O-3788-11-20 ORDINANCE NO.3788-11-20
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, DESIGNATING A CERTAIN AREA WITHIN THE CITY OF
ALLEN, COLLIN COUNTY, TEXAS, AS CITY OF ALLEN, TEXAS,
REINVESTMENT ZONE NO. THREE ("FARM DISTRICT ZONE");
ESTABLISHING THE BOUNDARIES OF SUCH ZONE; CREATING A BOARD OF
DIRECTORS FOR SAID REINVESTMENT ZONE AND OTHER MATTERS
RELATED THERETO; CONTAINING FINDINGS; PROVIDING A SEVERABILITY
CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council desires to promote the development or redevelopment of a certain geographic
area within its jurisdiction by the creation of a tax increment reinvestment zone, as authorized by the Tax
Increment Financing Act, Chapter 311 of the Texas Tax Code(the"Act"); and,
WHEREAS, in compliance with the Act, the City called a public hearing to receive public comments on the
creation of the proposed City of Allen, Texas Reinvestment Zone No. Three (the"Reinvestment Zone"or the
"Zone") and its benefits to the City and the property in the proposed Reinvestment Zone; and,
WHEREAS,in compliance with the Act,the City Council notified the governing body of each taxing unit that
levies real property taxes within the proposed Reinvestment Zone of its intent to establish the Reinvestment
Zone; and,
WHEREAS, in compliance with the Act, notice of the public hearing was published in The Allen American, a
paper of general circulation in the City, such publication date being not later than seven (7) days prior to the
date of the public hearing; and,
WHEREAS,such hearing was convened at the time and place mentioned in the published notice,to wit,on the
17`l'day of November 2020 at 1:30 p.m., at the Council Chambers in the City Hall of the City of Allen, Collin
County, Texas, which hearing was then closed; and,
WHEREAS, the City, at such hearing, invited any interested person, or the person's representative, to appear
and speak for or against the creation of the Reinvestment Zone, the boundaries of the proposed Reinvestment
Zone, as described in Exhibit"A" attached hereto, and as depicted in the map attached hereto as Exhibit`B,"
whether all or part of the territory described in Exhibit"A"and as depicted in Exhibit`B" should be included
in such proposed Reinvestment Zone, the concept of tax increment financing, and the appointment of a Board
of Directors for the proposed Reinvestment Zone; and,
WHEREAS, all owners of property located within the proposed Reinvestment Zone and all other taxing units
and other interested persons were given the opportunity at such public hearing to protest the creation of the
proposed Reinvestment Zone; and,
WHEREAS,the City has reviewed a preliminary reinvestment zone financing plan attached hereto as Exhibit
«C „
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS,THAT:
SECTION 1. The facts and recitations contained in the preamble of this Ordinance are hereby found and
declared to be true and correct.
SECTION 2.The City Council, after conducting such hearing and having heard such evidence and testimony,
has made the following findings and determinations based on the evidence and testimony presented to it:
(a) That the public hearing on adoption of the Reinvestment Zone has been properly called, held
and conducted and that notice of such hearing has been published as required by law.
(b) That creation of the proposed Reinvestment Zone with boundaries as described in Exhibit"A"
and as depicted in Exhibit `B" will result in benefits to the City, its residents and property
owners, in general, and to the property, residents, and property owners in the Reinvestment
Zone.
(c) That the Reinvestment Zone,as described in Exhibit"A"and as depicted in Exhibit`B,"meets
the criteria for the creation of a reinvestment zone as set forth in the Act in that it is a geographic
area located wholly within the corporate limits of the City and the area meets the criteria set
forth in the Act for designation as a reinvestment zone under Tax Code Section 311.005.
(d) That the total appraised value of taxable real property in the proposed Reinvestment Zone and
in existing reinvestment zones does not exceed fifty percent(50%)of the total appraised value
of taxable real property in the City and in the industrial districts created by the City.
(e) That the proposed improvements in the Reinvestment Zone will significantly enhance the value
of all taxable real property in the Reinvestment Zone and will be of general benefit to the City,
and the area meets the requirements of Tax Code Section 311.005.
(f) That the development or redevelopment of the property in the proposed Reinvestment Zone
will not occur solely through private investment in the reasonably foreseeable future.
(g) That not more than more than thirty percent (30%) of the property in the proposed
Reinvestment Zone,excluding property that is publicly owned,is used for residential purposes.
(h) That the proposed Zone is to be predominantly open and, because of obsolete platting,
deterioration of structures, or site improvements, or other factors substantially impair or arrest
the sound growth of the municipality.
(i) That the proposed Reinvestment Zone is predominantly open or undeveloped and, because of
obsolete platting,deterioration of structures or site improvements,or other factors,substantially
impair or arrest the sound growth of the City.
SECTION 3.The City hereby creates the Reinvestment Zone over the area described in Exhibit"A,"attached
hereto, and as depicted in the map attached as Exhibit `B," and such Reinvestment Zone shall hereafter be
identified as"City of Allen,Texas Reinvestment Zone No.Three"(the"Farm District Zone"or"Reinvestment
Zone No. Three").
SECTION 4.There is hereby established a Board of Directors for the Zone,which shall consist of at least five
(5) but not more than fifteen (15) members, unless more members are required to be appointed to satisfy the
requirements of Section 311.009, Tax Code. The Board of Directors of Reinvestment Zone No Three shall be
appointed as follows:
(a) The City shall be entitled to appoint a minimum of five(5)and a maximum of ten(10)members
of the Board of Directors, except that if there are fewer than five (5) directors appointed by
taxing units other than the City, the City Council may appoint more than ten(10)members as
long as the total membership of the Board of Directors does not exceed fifteen(15)members.
The City Council shall appoint its initial members to the Board of Directors within sixty(60)
Ordinance No.3788-11-20,Page 2
days after passage of this Ordinance. The seats on the Board of Directors shall be designated
by place number(e.g. Director Place 1,Director Place 2,Director Place 3, etc.).
(b) Each member of the Board of Directors shall be a resident of the county in which the zone is
located or a county adjacent to that county, or shall own real property in the zone, whether or
not the individual resides in the county in which the zone is located or a county adjacent to that
county.
(c) Each taxing unit other than the City that that levies taxes on real property in the zone may
appoint one member of the board if the taxing unit has approved the payment of all or part of
the tax increment produced by the taxing unit into the tax increment fund for the zone.A taxing
unit eligible to appoint a member to the Board of Directors may waive such right. If a taxing
unit waives its right to appoint a member of the board, the City may appoint a member to the
Board of Directors to such position. The governing body of each taxing unit, other than the
City, eligible to appoint a member to the Board of Directors shall appoint such member within
sixty(60) days after such taxing unit has entered into an agreement with the City for payment
of all or part of the tax increment produced by such taxing unit into the tax increment fund for
the Zone. Failure of such taxing unit to appoint a director within such sixty (60) day period
shall be deemed a waiver of the right to appoint a director,and the City Council shall be entitled
to appoint a person to such position.
(d) A vacancy on the Board shall be filled as set forth in the Act.If a taxing unit waives its right to
appoint a member of the Board, the City may appoint such Board Member in its stead. The
initial Board of Directors shall be appointed by resolution of the governing bodies of the City
and the taxing units within sixty (60) days after the passage of this Ordinance. Failure of a
taxing unit to appoint a director within such sixty(60) day period shall be deemed a waiver of
the right to appoint a director, and the City Council shall be entitled to appoint persons to such
position. Positions one through three are reserved for the City. The remaining positions are
reserved for other taxing units that levy real property taxes in the Zone.Directors appointed by
taxing units other than the City shall be assigned a Board position in the order that the City
receives the appointment. All members appointed to the Board shall meet eligibility
requirements as set forth in the Act.
(e) The terms of the Board members shall be two years.To provide for staggered terms,the initial
Directors appointed to odd-numbered positions shall be appointed for two-year terms, while
the initial Directors appointed for even-numbered positions shall be appointed for one-year
terms.All subsequent appointments shall be for terms of two years.Each year,the City Council
shall designate a member of the Board to serve as Chairperson of the Board of Directors. The
Chairperson shall serve a term of office of one year that runs from January 1 through and
including December 31 of the calendar year. The Board of Directors shall elect from its
members a Vice-Chairperson and other officers, as it deems appropriate.
(f) The Board of Directors shall make recommendations to the City Council concerning the
administration of the Zone. The Board of Directors shall prepare and adopt a project plan and
Reinvestment Zone financing plan for the Reinvestment Zone and must submit such plans to
the City Council for its approval. The City Council delegates to the Board of Directors all
powers necessary to prepare and implement the project and Reinvestment Zone financing plans
for the Reinvestment Zone, including any required annual reports on the status of the
Reinvestment Zone, all subject to the approval of the City Council. The Board of Directors
may not enter into any agreements to implement the project plan and reinvestment financing
zone plan.
Ordinance No.3788-11-20,Page 3
SECTION 5. The Zone shall take effect on the adoption of this Ordinance, and the termination of the Zone
shall occur on December 31,2050,or at an earlier time designated by subsequent Ordinance of the City Council,
or at such time,subsequent to the issuance of any tax increment bonds,if any,that all project costs,tax increment
bonds,notes or other obligations of the Zone, and the interest thereon,if any,have been paid in full.
SECTION 6. The Tax Increment Base for the Zone, which is the total appraised value of all taxable real
property located in the Zone, is to be deteiinined as of January 1, 2020, the year in which the Zone was
designated as a tax increment financing reinvestment zone (the "Tax Increment Base"). Tax Increment Base
means the total appraised value of all real property taxable by a Taxing Unit and located in the Zone for the
2020 tax year. Tax Increment means the amount of property taxes levied and collected by the City and by a
Taxing Unit for that year on the captured appraised value of real property taxable by the City and Taxing Unit
and located in the Zone. Captured Appraised Value means the total appraised value of all real property taxable
by the City and a Taxing Unit and located in the Zone for the year less the Tax Increment Base of the City and
a Taxing Unit. For purposes of this Ordinance, "Taxing Unit" means the Allen Independent School District,
Collin County,Collin County Community College District,and any other political subdivision or special district
that taxes real property within the Zone that enters into an agreement with the City for the payment of all or
part of the Tax Increment produced by such other taxing unit into the Tax Increment Fund for the Zone.
SECTION 7.There is hereby created and established a Tax Increment Fund for the Zone which may be divided
into such sub-accounts as may be authorized by subsequent Ordinance,into which all Tax Increments,less any
of the amounts not required to be paid into the Tax Increment Fund pursuant to the Act, are to be deposited.All
Tax Increments as defined herein shall be deposited in the Tax Increment Fund. The Tax Increment Fund and
any sub-accounts are to be maintained at the depository bank of the City and shall be secured in the manner
prescribed by law for funds of the City.In addition, all revenues from the sale of any tax increment bonds,notes
or certificates of obligation, hereafter issued by the City; revenues from the sale of any property acquired as
part of the Reinvestment Zone fmancing plan; and any other revenues to be dedicated to and used in the Zone
shall be deposited into the Tax Increment Fund or sub-account from which money will be disbursed to pay
project costs for the Zone or to satisfy the claims of holders of tax increment bonds, notes or certificates of
obligations issued for the Zone.
SECTION 8. The City will participate in the Zone by contributing ten percent (10%) of the City's Tax
Increment from real property ad valorem taxes in the Zone assessed and collected for Tax Years beginning
January 1,2030 and continuing until termination of the Zone.
SECTION 9. The Mayor or City Manager is hereby authorized to execute any contracts or other agreements
with any taxing units that elect to enter into an agreement with the City for payment of all or part of the Tax
Increment produced by such other taxing unit into the Tax Increment Fund for the Zone.
SECTION 10. All Ordinances of the City of Allen, Collin County, Texas, in conflict with the provisions of
this Ordinance be, and the same are hereby, repealed; provided, however, that all other provisions of said
Ordinances not in conflict with the provisions of this Ordinance shall remain in full force and effect.
SECTION 11. If any section, paragraph, clause or provision of this Ordinance shall for any reason be held
invalid or unenforceable,the invalidity or unenforceability of such section,paragraph, clause or provision shall
not affect any of the remaining provisions of this Ordinance.
SECTION 12.This Ordinance shall take effect upon its passage and the publication of the caption, as the law
and charter in such cases provide.
