HomeMy WebLinkAboutContract 35443 CITY �7(`!r;ETARY f�
CON i --,C i NO. �
STATE OF TEXAS §
COUNTY OF TARRANT §
TAX ABATEMENT AGREEMENT
This TAX ABATEMENT AGREEMENT ("Agreement") is entered into by and
between the CITY OF FORT WORTH, TEXAS (the "City"), a home rule municipal
corporation organized under the laws of the State of Texas and acting by and through Dale
Fisseler, its duly authorized Assistant City Manager, and BGR PARTNERS, LP ("BGR"), a
Texas limited partnership acting by and through Thomas J. Buxton, President of BGR Building,
Inc. a Texas corporation and BGR's general partner.
The City Council of the City of Fort Worth ("City Council")hereby finds and the City and
BGR hereby agree that the following statements are true and correct and constitute the basis upon
which the City and BGR have entered into this Agreement:
A. On June 13, 2006, the City Council adopted Resolution No. 3363-06-2006, stating
that the City elects to be eligible to participate in tax abatement and including guidelines and
criteria governing tax abatement agreements entered into between the City and various third
parties, entitled "Tax Abatement Policy Statement for Qualifying Development Projects" (the
"Policy"), which is attached hereto as Exhibit "A" and hereby made a part of this Agreement for
all purposes.
B. The Policy contains appropriate guidelines and criteria governing tax abatement
agreements to be entered into by the City as contemplated by Chapter 312 of the Texas Tax Code,
as amended (the"Code").
C. On May 29, 2007, the City Council adopted Ordinance No. 17570-05-2007 (the
"Ordinance") establishing Tax Abatement Reinvestment Zone No. 59, City of Fort Worth, Texas
(the"Zone").
D. The Buxton Company ("Buxton") is a Texas corporation and an Affiliate of BGR
that provides professional consulting services for the retail industry. Buxton's current corporate
offices consist of approximately 18,417 square feet of office space and are located on
approximately 1.66 acres of land owned by BGR and located immediately adjacent to the Zone.
Contingent on receipt of the tax abatement herein, Buxton wishes to expand the size of its
corporate offices by approximately 25,000 square feet, with room for further expansion (the
"Project"), on approximately 2.18 acres of land located entirely in the Zone, which land is more
particularly described in Exhibit `B", attached hereto and hereby made a part of this Agreement
for all purposes(the"Land"). BGR owns or is under contract to purchase the Land.
E. On April 26, 2007 BGR and Buxton submitted an application for tax abatement to
the City concerning the contemplated use of the Land (the "Application"), attached hereto as
Exhibit"C" and hereby made a part of this Agreement for all purposes.
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Tax Abatement Agreement between
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F. The contemplated use of the Land, the Required Improvements, as defined in
Section 1.1, and the terms of this Agreement are consistent with encouraging development of the
Zone and generating economic development and increased employment opportunities in the City,
in accordance with the purposes for creation of the Zone, and are in compliance with the Policy
Statement,the Ordinance and other applicable laws, ordinances,rules and regulations.
G. The terms of this Agreement, and the Land and Required Improvements, satisfy the
eligibility criteria of the Policy. Specifically, the Project is eligible for commercial/industrial tax
abatement(business expansion project)pursuant to Section 6.1 of the Policy.
H. Written notice that the City intends to enter into this Agreement, along with a copy
of this Agreement, has been furnished in the manner prescribed by the Code to the presiding
officers of the governing bodies of each of the taxing units in which the Land is located.
NOW, THEREFORE, the City and BGR, for and in consideration of the terms and
conditions set forth herein, do hereby contract, covenant and agree as follows:
1. BGR'S COVENANTS.
1.1. Real Property Improvements.
BGR shall construct or cause to be constructed certain improvements on the Land
consisting of an addition to improvements currently located on real property immediately
adjacent to the Land (i) approximately 25,000 square feet in size and (ii) having a
minimum aggregate Construction Cost upon completion of $2,250,000 (collectively, the
"Required Improvements"). The kind, number and location of the Required
Improvements are more particularly described in Exhibit "D", attached hereto and hereby
made a part of this Agreement for all purposes. Minor variations in the Required
Improvements from the description provided in the Application for Tax Abatement shall
not constitute an Event of Default, as defined in Section 4.1,provided that the conditions in
the first sentence of this Section 1.1 and the completion deadline set forth in Section 1.2 are
met. For purposes of this Agreement, "Construction Costs" shall mean Hard
Construction Costs; engineering fees; architectural fees; and other professional,
development and permitting fees expended directly in connection with the Project, and
"Hard Construction Costs" shall mean actual site development and construction costs,
contractor fees and the costs of supplies and materials expended directly in connection with
the Project.
1.2. Completion Date of Required Improvements and Installation of Tangible
Personal Property.
The Required Improvements shall be deemed complete on the date as of which the
City has issued a final certificate of occupancy for all Required Improvements (the
"Completion Date"). BGR covenants and agrees that the Completion Date shall occur by
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Tax Abatement Agreement between
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December 31, 2008, unless delayed because of Force Majeure, in which case this deadline
shall be extended by the number of days comprising the specific Force Majeure (the
"Completion Deadline"). For purposes of this Agreement, "Force Majeure" shall mean
an event beyond BGR's reasonable control, including, without limitation, acts of God,
fires, strikes, national disasters, wars (declared or undeclared), terrorism, riots, material or
labor restrictions, and unreasonable delays by the City in issuing any permits with respect
to the Required Improvements or inspecting any of the Required Improvements (taking into
account the City's then-current workload with respect to the issuance of permits or the
conducting of inspections), but shall not include construction delays caused due to purely
financial matters involving BGR, such as, without limitation, delays in the obtaining of
adequate financing.
1.3. Use of Land.
BGR covenants that the Required Improvements shall be constructed and the
Land shall be used in accordance with the description of the Project set forth in Exhibit
"D". In addition, BGR covenants that throughout the Term, the Required Improvements
shall be operated and maintained for the purposes set forth in this Agreement and in a
manner that is consistent with the general purposes of encouraging development or
redevelopment of the Zone.
2. ABATEMENT AMOUNTS,TERMS AND CONDITIONS.
The City will grant to BGR annual property tax abatements on improvements located on
the Land (but not on the Land itself) and on New Taxable Tangible Personal Property located on
the Land for a period of ten (10) years, as specifically provided in this Section 2 and subject to
and in accordance with this Agreement (collectively, the "Abatement"). For purposes of this
Agreement, "New Taxable Tangible Personal Property" means any personal property that (i)
is subject to ad valorem taxation by the City; (ii) is located on the Land; (iii) is owned or leased
by BGR or an Affiliate to whom a portion of the Abatement granted hereunder has been assigned
in accordance with Section 5; and (iv) was not owned by BGR or an Affiliate prior to the
Effective Date of this Agreement. The actual amount of the Abatement granted under this
Agreement shall be based upon the increase in value of improvements located on the Land and
the increase in value of New Taxable Tangible Personal Property located on the Land over their
respective values as of January 1, 2007, which is the year in which this Agreement was entered
into, and upon attainment of certain employment, contracting and spending benchmarks set forth
in this Section 2.
2.1. Amount of Abatement.
Subject to Sections 2.3 and 4 of this Agreement, during each year of the Term, the
Abatement granted hereunder may range up to a maximum of fifty percent (50%) of the
increased value of improvements on the Land and any improvements (but not the Land
itself) and up to a maximum of fifty percent (50%) of the increased value of New Taxable
Tangible Personal Property located on the Land, and shall be calculated as follows:
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Tax Abatement Agreement between
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2.1.1. Abatement Based on Construction Expenditures (20%).
BGR shall receive a twenty percent (20%) Abatement in each year of the
Abatement Term, as defined in Section 2.5, if by the Completion Deadline (i) at
least $2,250,000.00 in Construction Costs have been expended on the Required
Improvements. If the Completion Date does not occur by the Completion
Deadline or by the Completion Deadline less than $2,250,000.00 in Construction
Costs have been expended on the Required Improvements, not only will BGR be
ineligible to receive the twenty percent (20%) Abatement under this Section 2.1.1,
but an Event of Default, as defined and addressed in Section 4, shall also occur.
2.1.2. Abatement Based on Construction Spending with Fort Worth
Companies (5%).
BGR shall receive a five percent (5%) Abatement in each year of the
Abatement Term, as defined in Section 2.5, if by the Completion Deadline at least
30% of all Hard Construction Costs for the Required Improvements, regardless of
the total amount of such Hard Construction Costs, are spent with Fort Worth
Companies (the "Fort Worth Construction Commitment"). For purposes of
this Agreement, "Fort Worth Company" means a business that has a principal
office located within the corporate limits of the City that performs a commercially
useful function and that provided from such office the services or sales that BGR
is seeking to have counted as Hard Construction Costs for purposes of the Fort
Worth Construction Commitment.
2.1.3. Abatement Based on Construction Spending with Fort Worth
Certified M/WBE Companies (5%)
BGR shall receive a five percent (5%) Abatement in each year of the
Abatement Term, as defined in Section 2.5, if by the Completion Deadline at least
25% of all Hard Construction Costs for the Required Improvements, regardless of
the total amount of such Hard Construction Costs, are spent with Fort Worth
Certified M/WBE Companies (the "M/WBE Construction Commitment"). For
purposes of this Agreement, "Fort Worth Certified M/WBE Company" means
a minority or woman-owned business that (i) has received certification as a
minority business enterprise (MBE), a woman business enterprise (WBE) or a
disadvantaged business enterprise (DBE) by the North Central Texas Regional
Certification Agency (NCTRCA), and (ii) has a principal office located within the
corporate limits of the City that performs a commercially useful function, and (iii)
that provided from such office the services or sales that BGR is seeking to have
counted as Hard Construction Costs for purposes of the M/WBE Construction
Commitment. Dollars spent with a Fort Worth Certified M/WBE Company shall
also count as dollars spent with a Fort Worth Company for purposes of measuring
BGR's compliance with the Fort Worth Construction Commitment.
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Tax Abatement Agreement between 't���hSLzIt v°'J'i
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2.1.4. Abatement Based on Employment Commitments.
In order to meet the Fort Worth Employment Commitment and the Central
City Employment Commitment, as defined in Sections 2.1.4.1 and 2.1.4.2,
respectively, the following minimum number of Full-time Jobs specified in the
table below must be filled on the Land in the corresponding year of the
Compliance Auditing Term (the"Minimum Job Commitment"):
Number of Calendar
FT Jobs Year
120 2008
120 2009
140 2010
140 2011
160 2012
160 2013
180 2014
180 2015
200 2016
200 2017
For purposes of this Agreement, a "Full-time Job" means a job filled by
one (1) individual for a period of not less than forty (40) hours per week.
Determination of compliance with the Minimum Job Commitment, the Fort
Worth Employment Commitment and the Central City Employment Commitment
in each year of the Compliance Auditing Term shall be based on BGR's
employment data as of August 1 of such year or such other date that is mutually
acceptable to both the City and BGR.
2.1.4.1. Abatement Based on Fort Worth Employees (5%).
BGR shall receive a five percent (5%) Abatement in each
year of the Abatement Term, as defined in Section 2.5, if in the previous
calendar year(i) the Minimum Job Commitment for that year was met and
(ii) at least twenty-five percent (25%) of all Full-time Jobs filled on the
Land, regardless of the total number of such Full-time Jobs, were held by
individuals residing in the corporate limits of the City (the "Fort Worth
Employment Commitment").
2.1.4.2. Abatement Based on Central City Employees (5%).
BGR shall receive a five percent (5%) Abatement in each
year of the Abatement Term, as defined in Section 2.5, if in the previous
calendar year(i) the Minimum Job Commitment for that year was met and
(ii) at least fifteen percent (15%) of all Full-time Jobs filled on the Land,
regardless of the total number of such Full-time Jobs, were held by
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Tax Abatement Agreement between
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individuals residing in the Central City (the "Central City Employment
Commitment"). For purposes of this Agreement, "Central City" means
that area in the corporate limits of the City within Loop 820 (i) consisting
of all Community Development Block Grant ("CDBG") eligible census
block groups; (ii) all state-designated enterprise zones; and (iii) all census
block groups that are contiguous by seventy-five percent (75%) or more of
their perimeter to CDBG eligible block groups or enterprise zones, as well
as any CDBG eligible block in the corporate limits of the City outside
Loop 820, as more specifically depicted in the map of Exhibit "E",
attached hereto and hereby made a part of this Agreement for all purposes.
2.1.5. Abatement Based on Supply and Service Expenditures with Fort
Worth Companies (5%).
BGR shall receive a five percent (5%) Abatement if during the previous
calendar year (i) BGR expended at least $40,000.00 in local discretionary funds
for supplies and services directly in connection with the operation of the Required
Improvements ("Supply and Service Expenditures") and (ii) at least thirty
percent (30%) of all Supply and Service Expenditures, regardless of the total
amount of such Supply and Service Expenditures in such year, were made with
Fort Worth Companies (the "Fort Worth Supply and Service Spending
Commitment").
2.1.6. Abatement Based on Supply and Service Expenditures with Fort
Worth Certified MIWBE Companies (5%).
BGR shall receive a five percent (5%) Abatement if during the previous
calendar year (i) BGR spent at least $40,000.00 in Supply and Service
Expenditures and (ii) at least twenty-five percent (25%) of all such Supply and
Service Expenditures, regardless of the total amount of such Supply and Service
Expenditures in such year, were made with Fort Worth Certified M/WBE
Companies (the "M/WBE Supply and Service Spending Commitment").
