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HomeMy WebLinkAboutOrdinance 22066-01-2016 ORDINANCE NO. 22066-01-2016 AN ORDINANCE RENEWING AND RE-DESIGNATING A CERTAIN AREA IN THE CITY OF FORT WORTH AS "NEIGHBORHOOD EMPOWERMENT REINVESTMENT ZONE NO. 5R, CITY OF FORT WORTH, TEXAS"; PROVIDING THE EFFECTIVE AND EXPIRATION DATES FOR THE ZONE AND A MECHANISM FOR RENEWAL OF THE ZONE; AND CONTAINING OTHER MATTERS RELATED TO THE ZONE. WHEREAS, pursuant to the City Council's adoption on May 19, 2015, by Resolution No. 4455-05-2015 (M&C G-18479), as it may be amended from time to time, the City of Fort Worth, Texas (the "City") has elected to be eligible to participate in tax abatement and has established guidelines and criteria governing tax abatement agreements entered into between the City and various third parties, as authorized by and in accordance with the Property Redevelopment and Tax Abatement Act, codified in Chapter 312 of the Texas Tax Code (the "Code"); and WHEREAS, the City Council desires to promote the development of the area in the City more specifically described in Exhibit"A" of this Ordinance (the "Zone")through the creation of reinvestment zone for purposes of granting residential and commercial-industrial tax abatement, as authorized by and in accordance with Chapter 312 of the Code; and WHEREAS, on December 7, 2010, the City Council designated the Magnolia Village Area as a Neighborhood Empowerment Zone by Resolution Number 3947 (M&C G-17137) to promote (1) the creation or rehabilitation of affordable housing in the zone, or (2) an increase in economic development in the zone, or (3) an increase in the quality of social services, education or public safety provided to the residents of the zone; and WHEREAS, on December 7, 2010, the City Council designated the Magnolia Village Area as Neighborhood Empowerment Reinvestment Zone NO. 5R by Ordinance Number 19463 (M&C G-17137); and WHEREAS, in accordance with Chapter 312.203 of the Code, the designation of a reinvestment zone for residential or commercial-industrial tax abatement expires five years after the date of the designation; and Magnolia Village NEZ Ordinance No.22066-01-2016 Page 1 of 6 WHEREAS, Chapter 312.203 of the Code allows for a reinvestment zone to be renewed for a period not to exceed five years; and WHEREAS, the Zone expired on December 6, 2015 and the City Council wishes to renew the Zone for a period of five years; and WHEREAS, on January 26, 2016, the City Council held a public hearing regarding the renewal of the Zone ("Public Hearing"); and WHEREAS, notice of the Public Hearing was published in a newspaper of general circulation in the City on January 15, 2016; and WHEREAS, notice of the Public Hearing was delivered in writing not later than the seventh day before the date of the public hearing to the presiding officer of the governing body of each taxing unit that includes in its boundaries real property that is to be included in the proposed Zone; and WHEREAS, the Neighborhood Empowerment Zone NO. 5R will promote the creation of affordable housing in the zone and an increase in economic development in the Zone. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 1. FINDINGS. That after reviewing all information before it regarding the establishment of the Zone and after conducting the Public Hearing and affording a reasonable opportunity for all interested persons to speak and present evidence for or against the creation of the Zone, the City Council hereby makes the following findings of fact: I.I. The statements and facts set forth in the recitals of this Ordinance are true and correct. Therefore, the City has met the notice and procedural requirements established by the Code for renewal of a reinvestment zone under Chapter 312 of the Code; and 1.2. 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; Magnolia Village NEZ Ordinance No.22066-01-2016 Page 2 of 6 1.3. The Zone meets the criteria for the designation of a reinvestment zone as set forth in Section 312.202 of the Code, as amended, 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 municipality. 