,416 56,524 57,654 58,807 59,984 61,183 62,407 63,655 64,928 66,227 67,551 1,515,797 Total 3,830,930 - - 136,123 204,184 272,245 277,690 283,244 288,909 294,687 300,581 306,593 312,724 318,979 325,358 331,866 338,503 345,273 352,178 359,222 366,406 373,735 381,209 388,833 396,610 404,542 412,633 420,886 429,304 437,890 446,647 455,580 464,692 10,427,328 PERSONAL PROPERTY Taxable Value - - 844,120 1,266,180 1,688,240 1,722,005 1,756,445 1,791,574 1,827,405 1,863,953 1,901,232 1,939,257 1,978,042 2,017,603 2,057,955 2,099,114 2,141,097 2,183,918 2,227,597 2,272,149 2,317,592 2,363,944 2,411,222 2,459,447 2,508,636 2,558,809 2,609,985 2,662,184 2,715,428 2,769,737 2,825,131 2,881,634 PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value - - 11,724,300 17,586,450 23,448,600 23,917,572 24,395,923 24,883,842 25,381,519 25,889,149 26,406,932 26,935,071 27,473,772 28,023,248 28,583,713 29,155,387 29,738,495 30,333,264 30,939,930 31,558,728 32,189,903 32,833,701 33,490,375 34,160,182 34,843,386 35,540,254 36,251,059 36,976,080 37,715,602 38,469,914 39,239,312 40,024,098 PV GROSS Total 874,393 - - 29,310.75 43,966.13 58,621.50 59,793.93 60,989.81 62,209.60 63,453.80 64,722.87 66,017.33 67,337.68 68,684.43 70,058.12 71,459.28 72,888.47 74,346.24 75,833.16 77,349.82 78,896.82 80,474.76 82,084.25 83,725.94 85,400.46 87,108.47 88,850.63 90,627.65 92,440.20 94,289.00 96,174.78 98,098.28 100,060.25 2,245,274 SUMMARY PV GROSS Trophy Club 3,084,006 - - 103,380 155,070 206,760 210,895 215,113 219,415 223,803 228,279 232,845 237,502 242,252 247,097 252,039 257,080 262,221 267,466 272,815 278,271 283,837 289,513 295,304 301,210 307,234 313,379 319,646 326,039 332,560 339,211 345,995 352,915 7,919,144 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 1,260,865 - - 42,266 63,399 84,532 86,222 87,947 89,706 91,500 93,330 95,196 97,100 99,042 101,023 103,044 105,104 107,206 109,351 111,538 113,768 116,044 118,365 120,732 123,147 125,609 128,122 130,684 133,298 135,964 138,683 141,457 144,286 3,237,662 Trophy CLUB MUD 1 590,307 - - 19,788 29,682 39,576 40,367 41,175 41,998 42,838 43,695 44,569 45,460 46,369 47,297 48,243 49,207 50,192 51,195 52,219 53,264 54,329 55,416 56,524 57,654 58,807 59,984 61,183 62,407 63,655 64,928 66,227 67,551 1,515,797 Total 4,655,829 - - 165,433 248,150 330,867 337,484 344,234 351,119 358,141 365,304 372,610 380,062 387,663 395,417 403,325 411,391 419,619 428,012 436,572 445,303 454,209 463,294 472,559 482,011 491,651 501,484 511,513 521,744 532,179 542,822 553,679 564,752 12,672,603 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 7,719,556 - - 258,769 388,154 517,539 527,889 538,447 549,216 560,200 571,404 582,833 594,489 606,379 618,507 630,877 643,494 656,364 669,491 682,881 696,539 710,470 724,679 739,173 753,956 769,035 784,416 800,104 816,106 832,428 849,077 866,059 883,380 19,822,356 Northwest ISD 11,078,975 - - 371,381 557,072 742,763 757,618 772,770 788,226 803,990 820,070 836,471 853,201 870,265 887,670 905,423 923,532 942,003 960,843 980,059 999,661 1,019,654 1,040,047 1,060,848 1,082,065 1,103,706 1,125,780 1,148,296 1,171,262 1,194,687 1,218,581 1,242,952 1,267,811 28,448,707 Denton County 912,323 - - 30,582 45,873 61,164 62,388 63,635 64,908 66,206 67,530 68,881 70,259 71,664 73,097 74,559 76,050 77,571 79,123 80,705 82,319 83,966 85,645 87,358 89,105 90,887 92,705 94,559 96,450 98,379 100,347 102,354 104,401 2,342,672 Trophy CLUB MUD 1 427,128 - - 14,318 21,477 28,636 29,208 29,793 30,388 30,996 31,616 32,248 32,893 33,551 34,222 34,907 35,605 36,317 37,043 37,784 38,540 39,311 40,097 40,899 41,717 42,551 43,402 44,270 45,156 46,059 46,980 47,920 48,878 1,096,783 Total 18,998,096 - - 675,051 1,012,576 1,350,101 1,377,103 1,404,645 1,432,738 1,461,393 1,490,621 1,520,433 1,550,842 1,581,859 1,613,496 1,645,766 1,678,681 1,712,255 1,746,500 1,781,430 1,817,059 1,853,400 1,890,468 1,928,277 1,966,843 2,006,180 2,046,303 2,087,229 2,128,974 2,171,553 2,214,984 2,259,284 2,304,470 51,710,517 Economic Development DAVID PETTIT TIRZ No. 2 Board Page 37 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 18 Financial Feasibility Analysis ►INPUT INFLATION RATE 2.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.49930000 60%0.2995800 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 60%0.1709484 Trophy CLUB MUD 1 0.13339000 60%0.0800340 2.37010400 0.5505624 PERSONAL PROPERTY TAX Trophy Club 0.49930000 0%0.0000000 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.37010400 0.0000000 SALES TAX RATE 0.0200000 12.50%0.0025000 Block C + H AREA Year SF/UNIT $/SF or $/Unit TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE Retail 2020 13,765 300.00$ 4,129,500$ 20.00$ 275,300$ 300.00$ 4,129,500$ Office 2018 160,000 300$ 48,000,000$ 10$ 1,600,000$ -$ -$ Hotel 2019 200 90,000$ 18,000,000$ -$ -$ 3,000.00$ 600,000$ TOTAL 70,129,500.00 1,875,300.00 4,729,500.00 ►OUTPUT TOTAL TAX REVENUE TOTAL REAL PROPERTY PERSONAL PROPERTY SALES Trophy Club 25.1%16,437,212$ =12,743,034$ +341,959$ +3,352,220$ Northwest ISD 58.1%38,065,195$ =37,070,411$ +994,784$ +-$ Denton County 11.4%7,466,648$ =7,271,517$ +195,131$ +-$ Trophy CLUB MUD 1 5.3%3,495,708 =3,404,353$ +91,356$ +-$ 1 6546476350.0%6048931453.6%162322937.3%335221959.1% 100.0%92.4%2.5%5.1% TOTAL PARTICIPATION TOTAL REAL PROPERTY PERSONAL PROPERTY SALES Trophy Club 55.7%8,064,848$ =7,645,820$ +-$ +419,027$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Denton County 30.2%4,362,910$ =4,362,910$ +-$ +-$ Trophy CLUB MUD 1 14.1%2,042,612$ =2,042,612$ +-$ +-$ 1 1447036957.8%1405134212.9%0.0%41902744.9% 100.0%97.1%0.0%2.9% NET BENEFIT TOTAL REAL PROPERTY PERSONAL PROPERTY SALES Trophy Club 16.4%8,372,365$ =5,097,213$ +341,959$ +2,933,192$ Northwest ISD 74.6%38,065,195$ =37,070,411$ +994,784$ +-$ Denton County 6.1%3,103,738$ =2,908,607$ +195,131$ +-$ Trophy CLUB MUD 1 2.8%1,453,097$ =1,361,741$ +91,356$ +-$ 1 5099439392.2%4643797240.7%162322937.3%293319214.2% 30 YEAR - BLOCK C + H : INPUT & OUTPUT PARTICIPATION PARTICIPATION REAL PROPERTY PERSONAL PROPERTY SALES Economic Development DAVID PETTIT TIRZ No. 2 Board Page 38 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 19 Financial Feasibility Analysis Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 % OCCUPIED 0%0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% REAL PROPERTY Taxable Value - - - 24,000,000 49,500,000 70,129,500 71,532,090 72,962,732 74,421,986 75,910,426 77,428,635 78,977,207 80,556,752 82,167,887 83,811,244 85,487,469 87,197,219 88,941,163 90,719,986 92,534,386 94,385,074 96,272,775 98,198,231 100,162,195 102,165,439 104,208,748 106,292,923 108,418,781 110,587,157 112,798,900 115,054,878 117,355,976 PV GROSS Trophy Club 4,776,017 - - - 119,832 247,154 350,157 357,160 364,303 371,589 379,021 386,601 394,333 402,220 410,264 418,470 426,839 435,376 444,083 452,965 462,024 471,265 480,690 490,304 500,110 510,112 520,314 530,721 541,335 552,162 563,205 574,469 585,958 12,743,034 Northwest ISD 13,893,780 - - - 348,600 718,988 1,018,631 1,039,004 1,059,784 1,080,979 1,102,599 1,124,651 1,147,144 1,170,087 1,193,489 1,217,358 1,241,705 1,266,540 1,291,870 1,317,708 1,344,062 1,370,943 1,398,362 1,426,329 1,454,856 1,483,953 1,513,632 1,543,905 1,574,783 1,606,278 1,638,404 1,671,172 1,704,596 37,070,411 D enton County 2,725,323 - - - 68,379 141,032 199,809 203,805 207,881 212,039 216,279 220,605 225,017 229,517 234,108 238,790 243,566 248,437 253,406 258,474 263,643 268,916 274,295 279,781 285,376 291,084 296,905 302,843 308,900 315,078 321,380 327,807 334,364 7,271,517 Trophy CLUB MUD 1 1,275,932 - - - 32,014 66,028 93,546 95,417 97,325 99,271 101,257 103,282 105,348 107,455 109,604 111,796 114,032 