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Ordinance No. 15,577 ORDINANCE NO. 15,577 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN,TEXAS, CHANGING THE BOUNDARIES OF REINVESTMENT ZONE NUMBER ONE,CITY OF BAYTOWN, TEXAS; APPROVING THE RESTATED AND EIGHTH AMENDMENT TO THE PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN FOR REINVESTMENT ZONE NUMBER ONE, CITY OF BAYTOWN, TEXAS; AUTHORIZING THE CITY CLERK TO DISTRIBUTE SUCH PLANS; CONTAINING FINDINGS AND PROVISIONS RELATED TO THE FOREGOING SUBJECTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. ************************************************************************************* WHEREAS,the City Council of the City of Baytown("City")pursuant to the provisions of Chapter 311,Texas Tax Code,created Reinvestment Zone Number One,City of Baytown,Texas, (the"Zone"),by Ordinance 9197,adopted August 9,2001;and WHEREAS,by Ordinance No.9275,adopted November 20,2001,the City enlarged Reinvestment Zone Number One,City of Baytown,Texas,for the purpose of encouraging residential development within the San Jacinto Mall area; and WHEREAS,by Ordinance No. 9290, adopted December 13, 2001, the City approved the Project Plan and Reinvestment Zone Financing Plan;and WHEREAS, by Ordinance No. 9708, adopted January 22, 2004, the City enlarged Reinvestment Zone Number One, City of Baytown, Texas, to include approximately 45 acres adjacent to John Martin Road;and WHEREAS,by Ordinance No.9968,adopted December 9,2004,the boundaries of the TIRZ were restated to include 474 acres expanded in 2001 and 45 acres annexed in 2004; and WHEREAS,by Ordinance No. 10,923,adopted July 24,2008,the City approved the Restated and First Amended Project Plan and Reinvestment Zone Financing Plan; and WHEREAS,by Ordinance No. 10,982,the City ratified Ordinance 10,923;and WHEREAS, by Ordinance No. 12,111, adopted November 19, 2012, the City enlarged Reinvestment Zone Number One, City of Baytown,Texas, to include Sjolander Road and property to the east of Sjolander Road and North of I-10,to be developed as a Chevron Phillips chemical plant;and WHEREAS, by Ordinance 12,112, adopted November 19, 2012, the City approved the Second Amended Project Plan and Reinvestment Zone Financing Plan; and WHEREAS, by Ordinance 12,730, adopted December 11, 2014, the City approved the Third Amended Project Plan and Reinvestment Zone Financing Plan,excluded land from the Zone,and enlarged the Zone to include approximately 45 acres of land along John Martin Road; and WHEREAS, by Ordinance No. 12,918, adopted August 13, 2015, the City approved the Fourth Amended Project Plan and Reinvestment Zone Financing Plan, and enlarged the Zone to include approximately 79 acres along Wallisville Road; and WHEREAS, by Ordinance No. 13,397, adopted January 26, 2017, the City approved the Third Interlocal Agreement with Harris County and the Restated and Fifth Amended Project Plan and Reinvestment Zone Financing Plan; and WHEREAS, by Ordinance No. 13,423, adopted March 9, 2017, the City approved the Sixth Amended Project Plan and Reinvestment Zone Financing Plan;and WHEREAS, on December 10,2020,the City Council approved and restated the boundaries of the Zone;and WHEREAS, by Ordinance No. 14,637, adopted December 21, 2020, the boundaries of the TIRZ were restated to include approximately 842.922 acres and exclude approximately 58.693 acres and the City approved the Seventh Amended Project Plan and Reinvestment Zone Financing Plan; and WHEREAS, the City may reduce or enlarge the boundaries of an existing reinvestment zone pursuant to Section 311.007,Texas Tax Code; and WHEREAS,the Board of Directors of the Zone has requested that the City Council include certain land within the Zone boundaries on the basis that the included land will benefit from inclusion in the Zone; and WHEREAS, the proposed enlarged zone meets the requirements for enlarging an existing reinvestment zone pursuant to Section 311.006(b),Texas Tax Code;and WHEREAS, the proposed improvements in the enlarged zone will significantly enhance the value of all taxable real property in the proposed enlarged zone and will be of general benefit to the City;and WHEREAS, the Board of Directors of the Zone considered and adopted the Restated and Eighth Amended Project Plan and Reinvestment Zone Financing Plan,which adds land to the Zone and enlarges the Zone,and recommended the Amendment for approval by City Council;NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,TEXAS: Section 1: The findings and recitals contained in the preamble of this ordinance are hereby found and declared to be true and correct and are adopted as part of this ordinance for all purposes. Section 2: The City,acting under and in accordance with the provisions of Chapter 311,Texas Tax Code,including Sections 311.006 and 311.007(a),does hereby change the boundaries of Reinvestment Zone Number One,City of Baytown,Texas,as follows: The Annexation Area depicted on the map in Exhibit"A," attached hereto and incorporated herein for all intents and purposes,is hereby annexed into the Zone. Section 3: The boundaries of the Zone shall be changed as of the effective date of this ordinance. Section 4: The tax increment base for the enlarged Zone shall include the tax increment base established by the Ordinance creating the Zone and shall include the tax increment base attributable to the annexation area added to the Zone by this Ordinance,which tax increment base shall be January 1,2024. 2 Section 5: The Plan is hereby amended to reflect the Annexation Area shown as Exhibit "A" and is attached hereto as Exhibit"B"and incorporated herein for all intents and purposes. The Amendment is determined to be feasible and is approved. The appropriate officials of the City are authorized to take all steps reasonably necessary to implement the Amendment. Section 6: The City Clerk is directed to provide copies of the Amendment to each taxing unit levying ad valorem taxes in the Zone. Section 7: If any provision,section,subsection,sentence,clause,or phrase of this ordinance,or the application of same to any person or set of circumstances is for any reason held to be unconstitutional, void,or invalid,the validity of the remaining portions of this ordinance or their application to other persons or sets of circumstances shall not be affected thereby,it being the intent of the City Council in adopting this ordinance that no portion hereof or provision or regulation contained herein shall become inoperative or fail by reason of any unconstitutionality, voidness, or invalidity of any other portion hereof, and all provisions of this ordinance are declared to be severable for that purpose. Section 8: This ordinance shall take effect immediately from and after its passage by the City Council of the City of Baytown. INTRODUCED, READ AND PASSED by the affi vote of the City Council of the City of Baytown this the 12"'day of October,2023. OF IWTO oQyA— — L6 �.y Gaoo . DON CAPETILLO,Maylbr U ANGELA ACKSON, it Q ierk ®•" �'�� OF APPROVED AS O F RM: SCOTT LE D,City Attorney R:Karen Anderson.ORDINANCES\2023\2023.10.12 S.Lemond TIRZ-ChangingBoundaries&EighthAmendment.docx 3 EXHIBIT A PROPOSED 2023 ANNEXATION (PROPERTY TO BE ADDED TO THE TIRZ ZONE) .:i ter` +;• r^"cl;iiiiiA•' r+r+r � ., `' +; � � Lam' �� ,�► � ��a,��a'•^:S,r ',:ti..,as�� -.,''+, —± 2� 1 �� `!.' ti F.''•,.r-r ''��'r� •,4 i.- ?fir * �� ,.:�. Try-� Proposed 2023 Annexation (Property to be added to the TIRZ) -Aerial �u �qr *, r � �pS Y- r.. ..a t Y 1 r� 1 Source:Bing Maps Existing City of Baytown TIRZ#I Property and Proposed 2023 Annexation K Wnwon or Iwo A Edst cinr Od�lr;� pla pEad� InL ct iL El Rd IL P Mr.Nair PA "Unlovey Coady Cedar Bayou Legend mar" CZ) 2023 Annexation Existing TIRZ Boundary VO 0 0.5 t 2 Mks F I A Cry V Houton iW T as Parks&W,A'iff C0NMP IM HERE,Gary.Fougsquam S&feGm"T#,chnofvgm%hxkMETlft USGS.EPA NK USQk ESrL NASA NGA USGS, Park St a FEMA EXHIBIT "B" TAX INCREMENT REINVESTMENT ZONE NUMBER ONE CITY OF BAYTOWN, TEXAS EIGHTH AMENDED PROJEC-h PLAN AND FINANCING PLAN 2023 PREPARED BV: MUNICAP, INC. PUBLIC FINANCE TAX INCREMENT REINVESTMENT ZONE NUMBER ONE CITY OF BAYTOWN, TEXAS EIGHTH AMENDED PROJECT PLAN AND FINANCING PLAN TABLE OF CONTENTS 1.INTRODUCTION............................................................................................................... 1 1.1. AUTHORITY AND PURPOSE..........................................................................................................i 1.2. ELIGIBILITY REQUIREMENTS.....................................................................................................2 1.3. PRELIMINARY PLAN;HEARING.................. ...............................................................................2 1.4. CREATION OF THE ZONE............................................................................................................3 1.5. BOARD RECOMMENDATIONS..................................... ................................................................3 1.6. COUNCIL ACTION ......................................................................................................................4 1.7. HISTORY OF REDEVELOPMENT EFFORTS IN THE ZONE..............................................................5 1.8. PROPOSED DEVELOPMENT AGREEMENT....................................................................................5 1.9. MAINTENANCE...........................................................................................................................6 1.10. SUMMARY OF RESULTS..............................................................................................................6 2.ASSESSMENT AND TAX COLLECTION PROCEDURES.................................................... 10 2.1 AUTHORITY AND PURPOSE........................................................................................................10 2.2 METHODOLOGY........................................................................................................................10 2.3 APPEALS...................................................................................................................................10 2.4 TAXATION PROCEDURES...........................................................................................................11 2.5 PENALTIES AND IN7 EREST........................................................................................................12 2.6 TAX SALE..................................................................................................................................12 2.7 TAX RATES...............................................................................................................................13 3. PROJECT PLAN............................................................................................................. 15 3.1.AUTHORIZED PROJECTS AND PROJECT COSTS............................................................................15 3.2.TIRZ PARTICIPATION LEVEL......................................................................................................15 3.3.DESCRIPTIONS AND MAPS............................................................................................................16 3.4.PROPOSED CHANGES TO ORDINANCES,PLANS,CODES,RULES AND REGULATIONS....................17 3.5.ESTIMATED NON-PROJECT COSTS...............................................................................................17 3.6.RELOCATION OF DISPLACED PERSONS........................................................................................17 4.FINANCING PLAN.......................................................................................................... 18 4.1.ESTIMATED PROJECT COSTS.......................................................................................................18 4.2.PROPOSED PI BLIC IMPROVEMENTS..... ..................................................................................18 4.3.E('O}OMIC FEASIBILITY..............................................................................................................18 4.4.ESTIMATED BONDED INDEBTEDNESS...........................................................................................23 4.5.ESTIMATED TIME FOR COSTS OR OBLIGATIONS..........................................................................23 4.6.METHOD OF FINANCING..............................................................................................................23 4.7.TOTAL APPRAISED VALUE...........................................................................................................24 4.8.CAPTURED APPRAISED VALUE ....................................................................................................24 4.9.DURATION OF THE ZONE;TERMINATION.....................................................................................24 5.ASSUMPTION AND LIMITATIONS.................................................................................. 25 6.LIST OF EXHIBITS.........................................................................................................27 EXHIBIT A-1-PROPOSED 2023 ANNEXATION(PROPERTY TO BE ADDED TO THE TIRZ ZONE) EXHIBIT A-2-PROPOSED 2023 ANNEXATION-AERIAL VIEW(PROPERTY TO BE ADDED TO THE TIRZ ZONE) EXHIBIT A-3-MAP OF THE EXISITING PROPERTY AND TIRZ ZONE EXHIBIT A-4-MAP OF THE EXISITING PROPERTY AND TIRZ ZONE WITH THE PROPOSED 2023 ANNEXATION AREA EXHIBIT B-DESCRIPTION OF THE PROPERTY EXHIBIT C-1.1 -2023 ANNEXATION-PROJECTED TAXABLE VALUE-ALL DEVELOPMENT EXHIBIT C-1.2-2023 ANNEXATION-PROJECTED ASSESSED VALUE-SUMMARY EXHIBIT C-1.3-2023 ANNEXATION-PROJECTED INCREMENTAL ASSESSED VALUE AND INCREMMENTAL REAL PROPERTY TAXES AVAILABLE FOR TIRZ OBLIGATIONS THROUGH THE CITY EXHIBIT C-1.4-2023 ANNEXATION-PROJECTED INCREMENTAL REAL PROPERTY TAXES AVAILABLE TO THE CITY EXHIBIT C-1.5-2023 ANNEXATION-PROJECTED INCREMENTAL ASSESSED VALUE AND INCREMENTAL REAL PROPERTY TAXES AVAILABLE FOR TIRZ OBLIGATIONS THROUGH THE COUNTY EXHIBIT C-1.6-2023 ANNEXATION-PROJECTED INCREMENTAL REAL PROPERTY TAXES AVAILABLE TO THE COUNTY EXHIBIT C-1.7-2023 ANNEXATION-PROJECTED INCREMENTAL ASSESSED VALUE AND INCREMENTAL REAL PROPERTY TAXES AVAILABLE FOR TIRZ OBLIGATIONS- SUMMARY EXHIBIT D-MAP AND DESCRIPTION OF THE PROPOSED USES OF THE PROPERTY (CURRENT CONCEPT PLAN) EXHIBIT E-LIST OF PARCELS IN THE ZONE EXHIBIT F-PROJECT COSTS EXHIBIT G-MAP OF PUBLIC IMPROVEMENTS EXHIBIT H- CURRENT APPRAISED VALUE OF THE ZONE(BASE YEAR EXHIBIT I-TOTAL PROJECTED TAXABLE VALUE-ALL JURISDICTIONS EXHIBIT J-TOTAL CURRENT CAPTURED APPRAISED VALUE-ALL JURISDICTIONS EXHIBIT K-PROJECTED INCREMENT REVENUES-ALL JURISDICTIONS EXHIBIT L-1.1-PROJECTED INCREMENT REVENUES-CITY,ORIGINAL+HUNT EXHIBIT L-1.2-PROJECTED INCREMENT REVENUES-CITY,2020 AMENDMENT EXHIBIT L-1.3-PROJECTED INCREMENT REVENUES-IIARRIS COUNTY,ORIGINAL ZONE EXHIBIT L-1.4-PROJECTED INCREMENT REVENUES-HARRIS COUNTY,2020 AMENDMENT EXHIBIT L-1.5-PROJECTED INCREMENT REVENUES-CHAMBERS COUNTY,2017 AMENDMENT 1. INTRODUCTION 1.1.AUTHORITY AND PURPOSE The City of Baytown, Texas, a Texas General Law Type A municipality (the "C "), has the authority under Chapter 311, Texas Tax Code, as amended (the "Act") to designate a contiguous or noncontiguous geographic area within the corporate limits of the City and within the extraterritorial jurisdiction of the City as a tax increment reinvestment zone to promote development or redevelopment of the area if the governing body of the City (the "City Council") determines that development or redevelopment would not occur solely through private investment in the reasonably foreseeable future, that the tax increment reinvestment zone is feasible, and that creation of the tax increment reinvestment zone is in the best interest of the City and the property in the tax increment reinvestment zone. The purpose of a tax increment reinvestment zone is to facilitate such development or redevelopment by financing the costs of public works, public improvements,programs, and other projects benefiting the tax increment reinvestment zone,plus other costs incidental to those