HomeMy WebLinkAboutOrdinance 22745-06-2017 ORDINANCE NO. 22745-06-2017
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER 91A, 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 June 28, 2016 of
Resolution No. 4647-06-2016 (the "Tax Abatement Policy"), 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, as more specifically depicted as "91A" in the map attached hereto as Exhibit
"A" (the "Zone"), through the creation of a reinvestment zone for purposes of granting a
tax abatement, as authorized by and in accordance with Chapter 312 of the Code; and
WHEREAS, the Zone is adjacent to that real property designated under
Ordinance No. 21698-11-2015 as Tax Abatement Reinvestment Zone No. 91, City of
Fort Worth, Texas (the "Initial Zone"); and
WHEREAS, the City previously granted American Airlines, Inc. ("Company") a
tax abatement on property and improvements located in the Initial Zone in return for
Company's construction of a new corporate headquarters to be located in the Initial Zone,
Ordinance No.22745-06-2017
Ordinance Designating Tax Abatement Reinvestment Zone Number 91 A, Page 1 of 10
City of Fort Worth,Texas
with a minimum expenditure of at least $200 million in real property improvements (the
"Project"), as governed by that certain Tax Abatement Agreement on file in the City
Secretary's Office as City Secretary Contract No. 47341; and
WHEREAS, Company now wishes to construct the Project with multiple
buildings, which would require a portion of the Project to be constructed not only on land
within the Existing Zone, but also on land within the Zone proposed; and
WHEREAS, on June 6, 2017 the City Council held a public hearing regarding
the creation of the Zone, received information concerning the Improvements proposed for
the Zone and afforded a reasonable opportunity for all interested persons to speak and
present evidence for or against the creation of the Zone ("Public Hearing"), as required
by Section 312.201(d) of the Code; and
WHEREAS, notice of the Public Hearing was published in a newspaper of
general circulation in the City on May 26, 2017, which satisfies the requirement of
Section 312.201(d)(1) of the Code that publication of the notice occur not later than the
seventh day before the date of the public hearing; and
WHEREAS, in accordance with Sections 312.201(d)(2) and (e), of the Code
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;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS:
Ordinance No.22745-06-2017
Ordinance Designating Tax Abatement Reinvestment Zone Number 91 A, Page 2 of 10
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:
1.1. 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 creation of a reinvestment zone under Chapter 312 of
the Code.
1.2. The Improvements proposed for the Zone, as more specifically outlined in the
Public Hearing, are feasible and practical and, once completed 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.
1.3. As a result of designation as a reinvestment zone, the area within the Zone is
reasonably likely to contribute to the expansion of primary employment and to
attract major investment in the Zone that will be a benefit to property in the Zone
and will contribute to the economic development of the City.
Ordinance No.22745-06-2017
Ordinance Designating Tax Abatement Reinvestment Zone Number 91A, Page 3 of 10
City of Fort Worth,Texas
Section 2.
DESIGNATION OF ZONE.
That the City Council hereby designates the property depicted as "91A" in the
map attached hereto as Exhibit "A" as a reinvestment zone for purposes of granting a
commercial-industrial tax abatement, as authorized by and in accordance with Chapter
312 of the Code. This Zone shall be known as "Tax Abatement Reinvestment Zone
Number 91A, City of Fort Worth, Texas." The specific metes and bounds of the property
comprising the Zone consists of the property described in Exhibit"B", which is all of the
property on which the Project will be constructed, less the property described in Exhibit
"C", which is all of the Property comprising the Existing Zone. The Project is eligible for
commercial/industrial tax abatement pursuant to Section 4.1 of the Tax Abatement
Policy.
Section 3.
TERM OF ZONE.
That the Zone shall take effect upon the effective date of this Ordinance 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.
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,
Ordinance No.22745-06-2017
Ordinance Designating Tax Abatement Reinvestment Zone Number 91 A, Page 4 of 10
City of Fort Worth,Texas
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.
IMMEDIATE EFFECT.
That this Ordinance shall take effect upon its adoption.