116,312 118,639 121,011 123,432 125,900 128,418 130,987 133,606 136,278 139,004 141,784 144,620 147,512 150,462 153,472 156,541 3,404,353 Total 21,387,785 - - - 568,825 1,173,201 1,662,142 1,695,385 1,729,293 1,763,878 1,799,156 1,835,139 1,871,842 1,909,279 1,947,464 1,986,414 2,026,142 2,066,665 2,107,998 2,150,158 2,193,161 2,237,024 2,281,765 2,327,400 2,373,948 2,421,427 2,469,856 2,519,253 2,569,638 2,621,031 2,673,451 2,726,920 2,781,459 60,489,315 % OCCUPIED 0%0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% PERSONAL PROPERTY Taxable Value - - - 800,000 1,406,475 1,875,300 1,912,806 1,951,062 1,990,083 2,029,885 2,070,483 2,111,892 2,154,130 2,197,213 2,241,157 2,285,980 2,331,700 2,378,334 2,425,901 2,474,419 2,523,907 2,574,385 2,625,873 2,678,390 2,731,958 2,786,597 2,842,329 2,899,176 2,957,159 3,016,302 3,076,628 3,138,161 PV GROSS Trophy Club 128,704 - - - 3,994 7,023 9,363 9,551 9,742 9,936 10,135 10,338 10,545 10,756 10,971 11,190 11,414 11,642 11,875 12,113 12,355 12,602 12,854 13,111 13,373 13,641 13,913 14,192 14,476 14,765 15,060 15,362 15,669 341,959 Northwest ISD 374,410 - - - 11,620 20,429 27,239 27,784 28,339 28,906 29,484 30,074 30,675 31,289 31,915 32,553 33,204 33,868 34,545 35,236 35,941 36,660 37,393 38,141 38,904 39,682 40,475 41,285 42,111 42,953 43,812 44,688 45,582 994,784 Denton County 73,442 - - - 2,279 4,007 5,343 5,450 5,559 5,670 5,783 5,899 6,017 6,137 6,260 6,385 6,513 6,643 6,776 6,912 7,050 7,191 7,335 7,481 7,631 7,784 7,939 8,098 8,260 8,425 8,594 8,766 8,941 195,131 Trophy CLUB MUD 1 34,384 - - - 1,067 1,876 2,501 2,551 2,603 2,655 2,708 2,762 2,817 2,873 2,931 2,989 3,049 3,110 3,172 3,236 3,301 3,367 3,434 3,503 3,573 3,644 3,717 3,791 3,867 3,945 4,023 4,104 4,186 91,356 Total 576,358 - - - 18,961 33,335 44,447 45,335 46,242 47,167 48,110 49,073 50,054 51,055 52,076 53,118 54,180 55,264 56,369 57,496 58,646 59,819 61,016 62,236 63,481 64,750 66,045 67,366 68,713 70,088 71,490 72,919 74,378 1,623,229 % OCCUPIED 0%0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% SALES TAX Taxable Value - - - - 450,000 4,729,500 4,824,090 4,920,572 5,018,983 5,119,363 5,221,750 5,326,185 5,432,709 5,541,363 5,652,190 5,765,234 5,880,539 5,998,150 6,118,113 6,240,475 6,365,284 6,492,590 6,622,442 6,754,891 6,889,988 7,027,788 7,168,344 7,311,711 7,457,945 7,607,104 7,759,246 7,914,431 PV GROSS Total 1,148,340 - - - - 9,000 94,590 96,482 98,411 100,380 102,387 104,435 106,524 108,654 110,827 113,044 115,305 117,611 119,963 122,362 124,809 127,306 129,852 132,449 135,098 137,800 140,556 143,367 146,234 149,159 152,142 155,185 158,289 3,352,220 SUMMARY PV GROSS Trop hy Club 6,121,961 - - - 123,826 263,176 454,110 463,192 472,456 481,905 491,543 501,374 511,402 521,630 532,062 542,703 553,558 564,629 575,921 587,440 599,188 611,172 623,396 635,864 648,581 661,552 674,784 688,279 702,045 716,086 730,407 745,016 759,916 16,437,212 Northwest ISD 14,268,189 - - - 360,220 739,417 1,045,870 1,066,787 1,088,123 1,109,885 1,132,083 1,154,725 1,177,819 1,201,376 1,225,403 1,249,911 1,274,909 1,300,408 1,326,416 1,352,944 1,380,003 1,407,603 1,435,755 1,464,470 1,493,760 1,523,635 1,554,107 1,585,190 1,616,893 1,649,231 1,682,216 1,715,860 1,750,177 38,065,195 Denton County 2,798,765 - - - 70,659 145,040 205,152 209,255 213,440 217,709 222,063 226,504 231,034 235,655 240,368 245,175 250,079 255,080 260,182 265,386 270,693 276,107 281,629 287,262 293,007 298,867 304,845 310,942 317,160 323,504 329,974 336,573 343,305 7,466,648 Trophy CLUB MUD 1 1,310,316 - - - 33,081 67,904 96,047 97,968 99,928 101,926 103,965 106,044 108,165 110,328 112,535 114,785 117,081 119,423 121,811 124,247 126,732 129,267 131,852 134,489 137,179 139,923 142,721 145,576 148,487 151,457 154,486 157,576 160,727 3,495,708 Total 23,112,483 - - - 587,786 1,215,536 1,801,179 1,837,202 1,873,946 1,911,425 1,949,654 1,988,647 2,028,420 2,068,988 2,110,368 2,152,575 2,195,627 2,239,539 2,284,330 2,330,017 2,376,617 2,424,149 2,472,632 2,522,085 2,572,527 2,623,977 2,676,457 2,729,986 2,784,586 2,840,277 2,897,083 2,955,024 3,014,125 65,464,764 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Economic Development DAVID PETTIT TIRZ No. 2 Board Page 39 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 20 PARTICIPATION REAL PROPERTY Taxable Value - - - 24,000,000 49,500,000 70,129,500 71,532,090 72,962,732 74,421,986 75,910,426 77,428,635 78,977,207 80,556,752 82,167,887 83,811,244 85,487,469 87,197,219 88,941,163 90,719,986 92,534,386 94,385,074 96,272,775 98,198,231 100,162,195 102,165,439 104,208,748 106,292,923 108,418,781 110,587,157 112,798,900 115,054,878 117,355,976 PV GROSS Trophy Club 2,865,610 - - - 71,899 148,292 210,094 214,296 218,582 222,953 227,412 231,961 236,600 241,332 246,159 251,082 256,103 261,225 266,450 271,779 277,215 282,759 288,414 294,182 300,066 306,067 312,189 318,432 324,801 331,297 337,923 344,681 351,575 7,645,820 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 1,635,194 - - - 41,028 84,619 119,885 122,283 124,729 127,223 129,768 132,363 135,010 137,710 140,465 143,274 146,139 149,062 152,043 155,084 158,186 161,350 164,577 167,868 171,226 174,650 178,143 181,706 185,340 189,047 192,828 196,684 200,618 4,362,910 Trophy CLUB MUD 1 765,559 - - - 19,208 39,617 56,127 57,250 58,395 59,563 60,754 61,969 63,209 64,473 65,762 67,077 68,419 69,787 71,183 72,607 74,059 75,540 77,051 78,592 80,164 81,767 83,402 85,070 86,772 88,507 90,277 92,083 93,925 2,042,612 Total 4,968,267 - - - 132,135 272,528 386,107 393,829 401,705 409,739 417,934 426,293 434,819 443,515 452,385 461,433 470,662 480,075 489,677 499,470 509,460 519,649 530,042 540,643 551,455 562,484 573,734 585,209 596,913 608,851 621,028 633,449 646,118 14,051,342 PERSONAL PROPERTY Taxable Value - - - 800,000 1,406,475 1,875,300 1,912,806 1,951,062 1,990,083 2,029,885 2,070,483 2,111,892 2,154,130 2,197,213 2,241,157 2,285,980 2,331,700 2,378,334 2,425,901 2,474,419 2,523,907 2,574,385 2,625,873 2,678,390 2,731,958 2,786,597 2,842,329 2,899,176 2,957,159 3,016,302 3,076,628 3,138,161 PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value - - - - 450,000 4,729,500 4,824,090 4,920,572 5,018,983 5,119,363 5,221,750 5,326,185 5,432,709 5,541,363 5,652,190 5,765,234 5,880,539 5,998,150 6,118,113 6,240,475 6,365,284 6,492,590 6,622,442 6,754,891 6,889,988 7,027,788 7,168,344 7,311,711 7,457,945 7,607,104 7,759,246 7,914,431 PV GROSS Total 143,543 - - - - 1,125 11,824 12,060 12,301 12,547 12,798 13,054 13,315 13,582 13,853 14,130 14,413 14,701 14,995 15,295 15,601 15,913 16,231 16,556 16,887 17,225 17,569 17,921 18,279 18,645 19,018 19,398 19,786 419,027 SUMMARY - PV GROSS Trophy Club 3,017,765 - - - 71,899 149,417 221,918 226,356 230,883 235,501 240,211 245,015 249,915 254,914 260,012 265,212 270,516 275,927 281,445 287,074 292,816 298,672 304,645 310,738 316,953 323,292 329,758 336,353 343,080 349,942 356,941 364,080 371,361 8,064,848 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 1,635,194 - - - 41,028 84,619 119,885 122,283 124,729 127,223 129,768 132,363 135,010 137,710 140,465 143,274 146,139 149,062 152,043 155,084 158,186 161,350 164,577 167,868 171,226 174,650 178,143 181,706 185,340 189,047 192,828 196,684 200,618 4,362,910 Trophy CLUB MUD 1 765,559 - - - 19,208 39,617 56,127 57,250 58,395 59,563 60,754 61,969 63,209 64,473 65,762 67,077 68,419 69,787 71,183 72,607 74,059 75,540 77,051 78,592 80,164 81,767 83,402 85,070 86,772 88,507 90,277 92,083 93,925 2,042,612 Total 5,111,810 - - - 132,135 273,653 397,930 405,889 414,007 422,287 430,733 439,347 448,134 457,097 466,239 475,564 485,075 494,776 504,672 514,765 525,061 535,562 546,273 557,199 