expenditures, all of which costs are authorized by the Act. Redevelopment Plan Concept and Goals The concept of the Zone (as defined in Section 1.2(a) herein) is to construct the necessary public infrastructure that will lead to private capital investment in the area,offer a corresponding increase in the tax base, and create economic opportunity. This includes the economic, social and physical infrastructure in the Zone. Reinvestment into the area through the Zone is intended to achieve the following goals: Goal 1: Improve and enhance corridors, mobility and connectivity throughout the Zone. Public streets and public utility systems are required to create an environment that will stimulate private investment in retail, commercial, residential and mixed-use developments. The reconstruction, extension and development of key streets and major thoroughfares will enhance the level of service and improve access within the Zone. All roadway improvements will be coordinated with the street reconstruction programs of the City,TxDOT and other public entities. Attention will be placed on leveraging Zone monies by funding street enhancement elements not addressed by the CIP programs of sister agencies. This plan proposes improvements to John Martin Road and Cedar Bayou Lynchburg Road. Goal 2: Enhance public infrastructure,facilities and services throughout the Zone. Enhancements to the physical infrastructure and public facilities within the Zone will be made to provide adequate capacity and to enhance provision of critical public services. Water, wastewater and drainage improvements will be made to support residential development and encourage future commercial development within the Zone. Storm water management will be achieved through the repair and replacement of drainage systems and the design and construction of new storm water utility systems,regional detention facilities and other improvements proven to reduce volumes of runoff from drainage areas. - - -- - - - -- - — - -- - -- - MuniCap 11 Goal 3: Promote economic opportunity and private investment and reinvestment in the Zone. The opportunity to reach the full economic potential of the area is based in part on the ability to construct critical infrastructure,minimize risk for investors and customers,build upon local assets and recognize or enhance market demand. The Zone will facilitate economic growth through capital improvements that make sites more attractive and projects feasible, land acquisition and assembly, development of facilities that draw visitors into the Zone, and use of incentivized development agreements, including 380 development agreements. 1.2.ELIGIBILITY REQUIREMENTS Except as provided in the Act, an area may be designated as a tax increment reinvestment zone if such area is predominantly open or undeveloped and, because of obsolete platting, deterioration of structures or site improvements, or other factors, substantially impairs or arrests the sound growth of the City. The City cannot,however, designate a zone if more than 30% of the property in the proposed zone, excluding property that is publicly owned, is "used for residential purposes" (defined by the Act as follows: "... property is used for residential purposes if it is occupied by a house having fewer than five living units ...")or if the total appraised value of taxable real property in the proposed zone and in existing reinvestment zones exceeds 50% of the total appraised value of taxable real property in the City and in industrial districts created by the City. (a) The Zone. By City Council action on August 9, 2001 the City created a tax increment reinvestment zone to be known as"Reinvestment Zone Number One,City of Baytown, Texas"(the "Zone"or"TIRZ")that includes approximately 350 acres depicted on Exhibit A and described in Exhibit B(the"Pro a ").The Property meets the eligibility requirements of the Act and the City Council further finds and declares that the Property included in the proposed Zone meets the criteria and requirements of Section 311.005, because purpose of the tax increment reinvestment zone (the "Zone") is to finance construction of public facilities and infrastructure necessary to catalyze commercial and residential development and redevelopment within the Zone boundaries. If the public works, public improvements, programs, and other projects are financed as contemplated by the Final Plan (hereinafter defined), the City envisions that the Property will be developed to take full advantage of the opportunity to enhance the City and to all of the region improved developments. 1.3.PRELIMINARY PLAN; IIEARING Before the City adopted the ordinance designating the Zone, the City Council prepared a preliminary reinvestment zone financing plan in accordance with the Act and, on August 9, 2001, held a public hearing on the creation of the proposed zone and its benefits to the City and to the Property, at which public hearing interested persons were given the opportunity to speak for and against the creation of the Zone, the boundaries of the Zone, and the concept of tax increment financing,and at which hearing the owners of the Property(collectively the"Owners")were given a reasonable opportunity to protest the inclusion of the Property in the Zone. The requirement of the Act for a preliminary reinvestment zone financing plan was satisfied by the preliminary plan dated August 9, 2001 (the "Preliminary Plan"), the purpose of which is to describe, in general terms,the public works,public improvements,programs,and other projects that will be undertaken and financed by the Zone. A description of how such public works, improvements,programs,and MuniCap 12 projects are to be undertaken and financed will be determined by the Final Plan (hereinafter defined), which require approval by the Board and by the City Council. 1.4.CREATION OF THE ZONE Subsequent to the above-referenced public hearing,the City Council adopted Ordinance No. 9197 on August 9, 2001 (the "Creation Ordinance") in accordance with the Act creating the Zone after the City Council found that development or redevelopment of the Property would not occur solely through private investment in the reasonably foreseeable future,that the Zone is feasible, and that creation of the Zone is in the best interest of the City and the Property. The ordinance creating the Zone appointed a Board of Directors for the Zone initially consisting of nine (9) members (the "Board"). 1.5.BOARD RECOMMENDATIONS Upon the creation of the Zone, the Board, during its December 5, 2001, meeting, reviewed the Final Project and Finance Plan for Reinvestment Zone Number One, City of Baytown (the "Final Plan"), and approved and recommended to the City Council the Final Plan,pursuant to which the City will contribute a portion of the ad valorem tax increment (the "Tax Increment") to new development in the Zone into a tax increment fund created by the City and segregated from all other funds of the City (the "TIRZ Fund") to the costs of public works, public improvements, programs, and other projects benefiting the Zone. The Board, during its January 6, 2004, meeting, reviewed a request to enlarge the boundaries of the Tax Increment Reinvestment Zone Number One on behalf of Amvest Properties,Inc. and Gulf Equities Realty Advisors and recommended to the City Council to approve the updated boundaries of the Zone were enlarged to include approximately 45 acres adjacent to John Martin Road. The Board, during its December 7, 2004, meeting, reviewed a request to affirm the boundaries of the Tax Increment Reinvestment Zone Number One and recommended to the City Council to restate the boundaries of the Zone as 474 acres and the subsequent expansion of approximately 45 acres. The Board,during its June 12,2008,meeting,reviewed a request to amend the Project and Finance Plan for the Tax Increment Reinvestment Zone Number One and recommended to the City Council to approve the Restated and First Amended Project and Finance Plan that will provide for improvements to the roadway network including Hunt Road, San Jacinto Boulevard and John Martin Road. Additionally, the plan provided for infrastructure improvements including water, wastewater and drainage to support several residential developments. The Board, during its November 6, 2012, meeting, reviewed a request to enlarge the boundaries of the Tax Increment Reinvestment Zone Number One and recommended to the City Council to enlarge the boundaries of the Zone to include Sjolander Road and property to the east of Sjolander Road and North of I-10, to be developed as a Chevron Phillips chemical plant. -- - - - - - - - - - - -- MuniCap 13 The Board, during its November 6, 2012, meeting, reviewed a request to amend the Project and Finance Plan for the Tax Increment Reinvestment Zone Number One and recommended to the City Council to approve the Second Amended Project and Finance Plan. The Board, during its December 2, 2014, meeting, reviewed a request to amend the Project and Finance Plan,revise the boundaries, and extend the term of the Tax Increment Reinvestment Zone Number One and recommended to the City Council to approve Third Amended Project and Finance Plan that will provide for the construction of San Jacinto Boulevard from I-10 south to Cedar Bayou-Lynchburg Road and the construction of water, wastewater and drainage improvements for the development of the 45 acres that was added to the Zone as part of the Plan Amendment. The Board,during its July 14,2015,meeting,reviewed a request to amend the Project and Finance Plan and enlarge the boundaries by 79 acres for the Tax Increment Reinvestment Zone Number One and recommended to the City Council to approve the Fourth Amended Project and Finance Plan. The Board, during its January 17, 2017, meeting, reviewed a request to amend the Project and Finance Plan and considered the Third Amendment to the Interlocal Agreement between Harris County, City of Baytown, and the Tax Increment Reinvestment Zone Number One and recommended to the City Council to approve the Fifth Amended Project and Finance Plan. The Board, during its February 7, 2017, meeting, reviewed a request to amend the Project and Finance Plan Tax Increment Reinvestment Zone Number One and recommended to the City Council to approve the Sixth and Restated Amended Project and Finance Plan. The Board, during its December 16, 2020, meeting, reviewed a request to amend the Project and Finance Plan and enlarge the boundaries for the Tax Increment Reinvestment Zone Number One and recommended to the City Council to approve the Fourth Amended Project and Finance Plan that will provide for the enhancement of and improvements to approximately 833 acres of land added into the Zone boundaries as part of this amendment and removes land that was added as part of the 2012 Plan Amendment. The Board now proposes the Eighth Amended and Restated Project and Finance Plan which provides for the enhancement of and improvements of the former San Jacinto mall area on approximately 125.2821 acres("2023 Annexation")added into the Zone boundaries as part of this amendment. The boundaries of the enlarged area are shown in Exhibit A-1. 1.6.COUNCIL ACTION The City Council, taking into consideration the recommendations of the Board, considered and approved the: • The enlargement of the boundaries to 474 acres, pursuant to Ordinance No. 9275, on November 20, 2001. • The Final Plan,pursuant to Ordinance No. 9290, on December 13,2001. - — ----- ------- MuniCap 14 • The enlargement of the boundaries to include approximately 45 acres, pursuant to Ordinance No. 9708,on January 22, 2004. • The enlargement of the boundaries to include approximately 474 acres expanded in 2001 and 45 acres annexed in 2004,pursuant to Ordinance No. 9968, on December 9, 2004. • The Restated and First Amended Project Plan and Reinvestment Zone Financing Plan, pursuant to Ordinance No 10,923, on July 24, 2008. • The ratification of Ordinance No. 10,923 pursuant to Ordinance No. 10,982,on October 9, 2008. • The enlargement of the boundaries,pursuant to Ordinance No. 12,111,on October 9,2008. • The Second Amended Project Plan and Reinvestment Zone Financing Plan, pursuant to Ordinance No. 12,112, on November 19, 2012. • The Third Amended Project Plan and Reinvestment Zone Financing Plan was approved by City Council, by Ordinance No. 12,730, on December 11, 2014. • The Fourth Amended Project Plan and Reinvestment Zone Financing Plan was approved by City Council,by Ordinance No. 12,918, on August 13, 2015. • The Third Interlocal Agreement with Harris County and the Restated and Fifth Amended Project Plan and Reinvestment Zone Financing Plan was approved by City Council by Ordinance No. 13,397, on January 26,2017. • The Sixth Amended and Restated Project Plan and Finance Plan was approved by City Council,by Ordinance No.13,423, on March 9, 2017. • The Seventh Amended and Restated Project Plan and Finance Plan was approved by City Council, pursuant to Ordinance No.14637, on December 21, 2020. The City Council, taking into consideration the recommendations of the Board, considered and approved this Eighth Amended and Restate Project and Finance Plan on _,2023. 1.7. HISTORY OF REDEVELOPMENT EFFORTS IN THE ZONE Since the inception of the Zone in 2001,infrastructure improvements,including water,wastewater and drainage improvements have been made to support residential development in the Eastpoint and Country Club Manor subdivisions. Over the years both subdivisions have developed with single family homes, and more recently, two hotels and an upscale apartment complex have been built in the area. Additionally, two apartment complexes have been built south of Country Club Manor, along Baker Road. In addition to residential development, public infrastructure improvements have supported new commercial investment throughout the Zone, including the Chevron Phillips chemical plant,major retail projects along Hunt Road,including Academy Sports and Burlington,hotels and restaurants along I-10, and the Altus Hospital along Manor Drive. 1.8.PROPOSED DEVELOPMENT AGREEMENT Pursuant to Texas Tax Code 311.010(h), a program is hereby established for the public purposes of developing and diversifying the economy of the zone, eliminating unemployment and underemployment in the zone, and developing or expanding transportation, business, and commercial activity in the Zone. Under the program,grants and loans in an aggregate amount not to exceed the amount of the Tax Increment produced by the City and paid into the tax increment MuniCap IS fund for the Zone for activities that benefit the Zone and stimulate business and commercial activity in the Zone. Payments made pursuant to this program shall be pursuant to economic development agreements entered into on behalf of the Zone and are considered Project Costs. No grant or loan shall be authorized by the Zone without consent of the City of Baytown. 1.9. MAINTENANCE As a direct consequence of an expanding list of projects, the Zone must provide for operation of the Zone's existing and planned facilities in the near term and in years to come beyond the duration of the Zone. In order to adequately provide for the operation of those facilities, operation expenditures are included in the project costs in an amount of up to 10% of total project costs for the Zone regardless of project cost category. 