APPROVED AS TO FORM AND LEGALITY:
Peter Vaky, Mary J. KayW,
Deputy City Attorney City Secretary
M&C:G-19018
ADOPTED AND EFFECTIVE: June 6, 2017
Ordinance No.22745-06-2017
Ordinance Designating Tax Abatement Reinvestment Zone Number 91A, Page 5 of 10
City of Fort Worth,Texas
EXHIBIT"A"
MAP DEPICTING ZONE
FORTWORTH Tax Abatement Reinvestment Zone No. 91A - American Airlines
13951 Trinity Boulevard, Fort Worth, Texas 76155
"Exhibit A"
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Copyright 2017 City of Fort Worth. Unauthorized reproduction is a violation of applicable laws. This product is for informational purposes and may not have
prepared for or be suitable for legal,engineering,or surveying purposes.It does not represent an on-the-ground survey and represents only the appron im.iw re'
location of property boundaries. The City of Fort Worth assumes no responsibility for the accuracy of said data Of
EXHIBIT "B"
METES AND BOUNDS OF ENTIRE PROPERTY
ON WHICH THE PROJECT WILL BE CONSTRUCTED
(COVERS BOTH TAX ABATEMENT REINVESTMENT ZONES NO. 91 AND 91A)
This metes and bounds description includes both the property comprising the Zone (Tax
Abatement Reinvestment Zone No. 91A) as well as the property comprising the Existing Zone
(Tax Abatement Reinvestment Zone No. 91). The Zone itself comprises the property set forth in
this metes and bounds description less the property described in Exhibit "C", which property
consists of the Existing Zone.
METES AND BOUNDS DESCRIPTION
SABRE TRACT
BEING A 124.04 ACRE TRACT OF LAND SITUATED IN THE WILLIAM G. MATTHEWS SURVEY, ABSTRACT NUMBER 1052 AND THE V.J. HUTTON SURVEY,
ABSAJRLRLINES ADDITTIOONN BEIaG581 TANRANT ADDI�ONNTO THExCIITYNOF FORRTT WORCITY OFTH AACCORT A WORTH
TO THE PLAT REWIDT I BE DIN VOLUMEL13B8�.1330PAGE AMERICAN
RECORDS OF TARdANT COUNTY TEXAS ALSO BEING A PORTION OF THE TRACT OF LAND DESCRIBED AS THE NORTH TRACT IN 1HE DEED t6 DFW
REGIONAL AIRPORT BOARD RECIMDED IN VOLUME 8853, PAGE 858. DEED RECORDS OF TARRANT COUNTY, TEXAS AND BEING A PORTION OF THE TRACT
OF EAIDESCRIBED IN
TRA® TO LAND REGIONAL
EING MOAIRPORT
E PRTIC BOARD
RECORDED
DESCRIBED VOLUME
6710.PAGE 520, DEED RECORDS OF TARRANT COUNTY,
BEGINNING AT THE POINT OF INTERSECTION OF THE NORTHERLY RIGHT-OF-WAY LINE OF TRINITY BOULEVARD(A VARIABLE WIDTH RIGHT-OF-WAY)NTH
LOT WE1. STST�Y RIGHT-OF-WAY LINE OF STATE HIGHWAY 36D(A VARIABLE WIDTH RIGHT-OF-WAIL)ALSO BONG THE SOUTHEASTERLY CORNER OF SAID
THENCE WITH THE NORTHERLY RICHT-OF-WAY LINE OF TRINITY BOULEVARD THE FOLLOWING:
SOUTH 86' 48'38"WEST A DISTANCE OF 119.82 FEET TO A PONT;
NORTH 81' 25'15"WEST A DISTANCE OF 372.43 FEET TO A PONT;
SOUTH 88.10'20"WEST A DISTANCE OF 1D2.31 FEET TO A POINT.