568,343 579,709 591,304 603,130 615,192 627,496 640,046 652,847 665,904 14,470,370 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 3,104,196 - - - 51,927 113,759 232,192 236,836 241,573 246,404 251,332 256,359 261,486 266,716 272,050 277,491 283,041 288,702 294,476 300,365 306,373 312,500 318,750 325,125 331,628 338,260 345,025 351,926 358,965 366,144 373,467 380,936 388,555 8,372,365 Northwest ISD 14,268,189 - - - 360,220 739,417 1,045,870 1,066,787 1,088,123 1,109,885 1,132,083 1,154,725 1,177,819 1,201,376 1,225,403 1,249,911 1,274,909 1,300,408 1,326,416 1,352,944 1,380,003 1,407,603 1,435,755 1,464,470 1,493,760 1,523,635 1,554,107 1,585,190 1,616,893 1,649,231 1,682,216 1,715,860 1,750,177 38,065,195 Denton County 1,163,571 - - - 29,631 60,420 85,266 86,972 88,711 90,485 92,295 94,141 96,024 97,944 99,903 101,901 103,939 106,018 108,139 110,301 112,507 114,757 117,053 119,394 121,782 124,217 126,702 129,236 131,820 134,457 137,146 139,889 142,687 3,103,738 Trophy CLUB MUD 1 544,757 - - - 13,873 28,287 39,920 40,718 41,533 42,363 43,210 44,075 44,956 45,855 46,772 47,708 48,662 49,635 50,628 51,640 52,673 53,727 54,801 55,897 57,015 58,156 59,319 60,505 61,715 62,949 64,208 65,493 66,802 1,453,097 Total 18,000,673 - - - 455,651 941,883 1,403,248 1,431,313 1,459,939 1,489,138 1,518,921 1,549,299 1,580,285 1,611,891 1,644,129 1,677,012 1,710,552 1,744,763 1,779,658 1,815,251 1,851,556 1,888,587 1,926,359 1,964,886 2,004,184 2,044,268 2,085,153 2,126,856 2,169,393 2,212,781 2,257,037 2,302,177 2,348,221 50,994,394 Economic Development DAVID PETTIT TIRZ No. 2 Board Page 40 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 21 Financial Feasibility Analysis ►INPUT INFLATION RATE 2.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.49930000 60%0.2995800 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 60%0.1709484 Trophy CLUB MUD 1 0.13339000 60%0.0800340 2.37010400 0.5505624 PERSONAL PROPERTY TAX Trophy Club 0.49930000 0%0.0000000 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.37010400 0.0000000 Sales Tax Rate 0.0200000 12.50%0.0025000 Block D AREA Year SF/UNITS $ / SF TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE Retail 2019 17,054 300.00$ 5,116,200$ 20.00$ 341,080$ 300.00$ 5,116,200$ TOTAL 17,054 5,116,200 341,080 5,116,200 OUTPUT ► TOTAL TAX REVENUE TOTAL Trophy Club 55.9%4,524,779$ =892,061$ +59,471$ +3,573,247$ Northwest ISD 34.2%2,768,075$ =2,595,070$ +173,005$ +-$ Denton County 6.7%542,970$ =509,034$ +33,936$ +-$ Trophy CLUB MUD 1 3.1%254,206$ =238,318$ +15,888$ +-$ 100.0%8,090,029 4,234,483$ 282,299$ 3,573,247$ 100.0%52.3%3.5%44.2% TOTAL PARTICIPATION TOTAL Trophy Club 68.6%981,892$ =535,237$ +-$ +446,656$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Denton County 21.4%305,420$ =305,420$ +-$ +-$ Trophy CLUB MUD 1 10.0%142,991$ =142,991$ +-$ +-$ 100.0%1,430,303$ 983,648$ -$ 446,656$ 100.0%68.8%0.0%31.2% NET BENEFIT TOTAL Trophy Club 53.2%3,542,886$ =356,824$ +59,471$ +3,126,591$ Northwest ISD 41.6%2,768,075$ =2,595,070$ +173,005$ +-$ Denton County 3.6%237,549$ =203,614$ +33,936$ +-$ Trophy CLUB MUD 1 1.7%111,215$ =95,327$ +15,888$ +-$ 100.0%6,659,725$ 3,250,836$ 282,299$ 3,126,591$ 100.0%48.8%4.2%46.9% 30 YEAR - BLOCK D : INPUT & OUTPUT PARTICIPATION PARTICIPATION REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY REAL PROPERTY PERSONAL PROPERTY SALES PERSONAL PROPERTY SALES Economic Development DAVID PETTIT TIRZ No. 2 Board Page 41 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 22 Financial Feasibility Analysis Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 % OCCUPIED 0%0%0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% REAL PROPERTY Taxable Value - - - 2,558,100 3,837,150 5,116,200 5,218,524 5,322,894 5,429,352 5,537,939 5,648,698 5,761,672 5,876,906 5,994,444 6,114,333 6,236,619 6,361,352 6,488,579 6,618,350 6,750,717 6,885,732 7,023,446 7,163,915 7,307,193 7,453,337 7,602,404 7,754,452 7,909,541 8,067,732 8,229,087 8,393,668 PV GROSS Trophy Club 326,117 - - - - 12,773 19,159 25,545 26,056 26,577 27,109 27,651 28,204 28,768 29,343 29,930 30,529 31,139 31,762 32,397 33,045 33,706 34,380 35,068 35,769 36,485 37,215 37,959 38,718 39,492 40,282 41,088 41,910 892,061 Northwest ISD 948,697 - - - - 37,156 55,735 74,313 75,799 77,315 78,861 80,439 82,047 83,688 85,362 87,069 88,811 90,587 92,399 94,247 96,132 98,054 100,015 102,016 104,056 106,137 108,260 110,425 112,633 114,886 117,184 119,527 121,918 2,595,070 Denton County 186,091 - - - - 7,288 10,933 14,577 14,868 15,166 15,469 15,778 16,094 16,416 16,744 17,079 17,421 17,769 18,124 18,487 18,857 19,234 19,618 20,011 20,411 20,819 21,236 21,660 22,094 22,535 22,986 23,446 23,915 509,034 Trophy CLUB MUD 1 87,123 - - - - 3,412 5,118 6,824 6,961 7,100 7,242 7,387 7,535 7,685 7,839 7,996 8,156 8,319 8,485 8,655 8,828 9,005 9,185 9,369 9,556 9,747 9,942 10,141 10,344 10,551 10,762 10,977 11,196 238,318 Total 1,548,028 - - - - 60,630 90,944 121,259 123,684 126,158 128,681 131,255 133,880 136,558 139,289 142,075 144,916 147,814 150,771 153,786 156,862 159,999 163,199 166,463 169,792 173,188 176,652 180,185 183,789 187,464 191,214 195,038 198,939 4,234,483 % OCCUPIED 0%0%0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% PERSONAL PROPERTY Taxable Value - - - - 170,540 255,810 341,080 347,902 354,860 361,957 369,196 376,580 384,111 391,794 399,630 407,622 415,775 424,090 432,572 441,223 450,048 459,049 468,230 477,594 487,146 496,889 506,827 516,963 527,303 537,849 548,606 559,578 PV GROSS Trophy Club 21,741 - - - - 852 1,277 1,703 1,737 1,772 1,807 1,843 1,880 1,918 1,956 1,995 2,035 2,076 2,117 2,160 2,203 2,247 2,292 2,338 2,385 2,432 2,481 2,531 2,581 2,633 2,685 2,739 2,794 59,471 Northwest ISD 63,246 - - - - 2,477 3,716 4,954 5,053 5,154 5,257 5,363 5,470 5,579 5,691 5,805 5,921 6,039 6,160 6,283 6,409 6,537 6,668 6,801 6,937 7,076 7,217 7,362 7,509 7,659 7,812 7,968 8,128 173,005 Denton County 12,406 - - - - 486 729 972 991 1,011 1,031 1,052 1,073 1,094 1,116 1,139 1,161 1,185 1,208 1,232 1,257 1,282 1,308 1,334 1,361 1,388 1,416 1,444 1,473 1,502 1,532 1,563 1,594 33,936 Trophy CLUB MUD 1 5,808 - - - - 227 341 455 464 473 483 492 502 512 523 533 544 555 566 577 589 600 612 625 637 650 663 676 690 703 717 732 746 15,888 Total 103,202 - - - - 4,042 6,063 8,084 8,246 8,411 8,579 8,750 8,925 9,104 9,286 9,472 9,661 9,854 10,051 10,252 10,457 10,667 10,880 11,098 11,319 11,546 11,777 12,012 12,253 12,498 12,748 13,003 13,263 282,299 % OCCUPIED 0%0%0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% SALES TAX Taxable Value - - - - 2,558,100 3,837,150 5,116,200 5,218,524 5,322,894 5,429,352 5,537,939 5,648,698 5,761,672 5,876,906 5,994,444 6,114,333 6,236,619 6,361,352 6,488,579 6,618,350 6,750,717 6,885,732 7,023,446 7,163,915 7,307,193 7,453,337 7,602,404 7,754,452 7,909,541 8,067,732 8,229,087 8,393,668 PV GROSS Total 1,306,296 - - - - 51,162 76,743 102,324 104,370 106,458 108,587 110,759 112,974 115,233 117,538 119,889 122,287 124,732 127,227 129,772 132,367 135,014 137,715 140,469 143,278 146,144 149,067 152,048 155,089 158,191 161,355 164,582 167,873 3,573,247 SUMMARY PV GROSS Trophy Club 1,654,154 - - - - 64,786 97,179 129,572 132,164 134,807 137,503 140,253 143,058 145,919 148,838 151,814 154,851 157,948 161,107 164,329 167,615 170,968 174,387 177,875 181,432 185,061 188,762 192,537 196,388 200,316 204,322 208,409 212,577 4,524,779 Northwest ISD 1,011,944 - - - - 39,633 59,450 79,267 80,852 82,469 84,119 85,801 87,517 89,268 91,053 92,874 94,731 96,626 98,559 100,530 102,540 104,591 106,683 108,817 110,993 113,213 115,477 117,787 120,142 122,545 124,996 127,496 130,046 2,768,075 Denton County 198,497 - - - - 7,774 