Dollars spent with a Fort Worth Certified M/WBE Company shall also count as
dollars spent with a Fort Worth Company for purposes of measuring BGR's
compliance with the Fort Worth Supply and Service Spending Commitment.
2.2. Effect of Failure to Meet Section Certain 2.1 Commitments.
Subject to Section 2.1.1, the failure to meet the Fort Worth Construction
Commitment, the M/WBE Construction Commitment, the Fort Worth Employment
Commitment, the Central City Employment Commitment, the Fort Worth Supply and
Service Spending Commitment and/or the M/WBE Supply and Service Spending
Commitment shall result only in the failure to earn an a percentage of Abatement that
would otherwise have been available hereunder, and shall not constitute an Event of
Default as defined in Section 4.1 of this Agreement or trigger the cure periods and remedies
set forth in Section 4.
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Tax Abatement Agreement between
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2.3. Abatement Limitation.
Notwithstanding anything that may be interpreted to the contrary in this
Agreement, BGR's Abatement in any given year of the Abatement Term shall be based
(i) on the increase in the real property value of any improvements on the Land (but not
the Land itself) since January 1, 2007, up to a maximum of fifty percent (50%) of
$3,375,000.00 and (ii) on the increase in the value of New Taxable Tangible Personal
Property located on the Land since January 1, 2007, up to a maximum of fifty percent
(50%) of$900,000.00. In other words, with regard to the real property tax Abatement on
improvements on the Land, in any year in which the taxable value of those improvements
exceeds (i) the value of the improvements, if any, as of January 1, 2007 plus (ii)
$3,375,000.00, BGR's real property tax Abatement for that tax year shall be capped and
calculated as if the increase in the value of improvements on the Land since January 1,
2007 had only been $3,375,000.00. For example, and as an example only, if in a given
year of the Abatement Term the value of improvements on the Land is $4,000,000.00
over their value as of January 1, 2007, BGR would receive a maximum real property tax
Abatement of fifty percent (50%) of$3,375,000.00 for that year and would pay full taxes
on the $625,000.00 difference over the cap. Along the same lines, if the value of New
Taxable Tangible Personal Property located on the Land in a given year of the Abatement
Term is $1,000,000.00 over the value of that Property as of January 1, 2007, BGR would
receive a maximum personal property tax Abatement of fifty percent (50%) of
$900,000.00 for that year and would pay full taxes on the$100,000.00 difference over the
cap.
2.4. Protests Over Appraisals or Assessments.
BGR shall have the right to protest and contest any or all appraisals or assessments
of the Land and/or improvements or taxable tangible personal property thereon.
2.5. Terms.
This Agreement shall take effect on the date as of which both the City and BGR
have executed this Agreement (the "Effective Date") and, unless terminated earlier in
accordance with its terms and conditions, shall expire simultaneously upon expiration of
the Abatement Term, as defined below (the "Term"). The percentage of overall
Abatement available to BGR in any given year will be based in part on compliance with
the Fort Worth Construction Commitment, the M/WBE Construction Commitment, the
Fort Worth Employment Commitment, the Central City Employment Commitment, the
Fort Worth Supply and Service Spending Commitment and the M/WBE Supply and
Service Spending Commitment. The term during which the City will audit BGR's
compliance with such commitments shall commence on January 1, 2008 (calendar year
2008) and expire on December 31, 2017 (calendar year 2017) (the "Compliance
Auditing Term"). The term during which BGR may receive an Abatement shall
commence on January 1, 2009 (tax year 2009) and expire on December 31, 2018 (tax
year 2018) (the "Abatement Term").
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Tax Abatement Agreement between
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2.6. Abatement Application Fee.
The City acknowledges receipt from Buxton, on behalf of BGR, of the required
Application fee of one percent (1%) of Project's estimated cost, not to exceed $15,000. If
BGR diligently begins or causes to begin construction of the Required Improvements on
the Land within one (1) year from the date of the Application, this Application fee shall be
creditable in full to the benefit of BGR against any permit, impact, inspection or other
lawful fee required by the City in connection with the Project, and any remaining amounts
shall be refunded to BGR.
3. RECORDS,AUDITS AND EVALUATION OF PROJECT.
3.1. Inspection of the Land and Required Improvements.
At any time during normal office hours throughout the Term and the year following
the Term and following reasonable notice to BGR, the City shall have and BGR shall
provide or cause provision of access to the Land and any improvements thereon, including
the Required Improvements, in order for the City to inspect the Land and evaluate the
Required Improvements to ensure compliance with the terms and conditions of this
Agreement. BGR shall cooperate fully and shall cause its Affiliates to cooperate fully with
the City during any such inspection and/or evaluation. Notwithstanding the foregoing,
BGR shall have the right to require that any representative of the City be escorted by
BGR's security personnel while on the Land.
3.2. Audits.
The City shall have the right to audit the financial and business records of BGR
and any of its Affiliates that relate to the Project and this Agreement (collectively, the
"Records") at any time during the Compliance Auditing Term in order to determine
compliance with this Agreement and to calculate the correct percentage of Abatement
available hereunder. BGR shall make all Records available to the City on the Land or at
another location in the City following reasonable advance notice by the City and shall
otherwise cooperate fully with the City during any audit.
3.3. Reports and Filings.
3.3.1. Plan for Use of Fort Worth Certified M/WBE Companies.
Within ninety (90) calendar days following execution of this Agreement,
BGR will file a plan with the City as to how the M/WBE Construction
Commitment and M/WBE Supply and Service Spending Commitment will be
attained. BGR agrees to meet with the City's M/WBE Office and Minority and
Women Business Enterprise Advisory Committee as reasonably necessary for
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Tax Abatement Agreement between
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assistance in implementing such plan and to address any concerns that the City may
have with such plan.
3.3.2. Monthly Spending Reports.
From the date of execution of this Agreement until the Completion Date, in
order to enable the City to assist BGR in meeting the M/WBE Construction
Commitment, BGR will provide the City with a monthly report in a form
reasonably acceptable to the City that specifically outlines the then-current
aggregate Hard Construction Costs expended by and on behalf of BGR with Fort
Worth Certified M/WBE Companies for construction of the Required
Improvements.
3.3.3. Construction Spending Report.
Within ninety (90) calendar days following the Completion Date, BGR will
provide the City with a report in a form reasonably acceptable to the City that
specifically outlines the Construction Costs and Hard Construction Costs expended
by and on behalf of BGR for construction of the Required Improvements, together
with supporting invoices and other documents necessary to demonstrate that such
amounts were actually paid by BGR, including, without limitation, final lien
waivers signed by BGR's general contractor. This report shall also include actual
Hard Construction Costs expended by and on behalf of BGR for construction of the
Required Improvements with Fort Worth Companies and Fort Worth Certified
M/WBE Companies, together with supporting invoices and other documents
necessary to demonstrate that such amounts were actually paid by or on behalf of
BGR to such contractors.
3.3.4. Employment Report.
On or before February 1 following the end of each year of the Compliance
Auditing Term, BGR shall provide the City with a report in a form reasonably
acceptable to the City that sets forth (i) the total number of individuals who held
Full-time Jobs on the Land; (ii) the total number of individuals residing within the
corporate limits of the City who held Full-time Jobs on the Land; and (iii) the total
number of individuals residing within the Central City who held Full-time Jobs on
the Land, all as of August 1 (or such other date as agreed by both the City and
BGR) of the previous year, together with reasonable documentation regarding the
residency of such employees.
3.3.5. Quarterly Supply and Service Spending Report.
Within thirty (30) calendar days following the end of each calendar quarter
of the Compliance Auditing Term, BGR will provide a report to the City in a form
reasonably acceptable to the City that specifically outlines the then-aggregate
Supply and Service Expenditures made in the same calendar year with Fort Worth
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Tax Abatement Agreement between
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Certified M/WBE Companies. BGR agrees to meet with the City's M/WBE Office
and Minority and Women Business Enterprise Advisory Committee as reasonably
necessary to address any concerns arising from the report. The City will use the
fourth quarter report for each year of the Compliance Auditing Term to determine
the percentage of Abatement earned for the following year that is attributable to the
M/WBE Supply and Service Spending Commitment.
3.3.6. General.
BGR shall supply or cause to be supplied any additional information
requested by the City that is pertinent to the city's evaluation of compliance with
each of the terms and conditions of this Agreement. Failure to provide all
information required by this Section 3.3 shall constitute an Event of Default, as
defined and more specifically outlined in Section 4.1.
3.4. Determination of Compliance.
On or before August 1 of each year of the Abatement Term, the City shall make a
decision and rule on the actual annual percentage of Abatement available to BGR for that
tax year based on the City's review of the reports provided pursuant to Section 3.3, the
City's audit of the Records and any inspections of the Land and/or the Required
Improvements, and shall notify BGR in writing of such decision and ruling. If BGR
reasonably disagrees with the City's decision and ruling, BGR shall notify the City in
writing within fourteen (14) calendar days of receipt. In this event, BGR, at BGR's sole
cost and expense, may request an independent third party who is reasonably acceptable to
the City to verify the findings of the City within not more than thirty (30) calendar days
following receipt of BGR's notice to the City, and if any discrepancies are found, the City,
BGR and the independent third party shall cooperate with one another to resolve the
discrepancy. If resolution cannot be achieved, the matter may be taken to the City Council
for consideration in an open public meeting at which both City staff and BGR's
representatives will be given an opportunity to comment. The ruling and determination by
the City Council shall be final.
The actual percentage of the Abatement granted for a given year of the Term is
based upon BGR's compliance with the terms and conditions of this Agreement during the
previous year of the Compliance Auditing Term. Notwithstanding the foregoing, once the
City makes a decision and ruling as to whether BGR is entitled to the percentages of
Abatement available pursuant to Section 2.1.1, 2.1.2 and 2.1.3, BGR shall be entitled to the
benefits of those percentages of Abatement in each year of the Abatement Term without
the necessity of providing any additional information and documentation or obtaining any
additional decision or ruling from the City.
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Tax Abatement Agreement between
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4. EVENTS OF DEFAULT.
4.1. Defined.
BGR shall be in default of this Agreement if(i) any of the covenants set forth in
any portion or all of Sections 1.1, 1.2 and 1.3 of this Agreement are not met; (ii) any ad
valorem taxes owed by BGR or an Affiliate become delinquent and BGR or the Affiliate,
as the case may be, does not timely and properly follow the legal procedures for protest
and/or contest of any such ad valorem real property or tangible personal property taxes; or
(iv) subject to Section 2.2, BGR breaches any of the other terms or conditions of this
Agreement(collectively, each an"Event of Default").
4.2. Notice to Cure.
Subject to Section 5, if the City determines that an Event of Default has occurred,
the City shall provide a written notice to BGR that describes the nature of the Event of
Default. If the Event of Default is on due to a breach under Section 1.1 or Section 1.2 of
this Agreement, the City will have the right to terminate this Agreement immediately. For
any other Event of Default, BGR shall have thirty (30) calendar days (or such additional
time as the City and BGR reasonably and mutually agree upon) from the date of receipt of
this written notice to fully cure or have cured the Event of Default.
4.3. Termination for Event of Default and Payment of Liquidated Damages.
If an Event of Default has not been cured within the time frame specifically allowed
under Section 4.2, the City shall have the right to terminate this Agreement immediately
upon provision of written notice to BGR. BGR acknowledges and agrees that an uncured
Event of Default will (i)harm the City's economic development and redevelopment efforts
on the Land and in the vicinity of the Land; (ii)require unplanned and expensive additional
administrative oversight and involvement by the City; and (iii) otherwise harm the City,
and BGR agrees that the amounts of actual damages therefrom are speculative in nature
and will be difficult or impossible to ascertain. Therefore, upon termination of this
Agreement for any Event of Default and as authorized by Section 311.205 (b)(6) of the
Code, BGR shall pay the City, as liquidated damages, all taxes that were abated in
accordance with this Agreement for each year in which an Event of Default existed and
which otherwise would have been paid to the City in the absence of this Agreement. The
City and BGR agree that this amount is a reasonable approximation of actual damages that
the City will incur as a result of an uncured Event of Default and that this Section 4.3 is
intended to provide the City with compensation for actual damages and is not a penalty.
This amount may be recovered by the City through adjustments made to BGR's ad valorem
property tax appraisal by the appraisal district that has jurisdiction over the Land and over
any taxable tangible personal property located thereon. Otherwise, this amount shall be
due, owing and paid to the City within sixty (60) days following the effective date of
termination of this Agreement. In the event that all or any portion of this amount is not
paid to the City within sixty (60) days following the effective date of termination of this
Agreement, BGR shall also be liable for all penalties and interest on any outstanding
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Tax Abatement Agreement between
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amount at the statutory rate for delinquent taxes, as determined by the Code at the time of
the payment of such penalties and interest (currently, Section 33.01 of the Code). If this
Agreement is terminated on account of BGR's failure to construct or to cause to be
constructed the Required Improvements in accordance with Sections 1.1 and/or 1.2 of this
Agreement,no liquidated damages will be owed to the City because taxes will not yet have
been abated hereunder.
4.4. Termination at Will.
If the City and BGR mutually determine that the development or use of the Land or
the anticipated Required Improvements are no longer appropriate or feasible, or that a
higher or better use is preferable, the City and BGR may terminate this Agreement in a
written format that is signed by both parties. In this event, (i) if the Term has commenced,
the Term shall expire as of the effective date of the termination of this Agreement; (ii)there
shall be no recapture of any taxes previously abated; and (iii) neither party shall have any
further rights or obligations hereunder.