111 DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY,TEXAS, ON THIS THE 17TH DAY OF NOVEMBER 2020.
APPROVED:
Ordinance No.3788-11-20,Page 4
De ie Stout,MAYOR
APPROVED AS TO FORM: ATTEST:
67, /
Peter G. Smith, CIT ATTORNEY Shelley B. Geor , CITY SECRETARY
(PGS:11-12-20:TM 117910)
Ordinance No.3788-11-20,Page 5
EXHIBIT"A"
BOUNDARY DESCRIPTION OF THE ZONE
LEGAL DESCRIPTION
135.35 ACRES
SITUATED IN THE
J.W.PARSONS SURVEY,ABSTRACT NO.705
THE J.W.ROBERTS SURVEY,ABSTRACT NO.762&
JOHN PHILLIPS SURVEY,ABSTRACT NO.718
COLLIN COUNTY,TEXAS
BEING a tract of land out of the J.W. Parsons Survey, Abstract No.705, John Phillips
Survey, Abstract No. 718 and the J.W. Roberts Survey, Abstract No. 762 in the City of
Allen, Collin County, Texas, being part of a 8.44 acre tract of land described in deed to
Johnson Centre, Ltd. recorded in Volume 4505, Page 2672, being part of a 5 acre tract of
land described in deed to Johnson Centre,Ltd.recorded in Volume 4505,Page 2464,being
part of a 56.78 acre tract of land described in deed to Johnson Centre, Ltd. recorded in
Volume 4505,Page 2457,being part of a 10 acre tract of land described in deed to Johnson
Centre, Ltd. recorded in Volume 4505, Page 2437, being part of a 10 acre tract of land
described in deed to Johnson Centre, Ltd. recorded in Volume 4505, Page 2452, being
part of a 5 acre tract of land described in deed to Johnson Centre,Ltd.recorded in Volume
4505,Page 2448,being part of a 25 acre tract of land described in deed to Johnson Centre,
Ltd.recorded in Volume 4505,Page 2443, being part of a 9.25 acre tract of land described
in deed to Johnson Centre,Ltd.recorded in Volume 4505,Page 2440,being part of a 27.83
acre tract of land described in deed to Johnson Centre, Ltd. recorded in Volume 4505,
Page 4916, all of the Land.Records of Collin County, Texas and being more particularly
described as follows:
BEGINNING at a point for the intersection of the north right-of-way line of Ridgeview Drive
(variable width ROW)and the east right-of-way line of Alma Drive(variable width right-of-
way)from which a 5/8-inch iron rod found with a cap stamped "Jacobs" bears South 15
degrees 42 minutes East,0.4 feet;
THENCE with said east right-of-way,the following courses and distances to wit:
North 26 degrees 15 minutes 11 seconds West, a distance of 290.58 feet to a 1/2-inch
iron rod found for corner;
North 27 degrees 53 minutes 22 seconds West,a distance of 350.14 feet to a point for
corner from which a 1/2-inch iron rod found bears North 07 degrees 00 minutes West,
0.2 feet;
North 26 degrees 15 minutes 10 seconds West, a distance of 39.49 feet to a 5/8-inch
iron rod found with a plastic cap stamped"KHA°set at the beginning of a tangent curve
to the left having a central angle of 16 degrees 44 minutes 55 seconds, a radius of
1246.00 feet,a chord bearing and distance of North 34 degrees 37 minutes 37 seconds
West, 362.93 feet;
In a northwesterly direction,with said curve to the left,an arc distance of 364.23 feet to
a point from which a 1/2 inch iron rod found bears North 44 degrees 07 minutes East,
0.4 feet;
Page 1 of 3
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Amendment Exhibits1LEGAL.QESS RIPTI0N.itc c.
Ordinance No.3788-11-20,Page 6
LEGAL DESCRIPTION
135.35 ACRES
SITUATED IN THE
J.W.PARSONS SURVEY,ABSTRACT NO.705
THE J.W. ROBERTS SURVEY,ABSTRACT NO.762&
JOHN PHILLIPS SURVEY,ABSTRACT NO.718
COLLIN COUNTY,TEXAS
North 43 degrees 00 minutes 05 seconds West, a distance of 62.15 feet to a.5/8-inch
iron rod with a cap stamped"Jacobs"found at the beginning of a tangent curve to the
right having a central angle of 41 degrees 35 minutes 14 seconds,a radius of 1000.00
feet, a chord bearing and distance of North 22 degrees 12 minutes 27 seconds West,
710.01 feet;
In a northwesterly direction,with said curve to the right, an arc distance of 725.83 feet
to a 5/8-inch iron rod found for corner;
North 01 degree 24 minutes 50 seconds West, a distance of 31.27 feet to a 5/8-inch
iron rod with a cap stamped"Jacobs°found for corner in the south right-of-way of State
Highway 121 (Sam Rayburn Tollway-variable width ROW);
THENCE leaving the east right-of--way Tine or said Aima Drive and with said south right-of-way
line,the following courses and distances to wit:
North 07 degrees 33 minutes 05 seconds East, a distance of 91.97 feet to a 5/8-inch
iron rod with a cap stamped"Jacobs"found for corner;
North 66 degrees 19 minutes 27 seconds East; a distances.of 812.38 feet to a broken
concrete monument found for corner;
North 67 degrees 18 minutes 11 seconds East,a distance of 443.02 feet to a point from
a 5/8-inch iron rod with a cap stamped"Jacobs" bears South 37 degrees 10 minutes
East, 0.3 feet;
North 60 degrees 31 minutes 56 seconds East,a distance of 979.70 feet to a point from
which a 5/8-inch iron rod with a cap stamped "Jacobs° bears South 32 degrees 59
minutes East, 0.6 feet;
North 64 degrees 38 minutes 32 seconds East, a distance of 1098.60 feet to an
aluminum disk stamped"Allen'for corner in the west line of a 129.37 acre tract of land
described in deed Elkin P. Bush Property Company recorded in Volume 3988, Page
1722 of the Land Records of Collin County, Texas;
THENCE leaving the south right-of-way line of said State Highway 121 and with said west line,
South 00 degrees 39 minutes 28 seconds East, a distance of 2501.38 feet to a 5/8-inch iron
rod found for corner in the north right-of-way line of said Ridgeview Drive;
THENCE with said south right-of-way line,the foiiowing courses and distances to wit:
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Ammendmment Exhithts\LEGAL DESCRIPTION.dxx
Ordinance No.3788-11-20,Page 7
LEGAL DESCRIPTION
135.35 ACRES
SITUATED IN THE
J.W. PARSONS SURVEY,ABSTRACT NO.705
THE J.W.ROBERTS SURVEY,ABSTRACT NO.762&
JOHN PHILLIPS SURVEY,ABSTRACT NO.718
COLLIN COUNTY,TEXAS
South 77 degrees 01 minutes 35 seconds West,a distance of 359.26 feet to a 5/8-inch iron
rod found for corner;
South 00 degrees 42 minutes 01 second East, a distance of 65.00 feet to a 5/8-inch iron
rod with a plastic cap stamped"KHA'set for corner;
South 88 degrees 42 minutes 16 seconds West,a distance of 181.48 feet to a 5/8-inch iron
rod with a plastic cap stamped"KHA"set for corner from which a 5/8-inch iron rod with a
cap stamped"Jacobs"bears North 14 degrees 33 seconds West, 1.3 feet;
South 89 degrees 30 minutes 19 seconds West, a distance of 212.08 feet to a 5/8-inch
iron rod with a plastic cap stamped"KHA"set for corner from which a 5/8-inch iron rod with
a cap stamped "Jacobs" bears North 20 degrees 30 seconds West, 1.10 feet for the
beginning of a non-tangent curve to the left having a central angle of 20 degrees 29 minutes
47 seconds,a radius of 1185.00 feet, a chord bearing and distance of.South 78 degrees 53
minutes 50 seconds West,421.65 feet
In a southwesterly direction,with said curve to the left, an arc distance of 423.91 feet to a
5/8-inch iron rod with a plastic cap stamped"KHA"set for corner from which a 5/8-inch iron
rod with a cap stamped"Jacobs"bears North 24 degrees 38 seconds West,0.7 feet;
South 68 degrees 38 minutes 57 seconds West, a distance of 740.20 feet to a point from
which a 5/8-inch iron rod with a cap stamped"Jacobs'bears South 08 degrees 07 seconds
West,0.3 feet,said point being the beginning of a tangent curve to the left having a central
angle of 04 degrees 53 minutes 29 seconds,a radius of 1185.00 feet, a chord bearing and
distance of South 66 degrees 12 minutes 12 seconds West, 101.13 feet;
In a southwesterly direction, with said curve to the left, an arc distance of 101.16 feet to a
5/8-inch iron rod found for corner,
South 63 degrees 45 minutes 28 seconds West, a distance of 304.60 feet to the POINT
OF BEGINNING and containing 135.350 acres or 5,895,828 square feet of land.
The Basis of Bearings is the Texas Coordinate System of 1983,North Central Zone(4202),
North American Datum of 1983.
Al C. Howard _ `'� "Fos
RPLS 6267 ; •
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TX FIRM NO 10194205 .. ' "•' t.•..
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Ammendment EXhibitskLEGN—USCRIPTION.docx
Ordinance No.3788-11-20,Page 8
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EXHIBIT"B"
DEPICTION OF THE REINVESTMENT ZONE
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Ordinance No.3788-11-20,Page 10
EXHIBIT"C"
PRELIMINARY REINVESTMENT ZONE PROJECT AND FINANCING PLAN
Ordinance No.3788-11-20,Page 11
City of Allen Reinvestment Zone Number Three
Preliminary TIF Project and Financing Plan
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Executive Summary
The land that compromises the proposed district has been a north Texas farm throughout its entire
history. Acres of prairie grasses waving in wind along with fields of cotton were common for many
years. The property has been owned by the Johnson family since 1964 and served not only as a working
farm but a place for family and friends to gather for good times.The development fronts SH 121 toward
the north, borders Alma Dr to the west, and sits atop Ridgeview Dr to the south.
When fully built out,The Farm in Allen will contain office, retail,corporate headquarters, restaurants,
entertainment and residential uses that will collectively comprise an economic development project
that will promote economic development within the Zone. In addition to the project development,
however,will be numerous amenities designed specifically for the communities that surround it. Family
friendly parks, hike and bike trails throughout with interesting surprises along the way;a lake with
overlook seating and dining, play areas and nature trails will be found throughout the development.
Over 30 acres of open space will be provided including the 16 acres greenbelt area along Watters Creek
will remain a natural wooded area very similar to what it has been for decades.
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A. Existing uses and Conditions
(1) The following is a description and map showing existing uses and conditions of real property
in the City of Allen Reinvestment Zone Number Three and proposed uses of that property.
The tract is zoned as a Planned Development established as "PD" Planned Development No. 134A
consisting of Corporate Office, Retail, Hotel, and Residential Mix of Uses (referred to herein alternatively
as "PD-134A"or"the District").
The plans for the property will provide an integrated mix of uses that provides flexibility and creates a
creative, efficient and aesthetically desirable development by strategically positioning buildings, open
spaces, and circulation patterns within a mixed-use context in this economic development project that
promotes economic development within the Zone. The District utilizes an existing creek,vegetation,
and proposed open spaces and parks to create a desirable environment for living,working and
recreating within a walkable project focused around corporate office.
The eastern portion of the district is bisected by a tree lined creek that runs north and south. The
current use of the district is agricultural and is characterized by cotton rows and other crop plantings as
shown in the following images:
(see next page)
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(2) The following are proposed changes of zoning ordinances,the master plan of the municipality,
building codes,other municipal ordinances,and subdivision rules and regulations,if any,of
the county, if applicable.
Not applicable. There are no changes to PD-134A in creation of the TIF. The Mixed Use and Corporate
Office Zoning for the property is already in place.
B. Administration and Implementation:
(3) The following is a list of estimated non-project costs:
Administration costs, including reasonable charges for time spent by the municipality's employees and
funding for special studies conducted on behalf of the City of Allen to assist with implementation within
the District,will be eligible for reimbursement as project costs, upon approval by the District's Board of
Directors and in connection with the implementation of the Project Plan and Reinvestment Zone
Financing Plan. Other TIF-related administrative expenses such as the City's legal and consulting fees
(including but not limited to bond counsel and financial advisor fees), management expenses, meeting
expenditures, and equipment are included in this category.
(4) The following is a statement of a method of relocating persons to be displaced,if any,as a
result of implementing the plan.
The property is currently unoccupied and being in an agricultural use. Hence there will be no displaced
persons in PD-134A.
C. Project Cost
(5) The following is a detailed list describing the estimated project costs of the zone,including
administrative expenses.
Project cost for the TIF will be for the maintenance of certain private roadways, bridges, parks,
landscaping and sidewalks within the planned development. It is anticipated that the developer will
need to replace these items after their useful life has expired. For the purpose of this plan,we
estimate that the replacement cost of these items will be approximately equivalent to the initial
capital investment for their construction. The maintenance of these private items below is critical to
the success of this economic development project that will promote economic development within
the Zone. The TIF is intended to provide funds to cover a portion of all of the Project Costs below.
