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Home My WebLink AboutOrdinance 10798 ORDINANCE NO. D AN ORDINANCE AMENDING THE CODE OF THE CITY OF FORT WORTH, TEXAS (1986), AS AMENDED, BY DESIGNATING A CERTAIN AREA NORTH OF ROSEDALE STREET AND WEST OF ST. LOUIS AS THE FORT WORTH TAX ABATEMENT REINVESTMENT ZONE NO. 4; PROVIDED THAT THIS ORDINANCE SHALL BE CUMULA- TIVE; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR ENGROSSMENT AND ENROLLMENT; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Council of the City o,f 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 26th day of February, 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 ar 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, -1- fi NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 1. That the Code of the City of Fort Worth, Texas, (2986) as amended, is hereby amended by adding to Chapter 32, Taxation, Article III, a new Division 4, entitled Tax Abatement Reinvest- ment Zone No. 4, which shall read as follows: DIVISION 4. TAX ABATEMENT REINVESTMENT ZONE NO. 4 Section 32-30. 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 4 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 -2- ,~ 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 Section 32-31. Designation of Zone. Pursuant to the Property Redevelopment and Tax Abatement Act, V T C A Tax Code, Sections 312 001 through 312 249, 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 No 4, 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 32-32. Effective Date. This division shall take effect on February 26, 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 regealed 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 directed to engross and enroll this ordinance b caption and effective date in the minutes of th by filing the ordinance in the ordinance record Worth is hereby y copying the e City Council and s of the City. -3- ~~ 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: CITY ATTORNEY DATE : a a ~ ADOPTED : d~ ~d5 (O~r `/ EFFECTIVE : LT ~y`~^ L -4- 4 ~. " ~'~ ~. EXHIBIT "A" BEING 2.85 acres of land located in Lot A-1, Block 2, FIELDS-WELCH ADDITION to the City of Fort Worth, Tarrant County, Texas, according to the plat recorded in Volume 388-155, Page 88 of the Plat Records of Tarrant County., Texas. Said 2.85 acres of land being more particularly described by metes and bounds, as follows: BEGINNING at an "X" out in concrete at the Southeast corner of said Lot A-1, being the intersection of the North right-of-way line of Rosedale Street (an 80 foot wide right-of-way) with the West right- of-way line of St. Louis Avenue (a 60 foot wide right-of-way); THENCE S 88 degrees 59' S4" W 207.01 feet along the North right- of-way Line of said Rosedale Street to a 1/2" iron rod; THENCE N 00 degrees 13' 39" E 599.71 feet along a line 207.01 feet West of and parallel to the West right-of-way line of aforesaid St. Louis Avenue to a 1/2" iron rod; THENCE N 89 degrees 59' S4" E 207.01 feet to a Z/2" iron rod in the West right-of-way line of said St. Louis Avenue; THENCE S 00 degrees 13' 39" W 599.71 feet along the West right- of-way line of said St. Louis avenue to THE PLACE OF BEGINNING, containing 2.85 acres (124.145 square feet) of land. MASTER FILE• 1 ACCOUNTING 2 pity ®f' 1F®~-t ~®rth, `1Ce.~ca~ 7RANSF'ORTATtON/PUBLf y ~~~®~ ~~~ // -®~~~~~ ~®~~~ n ~/n ,~1~/ ~/n ®~ NAfER AOMINISiRATitifd y i`I~/. (~ (j~l(,~1(~ (L EcoNOMlc I e~ti{,rhI~NT z PUBLIC HEARING AND ORDINANCE PAGE DATE REFERENCE SUBJECT NUMBER DESIGNATING THE FORT WORTH TAX 1 ~ 1 of 2-26-91 G-9055 nRnT~MFNT I?FTNVFCTMFNT 7(1NF N(1_ 4 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. 4; and 2. Adopt the attached ordinance which designates the Fort Worth Tax Abatement Reinvestment Zone No. 4 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. Attachment - Ordinance APPRQ~ ~~~I~ C6TY_ CO DAI:z 02ABATE ~E.B 26 1991 i t~ ~„ ,vrv~r.~.. SUBMITTED FOR Int DISPOSITION BY COUNCIL. f ,IICESSED~BY CITY MANAGER'S OFFICE BY Mike Groomer 6125 ^ APPROVED of the C OTHER (DESCRIBE) Cif a 1~ aLY Texa>r ORIGINATING t, City of FQ t Forth. DEPARTMENT HEAD• ThOmaS HTQaTnS 6192 CITY SECRETARY I FOR ADDITIONAL INFO MATTq~v ~d~ ~~U ViLfillt~.1~C~ i'l0~/0/ O CONTACT inn Uiveley 6130 N DATE