1.10. SUMMARY OF RESULTS As real property taxes are generated on an ad valorem basis from assessed values, it is first necessary to estimate the total future assessed value resulting from the Zone and the 2023 Amendment. This plan provides assessed value information based on the following: • 2023 Annexation to the Zone: o The real property tax rate is projected using the 2023 tax rates through the remainder of the TIRZ term; o The City's contribution of the increment attributable to ad valorem taxes levied; o The 125.2821 acres being added to the Property; o The City has committed to using 100%of the incremental revenues generated from the Property in the Zone, o Harris County has committed to using 75% of the incremental revenues generated from the Property, not to exceed$0.30/$1.00. • The Zone: o The real property tax rate is projected using the 2020 tax rates through the remainder of the TIRZ term; o The City's contribution of the increment attributable to ad valorem taxes levied; The approximately 897 acres in the Zone; a The City has committed to using 100%of the incremental revenues generated from the Property in the Zone, with the exception of the Chambers County property ("2017 Annexation"), which the City committed to using 60% of the incremental revenues generated from the Chambers County property when annexed in to the City; a Harris County has committed to using 75% of the incremental revenues generated from the Property, not to exceed $0.30/$1.00, with a cap of$40,100,000 provided to specific projects listed(See Table 3-B). o Chambers County has committed to using 60% of the incremental revenues generated from the Chambers County property in the Zone(See Table 3-C). MuniCap 16 In summary, the TIRZ financing analysis indicates that assuming three percent (3%) annual inflation through 2044 (and after completion of all phases), the Zone is estimated to have an incremental value of$1,091,782,381 as of January 1, 2045. Table 1-A provides the projected total and incremental assessed value for the 2023 Amendment in 2044. Refer to Exhibit C-1.3 - Exhibit C-1.6, attached hereto, for more information on the projected incremental value for each year. Table 1-A Projected Assessed Values—2023 Annexation Jurisdiction Projected Value' Base Value Incremental Value City of Baytown $174,631,541 $45,475,363 $129,156,178 Harris County $174,631,541 $45,475,363 $129,156,178 Chambers County $0 $0 $0 'Projected value includes residual assessed value that represents the value of land after development of Phase #1, Phase#2,Phase#3,and Future Phases respectively. ZThe base value of$45,475,363 represents the allocable share of the 2023 taxable assessed value shown in HCAD records allocated based on the proportional acreage the applicable parcels within the Zone. The assessed values displayed in Table 1-A above are the basis for estimating incremental real property taxes. The projected incremental taxes are shown in Table 1-D. The total projected value for the property in the Zone within the City of Baytown as of January 1, 2045, is $174,631,541 with an incremental value of $129,156,178. Table 1-D illustrates the projected assessed value for taxes due as of January 2045, assuming three percent(3%) annual inflation. Table 1-B provides the projected total and incremental assessed value for the Zone in 2044. Refer to Exhibit L-1.1 — Exhibit L-1.5 attached hereto, for more information on the projected incremental value for each year. Table 1-B Projected Assessed Values—Existing Property in the Zone (Prior to 2023 Annexation) Jurisdiction Projected Value Base Value Incremental Value City of Baytown $978,918,866 $16,292,664 $962,626,202 Harris County $1,010,932,343 $44,355,066 $966,577,277 Chambers County $97,999,500 $448,560 $97,550,940 Source: 7'Amended and Restated PFP The assessed values displayed in Table 1-B are the basis for estimating incremental real property taxes. The projected incremental taxes are shown in Table 1-E. The total projected value for the property in the Zone within the City of Baytown as of January 1, 2045, is $978,918,866 with an incremental value of$962,626,202. Table 1-E illustrates the projected assessed value for taxes due as of January 2045, assuming three percent(3%) annual inflation. MuniCap 17 Table 1-C provides the projected total and incremental assessed value for the Zone in 2044. Refer to Exhibit C-1.3 - Exhibit C-1.6 and Exhibit L-1.1 -Exhibit L-1.5, attached hereto, for more information on the projected incremental value for each year. Table 1-C Total Projected Assessed Values Jurisdiction Projected Value Base Value Incremental Value City of Baytown $1,153,550,408 $61,768,027 $1,091,782,381 Harris County $1,185,563,885 $89,830,429 $1,095,733,456 Chambers County $97,999,500 $448,560 $97,550,940 The assessed values displayed in Table 1-C above are the basis for estimating incremental real property taxes. The projected incremental taxes are shown in Table 1-F. The total projected value for the property in the Zone within the City of Baytown as of January 1, 2045, is $1,153,550,408 with an incremental value of$1,091,782,381. Table 1-F illustrates the projected assessed value for taxes due as of January 2045, assuming three percent(3%) annual inflation. Table 1-D Projected Incremental Real Property Tax Revenue-2023 Annexation Total Projected Total Projected Total Projected Incremental Incremental Tax Taxable Value as Taxable Value as Revenue as of of January 1, of January 1, January 31, Jurisdiction 2045 Base Value 2405 2045 City of Baytown $174,631,541 $45,475,363 $129,156,178 $13,062,615 Harris County $174,631,541 $45,475,363 $129,156,178 $5,986,684 Chambers County $0.00 $0.00 $0.00 $0.00 Total $19,049,299 'Projected value includes residual assessed value that represents the value of land after development of Phase#1, Phase#2,Phase#3,and Future Phases respectively. 2The base value of$45,475,363 represents the allocable share of the 2023 taxable assessed value shown in HCAD records allocated based on the proportional acreage of the applicable parcels within the Zone. Refer to Exhibit C-1.3-Exhibit C-1.6 for projected tax increment revenues for each year. ---- - --- - --------- — 11IuniCap 18 Table 1-E Projected Incremental Real Property Tax Revenue—Existing Property in the Zone (Prior to 2023 Annexation) Total Projected Total Projected Total Projected Incremental Incremental Tax Taxable Value as Taxable Value as Revenue as of Jurisdiction of January 1,2045 Base Value of January 1,2405 January 31,2045 City of Baytown-Original Zone $610,807,826 $15,199,013 $595,608,813 $82,406,883 City of Baytown-2020 Annex $368,111,040 $1,093,651 $367,017,389 $39,132,121 Harris County-Original Zone $507,719,954 $39,820,702 $467,899,252 $32,360,731 Harris County-2020 Annex $503,212,389 $4,534,364 $498,678,025 $26,244,751 Chambers County $97,999,500 $448,560 $97,550,940 $7,282,102 Total $187,426,589 Refer to Exhibit L-1.1 —Exhibit L-1.5 for projected tax increment revenues for each year. Table 14 Total Projected Incremental Real Property Tax Revenue Total Projected Total Projected Total Projected Incremental Incremental Tax Taxable Value as Taxable Value as Revenue as of of January 1, of January 1, January 31, Jurisdiction 2045 Base Value 2405 2045 City of Baytown-Original Zone $610,807,826 $15,199,013 $595,608,813 $82,406,883 City of Baytown-2020 Annex $368,111,040 $1,093,651 $367,017,389 $39,132,121 City of Baytown-2023 Annex' $174,631,541 $45,475,363 $129,156,178 $13,062,615 Harris County-Original Zone $507,719,954 $39,820,702 $467,899,252 $32,360,731 Harris County-2020 Annex $503,212,389 $4,534,364 $498,678,025 $26,244,751 Harris County-2023 Annex' $174,631,541 $45,475,363 $129,156,178 $5,986,684 Chambers County-2017 Annex $97,999,500 $448,560 $97,550,940 $7,282,102 Total $206,475,888 'Projected value includes residual assessed value that represents the value of land after development of Phase#1, Phase#2, Phase#3,and Future Phases respectively. Refer to Exhibit C-1.3 — Exhibit C-1.6 and Exhibit L-1.1 — Exhibit L-1.5 for projected tax increment revenues for each year. (the remainder of this page is intentionally left blank) - MuniCap 19 2. ASSESSMENT AND TAX COLLECTION PROCEDURES 2.1 AUTHORITY AND PURPOSE Pursuant to Texas Tax Code, all taxable property is appraised at its market value as of January 1 of each year. Each county in Texas is served by an appraisal district, which determines the value of all that county's taxable property. Generally,local governments that collect property taxes,such as counties, cities, and school districts, are members of the appraisal district. 2.2 METHODOLOGY Each county appraisal district determines the value of all taxable property within the county boundaries. Tax Code Section 25.18 requires appraisal districts to reappraise all property in its jurisdiction at least once every three years.Tax Code Section 23.01 requires that appraisal districts comply with the Uniform Standards of Professional Appraisal Practice if mass appraisal is used, and that the same appraisal methods and techniques be used in appraising the same or similar kinds of property. Individual characteristics that affect the property's market value must be evaluated in determining the property's market value. Before appraisals begin,the appraisal district compiles a list of taxable property. The list contains a description and the name and address of the owner for each property. In a mass appraisal, the appraisal district then classifies properties according to a variety of factors, such as size, use and construction type. Using data from recent property sales, the appraisal district appraises the value of typical properties in each class. Taking into account differences such as age or location, the appraisal district uses typical property values to appraise all the properties in each class. With few exceptions,Tax Code Section 23.01 requires taxable property to be appraised at market value as of January 1. Market value is the price at which a property would transfer for cash or its equivalent under prevailing market conditions if: • it is exposed for sale in the open market with a reasonable time for the seller to find a purchaser; • both the seller and the purchaser know of all the uses and purposes to which the property is adapted and for which it is capable of being used and of the enforceable restrictions on its use; and • both the seller and purchaser seek to maximize their gains, and neither is in a position to take advantage of the exigencies of the other. Source:https- comptroller.texas.gov taxes property-tax valuing property.php 2.3 APPEALS According to the Harris County Appraisal District ("HCAD"), property owners may utilize the HCAD appeal procedures if they have a concern about: MuniCap 110 • the market or appraised value of the property; • unequal appraisal of the property compared to other properties; • the inclusion of the property on the appraisal roll; • any exemptions that may apply to the property owner; • the qualification for an agricultural or timber appraisal; • the taxable status of the property; • the local governments which should be taxing the property; • the ownership of property; • a change of use of land receiving special appraisal; and/or • any action taken by the chief appraiser, HCAD or Appraisal Review Board ("ARB") that applies to and adversely affects the property. If property owners cannot resolve their concern informally with the HCAD staff, they may have their cases heard by the ARB. The ARB is an independent board of citizens that review problems with appraisals or other concerns listed above. It has the power to order the HCAD to make the necessary changes to solve problems. If a property owner files a written request for an ARB hearing (called a notice of protest) on or before May 31 (or 30 days after the notice of appraised value was mailed to the property owner, whichever is later), the ARB will set the case for a hearing. The property owner will receive written notice of the time, date,and place of the hearing. After it decides the case, the ARB must send them a copy of its order by certified mail. If the property owner is not satisfied with the decision, it has the right to appeal. If it chooses to go to court, the property owner must start the process by filing a petition within 60 days of the date it receives the ARB's order. In certain cases,as an alternative to filing an appeal in district court, the property owner may file not later than the 45`h day after it receives notice of the ARB order a request for binding arbitration with the HCAD. In certain cases,originating in certain counties, as an alternative to filing an appeal in district court, the property owner may appeal to the State Office of Administrative Hearings (SOAH). An appeal to SOAH is initiated by not later than the 30`h day after the property owner receives notice of the ARB's order by filing with the chief appraiser of the HCAD a notice of appeal. 2.4 TAXATION PROCEDURES The assessment and property tax process for each tax year includes the steps shown in Table 2- A on the following page. (the remainder of this page is intentionally left blank) MuniCap Ill Table 2-A Property Tax Timeline Date(s) Event January 1 CADs are required to appraise property on this date. A lien attaches to each taxable property to ensure property tax payment. January 1 -April 30 CAD completes appraisals and processes applications for exemptions. April-May Appraisal districts send notices of appraised value. May 1 Appraisal review board begins hearing protests from property owners. July 1 Local taxing units may impose additional penalties for legal costs related to collecting unpaid taxes. August- September Local taxing units adopt tax rates. October 1 Local taxing units (or county tax assessor-collector, acting on their behalf) begin sending tax bills to property owners. January 1 Taxes due to local taxing units (or county tax assessor-collector, if acting on their behalf). February 1 Local taxing units begin charging penalties and interest for unpaid tax bills. 2.5 PENALTIES AND INTEREST According to the Texas Comptroller, if taxes are not paid by January 31s`,penalties and interest will accrue are shown in Table 2-B. Table 2-B Penalties and Interest If Tax Paid In: Penalty Interest Total February 6% + 1% = 7% March 7% + 2% = 9% April 8% + 3% = 11% May 9% + 4% = 13% June 10% + 5% = 15% July 12% 6% _ 18% Penalties reach a maximum of 12% and interest of 1% is added each month after the due date. All real property accounts not paid in full by June 30th of the year in which they become delinquent will be referred to the delinquent tax attorney for enforced collection and will incur an additional penalty equal to 15%-20% of the total taxes,penalties, and interest due. 2.6 TAX SALE According to the Harris County Tax Collector's website, tax sales are held once orders of sale are issued from the district courts in reference to tax judgments for delinquent taxes. Real property being sold as a result of a foreclosure to satisfy delinquent taxes is required by Texas law to be sold on the first Tuesday of the month. All counties have sales on the same day. -- - --- - -._._....