5. EFFECT OF SALE OF LAND AND/OR REQUIRED IMPROVEMENTS.
BGR may assign this Agreement and all or any portion of the benefits provided hereunder
to an Affiliate without the consent of the City,provided that(i)prior to or contemporaneously with
the effectiveness of such assignment, BGR provides the City with written notice of such
assignment, which notice shall include the name of the Affiliate and a contact name, address and
telephone number, and (ii) the Affiliate agrees in writing to assume all terms and conditions of
BGR under this Agreement. For purposes of this Agreement, an "Affiliate" means all entities,
incorporated or otherwise, under common control with BGR, controlled by BGR or controlling
BGR. For purposes of this definition, "control" means fifty percent (50%) or more of the
ownership determined by either value or vote. BGR may not otherwise assign this Agreement or
any of the benefits provided hereunder to another party without the consent of the City Council,
which consent shall not unreasonably be withheld or delayed, provided that (i) the City Council
finds that the proposed assignee is financially capable of meeting the terms and conditions of this
Agreement and (ii) the proposed assignee agrees in writing to assume all terms and conditions of
BGR under this Agreement. Any attempted assignment without the City Council's prior consent
shall constitute grounds for termination of this Agreement and the Abatement granted hereunder
following ten(10) calendar days of receipt of written notice from the City to BGR.
6. NOTICES.
All written notices called for or required by this Agreement shall be addressed to the
following, or such other party or address as either party designates in writing, by certified mail,
postage prepaid, or by hand delivery:
Page 12
Tax Abatement Agreement between
City of Fort Worth and BGR Partners,LP
City: BGR:
City of Fort Worth g6 r2- QA9--F1UEe5,L P
Attn: City Manager Attn: -PaVTv Gt-avrSZ
1000 Throckmorton Zbsi 5• TOC-41zrs vRrv�
Fort Worth, TX 76102 F:par woe? TX
with copies to:
the City Attorney and
Economic/Community Development
Director at the same address
7. COMPLIANCE WITH LAWS, ORDINANCES, RULES AND REGULATIONS;
ALL GRANTS SUBJECT TO APPROPRIATION.
This Agreement will be subject to all applicable federal, state and local laws, ordinances,
rules and regulations, including, but not limited to, all provisions of the City's Charter and
ordinances, as amended.
8. GOVERNMENTAL POWERS.
It is understood that by execution of this Agreement, the City does not waive or surrender
any of it governmental powers or immunities.
9. NO WAIVER.
The failure of either party to insist upon the performance of any term or provision of this
Agreement or to exercise any right granted hereunder shall not constitute a waiver of that party's
right to insist upon appropriate performance or to assert any such right on any future occasion.
10. VENUE AND JURISDICTION.
If any action, whether or not real or asserted, at law or in equity, arises on the basis of any
provision of this Agreement, venue for such action shall lie in state courts located in Tarrant
County, Texas or the United States Court for the Northern District of Texas—Fort Worth Division.
This Agreement shall be construed in accordance with the laws of the State of Texas.
Page 13
g
Tax Abatement Agreement between
City f Fort Worth and BGR Partners,LP
tY
11. NO THIRD PARTY RIGHTS.
The provisions of this Agreement are solely for the benefit of the City and BGR, and any
assign or successor of BGR that has satisfied the requirements of Section 5 of this Agreement, and
are not intended to create any rights, contractual or otherwise,in any other person or entity.
12. FORCE MAJEURE.
In addition to those instances where Force Majeure is addressed elsewhere in this
Agreement, it is expressly understood and agreed that if the performance by either party of any
obligation hereunder is delayed by reason of Force Majeure, the time period applicable to
performance of such obligation shall be extended for a period of time equal to the period of the
specific event of Force Majeure.
13. INTERPRETATION.
In the event of any dispute over the meaning or application of any provision of this
Agreement, this Agreement shall be interpreted fairly and reasonably, and neither more strongly
for or against either party, regardless of the actual drafter of this Agreement. In the event of any
conflict between the City's zoning ordinances, or other City ordinances and regulations, and this
Agreement, such ordinances or regulations shall control. In the event of any conflict between the
body of this Agreement and Exhibit"D", the body of this Agreement shall control.
14. BONDHOLDER RIGHTS.
The Required Improvements will not be financed by tax increment bonds. This Agreement
is subject to the rights of holders of outstanding bonds of the City.
15. CONFLICTS OF INTEREST.
Neither the Land nor any of the Required Improvements covered by this Agreement are
owned or leased by any member of the City Council, any member of the City Plan or Zoning
Commission or any member of the governing body of any taxing unit with jurisdiction in the Zone.
16. CAPTIONS.
Captions and headings used in this Agreement are for reference purposes only and shall not
be deemed a part of this Agreement.
Page 14
Tax Abatement Agreement between
City of Fort Worth and BGR Partners,LP
17. ENTIRETY OF AGREEMENT.
This Agreement, including any exhibits attached hereto and any documents incorporated
herein by reference, contains the entire understanding and agreement between the City and BGR,
their assigns and successors in interest, as to the matters contained herein. Any prior or
contemporaneous oral or written agreement is hereby declared null and void to the extent in
conflict with any provision of this Agreement. This Agreement shall not be amended unless
executed in writing by both parties and approved by the City Council.
18. COUNTERPARTS.
This Agreement may be executed in multiple counterparts, each of which shall be
considered an original,but all of which shall constitute one instrument.
IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed
as of the later date below:
CITY OF FORT WORTH: APPROVED AS TO FORM AND LEGALITY:
1
By. By.
Dale Fisseler Peter Vaky
Assistant City Manager Assistant City Attorney
Date: rg �� 0 z M &C: C '22206
ATTEST:
By: &L-A�
Ass+. City S41cretary
Page 15
Tax Abatement Agreement between
City of Fort Worth and BGR Partners,LP.
BGR PARTNERS,LP,
a Texas limited partnership:
By: BGR Building, Inc., a Texas corporation and
its Ge a r:
By:
Tho . Buxto
President
Date:
ATTEST:
By:
Page 16
Tax Abatement Agreement between
City of Fort Worth and BGR Partners,LP
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Dale Fisseler,
Assistant City Manager of the CITY OF FORT WORTH, a municipal corporation organized
under the laws of the State of Texas, known to me to be the person and officer whose name is
subscribed to the foregoing instrument, and acknowledged to me that the same was the act of the
CITY OF FORT WORTH, that he was duly authorized to perform the same by appropriate
resolution of the City Council of the City of Fort Worth and that he executed the same as the act of
the CITY OF FORT WORTH for the purposes and consideration therein expressed and in the
capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this OUS day of
2007.
ANA L.BRISE:NO
Notary Public n and for Notary Public,State of Texas
the State of Texas My Commission Expires
march 07,2011
Notary's Printed Name
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Thomas J.
Buxton, President of BGR Building, Inc., a Texas corporation and General Partner of BGR
PARTNERS, LP, known to me to be the person and officer whose name is subscribed to the
foregoing instrument, and acknowledged to me that the same was his act and that he executed the
same as the act of BGR PARTNERS, LP for the purposes and consideration therein expressed
and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
2007.
Public in and for
the S ate of Texas
Notary's Printed Name
EXHIBITS
"A"—Tax Abatement Policy
"B"—Map and Legal Description of the Land
"C"—BGR's Tax Abatement Application
"D"—Depiction and Description of the Required Improvements
"E"—Map of Central City
N pn �pi
EXHIBIT "A"
Tax Abatement Policy
A Resolution
NO. 3363-06-2006
PROVIDING THAT THE CITY OF FORT WORTH ("CITY") ELECTS TO BE
ELIGIBLE TO PARTICIPATE IN TAX ABATEMENT AUTHORIZED BY CHAPTER
312 OF THE TEXAS TAX CODE AND ESTABLISHING A TAX ABATEMENT
POLICY GOVERNING SUBSEQUENT TAX ABATEMENT AGREEMENTS
WHEREAS, a municipality may enter into tax abatement agreements authorized by
Chapter 312 of the Texas Tax Code ("Code") only if the governing body of the
municipality has previously adopted a resolution stating that the municipality elects to be
eligible to participate in tax abatement and has established guidelines and criteria
governing tax abatement agreements ("Tax Abatement Policy"); and
WHEREAS, pursuant to Code, a Tax Abatement Policy is effective for two (2) years from
the date of its adoption; and
WHEREAS, the City last adopted a tax abatement policy in 2004;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF FORT WORTH, TEXAS:
1. THAT the City hereby elects to be eligible to participate in tax abatement in
accordance with Chapter 312 of the Code.
2. THAT the City hereby adopts the Tax Abatement Policy attached hereto as Exhibit
"A", which constitutes the guidelines, criteria, and procedures governing tax abatement
agreements entered into by the City, to be effective from June 15, 2006 through June
14, 2008, unless earlier amended or repealed by a vote of at least three-fourths (3/4) of
the members of the City Council.
3. THAT this Tax Abatement Policy, as it may subsequently be amended, will expressly
govern all tax abatement agreements entered into by the City during the period in
which such Tax Abatement Policy is in effect.
APPROVED
CITY COUNCIL
ADOPTED this 13" day of June 2006.
JUN 13 2006
ATTEST: �ye
By: fN-� City of Fort Worit4Tex"
Marty He rix, City Secretary
crrvarreavvmavin
City of Fort Worth
General Tax Abatement policy
Effective June 15,2006 through June 14,2008
1. ,GENERAL PROVISIONS.
1.1. Purpose.
Chapter 312 of the Texas Tax Code allows,but does not obligate or require, the City to
grant a tax abatement on the value added to a particular property on account of a specific
development project that meets the eligibility requirements set forth in this Policy. In order for
the City to participate in tax abatement, the City is required to establish guidelines and criteria
governing tax abatement agreements. This Policy is intended to set forth those guidelines and
criteria for persons or entities interested in receiving a tax abatement from the City. This
Policy shall expire on June 14,2008.
1.2. General Elizibility Criteria.
A tax abatement can only be granted to persons or entities eligible for tax abatement
pursuant to Section 312.204(a) of the Texas Tax Code, which persons or entities as of the
effective date of this Policy are(i)the owner of taxable real property located in a tax abatement
reinvestment zone; or (ii) the owner of a leasehold interest in real property located in a tax
abatement reinvestment zone. Although the City will consider all applications for tax
abatement that meet the eligibility requirements set forth in this Policy, it is especially
interested in development projects that:
• result in the creation of new full-time jobs for Fort Worth Residents and Central City
Residents;and
are located in the Central City;and
• result in development with little or no additional cost to the City while producing a
positive economic impact to the tax p4ying citizens of Fort Worth: and
• have a positive impact on Fort Worth Companies and Fort Worth Certified NVWBE
Companies;and
• promotes quality,affordable housing_and/4r mixed income development.
1.3. General Exclusions and Limitations.
13.1. Lessees of Real Property.
A person or entity seeking tax abatement on real property that is leased from a
third party should be advised that pursuant to state law,the City can only abate taxes on
the increased value of the taxable leasehold interest in the real property, if any, and the
increase in value of taxable improvements and tangible personal property located on the
real property and subject to the leasehold interest, if any. Before applying for a tax
abatement from the City, such persons or entities should seek professional and legal
guidance, and may wish to consult with the appraisal district having jurisdiction over
the property in question, as to whether their development projects will result in a
taxable leasehold interest in the property and, if so, the anticipated value of that
leasehold interest.
City of Fort Worth General Tax Abatement Policy
Page 1 of 11
1.3.2. Property Located in Neighborhood Empowerment Zones "NEZs" .
The City Council has designated certain distressed areas of the City needing
affordable housing, economic development and expanded public services as NEZs.
Notwithstanding anything that may be interpreted to the contrary, this Policy does not
apply to property located in a NEZ. A person or entity seeking tax abatement on
property owned or leased in a NEZ should refer to the NEZ Policy.
1.3.3. Property Located in Tax Increment Reinvestment Zones("Man.
The City Council has designated certain areas of the City as TIFs. This Policy
does apply to property located in a TIF. However, a person or entity seeking tax
abatement on property owned or leased in a TIF should be advised that state law
requires a TIF's board of directors and the governing bodies of all taxing jurisdictions
contributing tax increment revenue to a TIF to approve a City tax abatement agreement
on property located in that TIF before the agreement can take effect.
1.3.4. Property Located in Enterprise Zones.
The State of Texas has designated certain areas of the City with high
unemployment as enterprise zones. Various economic development incentives are
available to owners of property located in enterprise zones. In accordance with state
law, all property located within an enterprise zone is automatically designated as a tax
abatement reinvestment zone. However, the City typically designates individual tax
abatement reinvestment zone overlays when it wishes to grant tax abatements on
property located in an enterprise zone.
2. DEFINITIONS.
Capitalized terms used in this Policy but not defined elsewhere shall have the following
meanings:
Abatement or Tax Abatement- A full or partial exemption from ad valorem taxes on eligible taxable
real and personal property located in a Reinvestment Zone for a specified period on the difference
between (i) the amount of increase in the appraised value (as reflected on the certified tax roll of the
appropriate county appraisal district) resulting from improvements begun after the execution of a
written Tax Abatement Agreement and (ii) the appraised value of such real estate prior to execution of
a written Tax Abatement Agreement (as reflected on the most recent certified tax roll of the
appropriate county appraisal district for the year prior to the date on which the Tax Abatement
Agreement was executed).