11,661 15,549 15,860 16,177 16,500 16,830 17,167 17,510 17,860 18,218 18,582 18,954 19,333 19,719 20,114 20,516 20,926 21,345 21,772 22,207 22,651 23,104 23,566 24,038 24,519 25,009 25,509 542,970 Trophy CLUB MUD 1 92,932 - - - - 3,640 5,460 7,279 7,425 7,574 7,725 7,880 8,037 8,198 8,362 8,529 8,700 8,874 9,051 9,232 9,417 9,605 9,797 9,993 10,193 10,397 10,605 10,817 11,033 11,254 11,479 11,709 11,943 254,206 Total 2,957,526 - - - - 115,834 173,750 231,667 236,301 241,027 245,847 250,764 255,779 260,895 266,113 271,435 276,864 282,401 288,049 293,810 299,686 305,680 311,794 318,029 324,390 330,878 337,495 344,245 351,130 358,153 365,316 372,622 380,075 8,090,029 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Economic Development DAVID PETTIT TIRZ No. 2 Board Page 42 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 23 PARTICIPATION REAL PROPERTY Taxable Value - - - - 2,558,100 3,837,150 5,116,200 5,218,524 5,322,894 5,429,352 5,537,939 5,648,698 5,761,672 5,876,906 5,994,444 6,114,333 6,236,619 6,361,352 6,488,579 6,618,350 6,750,717 6,885,732 7,023,446 7,163,915 7,307,193 7,453,337 7,602,404 7,754,452 7,909,541 8,067,732 8,229,087 8,393,668 PV GROSS Trophy Club 195,670 - - - - 7,664 11,495 15,327 15,634 15,946 16,265 16,591 16,922 17,261 17,606 17,958 18,317 18,684 19,057 19,438 19,827 20,224 20,628 21,041 21,462 21,891 22,329 22,775 23,231 23,695 24,169 24,653 25,146 535,237 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 111,655 - - - - 4,373 6,560 8,746 8,921 9,099 9,281 9,467 9,656 9,849 10,046 10,247 10,452 10,661 10,875 11,092 11,314 11,540 11,771 12,006 12,247 12,492 12,741 12,996 13,256 13,521 13,792 14,067 14,349 305,420 Trophy CLUB MUD 1 52,274 - - - - 2,047 3,071 4,095 4,177 4,260 4,345 4,432 4,521 4,611 4,704 4,798 4,894 4,991 5,091 5,193 5,297 5,403 5,511 5,621 5,734 5,848 5,965 6,085 6,206 6,330 6,457 6,586 6,718 142,991 Total 359,599 - - - - 14,084 21,126 28,168 28,731 29,306 29,892 30,490 31,100 31,722 32,356 33,003 33,663 34,336 35,023 35,724 36,438 37,167 37,910 38,668 39,442 40,231 41,035 41,856 42,693 43,547 44,418 45,306 46,212 983,648 PERSONAL PROPERTY Taxable Value - - - - 170,540 255,810 341,080 347,902 354,860 361,957 369,196 376,580 384,111 391,794 399,630 407,622 415,775 424,090 432,572 441,223 450,048 459,049 468,230 477,594 487,146 496,889 506,827 516,963 527,303 537,849 548,606 559,578 PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value - - - - 2,558,100 3,837,150 5,116,200 5,218,524 5,322,894 5,429,352 5,537,939 5,648,698 5,761,672 5,876,906 5,994,444 6,114,333 6,236,619 6,361,352 6,488,579 6,618,350 6,750,717 6,885,732 7,023,446 7,163,915 7,307,193 7,453,337 7,602,404 7,754,452 7,909,541 8,067,732 8,229,087 8,393,668 PV GROSS Total 163,287 - - - - 6,395 9,593 12,791 13,046 13,307 13,573 13,845 14,122 14,404 14,692 14,986 15,286 15,592 15,903 16,221 16,546 16,877 17,214 17,559 17,910 18,268 18,633 19,006 19,386 19,774 20,169 20,573 20,984 446,656 SUMMARY PV GROSS Trophy Club 358,957 - - - - 14,059 21,088 28,118 28,680 29,254 29,839 30,435 31,044 31,665 32,298 32,944 33,603 34,275 34,961 35,660 36,373 37,101 37,843 38,599 39,371 40,159 40,962 41,781 42,617 43,469 44,339 45,225 46,130 981,892 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 111,655 - - - - 4,373 6,560 8,746 8,921 9,099 9,281 9,467 9,656 9,849 10,046 10,247 10,452 10,661 10,875 11,092 11,314 11,540 11,771 12,006 12,247 12,492 12,741 12,996 13,256 13,521 13,792 14,067 14,349 305,420 Trophy CLUB MUD 1 52,274 - - - - 2,047 3,071 4,095 4,177 4,260 4,345 4,432 4,521 4,611 4,704 4,798 4,894 4,991 5,091 5,193 5,297 5,403 5,511 5,621 5,734 5,848 5,965 6,085 6,206 6,330 6,457 6,586 6,718 142,991 Total 522,886 - - - - 20,479 30,719 40,958 41,778 42,613 43,465 44,335 45,221 46,126 47,048 47,989 48,949 49,928 50,927 51,945 52,984 54,044 55,125 56,227 57,352 58,499 59,669 60,862 62,079 63,321 64,587 65,879 67,197 1,430,303 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 1,295,197 - - - - 50,727 76,091 101,455 103,484 105,553 107,664 109,818 112,014 114,254 116,539 118,870 121,248 123,673 126,146 128,669 131,242 133,867 136,545 139,275 142,061 144,902 147,800 150,756 153,771 156,847 159,984 163,183 166,447 3,542,886 Northwest ISD 1,011,944 - - - - 39,633 59,450 79,267 80,852 82,469 84,119 85,801 87,517 89,268 91,053 92,874 94,731 96,626 98,559 100,530 102,540 104,591 106,683 108,817 110,993 113,213 115,477 117,787 120,142 122,545 124,996 127,496 130,046 2,768,075 Denton County 86,842 - - - - 3,401 5,102 6,802 6,939 7,077 7,219 7,363 7,511 7,661 7,814 7,970 8,130 8,292 8,458 8,627 8,800 8,976 9,155 9,338 9,525 9,716 9,910 10,108 10,310 10,517 10,727 10,941 11,160 237,549 Trophy CLUB MUD 1 40,658 - - - - 1,592 2,389 3,185 3,248 3,313 3,380 3,447 3,516 3,587 3,658 3,731 3,806 3,882 3,960 4,039 4,120 4,202 4,286 4,372 4,459 4,549 4,640 4,732 4,827 4,924 5,022 5,122 5,225 111,215 Total 2,434,640 - - - - 95,354 143,032 190,709 194,523 198,413 202,382 206,429 210,558 214,769 219,065 223,446 227,915 232,473 237,122 241,865 246,702 251,636 256,669 261,802 267,038 272,379 277,827 283,383 289,051 294,832 300,729 306,743 312,878 6,659,725 Economic Development DAVID PETTIT TIRZ No. 2 Board Page 43 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 24 Financial Feasibility Analysis ►INPUT INFLATION RATE 2.00% DISCOUNT RATE 6.00% REAL PROPERTY TAX Trophy Club 0.49930000 60%0.2995800 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 60%0.1709484 Trophy CLUB MUD 1 0.13339000 60%0.0800340 2.37010400 0.5505624 PERSONAL PROPERTY TAX Trophy Club 0.49930000 0%0.0000000 Northwest ISD 1.45250000 0%0.0000000 Denton County 0.28491400 0%0.0000000 Trophy CLUB MUD 1 0.13339000 0%0.0000000 2.37010400 0.0000000 Sales Tax Rate 0.0200000 12.50%0.0025000 Block E & F AREA Year SF/UNITS $ / SF TAX VALUE $ / SF TAX VALUE $ / SF TAX VALUE Retail 2019 23,700 300.00$ 7,110,000$ 20.00$ 474,000$ 300.00$ 7,110,000$ Office 2019 12,000 200.00$ 2,400,000$ 10.00$ 120,000$ TOTAL 35,700 9,510,000 594,000 7,110,000 ►OUTPUT TOTAL TAX REVENUE TOTAL Trophy Club 50.5%6,727,487$ =1,658,164$ +103,570$ +4,965,753$ Northwest ISD 38.5%5,125,013$ =4,823,721$ +301,292$ +-$ Denton County 7.5%1,005,293$ =946,193$ +59,100$ +-$ Trophy CLUB MUD 1 3.5%470,654$ =442,985$ +27,669$ +-$ 100.0%13,328,447 7,871,064$ 491,631$ 4,965,753$ 100.0%59.1%3.7%37.3% TOTAL PARTICIPATION TOTAL Trophy Club 66.0%1,615,618$ =994,899$ +-$ +620,719$ Northwest ISD 0.0%-$ =-$ +-$ +-$ Denton County 23.2%567,716$ =567,716$ +-$ +-$ Trophy CLUB MUD 1 10.9%265,791$ =265,791$ +-$ +-$ 100.0%2,449,125$ 1,828,406$ -$ 620,719$ 100.0%74.7%0.0%25.3% NET BENEFIT TOTAL Trophy Club 47.0%5,111,869$ =663,266$ +103,570$ +4,345,034$ Northwest ISD 47.1%5,125,013$ =4,823,721$ +301,292$ +-$ Denton County 4.0%437,577$ =378,477$ +59,100$ +-$ Trophy CLUB MUD 1 1.9%204,863$ =177,194$ +27,669$ +-$ 100.0%10,879,323$ 6,042,658$ 491,631$ 4,345,034$ 100.0%55.5%4.5%39.9% REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY SALES REAL PROPERTY PERSONAL PROPERTY SALES 30 YEAR - BLOCK E : INPUT & OUTPUT PARTICIPATION PARTICIPATION REAL PROPERTY PERSONAL PROPERTY SALES Economic Development DAVID PETTIT TIRZ No. 2 Board Page 44 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 25 Financial Feasibility Analysis Calendar Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 TOTAL TAX REVENUE 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 % OCCUPIED 0%0%0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% REAL PROPERTY Taxable Value - - - 4,755,000 7,132,500 9,510,000 9,700,200 9,894,204 10,092,088 10,293,930 10,499,808 10,709,805 10,924,001 11,142,481 11,365,330 11,592,637 11,824,490 12,060,979 12,302,199 12,548,243 12,799,208 