List of Project Costs:
a. Private Roadway and Sidewalk Replacement Costs: $9,180,982
b. Private Bridge Replacement Costs: $1,216,350
c. Private Parks/Landscaping/Lake/Irrigation: $3,952,325
d. City of Allen Administration Costs for TIF: $15,000 annually for duration of Reinvestment Zone
•
(6) The following is a statement listing the proposed kind,number,and location of all public
works or public improvements to be financed by the zone.
The TIF will not be used to finance any public works or public improvement projects through the use
of debt within the zone.
Instead TIF funds will be expended once they have been accumulated in the TIF fund to fund the
cost of maintenance expenses related to certain private roadways, bridges, parks, lake, irrigation
landscaping and sidewalks within the planned development. TIF funds will be used for the
maintenance and replacement of approximately seven (7) privately-owned streets and the privately-
owned sidewalks that run along those streets, as well as parks and open spaces. The seven (7)
privately owned streets are highlighted in blue and red on the included Schedule A and the parks
and open spaces are shown in the attached Schedule B.
(7) The following is a finding that the plan is economically feasible and an economic feasibility
study.
Attached is a TIF economic feasibility study for Reinvestment Zone Number Three that was
completed by an independent third-party contractor(Schedule C). Starting in the 10th year
following the creation of the Reinvestment Zone and continuing through the 30th year following the
creation of the Reinvestment Zone,the TIF is planned to accrue a tax increment based on 10%of the
real property tax collected by the City of Allen. Schedule C indicates that approximately
$13,278,792 is expected to accumulate in the TIF Fund during that time period. The projected
Project Costs outlined under item (5)above sum to a total of$14,649,657. The TIF funds are
intended to cover a portion or all of the identified Project Expenses above. Hence,the TIF is shown
to be economically feasible to support economic development within the Zone.
(8) The following is the estimated amount of bonded indebtedness to be incurred.
No bond indebtedness will be incurred. Project Costs will be funded after funds are accumulated in
the TIF Fund.
(9) The following is the estimated time when related costs or monetary obligations are to be
incurred.
Beginning in the 10th year following the creation of the Reinvestment Zone, and continuing until the
30th year following the creation of the Reinvestment Zone,the developer(s)of the project will incur
Project Costs related to the maintenance and/or replacement of certain private roadways, bridges,
parks, lake, irrigation landscaping and sidewalks within the planned development. These Project
Costs will be incurred at various times during the term of the TIF Zone, depending on the rate at
which the components degrade and require repair or replacement. The Project Costs to be
reimbursed by the TIF will be capped at the lesser of(a) actual costs incurred by the developer(s)for
maintenance and repair expenses for allowable items, and (b)the TIF funds generated by the 10%
increment of the real property taxes produced by the City of Allen, less the City of Allen
administration expenses.
(10) The following is a description of the methods of financing all estimated project costs and the
expected sources of revenue to finance or pay project costs,including the percentage of tax
increment to be derived from the property taxes of each taxing unit anticipated to contribute
tax increment to the zone that levies taxes on real property in the zone.
The only taxing entity that will contribute to the TIF is the City of Allen. The City of Allen will
contribute 10%of the real property taxes produced within the zone. All project costs will be paid in
cash from funds already accumulated in the TIF Fund. No financing or debt will be issued in this
zone.
(11) The following is the current total appraised value of taxable real property in the zone.
The only property in the zone is raw land,valued at$33,431,240(see Schedule C;Appendix 1).
(12) The following is the estimated captured appraised value of the zone during each year of its
existence.
See the column labeled "Real Property" in the attached Schedule C. This column shows the
estimated real property appraised value of the zone during each year of its existence.
(13) The following is the duration of the zone.
The zone will be approved and established for a period of 30 years.
Schedule A
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STREET PLAN ( V) --_—,
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A or I 29 2020
ALMA RD/HIGHWAY 121
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ALLEN,TX
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Schedule C
City of Allen Reinvestment Zone Number Three
• Reinvestment Zone Financing Plan, in 2019 Dollars •
Notes:
Values in this summary are imported from subordinate schedules.
(a) (b) (c) (d) (e) (f) (g) (h)
Products
Bought Taxes
Property in Year Generally Percent of Cumulative
Value for Ended Received Real City Tax Increment TIF TIF
Year Jan.1, Dec.31, by Mid- Property to TIF Fund Revenues Revenues
-1 2019 2019 2020 $1,379 0% $ - $0
Base 2020 2020 2021 $1,365 0% $ - $0
1 2021 2021 2022 $1,351 0% $ - $0
2 2022 2022 2023 $168,277 0% $ - $0
3 2023 2023 2024 $482,589 0% $ - $0
4 2024 2024 2025 $809,205 0% $ - $0
5 2025 2025 2026 $1,481,743 0% $ - $0
6 2026 2026 2027 $2,093,960 0% $ - $0
7 2027 2027 2028 $2,971,466 0% $ - $0
8 2028 2028 2029 $3,738,196 0% $ - $0
9 2029 2029 2030 $4,155,252 0% $ - $0
10 2030 2030 2031 $4,788,961 10% $ 478,896.07 $478,896
11 2031 2031 2032 $5,364,533 10% $ 536,453.27 $1,015,349
12 2032 2032 2033 $5,903,657 10% $ 590,365.68 $1,605,715
13 2033 2033 2034 $5,961,513 10% $ 596,151.26 $2,201,866
14 2034 2034 2035 $6,019,935 10% $ 601,993.55 $2,803,860
15 2035 2035 2036 $6,078,931 10% $ 607,893.08 $3,411,753
16 2036 2036 2037 $6,138,504 10% $ 613,850.44 $4,025,603
17 2037 2037 2038 $6,198,662 10% $ 619,866.17 $4,645,470
18 2038• 2038 2039 $6,259,409 10% $ 625,940.86 $5,271,410
19 2039 2039 2040 $6,320,751 10% $ 632,075.08 $5,903,485
20 2040 2040 2041 $6,382,694 10% $ 638,269.41 $6,541,755
21 2041 2041 2042 $6,445,245 10% $ 644,524.45 $7,186,279
22 2042 2042 2043 $6,508,408 10% $ 650,840.79 $7,837,120
23 2043 2043 2044 $6,572,190 10% $ 657,219.03 $8,494,339
24 2044 2044 2045 $6,636,598 10% $ 663,659.78 $9,157,999
25 2045 2045 2046 $6,701,636 10% $ 670,163.65 $9,828,163
26 2046 2046 2047 $6,767,312 10% $ 676,731.25 $10,504,894
27 2047 2047 2048 $6,833,632 10% $ 683,363.22 $11,188,257
28 2048 2048 2049 $6,900,602 10% $ 690,060.18 $11,878,317
29 2049 2049 2050 $6,968,228 10% $ 696,822.77 $12,575,140
30 2050 2050 2051 $7,036,516 10% $ 703,651.63 $13,278,792
Total for years 1-30 $148,689,955 $13,278,792
EMI
Schedule C
Schedule 1:
Summary Forecast: City of Allen Tax Revenue from The Farm
Notes:
Values in this summary are imported from subordinate schedules.
Franchise and sales taxes on utility services are not included in this evaluation of municipal tax revenue.
(a) (b) (c) (d) (e) (f) (9) (h) (i) G) (k) (I)
Products Annual Tax Revenue to City of Allen from The Farm
Bought Taxes Sales Tax Sales Tax State Grant
Property in Year Generally Business (2%Tax Rate), (2%Tax Rate), to City: Mixed Hotel Cumulative
Value for Ended Received Real Personal Excluding on Construction Beverage Tax Occupancy Total Total
Year Jan. 1, Dec.31, by Mid- Property Property Constr.Materials Materials Receipts Tax Receipts Receipts
-1 2019 2019 2020 $1,379 $0 $0 $0 $0 $0 $1,379i
Base 2020 2020 2021 $1,365 $0 $0 $0 $0 $0 $1,365
1 2021 2021 2022 $1,351 $0 $0 $0 $0 $0 $1,351 11,351
2 2022 2022 2023 $168,277 $0 $0 $332,810 $0 $0 $501,088 $502,439
3 2023 2023 2024 $482,589 $22,562 $153,056 $346,089 $0 $0 $1,004,296 $1,506,735
4 2024 2024 2025 $809,205 $24,131 $272,134 $721,797 $16,379 $336,656 $2,180,302 $3,687,037
5 2025 2025 2026 $1,481,743 $69,348 $654,391 $655,685 $16,706 $362,900 $3,240,773 $6,927,810
6 2026 2026 2027 $2,093,960 $91,048 $953,106 $949,627 $57,364 $390,059 $4,535,164 $11,462,974
7 2027 2027 2028 $2,971,466 $143,384 $972,168 $825,602 $58,512 $405,980 $5,377,112 $16,840,086
8 2028 2028 2029 $3,738,196 $173,932 $991,611 $430,106 $59,682 $414,100 $5,807,626 $22,647,713
9 2029 2029 2030 $4,155,252 $192,575 $1,045,575 $677,203 $60,876 $422,382 $6,553,863 $29,201,576
10 2030 2030 2031 $4,788,961 $226,250 $1,116,729 $609,816 $65,746 $430,829 $7,238,331 $36,439,907
11 2031 2031 2032 $5,364,533 $254,886 $1,210,803 $566,934 $69,668 $439,446 $7,906,269 $44,346,176
12 2032 2032 2033 $5,903,657 $296,769 $1,275,395 $0 $76,762 $448,235 $8,000,817 $52,346,993
13 2033 2033 2034 $5,961,513 $299,677 $1,300,903 $0 $78,297 $457,199 $8,097,589 $60,444,582
14 2034 2034 2035 $6,019,935 $302,614 $1,326,921 $0 $79,863 $466,343 $8,195,676 $68,640,258
15 2035 2035 2036 $6,078,931 $305,579 $1,353,459 $0 $81,460 $475,670 $8,295,100 $76,935,358
16 2036 2036 2037 $6,138,504 $308,574 $1,380,528 $0 $83,090 $485,184 $8,395,880 $85,331,238
17 2037 2037 2038 $6,198,662 $311,598 $1,408,139 $0 $84,751 $494,887 $8,498,037 $93,829,275
18 2038 2038 2039 $6,259,409 $314,652 $1,436,302 $0 $86,446 $504,785 $8,601,593 $102,430,869
19 2039 2039 2040 $6,320,751 $317,735 $1,465,028 $0 $88,175 $514,881 $8,706,570 $111,137,439
20 2040 2040 2041 $6,382,694 $320,849 $1,494,328 $0 $89,939 $525,178 $8,812,989 $119,950,427
21 2041 2041 2042 $6,445,245 $323,993 $1,524,215 $0 $91,738 $535,682 $8,920,872 $128,871,300
22 2042 2042 2043 $6,508,408 $327,169 $1,554,699 $0 $93,572 $546,396 $9,030,244 $137,901,543
23 2043 2043 2044 $6,572,190 $330,375 $1,585,793 $0 $95,444 $557,324 $9,141,126 $147,042,669
24 2044 2044 2045 $6,636,598 $333,612 $1,617,509 $0 $97,353 $568,470 $9,253,542 $156,296,211
25 2045 2045 2046 $6,701,636 $336,882 $1,649,859 $0 $99,300 $579,839 $9,367,517 $165,663,727
26 2046 2046 2047 $6,767,312 $340,183 $1,682,856 $0 $101,286 $591,436 $9,483,074 $175,146,801
27 2047 2047 2048 $6,833,632 $343,517 $1,716,513 $0 $103,312 $603,265 $9,600,239 $184,747,040
28 2048 2048 2049 $6,900,602 $346,884 $1,750,844 $0 $105,378 $615,330 $9,719,037 $194,466,077
29 2049 2049 2050 $6,968,228 $350,283 $1,785,861 $0 $107,485 $627,637 $9,839,493 $204,305,571
30 2050 2050 2051 $7,036,516 $353,716 $1,821,578 $0 $109,635 $627,637 $9,949,082 $214,254,652
Total for years 1-30 $148,689,955 •$7,362,776 $36,500,301 $6,115,670 $2,158,220 $13,427,730 $214,254,652
Column as%of all tax benefits to City 69% 3% 17% 3% 1% 6% 100%
Schedule C
Schedule 2:
Annual Development and Estimated Taxable Real Property Values Added
by The Farm, in 2019 Dollars
Notes:
Building types,dwelling units,gross floor areas,and completion years are the developer's May 2020 buildout plan,subject to change.
Value added(to land or improvements)per square foot of GFA are estimates by Stein Planning,based on 2019 taxable values of comparable properties.Values are expressed
in 2019 dollars.They are adjusted for net inflation and depreciation in subsequent schedules.Value added excludes Collin CAD"market"value of land in 2019.
