HomeMy WebLinkAboutResolution 2533A Resolution ~~~ X33
WHEREAS the Fort Worth City Council has heretofore designated Tax Increment
Reinvestment Zone No 2, City of Fort Worth, Texas, by its adoption of Ordinance No 12323 on
December 19 1995 in accordance with the provisions of the Tax Increment Financing Act,
Chapter 311 of the Tax Code, (the Act") and
WHEREAS the purpose of Tax Increment Reinvestment Zone No 2 was to promote the
development of the Texas Motor Speedway and related infrastructure; and
WHEREAS, the Act provides that under certain conditions the boundaries of an existing
tax increment reinvestment zone may be reduced or enlarged by ordinance or resolution of the
governing body of the municipality that created the zone; and
WHEREAS the City of Fort Worth has received a petition requesting enlargement of the
ex~stmg boundaries of Tax Increment Reinvestment Zone No 2 to include the areas described m
said petition, and
WHEREAS, the Act provides for the City to notify m writing each taxing unit that levies
real property taxes m the proposed reinvestment zone of its intent to establish a reinvestment
zone at least sixty (60) days prior to holding a public hearing regarding the creation of the
reinvestment zone; and
WHEREAS, other preliminary procedural steps must be adhered to prior to the
establishment of a reinvestment zone.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
Section 1 That the passage of this resolution evidences the intention of the City to consider
the enlargement of Tax Increment Reinvestment Zone No 2 by the addition of some or all of the
areas described in the Petition Requesting Enlargement For Fort Worth Tax Increment Finance
Reinvestment Zone Number Two, attached and incorporated as Exhibit A to this Resolution.
Section 2. That the City Manager is hereby authorized and directed to forward a certified
copy of this Resolution, with exhibits, to the governing bodies of each taxing unit that levies real
property taxes in the proposed reinvestment zone, along with written notice that the City intends
to establish the zone, which notice shall include a description of the boundaries for the proposed
additions to the reinvestment zone area, a description of the tentative plans for the development
of the to the zone and an estimate of the general impact of the proposed reinvestment zone on
property values and tax revenues. The written notice shall request that each taxing unit designate
within fifteen (15) days a representative to meet with the City to discuss the project plan and the
financing plan for the reinvestment zone, as provided by the Act.
Section 3 That the City Manager or his designated representative is authorized to undertake
other preliminary preparations and actions m accordance with the Act.
CITY OF FORT WORTH
Section 4. That nothing herein shall be construed as obligating the City of Fort Worth to
enlarge the boundaries of the existing reinvestment zone.
Section 5. That this resolution shall take effect immediately from and after rts passage m
accordance with the provisions of the Charter of the City of Fort Worth and rt is accordingly so
resolved.
IN TESTIMONY WHEREOF I have hereunto set
my hand and caused the Official Seal of the City of
Fort Worth, Texas, to be affixed this day of
A.D 1999
'Q
MAYOR
APPROVED
CITY COUNCIL
MAY 25 1999
i~ ~--,~
City Secretary of the
City of Fort 1North, Tazas
r. - -~ •e V ~4t,
CITY OF FORT WORTH
~~ Exhibit A
PETITION REQUESTING ENLARGEMENT OF
• FORT WORTH TAX INCREMENT FINANCE REINVESTMENT ZONE
NUMBER TWO
TO THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS
The undersigned ("the Petitioners") being the owners of property constituting at least
fifty percent (50%) of the appraised value of the land hereinafter described, according to
the most recent certified appraisal roll of the Denton County Appraisal Distract, the
county m which the area is located, do hereby petition the City Council of the City of Fort
Worth, Texas to expand the Tax Increment Finance Reinvestment Zone Number Two,
Fort Worth, Texas, created on December 19 1995 by Ordinance No 12323 (hereinafter
`the Zone ') and designate as a part of the Zone the following tracts or parcels of land,
shown on two maps included as Exhibits A and `B and being more particularly
described on Exhibits `C" `D" and `E" which are attached hereto and hereby
incorporated by reference
The purpose of the expansion of the reinvestment zone will be to promote the
development of the property
Pursuant to Chapter 311 of the Texas Tax Code the Petitioners request that the City
Council, the governing body of the City expand the Zone and designate the area
described above as part of the Zone under the provisions of Sections 311 005(a}(5) and
311 007(b) of the Texas Tax Code to promote the development of such area. To support
the expansion and designation, rt will be shown that the proposed improvements in the
Zone will significantly enhance the value of all the taxable property in the Zone and will
be of general benefit to the City
The tentative plans for the proposed expanded area of the zone include a resort hotel, golf
course and educational facilities, including an automotive trade center and athletic
complex.