13,055,192 13,316,296 13,582,622 13,854,274 14,131,360 14,413,987 14,702,267 14,996,312 15,296,238 15,602,163 PV GROSS Trophy Club 606,186 - - - - 23,742 35,613 47,483 48,433 49,402 50,390 51,398 52,426 53,474 54,544 55,634 56,747 57,882 59,040 60,220 61,425 62,653 63,906 65,185 66,488 67,818 69,174 70,558 71,969 73,408 74,877 76,374 77,902 1,658,164 Northwest ISD 1,763,440 - - - - 69,066 103,600 138,133 140,895 143,713 146,588 149,519 152,510 155,560 158,671 161,845 165,081 168,383 171,751 175,186 178,689 182,263 185,908 189,627 193,419 197,288 201,233 205,258 209,363 213,550 217,821 222,178 226,621 4,823,721 Denton C ounty 345,906 - - - - 13,548 20,321 27,095 27,637 28,190 28,754 29,329 29,915 30,514 31,124 31,746 32,381 33,029 33,690 34,363 35,051 35,752 36,467 37,196 37,940 38,699 39,473 40,262 41,067 41,889 42,727 43,581 44,453 946,193 Trophy CLUB MUD 1 161,945 - - - - 6,343 9,514 12,685 12,939 13,198 13,462 13,731 14,006 14,286 14,572 14,863 15,160 15,463 15,773 16,088 16,410 16,738 17,073 17,414 17,763 18,118 18,480 18,850 19,227 19,611 20,004 20,404 20,812 442,985 Total 2,877,477 - - - - 112,698 169,048 225,397 229,905 234,503 239,193 243,977 248,856 253,834 258,910 264,088 269,370 274,758 280,253 285,858 291,575 297,406 303,355 309,422 315,610 321,922 328,361 334,928 341,626 348,459 355,428 362,537 369,787 7,871,064 % OCCUPIED 0%0%0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% PERSONAL PROPERTY Taxable Value - - - - 297,000 445,500 594,000 605,880 617,998 630,358 642,965 655,824 668,940 682,319 695,966 709,885 724,083 738,564 753,336 768,402 783,770 799,446 815,435 831,743 848,378 865,346 882,653 900,306 918,312 936,678 955,412 974,520 PV GROSS Trophy Club 37,863 - - - - 1,483 2,224 2,966 3,025 3,086 3,147 3,210 3,275 3,340 3,407 3,475 3,544 3,615 3,688 3,761 3,837 3,913 3,992 4,071 4,153 4,236 4,321 4,407 4,495 4,585 4,677 4,770 4,866 103,570 Northwest ISD 110,145 - - - - 4,314 6,471 8,628 8,800 8,976 9,156 9,339 9,526 9,716 9,911 10,109 10,311 10,517 10,728 10,942 11,161 11,384 11,612 11,844 12,081 12,323 12,569 12,821 13,077 13,338 13,605 13,877 14,155 301,292 Denton County 21,605 - - - - 846 1,269 1,692 1,726 1,761 1,796 1,832 1,869 1,906 1,944 1,983 2,023 2,063 2,104 2,146 2,189 2,233 2,278 2,323 2,370 2,417 2,465 2,515 2,565 2,616 2,669 2,722 2,777 59,100 Trophy CLUB MUD 1 10,115 - - - - 396 594 792 808 824 841 858 875 892 910 928 947 966 985 1,005 1,025 1,045 1,066 1,088 1,109 1,132 1,154 1,177 1,201 1,225 1,249 1,274 1,300 27,669 Total 179,729 - - - - 7,039 10,559 14,078 14,360 14,647 14,940 15,239 15,544 15,855 16,172 16,495 16,825 17,162 17,505 17,855 18,212 18,576 18,948 19,327 19,713 20,107 20,510 20,920 21,338 21,765 22,200 22,644 23,097 491,631 % OCCUPIED 0%0%0%0%50%75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% SALES TAX Taxable Value - - - - 3,555,000 5,332,500 7,110,000 7,252,200 7,397,244 7,545,189 7,696,093 7,850,015 8,007,015 8,167,155 8,330,498 8,497,108 8,667,050 8,840,391 9,017,199 9,197,543 9,381,494 9,569,124 9,760,506 9,955,716 10,154,831 10,357,927 10,565,086 10,776,388 10,991,915 11,211,754 11,435,989 11,664,709 PV GROSS Total 1,815,363 - - - - 71,100 106,650 142,200 145,044 147,945 150,904 153,922 157,000 160,140 163,343 166,610 169,942 173,341 176,808 180,344 183,951 187,630 191,382 195,210 199,114 203,097 207,159 211,302 215,528 219,838 224,235 228,720 233,294 4,965,753 SUMMARY PV GROSS Trophy Club 2,459,412 - - - - 96,325 144,487 192,649 196,502 200,432 204,441 208,530 212,700 216,954 221,293 225,719 230,234 234,838 239,535 244,326 249,212 254,197 259,281 264,466 269,755 275,151 280,654 286,267 291,992 297,832 303,788 309,864 316,062 6,727,487 Northwest ISD 1,873,585 - - - - 73,380 110,070 146,761 149,696 152,690 155,744 158,858 162,036 165,276 168,582 171,953 175,393 178,900 182,478 186,128 189,850 193,647 197,520 201,471 205,500 209,610 213,802 218,079 222,440 226,889 231,427 236,055 240,776 5,125,013 Denton County 367,512 - - - - 14,394 21,591 28,788 29,363 29,951 30,550 31,161 31,784 32,420 33,068 33,729 34,404 35,092 35,794 36,510 37,240 37,985 38,744 39,519 40,310 41,116 41,938 42,777 43,633 44,505 45,395 46,303 47,229 1,005,293 Trophy CLUB MUD 1 172,060 - - - - 6,739 10,108 13,478 13,747 14,022 14,303 14,589 14,880 15,178 15,482 15,791 16,107 16,429 16,758 17,093 17,435 17,784 18,139 18,502 18,872 19,250 19,635 20,027 20,428 20,836 21,253 21,678 22,112 470,654 Total 4,872,570 - - - - 190,838 286,256 381,675 389,309 397,095 405,037 413,138 421,400 429,828 438,425 447,193 456,137 465,260 474,565 484,057 493,738 503,612 513,685 523,958 534,438 545,126 556,029 567,149 578,492 590,062 601,864 613,901 626,179 13,328,447 T A X R E V E N U E P R O J E C T I O N S & C O S T - B E N E F I T A N A L Y S I S Economic Development DAVID PETTIT TIRZ No. 2 Board Page 45 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 26 PARTICIPATION REAL PROPERTY Taxable Value - - - - 4,755,000 7,132,500 9,510,000 9,700,200 9,894,204 10,092,088 10,293,930 10,499,808 10,709,805 10,924,001 11,142,481 11,365,330 11,592,637 11,824,490 12,060,979 12,302,199 12,548,243 12,799,208 13,055,192 13,316,296 13,582,622 13,854,274 14,131,360 14,413,987 14,702,267 14,996,312 15,296,238 15,602,163 PV GROSS Trophy Club 363,712 - - - - 14,245 21,368 28,490 29,060 29,641 30,234 30,839 31,455 32,084 32,726 33,381 34,048 34,729 35,424 36,132 36,855 37,592 38,344 39,111 39,893 40,691 41,505 42,335 43,181 44,045 44,926 45,824 46,741 994,899 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 207,544 - - - - 8,129 12,193 16,257 16,582 16,914 17,252 17,597 17,949 18,308 18,674 19,048 19,429 19,817 20,214 20,618 21,030 21,451 21,880 22,318 22,764 23,219 23,684 24,157 24,640 25,133 25,636 26,149 26,672 567,716 Trophy CLUB MUD 1 97,167 - - - - 3,806 5,708 7,611 7,763 7,919 8,077 8,239 8,403 8,571 8,743 8,918 9,096 9,278 9,464 9,653 9,846 10,043 10,244 10,449 10,658 10,871 11,088 11,310 11,536 11,767 12,002 12,242 12,487 265,791 Total 668,423 - - - - 26,179 39,269 52,358 53,406 54,474 55,563 56,675 57,808 58,964 60,143 61,346 62,573 63,825 65,101 66,403 67,731 69,086 70,468 71,877 73,315 74,781 76,276 77,802 79,358 80,945 82,564 84,215 85,900 1,828,406 PERSONAL PROPERTY Taxable Value - - - - 297,000 445,500 594,000 605,880 617,998 630,358 642,965 655,824 668,940 682,319 695,966 709,885 724,083 738,564 753,336 768,402 783,770 799,446 815,435 831,743 848,378 865,346 882,653 900,306 918,312 936,678 955,412 974,520 PV GROSS Trophy Club - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Trophy CLUB MUD 1 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Total - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - SALES TAX Taxable Value - - - - 3,555,000 5,332,500 7,110,000 7,252,200 7,397,244 7,545,189 7,696,093 7,850,015 8,007,015 8,167,155 8,330,498 8,497,108 8,667,050 8,840,391 9,017,199 9,197,543 9,381,494 9,569,124 9,760,506 9,955,716 10,154,831 10,357,927 10,565,086 10,776,388 10,991,915 11,211,754 11,435,989 11,664,709 PV GROSS Total 226,920 - - - - 8,888 13,331 17,775 18,131 18,493 18,863 19,240 19,625 20,018 20,418 20,826 21,243 21,668 22,101 22,543 22,994 23,454 23,923 24,401 24,889 25,387 25,895 26,413 26,941 27,480 28,029 28,590 29,162 620,719 SUMMARY PV GROSS Trophy Club 590,632 - - - - 23,133 34,699 46,265 47,190 48,134 49,097 50,079 51,080 52,102 53,144 54,207 55,291 56,397 57,525 58,675 59,849 61,046 62,267 63,512 64,782 66,078 67,399 68,747 70,122 71,525 72,955 74,414 75,903 1,615,618 Northwest ISD - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Denton County 207,544 - - - - 8,129 12,193 16,257 16,582 16,914 17,252 17,597 17,949 18,308 18,674 19,048 19,429 19,817 20,214 20,618 21,030 21,451 21,880 22,318 