HomeMy WebLinkAboutOrdinance 11225ORDINANCE NO. -~ `-=
AN ORDINANCE AMENDING THE CODE OF THE CITY OF FORT WORTH,
TEXAS (1986), AS AMENDED, BY DESIGNATING BLOCK D-1-R, DAGGETT'S
ADDITION, AS THE FORT WORTH TAX ABATEMENT REINVESTMENT ZONE
NO 12, PROVIDED THAT THIS ORDINANCE SHALL BE CUMULATIVE,
PROVIDING A SEVERABILITY CLAUSE, PROVIDING FOR ENGROSSMENT
AND ENROLLMENT, AND PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, the City Council of the City of Fort Worth, Texas
("City"), desires to promote the development or redevelopment of a certain
contiguous geographic area within its jurisdiction by the creation of a
reinvestment zone for commercial/industrial tax abatement, as authorized by
the Property Redevelopment and Tax Abatement Act, V T C.A., Tax Code,
Chapter 312, as amended, and
WHEREAS, the City Council has elected by City Resolution No
1401 to become eligible to participate iri tax abatement, and
WHEREAS, the Property Redevelopment and Tax Abatement Act
further provides that property within a reinvestment zone may be eligible for,
inter alia, commercial/industrial tax abatement, subject to the governing body
of the municipality establishing by resolution the requirements for such
eligibility and entering into a written tax abatement agreement with the owner
of taxable real property that is located iri the reinvestment zone, and
WHEREAS, a public hearing in a regularly scheduled meeting
before the City Council was held at 10 00 a.m. on the 8th day of December,
1992, such date being at least seven (7) days after the date of publication of
the notice of such public hearing as required by the Tax Code, and
WHEREAS, notice of the public hearing was delivered to the
presiding officer of the governing body of each affected taxing unit at least
seven (7) days before the date of the public hearing, and
WHEREAS, the City, at such hearing, invited all interested
persons or their representatives to appear and speak for or against the
creation of the proposed reinvestment zone, the boundaries of the proposed
reinvestment zone, whether all or part of the territory described in this
ordinance should be included in such proposed reinvestment zone, and the
concept of tax abatement,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL
OF THE CITY OF FORT WORTH, TEXAS:
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SECTION 1.
That the Code of the City of Fort Worth, Texas, (1986) as amended,
is hereby amended by adding to Chapter 32, Taxation, Article III, a new
Division 12, entitled Tax Abatement Reinvestment Zone No 12, which shall
read as follows
DIVISION 12. TAX ABATEMENT REINVESTMENT ZONE NO. 12
Section 32-39 13 Findings and Determinations
The facts and recitations contained iri the preamble of this ordinance are
hereby found and declared to be true and correct. The City, after conducting
such hearings and having heard such evidence and testimony, has made the
following findings and determinations based on the testimony and evidence
presented to it.
(a) That a public hearing on the designation of Tax Abatement
Reinvestment Zone No 12 has been properly called, held
and conducted and that notices of such hearing have been
published as required by law and delivered to all taxing
units overlapping the territory inside the proposed
reinvestment zone, and
(b) That the boundaries of the reinvestment zone shall be the
boundaries as described in Exhibit "A" which is attached
hereto and made a part hereof, and
(c) That the creation of the reinvestment zone for
commercial/industrial tax abatement, with boundaries as
described in Exhibit "A", and the improvements sought are
feasible and practical and, will be a benefit to the land
included in the zone and to the City after the expiration of
any Tax Abatement Agreement entered into under V T C.A.,
Tax Code, Section 312 204, and
(d) That the reinvestment zone as described iri Exhibit "A" meets
the criteria for the creation of a reinvestment zone as set
forth in V T C.A. Tax Code, Section 312 202, as amended, in
that it is reasonably likely as a result of the designation to
contribute to the retention or expansion of primary
employment or to attract major investment iri the zone that
would be a benefit to the property and that would contribute
to the economic development of the City '
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Section 32-39 11 Designation of Zone.
Pursuant to the Property Redevelopment and Tax Abatement Act,
V T C.A., Tax Code, Sections 312 001 through 312 209, the City hereby creates a
reinvestment zone for commercial/industrial tax abatement encompassing the
area described iri Exhibit "A" attached hereto and such reinvestment zone is
hereby designated and shall hereafter be designated as Tax Abatement
Reinvestment Zone No 11, City of Fort Worth, Texas The designation of this
zone expires 5 years after the effective date of this division and may be renewed
for periods not to exceed 5 years
Section 32-39 12 Effecrive Date.
This division shall take effect on December 8, 1992
SECTION 2.
This ordinance shall be cumularive of all provisions of ordinances
and of the Code of the City of Fort Worth, Texas { 1986), as amended, except
where the provisions of this ordinance are iri direct conflict with the provisions of
such ordinances and such Code, iri which event conflicting provisions of such
ordinances and such Code are hereby repealed.
SECTION 3.
