HomeMy WebLinkAboutResolution 3099i
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A RESOLUTION OF THE CITY COUNCIL OF FORT WORTH, TEXAS,
CONSENTING TO THE CITY OF IRVING'S GRANT OF A REBATE INCENTIVE
FOR DALLAS COWBOYS MERCHANDISIN°G, LTD TiIJ REL~CAYE ITS NF.W
CENTRAL WAREHOUSE/DISTRIBUTION FACILITY TO DALLAS/FORT WORTH
INTERNATIONAL AIRPORT
WHEREAS, the Dallas/Fort Worth International Airport has requested the Cities of
Fort Worth and Dallas Texas to approve resolutions consenting to the City of Irving
granting a rebate incentive for Dallas Cowboys Merchandising, Ltd to relocate its new
central warehouse distribution facility to Dallas/Fort Worth International Airport and
WHEREAS the City of Fort Worth approved a Resolution No 2475 on December
15 1998 to execute an Interlocal Agreement with the Dallas/Fort Worth International
Airport Board, the City of Fort Worth, Texas and the City of Irving, Texas for sharing of
revenue generated within the boundaries of Dallas/Fort Worth International Airport and
WHEREAS The City of Dallas approved Resolution No 983297 on November 11
1998 to execute an Interlocal Agreement with the Airport Board the City of Fort Worth,
Texas and the City of Irving Texas for sharing of revenue generated within the boundaries
of Dallas/Fort Worth International Airport and
WHEREAS, the Dallas/Fort Worth International Airport Board approved an
Interlocal Agreement with the City of Irving by Resolution No 98 10 327 on October 23
1998 and
WHEREAS the City of Irving by Resolution No 10-22 98 535 dated October 22
1998 approved an agreement with the Cities of Fort Worth and Dallas and
WHEREAS, the Interlocal Agreement dated December 21 1998 between the City
of Irving the City of Fort Worth the City of Dallas and the Airport Board provided the
City Councils of Fort Worth and Dallas must approve any requested tax exemptions or
abatements pertaining to developments on Dallas/Fort Worth International Airport that are
subject to the Interlocal Agreement and
WHEREAS, the City of Irving by Resolution No 5 b 04-145 dated May 6 2004
approved an Economic Incentive Agreement between the City of Irving and Dallas
Cowboys Merchandising, Ltd contingent upon approvals from the City of Fort Worth and
the City of Dallas and
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WHEREAS, pursuant to the Economic Incentive Agreement the City of Irving
agrees to reimburse the Dallas Cowboys Merchandising, Ltd for tax payments made on
Freeport eligible inventory personal property for a five year period beginning January 1
2006 and
WHEREAS the Economic Incentive Agreement may be extended upon the renewal
of the Dallas Cowboys Merchandising Ltd s lease subs ect to approval by the Irving City
Council and
WHEREAS, the inability of the City of Irving to provide the rebate incentive
would prevent any economic benefits to the parties identified in the Interlocal Agreement
and
WHEREAS by granting this exemption, Dallas Cowboys Merchandising, Ltd s
facility will not only relocate to a Dallas/Fort Worth International Airport location, but
will also provide direct revenues to the airport and the cities and stimulate additional
development opportunities that will generate additional land rent and tax revenues as
anticipated m the Interlocal Agreement and
WHEREAS the City of Fort Worth s approval of the City of Irving Economic
Incentive Agreement shall be limited to the five year period beginning with the 2006 tax
year and any extension of the Economic Incentive Agreement is contingent upon approval
by the City Councils of Fort Worth and Dallas
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
SECTION 1 That the City of Fort Worth hereby consents to the City of Irving s
grant of a rebate incentive for Dallas Cowboys Merchandising Ltd in an amount equal to
the tax Dallas Cowboys Merchandising, Ltd would otherwise pay on the value of its
personal property Freeport eligible inventory to be located at the Dallas/Fort Worth
International Airport The City of Fort Worth s consent to the City of Irving s grant of
rebate incentives for Dallas Cowboys Merchandising Ltd is solely for the purposes of
compliance with Article III of the Interlocal Agreement and is limited to a five year
period, beginning with the 2006 tax year Any extension of the City of Irving s grant of
rebate incentives for Dallas Cowboys Merchandising Ltd beyond the five year period
shall be contingent upon the subsequent approvals of the City Councils of Fort Worth and
Dallas
SECTION 2 That the approvals contained in this resolution are conditional upon
similar approval by the City Council of Dallas
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SECTION 3 That this resolution shall take effect from and after its passage by the
City Council of the City of Fort Worth in accordance with the provisions of the Charter of
the City of Fort(W,orth and i is ccordingly so resolved
Adopted thi~ 7_ day of __ ____________ 200
APPROVED AS TO FORM AND LEGALITY
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City Attorney
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