- -- ----- -- - - - -=--— -- --- - - MuniCap 112 2.7 TAX RATES Tax rates are set on an annual basis by the City. For fiscal year 2023, the real property tax rate in the City is $0.75000 per$100 of assessed value. The City tax rates have fluctuated in past years.It is likely that the tax rate will continue to change over time; for purposes of this study, however, it is assumed that the tax rate will remain at its current level in future years. Table 2-C provides historical tax rates from fiscal years 2018 to 2022 for the City of Baytown. Table 2-C City of Baytown Historical Tax Rates 2018-2022 Tax Rate Per Tax Rate Per Tax Rate Per $100 Assessed $100 Assessed Fiscal $100 Assessed Value Value Year Value (M&O) (I&S) (Total) 2018-19 $0.457643 $0.354387 $0.812030 2019-20 $0.460930 $0.341100 $0.802030 2020-21 $0.484000 $0.311150 $0.795150 2021-22 $0.489310 $0.295690 $0.785000 2022-23 $0.463120 $0.286880 $0.750000 Source:HCAD and City of Baytown website. Tax rates are set on an annual basis by Harris County. For fiscal year 2023, the real property tax rate in the Harris County is $0.343730 per$100 of assessed value. The Harris County tax rates have fluctuated in past years.It is likely that the tax rate will continue to change over time; for purposes of this study, however, it is assumed that the tax rate will remain at its current level in future years. Table 2-D provides historical tax rates from fiscal years 2018 to 2022 for Harris County. (the remainder of this page is intentionally left blank) �� MuniCap 113 Table 2-D Harris County Historical Tax Rates 2018-2022 Tax Rate Per Tax Rate Per Tax Rate Per $100 Assessed $100 Assessed Fiscal $100 Assessed Value Value Year Value (M&O) (I&S) (Total) 2018-19 $0.350000 0.068580 $0.418580 2019-20 $0.341740 0.065390 $0.407130 2020-21 $0.340280 0: 50 0880 $0.391160 2021-22 $0.335000 0.041930 $0.376930 2022-23 $0.301050 0.042680 $0.343730 Source:HCAD and City of Baytown website. Tax rates are set on an annual basis by Chambers County. For fiscal year 2023,the real property tax rate in the Chambers County is $0.397543 per$100 of assessed value. The Chambers County tax rates have fluctuated in past years. It is likely that the tax rate will continue to change over time; for purposes of this study,however, it is assumed that the tax rate will remain at its current level in future years. Table 2 provides historical tax rates from fiscal years 2018 to 2022 for Chambers County. Table 2-E Chambers County Historical Tax Rates 2018-2022 Tax Rate Per Tax Rate Per Tax Rate Per Tax Rate Per $100 Assessed $100 Assessed $100 Assessed Fiscal $100 Assessed Value Value Value Year Value(M&O) (Rd &Br) (I&S) (Total) 2018-19 $0.355362 $0.006791 $0.055626 $0.417779 2019-20 $0.362149 $0.006550 $0.047372 $0.416071 2020-21 $0.352259 $0.006339 $0.058323 $0.416921 2021-22 $0.342818 $0.006339 $0.083764 $0.432921 2022-23 $0.327136 $0.005536 $0.064871 $0.397543 Source:Chambers County website. (the remainder of this page is intentionally left blank) MuniCap 114 3. PROJECT PLAN 3.1.AUTHORIZED PROJECTS AND PROJECT COSTS The amended and restated project costs are detailed in Exhibit F. The dollar amounts for each category are approximate and may be amended from time to time by the Board of Directors of the Zone with approval of the City Council. 3.2. TIRZ PARTICIPATION LEVEL For properties within the TIRZ, 1001'o of the total City incremental real property tax revenue will be pledged to the TIRZ Fund, except for the property located in Chambers County, as the 2017 Annexation, which 60% of the total City incremental real property tax revenue will be pledged to the TIRZ Fund when the property is annexed into the City, as shown in Table 3-A. Table 3-A TIRZ Participation by Jurisdiction Jurisdiction TIRZ Participation level 2017 Annexation 2023 Annexation City of Baytown 100% 60%when annexed 100% Harris County 75%not to exceed$0.30/$100 0% 75%not to exceed$0.30/$100 Chambers County 0% 60% 0% Additionally, 75% of the total Harris County incremental real property tax revenues from the Property, not to exceed$0.30/$100,will be pledged to the TIRZ Fund as shown in Table 3-A. Harris County' s current participation shall not exceed a total of$ 20,100,000 as shown in Table 2-A. This includes a cap of$20,100,000 for the Original Zone and $20,000,000 for the 2020 Amendment. Harris County participation is set to expire on December 31, 2030; however, it is anticipated that the County's participation will be extended until 2044. Table 3-B Harris County Estimated Allocation Estimated County Project _ Allocation Cap Hunt Road $3,500,000 John Martin $1,500,000 San Jacinto Boulevard $9,500,000 Sjolander Road $5,600,000 Cedar Bayou Lynchburg Road $10,000,000 John Martin Road(Cedar Bayou Lynchburg to Wallisville) $10,000,000 Total $40,100,000 MuniCap 115 Additionally, 60% of the total Chambers County incremental real property tax revenues from the Property in the 2017 Annexation,will be pledged to the TIRZ Fund as shown in Table 3-A. Chambers County' s current participation shall not exceed a total of$4,000,000 as shown in Table 3-C and is limited to the costs of financing, design, and construction of Kilgore Parkway within the Zone.Additionally,participation will cease once the property has been annexed into the City's corporate boundaries or once the project improvements have been completed and project costs are paid; however, for the purpose of this amendment the County's participation is being extended until the term's expiration in 2044. Table 3-C Chambers County Estimated Allocation Estimated County Project Allocation Cap Kilgore Parkway $4,000,000 Total $4,000,000 3.3.DESCRIPTIONS AND MAPS Existing Uses and Conditions. The Zone consists of property located in the general vicinity of the intersection of I-10 and Garth Road. At the time of the creation of the Zone there was no residential development on such land.Existing uses within the Zone consist of single family residential,multi- family residential, commercial, industrial and vacant. The Property in the Zone is within the City's corporate limits and within the City's extraterritorial jurisdiction, with a portion located in Harris County and a portion in Chambers County. The Property is comprised of approximately 897 acres. A map of the Property and the Zone is shown on Exhibit A-3. The area proposed to be added as part of this Plan amendment primarily consists of undeveloped/vacant land as shown in Exhibit A-1. Existing uses within the 2023 Annexation are commercial. Proposed Uses. The Property is zoned based on the applicable City standards. A map of the Property is shown on Exhibit A-3 and the property within the TIRZ is anticipated to be used for residential,commercial, industrial, and undeveloped land uses. The area proposed is zoned based on the applicable City standards and the property within the TIRZ is anticipated to be used primarily for commercial purposes. The 2023 Annexation area is within the City's corporate limits. The area is comprised of approximately 125.2821 acres. A map of the proposed area in the 2023 Annexation is shown on Exhibit A-1 and Exhibit A-2. MuniCap 116 Property Description. The descriptions of the parcels that comprise the 2023 Annexation are provided in Exhibit B. The list of Parcels in the 2023 Annexation is shown in Exhibit E. 3.4.PROPOSED CHANGES TO ORDINANCES,PLANS,CODES,RULES AND REGULATIONS All construction will be done in conformance with existing building code regulations of the City of Baytown. There are no proposed changes of any city development ordinances, master plans or building codes. 3.5.ESTIMATED NON-PROJECT COSTS Non-project costs are funds that will be spent to develop in the Zone but will not be financed by the Zone, which are estimated at approximately $361,166,565 for the total property within the Zone. 3.6. RELOCATION OF DISPLACED PERSONS No persons will be displaced or relocated due to the creation of the Zone or implementation of the Final Plan. (the remainder of this page is intentionally left blank) MuniCap 117 ___.�....... _.. .. _-:3 4. FINANCIIVG PLAN 4.1.ESTIMATED PROJECT COSTS Exhibit F lists the estimated project costs for the Zone.As set forth in this Plan,the dollar amounts are approximate and may be amended from time to time by the Board of Directors of the Zone with approval of the City Council. The financing costs are a function of project financing needs and will vary with market conditions from the estimates shown in Exhibit F. 4.2.PROPOSED PUBLIC IMPROVEMENTS Categories of Public Improvements. The details are described throughout the Plan, including but not limited to roadway construction/ reconstruction, stormwater conveyance and management systems,and water and wastewater improvements. The number and location of proposed improvements are contained in Exhibit F. Locations of Public Improvements. Projects will be implemented along roadways and within the boundaries of the Zone as shown in Exhibit A-1. 4.3.ECONOMIC FEASIBILITY The original plan prepared in 2001 evaluated the economic potential of the Zone. The analysis determined that the area within the boundaries of the Zone substantially arrests and impairs growth of the City, slows down the provision of housing accommodations and constitutes an economic and social liability. It was found that the area suffers from inadequate sidewalk and street layout, lack of infrastructure, faulty lot layout in relation to size, adequacy, accessibility or usefulness, deterioration of site and other improvements,economic disinvestments and a poor regional image. Given these conditions the area would greatly benefit from a Tax Increment Reinvestment Zone, which facilitates street and infrastructure improvements. These improvements will help make the area more appealing to commercial and residential development,while strengthening the economic well-being and quality of life of the community. Hawes Hill Calderon updated the Economic Feasibility Study for the Zone in 2016. The proposed area of the 2023 Annexation is currently zoned for commercial uses. As shown in Exhibit H, the current aggregate taxable assessed value of the property in the development based on the proportional acreage of the applicable parcels is $45,475,363 (shown as assessed value in the HCAD records). For the purposes of this Plan, economic feasibility has been evaluated over the term of the Zone based on the projected taxable value growth as shown in the projected incremental assessed values and projected incremental taxes shown in Exhibit C-1.1 — Exhibit C-1.7 and Exhibit L-1.1 — Exhibit L-1.5. MuniCap 118 This evaluation focuses only on `direct' financial benefits (i.e., projected tax revenues from new development in the Zone) of the Public Improvements to be constructed within the 2023 Annexation of the Zone and does not take into consideration the potential `multiplier effect' of this development towards new development outside the Zone and the non-property tax revenue-related benefits like job creation to the properties within and outside of the Zone. The proposed new development could not occur without the Public Improvements required to be constructed within the 2023 Annexation of the Zone. The total projected value for the Property in the Zone within the City of Baytown of the 2023 Annexation at build-out as of January 1,2045, is$174,631,541,with an incremental value of $129,156,178. The new development is projected to generate approximately $19,049,299 in projected City and County incremental real property taxes for the Property in the Zone, during the anticipated term of the Zone as shown in Table 4-A. Table 4-A Projected Incremental Tax Revenue—2023 Annexation Total Projected Total Projected Total Projected Incremental Tax Incremental Annual Incremental Revenue during Taxable Value as of Tax Revenue(Due the Term of the Jurisdiction January 1,2045 by January 31,2045) TIRZ City of Baytown $174,631,541 $968,671 $13,062,615 Harris County $174,631,541 $443,949 $5,986,684 Chambers County $0.00 $0.00 $0.00 Total $1,412,620 $19,049,299 The City is contributing 100% of the tax revenue generated by the 2023 Annexation within the Zone to be available to pay for Project Costs until the earlier of(i)completion of all Project Costs, or(ii) the term of the Zone expires on December 31, 2044. Upon expiration or termination of the Zone, 100% of all tax revenue generated within the Zone will be retained by the City. Harris County is contributing 75%, not to exceed $0.301100, of the tax revenue generated by the 2023 Annexation within the Zone to be available to pay for specific Project Costs until the earlier of(i) completion of the specified Project Costs and allotment, or (ii) the County's participation expiration on December 31, 2044. Upon expiration or the fulfillment of the County's allotment to the Zone, 100% of all tax revenue generated within the Zone will be retained by Harris County. Table 2-A provides the specific projects and the allocation limits specified by the County. The total projected value of the existing Property in the Zone within the City of Baytown at build- out as of January 1, 2045, is $978,918,866, with an incremental value of $962,626,202. The existing development is projected to generate approximately $187,426,589 in projected City, Harris County,and Chambers County incremental real property taxes for the property in the Zone, during the anticipated term of the Zone as shown in Table 4-B. (the remainder of this page is intentionally left blank) MuniCap 119 Table 4-B Projected Incremental Tax Revenue—Existing Property in the Zone(Prior to 2023 Annexation) Total Projected Total Projected Total Projected Incremental Tax Incremental Annual Incremental Revenue during Taxable Value as of Tax Revenue(Due the Term of the Jurisdiction January 1,2045 by January 31,2045) TIRZ City of Baytown-Original Zone $610,807,826 $4,641,264 $82,406,883 City of Baytown-2020 Annex $368,111,040 $2,859,972 $39,132,121 Harris County-Original Zone $507,719,954 $1,375,624 $32,360,731 Harris County-2020 Annex $503,212,389 $1,466,113 $26,244,751 Chambers County-2017 Annex $97,999,500 $244,051 $7,282,102 Total $10,587,024 $187,426,589 The City is contributing 100% of the tax revenue generated by the new development within the Original Zone to be available to pay for Project Costs until the earlier of(i) completion of all Project Costs, or (ii) the term of the Zone expires on December 31, 2044. The City is also contributing 60%of the tax revenue generated by the new development within the 2017 Annex to be available to pay for Project Costs specific to the Kilgore Park area until the earlier of (i) completion of all Project Costs, or (ii) the City annexes the Property into the City's corporate limits,or(iii)the term of the Zone expires on December 31,2044. Upon expiration or termination of the Zone, 100%of all tax revenue generated within the Zone will be retained by the City. Harris County is contributing 75%,not to exceed$0.30/$100, of the tax revenue generated by the 2023 Annexation within the Zone to be available to pay for specific Project Costs until the earlier of(i) completion of the specified Project Costs and allotment, or (ii) the County's participation expires on December 31,2044.Upon expiration or the fulfillment of the County's allotment to the Zone, 100%of all tax revenue generated within the Zone will be retained by Harris County. Table 2-A provides the specific projects and the allocation limits specified by the County. Chambers County is contributing 60%of the tax revenue generated by the new development within the Zone to be available to pay for Project Costs specific to the Kilgore Park area until the earlier of(i)completion of all Project Costs,or(ii)the City annexes the Property into the City's corporate limits,or(iii)the term of the Zone expires on December 31,2044.Upon expiration or termination of the Zone, 100% of all tax revenue generated within the Zone will be retained by Chambers County. The total projected value of the existing Property and 2023 Annexation within the Zone at build- out as of January 1, 2045, is $1,153,550,408, with an incremental value of$1,091,782,381. The total development is projected to generate approximately $206,475,888 in projected City, Harris County,and Chambers County incremental real property taxes for the property in the Zone,during the anticipated term of the Zone as shown in Table 4-C. MuniCap 120 Table 4-C Total Projected Incremental Tax Revenue Total Projected Total Projected Total Projected Incremental Tax Incremental Annual Incremental Revenue during Taxable Value as of Tax Revenue(Due the Term of the Jurisdiction January 1,2045 by January 31,2045) TIRZ City of Baytown-Original Zone $610,807,826 $4,641,264 $82,406,883 City of Baytown-2020 Annex $368,111,040 $2,859,972 $39,132,121 City of Baytown-2023 Annex $174,631,541 $968,671 $13,062,615 Harris County-Original Zone $507,719,954 $1,375,624 $32,360,731 Harris County-2020 Annex $503,212,389 $1,466,113 $26,244,751 Harris County-2023 Annex $174,631,541 $443,949 $5,986,684 Chambers County-2017 Annex $97,999,500 $244,051 $7,282,102 Total $11,999,644 $206,475,888 These projections assume a three percent(3°o)annual property value inflation factor. As shown in Exhibit C-1.3—Exhibit C-1.6,the total anticipated TIRZ contribution amount towards the Project Costs is projected to be $17,552,628. As a result, the 2023 Annexation is anticipated to generate $1,496,671 (i.e. $19,049,299 - $17,552,628) in excess incremental real property taxes during the anticipated term of the Zone for payment of costs, demonstrating economic feasibility of the proposed TIRZ structure. Table 4-B shows the projected TIRZ contribution by each participating jurisdiction in the 2023 Annexation area. Table 4-D Projected TIRZ Contribution—2023 Annexation Total Projected Total Projected Total Projected Incremental Tax Incremental Tax Incremental Tax Revenue Revenue Revenue during the Available for payment of Retained by the Jurisdiction Term of the TIRV Project Costs' City3 City of Baytown $13,062,615 $13,062,615 $0.00 Harris County $5,986,684 $4,490,013 $1,496,671 Chambers County $0.00 $0.00 $0.00 Total $19,049,299 $17,552,628 $1,496,671 'Represents the projected incremental tax revenues generated from the 2023 Annexation area. 2Represents the total projected incremental tax revenue available for the payment of the Project Costs. ;Represents the total projected incremental tax revenue available for the City and County assuming the TIRZ contribution is fully paid out. As shown in Exhibit L-1.1 — Exhibit L-1.5, the total anticipated TIRZ contribution amount towards the Project Costs is projected to be $169,092,616. As a result, the 2023 Annexation is anticipated to generate$18,333,973 (i.e. $187,426,595 -$169,092,616)in excess incremental real — - NluniCap 121 property taxes during the anticipated term of the Zone for payment of costs,demonstrating economic feasibility of the proposed TIRZ structure. Table 4-E shows the projected TIRZ contribution by each participating jurisdiction for the existing Property within the Zone. Table 4-E Projected TIRZ Contribution—Existing Property in the Zone (Prior to 2023 Annexation) Total Projected Total Projected Total Projected Incremental Tax Incremental Tax Incremental Tax Revenue Revenue Revenue during the Available for payment of Retained by the Jurisdiction Term of the TIRZt Project Costs 2 City3 City of Baytown-Original Zone $82,406,883 $82,406,883 $0.00 City of Baytown-2020 Annex $39,132,121 $39,132,121 $0.00 Harris County-Original Zone $32,360,731 $23,845,502 $8,515,229 Harris County-2020 Annex $26,244,751 $19,338,849 $6,905,903 Chambers County-2017 Annex $7,282,102 $4,369,261 $2,912,841 Total $187,426,589 $169,092,616 $18,333,973 'Represents the projected incremental tax revenues generated from the Property,excluding the 2023 Annexation. 