HomeMy WebLinkAboutContract 54520-A1 CSC No.54520-A1
FIRST AMENDMENT TO TAX INCREMENT FINANCING
FUNDING AGREEMENT
Sidewalk Repairs
This First Amendment to Tax Increment Financing Funding Agreement ("First
Amendment") is entered into by and between the Board of Directors of Tax Increment
Reinvestment Zone Number Thirteen, City of Fort Worth, Texas ("Board"), an administrative
body appointed in accordance with Chapter 311 of the Texas Tax Code("TIF Act")to oversee the
administration of Tax Increment Reinvestment Zone Number Thirteen,City of Fort Worth, Texas,
a reinvestment zone designated by ordinance of the City of Fort Worth("City")in accordance with
the TIF Act, and the City of Fort Worth("City"), a Texas home-rule municipality.
The Board and City hereby agree that the following statements are true and correct and
constitute the basis upon which the Board and City have entered into this Agreement:
A. On November 27, 2007, the City Council adopted Ordinance No. 17889-11-2007,
establishing Tax Increment Reinvestment Zone Number Thirteen, City of Fort Worth, Texas (the
"TIF District"), and establishing the tax increment fund of the TIF District.
B. On May 29, 2008, the Board adopted a project and financing plan for the TIF
District(the "TIF Project Plan"). The TIF Project Plan was approved by the City Council on June
27, 2008,pursuant to Ordinance No. 18146-06-2008,and amended on October 20, 2015,pursuant
to Ordinance No. 21949-10-2015.
C. The Board and City entered into a Tax Increment Finance Funding Agreement
("Agreement") to construct sidewalks at Woodhaven Boulevard and Bridge Street, as well as at
Bridge Street and Boca Raton Boulevard("Project").
D. City wishes to extend the time for completion of the Project to July 31, 2021.
NOW, THEREFORE, the Board and City, for and in consideration of the terms and
conditions set forth herein, do hereby contract, covenant and agree as follows:
1. Section 1.2 of the Agreement is hereby deleted and replaced in its entirety with the
following:
"City must complete the Project on or before July 31, 2021"
2. All terms of this First Amendment that are capitalized but not defined have the
meanings assigned to them in the Agreement.
3. All terms and conditions of the Agreement that are not expressly amended pursuant
to this First Amendment will remain in full force and effect.
(signature page follows)
OFFICIAL RECORD
CITY SECRETARY
First Amendment to Tax Increment Financing Funding Agreement
FT. WORTH, TX
IN WITNESS WHEREOF, the undersigned have caused this First Amendment to be
executed in Tarrant County, Fort Worth, Texas effective as of the date signed by the Chair of the
Board below.
Board of Directors of Tax Increment City of Fort Worth:
Reinvestment Zone Number Thirteen, City
of Fort Worth, Texas:
By: 0 By:
Print: Cary Moon Print: Jay Chapa
Title: Chair Title: Deputy City Manager
Date: June30 12021 Date: 12021
TIF ROUTING PROCESS:
Approved as to Form and Legality: Contract Compliance Manager. By signing,
I acknowledge that I am the person responsible
for the monitoring and administration of this
contract, including ensuring all performance
and reporting requirements.
By: w. By: 7ea46, - (?ear
Print: John B. Strong Print: Martha Collins
Title: Senior Assistant City Attorney Title: Revitalization Coordinator
Resolution No. 13-2021-02
OFFICIAL RECORD
CITY SECRETARY
First Amendment to Tax Increment Financing Funding Agreement
FT. WORTH, TX
CITY OF FORT WORTH INTERNAL ROUTING PROCESS:
Approval Recommended: Contract Compliance Manager:
By signing I acknowledge that I am the person
responsible for the monitoring and administration
of this contract,including ensuring all
By: WJ(Jul 6,2021 0:14 CDT) performance and reporting requirements.
