HomeMy WebLinkAboutResolution 2634
V
RESOLUTION
No ~ 63 y
AMENDING THE BOUNDARIES OF
TAX INCREMENT REINVESTMENT ZONE NUMBER FOUR,
CITY OF FORT WORTH TEXAS
WHEREAS Tax Increment Reinvestment Zone Number Four was created by the
Fort Worth City Council by adoption of Ordinance No 13259 on November 25 1997
and a corrected legal description was substituted on December 16, 1997 by Mayor and
Council Communication No G 12091 and
WHEREAS certain properties located within the boundaries of Tax Increment
Reinvestment Zone Number Four may qualify for an historic restoration tax exemption
under Chapter 4 Article 5 of the zoning ordinance, codified as Appendix A to the Fort
Worth City Code; and
WHEREAS, Section 311 013(g) of the Texas Tax Code permits other taxing
units, but not cities, to grant exemptions from taxation to properties located within a tax
increment reinvestment zone, and
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WHEREAS Section 311 007 of the Texas Tax Code provides that the boundaries
of an existing reinvestment zone may be enlarged or reduced by ordinance or resolution
of the governing body of the municipality that created the zone; and
WHEREAS, ten parcels were excluded from the creation of Tax Increment
Reinvestment Zone Number Four by Ordinance No 13259 as amended on December 16
1997 at the request of property owners who wished to preserve their eligibility to seek
historic tax exemptions, and
WHEREAS one of the properties excluded on December 16 1997 identified as
Lots 4B and SC, Block 17 Jennings South Addition, was incorrectly identified as 201
South Jennings, whereas the correct address is 201 Lipscomb Street;
WHEREAS, the owners of the real property described on Exhibit A have
requested in writing that the property be taken out of Tax Increment Reinvestment Zone
Number Four so as to enable the property to qualify an for historic tax exemption under
the provisions of the applicable city ordinances, and
WHEREAS, the Board of Directors of Tax Increment Reinvestment Zone
Number Four has reviewed the requests of the property owners and has concurred with
the requests, and
WHEREAS the Economic Development Committee of the City of Fort Worth
• has reviewed the requests of the property owners and has concurred wzth the requests,
and
WHEREAS revision of the boundaries by removing the properties described on
Exhibit A will not violate the restrictions on composition of Tax Increment
Reinvestment Zone Number Four contained m Section 311 006 of the Texas Tax Code,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS
THAT the boundaries of Tax Increment Reinvestment Zone Number Four be
revised by correctly identifying the property described as Lots 4B and SC, Block 17
Jennings South Addition, which was excluded from the TIF on December 16 1997 as
201 Lipscomb Street; and
THAT the boundaries of Tax Increment Reinvestment Zone Number Four be
revised by removing the properties described on Exhibit A attached and incorporated
herein.
ADOPTED thzs 16 day of -7~ 2000
..
Mayor
APPROVED AS TO FORM AND LEGALITY
~~-~G--
Assistant City Attorney
APPROVED
CITY COUNCIL
MAY 16 200Q
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EXHIBIT "A"
312 W Cannon Street
Blk. 18, Lot 3R, Tucker Addition
801 S Main Street
Blk. 29 Lots 1 7A, 7B & 8 Tucker's Addition
210-214 St. Louis Avenue
Blk. 1 Lots 11 and 12, Smith & Jones Daggett Addition
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