Abatement Benefit Term — The period of time specified in a Tax Abatement Agreement, but not to
exceed ten(10)years,that the recipient of a tax abatement may receive the Abatement.
Abatement Compliance Term —The period of time specified in a Tax Abatement Agreement during
which the recipient of a tax abatement must comply with the provisions and conditions of the Tax
City of Fort Worth General Tax Abatement Policy
Page 2 of 11
Abatement Agreement and file an annual report with the City which outlines and documents the extent
of the recipient's compliance with such provisions and conditions.
Business Expansion Project — A project in the square footage of a facility or facilities currently
located in the City will be expanded.
Capital Investment - Only real property improvements such as, without limitation, new facilities and
structures, site improvements, facility expansion, and facility modernization. Capital Investment does
NOT include (i) land acquisition costs; (ii) any improvements existing on the property prior to
execution of a Tax Abatement Agreement; or (iii) personal property such as, without limitation,
machinery,equipment,supplies and inventory.
Central City—A geographic area within the City, defined by the City Council and shown in the map
of Exhibit"A"of this Policy.
Central City Resident—An individual whose principle place of residence is at a location within the
Central City.
Commercial/Industrial Development Project — A development project in which a facility or
facilities will be constructed or renovated on property that is or meets the requirements to be zoned for
commercial or industrial use pursuant to the City's Zoning Ordinance.
CDBG Eligible Area—Any census tract in which fifty-one percent (51%) or more of the residents in
that census tract have low to moderate incomes, as defined by the United States Department of
Housing and Urban Development.
Commitment - An agreed upon amount and/or percentage related to the utilization of Fort Worth
Companies and Fort Worth Certified M/WBE Companies for construction spending on a given project
or for Supply and Service Expenditures and related to the hiring of Fort Worth Residents and Central
City Residents.
Fort Worth Certified M/WBE Company — A minority or woman-owned business that has a
principal office located within the corporate limits of the City and has received certification as either a
minority business enterprise (MBE) or a woman business enterprise (WBE) by the North Central
Texas Regional Certification Agency (NCTRCA) or the Texas Department of Transportation
(TxDOT),Highway Division.
Fort Worth Company —A business that has a principal office located within the corporate limits of
the City.
Fort Worth Resident— An individual whose principal place of residence is at a location within the
corporate limits of the City.
Mixed-Use Development Project — A development project in which a facility or facilities will be
constructed or renovated such that(i)at least twenty percent(200/6)of the total gross floor area will be
used as residential space and(ii)at least ten percent(10%)of the total gross floor area will be used for
office,restaurant,entertainment and/or retail sales and service space.
M/WBE Advisory Committee (MWBEAC) — A committee appointed by the Fort Worth City
Council to review and make recommendations as to Commitments proposed by an applicant for Tax
City of Fort Worth General Tax Abatement Policy
Page 3 of 11
Abatement if any such Commitments contain less than a 25% expenditure with Fort Worth Certified
MJWBE companies for construction spending and for Supply and Service Expenditures and to advise
the City as to the availability of Fort Worth Certified M/WBEs.
Reinvestment Zone — An area designated by the City as a tax abatement reinvestment zone in
accordance with Chapter 312 of the Texas Tax Code.
Residential Development Project — A development project in which a facility or facilities will be
constructed or renovated as multi-family living units on property that is or meets requirements to be
zoned for multi-family or mixed-use pursuant to the City's Zoning Ordinance.
Supply and Service Expenditures — Discretionary expenditures made as part of normal business
operations on the real property subject to tax abatement, such as, by way of example only, office
supplies,janitorial supplies and professional services.
Tax Abatement Agreement — A written Agreement that the recipient of a tax abatement must enter
into with the City and that outlines the specific terms and conditions pertaining to and governing the
tax abatement.
3. RESIDENTIAL DEVELOPMENT PROJECTS ELIGIBLE FOR TAX ABATEMENT.
To be eligible for tax abatement under this Policy, a Residential Development Project must meet
all of the criteria set forth in one of the following paragraphs:
3.1. (i) Be located in the Central City; and (ii) Satisfy the Capital Investment and
affordability criteria necessary for a Residential Development Project to be eligible for tax abatement
under the NEZ Policy; and (iii) Meet all of the Commitments set forth in Section 7 of this Policy
(Standard Requirements for Residential Development Projects, Certain Commercial/ Industrial and
Mixed-Use Development Projects);or
3.2. (i)Be located in a CDBG Eligible Area; and(ii)Have a capital investment of at least$5
million; and (iii) Meet all of the Commitments set forth in Section 7 of this Policy (Standard
Requirements for Residential Development Projects and Certain Commercial /Industrial and Mixed-
Use Development Projects);or
3.3. (i)Be located outside of the Central City;and(ii)Have a capital investment of at least$5
million; and (iii) Meet all of the Commitments set forth in Section 7 of this Policy (Standard
Requirements for Residential Development Projects and Certain CommerciaVIndustrial and Mixed-
Use Development Projects).
In addition, an applicant for a Residential Development Project tax abatement that includes, in
whole or in part, the renovation of one or more existing structures shall provide, as part of the
applicant's Tax Abatement Application, a detailed description and the estimated costs of the
renovations contemplated.
4. COMMERCIAL/INDUSTRIAL DEVELOPMENT PROJECTS ELIGIBLE FOR TAX
ABATEMENT.
City of Fort Worth General Tax Abatement Policy
Page 4 of 11
To be eligible for tax abatement under this Policy, a Commercial/Industrial Development
Project must meet all of the criteria set forth in one of the following paragraphs:
4.1. (i) Have a minimum Capital Investment of$250,000; and (ii) Be located in the Central
City or on property immediately adjacent to the major thoroughfares which serve as boundaries to the
Central City, or within a CDBG Eligible Area; and (iii) meet all of the Commitments of Section 7 of
this Policy (Standard Requirements For Residential Development Projects, Certain
Commercial/Industrial Development Projects, Mixed-Use Development Projects, And Business
Expansion Projects);or
4.2. (i) Have a minimum Capital Investment of $10 million; and (ii) meet all of the
Commitments of Section 7 of this Policy (Standard Requirements For Residential Development
Projects, Certain Commercial/Industrial Development Projects, Mixed-Use Development Projects,
And Business Expansion Projects); or
4.3. (i) Have a minimum Capital Investment of $100 million; and (ii) satisfy additional
requirements that may be set forth by the City on a project-specific basis.
In addition, an applicant for tax abatement on a Commercial/Industrial Development Project
that includes, in whole or in part, the renovation of one or more existing structures shall provide, as
part of the applicant's Tax Abatement Application,a detailed description and the estimated costs of the
renovations contemplated.
5. MIXED-USE DEVELOPMENT PROJECTS ELIGIBLE FOR TAX ABATEMENT.
To be eligible for tax abatement under this Policy, a Mixed-Use Development Project must
meet all of the criteria set forth in one of the following paragraphs:
5.1. (i) Have a minimum Capital Investment of$250,000; and (ii) Be located in the Central
City or on property immediately adjacent to the major thoroughfares which serve as boundaries to the
Central City, or within CDBG Eligible Area; and(iii)meet all of the Commitments of Section 7 of this
Policy (Standard Requirements For Residential Development Projects, Certain Commercial/Industrial
Development Projects,Mixed-Use Development Projects,And Business Expansion Projects);or
5.2. (i) Have a minimum Capital Investment of $10 million; and (ii) meet all of the
Commitments of Section 7 of this Policy (Standard Requirements For Residential Development
Projects, Certain Commercial/Industrial Development Projects, Mixed-Use Development Projects,
And Business Expansion Projects);or
5.3. (i) Have a minimum Capital Investment of$100 million; and (ii) consist of multiple
land uses,whereby no single-land use would comprise greater than 40%of the project's land area.; and
(iii) emphasize live/work/play opportunities with multi-modal access; and, (iv) satisfy additional
requirements that may be set forth by the City on a project-specific basis.
In addition, an applicant for tax abatement on a Mixed-Use Development Project that includes,
in whole or in part, the renovation of one or more existing structures shall provide, as part of the
applicant's Tax Abatement Application, a detailed description and the estimated costs of the
renovations contemplated.
City of Fort Worth General Tax Abatement Policy
Page 5 of 11
6. BUSINESS EXPANSION PROJECTS FOR EXISTING FORT WORTH BUSINESSES
To be eligible for tax abatement under.this Policy, a Business Expansion Project must meet all
of the criteria set forth in on the following paragraphs:
6.1 (i) Be located in the Central City or a CDBG Eligible Area; and (ii) Have been in
business continuously for at least six months prior to the submission of an Application
to the City for Tax Abatement, and (iii) Have a total real and personal property
investment of at least $250,000; and (iv) Meet all of the Commitments set forth in
Section 7 of this Policy (Standard Requirements For Residential Development Projects,
Certain Commercial/Industrial Development Projects, .Mixed-Use Development
Projects, And Business Expansion Projects);or
6.2 (i)Be located outside of the Central City and CDBG Eligible Area and (ii)Have been in
business continuously for at least five years prior to the submission of an Application to
the City for Tax Abatement, and(iii)Have a total real and personal property investment
of at least $10 million (a minimum Capital Investment of$1 million) and(iv) Meet all
of the Commitments set forth in Section 7 of this Policy (Standard Requirements For
Residential Development Projects, Certain Commercial/Industrial Development
Projects, Mixed-Use Development Projects, And Business Expansion Projects)
improvements.
7. STANDARD REQUIREMENTS FOR RESIDENTIAL DEVELOPMENT PROJECTS,
CERTAIN COMMERCIAL/INDUSTRIAL DEVELOPMENT PROJECTS,MIXED-
USE DEVELOPMENT PROJECTS,AND BUSINESS EXPANSION PROJECTS.
To be eligible for property tax abatement, a Residential Development Project meeting the
requirements set forth in Sections 3.1, 3.2 or 3.3 of this Policy; a Commercial/Industrial Development
Project meeting the requirements set forth in Sections 4.1 and 4.2 of this Policy; a Mixed-Use
Development Project meeting the requirements set forth in Sections 5.1 and 5.2; and a Business
Expansion Project meeting the requirements set forth in Sections 6.1 or 6.2 shall meet all of the
following requirements:
7.1. Commit to provide full-time employment to a set number and/or a percentage of full-
time jobs offered on the real property where the Development is located, to Central City Residents,
which Commitment will be agreed upon and set forth in the Tax Abatement Agreement; and
7.2. Commit to provide full-time employment to a set number and/or a percentage of full-
time jobs offered on the real property where the Development is located, to Fort Worth Residents,
which Commitment will be agreed upon and set forth in the Tax Abatement Agreement;and
7.3. Commit to spend a set amount or percentage of total construction costs and annual
Supply and Service Expenses with Fort Worth Companies, which Commitment will be agreed upon
and set forth in the Tax Abatement Agreement;and
City of Fort Worth General Tax Abatement Policy
Page 6 of 11
e
7.4 Commit to spend a set amount or percentage of total construction costs and annual
Supply and Service Expenditures with Fort Worth Certified M/WBE Companies. Any Commitment
below 25%of the total construction costs and of the annual Supply and Service Expenses will require
an applicant for Abatement to meet with the City of Fort Worth's M/WBE Advisory Committee to
seek input and assistance prior to action by the City Council. The M/WBE Advisory Committee will
provide the City Council with a recommendation related to the utilization of Fort Worth Certified
M/WBEs. The M/WBE Advisory Committee's recommendation, if different from the Commitment
made by the applicant for Abatement, will be non-binding, but should be taken under advisement by
the City Council
7.5 All Commitments established pursuant to Sections 7.1 through 7.4 will be agreed upon
and set forth in the Tax Abatement Agreement and, if not met, will serve to reduce the value of
Abatement in accordance with the specific terms and conditions of the Tax Abatement Agreement; and
7.6. Commit to file a plan with the City (within six weeks of City Council approval of the
Tax Abatement Agreement) as to how the Commitments for use of Fort Worth Certified M/WBE
Companies will be attained and, in order to demonstrate compliance with that plan, (i) to file monthly
reports with the City and the Minority and Women Business Enterprise Advisory Committee
throughout the construction phase of any improvements required by the Tax Abatement Agreement
reflecting then-current expenditures made with Fort Worth Certified M/WBE Companies, (ii) list the
name of a contact person that will have knowledge of the construction phase of the project, and (iii)
from the start of the First Compliance Auditing Year (as defined in Section 8) until expiration of the
Tax Abatement Agreement,to file quarterly reports with the City reflecting then-current expenditures
made with Fort Worth Certified M/WBE Companies.
The City Council may, in its sole discretion, require a Commercial/Industrial Development
Project meeting the criteria set forth in Section 4.3 of this Policy and a Mixed-Use Development
Project meeting the criteria set forth in Section 5.3 of this Policy to satisfy some, all or none of the
requirements set forth in this Section 7.