'Represents the total projected incremental tax revenue available for the payment of the Project Costs. RRepresents the total projected incremental tax revenue available for each jurisdiction assuming the TIRZ contribution is fully paid out. 4Assumes a 30'o inflation rate. As shown in Exhibit C-1.2 — Exhibit C-1.6 and Exhibit L-1.1 — Exhibit L-1.5, the total anticipated TIRZ contribution amount towards the Project Costs is projected to be$186,645,244. As a result, the 2023 Annexation is anticipated to generate $19,830,643 (i.e. $206,475,888 - $186,645,244) in excess incremental real property taxes during the anticipated term of the Zone for payment of costs,demonstrating economic feasibility of the proposed TIRZ structure. Table 4-E shows the projected TIRZ contribution by each participating jurisdiction for the total Property within the Zone. MuniCap 122 Table 4-F Total Projected TIRZ Contribution Total Projected Total Projected Total Projected Incremental Tax Incremental Tax Incremental Tax Revenue Revenue Revenue during the Available for payment of Retained by the Jurisdiction Term of the TIRZ' Project Costs 2 City, City of Baytown-Original Zone $82,406,883 $82,406,883 $0.00 City of Baytown-2020 Annex $39,132,121 $39,132,121 $0.00 City of Baytown-2023 Annex $13,062,615 $13,062,615 $0.00 Harris County-Original Zone $32,360,731 $23,845,502 $8,515,229 Harris County-2020 Annex $26,244,751 $19,338,849 $6,905,903 Harris County-2023 Annex $5,986,684 $4,490,013 $1,496,671 Chambers County-2017 Annex $7,282,102 $4,369,261 $2,912,841 Total $206,475,888 $186,645,244 $19,830,643 lRepresents the projected incremental tax revenues generated from the Property,excluding the 2023 Annexation. 2Represents the total projected incremental tax revenue available for the payment of the Project Costs. ;Represents the total projected incremental tax revenue available for each jurisdiction assuming the TIRZ contribution is fully paid out. °Assumes a 3%inflation rate. 4.4. ESTIMATED BONDED INDEBTEDNESS Issuance of notes and bonds by the Zone may occur as tax increment revenues allow. The value and timing of the issuance of notes or bonds will correlate to debt capacity as derived from the projects and revenue schedules included in the Exhibits, as well as actual market conditions for the issue and sale of such notes and bonds. 4.5. ESTIMATED TIME FOR COSTS OR OBLIGATIONS The Project Costs are estimated to be incurred within the term of the TIRZ. The Administrative Costs will be incurred annually and will continue to be collected until all Project Costs are reimbursed or the term of the Zone has expired. 4.6. METHOD OF FINANCING Methods and sources of financing include the issuance of notes and bonds,as well as collaboration with developers,the city, and other entities for grant funding and partnerships. Tax increment will consist of contributions from the City and County. This figure is calculated as follows: 2023 Annexation: a City of Baytown o $0.75000/$100 of assessed valuation • Harris County(subject to total contribution limitation stated in Section III) o $0.30000/$100 of assessed valuation(75%of tax rate up to$0.3/$ 100). - -- - -- - -- - —- --- -- MuniCap 123 Existing Property in the Zone(Prior to 2023 Annexation): • City of Baytown o $0.79515/$100 of assessed valuation • Harris County(subject to total contribution limitation stated in Section III) o $0.30000/$100 of assessed valuation(75%of tax rate up to $0.3/$ 100). • Chambers County o $0.255284/$100 of assessed valuation (60% of tax rate) for the 2017 Annexation area located on Kilgore Parkway. 4.7.TOTAL APPRAISED VALUE The current taxable assessed value of taxable real property in the 2023 Annexation within the Zone is$45,475,363 as shown in Exhibit H. It is estimated that upon expiration of the term of the Zone, the appraised value of taxable real property in the 2023 Annexation within the Zone is estimated to be $174,631,541 as seen in Exhibit I. The current taxable assessed value of the taxable real property currently within the Zone is $978,918,866 as shown in Exhibit I. It is estimated that upon expiration of the term of the Zone, the appraised value of taxable real property currently in the Zone is estimated to be$962,626,202 as seen in Exhibit J. The total current taxable assessed value of the taxable real property currently within the Zone and the property to be added in the 2023 Annexation is $1,153,550,408 as shown in Exhibit I. It is estimated that upon expiration of the term of the Zone, the total appraised value of taxable real property in the Zone and property to be added in the 2023 annexation is estimated to be $1,091,782,381 as seen in Exhibit J. 4.8. CAPTURED APPRAISED VALUE The estimated captured appraised value of the Zone during each remaining year of existence is contained in Exhibit J for each jurisdiction. 4.9. DURATION OF THE ZONE;TERMINATION The Zone was established by the City on August 9,2001 and will terminate on December 31,2044. Harris County' s participation in the Zone currently ends on December 31, 2030, however, it is anticipated that the County' s participation will be extended until 2044. Chambers County's participation ends when the completion of payment for the Kilgore Parkway improvements has been fulfilled. The Zone may terminate at an earlier time designated by subsequent ordinance, or at such time, subsequent to the issuance of proposed revenue bonds,notes or other obligations, if any, that all project costs,bonds,and interest on bonds have been paid in full. (the remainder of this page is intentionally left blank) MuniCap 124 5. ASSUAIPTION AND Limm TioNs The valuation of property for real property tax purposes is determined by the HCAD. This plan attempts to estimate how the HCAD may estimate the value of the subject properties in the future. The values estimated by the HCAD will almost certainly differ from the estimates included in this report. Values can change significantly over time, and these changes can be significantly higher or lower than values in previous years. Determining property values for tax purposes is not as straight forward or as simple as the analysis in this report. Many factors not considered in this report may impact actual future values. Furthermore, property values are not likely to be consistent from year to year. The HCAD often relies on market data to estimate the value of property. Property values can be appealed, competition can be greater, national, or local market conditions can change; in short, there are many factors that can affect the valuation of property. These factors make the projection of future values an imprecise exercise. The successful development of the subject properties is critical to the values estimated in the report. This report has assumed property taxes are paid as due. This report does not include an analysis to determine if the owners of property within the Zone will be able or willing to pay property taxes or if the tax collector will be able to collect unpaid taxes. The actual delinquencies in the payment of real property taxes in the Zone will likely be different than assumed in this report and a significant increase in the failure to pay property taxes would materially affect the tax increment revenues available for the payment of Project Costs. This report estimates future tax increment revenues based on current real property tax rates. Scenarios do not assume real property tax rates in the future will be different from tax rates for the fiscal year 2023 as shown in Table 2-C,Table 2-D, and Table 2-E. Real property tax rates have varied over the years and have declined over the years. Real property tax rates will likely vary significantly in future years and be different than assumed in this report and a significant decrease in real property tax rates could materially affect the tax increment revenues available for the payment of Project Costs. This report includes projections of tax increment revenues based on three percent annual appreciation for real property.Changes in values will not be consistent from year to year. Future values are estimated based on values in 2023.Values in any future year may be less than values in 2023. This report assumes that the subject properties will be developed as projected in this report. A delay in the development of properties or changes to the program of development would reduce tax increment revenues during the years of the delay and could result in there being inadequate tax increment revenues to pay the Project Costs.No analysis has been conducted to determine if the subject properties are likely to be developed as projected. MuniCap 125 Numerous sources of information were relied on in the preparation of this report. These sources are believed to be reliable;however, no effort has been made to verify information obtained from other sources. In summary,this report necessarily incorporates numerous estimates and assumptions with respect to property performance, general and local business and economic conditions, the absence of material changes in the competitive environment and other matters. Some estimates or assumptions will inevitably not materialize,and unanticipated events and circumstances will occur. As a result, actual results will vary from the estimates in this report and the variations may be material. Other assumptions made in the preparation of this report and limiting conditions to this report are as follows: 1. There are no zoning, building, safety, environmental or other federal, state, or local laws, regulations,or codes that would prohibit or impair the development,marketing, or operation of the subject properties in the manner contemplated in this report, and the subject properties will be developed,marketed,and operated in compliance with all applicable laws, regulations, and codes. 2. No material changes will occur in (a) any federal, state, or local law, regulation, or code affecting the subject properties or (b) any federal, state, or local grant, financing, or other programs to be utilized in connection with the subject properties. 3. The local, national, and international economies will not deteriorate and there will be no significant changes in interest rates or in rates of inflation or deflation. 4. The subject properties will be served by adequate transportation, utilities, and governmental facilities. 5. The subject properties will not be subjected to any war, energy crises, embargo, strike, earthquake, flood, fire, or other casualty or act of God. 6. The subject properties will be developed, marketed, and operated in a highly professional manner. 7. There are no existing, impending, or threatened litigation that could hinder the development, marketing, or operation of the subject properties. 8. MuniCap, Inc. does not have expertise in and has no responsibility for legal, environmental, architectural, geological, engineering, and other matters related to the development and operation of the subject properties. (the remainder of this page is intentionally left blank) MuniCap 126 3 6. LIST OF EXHIBITS Unless otherwise stated, all references to"Exhibits"contained in this Plan shall mean and refer to the following exhibits, all of which are attached to and made a part of this Plan for all purposes. Exhibit A-1 Proposed 2023 Annexation(Property to be added to the TIRZ Zone) Exhibit A-2 Proposed 2023 Annexation(Property to be added to the TIRZ Zone) Aerial View Exhibit A-3 Map of the existing Property in the TIRZ Zone Exhibit A-4 Map of the existing Property in the TIRZ Zone with Proposed 2023 Annexation area Exhibit B Description of Property in the Zone Exhibit C-1.1 2023 Annexation - Projected Taxable Value -- All Development Exhibit C-1.2 2023 Annexation- Projected Assessed Value- Summary Exhibit C-1.3 2023 Annexation - Projected Incremental Assessed Values and Incremental Real Property Taxes Available for TIRZ Obligations through the City Exhibit C-1.4 2023 Annexation- Projected Incremental Real Property Taxes Available to the City Exhibit C-1.5 2023 Annexation- Projected Incremental Assessed Values and Incremental Real Property Taxes Available for TIRZ Obligations through the County Exhibit C-1.6 2023 Annexation- Projected Incremental Real Property Taxes Available to the County Exhibit C-1.7 2023 Annexation-Total Projected Incremental Assessed Values and Incremental Real Property Taxes Available for TIRZ Obligations- Summary Exhibit D Map and Description of the Proposed Uses of the Property(Current Concept Plan) Exhibit E List of Parcels in the Zone Exhibit F Project Costs Exhibit G Map of Public Improvements Exhibit H Current Appraised Value of the 2023 Annex(Base Year) Exhibit I Total Projected Taxable Value -All Jurisdictions Exhibit J Total Current Captured Appraised Value - All Jurisdictions Exhibit K Projected Increment Revenues Available for TIRZ Obligations -All Jurisdictions Exhibit L-1.1 Projected Increment Revenues- City, Original Zone+Hunt Exhibit L-1.2 Projected Increment Revenues-City, 2020 Amendment Exhibit L-1.3 Projected Increment Revenues -Harris County, Original Zone Exhibit L-1.4 Projected Increment Revenues- Harris County,2020 Amendment Exhibit L-1.5 Projected Increment Revenues -Chambers County, 2017 Amendment MuniCap 127 EXHIBIT A-1 PROPOSED 2023 ANNEXATION (PROPERTY TO BE ADDED TO THE TIRZ ZONE) �ul~ -ail :•:I,�eli�i.S�� L � - _ tf �{■��+��._.�.ya + �f>k I41. �.�11�f5+�` �I ��..-.� ��r�'1c.+�'�•i�� '��F��-' r� }•ttl ,I41 ,I4 R .ti . ir�.�.�Y � �. •�� .�� r;'.= [I tlLlli �r•.^. yw•v.r ~ `!�'; .'i`�r;�•�•��•Ilt�y\cif � r••�r;�,f �� tier°.;ii��tz:.i�..:Y [.� +�T-� .•!� ',,•Tit .'i ss� 1� .� ;,�,�'t, n��F'� •,�C}Lr, 1 alb00. ti 1� 10 dIA ITIM . �. all alk s oil 15, J 1 RO5� lfi tl did►tTi•Eit'�►L r►1 r EXHIBIT A-2 PROPOSE❑ 2023 ANNEXATION-AERIAL VIEW (PROPERTY TO BE ADDED TO THE TIRZ ZONE) Proposed 2023 Annexation (Property to be added to the TIRZ) -Aerial ON I - �s v Source:Bing AI y ty 1 t. �I. • r � • ;ti7-�' �� -��-.