Mueller Financial Update — original pdf

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Update on Mueller Financing to the Robert Mueller Municipal Airport Plan Advisory Commission Austin Financial Services | April 14, 2026 Kimberly Olivares │ Director, Austin Financial Services Mueller Implementation Strategy Public-private partnership • • City holds the land; master developer takes down land gradually, then sells to third parties • Master developer designs, builds and funds all infrastructure & parks • Reimbursed by land sale proceeds and public financing (sales and property tax) • Developer retains responsibility for overall implementation of vision & goals, with City oversight 2 Financing Model for Mueller City holds land and gradually sells to developer Catellus builds streets, utilities, parks, and other infrastructure Catellus sells land to vertical developers New Commercial and Residential development Reimbursements Mueller Project Revenue Fund Mueller Tax Increment Financing Property Taxes Mueller Current Development • Over 3.5 M square feet Commercial, Institutional & Civic development complete or under construction • Including over 680,000 SF of retail • Over 6,500 Single and Multi- Family Units complete or under construction • Including over 1,600 affordable units Initial Project Finance Plan • Approximately $265 Million in project costs • $185 million land sales • $65 million in public financing • Reimbursed by land sale proceeds and public financing (sales and property tax)i • City’s risk is minimized • Relies on project revenue to support project costs • Catellus provides interim funding for project costs 5 Mueller TIF Recap Base Year TIF Duration Base Assessed Value (AV) Current AV (Tax Yr 2024) COA Capture % Other Entity Participation Other Participation Current Project Cost Estimated Project Cost to be covered by TIF Debt Mueller (TIF #16) 2004 Through 2032 $0 $2.6 billion 100% n/a Yes / Developer $361 million $60 million Mueller Debt Summary  Current (FY2025-26) annual debt service is approximately $5.3 million  Current (FY2025-26) annual TIF revenue Year Type Amount 2007 Sales Tax is estimated to be $13.5 million 2009 TIF (Property Tax)  Sales tax financing repayments will be completed in FY 2025-26  Credit Factors  City property tax revenues projected to maintain value, but growth anticipated to be limited 2012 TIF (Property Tax) 2014 TIF (Property Tax) TOTAL $12.0 million $15.0 million $16.8 million $15.8 million $59.6 million 7 Questions? Fore more information: financeonline.austintexas.gov Austin Financial Services