8. TAX ABATEMENT CALCULATION.
All Tax Abatement Agreements shall require the recipient to construct or cause construction of
specific improvements on the real property that is subject to the abatement. Failure to.construct these
specific improvements at the minimum Capital Investment expenditure and by the deadline established
in the Tax Abatement Agreement shall give the City the right to terminate the Tax Abatement
Agreement. The amount of a particular tax abatement shall be negotiated on a case-by-case basis and
specifically set forth in the Tax Abatement Agreement. The calculation of tax abatement for a
Commercial/Industrial Project that meets the requirements of Section 4.3 of this Policy or for a Mixed-
Use Development Project that meets the requirements of Section 5.3 of this Policy shall be negotiated
on a ease-by-case basis and governed solely by the terms and conditions of the Tax Abatement
Agreement. The calculation of tax abatement for any other project shall be negotiated on a case-by-
case basis, but shall be governed directly in accordance with the degree to which the recipient.meets
the four (4) Commitments set forth in Sections 7.1, 7.2, 7.3 and 7.4 of this Policy, which will be
outlined in the Tax Abatement Agreement. A Tax Abatement Agreement may establish a base
abatement that is (i) reduced in accordance with the recipient's failure to meet one or more of such
Commitments or (ii) increased in accordance with the recipient's meeting and/or exceeding one or
more of such Commitments.
City of Fort Worth General Tax Abatement Policy
Page 7 of l 1
9. TAX ABATEMENT IMPLEMENTATION.
The term of a tax abatement shall be negotiated on a case-by-case basis and specified hi the
Tax Abatement Agreement. The City will audit and determine the recipient's compliance with the
terms and conditions of the Tax Abatement Agreement for a full calendar year prior to the first year in
which the tax abatement is available (the "First Compliance Auditing Year"). The Compliance
Auditing Year shall either be the full calendar year in which a final certificate of occupancy is issued
for the improvements required by the Tax Abatement Agreement for the real property subject to
abatement or the following calendar year,as negotiated and set forth in the Tax Abatement Agreement.
The first tax abatement will be available to the recipient for the tax year following the Compliance
Auditing Year. In other words, the degree to which the recipient meets the Commitments set forth in
the Tax Abatement Agreement will determine the percentage of taxes abated for the following tax
year. The City will continue to audit and determine the recipient's compliance with the terms and
conditions of the Tax Abatement Agreement for each subsequent calendar year, which findings shall
govern the percentage of taxes abated for the following tax year, until expiration of the Tax Abatement
Agreement.
10. TAX ABATEMENT APPLICATION PROCEDURES.
Each tax abatement application shall be processed in accordance with the following standards
and procedures:
10.1. Submission of Application.
If a given development project qualifies for tax abatement pursuant to the eligibility
criteria detailed in Section 4, Section 5, Section 6, or Section 7 of this Policy, as the case may
be, an applicant for tax abatement must complete and submit a City of Fort Worth Tax
Abatement Application (with required attachments) (the "Application"). An Application can
be obtained from and should be submitted to the City's Economic and Community
Development Department. In order to be complete, the Application must include
documentation that there are no delinquent property taxes due for the property on which the
development project is to occur.
10.2. Application Fee.
Upon submission of the Application, an applicant must also pay an application fee. This
application fee shall be $15,000 ("Application Fee") of which $13,000 will be credited to any
permit, impact, inspection or other fee paid by the applicant and required by the City directly in
connection with the proposed project, as long as substantive construction on the project, as
determined by the City in its sole and reasonable discretion, has been undertaken on the
property specified in the application within one (1) year following the date of its submission.
The remaining $2,000 is non-refundable and will be utilized for City staff expenses associated
with processing the Application and fees associated with legal notice requirements.
10.3. Application Review and Evaluation.
The Economic and Community Development Department will review an Application
for accuracy and completeness. Once complete, the Economic and Community Development
Department will evaluate an Application based on the perceived merit and value of the project,
including,without limitation,the following criteria:
City of Fort Worth General Tax Abatement Policy
Page 8 of I 1
• Types and number of new jobs created, including respective wage rates, and employee
benefits packages such as health insurance, day care provisions, retirement packages,
transportation assistance, employer-sponsored training and education, and any other
benefits;
• Percentage of new jobs committed to Fort Worth Residents;
• Percentage of new jobs committed to Central City Residents;
• Percent of construction contracts committed to (i) Fort Worth Companies and (ii) Fort
Worth Certified M/WBE Companies;
• Percentage of Supply and Service Contract expenses committed to (i) Fort Worth
Companies and(ii)Fort Worth Certified WWBE Companies;
• Financial viability of the project;
• The project's reasonably projected increase in the value of the tax base;
• Costs to the City(such as infrastructure participation,etc.);
• Remediation of an existing environmental problem on the real property;
• The gender, ethnic background and length of employment of each member of the
applicant's board of directors, governing body or upper management, as requested by
the City;and
• For residential projects, number or percentage of units reserved as affordable housing
for persons with incomes at or below eighty percent (800/9) of median family income
based on family size (as established and defined by the United States Department of
Housing and Urban Development)
• Other items that the City may determine to be relevant with respect to the project
Based upon the outcome of the evaluation,the Economic and Community Development
Office will present the Application to the City Council's Central City Revitalization and
Economic Development Committee. In an extraordinary circumstance, the Economic and
Community Development Department may elect to present the Application to the full City
Council without initial input from the Central City Revitalization and Economic Development
Committee.
10.4. Consideration by Council Committee.
The City Council's Central City Revitalization and Economic Development Committee
will consider the Application in an open meeting or, if circumstances dictate and the law
allows, a closed meeting. The Committee may either (i) recommend approval of the
Application, in which case City staff will incorporate the terms of the Application into a Tax
Abatement Agreement for subsequent consideration by the full City Council with the Central.
City of Fort Worth General Tax Abatement Policy
Page 9 of 11
City Revitalization and Economic Development Committee's recommendation to approve the
Agreement; (ii) request modifications to the Application, in which case Economic
Development Office staff will discuss the suggested modifications with the applicant and,if the
requested modifications are made, resubmit the modified Application to the Central City
Revitalization and Economic Development Committee for consideration; or (iii) deny to
recommend consideration of the Application by the full City Council.
10.5. Consideration by the City Council.
A Tax Abatement Agreement will only be considered by the City Council if the
applicant has first executed the Tax Abatement Agreement. The City Council retains sole
authority to approve or deny any Tax Abatement Agreement and is under no obligation to
approve any Application or Tax Abatement Agreement.
11. GENERAL POLICIES AND REQUIREMENTS.
Notwithstanding anything that may be interpreted to the contrary herein, the following general
terms and conditions shall govern this Policy:
11.1. A tax abatement shall not be granted for any development project in which a building
permit application has been filed with the City's Development Department. In addition, the City will
not abate taxes on the value of real or personal property for any period of time prior to the year of
execution of a Tax Abatement Agreement with the City.
11.2. The applicant for a tax abatement must provide evidence to the City that demonstrates
that a tax abatement is necessary for the financial viability of the development project proposed.
11.3. In accordance with state law, the City will not abate taxes levied on inventory, supplies
or the existing tax base.
11.4. An applicant for tax abatement shall provide wage rates, employee benefit information
for all positions of employment to be located in any facility covered by the Application.
11.5. Unless otherwise specified in the Tax Abatement Agreement, the amount of real
property taxes to be abated in a given year shall not exceed one hundred fifty percent (150%) of the
amount of the minimum Capital Investment expenditure required by the Tax Abatement Agreement for
improvements to the real property subject to abatement multiplied by the City's tax rate in effect for
that same year, and the amount of personal property taxes to be abated in a given year shall not exceed
one hundred fifty percent (150%) of the minimum value of personal property required by the Tax
Abatement Agreement to be located on the real property, if any, subject to abatement multiplied by the
City's tax rate in effect for that same year.
11.6. The owner of real property for which a Tax Abatement has been granted shall properly
maintain the property to assure the long-term economic viability of the project. In addition, if a
citation or citations for City Code violations are issued against a project while a Tax Abatement
Agreement is in effect, the amount of the tax abatement benefit will be subject to reduction, as
provided in the Tax Abatement Agreement.
City of Fort Worth General Tax Abatement Policy
Page 10 of 11
11.7. If the recipient of a tax abatement breaches any of the terms or conditions of the Tax
Abatement Agreement and fails to cure such breach in accordance with the Tax Abatement Agreement,
the City shall have the right to terminate the Tax Abatement Agreement. In this event, the recipient
will be required to pay the City any property taxes that were abated pursuant to the Tax Abatement
Agreement prior to its termination.
11.8. As part of the consideration under all Tax Abatement Agreements,the City shall have,
without limitation, the right to (i) review and verify the applicant's financial statements and records
related to the development project and the abatement in each year during the term of the Tax
Abatement Agreement prior to the granting of a tax abatement in any given year and (ii) conduct an
on-site inspection of the development project in each year during the term of the Tax Abatement to
verify compliance with the terms and conditions of the Tax Abatement Agreement. Any incidents of
non-compliance will be reported to all taxing units with jurisdiction over the real property subject to
abatement.
11.9. The recipient of a tax abatement may not sell, assign, transfer or otherwise convey its
rights under a Tax Abatement Agreement unless otherwise specified in the Tax Abatement Agreement.
A sale, assignment, lease, transfer or conveyance of the real property that is subject to the abatement
and which is not permitted by the Tax Abatement Agreement shall constitute a breach of the Tax
Abatement Agreement and may result in termination of the Tax Abatement Agreement and recapture
of any taxes abated after the date on which the breach occurred. For additional information about this
Tax Abatement Policy, contact the City of Fort Worth's Economic & Community Development
Department using the information below:
City of Fort Worth
Economic&Community Development Department
1000 Throckmorton Street
Fort Worth,Texas 76102
(817)392-6103
hM://fortworthgov.or ecodev/
FORT WORT
City of Fort Worth General Tax Abatement Policy
Page 11 of 11
EXHIBIT `B"
Map and Leizal Description of Land
Metes and Bounds Description
2.775 Acres
Allen Beard Survey, A-137
M. Johnson Survey, A-858
Fort Worth, Tarrant County, Texas
BEING a tract of land located in the Allen Beard Survey, Abstract no. 137 and the M.
Johnson Survey, Abstract No. 858 in the City of Fort Worth, Tarrant County, Texas,
being part of Tract 8 described by document to Mercantile Partners, LP, as recorded in
Volume 11752 Pages 207, Deed Records, Tarrant County, Texas (DRTCT), and a tract of
land described by document to Mercantile Partners, LP, as recorded in Volume 15068,
Page 32, DRTCT and being more particularly described by metes and bounds as follows:
(bearings referenced to the west line of Lot 2, Block 5, Mercantile Center an Addition to
the City of Fort Worth as recorded in Cabinet B, Slide 2121 Plat Records, Tarrant County
Texas (PRTCT)):
BEGINNING at a set 5/8-inch capped iron rod marked"BHB INC" (set iron rod) in the
south right-of-way line of Meacham Boulevard (Variable right-of-way), from which a
5/8-inch iron rod found for the southernmost southwest corner of Lot 1, Block 2A,
Mercantile Center, an addition to the City of Fort Worth as recorded in Cabinet B, Slide
871, PRTCT, same being in the north right-of-way line of said Meacham Boulevard bears
North 05°24'08" West, a distance of 132.60 feet;
THENCE South 89°56'00" East, along said south right-of-way line, a distance of 195.36
feet to a point for the northwest corner of Lot 1, Block 5, Mercantile Center, an addition
to the City of Fort Worth, as recorded in Cabinet B, Slide 1205, PRTCT, from which a
found 5/8-inch iron rod bears South 25°01'West, a distance of 0.6 feet;
THENCE SOUTH, along the west line of said Lot 1, a distance of 262.50 feet to a set
iron rod, in the north line of Lot 2, Block 5, Mercantile Center, an addition to the City of
Fort Worth, as recorded in Cabinet B, Slide 2121, PRTCT;
THECE WEST, along said north line, a distance of 59.59 feet to a set iron rod at the
northwest corner of said Lot 2;
THENCE SOUTH, along the west line of said Lot 2, a distance of 279.41 feet to a found
5/8-inch iron rod for the southwest corner of said Lot 2, same being in the north right-of-
way line of South Polaris Drive (60'right-of-way);
THENCE North 89°56'00" West along said north right-of-way line, a distance of 74.48
feet from which a found 5/8-inch capped iron rod marked"Brookes-Baker" bears South
40°26'East, a distance of 0.7 feet;
THENCE northwesterly along the east right-of-way of Sylvania Avenue (Variable right-
of-way) the following calls and distances:
Ordinance Designating Tax Abatement Reinvestment Zone Number Fifty-Nine,
City of Fort Worth,Texas
Along the arc of a curve to the right, having a central angle of 49°12'51", a radius
of 120.00 feet, an arc length of 103.07 feet, and a chord which bears North
65°19'42" West, a distance of 99.93 feet to a set iron rod;
North 00°09'23"East, a distance of 97.18 feet to a set iron rod;
Along the arc of a curve to the left,having a central angle of 03°44'25", a radius
of 622.96 feet, an are length of 40.67 feet, and a chord which bears North
24°49'06" West, a distance of 40.66 feet to a set iron rod;
North 14°13'50" West, a distance of 131.00 feet to a set iron rod;
Along the arc of a curve to the right,having a central angle of 12°0848", a radius
of 510.96 feet, an are length of 108.32 feet, and a chord which bears North
06°07'31" West, a distance of 108.12 feet to a set iron rod, from which a found
5/8-inch capped iron rod marked"Brookes-Baker"bears South 75°41'East, a
distance of 2.5 feet;
North 00°03'08" West, a distance of 41.68 feet to a set iron rod, from which a
found 5/8-inch capped iron rod marked"Brookes-Baker"bears South 70°21'East,
a distance of 2.2 feet;
Along the arc of a curve to the right,having a central angle of 90°07'30", a radius
of 90.00 feet, an arc length of 141.57 feet, and a chord which bears North
45°00'18" East, a distance of 127.42 feet to the POINT OF BEGINNING and
CONTAINING 2.775 acres of land more or less.