22,764 23,219 23,684 24,157 24,640 25,133 25,636 26,149 26,672 567,716 Trophy CLUB MUD 1 97,167 - - - - 3,806 5,708 7,611 7,763 7,919 8,077 8,239 8,403 8,571 8,743 8,918 9,096 9,278 9,464 9,653 9,846 10,043 10,244 10,449 10,658 10,871 11,088 11,310 11,536 11,767 12,002 12,242 12,487 265,791 Total 895,343 - - - - 35,067 52,600 70,133 71,536 72,967 74,426 75,915 77,433 78,982 80,561 82,173 83,816 85,492 87,202 88,946 90,725 92,540 94,390 96,278 98,204 100,168 102,171 104,215 106,299 108,425 110,593 112,805 115,061 2,449,125 TOTAL TAX REVENUE - PARTICIPATION = NET BENEFIT SUMMARY PV GROSS Trophy Club 1,868,780 - - - - 73,192 109,788 146,384 149,312 152,298 155,344 158,451 161,620 164,852 168,149 171,512 174,943 178,442 182,010 185,651 189,364 193,151 197,014 200,954 204,973 209,073 213,254 217,519 221,870 226,307 230,833 235,450 240,159 5,111,869 Northwest ISD 1,873,585 - - - - 73,380 110,070 146,761 149,696 152,690 155,744 158,858 162,036 165,276 168,582 171,953 175,393 178,900 182,478 186,128 189,850 193,647 197,520 201,471 205,500 209,610 213,802 218,079 222,440 226,889 231,427 236,055 240,776 5,125,013 Denton County 159,968 - - - - 6,265 9,398 12,531 12,781 13,037 13,297 13,563 13,835 14,111 14,394 14,681 14,975 15,275 15,580 15,892 16,210 16,534 16,864 17,202 17,546 17,897 18,255 18,620 18,992 19,372 19,759 20,155 20,558 437,577 Trophy CLUB MUD 1 74,893 - - - - 2,933 4,400 5,866 5,984 6,103 6,226 6,350 6,477 6,607 6,739 6,874 7,011 7,151 7,294 7,440 7,589 7,741 7,896 8,053 8,215 8,379 8,546 8,717 8,892 9,069 9,251 9,436 9,625 204,863 Total 3,977,227 - - - - 155,771 233,656 311,542 317,773 324,128 330,611 337,223 343,967 350,847 357,864 365,021 372,321 379,768 387,363 395,110 403,013 411,073 419,294 427,680 436,234 444,958 453,858 462,935 472,193 481,637 491,270 501,095 511,117 10,879,323 Economic Development DAVID PETTIT TIRZ No. 2 Board Page 46 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 27 Financial Feasibility Analysis TAXABLE BASE YEAR GROWTH 2% DISCOUNT RATE 6% Trophy Club 0.4993000 100% 0.4993000 Trophy Club 0.4993000 100% 0.4993000 Northwest ISD 1.4525000 100% 1.4525000 Northwest ISD 1.4525000 100% 1.4525000 Denton County 0.2849140 100% 0.2849140 Denton County 0.2849140 100% 0.2849140 Trophy CLUB MUD 1 0.1333900 100% 0.1333900 Trophy CLUB MUD 1 0.1333900 100% 0.1333900 2.3701040 2.3701040 2.3701040 2.3701040 BASE YEAR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 FY ENDING SEPTEMBER 30TH 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 TOTALS BASE YEAR Trophy Club 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 Northwest ISD 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 Denton County 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 Trophy CLUB MUD 1 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 5,589,082 TAXABLE VALUE Trophy Club 5,700,864 5,814,881 5,931,179 6,049,802 6,170,798 6,294,214 6,420,098 6,548,500 6,679,470 6,813,060 6,949,321 7,088,307 7,230,074 7,374,675 7,522,169 7,672,612 7,826,064 7,982,585 8,142,237 8,305,082 8,471,183 8,640,607 8,813,419 8,989,688 9,169,481 9,352,871 9,539,928 9,730,727 9,925,342 10,123,848 10,326,325 10,532,852 Northwest ISD 5,700,864 5,814,881 5,931,179 6,049,802 6,170,798 6,294,214 6,420,098 6,548,500 6,679,470 6,813,060 6,949,321 7,088,307 7,230,074 7,374,675 7,522,169 7,672,612 7,826,064 7,982,585 8,142,237 8,305,082 8,471,183 8,640,607 8,813,419 8,989,688 9,169,481 9,352,871 9,539,928 9,730,727 9,925,342 10,123,848 10,326,325 10,532,852 Denton County 5,700,864 5,814,881 5,931,179 6,049,802 6,170,798 6,294,214 6,420,098 6,548,500 6,679,470 6,813,060 6,949,321 7,088,307 7,230,074 7,374,675 7,522,169 7,672,612 7,826,064 7,982,585 8,142,237 8,305,082 8,471,183 8,640,607 8,813,419 8,989,688 9,169,481 9,352,871 9,539,928 9,730,727 9,925,342 10,123,848 10,326,325 10,532,852 Trophy CLUB MUD 1 5,700,864 5,814,881 5,931,179 6,049,802 6,170,798 6,294,214 6,420,098 6,548,500 6,679,470 6,813,060 6,949,321 7,088,307 7,230,074 7,374,675 7,522,169 7,672,612 7,826,064 7,982,585 8,142,237 8,305,082 8,471,183 8,640,607 8,813,419 8,989,688 9,169,481 9,352,871 9,539,928 9,730,727 9,925,342 10,123,848 10,326,325 10,532,852 TAXABLE VALUE INCREMENT Trophy Club 111,782 225,799 342,097 460,720 581,716 705,132 831,016 959,418 1,090,388 1,223,978 1,360,239 1,499,225 1,640,992 1,785,593 1,933,087 2,083,530 2,236,982 2,393,503 2,553,155 2,716,000 2,882,101 3,051,525 3,224,337 3,400,606 3,580,399 3,763,789 3,950,846 4,141,645 4,336,260 4,534,766 4,737,243 4,943,770 Northwest ISD 111,782 225,799 342,097 460,720 581,716 705,132 831,016 959,418 1,090,388 1,223,978 1,360,239 1,499,225 1,640,992 1,785,593 1,933,087 2,083,530 2,236,982 2,393,503 2,553,155 2,716,000 2,882,101 3,051,525 3,224,337 3,400,606 3,580,399 3,763,789 3,950,846 4,141,645 4,336,260 4,534,766 4,737,243 4,943,770 Denton County 111,782 225,799 342,097 460,720 581,716 705,132 831,016 959,418 1,090,388 1,223,978 1,360,239 1,499,225 1,640,992 1,785,593 1,933,087 2,083,530 2,236,982 2,393,503 2,553,155 2,716,000 2,882,101 3,051,525 3,224,337 3,400,606 3,580,399 3,763,789 3,950,846 4,141,645 4,336,260 4,534,766 4,737,243 4,943,770 Trophy CLUB MUD 1 111,782 225,799 342,097 460,720 581,716 705,132 831,016 959,418 1,090,388 1,223,978 1,360,239 1,499,225 1,640,992 1,785,593 1,933,087 2,083,530 2,236,982 2,393,503 2,553,155 2,716,000 2,882,101 3,051,525 3,224,337 3,400,606 3,580,399 3,763,789 3,950,846 4,141,645 4,336,260 4,534,766 4,737,243 4,943,770 REVENUE A TAXABLE VALUE GROWTH Trophy Club 558 1,127 1,708 2,300 2,905 3,521 4,149 4,790 5,444 6,111 6,792 7,486 8,193 8,915 9,652 10,403 11,169 11,951 12,748 13,561 14,390 15,236 16,099 16,979 17,877 18,793 19,727 20,679 21,651 22,642 23,653 24,684 365,895 Trophy Club Northwest ISD 1,624 3,280 4,969 6,692 8,449 10,242 12,071 13,936 15,838 17,778 19,757 21,776 23,835 25,936 28,078 30,263 32,492 34,766 37,085 39,450 41,863 44,323 46,833 49,394 52,005 54,669 57,386 60,157 62,984 65,867 68,808 71,808 1,064,416 Northwest ISD Denton County 318 643 975 1,313 1,657 2,009 2,368 2,734 3,107 3,487 3,876 4,272 4,675 5,087 5,508 5,936 6,373 6,819 7,274 7,738 8,212 8,694 9,187 9,689 10,201 10,724 11,257 11,800 12,355 12,920 13,497 14,085 208,790 Denton County Trophy CLUB MUD 1 149 301 456 615 776 941 1,108 1,280 1,454 1,633 1,814 2,000 2,189 2,382 2,579 2,779 2,984 3,193 3,406 3,623 3,844 4,070 4,301 4,536 4,776 5,021 5,270 5,525 5,784 6,049 6,319 6,594 97,750 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL A 525,809 2,649 5,352 8,108 10,920 13,787 16,712 19,696 22,739 25,843 29,010 32,239 35,533 38,893 42,320 45,816 49,382 53,019 56,729 60,512 64,372 68,309 72,324 76,420 80,598 84,859 89,206 93,639 98,161 102,774 107,479 112,278 117,172 1,736,851 REVENUE #1 - BLOCK A REAL PROPERTY TAX 0 0 5,745,000 11,490,000 11,719,800 11,954,196 12,193,280 12,437,146 12,685,888 12,939,606 13,198,398 13,462,366 13,731,614 14,006,246 14,286,371 14,572,098 14,863,540 15,160,811 15,464,027 15,773,308 16,088,774 16,410,549 16,738,760 17,073,536 17,415,006 17,763,306 18,118,573 18,480,944 18,850,563 19,227,574 19,612,126 20,004,368 BUSINESS PERSONAL PROPERTY 0 0 383,000 766,000 781,320 796,946 812,885 829,143 845,726 862,640 879,893 897,491 915,441 933,750 952,425 971,473 990,903 1,010,721 1,030,935 1,051,554 1,072,585 1,094,037 1,115,917 1,138,236 1,161,000 1,184,220 1,207,905 1,232,063 1,256,704 1,281,838 1,307,475 1,333,625 Trophy Club 0 0 30,597 61,194 62,418 63,666 64,940 66,239 67,563 68,915 70,293 71,699 73,133 74,595 76,087 77,609 79,161 80,744 82,359 84,007 85,687 87,400 89,148 90,931 92,750 94,605 96,497 98,427 100,396 102,403 104,452 106,541 2,404,457 Trophy Club Northwest ISD 0 0 89,009 