1.4. Future improvements in the Zone will benefit the land included in the Zone as well as the City for a period in excess of ten (10) years, which is the statutory maximum term of any tax abatement agreement entered into under the Chapter 312 of the Code. SECTION 2. RENEWAL AND RE-DESIGNATION OF ZONE. That the City Council hereby renews and re-designates the Zone described in the boundary description attached hereto as Exhibit "A" and made a part of this Ordinance for all purposes as a reinvestment zone for purposes of granting residential and commercial-industrial tax abatement, as authorized by and in accordance with Chapter 312 of the Code. The Zone shall continue to be known as "Neighborhood Empowerment Reinvestment Zone NO. 5R, City of Fort Worth, Texas". The area within the Zone is eligible for residential and commercial- industrial tax abatement pursuant to Resolution No. 4455, by M&C G-18479. SECTION 3. TERM OF ZONE. That the Zone shall be renewed upon January 26, 2016, and expire five (5) years thereafter. The Zone may be renewed by the City Council for one or more subsequent terms of five (5) years or less. Magnolia Village NEZ Ordinance No.22066-01-2016 Page 3 of 6 SECTION 4. SEVERABILITY. That if any portion, section or part of a section of this Ordinance is subsequently declared invalid, inoperative or void for any reason by a court of competent jurisdiction, the remaining portions, sections or parts of sections of this Ordinance shall be and remain in full force and effect and shall not in any way be impaired or affected by such decision, opinion or judgment. SECTION 5. EFFECTIVE DATE. That this Ordinance shall take effect upon its adoption. AND IT IS SO ORDAINED. ADOPTED AND EFFECTIVE: January 26, 2016 APPROVED AS TO FORM AND LEGALITY: Melinda Ramos ary J. s Sr. Assistant City Attorney City Secretary M&C: G-18647 Magnolia Village NEZ Ordinance No.22066-01-2016 Page 4 of 6 EXHIBIT A MAGNOLIA VILLAGE NEIGHBORHOOD EMPOWERMENT REINVESTMENT ZONE NO. 5R The area to be designated as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 5R for tax abatement purposes contains 1. 5 square miles of land and is within the area described by bounds below: Beginning at the intersection of Henderson Street and the back of the north walk of the eastbound service road of Interstate 30 West; Thence east along the back of the north walk of the eastbound service road of Interstate 30 West, to its intersection with the Union Pacific Rail Road; Thence south with said railroad to its intersection with Page Street; Thence west with said Street, to its intersection with Lipscomb Street; Thence north with said Street, to its intersection with Richmond Avenue; Thence west with said Avenue, to its intersection with Henderson Street; Thence north with said Street,to its intersection with Richmond Avenue; Thence west with said Avenue, to its intersection with 5th Avenue; Thence north with said Avenue, to its intersection with Park Place; Thence west with Park Place,to its intersection with 6th Avenue; Thence north with said Avenue, to its intersection with Allen Avenue; Thence west with said Avenue, to its intersection with 8th Avenue; Thence north with said Avenue, to its intersection with Mistletoe Boulevard; Thence west with said Boulevard, to its intersection with Beckham Place; Thence northeast with Beckham Park Place, to its intersection with 12th Avenue; Thence north with said Avenue, to its intersection with Rosedale Street; Thence east with said Street, to its intersection with Henderson Street; Thence north with said Street, to its intersection with Dashwood Street; Thence east with said Street, to its intersection with College Avenue; Thence north with said Avenue, to its intersection with Cannon Street; Magnolia Village NEZ Ordinance No.22066-01-2016 Page 5 of 6 Thence west with said Street, to its intersection with Henderson Street; Thence north with said Street, to the Place of Beginning, and containing some 1.5 square miles of land, more or less. Magnolia Village NEZ Ordinance No.22066-01-2016 Page 6 of 6 Magnolia Village Neighborhood Empowerment Zone -EiL-AS 6f ' Y- L-V-a w RI DEAA� IGKER- r ty o_--Q AR1FISi ST U) w DAGGE-3-T-AVE tp� FL 3 z v 5 -fly DAGGE-�T-A Q—W— d q_ BROADAA\FE 5 O > -- Q W€NNECA-AV + Cn m E--T€R MI F'zW lT a O C D>�- W- LL ��l1GKl f� ST W T� _g{ _"-Q - w = I EhNS1�L-fih RJJ z CAN O TPRUIT T- -- PI_r� C NN-N- T O fl E CO¢P6R Q I � TE R-L-L-WE � � z N D -w- L I w -S SFT F" z P o OL€IpNDE-R T Q zF Z p Q J Y uw MISTLE•TOEBLV D a a w � MAGNOL-I - d Lu µi - T M,RP-�Y M RP —� z rn z R�L I z- -E-131 VI N- N IMADE T q S ,IOS� oK �4L LIE N%iS a RK-P-LAC V i� --RK- L-A- Q R MB OKE D I � Q m (j) WA E ON V RI.