If gross floor area is not provided by the developer for multi-family residential or hotel buildings,mean GFA per unit for comparable buildings in that category is assumed.
Land parcels to be dedicated for park or open space use have not been assigned additional value.
Values assume timely market absorption of planned development.This is not an opinion by Stein Planning of probable market absorption.
For a single-family residence,estimated taxable value added per home is the developer's estimated mean selling price minus the approximate Collin CAD 2019 gross land appraisal.
(a) (b) (c) (d) (e) (f) (9) (h) (I) 0) (k) (I) (m) (n) (o)
Value Added Year construction is complete and building is assumed occupied.Value is added next Jan.1. Total Total Taxable
Building Category per SF 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Sq.Ft. Value Added
Office buildings(4 stories or fewer)
Square feet of gross floor area 0 100,000 10,000 10,000 0 10,000 0 100,000 0 0 0 230,000
Taxable value added $210 $0 $21,000,000 $2,100,000 $2,100,000 $0 $2,100,000 $0 $21,000,000 $0 $0 $0 $48,300,000
Office buildings(more than 4 stories)
Square feet of gross floor area 0 0 0 150,000 150,000 350,000 200,000 0 200,000 150,000 250,000 1,450,000
Taxable value added $290 $0 $0 $0 $43,500,000 $43,500,000 $101,500,000 $58,000,000 $0 $58,000,000 $43,500,000 $72,500,000 $420,500,000
Retail or restaurant buildings
Square feet of gross floor area 0 50,500 0 119,500 0 0 0 10,000 7,000 15,000 0 202,000
Taxable value added $210 $0 $10,605,000 $0 $25,095,000 $0 $0 $0 $2,100,000 $1,470,000 $3,150,000 $0 $42,420,000
Hotels with 150 or fewer guest units
Guest units 0 0 150 0 0 0 0 0 0 0 0 150
Square feet of gross floor area 0 0 97,500 0 0 0 0 0 0 0 0 97,500
Taxable value added $100 $0 $0 $9,750,000 $0 $0 $0 $0 $0 $0 $0 $0 $9,750,000
Multi-family residential buildings(2 or 3 stories)
Dwellings 0 0 13 0 0 0 122 0 0 0 0 135
Square feet of gross floor area 0 0 12,675 0 0 0 118,950 0 0 0 0 131,625
Taxable value added $120 $0 $0 $1,521,000 $0 $0 $0 $14,274,000 $0 $0 $0 $0 $15,795,000
Multi-family residential buildings(4 to 6 stories)
Dwellings 0 0 294 306 390 266 320 248 218 223 0 2,265
Square feet of gross floor area 0 0 345,450 359,550 458,250 312,550 376,000 291,400 256,150 262,025 0 2,661,375 -
Taxable value added $130 $0 $0 $44,908,500 $46,741,500 $59,572,500 $40,631,500 $48,880,000 $37,882,000 $33,299,500 $34,063,250 $0 $345,978,750
Single family residences(patio or townhouse)
Dwellings 0 75 0 0 0 0 0 0 0 0 0 75
Mean taxable value added per home $352,000
Taxable value added $0 $26,400,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $26,400,000
All uses
Dwellings 0 75 307 306 390 266 442 248 218 223 0 2,475
Square feet of gross floor area,exc.single-family 0 150,500 465,625 639,050 608,250 672,550 694,950 401,400 463,150 427,025 250,000 4,772,500
Taxable value added $0 $58,005,000 $58,279,500 $117,436,500 $103,072,500 $144,231,500 $121,154,000 $60,982,000 $92,769,500 $80,713,250 $72,500,000 $909,143,750
Schedule C
Schedule 3:
Forecast of City Real Property Tax from The Farm
Notes:
This forecast assumes a development program proposed by the developer and taxable values estimated by Stein Planning,LLC.Those assumptions appear in a separate schedule.
In addition to taxable value increases for improvements,values are assumed to increase from the previous year's value by a percentage due to net inflation,appreciation and depreciation.
"Other Adjustments to Taxable Value Since Previous Year"assumes values of all parcels appraised for agricultural use revert to CCAD"market"value plus inflation in early 2022.
"Rollback"tax obligations from years before the loss of agricultural value status are not represented in this schedule.
Average 30-year nonresidential construction cost inflation is 3.5%.(Source:Ed Zarenski, "Construction Analytics 2020 Construction Economic Forecast,Jan.2020)
Annual value change rates are long-term average estimates.Actual value adjustments may vary significantly from year to year.
For simplicity,this schedule assumes all value added by improvements appears on the appraisal roll for the calendar year after construction is substantially complete.
The tax rate after 2019 is assumed to decline 1%annually,based on 30 years of history for the City of Allen.Actual rates will be set annually.
(a) (b) (c) (d) (e) (f) (g) (h) (i) (i) (k) (I) (m)
Taxable Taxable Value
Net Change Value from Other Taxable Added by Rea Property
to Taxable Previous Adjustments Value Added Completions Forecast Value Tax
Appraisal Property Value Year,Plus to Taxable to Appraisal This Year Total Assumed Growth Increment
Roll Tax Due Carried from Assumed Value Since Roll by New with Annual Taxable City Increment (Tax on
Value Without Previous Year Rate of Previous Construction Value Change Real Property Tax City (Value Value Growth
as of Penalty (Inflation and Annual Year This Year,in Since 2019 @ Property Rate Real Less Base Since
Year Jan.1, by Jan 31, Depreciation) Change (See note.) 2019 Dollars I 3.5% I Value per$100 Property Tax Year Value) Base Year)
-1 2019 2020 iaw::,___�_ _ .._«. _ .N- .r._:.':_.__�_ :_._ _- _ w._., ...t,w_ ,) $281,972 $0.489 $1,379 ;: : _ R_..: �._ ..:_.,_.,_, _:2'
Base 2020 2021 0.0% $281,972 $0 $0 $0 $281,972 $0.484 $1,365 $0 $0
1 2021 2022 0.0% $281,972 $0 $0 $0 $281,972 $0.479 $1,351 $0 $0
2 2022 2023 2.0% $287,611 $35,178,268 $0 $0 $35,465,880 $0.474 $168,277 $35,183,908 $166,939
3 2023 2024 2.0% $36,175,197 $0 $58,005,000 $66,562,072 $102,737,269 $0.470 $482,589 $102,455,297 $481,265
4 2024 2025 2.0% $104,792,014 $0 $58,279,500 $69,217,764 $174,009,779 $0.465 $809,205 $173,727,807 $807,894
5 2025 2026 2.0% $177,489,974 $0 $117,436,500 $144,359,443 $321,849,417 $0.460 $1,481,743 $321,567,445 $1,480,444
6 2026 2027 2.0% $328,286,406 $0 $103,072,500 $131,137,004 $459,423,410 $0.456 $2,093,960 $459,141,438 $2,092,675
7 2027 2028 2.0% $468,611,878 $0 $144,231,500 $189,925,343 $658,537,221 $0.451 $2,971,466 $658,255,249 $2,970,194
8 2028 2029 2.0% $671,707,965 $0 $121,154,000 $165,120,466 $836,828,431 $0.447 $3,738,196 $836,546,459 $3,736,936
9 2029 2030 2.0% $853,565,000 $0 $60,982,000 $86,021,134 $939,586,133 $0.442 $4,155,252 $939,304,161 $4,154,005
10 2030 2031 2.0% $958,377,856 $0 $92,769,500 $135,440,661 $1,093,818,517 $0.438 $4,788,961 $1,093,536,545 $4,787,726
11 2031 2032 2.0% $1,115,694,887 $0 $80,713,250 $121,963,262 $1,237,658,149 $0.433 $5,364,533 $1,237,376,177 $5,363,311
12 2032 2033 2.0% $1,262,411,312 $0 $72,500,000 $113,386,814 $1,375,798,127 $0.429 $5,903,657 $1,375,516,155 $5,902,447
13 2033 2034 2.0% $1,403,314,089 $0 $0 $0 $1,403,314,089 $0.425 $5,961,513 $1,403,032,117 $5,960,315
14 2034 2035 2.0% $1,431,380,371 $0 $0 $0 $1,431,380,371 $0.421 $6,019,935 $1,431,098,399 $6,018,750
15 2035 2036 2.0% $1,460,007,978 $0 $0 $0 $1,460,007,978 $0.416 $6,078,931 $1,459,726,006 $6,077,757
16 2036 2037 2.0% $1,489,208,138 $0 $0 $0 $1,489,208,138 $0.412 $6,138,504 $1,488,926,166 $6,137,342
17 2037 2038 2.0% $1,518,992,301 $0 $0 $0 $1,518,992,301 $0.408 $6,198,662 $1,518,710,329 $6,197,511
18 2038 2039 2.0% $1,549,372,147 $0 $0 $0 $1,549,372,147 $0.404 $6,259,409 $1,549,090,175 $6,258,269
19 2039 2040 2.0% $1,580,359,590 $0 $0 $0 $1,580,359,590 $0.400 $6,320,751 $1,580,077,618 $6,319,623
20 2040 2041 2.0% $1,611,966,781 $0 $0 $0 $1,611,966,781 $0.396 $6,382,694 $1,611,684,809 $6,381,578
21 2041 2042 2.0% $1,644,206,117 $0 $0 $0 $1,644,206,117 $0.392 $6,445,245 $1,643,924,145 $6,444,139
22 2042 2043 2.0% $1,677,090,239 $0 $0 $0 $1,677,090,239 $0.388 $6,508,408 $1,676,808,267 $6,507,314
23 2043 2044 2.0% $1,710,632,044 $0 $0 $0 $1,710,632,044 $0.384 $6,572,190 $1,710,350,072 $6,571,107
24 2044 2045 2.0% $1,744,844,685 $0 $0 $0 $1,744,844,685 $0.380 $6,636,598 $1,744,562,713 $6,635,525
25 2045 2046 2.0% $1,779,741,579 $0 $0 $0 $1,779,741,579 $0.377 $6,701,636 $1,779,459,607 $6,700,575
26 2046 2047 2.0% $1,815,336,410 $0 $0 $0 $1,815,336,410 $0.373 $6,767,312 $1,815,054,438 $6,766,261
27 2047 2048 2.0% $1,851,643,139 $0 $0 $0 $1,851,643,139 $0.369 $6,833,632 $1,851,361,167 $6,832,592
28 2048 2049 2.0% $1,888,676,001 $0 $0 $0 $1,888,676,001 $0.365 $6,900,602 $1,888,394,029 $6,899,572
29 2049 2050 2.0% $1,926,449,521 $0 $0 $0 $1,926,449,521 $0.362 $6,968,228 $1,926,167,549 $6,967,208
30 2050 2051 2.0% $1,964,978,512 $0 $0 $0 $1,964,978,512 $0.358 $7,036,516 $1,964,696,540 $7,035,507
Total for years 1-30 $35,178,268 $909,143,750 $1,223,133,963 $148,689,955 $148,654,778
Schedule C
Schedule 4:
Annual Development and Estimated Taxable Business Personal Property Values Added
by The Farm, in 2019 Dollars
Notes:
Business personal property is furnishings and equipment not treated as fixtures,also inventory.
BPP values per square foot of gross floor area are estimates by Stein Planning,based on typical taxable BPP on similar properties.
Building categories,floor areas and completion years are imported from the schedule of real property development.
Appraisal district practice is to value hotel property as real property.Audio-visual equipment is valued as BPP,but values are not materially significant.
BPP within residential properties is not typically materially significant.
(a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (I) (m) (n) (o)
Value Added Year construction is complete and building is assumed occupied.Value is added next Jan.1. Total Total Taxable
Building Category per SF of GFA 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Sq.Ft. Value Added
Office buildings(4 stories or fewer)
Square feet of gross floor area 0 100,000 10,000 10,000 0 10,000 0 100,000 0 0 0 230,000
Taxable value added $25 $0 $2,500,000 $250,000 $250,000 $0 $250,000 $0 $2,500,000 $0 $0 $0 $5,750,000
Office buildings(more than 4 stories)
Square feet of gross floor area 0 0 0 150,000 150,000 350,000 200,000 0 200,000 150,000 250,000 1,450,000
Taxable value added $25 $0 $0 $0 $3,750,000 $3,750,000 $8,750,000 $5,000,000 $0 $5,000,000 $3,750,000 $6,250,000 $36,250,000
Retail or restaurant buildings
Square feet of gross floor area 0 50,500 0 119,500 0 0 0 10,000 7,000 15,000 0 202,000
Taxable value added $35 $0 $1,767,500 $0 $4,182,500 $0 $0 $0 $350,000 $245,000 $525,000 $0 $7,070,000
Hotels with 150 or fewer guest units
Square feet of gross floor area 0 0 97,500 0 0 0 0 0 0 0 0 97,500
Taxable value added $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
All uses
Taxable value added $0 $4,267,500 $250,000 $8,182,500 $3,750,000 $9,000,000 $5,000,000 $2,850,000 $5,245,000 $4,275,000 $6,250,000 $49,070,000
Schedule C
Schedule 5:
Forecast of City Business Personal Property Tax from The Farm
Notes:
Business personal property is furnishings,equipment and inventory not treated as fixtures.