178,018 181,579 185,210 188,915 192,693 196,547 200,478 204,487 208,577 212,748 217,003 221,344 225,770 230,286 234,891 239,589 244,381 249,269 254,254 259,339 264,526 269,816 275,213 280,717 286,331 292,058 297,899 303,857 309,934 6,994,741 Northwest ISD Denton County 0 0 17,460 34,919 35,617 36,330 37,056 37,798 38,553 39,325 40,111 40,913 41,732 42,566 43,417 44,286 45,172 46,075 46,996 47,936 48,895 49,873 50,870 51,888 52,926 53,984 55,064 56,165 57,288 58,434 59,603 60,795 1,372,048 Denton County Trophy CLUB MUD 1 0 0 8,174 16,348 16,675 17,009 17,349 17,696 18,050 18,411 18,779 19,155 19,538 19,928 20,327 20,734 21,148 21,571 22,003 22,443 22,892 23,349 23,816 24,293 24,779 25,274 25,780 26,295 26,821 27,358 27,905 28,463 642,360 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #1 4,220,902 0 0 145,240 290,480 296,290 302,215 308,260 314,425 320,713 327,128 333,670 340,344 347,150 354,093 361,175 368,399 375,767 383,282 390,948 398,767 406,742 414,877 423,174 431,638 440,271 449,076 458,058 467,219 476,563 486,094 495,816 505,733 11,413,606 REVENUE #2 - BLOCK B REAL PROPERTY TAX 0 0 24,724,300 37,086,450 49,448,600 50,437,572 51,446,323 52,475,250 53,524,755 54,595,250 55,687,155 56,800,898 57,936,916 59,095,654 60,277,567 61,483,119 62,712,781 63,967,037 65,246,378 66,551,305 67,882,331 69,239,978 70,624,777 72,037,273 73,478,018 74,947,579 76,446,530 77,975,461 79,534,970 81,125,670 82,748,183 84,403,147 BUSINESS PERSONAL PROPERTY 0 0 844,120 1,266,180 1,688,240 1,722,005 1,756,445 1,791,574 1,827,405 1,863,953 1,901,232 1,939,257 1,978,042 2,017,603 2,057,955 2,099,114 2,141,097 2,183,918 2,227,597 2,272,149 2,317,592 2,363,944 2,411,222 2,459,447 2,508,636 2,558,809 2,609,985 2,662,184 2,715,428 2,769,737 2,825,131 2,881,634 Trophy Club 0 0 127,663 191,495 255,326 260,433 265,641 270,954 276,373 281,901 287,539 293,290 299,155 305,138 311,241 317,466 323,815 330,292 336,898 343,636 350,508 357,518 364,669 371,962 379,401 386,989 394,729 402,624 410,676 418,890 427,268 435,813 9,779,304 Trophy Club Northwest ISD 0 0 371,381 557,072 742,763 757,618 772,770 788,226 803,990 820,070 836,471 853,201 870,265 887,670 905,423 923,532 942,003 960,843 980,059 999,661 1,019,654 1,040,047 1,060,848 1,082,065 1,103,706 1,125,780 1,148,296 1,171,262 1,194,687 1,218,581 1,242,952 1,267,811 28,448,707 Northwest ISD Denton County 0 0 72,848 109,272 145,696 148,610 151,582 154,614 157,706 160,860 164,077 167,359 170,706 174,120 177,603 181,155 184,778 188,473 192,243 196,088 200,009 204,010 208,090 212,252 216,497 220,827 225,243 229,748 234,343 239,030 243,810 248,687 5,580,334 Denton County Trophy CLUB MUD 1 0 0 34,106 51,159 68,211 69,576 70,967 72,387 73,834 75,311 76,817 78,353 79,921 81,519 83,149 84,812 86,509 88,239 90,004 91,804 93,640 95,512 97,423 99,371 101,359 103,386 105,453 107,563 109,714 111,908 114,146 116,429 2,612,580 Trophy CLUB MUD 1 npv @ 6% SUBTOTAL #2 17,054,735 0 0 605,998 908,997 1,211,996 1,236,236 1,260,961 1,286,180 1,311,904 1,338,142 1,364,905 1,392,203 1,420,047 1,448,448 1,477,417 1,506,965 1,537,104 1,567,846 1,599,203 1,631,187 1,663,811 1,697,087 1,731,029 1,765,650 1,800,963 1,836,982 1,873,722 1,911,196 1,949,420 1,988,408 2,028,177 2,068,740 46,420,925 30 YEAR - TOTAL REVENUE GENERATED OVERVIEW REAL PROPERTY TAX BUSINESS PERSONAL PROPERTY TAX Economic Development DAVID PETTIT TIRZ No. 2 Board Page 47 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 28 Financial Feasibility Analysis REVENUE #3 - BLOCK C REAL PROPERTY TAX 0 0 0 24,000,000 49,500,000 70,129,500 71,532,090 72,962,732 74,421,986 75,910,426 77,428,635 78,977,207 80,556,752 82,167,887 83,811,244 85,487,469 87,197,219 88,941,163 90,719,986 92,534,386 94,385,074 96,272,775 98,198,231 100,162,195 102,165,439 104,208,748 106,292,923 108,418,781 110,587,157 112,798,900 115,054,878 117,355,976 BUSINESS PERSONAL PROPERTY 0 0 0 800,000 1,406,475 1,875,300 1,912,806 1,951,062 1,990,083 2,029,885 2,070,483 2,111,892 2,154,130 2,197,213 2,241,157 2,285,980 2,331,700 2,378,334 2,425,901 2,474,419 2,523,907 2,574,385 2,625,873 2,678,390 2,731,958 2,786,597 2,842,329 2,899,176 2,957,159 3,016,302 3,076,628 3,138,161 Trophy Club 0 0 0 123,826 254,176 359,520 366,710 374,045 381,525 389,156 396,939 404,878 412,975 421,235 429,660 438,253 447,018 455,958 465,077 474,379 483,867 493,544 503,415 513,483 523,753 534,228 544,912 555,811 566,927 578,265 589,831 601,627 13,084,993 Northwest ISD 0 0 0 360,220 739,417 1,045,870 1,066,787 1,088,123 1,109,885 1,132,083 1,154,725 1,177,819 1,201,376 1,225,403 1,249,911 1,274,909 1,300,408 1,326,416 1,352,944 1,380,003 1,407,603 1,435,755 1,464,470 1,493,760 1,523,635 1,554,107 1,585,190 1,616,893 1,649,231 1,682,216 1,715,860 1,750,177 38,065,195 Denton County 0 0 0 70,659 145,040 205,152 209,255 213,440 217,709 222,063 226,504 231,034 235,655 240,368 245,175 250,079 255,080 260,182 265,386 270,693 276,107 281,629 287,262 293,007 298,867 304,845 310,942 317,160 323,504 329,974 336,573 343,305 7,466,648 Trophy CLUB MUD 1 0 0 0 33,081 67,904 96,047 97,968 99,928 101,926 103,965 106,044 108,165 110,328 112,535 114,785 117,081 119,423 121,811 124,247 126,732 129,267 131,852 134,489 137,179 139,923 142,721 145,576 148,487 151,457 154,486 157,576 160,727 3,495,708 npv @ 6% SUBTOTAL #3 21,964,143 0 0 0 587,786 1,206,536 1,706,589 1,740,720 1,775,535 1,811,046 1,847,266 1,884,212 1,921,896 1,960,334 1,999,541 2,039,531 2,080,322 2,121,928 2,164,367 2,207,654 2,251,807 2,296,844 2,342,780 2,389,636 2,437,429 2,486,177 2,535,901 2,586,619 2,638,351 2,691,118 2,744,941 2,799,840 2,855,836 62,112,544 REVENUE #4 - BLOCK D REAL PROPERTY TAX 0 0 0 0 2,558,100 3,837,150 5,116,200 5,218,524 5,322,894 5,429,352 5,537,939 5,648,698 5,761,672 5,876,906 5,994,444 6,114,333 6,236,619 6,361,352 6,488,579 6,618,350 6,750,717 6,885,732 7,023,446 7,163,915 7,307,193 7,453,337 7,602,404 7,754,452 7,909,541 8,067,732 8,229,087 8,393,668 BUSINESS PERSONAL PROPERTY 0 0 0 0 170,540 255,810 341,080 347,902 354,860 361,957 369,196 376,580 384,111 391,794 399,630 407,622 415,775 424,090 432,572 441,223 450,048 459,049 468,230 477,594 487,146 496,889 506,827 516,963 527,303 537,849 548,606 559,578 Trophy Club 0 0 0 0 13,624 20,436 27,248 27,793 28,349 28,916 29,494 30,084 30,686 31,300 31,926 32,564 33,215 33,880 34,557 35,248 35,953 36,672 37,406 38,154 38,917 39,695 40,489 41,299 42,125 42,968 43,827 44,704 951,532 Northwest ISD 0 0 0 0 39,633 59,450 79,267 80,852 82,469 84,119 85,801 87,517 89,268 91,053 92,874 94,731 96,626 98,559 100,530 102,540 104,591 106,683 108,817 110,993 113,213 115,477 117,787 120,142 122,545 124,996 127,496 130,046 2,768,075 Denton County 0 0 0 0 7,774 11,661 15,549 15,860 16,177 16,500 16,830 17,167 17,510 17,860 18,218 18,582 18,954 19,333 19,719 20,114 20,516 20,926 21,345 21,772 22,207 22,651 23,104 23,566 24,038 24,519 25,009 25,509 542,970 Trophy CLUB MUD 1 0 0 0 0 3,640 5,460 7,279 7,425 7,574 7,725 7,880 8,037 8,198 8,362 8,529 8,700 8,874 9,051 9,232 9,417 9,605 9,797 9,993 10,193 10,397 10,605 10,817 11,033 11,254 11,479 11,709 11,943 254,206 npv @ 6% SUBTOTAL #4 1,557,764 0 0 0 0 64,672 97,007 129,343 131,930 134,569 137,260 140,005 142,805 145,661 148,575 151,546 154,577 157,669 160,822 164,038 167,319 170,666 174,079 177,561 181,112 184,734 188,429 192,197 196,041 199,962 203,961 208,040 212,201 4,516,782 REVENUE #5 - BLOCK E REAL PROPERTY TAX 0 0 0 0 4,755,000 7,132,500 9,510,000 9,700,200 9,894,204 10,092,088 10,293,930 10,499,808 10,709,805 10,924,001 11,142,481 11,365,330 11,592,637 11,824,490 12,060,979 12,302,199 12,548,243 12,799,208 13,055,192 13,316,296 13,582,622 13,854,274 14,131,360 14,413,987 