�+y 1W" { .tip ,�� .p EXHIBIT A-3 MAP OF THE EXISTING PROPERTY IN Til E TIRZ ZONE Existing City of Baytown TIRZ#1 Property Ccdas87you k �s.p�n ki�i Rd tamplu ,uy�� ghlords x x Ile Itoll PI r � Vol b J ,;• 4 Eldon� nld�eedl x,N SC � �Xlltl°ta P✓t� 5 s [a Chandl.r Il~ Ivtstst Atbgraetm' pro McNair Coady s r a a ua Cedar Bayou 1� 5 pal 56y .. Av r�l r Ov Sln Rd �1 �•, ... Ma�sat toR!P k 1 galllggbsb�Or 1. K;• �i Y �d C]ry er sieu;toot sPB.Ttxas i4rks&NAld IAs;COhIAND.Esr4 F�Eft�Garmv+.Fapt9u+r0. Pao b+t D� o ,'-�y � SafeGraah GeoT*6no og':h c USGS EPA NPS,USCbk E;i NASA NGA US. Kara St Parkst. � vFEMA N EXHIBIT A-4 MAP OF THE EXISTING PROPERTY IN THE TIRZ ZONE WITH PROPOSED 2023 ANNEXATION Existing City of Baytown TIRZ#1 Property ajylowlSosw Ail s Orvatir 4k -Z East FWv OA ft� A 90 ell RO Park( q lortWIPAIld McNalpr Rd tU,.� d> Ile- Rd Coady ORA Cedar 134you i ypM 545 2 IV 'W 'A'sV4 0 05 1 2 miki 11 T*xas Pail%& -I*CONANP-Esr%HERE c*rm,Foumquark S4IIG=:T-=-I tne.MEn/N-A*%k IUWS.EPA NK UWA E�NASA,NM uSG-',! PjFk St FEMA Legend (7_) 2023 Annexation ED Existing TIRZ Boundary EXHIBIT B DESCRIPTION OF THE PROPERTY LEGAL DESCRIPTION OF THE PROPERTY Property IDt Legal Description Acres2 1150280010001 LT 1 BLK 1 SAN JACINTO MALL 2ND PAR R/P 80.66 1150280000003 LT B SAN JACINTO MALL 9.80 1342930010001 LT 1 BLK 1 TEXAS ROADHOUSE BAYTOWN 0.99 1150280000007 LT F SAN JACINTO MALL 14.92 1150280000011 TR J SAN JACINTO MALL 1.48 1150280000015 TR J3 SAN JACINTO MALL 0.51 1150280000017 TR J2 SAN JACINTO MALL 0.34 1150280000013 TR J 1 SAN JACINTO MALL 0.41 1263060000001 RESERVE CHILIS RESTAURANT AMEND 0.97 1351940010001 LT 1 BLK 1 PANDA EXPRESS RESTAURANT BAYTOWN 0.99 1263070000001 RESERVE JOHNNY CARINOS RESTAURANT AMEND 1.04 0591460000006 TR 5A ELENA FRUIT& COTTON FARMS D 6.91 0591460000005 TR 6A ELENA FRUIT&COTTON FARMS D 6.25 Total 125.282 'The tax parcels shown above comprise the proposed addition to the Tax Increment Reinvestment Zone in 2023. 2According to the Harris Central Appraisal District. EXHIBIT C-1.1 2023 ANNEXATION-PROJECTED TAXABLE VALUE-ALL DEVELOPMENT Reinvestment Zone Number One City of Baytown, Texas Exhibit C-1.1: 2023 Annexation-Projected Taxable Value-All Development 3.0% Commercial-Other Commercial-Big Box Year Assessed Inflation Value Per Projected Value Per Projected Ending As Of Factor' Units' Unit" Assessed Value Units Unit" Assessed Value 31-Dec-24 1-Jan-25 100°0 0 $269 $0 0 $97 $0 31-Dec-25 I-Jan-26 103% 119,940 $277 $33,191,548 0 $100 $0 31-Dec-26 1-Jan-27 106% 119,940 $285 $34,187,294 0 $103 $0 31-Dec-27 1-Jan-28 109% 119,940 $294 $35,212,913 0 $106 $0 31-Dec-28 1-Jan-29 113% 194,963 $302 $58,955,908 265,535 $110 $29,089,530 31-Dec-29 1-Jan-30 116% 194,963 $311 $60,724,586 265,535 $113 $29,962,216 31-Dec-30 1-Jan-31 119% 194,963 $321 $62,546,323 265,535 $116 $30,861,083 31-Dec-31 1-Jan-32 123% 194,963 $330 $64,422,713 320,535 $120 $38,370,907 31-Dec-32 1-Jan-33 127% 194,963 $340 $66,355,394 320,535 $123 $39,522,035 31-Dec-33 1-Jan-34 130% 194,963 $351 $68,346,056 320,535 $127 $40,707,696 31-Dec-34 1-Jan-35 134% 194,963 $361 $70,396,438 320,535 $131 $41,928,927 31-Dec-35 I-Jan-36 138% 194,963 $372 $72,508,331 320,535 $135 $43,186,794 31-Dec-36 1-Jan-37 143% 194,963 $383 $74,683,581 320,535 $139 $44,482,398 31-Dec-37 I-Jan-38 147% 194,963 $395 $76,924,088 320,535 $143 $45,816,870 31-Dec-38 1-Jan-39 151% 194,963 $406 $79,231,811 320,535 $147 $47,191,376 31-Dec-39 I-Jan-40 156% 194,963 $419 $81,608,765 320,535 $152 $48,607,117 31-Dec-40 1-Jan-41 160% 194,963 $431 $84,057,028 320,535 $156 $50,065,331 31-Dec-41 1-Jan-42 165% 194,963 $444 $86,578,739 320,535 $161 $51,567,291 31-Dec-42 1-Jan-43 170% 194,963 $457 $89,176,101 320,535 $166 $53,114,310 31-Dec-43 I-Jan-44 175% 194,963 $471 $91,851,384 320,535 $171 $54,707,739 31-Dec-44 1-Jan45 181% 194,963 $485 $94,606,926 320,535 $176 $56,348,971 Total MuniCap,Inc. According to the Hams County Appraisal District property is assessed as of January I annually. '-Assumes an annual inflation factor of 3.0%. EXHIBIT C-1.2 2023 ANNEXATION-INCREMENTAL ASSESSED VALUES-SUMMARY Reinvestment Zone Number One City of Baytown, Texas Exhibit C-1.2: 2023 Annexation - Projected Assessed Value - Sumr Development 3.0% Total Year Assessed Inflation Projected Ending As Of Factor Assessed Value 31-Dec-24 1-Jan-25 100% $0 31-Dec-25 1-Jan-26 103% $33,191,548 31-Dec-26 1-Jan-27 106% $34,187,294 31-Dec-27 1-Jan-28 109% $35,212,913 31-Dec-28 1-Jan-29 113% $88,045,439 31-Dec-29 1-Jan-30 116% $90,686,802 31-Dec-30 1-Jan-31 119% $93,407,406 31-Dec-31 1-Jan-32 123% $102,793,620 31-Dec-32 1-Jan-33 127% $105,877,429 31-Dec-33 1-Jan-34 130% $109,053,752 31-Dec-34 1-Jan-35 134% $112,325,364 31-Dec-35 I-Jan-36 138% $115,695,125 31-Dec-36 1-Jan-37 143% $119,165,979 31-Dec-37 1-Jan-38 147% $122,740,958 31-Dec-38 1-Jan-39 151% $126,423,187 31-Dec-39 1-Jan-40 156% $130,215,883 31-Dec-40 I-Jan-41 160% $134,122,359 31-Dec-41 1-Jan-42 165% $138,146,030 31-Dec-42 1-Jan-43 170% $142,290,411 31-Dec-43 1-Jan-44 175% $146,559,123 31-Dec-44 1-Jan-45 181% $150,955,897 MuniCap, Inc. 'According to the Harris County Appraisal District property is assessed as of January 1 annually. 2Assumes an annual inflation factor of 3.0%. EXHIBIT C-1.3 2023 ANNEXATION-PROJECTED INCREMENTAL ASSESSE❑ VALUE & INCREMENTAL REAL PROPERTY TAXES AVAILABLE FOR TIRZ OBLIGATIONS THROUGH THE CITY Refuvestment Zoue Number One City ojBaytown,Terns Exhibit C-1.3:2023 Annexation- Projected Incremental Assessed Value&Incremental Real Property Taxes Available for TIRZ Obligations through the City City of Development Baytown Real Total Percent Total Available Year Assessed Inflation Total Projected Residual Estimated Property Tax Rate Incremental Avalable for Incremental Ending As of Factor Assessed Value' Assessed Value3 Base Value Incremental Value (Per S100 A.V.)' Tax Revenues rIRZ Obligations Tax Revenues 31-Dec-24 I-Jan-25 100% SO S45,475,363 (S45,475,363) SO S0.750000 $0 100.00% s0 31-Dec-25 I-Jan-26 103% S33,191,548 S36,547,050 (S45,475,363) S24,263,235 S0.750000 S181,974 100.00% S181,974 31-Dec-26 1-Jan-27 106% S34,187,294 S36,547,050 (S45,475,363) $25,258,982 S0.750000 S189,442 100.00% S189,442 31-Dec-27 I-Jan-28 109% S35,212,913 S36,547,050 (S45,475,363) S26,284,601 S0.750000 S197,135 100.00% S197,135 31-Dec-28 1-Jan-29 113% S88,045,439 $26,330,871 (S45,475,363) S68,900,947 S0.750000 S516,757 100.00% S516,757 31-Dec-29 I-Jan-30 116% S90,686,802 S26,330,871 (S45,475,363) S71,542,310 S0.750000 S536,567 100.00% S536,567 31-Dec-30 I-Jan-31 119% S93,407,406 S26,330,871 (S45,475,363) $74,262,914 S0.750000 S556,972 100.00% S556,972 31-Dec-31 I-Jan-32 123% S102,793,620 $23,675,644 (S45,475,363) S80,993,902 S0.750000 S607,454 100.00% S607,454 31-Dec-32 I-Jan-33 127% S105,877,429 $23,675,644 (S45,475,363) S84,077,710 S0.750000 S630,583 100.00% S630,583 31-Dec-33 I-Jan-34 130% S109,053,752 S23,675,644 (S45,475,363) S87,254,033 S0.750000 S654,405 100.00% S654,405 31-Dec-34 I-Jan-35 134% S112,325,364 $23,675,644 ($45,475,363) S90,525,646 S0.750000 S678,942 100.00% S678,942 31-Dec-35 I-Jan-36 138% S115,695,125 S23,675,644 (S45,475,363) S93,895,407 S0.750000 S704,216 100.00% S704,216 31-Dec-36 I-Jan-37 143% S119,165,979 S23,675,644 (S45,475,363) S97,366,261 S0.750000 $730,247 100.00,e $730,247 31-Dec-37 1-Jan-38 147% S122,740,958 $23,675,644 (S45,475,363) S100,941,240 S0.750000 S757,059 100.00% S757,059 31-Dec-38 I-Jan-39 151% S126,423,187 S23,675,644 (S45,475,363) S104,623,469 S0.750000 S784,676 100.0010 S784,676 31-Dec-39 1-Jan-40 1561/6 $130,215,883 S23,675,644 (S45,475,363) S108,416,164 S0.750000 S813,121 100.001. S813,121 31-Dec40 I-Jan-41 160% S134,122,359 S23,675,644 (S45,475,363) S112,322,641 S0.750000 S842,420 100.00% S842,420 31-Dec4l 1-Jan-42 16506 S138,146,030 S23,675,644 (S45,475,363) S116,346,312 S0.750000 $872,597 100.001. S872,597 31-Dec-42 1-Jan-43 170% S142,290,411 S23,675,644 (S45,475,363) S120,490,692 $0.750000 S903,680 100.00°8 S903,680 31-Dec-43 I-Jan-44 175% S146,559,123 S23,675,644 (S45,475,363) S124,759,405 S0.750000 S935,696 100.00% S935,696 31-Dec-44 1-Ian-45 181Ge S150,955,897 S23,675,644 (S45,475,363) S129,156,178 S0.750000 S968,671 100.00% S968,671 Total S13,062,615 $13,062,615 AhmlCnp,Inc hops mnmicopshmepo.nie msites ALLSTAFFTFXAStesas Bytoun TIRZs77RZNo.18th AmentlethmiRestatrtl PFPProjectiomtBiWtoun77RZ-8th Ammtbnem Projection No 90xlsr/F-WIBITC-13- 26M,0.23 'Assumes an annual inflation factor of 3.0. 'See Exhibit C4 2. 'Represents the value of land after development of Phase 81,Phase 82,Phase 83,and Future Phases respecinely aSec Schedule IX 'Represents the City of Baytown real property to rate for tax year 2023.Some(lams County Goose Creek ISD Tax Anessor-Collector °Assumes 100',of the ncrenenul in revenues are available for the repayment of TIRZ obligations EXHIBIT C-1.4 2023 ANNEXATION -PROJECTED INCREMENTAL REAL PROPERTY TAXES AVAILABLE TO THE CITY Reinvestment Zone Number One City ojBaytown,Teras Exhibit C-1.4:_2023_Annexation-Proiected Incremental Real Property Taxes Available to the City City of Total Development Bond Baytown Real Total Percent Incremental Year Year Inflation Total Projected Residual Estimated Property Tax Rate Incremental Available for Taxes Available Ending Ending Factor Assessed Valuer Assessed Valuer Base Value" Incremental Value (Per S100 A.V.)4 Tax Revenues City, to the City 31-Dec-24 I-Jan-25 100% SO $45,475,363 (S45,475,363) SO $0.750000 $0 0.00% SO 31-Dec-25 I-Jan-26 103% 533,191,548 S36,547,050 (S45,475,363) S24,263,235 S0.750000 S181,974 0.00% SO 31-Dec-26 I-Jan-27 106% S34,187,294 $36,547,050 (S45,475,363) S25,258,982 S0.750000 S189,442 0.000/0 SO 31-Dec-27 1-Jan-28 109% S35,212,913 S36,547,050 (S45,475,363) S26,284,601 S0.750000 S197,135 0.00% $0 31-Dec-28 I-Jan-29 113% S88,045,439 $26,330,871 (S45,475,363) $68,900,947 S0.750000 $516,757 0.00% SO 31-Dec-29 I-Jan-30 116% S90,686,802 S26,330,871 (S45,475,363) S71,542,310 S0.750000 S536,567 0.00% SO 31-Dec-30 I-Jan-31 119% S93,407,406 $26,330,871 (S45,475,363) S74,262,914 $0.750000 S556,972 0.00% SO 31-Dec-31 I-Jan-32 123% S102,793,620 S23,675,644 (S45,475,363) $80,993,902 S0.750000 S607,454 0.00% $0 31-Dec-32 1-Jan-33 127% S105,877,429 S23,675,644 ($45,475,363) S84,077,710 S0.750000 S630,583 0.00% $0 31-Dec-33 I-Jan-34 130% S109,053,752 S23,675,644 (S45,475,363) S87,254,033 $0.750000 S654,405 0.00% so 31-Dec-34 I-Jan-35 134% S112,325,364 S23,675,644 (S45,475,363) S90,525,646 S0.750000 $678,942 0.00% SO 31-Dec-35 1-Jan-36 138% S115,695,125 S23,675,644 ($45,475,363) S93,895,407 S0.750000 $704,216 0.00% SO 31-Dec-36 I-Jan-37 143% $119,165,979 S23,675,644 (S45,475,363) S97,366,261 S0.750000 S730,247 0.00% SO 31-Dec-37 I-Jan-38 141% S122,740,958 S23,675,644 (S45,475,363) S100,941,240 S0.750000 S757,059 0.00% SO 31-Dec-38 I-Jan-39 151% S126,423,187 S23,675,644 (S45,475,363) S104,623,469 S0.750000 S784,676 0.00% SO 31-Dec-39 I-Jan-40 156% S130,215,883 S23,675,644 (S45,475,363) S108,416,164 S0.750000 S813,121 0.00% SO 31-Dec40 I Jan-41 1601/6 S134,122,359 S23,675,644 (S45,475,363) S112,322,641 S0.750000 S842,420 0.00% So 31-Dec41 1-Jan-42 165% S138,146,030 S23,675,644 ($45,475,363) S116,346,312 S0.750000 S872,597 0.00% SO 31-Dec-42 I-Jan-43 170% S142,290,411 S23,675,644 (S45,475,363) S120,490,692 $0.750000 S903,680 0.00% SO 31-Dec43 1-Jan-44 175% S146,559,123 S23,675,644 (S45,475,363) $124,759,405 S0.750000 S935,696 0.00% SO 31-Dec-44 I-Jan45 181% S150,955,897 $23,675,644 (S45,475,363) S129,156,178 S0.750000 S968,671 0.000/0 SO Total S 13,062,615 SO Ahoucap Inc 'Assumes an annual maatron factor of 3.0'. 'See Exhrbn C.1.2. 'Represents the value of land after development of Phase p I,Phase tt2,Phase p3,and Future Phases respectively 'See Schedule IX. 'Represents the City of Baytown real property tax rate for tax year 2023 Source flares County Goose Creek ISD Tax Ass—or-Collector 'Assumes 100'.of the incrernenial tax m%vnws are available for the repayment of TIRZ obligations EXHIBIT C-1.5 2023 ANNEXATION-PROJECTED INCREMENTAL ASSESSED VALUE & INCREMENTAL REAL PROPERTY TAXES AVAILABLE FOR TIR7 OBLIGATIONS THROUGH THE COUNTY Reinvestment Zone Number One City of Baytown,Terns Exhibit C-1.5:2023 Annexation-Projected Incremental Assessed Value&Incremental Real Property Taxes Available for TIRZ Obligations through the County Development Ilarris County Real Total Percent Total Available Year Assessed Inflation Total Projected Residual Estimated Property Tax Rate Incremental Avalable for Incremental Ending As of Faclor Assessed Value' Assessed Value Base Value' Incremental Value (Per SI00 A.V.)e Tax Revenues rIRZ Obligations Tax Revenues 31-Dec-24 I-Jan-25 1000/ SO S45,475,363 ($45,475,363) SO SO.343730 SO 75.001/o SO 31-Dec-25 I-Jan-26 103% S33,191,548 536,547,050 (545,475,363) 524,263,235 SO.343730 583,400 75.00% S62,550 31-Dec-26 1-Jan-27 106% 534,187,294 536,547,050 (545,475,363) $25,258,982 50.343730 S86,823 75.00% S65,117 31•Dec 27 I-Jan-28 109% S35,212,913 536,547,050 (S45,475,363) 526,284,601 $0.343730 590,348 75.00% S67,761 31-Dec-28 1-Jan-29 113% 588,045,439 526,330,871 (545,475,363) $68,900,947 $0.343730 5236,833 75.00% 5177,625 31-Dec-29 I-lan-30 116% 590,686,802 526,330,871 (545,475,363) 571,542,310 50.343730 5245,912 75,00% 5184,434 31-Dec-30 I-Jan-31 119% S93,407,406 526,330,871 (545,475,363) 574,262,914 $0.343730 $255,264 75.00% S191,448 31-Dec-31 I-Jan-32 123% 5102,793,620 $23,675,644 (S45,475,363) 580,993,902 SO.343730 5278,400 75.00% 5208,800 31•Dec-32 I-Jan-33 127% 5105,877,429 523,675,644 (545,475,363) 584,077,710 $0.343730 5289,000 75.00% 5216,750 31-Dec-33 I-Jan-34 130% 5109,053,752 S23,675,644 (545,475,363) S87,254,033 50.343730 5299,918 75.00% 5224,939 31-Dec-34 I-Jan-35 134% 5112,325,364 523,675,644 (545,475,363) 590,525,646 50.343730 S311,164 75.00% $233,373 31-Dec-35 I-Jan-36 138% $115,695,125 523,675,644 ($45,475,363) 593,895,407 $0.343730 5322,747 75.00% 5242,060 31-Dec-36 I-Jan-37 143% S119,165,979 $23,675,644 (545,475,363) $97,366,261 $0.343730 $334,677 75.00% 5251,008 31-Dec-37 I-Jan-38 147% 5122,740,958 523,675,644 (545,475,363) 5100,941,240 50.343730 S346,965 75.00% 5260,224 31-Dec-38 1-Jan-39 151aa 5126,423,187 S23,675,644 (545,475,363) $104,623,469 $0.343730 5359,622 75.00% 5269,717 31-Dec-39 I-Jan-40 15600 S130,215,883 523,675,644 (545,475,363) 5108,416,164 $0.343730 5372,659 75.00% S279,494 31-Dec4O I-Jan-41 160% 5134,122,359 523.675,644 (S45,475,363) 5112,322,641 50.343730 $386,087 75.00% 5289,565 31-Dec41 1-Jan-42 165°o S138,146,030 $23,675,644 (545,475,363) 5116,346,312 50.343730 S399,917 75.00% 5299,938 31-Dec42 1-Jan-43 170% 5142,290,411 523,675,644 (S45,475,363) 5120,490,692 50.343730 5414,163 75.00% 5310,622 31-Dec-43 1-Jan-44 175 S146,559,123 S23,675,644 (545,475,363) 5124,759,405 50.343730 5428,836 75.00% 5321,627 31-Dec-44 I-Jan-45 181% $150,955,897 $23,675,644 (545,475,363) 5129,156,178 50.343730 5443,949 75.00% 5332,961 Total 55,986,684 54,490,013 Alimicap Inc hops mrmicapshmepoint coin sites ALLSTAFFIFFXAStexas Booloun T1RZs 77RZNo.18th Amendedand Restated PFP Protect-/Bs0aoun 77RZ-81h AmenAnent Projection No 90r1s:JFX711BITC-1J. 26-Mai-33 'Assumes an annual niaation factor of 3 0% 'S.hAd,tt C-12 'Represents the value of land after deselopment of Phase p 1,Phase Q.Phase p3,and Future Phases respectively 4Sec Schedule IX 'Represents the City of Baytou n real property ux rate for tax year 2023.Source Harris County Goose Creek ISD Tax Assessor-Collector 'Assumes 100•.of the incremental tax revenues are available for the repayrnent of TIRZ obligations EXHIBIT C-1.6 2023 ANNEXATION-PROJECTED INCREMENTAL REAL PROPERTY TAXES AVAILABLE TO THE COUNTY Reinvestment Zone Number One City oJBaytown,Teras Exhibit C-1.6.2023 Annexation-Projected Incremental Real Property Taxes Available to the County Total Development Bond Ilarris County Real Total Percent Incremental Year Year Inflation Total Projected Residual Estimated Property Tax Rate Incremental Available for Taxes Available Ending Ending Factor Assessed Value' Assessed Value3 Base Value Incremental Value (Per S100 A.V.) Tax Revenues County" to the County 31-Dec-24 I-Jan-25 1000. s0 S45,475,363 (S45,475,363) SO $0.343730 s0 