Name: William Johnson
Title: Director
By:
Approved as to Form and Legality: Name: Chad Allen
� Title: Senior Project Manager,TPW
e.Lx o I f0Rr
By: Mack(Ju12,202111:58CDT) City Secretary: O00F�Rr*-
o d
Name: Doug Black a�° °��od
0
Title: Assistant City Attorney 0 tj o o=0
° *��
By: C ��� °°°T 5 a
°000000°° ,GY
Contract Authorization: Name: Ronald Gonzales a�nnEXA oo p
M&C 20-0593 (August 25,2020) Title: City Secretary
OFFICIAL RECORD
CITY SECRETARY
First Amendment to Tax Increment Financing Funding Agreement
FT. WORTH, TX
M&C Review Page 1 of 2
Official site of the City of Fort Worth,Texas
CITY COUNCIL AGENDA FORT H
REFERENCE **M&C 20- 20TIF 13 SIDEWALK
DATE: 8/25/2020 NO.: 0593 LOG NAME: IMPROVEMENTS AT BRIDGE
STAND BRIDGEWOOD DR
CODE: G TYPE: CONSENT PUBLIC NO
HEARING:
SUBJECT: (CD 4)Authorize the Execution of Tax Increment Financing Development Agreement with
the Board of Directors of Tax Increment Reinvestment Zone Number Thirteen, City of
Fort Worth,Texas (Woodhaven TIF), in an Amount Up to$864,531.00 for Sidewalk
Improvements within the Boundaries of the Woodhaven TIF;Authorize the Acceptance of
Funds in an Amount Up to$864,531.00 from the Woodhaven TIF;Adopt Appropriation
Ordinance and Update the Fiscal Years 2020-2024 Capital Improvement Plan
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the Execution of a Tax Increment Financing Development Agreement with the Board of
Directors of Tax Increment Reinvestment Zone Number Thirteen, City of Fort Worth, Texas
(Woodhaven TIF), in an Amount Up to$864,531.00 for Sidewalk Improvements within the boundaries
of the Woodhave TIF on Bridge Street at Woodhaven Boulevard and Bridgewood Drive from Bridge
Street to Boca Raton Boulevard;
2. Authorize the acceptance of funding in the amount up to$864,531.00 from the Tax Increment
Reinvestment Zone No. 13-Woodhaven fund for the project; and
3. Adopt the attached appropriation ordinance increasing the receipts and appropriations in the Tax
Increment Reinvestment Zone-General Capital Fund in an amount up to$864,531.00 transferred
from the Tax Increment Reinvestment Zone No. 13-Woodhaven fund,for sidewalk improvements on
Bridge Street at Woodhaven Boulevard and Bridgewood Drive from Bridge Street to Boca Raton
Boulevard project(City Project No. 102849)
DISCUSSION:
On October 16, 2019, the Board of Directors for Tax Increment Reinvestment Zone(TIRZ) No. 13-
Woodhaven (Woodhaven TIF)authorized the execution of a Tax Increment Financing (TIF)
Development Agreement with the City of Fort Worth for sidewalk repairs and improvements at
Woodhaven Boulevard and Bridge Street as well as repairs at Bridge Street and Boca Raton
Boulevard (See attached Resolution).Approval of this Mayor and Council Communication allows the
City to enter into that agreement to receive funding and complete the project.
Funding for this project was not included in the FY2020-2024 Capital Improvement Plan due to project
inception after the adoption of the Capital Improvement Plan.The action in this M&C will update the
FY2020-2024 Capital Improvement Plan.
This program is located in COUNCIL DISTRICT 4.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that funds are currently available in the TIRZ#13—Woodhaven fund
and upon approval of the above recommendations and adoption of the attached appropriation
ordinance,funds will be available in the TIRZ-General Capital fund for the TIF 13 Sidewalks
project to support the approval of the above recommendations and execution of the agreement. Prior
to an expenditure being incurred,the Transportation&Public Works Department has the
responsibility of verifying the availability of funds.
TO
Fund Department Account Project Program Activity Budget Reference# Amount
ID ID I Year I (Chartfield 2)
FROM
Fund Department Account Project Program Activity Budget Reference# Amount
ID ID Year (Chartfield 2)
http://apps.cfwnet.org/council_packet/mc review.asp?ID=28162&councildate=8/25/2020 8/26/2020
M&C Review Page 2 of 2
Submitted for City Manager's Office by: Dana Burghdoff(8018)
Originating Department Head: William Johnson (7801)
Additional Information Contact: Lissette Acevedo(2722)
ATTACHMENTS
102849 M and C Map.pdf
20191016 Resolutions 3.pdf
20TIF 13 SIDEWALK IMPROVEMENTS AT BRIDGE ST AND BRIDGEWOOD DR 30286 A020.docx
http://apps.cfwnet.org/council_packet/mc review.asp?ID=28162&councildate=8/25/2020 8/26/2020