14,702,267 14,996,312 15,296,238 15,602,163 BUSINESS PERSONAL PROPERTY 0 0 0 0 297,000 445,500 594,000 605,880 617,998 630,358 642,965 655,824 668,940 682,319 695,966 709,885 724,083 738,564 753,336 768,402 783,770 799,446 815,435 831,743 848,378 865,346 882,653 900,306 918,312 936,678 955,412 974,520 Trophy Club 0 0 0 0 25,225 37,837 50,449 51,458 52,487 53,537 54,608 55,700 56,814 57,950 59,109 60,292 61,497 62,727 63,982 65,262 66,567 67,898 69,256 70,641 72,054 73,495 74,965 76,464 77,994 79,553 81,144 82,767 1,761,734 Northwest ISD 0 0 0 0 73,380 110,070 146,761 149,696 152,690 155,744 158,858 162,036 165,276 168,582 171,953 175,393 178,900 182,478 186,128 189,850 193,647 197,520 201,471 205,500 209,610 213,802 218,079 222,440 226,889 231,427 236,055 240,776 5,125,013 Denton County 0 0 0 0 14,394 21,591 28,788 29,363 29,951 30,550 31,161 31,784 32,420 33,068 33,729 34,404 35,092 35,794 36,510 37,240 37,985 38,744 39,519 40,310 41,116 41,938 42,777 43,633 44,505 45,395 46,303 47,229 1,005,293 Trophy CLUB MUD 1 0 0 0 0 6,739 10,108 13,478 13,747 14,022 14,303 14,589 14,880 15,178 15,482 15,791 16,107 16,429 16,758 17,093 17,435 17,784 18,139 18,502 18,872 19,250 19,635 20,027 20,428 20,836 21,253 21,678 22,112 470,654 npv @ 6% SUBTOTAL #5 2,884,157 0 0 0 0 119,738 179,606 239,475 244,265 249,150 254,133 259,216 264,400 269,688 275,082 280,583 286,195 291,919 297,757 303,713 309,787 315,983 322,302 328,748 335,323 342,030 348,870 355,848 362,965 370,224 377,628 385,181 392,885 8,362,695 REVENUE #6 - SALES SALES TAX 0 0 349,386 581,529 834,630 995,418 1,072,790 1,094,246 1,116,131 1,138,453 1,161,222 1,184,447 1,208,136 1,232,298 1,256,944 1,282,083 1,307,725 1,333,879 1,360,557 1,387,768 1,415,523 1,443,834 1,472,711 1,502,165 1,532,208 1,562,852 1,594,109 1,625,991 1,658,511 1,691,682 1,725,515 1,760,025 38,882,770 SUBTOTAL #6 14,031,666 0 0 349,386 581,529 834,630 995,418 1,072,790 1,094,246 1,116,131 1,138,453 1,161,222 1,184,447 1,208,136 1,232,298 1,256,944 1,282,083 1,307,725 1,333,879 1,360,557 1,387,768 1,415,523 1,443,834 1,472,711 1,502,165 1,532,208 1,562,852 1,594,109 1,625,991 1,658,511 1,691,682 1,725,515 1,760,025 38,882,770 REVENUE #7 - HOT HOTEL OCCUPANCY TAX 0 0 0 465,010 474,310 483,796 493,472 503,342 513,409 523,677 534,150 544,833 555,730 566,845 578,181 589,745 601,540 613,571 625,842 638,359 651,126 664,149 677,432 690,980 704,800 718,896 733,274 747,939 762,898 778,156 793,719 809,594 18,038,777 SUBTOTAL #7 6,561,745 0 0 0 465,010 474,310 483,796 493,472 503,342 513,409 523,677 534,150 544,833 555,730 566,845 578,181 589,745 601,540 613,571 625,842 638,359 651,126 664,149 677,432 690,980 704,800 718,896 733,274 747,939 762,898 778,156 793,719 809,594 18,038,777 REVENUE A, 1, 2, 3, 4, 5, 6, 7 2,649 5,352 1,108,732 2,844,722 4,221,959 5,017,581 5,264,718 5,372,661 5,482,764 5,595,069 5,709,619 5,826,461 5,945,640 6,067,202 6,191,195 6,317,668 6,446,671 6,578,254 6,712,468 6,849,367 6,989,004 7,131,433 7,276,711 7,424,895 7,576,042 7,730,212 7,887,466 8,047,864 8,211,471 8,378,350 8,548,566 8,722,187 191,484,950 Running Total 2,649 8,001 1,116,733 3,961,455 8,183,414 13,200,995 18,465,713 23,838,374 29,321,138 34,916,206 40,625,826 46,452,287 52,397,926 58,465,128 64,656,323 70,973,991 77,420,662 83,998,916 90,711,384 97,560,751 104,549,755 111,681,188 118,957,899 126,382,793 133,958,835 141,689,047 149,576,513 157,624,377 165,835,848 174,214,197 182,762,763 191,484,950 NET PRESENT VALUE @ 6%68,800,921 GROSS 191,484,950 DISTRICT BREAKDOWN 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 Trophy Club $30,749,087.13 558 1,127 509,354 1,425,355 1,922,614 2,224,628 2,345,401 2,392,867 2,441,282 2,490,666 2,541,037 2,592,416 2,644,823 2,698,277 2,752,801 2,808,415 2,865,141 2,923,002 2,982,021 3,042,219 3,103,622 3,166,252 3,230,135 3,295,296 3,361,760 3,429,554 3,498,703 3,569,235 3,641,178 3,714,559 3,789,409 3,865,755 85,269,462 Northwest ISD $29,543,601.68 1,624 3,280 465,359 1,102,002 1,785,221 2,168,461 2,266,570 2,313,525 2,361,419 2,410,271 2,460,100 2,510,926 2,562,768 2,615,647 2,669,584 2,724,599 2,780,714 2,837,952 2,896,335 2,955,885 3,016,627 3,078,583 3,141,778 3,206,237 3,271,986 3,339,049 3,407,454 3,477,226 3,548,395 3,620,986 3,695,029 3,770,554 82,466,146 Denton County $5,795,102.05 318 643 91,282 216,162 350,179 425,353 444,597 453,808 463,202 472,785 482,559 492,529 502,698 513,070 523,650 534,442 545,449 556,676 568,128 579,809 591,724 603,877 616,273 628,917 641,814 654,969 668,386 682,073 696,033 710,272 724,796 739,610 16,176,082 Trophy CLUB MUD 1 $2,713,129.80 149 301 42,736 101,202 163,945 199,140 208,150 212,462 216,860 221,347 225,923 230,590 235,351 240,207 245,161 250,213 255,366 260,623 265,984 271,453 277,031 282,721 288,524 294,444 300,482 306,641 312,923 319,330 325,866 332,532 339,332 346,268 7,573,259 TOTALS 2,649 5,352 1,108,732 2,844,722 4,221,959 5,017,581 5,264,718 5,372,661 5,482,764 5,595,069 5,709,619 5,826,461 5,945,640 6,067,202 6,191,195 6,317,668 6,446,671 6,578,254 6,712,468 6,849,367 6,989,004 7,131,433 7,276,711 7,424,895 7,576,042 7,730,212 7,887,466 8,047,864 8,211,471 8,378,350 8,548,566 8,722,187 100,773,565 Economic Development DAVID PETTIT TIRZ No. 2 Board Page 48 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 29 Projects Cost Estimates: All project costs listed in the project plan shall be considered estimates and shall not be considered a cap on expenditures. Length of TIRZ #2 in Years: The TIRZ has a 32-year term and is scheduled to end on December 31, 2046. Powers and Duties of Board of Directors: The Board shall have all powers granted to it by Chapter 311 of the Texas Tax Code, including powers of a municipality under Chapter 380, Local Government Code. The Board shall not be authorized to: issue bonds; impose taxes or fees; exercise the power of eminent domain; or give final approval to the Zone’s project and financing plan. Financial Feasibility Analysis Economic Development DAVID PETTIT TIRZ No. 2 Board Page 49 of 50 Monday, April 28, 2014 Preliminary Project and Financing Plan, TIRZ #2 30 Exhibit A Account Number Owner Name Owner Address Legal 1 Acres SQ FT Land Value AG Exemption Taxable Value 68347 JSB Properties LP 6211 Raintree Ct Dallas, TX 75254-8602 A0823a C. Medlin, Tr 19, 3.4096 Acres, Old Dcad Tr #3b 3.4096 148522.18 $594,088 0 $594,088 171495 JSB Properties LP 6212 Raintree Ct Dallas, TX 75254-8602 A0823a C. Medlin, Tr 21, Acres 4.3073 4.3073 187625.99 $750,504 0 $754,852 171494 JSB Properties LP 6213 Raintree Ct Dallas, TX 75254-8602 A0823a C. Medlin, Tr 21a, 5.612 Acres 5.612 244458.72 $977,836 0 $977,836 151108 JSB Properties LP 12222 Merit Dr Ste 120 Dallas, TX 75251-2228 A0823a C. Medlin, Tr 22, 13.055 Acres, Old Dcad Tr #4b 13.055 568675.8 $2,274,700 0 $2,274,700 171493 JSB Properties LP 6213 Raintree Ct Dallas, TX 75254-8602 A0823a C. Medlin, Tr 1a, Acres 2.077 2.077 90474.12 $361,896 $499,426 335139 Trophy Club Municipal 100 Municipal Drive Trophy Club, TX 76262 Municipal Utlity District No 1 Complex Blk 1 Lot 1 0.936 40772.16 $163,089 0 $0 335140 Trophy Club Municipal 100 Municipal Drive Trophy Club, TX 76262 Municipal Utlity District No 1 Complex Blk 1 Lot 2 1.287 56061.72 $224,247 0 $0 185201 Holley, Russell W Trs Of Cyrus & Shirley C Holley 1991 Irrev Trst 692 Garden Court Southlake TX, 76092-3502 The Village At Trophy Club Lot 3 1.6010101 69740 $488,180 0 $488,180 335141 Trophy Club Municipal 100 Municipal Drive Trophy Club, TX 76262 Municipal Utlity District No 1 Complex Blk 1 Lot 3 3.044 132596.64 $530,387 0 $0 Trophy Club TIRZ #2 Parcels Economic Development DAVID PETTIT TIRZ No. 2 Board Page 50 of 50 Monday, April 28, 2014