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HomeMy WebLinkAboutOrdinance 10904ORDINANCE NO ~ ~~ AN ORDINANCE AMENDING THE CODE OF THE CITY OF FORT WORTH, TEXAS (1986), AS AMENDED, BY DESIGNATING A CERTAIN AREA NORTH OF THE WESTERN CURRENCY PLANT ON BLUE MOUND ROAD AS THE FORT WORTH TAX ABATEMENT REINVESTMENT ZONE NO 7; 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 in 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 in 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 20th day of August, 1991, 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 ail 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 -1- 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 7, entitled Tax Abatement Reinvest- ment Zone No 7, which shall read as follows DIVISION 7 TAX ABATEMENT REINVESTMENT ZONE NO. 7 Section 32-39.1 Findings and Determinations The facts and recitations contained in 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 7 has been properly called, held and conducted and that notices of such hearings 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 in 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 in the zone that would be a benefit to the property and that would contribute to the economic development of the City -2- Section 32-39 2 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 in Exhibit "A" attached hereto and such reinvestment zone is hereby designated and shall hereafter be designated as Tax Abatement Reinvestment Zone Na. 7, 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 3 Effective Date. This division shall take effect on August 20, 1991. SECTION 2 This ordinance shall be cumulative 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 in direct conflict with the provisions of such ordinances and such Code, in which event conflicting provisions of such ordinances and such Code are hereby repealed. SECTION 3 It is hereby declared to be the intention 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 section of this ordinance shall be declared unconstitutional by the valid judgement or decree of any court of competent jurisdiction, such unconstitutionality 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 incorporation in 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. -3- ~ 4 SECTION 5 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' d~ ~~ CITY ATTORNEY DATE • ~ 1 ~ ~ I ADOPTED : ~`~~C/ '~'~~ EFFECTIVE. -4- _, EXH I B I T "A;' ;~ PROPOSED WILLIAMSON-DICKIE SITE DESCRIPTION pF PRdPERTY 33.7172 Acres Josiah Walker Survey, A-1600 Fort Worth, Tarrant County, Texas BEING 33.7172 acres of land out of the JOSIAH WALKER SURVEY, ABSTRACT Np. 1600 and being a portion of an 83.0005 acre tract of land described in Volume 9943, Page 950 and Volume 9701, Page 567, Deed records of Tarrant County, Texas more particularly described as follows: BEGINNING at an iron rod being the northwest corner of said 83.0005 acre tract and being in the north line of said Josiah Walker Survey and also being in the existing east right-of-way line of Blue Mound Load {F.M. 156); THENCE, South 89 degrees 05 minutes East, along the north line of said Josiah Walker Survey and the north line of said 83.0005 acre tract, 1545.70 feet to a highway monument for corner being in the existing southerly right-of-way line of U.S. Highway 287; TiiE23CE, South 37 degrees 15 minutes 35 seconds East, along the existing southerly right-af-way line of said II.S. Highway 287, 1007.84 feet to an iron rod for corner; THENCE, North 89 degrees 05 minutes West, 2161.91 feet to an iron rod being in the existing east right-of-way line of said Blue Mound Road; THENCE, North 00 degrees 25 minutes 51 seconds East, along the existing east right-of-way line of said Blue Mound Raad, 792.30 feet to the P02NT OF BEGINNING. The tract of land herein described contains 1,468,721 square feet or 33.7172 acres of land, more ar less. a City of Fort Worth, Texas 4~~- Mayor and Council ~,ommunication -DATE REFERENCE NUMBER LOG NAME PAGE f 1 1 08/20/91 G-9268 02REVZN7 o SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH TAX ABATEMENT REINVESTMENT ZONE N0. 7 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 7, and 2. Adopt the attached ordinance which designates the Fort Worth Tax Abatement Reinvestment Zone No. 7 pursuant to Texas Property Redevelopment and Tax Abatement Act, Tax Code, Sections 312.001 through 312.209, as amended. DISCUSSION: 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 tax abatement. DAI:t Submitte or City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY office by to APPROVED BY CITY COUNCIL Originating Department Head Opt2d OC~111811C2 N O I ~ . from AUG- 1991 For Ad itional Information ~ ~// Contact to Ciry of Fort Worth, Taxes Printed on recycled paper