Taxable values in this schedule are forecasts by Stein Planning,LLC of values by the Collin Central Appraisal District,based
on a development program from the site developer.
Annual value change rates are long-term average estimates.Actual value adjustments may vary significantly from year to year.
The tax rate is assumed constant.Actual rates will be set annually.
Annual value change rates are long-term average estimates.Actual value adjustments may vary significantly from year to year.
(a) (b) (c) (d) (e) (f) (g) (h) (i) (1)
Taxable Taxable
Net Change Value from Taxable BPP Added
to Taxable Previous BPP Added in New
Appraisal Property Value Year,Plus in Newly Buildings Forecast Assumed
Roll Tax Due Carried from Assumed Completed If Annual Total City City
Value Without Previous Year Rate of Buildings Value Grows Taxable Property Tax Business
for Penalty (Inflation and Annual by Jan.1,in 3.0% BPP Rate Personal
Year Jan.1, by Jan 31, Depreciation) Change 2019 Dollars After 2019 Value per$100 Property Tax
$0 $0.489 $0
Base 2020 2021 2.0% $0 $0-$0_ $0 $0 $0.484 $0
1 2021 2022 2.0% $0 $0 $0 $0 $0.479 $0
2 2022 2023 2.0% $0 $0 $0 $0 $0.474 $0
3 2023 2024 2.0% $0 $4,267,500 $4,803,109 $4,803,109 $0.470 $22,562
4 2024 2025 2.0% $4,899,171 $250,000 $289,819 $5,188,990 $0.465 $24,131
5 2025 2026 2.0% $5,292,769 $8,182,500 $9,770,333 $15,063,102 $0.460 $69,348
6 2026 2027 2.0% $15,364,364 $3,750,000 $4,612,027 $19,976,391 $0.456 $91,048
7 2027 2028 2.0% $20,375,919 $9,000,000 $11,400,931 $31,776,850 $0.451 $143,384
8 2028 2029 2.0% $32,412,387 $5,000,000 $6,523,866 $38,936,253 $0.447 $173,932
9 . 2029 2030 2.0% $39,714,978 $2,850,000 $3,830,162 $43,545,140 $0.442 $192,575
10 2030 2031 2.0% $44,416,042 $5,245,000 $7,260,307 $51,676,349 $0.438 $226,250
11 2031 2032 2.0% $52,709,876 $4,275,000 $6,095,128 $58,805,004 $0.433 $254,886
12 2032 2033 2.0% $59,981,104 $6,250,000 $9,178,336 $69,159,439 $0.429 $296,769
13 2033 2034 2.0% $70,542,628 $0 $0 $70,542,628 $0.425 $299,677
14 2034 2035 2.0% $71,953,481 $0 $0 $71,953,481 $0.421 $302,614
15 2035 2036 2.0% $73,392,550 $0 $0 $73,392,550 $0.416 $305,579
16 2036 2037 2.0% $74,860,401 $0 $0 $74,860,401 $0.412 $308,574
17 2037 2038 2.0% $76,357,610 $0 $0 $76,357,610 $0.408 $311,598
18 2038 2039 2.0% $77,884,762 $0 $0 $77,884,762 $0.404 $314,652
19 2039 2040 2.0% $79,442,457 $0 $0 $79,442,457 $0.400 $317,735
20 2040 2041 2.0% $81,031,306 $0 $0 $81,031,306 $0.396 $320,849
21 2041 2042 2.0% $82,651,932 $0 $0 $82,651,932 $0.392 $323,993
22 2042 2043 2.0% $84,304,971 $0 $0 $84,304,971 $0.388 $327,169
23 2043 2044 2.0% $85,991,070 $0 $0 $85,991,070 $0.384 $330,375
24 2044 2045 2.0% $87,710,892 $0 $0 $87,710,892 $0.380 $333,612
25 2045 2046 2.0% $89,465,109 $0 $0 $89,465,109 $0.377 $336,882
26 2046 2047 2.0% $91,254,412 $0 $0 $91,254,412 $0.373 $340,183
27 2047 2048 2.0% $93,079,500 $0 $0 $93,079,500 $0.369 $343,517
28 2048 2049 2.0% $94,941,090 $0 $0 $94,941,090 $0.365 $346,884
29 2049 2050 2.0% $96,839,912 $0 $0 $96,839,912 $0.362 $350,283
30 2050 2051 2.0% $98,776,710 $0 $0 $98,776,710 $0.358 $353,716
Total for years 1-30 $49,070,000 $63,764,016 $7,362,776
Schedule C
Schedule 6:
Forecast of Annual City Sales Tax and Mixed Beverage Tax Receipts
From The Farm, Except Sales Tax on Construction Materials and Hotel Taxes on Food and Beverages
Notes:
This forecast assumes completion of retail or restaurant floor area as presented in the schedule of real property development.
The forecast excludes sales tax on materials used for construction at The Avenue.Sales tax on construction materials is presented in a separate schedule.
Taxable sales per square foot vary significantly with tenant mix.A few select high-end store brands sell more than$1,000 per square foot,but community retail centers with a tenant mix of clinics,offices,salons
and retail stores may average$150 of taxable sales per square foot.A retail center without a major grocery and with a 50-50 mix of successful stores and restaurants might average$200 to$400
of taxable sales per square foot. -
Food for home preparation,medications and many other items are exempt from Texas sales tax.The sales volume assumption per square foot recognizes such exemptions.
Stores and restaurants may operate months before their completed floor area is added to the appraisal roll.This schedule assumes no sales volumes for partial-year operation before premises are added to the
property appraisal roll.Instead,the next year's sales volume represents sales volume for a fully stabilized year.
Alcoholic beverages sold in Texas restaurants and hotels are subject to two State mixed beverage taxes,but not regular sales tax.Texas grants municipalities approximately-1.6%of the sales volume subject to
mixed beverage taxes.
(a) (b) (c) (d) (e) (f) (9) (h) (i) (j) (k) (I) (m) (n) (o) (P) (q)
Appear on State Grant
Buildings Property City Taxable Sales Volume,with City Sales Tax Components of Approx.
Completed Appraisal Receives Cumulative Square Feet Annual Inflation After 2019 @ "Mixed Beverage" (No Tax on"Mixed Beverage"Items) I $0.016
During Roll Sales Sales and of Gross Floor Area, I 2% Sales,If Economic Economic per$1 of
Year Value in Year Mixed If Retail/Restaurant Mix Is Retail Stores i Restaurants @ 15% I General @ Dev.(4A)@ Dev.(4B)@ Total @ Mixed Cumulative
Ended for Ended Bev.Tax I 70% I 30% I $200 I $400 of Restaurant $0.01 $0.005 $0.005 $0.02 •Beverage Sum of Sum of
Year Dec.31, Jan.1, Dec.31, by Mid- Retail Stores Restaurants per SF,in 2019 Dollars Volume per$1 per$1 per$1 per$1 Sales Receipts Receipts
Base 2019 2020 2020 2021 0 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
1 2020 2021 2021 2022 0 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
2 2021 2022 2022 2023 0 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
3 2022 2023 2023 2024 35,350 0 $7,652,795 $0 $0 $76,528 $38,264 $38,264 $153,056 $0 $153,056 $153,056
4 2023 2024 2024 2025 35,350 15,150 $7,805,851 $6,824,544 $1,023,682 $136,067 $68,034 $68,034 $272,134 $16,379 $288,513 $441,569
5 2024 2025 2025 2026 119,000 15,150 $26,802,666 $6,961,035 $1,044,155 $327,195 $163,598 $163,598 $654,391 $16,706 $671,097 $1,112,666
6 2025 2026 2026 2027 119,000 51,000 $27,338,719 $23,901,851 $3,585,278 $476,553 $238,276 $238,276 $953,106 $57,364 $1,010,470 $2,123,137
7 2026 2027 2027 2028 119,000 51,000 $27,885,493 $24,379,888 $3,656,983 $486,084 $243,042 $243,042 $972,168 $58,512 $1,030,680 $3,153,816
8 2027 2028 2028 2029 119,000 51,000 $28,443,203 $24,867,486 $3,730,123 $495,806 $247,903 $247,903 $991,611 $59,682 $1,051,293 $4,205,110
9 2028 2029 2029 2030 126,000 51,000 $30,718,659 $25,364,836 $3,804,725 $522,788 $261,394 $261,394 $1,045,575 $60,876 $1,106,451 $5,311,561
10 2029 2030 2030 2031 130,900 54,000 $32,551,539 $27,394,023 $4,109,103 $558,365 $279,182 $279,182 $1,116,729 $65,746 $1,182,475 $6,494,036
11 2030 2031 2031 2032 141,400 56,100 $35,865,878 $29,028,533 $4,354,280 $605,401 $302,701 $302,701 $1,210,803 $69,668 $1,280,471 $7,774,507
12 2031 2032 2032 2033 141,400 60,600 $36,583,196 $31,984,165 $4,797,625 $637,697 $318,849 $318,849 $1,275,395 $76,762 $1,352,157 $9,126,663
13 2032 2033 2033 2034 141,400 60,600 $37,314,859 $32,623,849 $4,893,577 $650,451 $325,226 $325,226 $1,300,903 $78,297 $1,379,200 $10,505,863
14 2033 2034 2034 2035 141,400 60,600 $38,061,157 $33,276,325 $4,991,449 $663,460 $331,730 $331,730 $1,326,921 $79,863 $1,406,784 $11,912,647
15 2034 2035 2035 2036 141,400 60,600 $38,822,380 $33,941,852 $5,091,278 $676,730 $338,365 $338,365 $1,353,459 $81,460 $1,434,920 $13,347,567
16 2035 2036 2036 2037 141,400 60,600 $39,598,827 $34,620,689 $5,193,103 $690,264 $345,132 $345,132 $1,380,528 $83,090 $1,463,616 $14,811,185
17 2036 2037 2037 2038 141,400 60,600 $40,390,804 $35,313,103 $5,296,965 $704,069 $352,035 $352,035 $1,408,139 $84,751 $1,492,890 $16,304,075
18 2037 2038 2038 2039 141,400 60,600 $41,198,620 $36,019,365 $5,402,905 $718,151 $359,075 $359,075 $1,436,302 $86,446 $1,522,748 $17,826,823
19 2038 2039 2039 2040 141,400 60,600 $42,022,592 $36,739,752 $5,510,963 $732,514 $366,257 $366,257 $1,465,028 $88,175 $1,553,203 $19,380,026
20 2039 2040 2040 2041 141,400 60,600 $42,863,044 $37,474,547 $5,621,182 $747,164 $373,582 $373,582 $1,494,328 $89,939 $1,584,267 $20,964,293
21 2040 2041 2041 2042 141,400 60,600 $43,720,305 $38,224,038 $5,733,606 $762,107 $381,054 $381,054 $1,524,215 $91,738 $1,615,952 $22,580,245
22 2041 2042 2042 2043 141,400 60,600 $44,594,711 $38,988,519 $5,848,278 $777,350 $388,675 $388,675 $1,554,699 $93,572 $1,648,271 $24,228,517
23 2042 2043 2043 2044 141,400 60,600 $45,486,605 $39,768,289 $5,965,243 $792,897 $396,448 $396,448 $1,585,793 $95,444 $1,681,237 $25,909,754
24 2043 2044 2044 2045 141,400 60,600 $46,396,338 $40,563,655 $6,084,548 $808,754 $404,377 $404,377 $1,617,509 $97,353 $1,714,862 $27,624,616
25 2044 2045 2045 2046 141,400 60,600 $47,324,264 $41,374,928 $6,206,239 $824,930 $412,465 $412,465 $1,649,859 $99,300 $1,749,159 $29,373,774
26 2045 2046 2046 2047 141,400 60,600 $48,270,750 $42,202,427 $6,330,364 $841,428 $420,714 $420,714 $1,682,856 $101,286 $1,784,142 $31,157,917
27 2046 2047 2047 2048 141,400 60,600 $49,236,165 $43,046,475 $6,456,971 $858,257 $429,128 $429,128 $1,716,513 $103,312 $1,819,825 $32,977,741
28 2047 2048 2048 2049 141,400 60,600 $50,220,888 $43,907,405 $6,586,111 $875,422 $437,711 $437,711 $1,750,844 $105,378 $1,856,221 $34,833,963
29 2048 2049 2049 2050 141,400 60,600 $51,225,306 $44,785,553 $6,717,833 $892,930 $446,465 $446,465 $1,785,861 $107,485 $1,893,346 $36,727,309
30 2049 2050 2050 2051 141,400 60,600 $52,249,812 $45,681,264 $6,852,190 $910,789 $455,394 $455,394 $1,821,578 $109,635 $1,931,213 $38,658,521
Total for years 1-30 $1,060,645,426 $899,258,398 $134,888,760 $18,250,151 $9,125,075 $9,125,075 $36,500,301 $2,158,220 $38,658,521
Schedu
Schedule 7:
Forecast of City Sales Tax on Construction Materials Used at The Farm
Notes:
This forecast assumes the development program area presented in the schedule of real property development.