Ordinance Designating Tax Abatement Reinvestment Zone Number Fifty-Nine, (off�r'Y
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Economic &Community Devevlopment
Copyright 2007
Ordinance Designating Tax Abatement Reinvestment Zone Number Fifty-Nine,
City of Fort Worth,Texas
EXHIBIT "C"
Tax Abatement Applicaton
FORT WORTH.
117.
City of Fort Worth
Incentive Application
Economic & Community Development Department
1000 Throclanorton Street
Fart Worth, Texas 76102
(817) 392-6103
Incentive Application
G,FIYERAL IN,FOPMAT1ON
x, Applicant Information:
Company Name
Company Address
City, State,Zip Code Fort Worth, fix. 76137
Contact Person (includtitle/position): Bryan S ain President Devel
e. o meat Division
Telephone Number 817-3,32-3661 ext.
Mobile Telephone Number 817 Fax Number 817-33 -3686
E-mail address: bs pair @buxtonco.Com
2. Project Site Information (if different from above):
Address/Location.
3. Development requests that will besought for the project(check all that apply):
A. Replat. x
B. Rezoning: Current zoning: Requested zoning:
C. 'Variances: If yes,please describe:
D. Downtown Design Review Board:
R. Landmark Commission:
4. Incentives)Requested:l
_pi fey nerr l and er
S. Specify elements of project that snake it eligible for the requested incentive(s):
P
raj e t 10 is ity�l is-t
expansion increased employment levels.
Please see Incentive Policy for a List of incentives. ,
Page 2 of 7
6. Do you intend to pursue abatement of:
County Taxes? M Yes A No
7, What level of abatement will you request: Years? 10 Percentage? 10100%.
PROJECT XNFO,RAfA?'ION
For real estate projects,please include below the project concept,project benefits azrd how the project
relates to existing community plants. A real estate project is one that involves the construction or
renovation of real property that will be either for lease or for sale.Any incentives given by the City should
be considered only"gap"fmancing and should not be considered a substitute foT debt and equity.
However,the City is under no obligation to provide gap financing just because a gap exists. In order
for a property owner/developer to be eligible to receive incentives and/or tax abatement for a Project,the
property owner/developer:
A. Must complete and submit this application and the application fee to the City;
B. Owner/developer or owner/developer's principals must not be.delinquent in paying property
taxes for any property owned in Fort Worth;
C. Owner/developer or owner/developer's principals must not have ever been subject to the City
of Fort Worth's Building Standards Commission's Review;
D. Owner/developer or owner/developer's principals must not have any City of Fort Worth liens
filed against any other property owned by the applicant property owner/developer. "Liens"
includes, but is not limited to, weed liens, demolition liens, board-up/open structure liens and
paving liens.
For business a ansiort aiects?,please include below services provided or products manufactured, major
customers and locations, etc.For business expansion project involving the purchase and/or construction of
real estate,please answer all that apply.
8. Type of Project: Residential x Commercial/Industrial Mixed-use
9, Will this be a relocation? X No Yes if yes,where is the company currently
located?
10,Project Description
r A business exptittsion project involves assistance to a business entity that seeks to expand its existing operations within Fort
Worth. The business is in a growth mode seeking working capital,personal property or fixed asset fnanDing.
Page 3 of 7 ECDC92705
A. Please rovide a brief desert tion of ther 'ect
Expand our current national headquarters f om 20 00 sf. to
45,000 sf. Thereby allowing us the ability to expand our
employment base and increase our customer base. In addition
we will be expanding our capacity and ability to remain on the
cutting edge with the ever changing technological advances in
software data bases and equipment.
B. Real Estate Develo meat
1. Current Assessed Valuation of Land$ 362,500 Improvements: S1 ,810 706
2, New Development or Expansion(please circle one):
Size 25,000 sq_ A. Cost of Construction S_129.00 per___ss
3. For mixed-use projects,please list square footage for each use
4. Site Development(puking,fencing,landscaping, etc.):
Type of work to be done Parkin , buildin ad monism t si n
Cost of Site Development$ Approximately $300,000
C. Personal Proyerty&Invento
1. Personal Property:
• Cost of equipment,machinery,furnishing, etc:_ X500.000
• Purchase or lease? purchase
\ 2. Inventory&Supplies.
• Value of.Inventory Supplies $ 100,000
• Percent of inventory eligible for Freeport exemption (inventory,exported from Texas
within 175 days) n/a _ °1a
Pape 4 of 7 ECDOR701
11.Employment and Job Creatioxt.
A. During Co_ s_Mpfion
1, Anticipated date when construction will start? September/October _
2, How many construction jobs will be created? t 5O
3.What is the estimated payroll for these jobs? $44 to 50 an hour
B. From DeveloumeDt
1, How many persons are currently employed?
100
2, What percent of current employees above are port Worth residents? 30 %
3. What percent of current employees above are Central City residents? 6
4. Please complete the following table for new jobs to be created from direct hire by
applicant,
First year By Fifth Year By Tenth Year
Total Jobs to be Created 120 160 200
Less Transfers* _
Net Jobs 124 160 200
%of Net Jobs to be filled by 25+ 25+ 25+
Fort Worth Residents
%of Net Jobs to be filled by
Central City Residents 15+ 15+ 15+
•If any employees will be transferring,please describe from where they will be transferring.
N/A
Please attach a description of the jobs to be created,tasks to be performed for each,wage rate for each
classification.,and a brief description of the employee benefit package(s) offered including the portion
paid by employee and employer respectively. See question 14 for more information.
Please describe any ancillaxs%(not direct hire by applicant)job creation that will occur as a result of
completing this project.
Numerous temporary and special project type work. i .e. Data
input, Administrative, Research, etc. )
Page 5 of 7 ECDM705
12.Local Commitments:
A. Durima Coustruction
1. What percent of the construction costs described in question l 1 above will be committed to:
• Fort Worth businesses? 50 %
• Fort Worth Certified Minority and Women Business Enterprises? 25 %
R. For Annual Supply& Service Needs
regarding discretionary supply and service expenses(i.e. landscaping,office or manufacturing
supplies,janitorial services,etc.):
1, Wbat is the annual amount of discretionary supply and service expenses?$ 40,000
2. What percentage will be committed to Fort Worth businesses? 50
3. What percentage will be committed to Fort Worth Certified Minority amd Women Business
Enterprises? 15 %
DISCLOSURES
13.Is any person or firm receiving any forma of compensation,commission or other monetary
benefit based on the level of incentive obtained by the applicant from the City of Fort
Worth? If yes,please explain and/or attach details.
No
14.Please provide the following information as attachments:
a) Attach a site plan of the project.
b) Explain why incentives are necessary for the success of this project. Include a business
pro-forma or other documentation to substantiate your request.
c) Describe any environmental impacts associated with this project.
3 Discro6onary exvensos are those which arc inoarred during the normal operation of business and which are not subject to a
national purohanng oontraot. 1
Page 6 of 7
d) Describe the infrastructure improvements (water,sewer,streets,etc.) that will be
constructed as part of this project.
e) Describe any direct benefits to the City of Fort Worth as a result of this project.
f) Attach a legal description or surveyor's certified metes&bounds description.
g) Attach a copy of the most recent property tax statement from the appropriate appraisal
district for all parcels involved in the project.
h) Attach a description of the jobs to be created (technician,engineer, manager, etc.),tasks
to be performed for each, and wage rate for each classification.
i) Attach a brief description of the employee benefit package(s)offered(i.e. health
insurance, retirement,public transportation assistance, day care provisions, etc.)
including portion paid by employee and employer respectively.
j) Attach a plan for the utilization of port Worth Certified NVWBE companies.
k) Attach a listing of the applicant's Board of Directors,if applicable.
1) Attach a copy of Incorporation papers noting all principals,partners, and agents and all
Fort Worth properties owned by each.
On behalf of the applicant,I certify the information contained in this application,including all
attachments to be true and correct. I further certify that, on behalf of the applicant,I have read the current
Incentive Policy and all other pertinent City of Port Worth policies and I agree to comply with the
guidelines and criteria stated therein.
Bryan Spain on
Printed Name Title
April. 26, 2007
1gTia re Date
Page 7of7
ficoovz7as
Tarrant County Tax WebSite Page 1 of 1
Property Tax Record
Acres: 1,664 2006 Values
Account: 00007591284 Yr Built: 0 Land 362500
APD: 25768 5 271 Frozen Yr: NONE Improvement 1810706
Location: 00026515 POLARIS DR Frozen Amt: $0.00 2006 Exemptions
Legal: MERCANTILE CENTER S Ft: 0
ADDITION q
BLK 5 LOT 2 Def.Start: NONE
PER PLAT B-2121 Def. End: NONE
'07591284' Roll: R
Owner: BGR PARTNERS LP
%DAVID B GLOVER VP
2651 S POLARIS DR
FORT WORTH TX 76137-
4479
Click on the e-Statement button to view Total Tax Due.
Click on the e-Payment button to make a credit card or eCheck payment.
Levy Levy Levy penalty Interest Coll Total Receipt
Year Unit amount Paid Due Penalty Due Date
2006 026 18,689.57 18,689.57 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 220 5,900.25 5,900.25 0.00 0.00 0.00 0.00 0.00 1118/2007
2006 223 434.64 434.64 0.00 0.00 0.00 0.00 0.00 111812007
2006 224 5,115.66 5,115.66 0.00 0.00 0.00 0.00 0.00 1118/2007
2006 225 3,029.01 3,029.01 0.00 0.00 0.00 0.00 0.00 1/1812007
2006 905 32,902.34 32,902.34 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 66,071.47 66,071.47 0.00 0.00 0.00 0.00 0.00
Totals
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100 E.Weatherford, Fort Worth,Texas 76196, 817-884-1111
Please send questions and comments regarding this website to WebmdSter @_tarrantcounty.Com.
Tarrant County provides the information contained in this web site as a public service. Every effort is made to insure that informatic
correct. However, in any case where legal reliance on information contained in these pages is required, the official records of Ti
should be consulted. Tarrant County is not responsible for the content of, nor endorses any site which has a link from the Tarran
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Copyright 2001-2004 Tarrant County,TX
http://taxoffice.tarrantcounty.com/accountlnfo.asp?lAccountNumbcr_id=33450754&Print... 5/19/2007
Tarrant County Tax WebSite Page 1 of 2
Property Tax Record
Account: 00007591284 Acres: 1.664 2006 Values
362500
APD: 257685271 Yr Built: 0 Land Frozen Yr: NONE Improvement 1810706
Location: 00026515 POLARIS DR Frozen Amt: $0.00 2006 Exemptions
Legal: MERCANTILE CENTER g
ADDITION y Ft: 0
BLK 5 LOT 2 Def. Start: NONE
PER PLAT B-2121 Def. End: NONE
*07591284* Roll: R
Owner: BGR PARTNERS LP
%DAVID 8 GLOVER VP
2651 S POLARIS DR
FORT WORTH TX 76137-
4479
Click on the e-Statement button to view Total Tax Due.
Click on the e-Payment button to make a credit card or eCheck payment.