NORTH 0.3' 35'59"WEST A DISTANCE OF 243.40 FEET TO THE BEGINNING OF A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF
1,372.00 FEET;
NORTHWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 04' 21'19"AN ARC DISTANCE OF 104.27 FEET WITH A CHORD BEARING OF
NORTH 70'06'DO"WEST AND A CHORD DISTANCE OF 104.27 FEET TO THE PONT OF TANGENCY OF SAID CURVE
NORTH OT 57 20"WEST A DISTANCE OF 148.40 FEET TO THE POINT OF CURVATURE OF A CURVE TO THE LEFT HAVING A RADIUS OF 1,425.00
FEET;
SOUTHWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 54' 27'23"AN NRC DISTANCE OF 1.357.20 FEET TO THE POINT OF
TANGENCY OF SAID CURVE;
0, SOUTH 57'35'18"WEST A DISTANCE OF 81.02 FEET TO A POINT;
y SOUTH 09' 17' 00"WEST A DISTANCE OF 153.69 FEET N A PONT IN THE EASTERLY RIGHT-OF-WAY LINE OF AMERICAN BOULEVARD(A VARIABLE
o WIDTH RIGHTD LOT OFBWA 13N A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 700.00 FEET, ALSO BEING THE SOUTHWESTERLY CORNER
THENCE DEPARTING THE NORTHERLY RIGHT-OF-WAY LINE OF TRINITY BOULEVARD WITH THE EASTERLY RIGHT-OF-WAY LINE OF AMERICAN BOULEVARD
E THE FOLLOWING;
r
uS NORTHWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF Zr 24'1D"AN NRC DISTANCE OF 273.20 FEET TO THE POINT OF TANGENCY
Z. OF SAID CURVE;
CNORTH 01' 41'36"EAST A DISTANCE OF 28.19 FEET TO A POINT;
NORTH DOM-'30"EAST A DISTANCE OF 533.43 FEET TO THE POINT OF CURVATURE OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1,270.00
FEET;
NORTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 24. 11'49"WITH AN ARC DISTANCE OF 554.D7 FEET TO THE POINT OF
`St TANGENCY OF SAID CURVE;
NORTH 24' 29'19"EAST A DISTANCE OF 429.79 FEET TO THE POINT OF CURVATURE OF A CURVE TO THE LEFT HAVING A RADIUS OF 1,344.00
FEET;
�^ NORTHEASTERLY ALONG SAID CURVE TROUGH A CENTRAL ANGLE OF 25. 49'19"AN NRC DISTANCE OF 605.70 FEET TO THE POINT OF TANGENCY
c OF SAID CURVE;
o NORTH 00' 3Y 00"WEST A DISTANCE OF 27548 FEET TO THE NORTHWESTERLY CORNER OF SAID LOT 1. BLOCK 3;
THENCE DEPARTING THE EASTERLY RICHT-OI"-WAY LINE OF AMERICAN BOULEVARD WITH THE NORTHERLY LINE OF SAID LOT 1. BLOC( 3 THE
FOU.OWIW..
Q NORTH 89. OY EAST A DISTANCE OF 59500 FEET TO A POINT;
D
�. NORTH 59. 00'EAST A DISTANCE OF 850.00 FEET TO THE NORTHEASTERLY CORNER OF SAID LOT 1,BLOCK 3;
Z THENCE WITH THE EASTERLY LINE OF SAID LOT 1.BLOCK 3 SOUTH 00'31'WEST A DISTANCE OF 929.00 FEET TO THE NORTHWESTERLY CORNER OF
7S►A{IDDLLOT 1,BLOCK 2;
DISTANCE
F 1 0�9&I�THE EASTERLY
POINTIN THE LOWE§700Y RIGHT-OF-WAYBLOCK IS LIN
E TMSTATE LINE
360 TFOIR THE NORTHEEASTERLLY CORNER EAST
SAID
. BLOCK 1E
THENCE WITH THE WESTERLY RICHT-OF-WAY LINE OF STATE HIGHWAY 36D THE FOLLOWING;
5g SOUTH 00' 23'36"WEST A DISTANCE OF 07.75 FEET TO A POINT;
Si SOUTH 34' 45'15"WEST A DISTANCE OF 60.96 FEET TO A POINT;
o SOUTH 00' 14'57"EAST A DISTANCE OF 149.55 FEET TO A POINT;
u
g' SOUTH 14. IS 33"EAST A DISTANCE OF 103.15 FEET TO A POINT;
SOUTH DO' 12'02"EAST A DISTANCE OF 99.93 FEET TO A POINT;
SOUTH 18' 23'55"WEST A DISTANCE OF 104.32 FEET TO A POINT,
Q
SOUTH 03'04'44"WEST A DISTANCE OF 801.18 FEET TO A POINT;
w
SOUTH D1. 35'43"WEST A DISTANCE OF 300.25 FEET TO A POINT;
f SOUTH 03'30'44"WEST A DISTANCE OF 182.88 FEET TO A POINT;
SOUTH 43'S8'23"WEST A DISTANCE OF 73.34 FEET To THE POINT OF BEGINNING;
(q CONTAINING A COMPUTED AREA OF 124.04 ACRES OF LAND.