Municipal sales tax calculated by this schedule is a forecast of tax that meets two conditions: 1)The tax is on construction materials that are bought for the purpose of
construction within The Farm;2)The point of sale is coded to an address in The Farm site by vendor and State records.
For simplicity,materials are assumed bought in the calendar year when a building is assumed complete.Some purchases will occur in years before completion.
Annual taxable values(with inflation)added are imported from a separate schedule.Those values are factored by 1.3 after importation to this schedule to produce a more
accurate representation of actual costs of site and structure improvement.
(a) (b) (c) (d) (e) (f) (9) (h) (i) (I) (k) (I) (m)
Value Added Approximate Value of
Buildings Property Construction to Appraisal Roll Hard Cost Construction City Sales Tax Receipts from Construction Materials
Completed Value Materials by Completions of Construction, Hard Cost Delivered to The Farm
During Added to Purchased City through Jan. 1, Assuming= Paying Sales Tax Economic Economic
Year Appraisal in Year Receives With Inflation Appraised Value Credited to General @ Dev.(4A)@ Dev.(4B)@ Cumulative
Ended Roll for Ended Sales Tax (from separate Added x Site Address, If $0.01 $0.005 $0.005 Sum of Sum of
Year Dec.31, Jan.1, Dec.31, by Mid- schedule) I 1.25 I 20% I per$1 per$1 per$1 Receipts Receipts
Base 2019 2020 2020 2021 $0 $0 $0 $0 $0 $0 $0 $0
1 2020 2021 2021 2022 $0 $0 $0 $0 $0 $0 $0 $0
2 2021 2022 2022 2023 $66,562,072 $83,202,590 $16,640,518 $166,405 $83,203 $83,203 $332,810 $332,810
3 2022 2023 2023 2024 $69,217,764 $86,522,205 $17,304,441 $173,044 $86,522 $86,522 $346,089 $678,899
4 2023 2024 2024 2025 $144,359,443 $180,449,304 $36,089,861 $360,899 $180,449 $180,449 $721,797 $1,400,696
5 2024 2025 2025 2026 $131,137,004 $163,921,255 $32,784,251 $327,843 $163,921 $163,921 $655,685 $2,056,381
6 2025 2026 2026 2027 $189,925,343 $237,406,678 $47,481,336 $474,813 $237,407 $237,407 $949,627 $3,006,008
7 2026 2027 2027 2028 $165,120,466 $206,400,582 $41,280,116 $412,801 $206,401 $206,401 $825,602 $3,831,610
8 2027 2028 2028 2029 $86,021,134 $107,526,417 $21,505,283 $215,053 $107,526 $107,526 $430,106 $4,261,716
9 2028 2029 2029 2030 $135,440,661 $169,300,826 $33,860,165 $338,602 $169,301 $169,301 $677,203 $4,938,919
10 2029 2030 2030 2031 $121,963,262 $152,454,078 $30,490,816 $304,908 $152,454 $152,454 $609,816 $5,548,736
11 2030 2031 2031 2032 $113,386,814 $141,733,518 $28,346,704 $283,467 $141,734 $141,734 $566,934 $6,115,670
12 2031 2032 2032 2033 $0 $0 $0 $0 $0 $0 $0 $6,115,670
13 2032 2033 2033 2034 $0 $0 $0 $0 $0 $0 $0 $6,115,670
14 2033 2034 2034 2035 $0 $0 $0 $0 $0 $0 $0 $6,115,670
15 2034 2035 2035 2036 $0 $0 $0 $0 $0 $0 $0 $6,115,670
16 2035 2036 2036 2037 $0 $0 $0 $0 $0 $0 $0 $6,115,670
17 2036 2037 2037 2038 $0 $0 $0 $0 $0 $0 $0 $6,115,670
18 2037 2038 2038 2039 $0 $0 $0 $0 $0 $0 $0 $6,115,670
19 2038 2039 2039 2040 $0 $0 $0 $0 $0 $0 $0 $6,115,670
20 2039 2040 2040 2041 $0 $0 $0 $0 $0 $0 $0 $6,115,670
21 2040 2041 2041 2042 $0 $0 $0 $0 $0 $0 $0 $6,115,670
22 2041 2042 2042 2043 $0 $0 $0 $0 $0 $0 $0 $6,115,670
23 2042 2043 2043 2044 $0 $0 $0 $0 $0 $0 $0 $6,115,670 .
24 2043 2044 2044 2045 $0 $0 $0 $0 $0 $0 $0 $6,115,670
25 2044 2045 2045 2046 $0 $0 $0 $0 $0 $0 $0 $6,115,670
26 2045 2046 2046 2047 $0 $0 $0 $0 $0 $0 $0 $6,115,670
27 2046 2047 2047 2048 $0 $0 $0 $0 $0 $0 $0 $6,115,670
28 2047 2048 2048 2049 $0 $0 $0 $0 $0 $0 $0 $6,115,670
29 2048 2049 2049 2050 $0 $0 $0 $0 $0 $0 $0 $6,115,670
30 2049 2050 2050 2051 $0 $0 $0 $0 $0 $0 $0 $6,115,670
Total for years 1-30 $1,223,133,963 $1,528,917,453 $305,783,491 $3,057,835 $1,528,917 $1,528,917 $6,115,670
MI
Schedule C
Schedule 8:
Forecast of Hotel Guest Room Sales Subject to Hotel Occupancy Tax at The Farm
and City Hotel Occupancy Tax
Notes:
RevPAR is a hotel industry term for"revenue per available room."It's total annual hotel revenue from room sales divided by the number of guest rooms.
Hotel occupancy tax("HOT")is a tax on guest room sales(rentals),but not food or beverage service or other hotel charges.Some room purchases are exempt from HOT.
Annual estimates of RevPAR subject to HOT are based on taxable revenue data and guest room counts from the Texas Comptroller of Public Accounts.
Commencement of hotel operation is assumed on Jan.1 of the year following assumed completion.An earlier or later start will impact revenue and tax.
Hotel occupancy tax flows to a dedicated fund for restricted purposes,including conference centers,events and facilities that increase hotel stays in Allen and promotion of Allen
as a conference and tourism destination.
(a) (b) (c) (d) (e) (f (9) (h) (I) 0) (k) 0) (m) (n) (o) (p) (q) (r) (s)
On
Hotel Property Guest City Hotel#1 Hotel#2 Hotel#3
Completed Appraisal Room Receives RevPAR Subject to HOT(2019$s):1 $33,000 RevPAR Subject to HOT(2019$s):l $0 RevPAR Subject to HOT(2019$s)i $0 Total
During Roll Sales Hotel With Stabilized Sales With Stabilized Sales With Stabilized Sales Sales City Hotel
Year Value in Year Occupancy{ 2% I Hotel Subject to I 2% I Hotel Subject to { 2% 1 Hotel Subject to Subject to Occupancy
Ended for Ended Tax Annual Inflation Guest Occupancy HOT Annual Inflation Guest Occupancy HOT Annual Inflation Guest Occupancy HOT HOT Tax @
Year Dec.31, Jan.1, Dec.31, by Mid- After 2019 Rooms This Year This Year After 2019 Rooms This Year This Year After 2019 Rooms This Year This Year This Year I 7%
Base 2019 2020 2020 2021 $33,660 0 0% $0 $0 0 0% $0 $0 0 0%
$0 $0 $0
1 2020 2021 2021 2022 $34,333 0 0% 0% 0%
$0 $0 0 $0 $0 0 $0 $0 $0
2 2021 2022 2022 2023 $35,020 0 0% $0 $0 0 0% $0 $0 0 0% $0 $0 $0
3 2022 2023 2023 2024 $35,720 0 0% $0 $0 0 0% $0 $0 0 0% $0 $0 $0
4 2023 2024 2024 2025 $36,435 150 88% $4,609,376 $0 0 0% $0 $0 0 0% $0 $4,809,376 $336,656
5 2024 2025 2025 2026 $37,163 150 93% $5,184,289 $0 0 0% $0 $0 0 0% $0 $5,184,289 $362,900
6 2025 2026 2026 2027 $37,907 150 98% $5,572,274 $0 0 0% $0 $0 0 0% $0 $5,572,274 $390,059
7 2026 2027 2027 2028 $38,665 150 100% $5,799,714 $0 0 88% $0 $0 0 0% $0 $5,799,714 $405,980
8 2027 2028 2028 2029 $39,438 150 100% $5,915,708 $0 0 93% $0 $0 0 88% $0 $5,915,708 $414,100
9 2028 2029 2029 2030 $40,227 150 100% $6,034,022 $0 0 98% $0 $0 0 93% $0 $6,034,022 $422,382
10 2029 2030 2030 2031 $41,031 150 100% $6,154,703 $0 0 100% $0 $0 0 98% $0 $6,154,703 $430,829
11 2030 2031 2031 2032 $41,852 150 100% $6,277,797 $0 0 100% $0 $0 0 100% $0 $6,277,797 $439,446
12 2031 2032 2032 2033 $42,689 150 100% $6,403,353 $0 0 100% $0 $0 0 100% $0 $6,403,353 $448,235
13 2032 2033 2033 2034 $43,543 150 100% $6,531,420 $0 0 100% $0 $0 0 100% $0 $6,531,420 $457,199
14 2033 2034 2034 2035 $44,414 150 100% $6,662,048 $0 0 100% $0 $0 0 100% $0 $6,662,048 $466,343
15 2034 2035 2035 2036 $45,302 150 100% $6,795,289 $0 0 100% $0 $0 0 100% $0 $6,795,289 $475,670
16 2035 2036 2036 2037 $46,208 150 100% $6,931,195 $0 0 100% $0 $0 0 100% $0 $6,931,195 $485,184
17 2036 2037 2037 2038 $47,132 150 100% $7,069,819 $0 0 100% $0 $0 0 100% $0 $7,069,819 $494,887
18 2037 2038 2038 2039 $48,075 150 100% $7,211,215 $0 0 100% $0 $0 0 100% $0 $7,211,215 $504,785
19 2038 2039 2039 2040 $49,036 150 100% $7,355,440 $0 0 100% $0 $0 0 100% $0 $7,355,440 $514,881
20 2039 2040 2040 2041 $50,017 150 100% $7,502,548 $0 0 100% $0 $0 0 100% $0 $7,502,548 $525,176
21 2040 - 2041 2041 2042 $51,017 150 100% $7,652,599 $0 0 100% $0 $0 0 100% $0 $7,652,599 $535,682
22 2041 2042 2042 2043 $52,038 150 100% $7,805,651 $0 0 100% $0 $0 0 100% $0 $7,805,651 $546,396
23 2042 2043 2043 2044 $53,078 150 100% $7,961,764 $0 0 100% $0 $0 0 100% $0 $7,961,764 $557,324
24 2043 2044 2044 2045 $54,140 150 100% $8,121,000 $0 0 100% $0 $0 0 100% $0 $8,121,000 $568,470
25 2044 2045 2045 2046 $55,223 150 100% $8,283,420 $0 0 100% $0 $0 0 100% $0 $8,263,420 $579,839
26 2045 2046 2046 2047 $56,327 150 100% $8,449,088 $0 0 100% $0 $0 0 100% $0 $8,449,088 $591,436
27 2046 2047 2047 2048 $57,454 150 100% $8,618,070 $0 0 100% $0 $0 0 100% $0 $8,618,070 $603,265
28 2047 2048 2048 2049 $58,603 150 100% $8,790,431 $0 0 100% $0 $0 0 100% $0 $8,790,431 $615,330
29 2048 2049 2049 2050 $59,775 150 100% $8,966,240 $0 0 100% $0 $0 0 100% $0 $8,966,240 $627,637
30 2046 2049 2049 2050 $59,775 150 100% $8,966,240 $0 0 100% $0 $0 0 100% $0 $8,966,240 $627,637
Total for years 1-30 ########## $0 $0 $191,824,714 $13,427,730
r
Schedule C
Schedule 9:
Forecast of Sales Tax and State Grant to City of Mixed Beverage Taxes
Earned at a Full-Service Hotel at The Farm
Notes:
This schedule is irrelevant for The Farm.The site does not include a hotel with more than 150 rooms.Sales and beverage taxes are not expected to be significant.