25.00*a SO 31-Dec-25 I-Jan-26 103,. S33,191,548 S36,547,050 (S45,475,363) S24,263,235 $0.343730 S83,400 25.00*a S20,850 31-Dec-26 I-Jan-27 1060o S34,187,294 S36,547,050 (S45,475,363) S25,258,982 S0.343730 $86,823 25.000o S21,706 31-Dec-27 1-Jan-28 109'Y, S35,212,913 S36,547,050 (S45,475,363) S26,284,601 S0.343730 S90,348 25.00*. S22,587 31-Dec-28 I-Jan-29 113% S88,045,439 S26,330,871 ($45,475,363) S68,900,947 S0.343730 S236,833 25.00*. S59,208 31-Dec-29 I-Jan-30 116% S90,686,802 S26,330,871 (S45,475,363) S71,542,310 S0.343730 S245,912 25.00*. S61,478 31-Dec-30 1-Jan-31 119% S93,407,406 S26,330,871 (S45,475,363) $74,262,914 S0343730 S255,264 25.00% S63,816 31-Dec-31 I-Jan-32 123% S102,793,620 S23,675,644 (S45,475,363) S80,993,902 S0.343730 S278,400 25.00% S69,600 31-Dec-32 I-Jan-33 127% S105,877,429 S23,675,644 (S45,475,363) S84,077,710 S0.343730 S289,000 25.008/o S72,250 31-Dec-33 I-Jan-34 130% S109,053,752 $23,675,644 (S45,475,363) S87,254,033 S0.343730 S299,918 25.00% S74,980 31-Dec-34 1-Jan-35 134% S112,325,364 S23,675,644 ($45,475,363) $90,525,646 S0.343730 $311,164 25.00% S77,791 31-Dec-35 I-Jan-36 138% S115,695,125 S23,675,644 (S45,475,363) S93,895,407 S0.343730 S322,747 25.00% S80,687 31-Dec-36 I-Jan-37 143% S119,165,979 $23,675,644 (S45,475,363) S97,366,261 S0.343730 $334,677 25.00% S83,669 31-Dec-37 I-Jan-38 147% S122,740,958 S23,675,644 (S45,475,363) S100,941,240 S0.343730 S346,965 25.00% S86,741 31-Dec-38 1-Jan-39 151% S126,423,187 S23,675,644 (S45,475,363) $104,623,469 S0.343730 S359,622 25.006/ S89,906 31-Dec-39 I-Jan-40 156% S130,215,883 S23,675,644 (S45,475,363) S108,416,164 S0.343730 S372,659 25.00% $93,165 31-Dec40 I-Jan-41 1600o S134,122,359 S23,675,644 (S45,475,363) $112,322,641 S0.343730 S386,087 25.00% $96,522 31-Dec41 1-Jan-42 165ao S138,146,030 S23,675,644 (S45,475,363) S116,346,312 S0.343730 S399,917 25.00% S99,979 31-Dec42 1-Jan-43 1706o S142,290,411 S23,675,644 (S45,475,363) S120,490,692 $0.343730 S414,163 25.000/6 $103,541 31-Dec43 I-Jan-44 175'. S146,559,123 S23,675,644 (S45,475,363) $124,759,405 S0.343730 S428,836 25.00% S107,209 31-Dec44 1-Jan-45 l8loo $150,955,897 S23,675,644 (S45,475,363) S129,156,178 S0.343730 S443,949 25.00% $110,987 Total S5,986,684 $2,841,050 nfivricap me 'Assiunes an annual inflation factor of 3 0-, 'See Exhibn C.1 2 'Represents the value of land after development of Phase p I,Phase k2,Phase p3,and Future Phases respectively 4See Schedule IX 'Represents the Harr"County real property tax rate for tax year 2023 including the do not exceed SO 30/S I OO.Some Harris County Goose Crcck ISD Tax Assessor-Collector. 'Assumes 75•.of the incremental tax revenues are available for the repayment of TIRZ obligations EXIHBIT C-1.7 2023 ANNEXATION-TOTAL PROJECTED INCREMENTAL ASSESSED VALUES AND INCREMENTAL REAL PROPERTY TAXES AVAILABLE FOR TIRZ OBLIGATIONS-SUMMARY Reinvestment Zone Number One City of Baytown, Texas Exhibit C-1.7: 2023 Annexation - Total Projected Incremental Assessed Values and Incremental Real Property Taxes Available for TIRZ City County Development Total Available Total Available Total Available Year Incremental Incremental Incremental Ending Tax Revenues] Tax Revenues Tax Revenues 31-Dec-24 $0 $0 $0 31-Dec-25 $181,974 $62,550 $244,524 31-Dec-26 $189,442 $65,117 $254,559 31-Dec-27 $197,135 $67,761 $264,896 31-Dec-28 $516,757 $177,625 $694,382 31-Dec-29 $536,567 $184,434 $721,002 31-Dec-30 $556,972 $191,448 $748,420 31-Dec-31 $607,454 $208,800 $816,255 31-Dec-32 $630,583 $216,750 $847,333 31-Dec-33 $654,405 $224,939 $879,344 31-Dec-34 $678,942 $233,373 $912,315 31-Dec-35 $704,216 $242,060 $946,276 31-Dec-36 $730,247 $251,008 $981,255 31-Dec-37 $757,059 $260,224 $1,017,283 31-Dec-38 $784,676 $269,717 $1,054,393 31-Dec-39 $813,121 $279,494 $1,092,615 31-Dec-40 $842,420 $289,565 $1,131,985 31-Dec-41 $872,597 $299,938 $1,172,535 31-Dec-42 $903,680 $310,622 $1,214,302 31-Dec-43 $935,696 $321,627 $1,257,322 31-Dec-44 $968,671 $332,961 $1,301,633 Total $13,062,615 $4,490,013 17,552,628 MuniCap, Inc. lSee Exhibit C-1.3 2See Exhibit C-1.5 EXHIBIT D MAP AND DESCRIPTION OF THE PROPOSED USES OF THE PROPERTY (CURRENT CONCEPT PLAN) Vicinity . • Ilk • ,' p l 9��s . .. .. ,�:,,�,,,�. ... 'ram• - V ., i� _o$;^ _�l .. � ••� �I gam! e a p ..1 '�,� 4��' i r�oJ � . �. li ��S ast Fwy pprox. 60 Acre ornmercial ® t�3 - :.,��'� '•..,gym e �evelopment �. ate.: EaSI F.v!Y. � _ ;y:i�1' 1 ''.:=s i'�i_;..��,[•1� ��• � ..': Developed in rei__�•- - ,u,n - +�'.. -- ' i � � �:tiX �{ .:r-•��.+Z' _ __F.ems. �� Nfed Oct S 2022 �^ �•��^•°,' 1- ��s � - •as�� 112plRld .. DEVELOPMENT SYNOPSIS ------------------------ ij -------- -------------- VICINITY MAP r�i --------- ------_______--------- - .7.7--= 91 go 3: V No HIM ---------------- L SITE SAN JACINTO MARKETPLACE RETAIL =-- FIDELIS t Go 100 200 BAYTOWN,TEXAS 27 EXHIBIT E LIST OF PARCELS IN THE ZONE (See Exhibit H) EXHIBIT F PROJECT COSTS ESTIMATED PROJECT COSTS Public Improvements Total Eastpoint Sections 2, 3, 4 $1,564,432 Country Club Manor $2,453,537 Baker Road 2008 and 2012 $518,657 Hunt Road $7,000,000 John Martin $3,000,000 San Jacinto Boulevard $19,000,000 Sjolander Road $6,500,000 Public Roadways $20,100,000 Water, Wastewater, & Drainage Improvements $11,000,000 Fire, Police, and EMS to support residential $4,700,000 Engineering and Legal $8,000,000 Kilgore Park Sanitary Sewer $3,650,000 Kilgore Park Storm Sewer/Drainage $6,160,000 Kilgore Parkway/Other Roads $7,500,000 Kilgore Park Water $820,000 Cedar Bayou Lynchburg Road $20,000,000 John Martin Road(Cedar Bayou Lynchburg to Wallisville) $20,000,000 Zone Administration and Project Management $2,500,000 Total public improvement costs financed $144,466,626 'Provided by City. EXHIBIT G MAP OF PUBLIC IMPROVEMENTS EXHIBIT H CURRENT APPRAISED VALUE OF THE 2023 ANNEX (BASE YEAR) Reinvestment Zone Number One City of Baytown, Texas Exhibit H:Current Appraised Value of the 2023 Annex(Base Year 2023) Property ID' Property Type Owner Property Address Value As Oe Taxable Value 1150280010001 Commercial SAN JACINTO RETAIL ASSOCIATES LLC 6801 Garth Rd,Baytown,Texas 2023 $23,892,140 1150280000003 Commercial SAN JACINTO RETAIL ASSOCIATES LLC 4900 East Freeway 2000,Baytown,Texas 2023 $3,053,266 1342930010001 Commercial MEMORIAL NORTHWEST PAV LTD 6615 Garth Rd,Baytown,Texas 2023 $1,894,927 1150280000007 Commercial SAN JACINTO RETAIL ASSOCIATES LLC 5000 San Jacinto Mall,Baytown,Texas 2023 $4,618,718 1150280000011 Commercial ROSS DAVID TRUSTEE ■ 4710 East Freeway,Baytown,Texas 2023 $1,873,273 1150280000015 Commercial ROSS DAVID TRUSTEE 4808 East Freeway#I-10,Baytown,Texas 2023 $1,187,666 1150280000017 Commercial HIGHWAY 6 INTERESTS LLC 4750 East Freeway,Baytown,Texas 2023 $986,992 1150280000013 Commercial GITP TX REALTY LLC 8100 San Jacinto Mall,Baytown,Texas 2023 $1,150,436 1263060000001 Commercial MEMORIAL NORTHWEST PAVILION LTD 5050 East Freeway,Baytown,Texas 2023 $1,644,441 1351940010001 Commercial MEMORIAL NORTHWEST PAVILION LTD 5050 East Freeway,Baytown,Texas 2023 $2,177,178 1263070000001 Commercial MEMORIAL NORTHWEST PAVILION LTD 7017 East Freeway,Baytown,Texas 2023 $1,993,313 0591460000006 Commercial CAREYBLANCO MANAGEMENT LP 0000 Archer Rd.,Baytown,Texas 2023 $526,750 0591460000005 Commercial CAREYBLANCO MANAGEMENT LP 5901 San Jacinto Blvd.,Baytown,Texas 2023 $476,263 Total $45,475,363 Mum{op Inc. m cam sties ALLSTAFF 1 EXAS texas Baytown 17RZs T1RZ No.1 81h Amended and Restausd PFP Projections[Baytou n T1RZ•8th Amendment Projection No.9.0.x1sx]Exhib11 H- 16-May-13 The tax parcels shown above comprise the proposed addition to the Tax Increment Reinvestment Zone. 'Assumes Tax Increment Reinvestment Zone is amended in 2023.As a result,the base value will be based on the value as of January 1,2023. 3According to the Harris County Appraisal District records DRAFT Page 12 DRAFT EXHIBIT I TOTAL PROJECTED TAXABLE VALUE-ALL JURISDICTIONS Reinvestment Zone Number One City of Baytown, Texas Exhibit I: Total Projected Taxable Value-All Jurisdictions City of Baytown Hams County Chambers Count} Total Projected Tax Year Original Zone 2020 Annex 2023 Annex Original Zone 2020 Annex 2023 Annex 2017 Annex Taxable Value 31-Dec-20 $300,476,976 $1,093,651 $0 $249,764,574 $4,534,364 $0 $48,209,260 $604,078,825 31-Dec-21 $309,491,285 $1,126,461 $0 $257,257,511 $4,670,395 $0 $49,655,538 $622,201,190 31-Dec-22 $318,776,024 $1,126,461 $0 $264,975,237 $14,670,395 $0 $51,145,204 $650,693,320 31-Dec-23 $328,339,305 $3,126,461 $0 $272,924,494 $34,670,395 $0 $52,679,560 $691,740,214 31-Dec-24 $338,189,484 $7,126,461 $45,475,363 $281,112,228 $64,670,395 $45,475,363 $54,259,947 $836,309,240 31-Dec-25 $348,335,168 $22,126,461 $69,738,598 $289,545,595 $95,670,395 $69,738,598 $55,887,745 $951,042,561 31-Dec-26 $358,785,223 $37,126,461 $70,734,345 $298,231,963 $125,670,395 $70,734,345 $57,564,378 $1,018,847,109 31-Dec-27 $369,548,780 $87,126,461 $71,759,964 $307,178,922 $135,670,395 $71,759,964 $59,291,309 $1,102,335,793 31-Dec-28 $380,635,243 $137,126,461 $114,376,310 $316,394,290 $155,670,395 $114,376,310 $61,070,048 $1,279,649,056 31-Dec-29 $392,054,301 $187,126,461 $117,017,673 $325,886,118 $175,670,395 $117,017,673 $62,902,150 $1,377,674,770 31-Dec-30 $403,815,930 $237,126,461 $119,738,277 $335,662,702 $205,670,395 $119,738,277 $64,789,214 $1,486,541,255 31-Dec-31 $415,930,408 $257,126,461 $126,469,265 $345,732,583 $245,670,395 $126,469,265 $66,732,891 $1,584,131,266 31-Dec-32 $428,408,320 $272,126,461 $129,553,073 $356,104,561 $285,670,395 $129,553,073 $68,734,877 $1,670,150,760 31-Dec-33 $441,260,569 $282,126,461 $132,729,396 $366,787,697 $335,670,395 $132,729,396 $70,796,924 $1,762,100,838 31-Dec-34 $454,498,386 $282,126,461 $136,001,009 $377,791,328 $385,670,395 $136,001,009 $72,920,831 $1,845,009,419 31-Dec-35 $468,133,338 $282,126,461 $139,370,770 $389,125,068 $385,670,395 $139,370,770 $75,108,456 $1,878,905,257 31-Dec-36 $482,177,338 $290,590,254 $142,841,624 $400,798,820 $397,240,507 $142,841,624 $77,361,710 $1,933,851,876 31-Dec-37 $496,642,658 $299,307,962 $146,416,603 $412,822,785 $409,157,722 $146,416,603 $79,682,561 $1,990,446,894 31-Dec-38 $511,541,938 $308,287,201 $150,098,832 $425,207,468 $421,432,454 $150,098,832 $82,073,038 $2,048,739,762 31-Dec-39 $526,888,196 $317,535,817 $153,891,527 $437,963,692 $434,075,427 $153,891,527 $84,535,229 $2,108,781,416 31-Dec-40 $542,694,842 $327,061,891 $157,798,004 $451,102,603 $447,097,690 $157,798,004 $87,071,286 $2,170,624,320 31-Dec-41 $558,975,687 $336,873,748 $161,821,675 $464,635,681 $460,510,621 $161,821,675 $89,683,425 $2,234,322,511 31-Dec-42 $575,744,958 $346,979,961 $165,966,055 $478,574,752 $474,325,939 $165,966,055 $92,373,927 $2,299,931,648 31-Dec-43 $593,017,307 $357,389,359 $170,234,768 $492,931,994 $488,555,718 $170,234,768 $95,145,145 $2,367,509,059 31-Dec-44 $610,807,826 $368,111,040 $174,631,541 $507,719,954 $503,212,389 $174,631,541 $97,999,500 $2,437,113,792 MuniCap,Inc. EXHIBIT J TOTAL CURRENT CAPTURED APPRAISED VALUE-ALL JURISDICTIONS Reinvestment Zone Number One City of Baytown, Texas Exhibit J:Total Current Captured Appraised Value-All Jurisdictions City of Baytown Harris County Chambers Count} Total Captured Tax Year Original Zone 2020 Annex 2023 Annex Original Zone 2020 Annex 2023 Annex 2017 Annex Appraised Value 31-Dec-20 $285,277,963 $0 $0 $209,943,872 $0 $0 $47,760,700 $542,982,535 31-Dcc-21 $294,292,272 $32,810 $0 $217,436,809 $136,031 $0 $49,206,978 $561,104,900 31-Dec-22 $303,577,011 $32,810 $0 $225,154,535 $10,136,031 $0 $50,696,644 $589,597,030 31-Dec-23 $313,140,292 $2,032,810 $0 $233,103,792 $30,136,031 $0 $529231,000 $630,643,924 31-Dec-24 $322,990,471 $6,032,810 $0 $241,2919526 $60,136,031 $0 $53,811,387 $684,262,224 31-Dec-25 $333,136,155 $21,032,810 $24,263,235 $249,7249893 $91,136,031 $24,263,235 $55,439,185 $798,995,545 31-Dec-26 $343,586,210 $36,032,810 $25,258,982 $258,411,261 $121,136,031 $25,258,982 $57,115,818 $866,800,093 31-Dcc-27 $354,3499767 $86,032,810 $26,284,601 $267,358,220 $131,136,031 $26,284,601 $58,842,749 $950,288,777 31-Dec-28 $365,436,230 $136,032,810 $68,900,947 $276,573,588 $151,136,031 $68,900,947 $60,621,488 $1,127,602,040 31-Dec-29 $3769855,288 $186,032,810 $71,5429310 $2869065,416 $171,136,031 $71,542,310 $62,453,590 $1,225,627,754 31-Dcc-30 $388,616,917 $236,032,810 $74,262,914 $295,842,000 $201,136,031 $74,262,914 $64,340,654 $1,334,494,239 31-Dec-31 $400,731,395 $256,032,810 $80,993,902 $305,911,881 $241,136,031 $80,993,902 $66,284,331 $1,432,084,250 31-Dec-32 $413,209,307 $271,032,810 $84,077,710 $316,283,859 $281,136,031 $849077,710 $68,286,317 $1,518,103,744 31-Dcc-33 $426,061,556 $281,032,810 $87,254,033 $326,966,995 $331,136,031 $87,254,033 $70,348,364 $1,610,053,822 31-Dec-34 $439,299,373 $2819032,810 $90,525,646 $337,970,626 $381,136,031 $90,525,646 $72,472,271 $1,692,962,403 31-Dec-35 $452,934,325 $281,032,810 $93,895,407 $349,304,366 $381,136,031 $93,895,407 $74,659,896 $1,726,858,241 31-Dec-36 $466,978,325 $289,496,603 $97,366,261 $360,978,118 $392,706,143 $97,366,261 $76,913,150 $1,781,804,860 31-Dec-37 $481,443,645 $298,214,311 $100,941,240 $373,002,083 $404,623,358 $100,941,240 $79,234,001 $1,838,399,878 31-Dec-38 $496,342,925 $307,193,550 $104,623,469 $385,3869766 $416,898,090 $104,623,469 $81,624,478 $1,896,692,746 31-Dcc-39 $511,689,183 $316,442,166 $108,416,164 $398,142,990 $429,541,063 $108,416,164 $84,086,669 $19956,734,400 31-Dec-40 $527,495,829 $325,968,240 $112,322,641 $411,281,901 $442,563,326 $112,322,641 $86,622,726 $2,018,577,304 31-Dec-41 $543,776,674 $335,780,097 $116,346,312 $424,814,979 $455,976,257 $116,346,312 $89,234,865 $2,082,275,495 31-Dec-42 $560,545,945 $345,886,310 $120,490,692 $438,754,050 $469,791,575 $120,490,692 $91,925,367 $2,147,884,632 31-Dcc-43 $577,818,294 $356,295,708 $124,759,405 $453,111,292 $484,021,354 $124,759,405 $94,696,585 $2,215,462,043 31-Dec-44 $595,608,813 $367,017,389 $129,156,178 $467,899,252 $498,678,025 $129,156,178 $97,550,940 $2,285,066,776 MuniCap,Inc. EXHIBIT K PROJECTED INCREMENT REVENUES AVAILABLE FOR TIRZ OBLIGATIONS- ALL JURISDICTIONS Reinvestment Zone Number One City of Baytown, Texas Exhibit K:Projected Incremental Revenues Available for TIRZ Obligations-All Jurisdictions City of Baytown Hams County Chambers County Tax Year Zone 2020 Annex 2023 Annex Original Zone 2020 Annex 2023 Annex 2017 Annex Total Increment 31-Dec-20 $2,223,020 $0 $0 $617,235 $0 $0 $119,487 $2,959,742 31-Dec-21 $2,293,264 $256 $0 $639,264 $400 $0 $123,105 $3,056,289 31-Dec-22 $2,365,615 $256 $0 $661,954 $29,800 $0 $126,832 $3,184,457 31-Dec-23 $2,440,136 $15,841 $0 $685,325 $88,600 $0 $130,671 $3,360,573 31-Dec-24 $2,516,894 $47,010 $0 $709,397 $176,800 $0 $134,624 $3,584,725 31-Dec-25 $2,595,953 $163,898 $181,974 $734,191 $267,940 $62,550 $138,697 $4,145,203 31-Dec-26 $2,677,385 $280,785 $189,442 $759,729 $356,140 $65,117 $142,891 $4,471,490 31-Dec-27 $2,761,260 $670,408 $197,135 $786,033 $385,540 $67,761 $147,212 $5,015,348 31-Dec-28 $2,847,651 $1,060,032 $516,757 $813,126 $444,340 $177,625 $151,662 $6,011,192 31-Dec-29 $2,936,634 $1,449,655 $536,567 $841,032 $503,140 $184,434 $156,245 $6,607,708 31-Dec-30 $3,028,286 $1,839,279 $556,972 $869,775 $591,340 $191,448 $160,966 $7,238,066 31-Dec-31 $3,122,687 $1,995,128 $607,454 $899,381 $708,940 $208,800 $165,829 $7,708,220 31-Dec-32 $3,219,921 $2,112,015 $630,583 $929,875 $826,540 $216,750 $170,837 $8,106,521 31-Dec-33 $3,320,072 $2,189,940 $654,405 $961,283 $973,540 $224,939 $175,996 $8,500,175 31-Dec-34 $3,423,227 $2,189,940 $678,942 $993,634 $1,120,540 $233,373 $181,310 $8,820,965 31-Dec-35 $3,529,477 $2,189,940 $704,216 $1,026,955 $1,120,540 $242,060 $186,783 $8,999,970 31-Dec-36 $3,638,915 $2,255,894 $730,247 $1,061,276 $1,154,556 $251,008 $192,420 $9,284,315 31-Dec-37 $3,751,635 $2,323,826 $757,059 $1,096,626 $1,189,593 $260,224 $198,226 $9,577,189 31-Dec-38 $3,867,737 $2,393,797 $784,676 $1,133,037 $1,225,680 $269,717 $204,207 $9,878,851 31-Dec-39 $3,987,323 $2,465,866 $813,121 $1,170,540 $1,262,851 $279,494 $210,366 $10,189,562 31-Dec-40 $4,110,495 $2,540,098 $842,420 $1,209,169 $1,301,136 $289,565 $216,711 $10,509,594 31-Dec-41 $4,237,363 $2,616,556 $872,597 $1,248,956 $1,340,570 $299,938 $223,246 $10,839,227 31-Dec-42 $4,368,037 $2,695,309 $903,680 $1,289,937 $1,381,187 $310,622 $229,977 $11,178,750 31-Dec-43 $4,502,632 $2,776,424 $935,696 $1,332,147 $1,423,023 $321,627 $236,910 $11,528,458 31-Dec-44 $4,641,264 $2,859,972 $968,671 $1,375,624 $1,466,113 $332,961 $244,051 $11,888,657 Total $82,406,883 $39,132,121 $13,062,615 $23,845,502 $19,338,849 $4,490,013 $49369,261 $186,645,244 MuniCap.Inc EXHIBIT L-1.1 PROJECTED INCREMENT REVENUES-CITY, ORIGINAL ZONE+ HUNT Reinvestment Zone Number One City of Baytown, Texas Exhibit L-1.1:Proiected Increment Revenues-City.Original Zone+Hunt Projected Assessed Valuation Projected Revenues Year Collected Base Year Projected Captured Increment Cummulative Ending Year Value' Taxable ValueS2 Appraised Value City Tax Rate Revenue Revenues to Zone 31-Dec-20 2021 $15,199,013 $300,476,976 $285,277,963 0.79515 $2,223,020 $2,223,020 31-Dec-21 2022 $15,199,013 $309,491,285 $294,292,272 0.79515 $2,293,264 $4,516,284 31-Dec-22 2023 $15,199,013 $318,776,024 $303,577,011 0.79515 $2,365,615 $6,881,898 31-Dec-23 2024 $15,199,013 $328,339,305 $313,140,292 0.79515 $2,440,136 $9,322,035 31-Dec-24 2025 $15,199,013 $338,189,484 $322,990,471 0.79515 $2,516,894 $11,838,928 31-Dec-25 2026 $15,199,013 $348,335,168 $333,136,155 0.79515 $2,595,953 $14,434,882 31-Dec-26 2027 $15,199.013 $358,785,223 $343,586,210 0.79515 $2,677,385 $17,112,267 31-Dec-27 2028 $15,199,013 $369,548,780 $354,349,767 0.79515 $2,761,260 $19,873,527 31-Dec-28 2029 $15,199,013 $380.635,243 $365,436,230 0.79515 $2,847,651 $22,721,178 31-Dec-29 2030 $15,199,013 $392,054,301 $376,855,288 0.79515 $2,936,634 $25,657,811 31-Dec-30 2031 $15,199,013 $403,815,930 $388,616,917 0.79515 $3,028,286 $28,686,097 31-Dec-31 2032 $15,199,013 $415,930,408 $400,731,395 0.79515 $3,122,687 $31,808,784 31-Dec-32 2033 $15,199,013 $428,408,320 $413,209,307 0.79515 $3,219,921 $35,028,706 31-Dec-33 2034 $15,199,013 $441,260,569 $426,061,556 0.79515 $3,320,072 $38,348,777 31-Dec-34 2035 $15.199,013 $454,498,386 $439,299,373 0.79515 $3,423,227 $41,772,005 31-Dec-35 2036 $15,199,013 $468,133,338 $452,934,325 0.79515 $3,529,477 $45,301,482 31-Dec-36 2037 $15,199,013 $482,177,338 $466,978,325 0.79515 $3,638,915 $48,940,396 31-Dec-37 2038 $15,199,013 $496,642,658 $481,443,645 0.79515 $3,751,635 $52,692,031 31-Dec-38 2039 $15,199,013 $511,541,938 $496,342,925 0.79515 $3,867,737 $56,559,769 31-Dec-39 2040 $15,199,013 $526,888,196 $511,689,183 0.79515 $3,987,323 $60,547,091 31-Dec40 2041 $15,199,013 $5422694,842 $527,495,829 0.79515 $4,110,495 $64,657,587 31-Dec41 2042 $15,199,013 $558,975,687 $543,776,674 0.79515 $4,237,363 $68,894,950 31-Dec-42 2043 $15,199,013 $575,744,958 $5602545,945 0.79515 $4,368,037 $73,262,988 31-Dec-43 2044 $15,199,013 $593,017,307 $577,818,294 0.79515 $4,502,632 $77,765,619 31-Dec-44 2045 $15,199,013 $610,807,826 $595,608,813 0.79515 $4,641,264 $82,406,883 MuntCap,Inc Source:7th Amended and Restated Project and Finance Plan 'City Base Value Year 2001 for Original Zone,Year 2004 for portion of Hunt 90 Ltd annexed to 2004,and Year 2014 for portion annexed to 2014 'Includes an annual inflation factor of 3.0%. '98Ro Collection EXHIBIT L-1.2 PROJECTED INCREMENT REVENUES-CITY, 2020 ANNEXATION Reinvestment Zone Number One City of Baytown, Texas Exhibit L-1.2:Proiected Increment Revenues-City,2020 Amendment Projected Assessed Valuation Projected Revenue Year Collected Base Year Added Projected Captured Increment Cummulative Ending Year Value 3uildout Value Taxable Values Appraised Value City Tax Rate Revenue Revenues to Zone 31-Dec-20 2021 $1,093,651 $0 $1,093,651 $0 0.79515 $0 $0 31-Dec-21 2022 $1,093,651 $0 $1,126,461 $32,810 0.79515 $256 $256 31-Dec-22 2023 $1,093,651 $0 $1,126,461 $32,810 0.79515 $256 $511 31-Dec-23 2024 $1,093,651 $2,000,000 $3,126,461 $2,032,810 0.79515 $15,841 $16,352 31-Dec-24 2025 $1,093,651 $4,000,000 $7,126,461 $6,032,810 0.79515 $47,010 $63,362 31-Dec-25 2026 $1,093,651 $15,000,000 $22,126,461 $21,032,810 0.79515 $163,898 $227,260 31-Dec-26 2027 $1,093.651 $15,000,000 $37,126,461 $36,032,810 0.79515 $280,785 $508,045 31-Dec-27 2028 $1,093,651 $50,000,000 $87,126,461 $86,032,810 0.79515 $670,408 $1,178,453 31-Dec-28 2029 $1,093,651 $50,000,000 $137,126,461 $136,032,810 0.79515 $1,060,032 $2,238,484 31-Dec-29 2030 $1,093,651 $50,000,000 $187,126,461 $186,032,810 0.79515 $1,449,655 $3,688,139 31-Dec-30 2031 $1,093,651 $50,000,000 $237,126,461 $236,032,810 0.79515 $1,839,279 $5,527,418 31-Dec-31 2032 $1,093,651 $20,000,000 $257,126,461 $256,032,810 0.79515 $1,995,128 $7,522,546 31-Dec-32 2033 $1,093,651 $15,000,000 $272,126,461 $271,032,810 0.79515 $2,112,015 $9,634,561 31-Dec-33 2034 $1,093,651 $10,000,000 $282,126,461 $281,032,810 0.79515 $2,189,940 $11,824,501 31-Dec-34 2035 $1,093,651 $0 $282,126,461 $281,032,810 0.79515 $2,189,940 $14,014,440 31-Dec-35 2036 $1,093,651 $0 $282,126,461 $281,032,810 0.79515 $2,189,940 $16,204,380 31-Dec-36 2037 $1,093,651 $0 $290,590,254 $289,496,603 0.79515 $2,255,894 $18,460,274 31-Dec-37 2038 $1,093,651 $0 $299,307,962 $298,214,311 0.79515 $2,323,826 $20,784,100 31-Dcc-38 2039 $1,093,651 $0 $308,287,201 $307,193,550 0.79515 $2,393,797 $23,177,896 31-Dec-39 2040 $1,093,651 $0 $317,535,817 $316,442,166 0.79515 $2,465,866 $25,643,762 31-Dec-40 2041 $1.093.651 $0 $327,061,891 $325,968,240 0.79515 $2,540,098 $28,183,860 31-Dec-41 2042 $1,093,651 $0 $336,873,748 $335,780,097 0.79515 $2,616,556 $30,800,416 31-Dec-42 2043 $1,093,651 $0 $346,979,961 $345,886,310 0.79515 $2,695,309 $33,495,725 31-Dec-43 2044 $1,093,651 $0 $357,389,359 $356,295,708 0.79515 $2,776,424 $36,272,149 31-Dec-44 2045 $1,093,651 $0 $368,111,040 $367,017,389 0.79515 $2,859,972 $39,132,121 MumCap,Inc. Source:7lh Amended and Restated Project and Finance Plan 'Build out assumptions provided by the City. 29g%Collection EXHIBIT L-1.3 PROJECTED INCREMENT REVENUES-HARRIS COUNTY, ORIGINAL ZONE Reinvestment Zone Number One City of Baytown,Texas Exhibit L-1.3:Proiected Increment Revenues-Harris County,Original Zone Projected Assessed Valuation Projected Revenue Projected Revenue Available for TIRZ Obligation: Year Collected Base Year Projected Captured County Increment Cummulative County Increment Cummulative Ending Year Value' Taxable ValuesZ Appraised Value Tax Rate Revenue Revenues to Zone Tax Rater Revenue Revenues to Zone° 31-Dcc-20 2021 S39,820,702 S249.764,574 S209,943,872 0.40713 S837,650 $837,650 0.30000 S617,235 S617,235 31-Dcc-21 2022 S39,820,702 S257,257,511 S217,436,809 0.40713 S867,545 $1,705,195 0.30000 S639,264 S1,256,499 31-Dcc-22 2023 S39,820.702 S264,975,237 S225,154,535 0.40713 S898,338 S2,603,533 0.30000 S661,954 $1,918.454 31-Dec-23 2024 S39,820,702 S272,924,494 $233,103,792 0.40713 S930,055 S3,533,588 0.30000 S685,325 S2,603,779 31-Dcc-24 2025 S39,820,702 S281,112,228 S241,291,526 0.40713 S962,723 S4,496.311 0.30000 S709,397 S3313,176 31-Dec-25 2026 S39,820,702 S289,545,595 S249,724,893 0.40713 S996,371 S5,492,682 0.30000 S734,191 S4,047,367 31-Dcc-26 2027 S39,820,702 S298,231,963 S258,411,261 0.40713 S1,031,028 S6,523,710 0.30000 S759,729 S4,807,096 31-Dec-27 2028 S39,820,702 S307,178,922 S267,358,220 0.40713 S1,066,726 S7,590,436 0.30000 $786,033 S5,593,129 31-Dec-28 2029 S39,820,702 $316,394,290 S276,573,588 0.40713 S1,103,494 S8,693,929 0.30000 S813,126 S6,406,256 31-Dcc-29 2030 S39,820,702 S325,886,118 S286,065,416 0.40713 S1,141,365 S9,835,294 0.30000 S841,032 $7,247,288 31-Dec-30 2031 $39,820,702 $335,662,702 S295,842,000 0.40713 $1,180.372 S11,015,667 0.30000 S869,775 S8,117,063 31-Dcc-31 2032 S39,820,702 S345,732,583 S305,911,881 0.40713 S1,220,550 S12,236,217 0.30000 S899,381 S9,016,444 31-Dec-32 2033 S39,820,702 S356,104,561 S316,283,859 0.40713 S1,261,933 S13,498,149 0.30000 S929,875 S9,946,319 31-Dec-33 2034 S39,820,702 S366,787,697 S326,966,995 0.40713 S1,304,557 S14,802,706 0.30000 S961,283 S10,907,602 31-Dcc-34 2035 S39.820,702 S377,791,328 S337,970,626 0.40713 S1,348,460 $16,151,167 0.30000 S993,634 S11,901,235 31-Dcc-35 2036 S39,820,702 S389,125,068 S349,304,366 0.40713 S1,393,680 S17,544,847 0.30000 S1,026,955 S12,928,190 31-Dcc-36 2037 S39,820,702 S400,798,820 S360,978,118 0.40713 S1,440,257 S18,985,104 0.30000 S1,061,276 $13,989,466 31-Dec-37 2038 S39,820,702 S412,822,785 S373,002,083 0.40713 S1,488,231 S20,473,336 0.30000 S1,096,626 S15,086,092 31-Dcc-38 2039 S39,820,702 S425,207,468 S385,386,766 0.40713 S1,537,645 S22,010,980 0.30000 S1,133,037 S16,219,129 31-Dec-39 2040 S39,820,702 S437,963,692 S398,142,990 0.40713 $1,588,540 S23,599,521 0.30000 S1,170,540 S17,389,670 31-Dcc40 2041 S39,820,702 S451,102,603 S411,281,901 0.40713 S1,640.963 S25,240,484 0.30000 S1,209,169 S18,598,838 31-Dcc-41 2042 S39,820,702 S464,635,681 S424,814,979 0.40713 S1,694,958 S26,935,442 0.30000 S1,248,956 S19,847,794 31-Dec42 2043 S39,820,702 $478,574,752 S438,754,050 0.40713 S1,750,573 S28,686,015 0.30000 S1,289,937 S21,137,731 31-Dec43 2044 S39,820,702 S492,931,994 S453,111,292 0.40713 S1,807,857 S30,493,872 0.30000 S1,332,147 S22,469,879 31-Dec44 2045 S39,820,702 S507,719,954 $467,899,252 0.40713 S1,866,859 S32,360,731 0.30000 S1,375,624 S23,845,502 MumCap,bec Source 7th Amended and Restated Project and Finance Plan City Base Value Year 2005 for Original Zone,Year 2005 for portion of Hunt 90 Ltd annexed to 2004,and Year 2014 for portion annexed to 2014. 'Includes an annual inflation factor of 3.0%. 'County participates at 75%of tax rate not to exceed$0.30 per S100. **,Collection EXHIBIT L-1.4 PROJECTED INCREMENT REVENUES-HARRIS COUNTY, 2020 ANNEXATION Reinvestment Zone Number One City of Baytown,Texas Exhibit L-1.4:Proiected Increment Revenues-Harris County,2020 Amendment Projected Assessed Valuation Projected Revenue 'rolected Revenue Available for TIRZ Obligation Year Collected Base Year Added Projected Captured County Increment Cummulative County Increment Cummulative Ending Year Value luddout Value Taxable Values Appraised Value Tax Rate Revenue Revenues to Zone Tax Rate' Revenue Pevenues to Zone 31-Dec-20 2021 $4,534,364 $0 $4,534,364 $0 0.40713 $0 $0 0.30000 $0 $0 31-Dec-21 2022 $4,534,364 $0 $4,670,395 $136,031 0.40713 $543 $543 0.30000 $400 $400 31-Dec-22 2023 $4,534,364 $10.000,000 $14,670,395 $10,136,031 0.40713 $40,441 $40,984 0.30000 $29,800 $30.200 31-Dec-23 2024 $4,534,364 $20,000,000 $34,670,395 $30,136,031 0.40713 $120,239 $161,223 0.30000 $88,600 $118,800 31-Dec-24 2025 $4,534,364 $30,000,000 $64,670,395 $60,136,031 0.40713 $239,935 $401.158 0.30000 $176,800 $295,600 31-Dec-25 2026 $4,534,364 $31,000,000 $95,670,395 $91,136,031 0.40713 $363,621 $764,780 0.30000 $267,940 $563,540 31-Dec-26 2027 $4,534,364 $30,000,000 $125,670,395 $121,136,031 0.40713 $483,318 $1,248,097 0.30000 $356,140 $919,680 31-Dec-27 2028 $4,534,364 $10,000,000 $135,670,395 $131,136,031 0.40713 $523216 $1,771,313 0.30000 $385,540 $1,305,220 31-Dec-28 2029 $4,534,364 $20,000,000 $155,670,395 $151,136,031 0.40713 $603:014 $2.374,327 0.30000 $444,340 $1,749,559 31-Dec-29 2030 $4,534,364 $20,000,000 $175,670,395 $171,136,031 0.40713 $682,811 $3,057,138 0.30000 $503,140 $2,252,699 31-Dec-30 2031 $4,534,364 $30,000,000 $205,670,395 $201,136,031 0.40713 $802,507 $3,859,646 0.30000 $591,340 $2,844,039 31-Dec-31 2032 $4,534,364 $40,000,000 $245,670,395 $241,136,031 0.40713 $962,102 $4,821,748 0.30000 $708,940 $3,552,979 31-Dec-32 2033 $4,534,364 $40.000,000 $285.670,395 $281,136,031 0.40713 $1,121,697 $5,943,445 0.30000 $826,540 $4,379,519 31-Dec-33 2034 $4,534,364 $50,000,000 $335,670,395 $331,136,031 0.40713 $1,321,191 $7,264,637 0.30000 $973,540 $5,353,059 31-Dec-34 2035 $4,534,364 $50,000,000 $385,670,395 $381,136,031 0.40713 $1,520,685 $8,785.321 0.30000 $1,120,540 $6,473,599 31-Dec-35 2036 $4,534,364 $0 $385,670,395 $381,136,031 0.40713 $1,520,685 $10,306,006 0.30000 $1,120,540 $7,594,139 31-Dec-36 2037 $4,534,364 $0 $397,240,507 $392,706,143 0.40713 $1,566,848 $11,872,854 0.30000 $1,154.556 $8,748,695 31-Dec-37 2038 $4,534,364 $0 $409,157,722 $404,623,358 0.40713 $1,614,396 $13,487,250 0.30000 $1,189,593 $9,938,288 31-Dec-38 2039 $4,534,364 $0 $421,432,454 $416,898,090 0.40713 $1,663,371 $15,150,621 0.30000 $1,225,680 $11,163,969 31-Dec-39 2040 $4,534,364 $0 $434,075,427 $429,541,063 0.40713 $1,713,815 $16,864,436 0.30000 $1,262,851 $12,426,819 31-Dec-40 2041 $4,534,364 $0 $447,097,690 $442,563,326 0.40713 $1,765,772 $18,630,208 0.30000 $1,301,136 $13.727,955 31-Dec-41 2042 $4,534,364 $0 $460,510,621 $455,976,257 0.40713 $1,819,288 $20,449,496 0.30000 $1,340,570 $15,068,525 31-Dec-42 2043 $4,534,364 $0 $474,325,939 $469,791,575 0.40713 $1,874,409 $22,323,905 0.30000 $1,381,187 $16,449,712 31-Dec-43 2044 $4,534,364 $0 $488,555,718 $484,021,354 0.40713 $1,931,184 $24,255,089 0.30000 $1,423,023 $17,872,735 31-Dec-44 2045 $4,534,364 $0 $503,212,389 $498,678,025 0.40713 $1,989,662 $26,244,751 0.30000 $1,466,113 $19,338,849 MunrCap,lire. Source.7th Amended and Restated Project and Finance Plan 'Build out assumptions provided by the City. tCounty participates at 75R.of tax rate not to exceed$0.30 per$100 398%Collection EXHIBIT L-1.5 PROJECTED INCREMENT REVENUES-CHAMBERS COUNTY, 2017 ANNEXATION Reinvestment Zone Number One City of Baytown,Texas Exhibit L-1.5:Proiected Increment Revenues-Chambers County,2017 Amendment] Projected Assessed Valuation Projected Revenues ejected Revenues Available for TIRZ Obligatio Year Collected Base Year Projected Captured County Increment Cummulative Increment Cummulative Ending Year Value Taxable Values Appraised Value Tax Rate Revenues Revenues to Zone Revenues2 Revenues to Zone 31-Dec-20 2021 $448,560 $48,209,260 $47,760,700 0.425473 $199,145 $199,145 $119,487 $119,487 31-Dec-21 2022 $448,560 $49,655,538 $49,206,978 0.425473 $205,175 $404,320 $123,105 $242,592 31-Dec-22 2023 $448,560 $51,145,204 $50,696,644 0.425473 $211387 $615,706 $126,832 $369,424 31-Dec-23 2024 $448,560 $52,679,560 $52,231,000 0.425473 $217,784 $833,491 $130,671 $500,094 31-Dec-24 2025 $448,560 $54,259,947 $53,811,387 0.425473 $224,374 $1,057,864 $134,624 $634,719 31-Dec-25 2026 $448,560 $55,887,745 $55,439,185 0.425473 $231,161 $1,289,026 $138,697 $773,415 31-Dec-26 2027 $448,560 $57,564,378 $57,115,818 0.425473 $238,152 $1,527,178 $142,891 $916.307 31-Dec-27 2028 $448,560 $59,291,309 $58,842,749 0.425473 $245,353 $1,772,531 $147,212 $1,063,518 31-Dec-28 2029 $448,560 $61,070,048 $60,621,488 0.425473 $252,770 $2,025,300 $151,662 $1,215,180 31-Dcc-29 2030 $448,560 $62,902,150 $62,453,590 0.425473 $260,409 $2,285,709 $156,245 $1,371,425 31-Dcc-30 2031 $448,560 $64,789,214 $64,340,654 0.425473 $268,277 $2,553,986 $160,966 $1,532,392 31-Dcc-31 2032 $448,560 $66,732,891 $66,284,331 0.425473 $276,381 $2,830,367 $165,829 $1,698,220 31-Dcc-32 2033 $448,560 $68,734,877 $68,286,317 0.425473 $284,729 $3,115,096 $170,837 $1,869,058 31-Dec-33 2034 $448,560 $70,796,924 $70,348,364 0.425473 $293,327 $3,408,423 $175,996 $2,045,054 31-Dec-34 2035 $448,560 $72,920,831 $72,472,271 0.425473 $302,183 $3.710,606 $181,310 $2,226,364 31-Dcc-35 2036 $448,560 $75,108,456 $74,659,896 0.425473 $311,305 $4,021,911 $186,783 $2,413,147 31-Dec-36 2037 $448,560 $77,361,710 $76,913,150 0.425473 $320,700 $4,342,611 $192,420 $2,605,566 31-Dcc-37 2038 $448,560 $79,682,561 $79,234,001 0.425473 $330,377 $4,672,988 $198,226 $2,803,793 31-Dcc-38 2039 $448,560 $82,073,038 $81,624,478 0.425473 $340,344 $5,013,332 $204,207 $3,007,999 31-Dec-39 2040 $448,560 $84,535,229 $84,086,669 0.425473 $350,611 $5,363,943 $210,366 $3,218,366 31-Dcc-40 2041 $448,560 $87,071,286 $86,622,726 0.425473 $361,185 $5,725,128 $216,711 $3,435,077 31-Dec-41 2042 $448,560 $89,683,425 $89,234,865 0.425473 $372,077 $6,097,205 $223,246 $3,658,323 31-Dec-42 2043 $448,560 $92,373,927 $91,925,367 0.425473 $383,295 $6,480,500 $229,977 $3,888,300 31-Dcc-43 2044 $448,560 $95,145,145 $94,696,585 0.425473 $394,850 $6,875,350 $236,910 $4,125,210 31-Dec-44 2045 $448,560 $97,999,500 $97,550,940 0.425473 $406.752 $7,282,102 $244,051 $4,369,261 M niCap,Inc. Source:7th Amended and Restated Project and Finance Plan Kilgore Traxct located in Chambers County. 2County participates at 60%of tax rate.