Year Unit Levy Levy Levy Penalty Interest Col Total Receipt
Amount Paid Due Penalty Due Date
2006 026 18,689.57 18,689.57 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 220 5,900.25 5,900.25 0.00 . 0.00 0.00 0.00 0.00 1/18/2007
2006 223 434.64 434.64 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 224 5,115.66 5,115.66 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 225 3,029,01 3,029.01 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 905 32,902.34 32,902.34 0.00 0.00 0.00 0.00 0.00 1/1812007
2006 66,071,47 66,071.47 0.00 0.00 0.00 0.00 0.00
Totals
2005 026 18,335.65 18,335.65 0.00 0.00 0.00 0,00 0.00 1!23/2006
2005 220 5,776.26 5,776.26 0.00 0.00 0.00 0.00 0.00 1/2312006
2005 223 423.95 423.95 0.00 0.00 0.00 0.00 0.00 1/23/2006
2005 224 4,989.78 4,989.78 0.00 0.00 0.00 0.00 0.00 1/23/2006
2005 225 2,954.48 2,954.48 0.00 0.00 0.00 0,00 0.00 1/23/2006
2005 905 35,060.30 35,060,30 0.00 0.00 0.00 0.00 0.00 1/23/2006
2003 67,540.42 67,540.42 0,00 0.00 0.00 0.00 0.00
Totals
2004 026 18,335,65 18,335.65 0.00 0.00 0.00 0.00 0.00 1/24/2005
2004 220 5,776.26 5,776.26 0.00 0.00 0.00 0.00 0.00 1/24/2005
2004 223 423.95 423.95 0.00 0.00 0.00 0,00 0.00 1/24/2005
2004 224 4,989.78 4,989.78 0.00 0.00 0.00 0.00 0.00 1/24/2005
2004 225 2,954.48 2,954.48 0.00 0.00 0.00 0.00 0.00 1124/2005
2004 905 35,145.09 35,145.09 0.00 0.00 0.00 0.00 0.00 1/24/2005
2004 67,625.21 67,625.21 0.00 0.00 0.00 0.00 0,00
Totals
2003 026 18,335.65 18,335.65 0.00 0.00 0.00 0.00 0.00 1/23/2004
2003 220 5,776.26 5,776.26 0.00 0.00 0.00 0.00 0.00 1/23/2004
2003 223 423.95 423.95 0.00 0.00 0100 0.00 0.00 1/23/2004
2003 224 4,989.78 4,989.78 0.00 0.00 0.00 0.00 0.00 1/23/2004
2003 225 2,954.48 2,954.48 0.00 0.00 0100 0.00 0.00 1123/2004
2003 905 35,145.09 35,145.09 0.00 0.00 0.00 0.00 0.00 1/2312004
2003 67,625.21 67,625.21 0.00 0.00 0100 0.00 0.00
Totals
2002 026 18,335.65 18,335.65 0.00 0.00 0.00 0.00 0.00 3/31/2004
http.//taxoffice.tarrantcounty.com/accountlnfo.asp?lAccountNumber id-33450754&Displ... 5/19/2007
Tarrant County Tax WebSite Page 2 of 2
2002 220 5,776.26 5,776.26 0.00 0.00 0.00 0.00 0.00 3/31/2004
2002 223 423.95 423.95 0.00 0.00 0.00 0.00 0.00 3/31/2004
2002 224 4,926.25 4,926.25 0.00 0,00 0.00 0.00 0.00 3/3112004
2002 225 2,954.48 2,954.48 0.00 0.00 0.00 0.00 0.00 3/31/2004
2002 905 35,734.37 35,734.37 0.00 0.00 0.00 0.00 0.00 3/31/2004
2002 68,150.96 68,150.96 0.00 0.00 0.00 0.00 0.00
Totals
2001 026 3,135.63 3,135.63 0.00 0.00 0.00 0.00 0.00 12/18/2001
2001 220 996.10 996.10 0.00 UO 0.00 0.00 0.00 12
2001 223 72.50 72.50 0.00 0.00 0.00 0.00 0.00 12//18/2001
18/2001
2001 224 848.50 848.50 0.00 0.00 0.00 0.00 0.00 12/1812001
2001 225 385.74 385.74 0.00 0.00 0.00 0.00 0.00 12/18/2001
2001 905 5,948.99 5,948.99 0.00 0.00 0.00 0.00 0.00 12/1812001
2001 11,387.46 11,387.46 0.00 0.00 0.00 0.00 0.00
Totals
Grand 348 400.73 348,400.73 0.00 0.00 0.00 0.00 0.00
Totals �----
Priv_ac_}LPolicy Accessibility S at-em-n-e-ul Public Informati on-Act
100 E.Weatherford, Fort Worth,Texas 76196, 817- 884-1111
Please send questions and comments regarding this website to Webrnaster taLrantcOUnty,com.
Tarrant County provides the Information contained in this web site as a public service. Every effort is made to insure that informati(
correct. However, in any case where legal reliance on information contained in these pages is required, the official records of Tt
should be consulted. Tarrant County is not responsible for the content of, nor endorses any site which has a link from the Tarran
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Copyright 2001-2004 Tarrant County,TX
http://taxoffice.tarranteounty.com/accountlnfo.asp?lAccountNumber id=33450754&Dispi... 5/19/2007
Tarrant County Tax WebSite Page 1 of 1
Property Tax Record
Account: 00010325522 Acres: 0.000 2006 values
Yr Built: 0 Personal 630269
APD P Frozen Yr: NONE 2006 Exemptions
Location:: 00026515 POLARIS DR Frozen Amt: $0.00
Legal: BUXTON CO
BUSINESS PERSONAL Sq Ft: 0
PROPERTY Def. Start: NONE
Def.End: NONE
Owner: BUXTON CO Rolf: P
ATTN:THOMAS J BUXTON
2651 S POLARIS DR
FORT WORTH TX 76137-
4479
Click on the e-Statement button to view Total Tax Due.
Click on the e-Payment button to make a credit card or eCheck payment.
ff-rr1�!?: -1 . .rt�srs•. .,�,t�►n+ �.f rl�iTi
Year Unit Levy Levy Levy Penalty Interest Col Total Receipt
Amount Paid Due Penalty Due Date
2006 026 5,420.31 5,420.31 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 220 1,711.18 1,711.18 0.00 0.00 0.00 0.00 0.00 1118/2007
2006 223 126.05 126.05 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 224 1,483.63 1,483.63 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 225 878.47 878.47 0.00 0.00 0.00 0.00 0.00 1/1812007
2006 905 9,542.27 9,542.27 0.00 0.00 0.00 0.00 0.00 1118/2007
2006 19,161.91 19,161.91 0.00 0.00 0.00 0.00 0.00
Totals .
Privacy Policy Accessibility Statement Public Information Act
100 E. Weatherford, Fort Worth,Texas 76196, 817- 884-1111
Please send questions and comments regarding this website to Webr175I_fief @kdrrdntCOUrtty.4om.
Tarrant County provides the information contained In this web site as a public service. Every effort is made to insure that informatic
correct. However, in any case where legal reliance on information contained in these pages is required, the official records of Ti
should be consulted. Tarrant County is not responsible for the content of, nor endorses any site which has a link from the Tarran
site.
Copyright 2001-2004 Tarrant County,TX
http://taxoffice.tarrantcounty.com/accountInfo.asp?]AccountNumber_id=669596&PrintFri... 5/19/2007
Tarrant County Tax WebSite Page I of 3
Property Tax Record
,,,-1i..
Account: 00010325522 Acres: 0.000 2006 Values
Yr Built: 0 Personal 630269
APD: P Frozen Yr: NONE 2006 Exemptions
Location: 0002651S POLARIS DR Frozen Amt: $0.00
Legal: BUXTON CO
BUSINESS PERSONAL Sq Ft: 0
PROPERTY Def.Start: NONE
Def. End: NONE
Owner: BUXTON CO Roll: P
ATTN:THOMAS J BUXTON
2651 S POLARIS DR
FORT WORTH TX 76137-
. 4479
Click on the e-Statement button to view Total Tax Due.
Click on the e-Payment button to make a credit card or eCheck payment.
Year Unit Levy Levy Levy Penalty Interest Col Total Receipt
Amount Paid Due Penalty Due Date
2006 026 5,420.31 5,420.31 0.00 0.00 0.00 0.00 0.00 111812007
2006 220 1,711.18 1,711.18 0.00 0.00 0,00 0.00 0.00 1118/2007
2006 223 126.05 126.05 0.00 0.00 0.00 0.00 0.00 1118/2007
2006 224 1,483.63 1,483.63 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 225 878.47 878.47 0.00 0.00 0.00 0.00 0.00 1/18/2007
2006 905 9,542.27 9,542.27 0.00 0.00 0.00 0.00 0.00 1118/2007
2006 19,161.91 19,161.91 0.00 0.00 0.00 0.00 0.00
Totals
2005 026 4,680.24 4,680.24 0.00 0.00 0.00 0.00 0.00 1!2312006
2005 220 1,474.41 1,474.41 0.00 0.00 0.00 0.00 0.00 1/23/2006
2005 223 108,21 108.21 0.00 0.00 0.00 0.00 0.00 1/23/2006
2005 224 1,273.66 1,273.66 0.00 0.00 0.00 0.00 0.00 1/23/2006
2005 225 754.14 754.14 0.00 0.00 0.00 0.00 0.00 1/23/2006
2005 905 8,949.26 8,949,26 0.00 0.00 0.00 0.00 0.00 1/23/2006
2005 17,239.92 17,239.92 0.00 0.00 0.00 0.00 0.00
Totals
2004 026 4,789.66 4,789.66 0.00 0.00 0.00 0100 0.00 1/24/2005
2004 220 1,508.88 1,508.88 0.00 0.00 0.00 0.00 0.00 1/24/2005
2004 223 110.74 110.74 0.00 0.00 0.00 0.00 0.00 1/2412005
2004 224 1,303.44 1,303.44 0.00 0.00 0.00 0.00 0.00 1/24/2005
2004 225 771.77 771.77 0.00 0.00 0.00 0.00 0.00 1/24/2005
2004 905 9,180.64 9,180.64 0.00 0,00 0.00 0.00 0.00 1/24/2005
2004 17,665.13 17,665.13 0.00 0.00 0.00 0.00 0.00
Totals
2003 026 5,380.84 5,380.84 0.00 0,00 0.00 0.00 0.00 1/23/2004
2003 220 1,695.12 1,695.12 0.00 0.00 0.00 0.00 0.00 1/23/2004
2003 223 124.41 124.41 0.00 0.00 0.00 0.00 0.00 1/23/2004
2003 224 1,464.32 1,464.32 0.00 0.00 0.00 0.00 0.00 1/23/2004
2003 225 867.03 867.03 0.00 0.00 0.00 0.00 0.00 1/2312004
2003 905 10,313.79 10,313.79 0.00 0.00 0.00 0.00 0.00 1/23/2004
2003 19,845.51 19,845.51 0.00 0.00 0.00 0.00 0.00
Totals
2002 026 5,988.85 5,988.85 0.00 0.00 0.00 0.00 0.00 1127/2003
2002 220 1,886.66 1,886.66 0.00 0.00 0.00 0.00 0.00 1/27/2003
http://taxoffice.tarrantcounty.com/accountInfo.asp?lAccountNumber id=669596&Display... 5119/2007
Tarrant County Tax WebSite Page 2 of 3
2002 223 138.47 138.47 0.00 0.00 0.00 0.00 0.00 1/27/2003
2002 224 1,609.03 1,609.03 0.00 0.00 0.00 0.00 0.00 1/27/2003
2002 225 965,00 965.00 0.00 0.00 0.00 0.00 0.00 1/27/2003
2002 918 10,731.47 10,731.47 0.00 0.00 0.00 0.00 0.00
2002 21,319.48 21,319.48 0.00 0.00 0.00 0.00 0.00
Totals
2001 026 2,940.68 2,940.68 0.00 0.00 0.00 0.00 0.00 1!28/2002
2001 220 934.17 934.17 0.00 0.00 0.00 0.00 0.00 1128/2002
2001 223 67.99 67.99 0.00 0.00 0.00 0.00 0.00 1128!2002
2001 224 795.75 795.75 0.00 0.00 0.00 0.00 0.00 1/28/2002
2001 225 361.75 361.75 0.00 0,00 0.00 0.00 0.00 1/28/2002
2001 905 5,579.13 5,579.13 0.00 0.00 0.00 0.00 0.00 1/28/2002
2001 10,679,47 10,679.47 0.00 0.00 0.00 0.00 0.00
Totals
2000 026 1,898.43 1,898.43 0.00 0.00 0.00 0.00 0.00 1/17/2001
2000 220 596.18 596.18 0.00 0.00 0.00 0.00 0.00 1/17/2001
2000 223 43.39 43.39 0.00 0.00 0.00 0.00 0.00 1/17/2001
2000 224 507.85 507.85 0.00 0.00 0.00 0.00 0.00 1/17/2001
2000 225 230.87 230.87 0.00 0.00 0.00 0.00 0.00 1/17/2001
2000 905 3,560.60 3,560.60 0.00 0.00 0.00 0.00 0.00 1/17/2001
2000 6,837.32 6,837.32 0.00 0.00 0.00 0.00 0.00
Totals
1999 026 1,408.55 1,408.55 0.00 0.00 0.00 0.00 0.00 12/30!1999
1999 220 421.51 421.51 0.00 0.00 0.00 0.00 0.00 12/30/1999
1999 223 31.55 31.55 0.00 0.00 0.00 0.00 0.00 12/30/1999
1999 224 372,54 372.54 0.00 0.00 0.00 0.00 0.00 12/30/1999
1999 225 169.36 169,36 0.00 0.00 0.00 0.00 0.00 12/30/1999
1999 905 2,411.24 2,411.24 0.00 0.00 0.00 0.00 0.00 12/30/1999
1999 4,814.75 4,814.75 0.00 0.00 0.00 0.00 0.00
Totals
1998 026 1,731.18 1,731,18 0.00 0.00 0.00 0.00 0.00 1/22/1999
1998 220 510.84 510.84 0.00 0.00 0.00 0.00 0.00 1/22/1999
1998 223 38.24 38.24 0.00 0.00 0.00 0.00 0.00 1/22/1999
1998 224 451.50 451.50 0.00 0.00 0.00 0.00 0.00 1/22/1999
1998 225 205.25 205.25 0.00 0.00 0.00 0.00 0.00 1/22/1999
1998 905 2,864.40 2,864.40 0.00 0.00 0.00 0.00 0.00 1/22/1999
1998 5,801.41 5,801.41 0.00 0.00 0.00 0.00 0.00
Totals
1997 026 1,486.94 1,486.94 0.00 0.00 0.00 0.00 0.00 12/29/1997
1997 220 428.04 428.04 0.00 0.00 0.00 0.00 0.00 12/29/1997
1997 223 32.04 32.04 0.00 0.00 0.00 0.00 0.00 12/29/1997
1997 224 378.31 378.31 0.00 0.00 0.00 0.00 0.00 12/29/1997
1997 225 93.24 93.24 0.00 0.00 0.00 0.00 0.00 12/29/1997
1997 905 2,351.63 2,351.63 0.00 0.00 0.00 0.00 0.00 12/29/1997
1997 4.770.20 4,770.20 0.00 0.00 0.00 0.00 0.00
Totals
1996 026 1,129.31 1,129.31 0.00 0.00 0.00 0.00 0.00 12/27/1996
1996 220 314.82 314.82 0.00 0.00 0.00 0.00 0.00 12/27/1996
1996 223 23.78 23.78 0.00 0.00 0.00 0.00 0.00 12/27/1996
1996 224 278.25 278.25 0.00 0.00 0.00 0.00 0.00 12/27/1996
1996 225 68.61 68.61 0.00 0.00 0.00 0.00 0.00 12/27/1996
1996 905 1,729.63 1,729.63 0.00 0.00 0.00 0.00 0.00 12/27/1996
1996 3,544.40 3,544.40 0.00 0.00 0.00 0.00 0.00
Totals
1995 026 626.51 626.51 0.00 0.00 0.00 0.00 0.00 12/31/1995
1995 220 173.36 173.36 0.00 0.00 0.00 0.00 0.00 12/3111995
1995 224 155.95 155.95 0.00 0.00 0.00 0.00 0.00 12/31/1995
1995 225 36.06 36.06 0.00 0.00 0.00 0.00 0.00 12/31/1995
http://taxoffice.tarrantcounty.com/accountlnfo.asp?lAccountNumber_id=669596&Display... 5/t9/2007
Tarrant County Tax WebSite Page 3 of 3
1995 905 946.10 946.10 0.00 0.00 0.00 0.00 0.00 12/31/1995
1995 1,937.98 1,937.98 0.00 0.00 0.00 0.00 0.00
Totals
Grand 133,617.48 133,617.48 0.00 0.00 0.00 0.00 0.00
Totals
Privacy Polic-C Accessibility Statement Public InformationAct
100 E. Weatherford, Fort Worth,Texas 76196, 817- 884-1111
Please send questions and comments regarding this website to Webma$ter @tarry t c—unty.CORI.