It is hereby declared to be the intenrion of the City Council that the
sections, paragraphs, sentences, clauses and phrases of this ordinance are
severable, and if any phrase, clause, sentence, paragraph or secrion of this
ordinance shall be declared unconstitutional by the valid judgement or decree of
any court of competent jurisdicrion, such unconsriturionality shall not affect any
of the remaining phrases, clauses, sentences, paragraphs and sections of this
ordinance, since the same would have been enacted by the City Council without
the incorporarion iri this ordinance of any such unconstitutional phrase, clause,
sentence, paragraph or section.
SECTION 4.
The City Secretary of the City of Fort Worth is hereby directed to
engross and enroll this ordinance by copying the caption and effective date in the
minutes of the City Council and by filing the ordinance in the ordinance records
of the City
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SECTION 5 e
This ordinance shall take effect and be in full force and effect from
and after its passage, and it is so ordained.
APPROVED AS TO FORM AND LEGALITY
iN ~ S
~~I-'CITY ORN d~-«..~~ ,
ADOPTED /~ '' ~ "~ ~s"
EFFECTIVE ~~ `~9' ~~~
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EXHIBIT "A"
TRACT I
BEING a tract of land situated in Ft 'Aorth, TARRANT County, Texas, and
being all of BLOCK D-1-R, a RESUBDIVISION OF BLOCK D-1, DA ETT'S ADDITION,
an Addition to the City of Fort Worth, Texas, according to the Plat
recorded in Volume 388-81, Page 28 of the TARRANT Coun y Deed Records, and
being more particularly described as follows:
BEGINNING at the intersection of the South line of 15th Street (60' R O.w )
with the Weet line of Calhoun Street (60' R.O.W.);
THENCE, South 30 degrees OO.minutes'00 seconds Eaet, a distance of 460.00'
with the Weet line of Calhoun Street (60' R O.W.) to a point for corner
said point being the intersection of the west line of Calhoun Stzeet (6b'
R.O.W.) with the North line of East Lancaster Avenue (17th Street)
(vari le R.O.W.);
THENCE, South 60 degrees 00 minutes 00 aeconde Weat a distance of 100.00'
aloeq said North line of Eaet Lancaster Avenue {17t~i.Street) (variable
R.O.A.) to the beginning of a curve to the right, said curve having a
central angle of 10 degrees 51 minutes O1 seconds and a radius of 445 26';
THENCE, along the arc of said Sauthweeterly curve, a distance of 84.32' to
the beginning of a curve to the right, said curve having a central angle of
79 degrees 00 minutes 39 aeconde and a radius of 20.00';
THENCE, along the arc of said Northwesterly curve, a distance of 27.58' to
a point for corner said po~nt being the intersection of the Eaet line of
Commerce Street 8b' R.O. WW with t e North line of East Lancaster Avenue
(17th Street) (variable R.O.W );
THENCE, North 30 degrees 00 minutes 00 seconds West, a distance of 432 41'
with the East line of Commerce Street (80' R.O.w.) to a point for corner
said point being the intersection of the Eaet line of Commerce Street (8b'
R.O.W.) with the South line of 15th Street (60' R..O.W.);
THENCE, North 60 degrees 00 minutes 00 seconds East, a distance of 200 00'
along said South line of 15th Street (60' R O W ) back to the PLACE OF
BEGINNING.
City of Fort Worth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
12/08/92 G-9961 02TAX12 1 of 1
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH TAX ABATEMENT
REINVESTMENT ZONE N0. 12
RECOMMENDATION:
It is recommended that the City Council take the following action:
1. Hold a public hearing concerning designation of the Fort Worth Tax Abatement
Reinvestment Zone No. 12, and
2. Adopt the attached ordinance which designates the Fort Worth Tax Abatement
Reinvestment Zone No. 12 pursuant to Texas Property Redevelopment and Tax
Abatement Act, Tax Code, Sections 312.001 through 312.209, as amended.
DISCUSSION:
The site of the proposed zone is the Ramada Hotel-Downtown at 1701 Commerce Street.
Consideration of this issue as a part of today's agenda serves as a public hearing on
the designation of a reinvestment zone as required by the Property Redevelopment and
Tax Abatement Act. Notice of this public hearing was published in the newspaper and
delivered to the presiding officer of the governing body of each affected taxing unit
at least 7 days prior to this meeting as required by state law..
The proposed area meets the criteria for the designation of a reinvestment zone, as
required by the Tax Code, in that the area is reasonably likely, as a result of the
designation, to contribute to the retention or expansion of primary employment or to
attract major investment in the zone that would be a benefit to the property and that
would contribute to the economic development of the city. In addition, the
improvements sought in the zone are feasible and practical and would be a benefit to
the land to be included in the zone and to the city after any tax abatement agreements
which may be entered in accordance with state law have expired.
The designation of a reinvestment zone expires after 5 years and may be renewed for
periods not to exceed 5 years.
The Code requires a city to designate a zone prior to entering into a tax abatement
agreement.
Submit ed for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by to
A
PPROVED
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Originating Department Head
pEC ~ 1992
from
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opts Ordin nce No
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For Additional Information City S.zcrr~~s~ of tha
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Contact trortlt, Taxiul
Citg QI Fert l
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