`C'HMOND-�ST T F PAT ON-CT Q U 0 �I AL-T-MO - d w -WI ND SOR-PL } LING ON-IV J z TQQ O u� AWTHORNE A I Ot HUNTIN TflN-tN- I I z _� --41LA w -WIL-SHIRE-BLVD PC LL- E ¢ -GARL-OGKIN�� tE EO TE JESSAIMI S MIN jr Pb W F-� I MSEY-A E q BE L-IZ BE-T�-BL D fP.- .GB'-SST PAG- S-T M� RION-A — RK-HI L-DR UL T MUL-KEY-S I Legend Prepared On:December 16,2010 N COPYRIGHT 2010 CITY OF FORT WORTH UNAUTHORIZED REPRODUCTION IS AVIOLATION OF APPLICABLE LAWS. THIS DATA IS TO BE USED FOR AGRAPHICAL REPRESENTATION ONLY.THE ACCURACY IS NOT TO BETAKEN/ Empowerment Zone USED AS DATA PRODUCED FOR ENGINEERING PURPOSES OR BY A REGISTERED PROFESSIONAL LAND "Neighborhood p SURVEYOR.THE CITY OF FORT WORTH ASSUMES NO RESPON SIB ILITY FOR THE ACCURACY OF SAID DATA Q Urban Village I I I Miles FO&TWoRTH. Park 0 0.125 0.25 0.5 City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved',on 1/26/2016 - Ordinance No. 22066-01-2016 DATE: Tuesday, January 26, 2016 REFERENCE NO.: G-18647 LOG NAME: 19NEZMAGNOLIAVILLAGE SUBJECT: Conduct a Public Hearing and Adopt Ordinance to Redesignate the Magnolia Village Area as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 5R (COUNCIL DISTRICT 9) RECOMMENDATION: It is recommended that the City Council: 1. Conduct a public hearing to redesignate the Magnolia Village area as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 5R; and 2. Adopt the attached ordinance which redesignates the Magnolia Village area as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 5R, pursuant to the Texas Property Redevelopment and Tax Abatement Act, Tax Code, Chapter 312. DISCUSSION: On December 7, 2010 (Mayor and Council Communication (M&C) G-17137), the City Council adopted Resolution No. 3947 to designate the Magnolia Village area as a Neighborhood Empowerment Zone (NEZ) and adopted Ordinance No. 17137 which designated the area as Fort Worth Neighborhood Empowerment Reinvestment Zone (FWNERZ) No. 5R. The designation for the Neighborhood Empowerment Zone is in place for a period of 10 years; however, according to the Texas Property Redevelopment and Tax Abatement Act, Tax Code, Chapter 312, the designation of a Reinvestment Zone for residential or commercial-industrial tax abatement expires five years after the date of the designation and may be renewed for periods not to exceed five years. The Magnolia Village area NEZ is only mid-way through its ten-year life and, therefore, this M&C would merely extend the tax abatement authority for the remainder of the NEZ's ten-year term. The current ordinance designating FWNERZ No. 5R expired on December 6, 2015 and must be renewed in order for the City of Fort Worth to be eligible to participate in the NEZ tax abatement authorized by Chapter 312. The Texas Property Redevelopment and Tax Abatement Act (Act) requires a public hearing. Notice of the public hearing was (1) delivered to the governing body of each affected taxing unit and (2) published in the newspaper at least seven days prior to the public meeting. The Act requires the property receiving an abatement to be located in a Reinvestment or Enterprise Zone. Staff recommends the renewal of the Magnolia Village Reinvestment Zone designation. FWNERZ No. 5R and the Magnolia Village NEZ are located in COUNCIL DISTRICT 9. Logname: 19NEZMAGNOLIAVILLAGE Page 1 of 2 This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION /CERTIFICATION: The Financial Management Services Director certifies that approval of the above recommendation will have no material effect on the Fiscal Year 2016 Budget. While no current year impact is anticipated from this action, upon approval, reduced revenues will be included in the long-term forecast associated with years 2017-2021 to capture the anticipated impact of tax abatements resulting from the designation of the Magnolia Village Neighborhood Empowerment Reinvestment Zone. FUND IDENTIFIERS (FIDs): TO Fund Department ccoun Project Program ctivity Budget Reference # moun ID ID Year Chartfield 2 FROM Fundl Department ccoun Project Program ctivity Budget Reference # �mol ID ID Year Chartfield 2 CERTIFICATIONS: Submitted for City Manager's Office by_ Fernando Costa (6122) Originating Department Head: Aubrey Thagard (8187) Additional Information Contact: Sarah Odle (8187) Logname: 19NEZMAGNOLIAVILLAGE Page 2 of 2