"HOT"stands for hotel occupancy tax,a tax on guest room sales only.Sales or mixed beverage taxes apply to food,beverages and other items not subject to HOT.
Alcoholic beverages sold in Texas restaurants and hotels are subject to two State mixed beverage taxes,but not regular sales tax.Texas grants municipalities
approximately 1.6%of the sales volume subject to mixed beverage taxes.
Commencement of hotel operation is assumed on Jan.1 of the year following assumed completion.An earlier or later start will impact revenue and tax.
Limited service hotels generally do not generate material volumes of sales tax or mixed beverage tax.
(a) (b) (c) (d) (e) (f) (9) (h) (i) G) (k) (I) (m)
On Sales Hotel#3 "Mixed State Grant
Hotel Property Guest City Subject to Food and Beverage" Components of City Sales Tax on Food and of Approx.
Completed Appraisal Room HOT Beverage Sales,If= Beverages Subject to Regular Sales Tax I $0.016
During Roll Sales from Full- Sales,If= 25% I Economic Economic per$1 of
Year Value in Year City Service Hotell 45% of Total General @ Dev.(4A)@ Dev.(4B)@ Total @ Mixed
Ended for Ended Receives (from hotel of Sales Food and $0.01 $0.005 $0.005 $0.02 Beverage
Year Dec.31, Jan. 1, Dec.31, by Mid- schedule) Subject to HOT Beverage per$1 per$1 per$1 per$1 Sales
Base 2019 2020 2020 2021 $0 $0 $0 $0 $0 $0 $0 $0
1 2020 2021 2021 2022 $0 $0 $0 $0 $0 $0 $0 $0
2 2021 2022 2022 2023 $0 $0 $0 $0 $0 $0 $0 $0
3 2022 2023 2023 2024 $0 $0 $0 $0 $0 $0 $0 $0
4 2023 2024 2024 2025 $0 $0 $0 $0 $0 $0 $0 $0
5 2024 2025 2025 2026 $0 $0 $0 $0 $0 $0 $0 $0
6 2025 2026 2026 2027 $0 $0 $0 $0 $0 $0 $0 $0
7 2026 2027 2027 2028 $0 $0 $0 $0 $0 $0 $0 $0
8 2027 2028 2028 2029 $0 $0 $0 $0 $0 $0 $0 $0
9 2028 2029 2029 2030 $0 $0 $0 $0 $0 $0 $0 $0
10 2029 2030 2030 2031 $0 $0 $0 $0 $0 $0 $0 $0
11 2030 2031 2031 2032 $0 $0 $0 $0 $0 $0 $0 $0
12 2031 2032 2032 2033 $0 $0 $0 $0 $0 $0 $0 $0
13 2032 2033 2033 2034 $0 $0 $0 $0 $0 $0 $0 $0
14 2033 2034 2034 2035 $0 $0 $0 $0 $0 $0 $0 $0
15 2034 2035 2035 2036 $0 $0 $0 $0 $0 $0 $0 $0
16 2035 2036 2036 2037 $0 $0 $0 $0 $0 $0 $0 $0
17 2036 2037 2037 2038 $0 $0 $0 $0 $0 $0 $0 $0
18 2037 2038 2038 2039 $0 $0 $0 $0 $0 $0 $0 $0
19 2038 2039 2039 2040 $0 $0 $0 $0 $0 $0 $0 $0
20 2039 2040 2040 2041 $0 $0 $0 $0 $0 $0 $0 $0
21 2040 2041 2041 2042 $0 $0 $0 $0 $0 $0 $0 $0
22 2041 2042 2042 2043 $0 $0 $0 $0 $0 $0 $0 $0
23 2042 2043 2043 2044 $0 $0 $0 $0 $0 $0 $0 $0
24 2043 2044 2044 2045 $0 $0 $0 $0 $0 $0 $0 $0
25 2044 2045 2045 2046 $0 $0 $0 $0 $0 $0 $0 $0
26 2045 2046 2046 2047 $0 $0 $0 $0 $0 $0 $0 $0
27 2046 2047 2047 2048 $0 $0 $0 $0 $0 $0 $0 $0
28 2047 2048 2048 2049 $0 $0 $0 $0 $0 $0 $0 $0
29 2048 2049 2049 2050 $0 $0 $0 $0 $0 $0 $0 $0
30 2048 2049 2049 2050 $0 $0 $0 $0 $0 $0 $0 $0
Total for years 1-30 $0 $0 $0 $0 $0 $0 $0 $0
MI 1M
Schedule C
Appendix 1:
2019 Values of The Farm Site, per Collin Central Appraisal District
(a) (b) (c) (d) (e) (f) (9) (h) (i) (i) (k)
Collin CAD Collin CAD Market Values Taxed Value
Property ID Site Address Owner of Record Acres Sq. Ft. Improvements Land Total Land/Sq. Ft. Value Adjusted for
513206 State Highway 121 Johnson Centre, Ltd. 1.000 43,560 $0 $261,360 $261,360 $6.00 $261,360
2138577 State Highway 121 Johnson Centre, Ltd. 6.759 294,422 $0 $995,520 $995,520 $3.38 $1,108 ag value
2138579 State Highway 121 Johnson Centre, Ltd. 16.206 705,933 $0 $4,588,567 $4,588,567 $6.50 $2,658 ag value
2138581 State Highway 121 Johnson Centre, Ltd. 4.100 178,596 $0 $1,160,874 $1,160,874 $6.50 $672 ag value
2138583 State Highway 121 Johnson Centre, Ltd. 8.600 374,616 $0 $2,435,004 $2,435,004 $6.50 $1,410 ag value
2138585 State Highway 121 Johnson Centre, Ltd. 9.800 426,888 $0 $2,774,772 $2,774,772 $6.50 $1,607 ag value
2509563 Johnson Centre, Ltd. 26.091 1,136,537 $0 $3,454,706 $3,454,706 $3.04 $2,870 ag value
2551211 Johnson Centre, Ltd. 8.449 368,043 $0 $2,392,278 $2,392,278 $6.50 $1,386 ag value
2674486 Johnson Centre, Ltd. 3.960 172,498 $0 $1,121,234 $1,121,234 $6.50 $649 ag value
2674488 Johnson Centre, Ltd. 50.318 2,191,835 $0 $14,246,925 $14,246,925 $6.50 $8,252 ag value
Total or Mean 135.2830 5,892,927 $0 $33,431,240 $33,431,240 $5.67 $281,972
2019 assessed value shrinkage due to agricultural valuation: $33,149,268
Schedule C
Summary Forecast:
Collin County Tax Revenue from The Farm
Notes:
This schedule includes real and business personal property.
Taxable property values mirror a forecast of values taxed by the City of Allen.Slight differences in exemption and abatement policies will slightly impact actual receipts.
Construction completed in a calendar year is not appraised as complete until the next calendar year.Accelerated or delayed completions will impact annual appraisal and tax.
The forecast assumes a 1%annual decline in the County assessment rate after 2019.
Phase 1 receipts reflect only construction assumed complete by December 31,2023.
(a) (b) (c) (d) (e) (f) (9) (h) (I) (1) (k) (I)
Property Tax Forecast,All Phases of Development Phase 1 Only
Total (Values calculated
Appraisal Property Total Taxable Assumed in a separate schedule)
Roll Tax Due Taxable Business County County Total Cumulative Total Cumulative
Value Without Real Personal Property Tax County Business Annual Total Annual Total
as of Penalty Property Property Rate Real Personal Property Tax Property Tax Property Tax Property Tax
Year Jan. 1, by Jan 31, Value Value per$100 Property Tax Property Tax Receipts Receipts Receipts Receipts
-1 2019 2020 $281,972 $0 $0.174951 $493 $0 $493z $493
Base 2020 2021 $281,972 $0 $0.173201 $488 $0 $488 F z _ $488
1 2021 2022 $281,972 $0 $0.171469 $483 $0 $483 $483 $483 $483
2 2022 2023 $35,465,880 $0 $0.169755 $60,205 $0 $60,205 $60,689 $60,205 $60,689
3 2023 2024 $102,737,269 $4,803,109 $0.168057 $172,657 $8,072 $180,729 $241,418 $180,729 $241,418
4 2024 2025 $174,009,779 $5,188,990 $0.166377 $289,512 $8,633 $298,145 $539,563 $298,145 $539,563
5 2025 2026 $321,849,417 $15,063,102 $0.164713 $530,127 $24,811 $554,938 $1,094,501 $301,067 $840,630
6 2026 2027 $459,423,410 $19,976,391 $0.163066 $749,162 $32,575 $781,737 $1,876,238 $304,017 $1,144,647
7 2027 2028 $658,537,221 $31,776,850 $0.161435 $1,063,110 $51,299 $1,114,409 $2,990,647 $306,997 $1,451,643
8 2028 2029 $836,828,431 $38,936,253 $0.159821 $1,337,426 $62,228 $1,399,654 $4,390,301 $310,005 $1,761,648
9 2029 2030 $939,586,133 $43,545,140 $0.158223 $1,486,637 $68,898 $1,555,535 $5,945,836 $313,043 $2,074,692
10 2030 2031 $1,093,818,517 $51,676,349 $0.156640 $1,713,361 $80,946 $1,794,307 $7,740,143 $316,111 $2,390,803
11 2031 2032 $1,237,658,149 $58,805,004 $0.155074 $1,919,285 $91,191 $2,010,476 $9,750,620 $319,209 $2,710,012
12 2032 2033 $1,375,798,127 $69,159,439 $0.153523 $2,112,169 $106,176 $2,218,345 $11,968,964 $322,337 $3,032,349
13 2033 2034 $1,403,314,089 $70,542,628 $0.151988 $2,132,868 $107,216 $2,240,085 $14,209,049 $325,496 $3,357,845
14 2034 2035 $1,431,380,371 $71,953,481 $0.150468 $2,153,770 $108,267 $2,262,037 $16,471,086 $328,686 $3,686,531
15 2035 2036 $1,460,007,978 $73,392,550 $0.148963 $2,174,877 $109,328 $2,284,205 $18,755,292 $331,907 $4,018,438
16 2036 2037 $1,489,208,138 $74,860,401 $0.147474 $2,196,191 $110,399 $2,306,591 $21,061,882 $335,160 $4,353,597
17 2037 2038 $1,518,992,301 $76,357,610 $0.145999 $2,217,714 $111,481 $2,329,195 $23,391,078 $338,444 $4,692,042
18 2038 2039 $1,549,372,147 $77,884,762 $0.144539 $2,239,447 $112,574 $2,352,021 $25,743,099 $341,761 $5,033,803
19 2039 2040 $1,580,359,590 $79,442,457 $0.143094 $2,261,394 $113,677 $2,375,071 $28,118,170 $345,110 $5,378,913
20 2040 2041 $1,611,966,781 $81,031,306 $0.141663 $2,283,556 $114,791 $2,398,347 $30,516,517 $348,492 $5,727,405
21 2041 2042 $1,644,206,117 $82,651,932 $0.140246 $2,305,935 $115,916 $2,421,851 $32,938,367 $351,908 $6,079,313
22 2042 2043 $1,677,090,239 $84,304,971 $0.138844 $2,328,533 $117,052 $2,445,585 $35,383,952 $355,356 $6,434,669
23 2043 2044 $1,710,632,044 $85,991,070 $0.137455 $2,351,352 $118,199 $2,469,551 $37,853,504 $358,839 $6,793,508
24 2044 2045 $1,744,844,685 $87,710,892 $0.136081 $2,374,396 $119,358 $2,493,753 $40,347,257 $362,355 $7,155,864
25 2045 2046 $1,779,741,579 $89,465,109 $0.134720 $2,397,665 $120,527 $2,518,192 $42,865,449 $365,906 $7,521,770
26 2046 2047 $1,815,336,410 $91,254,412 $0.133373 $2,421,162 $121,708 $2,542,870 $45,408,319 $369,492 $7,891,262
27 2047 2048 $1,851,643,139 $93,079,500 $0.132039 $2,444,889 $122,901 $2,567,790 $47,976,109 $373,113 $8,264,376
28 2048 2049 $1,888,676,001 $94,941,090 $0.130719 $2,468,849 $124,106 $2,592,955 $50,569,064 $376,770 $8,641,146
29 2049 2050 $1,926,449,521 $96,839,912 $0.129411 $2,493,044 $125,322 $2,618,366 $53,187,429 $380,462 $9,021,608
30 2050 2051 $1,964,978,512 $98,776,710 $0.128117 $2,517,476 $126,550 $2,644,026 $55,831,455 $384,191 $9,405,799
Total for years 1-30 $53,197,252 $2,634,202 $55,831,455 $9,405,799
.111
Schedule C
Summary Forecast:
Allen ISD Tax Revenue from The Farm
Notes:
This schedule includes real and business personal property.
