HomeMy WebLinkAboutOrdinance 22377-08-2016 ORDINANCE NO.22377-08-2016
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE DEVELOPER CONTRIBUTION FUND IN THE
AMOUNT OF $27,975,000.00, FOR THE PURPOSE OF CONSTRUCTION OF
TRANSPORTATION IMPROVEMENTS TO NORTH RIVERSIDE DRIVE, THE
INTERSECTION OF NORTH RIVERSIDE DRIVE AND NORTH TARRANT
PARKWAY,HARMON ROAD,THE INTERSECTION OF HARMON ROAD AND
HERITAGE TRACE PARKWAY, SIDEWALK ALONG HERITAGE TRACE
PARKWAY,AND THE INTERSECTION OF TEHAMA RIDGE PARKWAY AND
HERITAGE TRACE PARKWAY; PROVIDING FOR A SEVERABILITY
CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR
ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH;
AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2015-2016 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
Developer Contribution Fund in the amount of$21,975,000.00, from available funds,for the purpose of the
construction of transportation improvements to North Riverside Drive,the Intersection of North Riverside
Drive and North Tarrant Parkway, Harmon Road, the Intersection of Harmon Road and Heritage Trace
Parkway, Sidewalk along Heritage Trace Parkway, and the Intersection of Tehama Ridge Parkway and
Heritage Trace Parkway.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or
void for any reason by a court of competent jurisdiction, such decision,opinion or judgment shall in no way
impair the remaining portions, sections, or parts of sections of this ordinance, which said remaining
provisions shall be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 21873-09-2015 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions
of said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
aleshia Parmer,Assistant City Attorney Mary J.K er Ci Secretary
ADOPTED AND EFFECTIVE:August 30,2016
Ordinance No.22377-08-2016
Page 1 of I
Harmon Road Design and Intersection at Heritage Trace Parkway Design
This project provides for the design of Harmon Road from the US 81/USS287 Frontage Road to
Heritage Trace Parkway as a four-lane divided arterial roadway. This project sets the stage for a
future construction project.
Harmon Road Right of Way Acquisition and Portion of Construction
This project provides for right of way acquisition and construction of Harmon Road from the US
81/USS287 Frontage Road to Heritage Trace Parkway as a four-lane divided arterial roadway,
using all remaining TIF funds.
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\ Golden Triangle Parkway
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Harmon Road ' 3j
81/ US287 Frontage Road
Copyright 2016 City of Fort Worth.Unauthorized reproduction is a violation of applicable laws.This product is for informational
purposes and may not have been prepared for or be suitable for legal,engineering,or surveying purposes.It does not represent an
on-the-ground survey and represents only the approximate relative location of property boundaries. The City of Fort Worth
assumes no responsibility for the accuracy of said data.
PROJECT LOCATION MAP
NORTH RIVERSIDE DRIVE AND NORTH TARRANT PARKWAY
North Riverside Drive Phase 4 and Intersection Improvements at North Tarrant Parkway
This project involves the reconstruction of this section of North Riverside Drive from the
existing two-lane county-type roadway to a four lane divided arterial roadway. In addition, this
project provides for a proposed roundabout at or other intersection improvements including
signalization, at the intersection of North Tarrant Parkway and North Riverside Drive.
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.--.�--� Shiver Road
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North Tarrant Parkway Ea
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Copyright 2016 City of Fort Worth.Unauthorized reproduction is a violation of applicable laws.This product is for informational
purposes and may not have been prepared for or be suitable for legal,engineering,or surveying purposes.It does not represent an
on-the-ground survey and represents only the approximate relative location of property boundaries. The City of Fort Worth
assumes no responsibility for the accuracy of said data.
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 8130/2016 -Ordinance No. 22377-08-2016
DATE: Tuesday, August 30, 2016 REFERENCE NO.: C-27896
LOG NAME: 20TIF 7 DEVELOPMENT AGREEMENT
SUBJECT:
Authorize Execution of Tax Increment Financing Development Agreements with the Board of Directors of
Tax Increment Reinvestment Zone No. 7 TIF 7 or North Tarrant Parkway TIF for the Construction of
Transportation Improvements to North Riverside Drive, the Intersection of North Riverside Drive and North
Tarrant Parkway, Harmon Road, the Intersection of Harmon Road and Heritage Trace Parkway, Sidewalk
Along Heritage Trace Parkway, and the Intersection of Tehama Ridge Parkway and Heritage Trace
Parkway, Authorize Advance Funding by the City of Fort Worth, Texas, of These Specified Transportation
Improvement Projects Within TIF 7 North Tarrant Parkway, with TIF Funding Collected Through the
Remaining Life of TIF District 7 as the Receivable, Estimated at $21,975,000.00 and Adopt Appropriation
Ordinance (COUNCIL DISTRICTS 2, 4, and 7)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize execution of Tax Increment Financing Development Agreements with the Board of Directors
of Tax Increment Reinvestment Zone No. 7 TIF 7 or North Tarrant Parkway TIF for the construction of
transportation improvements to North Riverside Drive, the Intersection of North Riverside Drive and North
Tarrant Parkway, Harmon Road, the intersection of Harmon Road and Heritage Trace Parkway, sidewalk
along Heritage Trace Parkway, and the Intersection of Tehama Ridge Parkway and Heritage Trace
Parkway; and
2. Authorize advance funding by the City of Fort Worth, of these specified transportation improvement
projects within TIF 7 North Tarrant Parkway, with TIF funding collected through the remaining life of TIF 7
as the receivable, estimated at $21,975,000.00, and
3. Adopt the attached appropriation ordinance upon receipt of the executed Agreement increasing
estimated receipts and appropriations in the Developer Contribution Fund in the amount of
$21,975,000.00.