Q NOTE: THIS METES AND BOUNDS DESCRIPTION WAS COMPILE)USING INFORMATION CONTAINED IN THE RECORDED DOCUMENTS CITED HEREIN AND DOES
NOT REFLECT THE RESULTS OF AN ON THE GROUND SURVEY.
8001666.004 PAGE 1 OF 2
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o this metes and bounds description.
IE z AUGUST 17,2015
0 SABRE TRACT
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m Tel:817.335.1121
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SHEET 2 OF 2 DATE AUGUST 17,2015 JOB NUMBER: 8001666.004
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EXHIBIT "C"
METES AND BOUNDS OF EXISTING ZONE
(TAX ABATEMENT REINVESTMENT ZONE NO. 91)
BEING a 97.701 acre tract of land situated in the William G. Matthews Survey,
Abstract Number 1052 and the V. J. Hutton Survey, Abstract Number 681,
Tarrant County, Texas, in the City of Fort Worth, being a portion of the
tract of land described in the deed to Dallas-Fort Worth Regional Airport
Board recorded in Volume 6710, Page 520, Deed Records of Tarrant County,
Texas and being all of the tract of land described as the North Tract in the
deed to Dallas-Fort Worth Regional Airport Board recorded in Volume 6653,
Page 856, Deed Records of Tarrant County, Texas, also being a portion of Lot
1, Block 3 and all of Lot 1, Block 2,American Airlines Addition according to
the plat recorded in Volume 388-133, Page 60, Plat Records of Tarrant County,
Texas, and being a portion of the tract of land described as Plot B in the
deed to the City of Fort Worth recorded in Volume 5072, Page 417, Deed
Records of Tarrant County, Texas, said 97.701 acre tract of land being more
particularly described as follows:
BEGINNING at a 5/8 inch iron rod found in the westerly right-of-way line of
State Highway 360 a variable width right-of-way) for the northeasterly corner
of said North Tract and of said Lot 1, Block 2, American Airlines Addition;
THENCE with the westerly right-of-way line of State Highway 360 the
following:
South 000 55' 57"East (Volume 6653, Page 856 & Volume 388-133, Page 60
= South 00023' 38"East) a distance of 87.75 feet to a 5/8 inch iron
rod found for corner;
South 340 12' 56" West (Volume 6653, Page 856 & Volume 388-133, Page
60 = South 34°45' 15" West) a distance of 60. 96 feet to a point;
South 00047 ' 18"East (Volume 6653, Page 856 &Volume 388-133, Page 60 =
South 00° 14 ' 57"East) a distance of 149.86 feet to a 5/8 inch iron
rod found for corner;
South 14 '45' 52"East (Volume 6653, Page 856 & Volume 388-133, Page 60
= South 140 13' 33"East) a distance of 103.15 feet to a 5/8 inch iron
rod found for corner;
South 00' 44 ' 21"East (Volume 6653, Page 856 &Volume 388-133, Page 60 =
South 00° 12 ' 02"East) a distance of 99. 93 feet to a 5/8 inch iron rod
found for corner;
South 15° 53' 36" West (Volume 6653, Page 856 &Volume 388-133, Page 60
= South 160 25' 55" West) a distance of 104 .32 feet to a 5/8 inch iron
rod found for corner;
South 020 32 ' 25" West (Volume 6653, Page 856 &Volume 388-133, Page 60
= South 030 04 ' 44" West) a distance of 601.18 feet to a 3/4 inch iron
rod found for corner;
South 01' 06' 26" West (Volume 6653, Page 856 & Volume 388-133, Page
60 = South 01'38 ' 45" West) a distance of 300.25 feet to a 3.5 inch
aluminum monument found for corner;
South 020 58 ' 25" West (Volume 6653, Page 856 &Volume 388-133, Page 60
= South 03030' 44" West) a distance of 182.88 feet to a 3.5 inch
aluminum monument found for corner;
South 43'26' 04" West (Volume 6653, Page 856 &Volume 388-133, Page 60
= South 430 58 ' 23" West) a distance of 73.34 feet to a point in the
northerly right-of-way line of Trinity Boulevard (a variable width
right-of-way) ;
THENCE departing the westerly right-of-way line of State Highway 360 with the