Tarrant County provides the information contained in this web site as a public service. Every effort is made to insure that informati(
correct. However, in any case where legal reliance on information contained in these pages is required, the official records of Ti
should be consulted. Tarrant County is not responsible for the content of, nor endorses any site which has a link from the Tarran
site.
Copyright 2001-2004 Tarrant County,TX
http://taxoffice.tarrantcounty.com/accountInfo.asp?lAccountNumber id=669596&Display... 5/19/2007
H. Attach a description of the jobs to be created(technician, engineer,manager, etc.), tasks to be
performed for each, and wage rate for each classification.
Buxton EEO-1 Average Annua
Job %of Total Annual Compens�
Classification Description Employees Compensation Ran e
Occupations engaged wholly or primarily in direct $40,000 to
Sales selling 27% $76,000 $150,000
Officials& Exercise overall management responsibility and/or $55,000 to
Managers direct individual departments 15% $100,000 $150,000
Occupations requiring college/post college
experience or $35,000 to
Professionals comparable background 50% $54,000 $95,000
Occupations requiring basic scientific knowledge/skill
obtained through 2 years of post high school
education $20,000 to
Technicians or job training 8% $33,000 $45,000
1. Attach a brief description of the employee benefit package(s)offered(i.e.health insurance,
retirement,public transportation assistance, day care provisions, etc.)including portion paid by
employee and employer respectively.
Buxton Benefit Program Descriptions Abbreviated
Vacation
Buxton offers paid vacation to full-time employees. Employees are encouraged to take advantage
of their vacation days. Eligible employees will accrue vacation days based upon the following
schedule.
Length of Service Vacation Available Per Year
Year 1 10 days/year(accrual chart)
Year 2 10 days/year
Year 3 -5 15 days/year
7 years— 10 years 20 days/year
11 years or more 25 days/year
Sick and Personal Days
Each full time employee is eligible for a total of five(5)paid sick or personal days per calendar
year. Personal days must be approved in advance by your supervisor. Any employee starting
their employment after September 1 will be granted 2.5 sick/personal days for that calendar year.
There will be no carry over of sick/personal days from year to year,nor will unused sick/personal
days be paid at the time of termination/resignation.
?�. �*v`of QiU � �3,
Holidays
Buxton recognizes certain company holidays for employees by allowing time off with pay.
Buxton recognizes eight days in the year as holidays for which you will receive pay. Actual
holidays will vary each calendar year,but will typically be as follows:
• New Year's Day
• Memorial Day
• Independence Day
• Labor Day
• Thanksgiving(two days)
• Christmas(two days)
• Two (2)Floating Holidays—to be taken any time during the calendar year by full-time
employees only(see details below)
Medical Insurance
As part of your employee benefits program,Buxton makes available group health insurance to all
full time employees and their dependents. The benefit plan offered is a Preferred Provider
Organization(PPO)Plan through United Healthcare(Choice Plus Plan). Your coverage is
effective the first of the month following the date you begin full-time employment.
Your share of the cost will be:
Employee
Contribution per
Paycheck
Employee
Only $18
Employee &
Spouse $80
Employee &
Child(ren) $60
Employee &
Family $114
Dental Insurance:
Buxton offers dental coverage provided by Guardian.Below is a brief summary of the two (2)
dental plans that are available:
There is a maximum benefit payable of$1,000 per person,per calendar year.
Buxton pays 50%of the employee and dependent premiums or this plan. Your share of the cost
will be:
Cost per Paycheck
Employee Only $ 6.20
Employee&Spouse $ 13.00
Employee&Child or Children $ 14.46
Employee& Spouse&Child(ren) $ 21.28
Voluntary Life Insurance.
Buxton also offers Voluntary Life Insurance. You can purchase Life Insurance for yourself and
your dependents and the cost is based on your age. The Guaranteed Issue amount for employees is
$100,000. By answering one medical question,the Guaranteed Issue amount is increased to
$150,000. The Guaranteed Issue amount for a spouse is $10,000. By answering the one medical
question,the Guaranteed Issue amount increases to $50,000. The maximum available for a child
is$10,000. The maximum available is$200,000.
This is a term life insurance policy so there is no accrued cash value to the policy. The rates for
this coverage are extremely attractive and can provide additional coverage for your family.
Life Insurance and Accidental Death and Dismemberment Insurance:
Buxton offers to you at no charge a$35,000 insurance policy for life and accidental death and
dismemberment.
401(k}Savings and Investment Plan:
All employees are eligible for participation in the 401(k) savings plan. Employees are eligible at
the quarterly enrollment periods after their six-(6)month anniversary. Quarterly enrollment
periods are February,May,August and November. Buxton matches up to five-percent(5%)of
your total compensation or the maximum allowed by law, at the matching rate of fifty percent
(50%). You may elect to defer additional compensation in excess of five-percent(5 0/0),up to
fifteen percent(15%)or the maximum allowed by law.
Your vested percentage, as to Buxton matching contribution, is determined according to the
following table:
Completed years of EmploM ent Vested Percentage
Less than 2 years 0%
At least 2 years but less than 3 25%
At least 3 years but less than 4 50%
At least 4 years but less than 5 75%
At least 5 years 100%
Child Care Discount
Buxton has partnered with Camp Fire USA(our neighbors across the street) to offer discounted
child care to all Buxton employees.
Camp Fire USA's First Texas Council,have a well-deserved reputation for excellence in the child
care industry. They are a nationally accredited program with a child-centered curriculum and
superb facilities. Camp Fire extends a 10% discount for child care services to all Buxton
employees. In addition,Buxton will match this amount,for a total discount of 20%.
J. Attach a plan for the utilization of Fort Worth Certified M/WBE companies.
As is our current practice we will continue to use and pursue M/WBE companies
both in our development and continued operation of our business.
K. Attach a listing of the applicant's Board of Directors,if applicable.
Buxton is a privately owned company.
L. Attach a copy of Incorporation Papers noting all principals,partners, and
agents and all Fort Worth properties owned by each.
See attachments A,B and C.
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EXHIBIT "E"
Map of Central City
CDBG Eligible Areas & Central City
7 2
52 — 76092
761 248 77
81 s
760
76020
_ 7613,1 76 4
9-
76148 26
_ 76180
— 1 6054
76021
z
76135 0
76022
37 12 7
20
'1 10
761 761 76 0
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6 76104 67
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gy 0 1 2 4 6 8 Planning Department FORT WORTH
Miles 10/21/04- BK
Page 1 of 3
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 6/19/2007
DATE: Tuesday, June 19, 2007
LOG NAME: 17BUXTONXAGR REFERENCE NO.: C-22206
SUBJECT:
Authorize Execution of Tax Abatement Agreement with BGR Partners, LP, and Related Findings of
Fact
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the City Manager to execute the attached Tax Abatement Agreement with BGR Partners, LP;
and
2. Find that the statements set forth in the recitals of the attached Tax Abatement Agreements are true and
correct.
DISCUSSION:
The real property and business personal property subject to abatement in the attached Tax Abatement
Agreement with BGR Partners, LP. (BGR) is located in the Mercantile Center Addition in north Fort
Worth. The City Council designated this property as Tax Abatement Reinvestment Zone Number 59, City
of Fort Worth, Texas pursuant to M&C G-15740 on May 29, 2007.
Project:
BGR is an affiliate of the Buxton Company (Buxton). Buxton is a leading consultant to the retail trade
industry. Buxton was founded in 1994 in Fort Worth, Texas and is owned by its founding partners. Buxton
moved its headquarters to its present facilities at 2651 South Polaris Drive in 2001 and currently employs
approximately 100 people. Buxton continues to grow at a rapid pace, and due to space constraints at its
current facility, wishes to expand the facility. This agreement is part of a business retention incentive that
also includes the City's participation in the relocation of an existing sanitary sewer main by the Water
Department.
The proposed project is estimated to have a construction cost of at least $2.25 million. Buxton will also be
acquiring new taxable personal property as they fill the facility. BGR is controlled by the founding partners
of Buxton, and own the real estate on behalf of Buxton. BGR will be permitted to assign its rights under
the Tax Abatement Agreement to Buxton as to any property owned by Buxton.
Employment:
To receive the maximum incentives, Buxton will be required to increase employment on site to reach the
minimum employment described in the following schedule:
• 120 by December 31, 2008 (Agreement Year 1)
• 140 by December 31, 2010 (Agreement Year 3)
• 160 by December 31, 2012 (Agreement Year 5)
http://www.cfwnet.org/council_packet/Reports/mc_print.asp 8/22/2007
Page 2 of 3
• 180 by December 31, 2014 (Agreement Year 7)
• 200 by December 31, 2016 (Agreement Year 9)
Of the total jobs, Buxton is required to fill a minimum of 25 percent of the jobs with Fort Worth residents
and a minimum of 15 percent of the jobs with Central City residents.
Utilization of Fort Worth Businesses:
Regarding utilization of Fort Worth based businesses, BGR and Buxton have committed 30 percent of total
hard construction spending to Fort Worth construction companies. Additionally, BGR and Buxton have
committed to spend a minimum of 30 percent of annual supply and service expenditures with Fort Worth
companies and 25 percent of annual supply and service expenditures with Fort Worth M/WBE companies.
Utilization of Fort Worth M/WBE Businesses:
Regarding the utilization of Fort Worth Minority and Women Business Enterprises (M/WBEs), BGR and
Buxton have committed 25 percent of total construction spending to certified Fort Worth M/WBE
construction companies. Additionally, BGR and Buxton have committed to spend a minimum of 25 percent
of annual supply and service expenditures with Fort Worth M/WBE companies.
ABATEMENT TERMS:
Buxton will receive a ten-year tax abatement on real and personal property for a maximum abatement of
50 percent annually. The projected value of the tax abatement if the maximum abatement amount is
reached every year during the agreement term is approximately $133,538. The abatement incorporates
BGR and Buxton's commitments for employment, construction expenditures, and total annual supply and
service spending.
The abatement is structured as follows:
Abatement Component Percentage
Real & Personal Property Improvements 20
Utilization of Fort Worth Enterprises in Construction 5
Utilization of Fort Worth M/WBEs in Contruction 5
Utilization of Fort Worth Enterprises in Annual Supplies & Services 5
Utilization of Fort Worth M/WBEs in Annual Supplies& Services 5
At least 25 percent of FTE's are Fort Worth Residents 5
At least 15 percent of FTE's are Central City Residents 5
Failure to meet the minimum real and personal property commitments by December 31, 2008 shall be an
event of default in which case the City will have the right to terminate the Agreement. Up to 30 percent
abatement can be reached for the term of the agreement in the construction phase with 20 percent
awarded for meeting the minimum investment requirements and deadline; and 5 percent each of the
following components: (1) meeting the Fort Worth construction commitment and (2) meeting the Fort Worth
M/WBE construction commitment.
An additional 10 percent abatement can be awarded annually for meeting both Fort Worth and Fort Worth
M/WBE supply and service commitments, each worth 5 percent. Additionally, up to an additional 10
percent can be awarded for meeting the employment commitments as outlined in the agreement, with
meeting the commitment to hire a minimum number of Fort Worth residents worth 5 percent and the
Central City resident commitment worth 5 percent. Failure to meet the minimum employment commitment
in any year will negate any abatement amount related to the Employment component for that year.
This reinvestment zone is located in COUNCIL DISTRICT 4.
http://www.cfwnet.org/council_packet/Reports/mc_print.asp 8/22/2007
Page 3 of 3
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that the incentives provided under the terms of this agreement are expected
to be less than the additional revenue to be received from incremental taxes paid to the City.
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office b Dale Fisseler (6140)
Originating Department Head: Tom Higgins (6192)
Additional Information Contact: Jay Chapa (5804)
Mark Folden (8634)
http://www.cfwnet.org/council_packet/Reports/mc_print.asp 8/22/2007