DISCUSSION:
On April 12, 2016, City Council received a briefing on Staff's recommendation to include the TIF 7 priority
projects in the City's Five Year CIP, utilizing TIF funds as receivables available to advance construction
projects on an accelerated schedule. The City will enter into development agreements with the TIF Board
to construct all of the identified projects with TIF revenues committed as a major component of project
funding.
Continued development is increasing congestion along North Riverside Drive, North Tarrant Parkway,
Harmon Road, and Heritage Trace Parkway. To alleviate this problem, the TIF 7 Board of Directors
approved funding for improvements to these roads on February 10, 2016 and April 20, 2016, through
execution of Development Agreements with the City of Fort Worth for the following:
Logname: 20TIF 7 DEVELOPMENT AGREEMENT Page I of 3
1. North Riverside Drive Phase 4 and Intersection Improvements at North Tarrant Parkway (CPN100453)
This project involves the reconstruction of North Riverside Drive between North Tarrant Parkway and
Shiver Road from the existing two-lane county-type roadway to a four lane divided arterial roadway. In
addition, this project provides for a proposed roundabout, or other intersection improvements including
signalization, at the intersection of North Tarrant Parkway and North Riverside Drive. The recommended
Tax Increment Financing Development Agreement provides funding for the full estimated project cost in
the amount of$6,400,000.00 for design, right-of-way and construction. This project is anticipated to begin
construction in summer of 2018.
2. Intersection of Tehama Ridge Parkway and Heritage Trace Parkway (CPN CO2529)
This project provides for construction of a multi-lane roundabout intersection improvement to improve
intersection capacity. The recommended Tax Increment Financing Development Agreement provides
funding in the amount of$2,500,000.00 for construction. Intersection improvements are currently under
construction.
3. Harmon Road Design and Design of Intersection at Harmon Road and Heritage Trace Parkway (CPN
100459)
This project provides for the design of Harmon Road from the US 81/US 287 Frontage Road to Golden
Triangle Boulevard as a four-lane divided arterial roadway. The recommended Tax Increment Financing
Development Agreement provides funding in the amount of$4,500,000.00 for surveying, engineering
design, utility coordination, right-of-way evaluation, and project management for the arterial roadway and
intersection improvements. Roadway improvements design is scheduled to start in early 2017.
4. Sidewalk along Heritage Trace Parkway from Interstate 35 to Hillwood Parkway (CPN100460)
The project provides for the installation of sidewalk along the south side of Heritage Trace Parkway from
Interstate 35 to Safe Meadow Trail. The project will improve pedestrian access and mobility for the
existing commercial area. The recommended Tax Increment Financing Development Agreement provides
funding in the amount of$175,000.00 for design and construction. This project is anticipated to begin
construction in spring of 2017.
5. Harmon Road Right-of-Way Acquisition and Portion of Construction (CPN100459)
This item provides for right-of-way acquisition and partial funding for construction of Harmon Road from
the US 81/US 287 Frontage Road to Golden Triangle Boulevard as a four-lane divided arterial roadway,
using all remaining TIF 7 funds. The recommended Tax Increment Financing Development Agreement
provides funding in the estimated amount of$8,400,000.00 towards the total estimated project cost of
$17,500,000.00.
Staff recommends entering into Development Agreements with the TIF 7 Board to allow the City to move
forward with design and construction of road infrastructure improvements. In addition, the recommended
actions establish the final use of all funds remaining in the TIF 7 Fund by designating the Harmon Road
right-of-way acquisition and construction as the final project, to receive all available remaining funding.
The Transportation and Public Works staff will be responsible for seeking reimbursement from the TIF
Board of Directors as each project is completed.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations, funds will be
Logname: 20TIF 7 DEVELOPMENT AGREEMENT Page 2 of 3
available in the current capital budget, as appropriated, of the Developer Contributions Fund.
FUND IDENTIFIERS (FIDs):
TO
Fund Department Accouni Project Program Activity Budget Reference # Amount
ID ID Year Chartfield 2
2 30104 0200431 464001 100459 8,400,000.00
30104 0200431 464001 100453 6,400,000.00
30104 0200431 464001 CO2529 $2,500,000.00
2 30104 0200431 464001 100459 4,500,000.00
30104 0200431 464001 100460 $175,000.00
FROM
Fund Department Accouni Project Program Activity Budget Reference # Amount
ID ID Year Chartfield 2
30104 0200431 100453 6,400,000.00
30104 0200431 CO2529 $2,500,000.00
30104 0200431 100459 4,500,000.00
Q30104 0200431 100460 $175,000.00
30104 0200431 100459 $8,400,000.00
CERTIFICATIONS:
Submitted for City Manager's Office by: Jay Chapa (5804)
Originating Department Head: Douglas Wiersig (7801)
Additional Information Contact: Bryan Beck (7909)
Logname: 20TIF 7 DEVELOPMENT AGREEMENT Page 3 of 3