northerly right-of-way line of Trinity Boulevard the following:
South 860 16' 17" West (Volume 6653, Page 856 &Volume 388-133, Page 60
= South 86'48 ' 36" West) a distance of 119.82 feet to an aluminum disk
stamped "DFW Int Airport" found for corner;
North 82'00' 32" West (Volume 6653, Page 856 &Volume 388-133, Page 60
= North 8 V 28' 13" West) a distance of 372. 43 feet to a point;
South 8744 ' 01" West (Volume 6653, Page 856 &Volume 388-133, Page 60 =
South 880 16' 20" West) a distance of 102.31 feet to a 5/8 inch iron
rod found for corner;
North 840 05' 43" West (Volume 6654, Page 856 &Volume 388-133, Page 60
= North 830 35' 57" West) a distance of 243.89 feet to an aluminum
disk stamped "DFW Int Airport" found for the beginning of a non-
tangent curve to the right having a radius of 1, 372.00 feet;
Northwesterly along said curve through a central angle of 4°21' 00" an
arc distance of 104 .17 feet with a chord bearing of North 700 35' 54"
West and a chord distance of 104 .14 feet to the end of said curve;
North 68029' 39" West a distance of 146.40 feet to an aluminum disk
stamped "DFW Int Airport" found for the point of curvature of a curve
to the left having a radius of 1, 428.00 feet;
Southwesterly along said curve through a central angle of 54027' 23"
an arc distance of 1, 357.23 feet with a chord bearing of South 840 16'
40" West and a chord distance of 1, 306.72 feet to a 5/8 inch iron rod
with a cap stamped "KHA" found at the end of said curve;
South 57032 ' 19" West a distance of 61.02 feet to a 5/8 inch iron rod
with a cap stamped "KHA" found for corner;
South 88044 ' 41" West a distance of 153. 69 feet to a 5/8 inch iron rod
with an orange cap found in the easterly right-of-way line of American
Boulevard (a variable width right-of-way) for the beginning of a non-
tangent curve to the right having a radius of 700.00 feet;
THENCE departing the northerly right-of-way line of Trinity Boulevard with
the easterly right-of-way line of American Boulevard the following:
Northwesterly along said curve through a central angle of 22°24 ' 10"
an arc distance of 273.70 feet with a chord bearing of North 11°26'
O1" West and a chord distance of 271. 96 feet to an aluminum disk
stamped "DFW Int Airport" found at the end of said curve;
North 00° 13' 26" West a distance of 559.39 feet to an aluminum disk
stamped "DFW Int Airport" found for the beginning of a non-tangent
curve to the right having a radius of 1,270. 00 feet;
Northeasterly along said curve through a central angle of 24° 59' 55"
an are distance of 554 . 11 feet with a chord bearing of North 12° 16'
12"East and a chord distance of 549.73 feet to an aluminum disk
stamped "DFW Int Airport" found at the end of said curve;
North 230 59' 25" East a distance of 367.44 feet to a point;
THENCE departing the easterly right-of-way line of American Boulevard North
890 06' 09" East at a distance of 1, 388. 49 feet passing the northwesterly
corner of said Lot 1, Block 2, American Airlines Addition, continuing with
the northerly line of said Lot 1, Block 2 in all a total distance of 1, 788 .49
feet to a point;
THENCE departing the northerly line of said Lot 1, Block 2 North 000 53'
51"West a distance of 100.00 feet to a point;
THENCE North 890 06' 09"East a distance of 300. 00 feet to a point;
THENCE South 000 53' 31"East a distance of 100. 00 feet to a point in the
northerly line of said Lot 1, Block 2;
THENCE with the northerly line of said Lot 1, Block 2 North 890 06' 09" East
a distance of 398.82 feet to the POINT OF BEGINNING;
CONTAINING a computed area of 97. 701 acres (4, 255, 856 square feet) of land.
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 61612017 - Ordinance No. 22745-06-2017
................. ......................