Taxable property values mirror a forecast of values taxed by the City of Allen.Slight differences in exemption and abatement policies will slightly impact actual receipts.
Construction completed in a calendar year is not appraised as complete until the next calendar year.Accelerated or delayed completions will impact annual appraisal and tax.
The forecast assumes a 1%annual decline in the AISD assessment rate after 2019.
Phase 1 receipts reflect only construction assumed complete by December 31,2023.
(a) (b) (c) (d) (e) (f) (9) (h) (I) (l) (k) (I)
Property Tax Forecast,All Phases of Development Phase 1 Only
Total (Values calculated
Appraisal Property Total Taxable Assumed in a separate schedule)
Roll Tax Due Taxable Business AISD AISD Total Cumulative Total Cumulative
Value Without Real Personal Property Tax AISD Business Annual Total Annual Total
as of Penalty Property Property Rate Real Personal Property Tax Property Tax Property Tax Property Tax
Year Jan. 1, by Jan 31, Value Value per$100 Property Tax Property Tax Receipts Receipts Receipts Receipts
-1 2019 2020 $281,972 $0 $1.458900 $4,114 $0 $4 1141 :'.i $4,114€ -
Base 2020 2021 $281,972 $0 $1.444311 $4,073 $0 $4073 L., , $4,073i F§
1 2021 2022 $281,972 $0 $1.429868 $4,032 $0 $4,032 $4,032 $4,032 $4,032
2 2022 2023 $35,465,880 $0 $1.415569 $502,044 $0 $502,044 $506,076 $502,044 $506,076
3 2023 2024 $102,737,269 $4,803,109 $1.401414 $1,439,774 $67,311 $1,507,085 $2,013,161 $1,507,085 $2,013,161
4 2024 2025 $174,009,779 $5,188,990 $1.387399 $2,414,211 $71,992 $2,486,203 $4,499,364 $2,486,203 $4,499,364
5 2025 2026 $321,849,417 $15,063,102 $1.373525 $4,420,683 $206,896 $4,627,579 $9,126,943 $2,510,567 $7,009,931
6 2026 2027 $459,423,410 $19,976,391 $1.359790 $6,247,194 $271,637 $6,518,831 $15,645,774 $2,535,171 $9,545,102
7 2027 2028 $658,537,221 $31,776,850 $1.346192 $8,865,177 $427,777 $9,292,954 $24,938,729 $2,560,016 $12,105,118
8 2028 2029 $836,828,431 $38,936,253 $1.332730 $11,152,666 $518,915 $11,671,581 $36,610,310 $2,585,104 $14,690,222
9 2029 2030 $939,586,133 $43,545,140 $1.319403 $12,396,928 $574,536 $12,971,464 $49,581,774 $2,610,438 $17,300,659
10 2030 2031 $1,093,818,517 $51,676,349 $1.306209 $14,287,556 $675,001 $14,962,557 $64,544,330 $2,636,020 $19,936,680
11 2031 2032 $1,237,658,149 $58,805,004 $1.293147 $16,004,738 $760,435 $16,765,173 $81,309,503 $2,661,853 $22,598,533
12 2032 2033 $1,375,798,127 $69,159,439 $1.280215 $17,613,180 $885,390 $18,498,570 $99,808,073 $2,687,939 $25,286,472
13 2033 2034 $1,403,314,089 $70,542,628 $1.267413 $17,785,789 $894,067 $18,679,856 $118,487,928 $2,714,281 $28,000,753
14 2034 2035 $1,431,380,371 $71,953,481 $1.254739 $17,960,090 $902,828 $18,862,918 $137,350,847 $2,740,881 $30,741,634
15 2035 2036 $1,460,007,978 $73,392,550 $1.242192 $18,136,099 $911,676 $19,047,775 $156,398,621 $2,767,742 $33,509,376
16 2036 2037 $1,489,208,138 $74,860,401 $1.229770 $18,313,832 $920,611 $19,234,443 $175,633,064 $2,794,866 $36,304,241
17 2037 2038 $1,518,992,301 $76,357,610 $1.217472 $18,493,308 $929,633 $19,422,940 $195,056,005 $2,822,255 $39,126,496
18 2038 2039 $1,549,372,147 $77,884,762 $1.205297 $18,674,542 $938,743 $19,613,285 $214,669,290 $2,849,913 $41,976,410
19 2039 2040 $1,580,359,590 $79,442,457 $1.193244 $18,857,553 $947,943 $19,805,495 $234,474,785 $2,877,842 $44,854,252
20 2040 2041 $1,611,966,781 $81,031,306 $1.181312 $19,042,357 $957,233 $19,999,589 $254,474,375 $2,906,045 $47,760,297
21 2041 2042 $1,644,206,117 $82,651,932 $1.169499 $19,228,972 $966,613 $20,195,585 $274,669,960 $2,934,525 $50,694,822
22 2042 2043 $1,677,090,239 $84,304,971 $1.157804 $19,417,416 $976,086 $20,393,502 $295,063,462 $2,963,283 $53,658,105
23 2043 2044 $1,710,632,044 $85,991,070 $1.146226 $19,607,707 $985,652 $20,593,358 $315,656,821 $2,992,323 $56,650,428
24 2044 2045 $1,744,844,685 $87,710,892 $1.134764 $19,799,862 $995,311 $20,795,173 $336,451,994 $3,021,648 $59,672,076
25 2045 2046 $1,779,741,579 $89,465,109 $1.123416 $19,993,901 $1,005,065 $20,998,966 $357,450,960 $3,051,260 $62,723,335
26 2046 2047 $1,815,336,410 $91,254,412 $1.112182 $20,189,841 $1,014,915 $21,204,756 $378,655,716 $3,081,162 $65,804,498
27 2047 2048 $1,851,643,139 $93,079,500 $1.101060 $20,387,701 $1,024,861 $21,412,562 $400,068,278 $3,111,358 $68,915,855
28 2048 2049 $1,888,676,001 $94,941,090 $1.090049 $20,587,501 $1,034,905 $21,622,406 $421,690,684 $3,141,849 $72,057,704
29 2049 2050 $1,926,449,521 $96,839,912 $1.079149 $20,789,258 $1,045,047 $21,834,305 $443,524,989 $3,172,639 $75,230,344
30 2050 2051 $1,964,978,512 $98,776,710 $1.068357 $20,992,993 $1,055,288 $22,048,281 $465,573,270 $3,203,731 $78,434,075
Total for years 1-30 $443,606,903 $21,966,367 $465,573,270 $78,434,075
Schedule C
Summary Forecast:
Collin College District Tax Revenue from The Farm
Notes:
This schedule includes real and business personal property.
Taxable property values mirror a forecast of values taxed by the City of Allen.Slight differences in exemption and abatement policies will slightly impact actual receipts.
Construction completed in a calendar year is not appraised as complete until the next calendar year.Accelerated or delayed completions will impact annual appraisal and tax.
The forecast assumes a constant College District assessment rate after 2019.
Phase 1 receipts reflect only construction assumed complete by December 31,2023.
(a) (b) (c) (d) (e) (f) (9) (h) (i) G) (k) (I)
Property Tax Forecast,All Phases of Development Phase 1 Only
Total (Values calculated
Appraisal Property Total Taxable Assumed in a separate schedule)
Roll Tax Due Taxable Business College District College District Total Cumulative Total Cumulative
Value Without Real Personal Property Tax College District Business Annual Total Annual Total
as of Penalty Property Property Rate Real Personal Property Tax Property Tax Property Tax Property Tax
Year Jan. 1, by Jan 31, Value Value per$100 Property Tax Property Tax Receipts Receipts Receipts Receipts
-1 2019 2020 $281,972 $0 $0.081222 $229 $0 $229 $229
Base 2020 2021 $281,972 $0 $0.081222 $229 $0 $229' L„ $229[
1 2021 2022 $281,972 $0 $0.081222 $229 $0 $229 $229 $229 $229
2 2022 2023 $35,465,880 $0 $0.081222 $28,806 $0 $28,806 $29,035 $28,806 $29,035
3 2023 2024 $102,737,269 $4,803,109 $0.081222 $83,445 $3,901 $87,346 $116,382 $87,346 $116,382
4 2024 2025 $174,009,779 $5,188,990 $0.081222 $141,334 $4,215 $145,549 $261,930 $145,549 $261,930
5 2025 2026 $321,849,417 $15,063,102 $0.081222 $261,413 $12,235 $273,647 $535,577 $148,460 $410,390
6 2026 2027 $459,423,410 $19,976,391 $0.081222 $373,153 $16,225 $389,378 $924,956 $151,429 $561,819
7 2027 2028 $658,537,221 $31,776,850 $0.081222 $534,877 $25,810 $560,687 $1,485,642 $154,458 $716,277
8 2028 2029 $836,828,431 $38,936,253 $0.081222 $679,689 $31,625 $711,314 $2,196,956 $157,547 $873,823
9 2029 2030 $939,586,133 $43,545,140 $0.081222 $763,151 $35,368 $798,519 $2,995,475 $160,698 $1,034,521
10 2030 2031 $1,093,818,517 $51,676,349 $0.081222 $888,421 $41,973 $930,394 $3,925,869 $163,912 $1,198,433
11 2031 2032 $1,237,658,149 $58,805,004 $0.081222 $1,005,251 $47,763 $1,053,013 $4,978,882 $167,190 $1,365,623
12 2032 2033 $1,375,798,127 $69,159,439 $0.081222 $1,117,451 $56,173 $1,173,623 $6,152,506 $170,534 $1,536,156
13 2033 2034 $1,403,314,089 $70,542,628 $0.081222 $1,139,800 $57,296 $1,197,096 $7,349,601 $173,944 $1,710,101
14 2034 2035 $1,431,380,371 $71,953,481 $0.081222 $1,162,596 $58,442 $1,221,038 $8,570,639 $177,423 $1,887,524
15 2035 2036 $1,460,007,978 $73,392,550 $0.081222 $1,185,848 $59,611 $1,245,459 $9,816,098 $180,972 $2,068,495
16 2036 2037 $1,489,208,138 $74,860,401 $0.081222 $1,209,565 $60,803 $1,270,368 $11,086,466 $184,591 $2,253,087
17 2037 2038 $1,518,992,301 $76,357,610 $0.081222 $1,233,756 $62,019 $1,295,775 $12,382,241 $188,283 $2,441,369
18 2038 2039 $1,549,372,147 $77,884,762 $0.081222 $1,258,431 $63,260 $1,321,691 $13,703,931 $192,049 $2,633,418
19 2039 2040 $1,580,359,590 $79,442,457 $0.081222 $1,283,600 $64,525 $1,348,124 $15,052,056 $195,890 $2,829,308
20 2040 2041 $1,611,966,781 $81,031,306 $0.081222 $1,309,272 $65,815 $1,375,087 $16,427,143 $199,807 $3,029,115
21 2041 2042 $1,644,206,117 $82,651,932 $0.081222 $1,335,457 $67,132 $1,402,589 $17,829,731 $203,803 $3,232,918
22 2042 2043 $1,677,090,239 $84,304,971 $0.081222 $1,362,166 $68,474 $1,430,640 $19,260,372 $207,880 $3,440,798
23 2043 2044 $1,710,632,044 $85,991,070 $0.081222 $1,389,410 $69,844 $1,459,253 $20,719,625 $212,037 $3,652,835
24 2044 2045 $1,744,844,685 $87,710,892 $0.081222 $1,417,198 $71,241 $1,488,438 $22,208,063 $216,278 $3,869,113
25 2045 2046 $1,779,741,579 $89,465,109 $0.081222 $1,445,542 $72,665 $1,518,207 $23,726,270 $220,603 $4,089,716
26 2046 2047 $1,815,336,410 $91,254,412 $0.081222 $1,474,453 $74,119 $1,548,571 $25,274,841 $225,016 $4,314,732
27 2047 2048 $1,851,643,139 $93,079,500 $0.081222 $1,503,942 $75,601 $1,579,543 $26,854,384 $229,516 $4,544,248
28 2048 2049 $1,888,676,001 $94,941,090 $0.081222 $1,534,020 $77,113 $1,611,133 $28,465,518 $234,106 $4,778,354
29 2049 2050 $1,926,449,521 $96,839,912 $0.081222 $1,564,701 $78,655 $1,643,356 $30,108,874 $238,788 $5,017,142
30 2050 2051 $1,964,978,512 $98,776,710 $0.081222 $1,595,995 $80,228 $1,676,223 $31,785,097 $243,564 $5,260,706
Total for years 1-30 $30,282,968 $1,502,129 $31,785,097 $5,260,706