HomeMy WebLinkAboutCP 237 CIT F FO WO , TEXAS
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COUNCIL PROPOSAL
Date:2110104 File Number: Subject:Consideration of Stop Six NEZ Expansion
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Proposed By: Frank Moss City Manager's Review: Page:
City Attorney's Review: PAGE 1 OF 2
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PROPOSAL
It is proposed that the City Council:'
1. Direct the City Staff to schedule an item for the City of Fort Worth City Council Agenda on February 24,
2004 to consider expanding the Stop Six Neighborhood Empowerment Zone(NEZ).
2. Authorize the City Manager to amend resolution No. 2721 to include the expansion area and prepare an
ordinance to designate the expansion area as a Reinvestment Zone.
DISCUSSION:
On April 17, 2001, City Council approved the creation of the Stop Six Neighborhood Empowerment Zone(NEZ).
On September 11, 2001, City Council approved Fort Worth Neighborhood Empowerment Reinvestment Zone
(FWNERZ) No. 1. It is proposed that the Stop Six NEZ be expanded to include the areas shown on Attachment
A. The boundaries of the proposed expanded Stop Six NEZ are Union Pacific Railroad on the North, Oakland,
Hughes, and Edgewood on the West, East Loop 820 on the East, and Eastland and Wilbarger on the South (see
Attachment A).
The Stop Six NEZ currently has a population of 3,615 and an area of 2.2 square miles. The proposed expansion
area has a population of 2,308 persons and an area of 1.9 square miles. The total proposed Stop Six NEZ
population is 5,923 and total proposed Stop Six NEZ area is 4.1 square miles. The expansion area meets the
following designation requirements under the City's NEZ policy:
• Promotes economic development; and
• Has a total population less than 6,000; and
• The proposed Stop Six NEZ area is 100% within the Central City and 100% within the CDBG eligible
areas; and
• Is considered distressed based on the 2000 Census socia-demographic data. For example, according to
the 2000 Census, 7 percent of all households receive public assistance income compared to a citywide
percentage of 3.1 percent. Also,the expansion area has a median household income of$27,291 compared
to a citywide median of$37,074 and an-11.2%unemployment rate compared to the citywide rate of 3.8%;
and
• Meets criteria for Reinvestment Zone designation 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 area and that would contribute to the economic
development of the City.
J LEGALITY
O FISCAL NOTE
O CITY MANAGER'S COMMENTS
O CITY POLICIES MANUAL
CIT FO WO , TEXAS
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COUNCIL PROPOSAL
Date:2110104 File Number: Subject: Consideration of Stop Six NEZ Expansion
Proposed By: Frank Moss City Manager's Review: Page:
City Attorney's Review: PAGE 2 OF 2
Development Opportunities
Residential Development: According to the 2000 Census, the proposed expansion area is predominately a
neighborhood with 67% of the housing units being owner-occupied. The median owner-occupied value for
homes is $41,238. Approximately 7.5% of the housing units are vacant. The expansion area will increase the
amount of vacant and underdeveloped land available for future residential development in the Stop Six NEZ.
There are opportunities to develop vacant land along Hughes,Coleman,Berry,Eastland,Garden,Carey,and other
streets in the expansion area.
Commercial Development: There are commercial development opportunities along the East Loop 820,.East
Berry Street,Village Creek Road,Wilbarger Street,Miller Avenue, and Rosedale Street corridors. There are also
opportunities to develop vacant land along Hughes, Coleman,Berry,Eastland,Garden,Carey,and other streets in
the expansion area.
The proposed expanded Stop Six NEZ is located in Council District 5.
LEGALITY:
The Department of Law finds that this proposal is legal and that it is within the authority of the City Council.
FISCAL NOTE:
The Finance Director certifies that the approval will not require the appropriation of additional funds at this time.
CITY MANAGER'S COMMENT:
This action is consistent with Council policy and precedent.
4member!Cponsor Counci member Sp sor
❑ LEGALITY
❑ FISCAL NOTE
❑ CITY MANAGER'S COMMENTS
❑ CITY POLICIES MANUAL