DATE: Tuesday, June 6, 2017 REFERENCE NO.: G-19018
LOG NAME: 17ED TARIZ91-A
SUBJECT:
Conduct Public Hearing and Adopt Ordinance Designating Property at Dallas-Fort Worth International
Airport Located Within the City of Fort Worth as Tax Abatement Reinvestment Zone No. 91A, City of Fort
Worth, Texas, for Construction of a Corporate Headquarters Facility for American Airlines, Inc., and Amend
City Secretary Contract No. 47341 to Include Such Additional Property (COUNCIL DISTRICT 5)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing concerning the designation of property at Dallas-Fort Worth International
Airport that is located within the City of Fort Worth as Tax Abatement Reinvestment Zone No. 91 A, City of
Fort Worth, Texas, for construction of a corporate headquarters facility for American Airlines, Inc.;
2. Adopt the attached ordinance designating Tax Abatement Reinvestment Zone No. 91A, City of Fort
Worth, Texas, pursuant to and in accordance with Chapter 312 of the Texas Tax Code; and
3. Amend City Secretary Contract No. 47341, to reflect that the property subject to abatement under the
Agreement includes the property located in Tax Abatement Reinvestment Zone No. 91A, City of Fort
Worth, Texas.
DISCUSSION:
On November 10, 2015, the City Council adopted M&C G-18605 designating Tax Abatement
Reinvestment Zone No. 91, City of Fort Worth, Texas, and approved execution of a Tax Abatement
Agreement with American Airlines, Inc. (Company), and the Dallas/Fort Worth International Airport Board
for development of a corporate headquarters facility (Project) on property at Dallas-Fort Worth
International Airport located within the City of Fort Worth (City Secretary Contract No. 47341). Under the
Tax Abatement Agreement, the City has agreed to abate a maximum of between 75 percent and 90
percent of the incremental real and personal property taxes from the site for a period of one year provided
that Company expended at least $200 million in real property improvements by December 31, 2019 on
property in the reinvestment zone.
Company now wishes to construct the Project with multiple buildings, which would require a portion of the
Project to be constructed not only on land within the Existing Zone, but also on land within the Zone
proposed. In order for this property to be covered under the Tax Abatement Agreement, the City Council
must also designate this property as a reinvestment zone.
As required by Chapter 312 of the Texas Tax Code, a public hearing must be conducted regarding the
creation or expansion of a Reinvestment Zone. The exact boundaries of the proposed zone are described
in Exhibit A of the attached ordinance. Notice of this hearing was delivered to the governing body of each
affected taxing unit and published in a newspaper of general circulation at least seven days prior to this
Lognaime: 17ED TARIZ91-A Page 1 of 2
hearing.
The area encompassing the proposed Zone meets the statutory criteria for designation as a Tax
Abatement Reinvestment Zone, pursuant to Chapter 312 of the Texas Tax Code, in that the area is likely,
as a result of the designation, to contribute to the expansion of the Company's major investment in the
Zone that would be a benefit to the property and that would contribute to the economic development of the
City. Further, the improvements sought in the Zone are feasible, practical and would be a benefit to the
land to be included in the Zone and to the City after the existing Tax Abatement Agreement to be
amended, has expired.
The term of the proposed Zone will be five years from the date of adoption of the attached ordinance and
may be renewed for periods not to exceed five years each.
The property included in the City of Fort Worth Reinvestment Zone No. 91 consists of a 97 acre tract, with
an established base year of 2015. The 27-acre tract of land to be included in the expanded City of Fort
Worth Reinvestment Zone No. 91A, will establish a base year of 2017 for improvements that occur within
this zone. Staff recommends the expansion of Reinvestment Zone No. 91 and amending City Secretary
Contract No. 47341 to include the new property in the Tax Abatement Agreement.
The proposed Zone is located in COUNCIL DISTRICT 5.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION /CERTIFICATION:
The Director of Finance certifies that approval of this Agreement will have no material effect on the Fiscal
Year 2017 budget. While no current year impact is anticipated from this action, any effect on expenditures
and revenues will be budgeted in future fiscal years and will be included in the long-term financial forecast.
FUND IDENTIFIERS (FIDs):
TO _
Fundi Department ccoun Project Program ctivity Budget # moun
ID IDYearLReference
Chartfield 2
FROM _ _
Fund Department ccoun Project Program ctivity Budget Reference # moun
ID ID Year Chartfield 2
CERTIFICATIONS:
Submitted for City Manager's Office by: Jay Chapa (5804)
Originating Department Head: Robert Sturns (212-2663)
Additional Information Contact: Robert Sturns (212-2663)
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