While a portion of the land and improvements to be constructed thereon may in fact be
exempt from ad valorem taxation, we estimate that the value of both the land and
improvements, at full development, will exceed seventy seven million dollars
($77 000 000)
It is anticipated that 100% of the tax increment generated by all taxing units from any real
property taxes levied on the projects will be dedicated to the payment of project costs
incurred within the zone
The Petitioners request such other action and assistance that the City Council may deem
necessary and appropriate to implement the development of the Zone
Respectfully submitted to the Cary Counc~~ of the C2ty of Fort VVozth by and through ~t_s
Cary Secretary on this day of May 1999
ATTEST
Name ~ry C~~~~-~
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ATT~ c'i'
By
Nay
Title y l«, `~(~s1 ~~
NORTHWEST INDEPENDENT
SCHOOL DISTRICT . ~.._..
Pnnted Narr~e_ ~~ r ~ `~~~.r,a5
President, Board of Trustees
Date S la ~ ~
BEECHWOOD BUSINESS PARK
JOINT VENTURE
I3y its Creneral Partner
FOSSILWOOb INVESTIvIENTS L.P
a Te:~as Ltmxted Partnership
By ats General Partner
BEECHWOOD ROANOKE, INC a
'T'exas tporatlon!
By-
rank '4V Hazx~.son, III
President
Date• Jr' G'l `~
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By
Nay
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Title ~ ~~~ l Y e~ ~ ~l~,v~
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BEECHWOOD HOSPTT~ILITX
DEVELOPMENT L.P
a Texas Limited Partnership
By xts General Partner
BHi 114 DEVELOPM NT INC a Texas
Corpo non
By' ..~ G~
Frank W Hamson, III
President
Date ~ f ~.(~ ~ `~
-T
BEECHWOOD GOLF
DEVELOPMENT L.P.,
a. Texas Limited Partz~ezshzp
By its General Partner
BG/114 DEVELOP ENT INC a Teas
Corpa ~ tion
By ~./ _C
Frank W Hamson, III
President
Date. ~ `~}-(~ ``~ `~
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ATTEST
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NORTHWEST ISD EXHIBIT "A"
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EXHIBIT "C"
NORTHWEST ISD ~~ DESCRIPTION
BEINc3 290 q0 noes of land located in the C Tl'DING 6URVEY, Abstract No
1276, the H C & W T BhOAN BIIRVRX, Abetraot No 1533, the J IVY BtntVSY,
Abetraot No 849, and the R. tRATANTY StiRVEY, Abetraat No 878 nll of
ti `' n County, Texas, and being ell of the gropnrty conveyed by warranty
to Northwest ISD aocordinq to the deeds reoorded in Volume 393, Paga
5 Volume 1047, Pags 995E valutae 1607, page 797 Volume 1782, Page 918;
ahd Caunty Clerk File No 95-R004Z061 of the aesd Reoords of Denton
County, Toxae Said 230 90 saxes o= land being more particularly
deear sd by melee and bounds, ae follows
880INNINO at a paint in the present Northwest City Limit Line of the City
of Fort Worth, per ordinance No 12311 adopted an December 12,
1995 Said point being in the Enst right--of-way line of the Snnta
Fe Railroad Compeny right-of-wQy atld lying 272 95 feet, Southwest
of the South right-of-way line of state Highway Na 114;
THISNCB N 89° 46 08" W 2437 52 feet, cra$sing the right-of-way of
said Santa Fa Railroad Company ahd FM Highway Na 156, and
following along the North l~.ne of the property conveyed to
Northwest ISD by the deed recorded 3..u volume 1047, Page 945 of the
bead Records of Tarrant County, Texan, to a point;
THENCE N 00° 08' 50 8 007 86 feet, along the $aet lice of the
• Tract of lend conveyed to Northwest IBA reworded in County Clerk
File Na. 95-^~tD042861 of the Deed Records of tienton County, Texas,
to a pol.nt in the South right--of--way 13ne of the aforesaid state
Highway No 1141
THL"NC!! NORTHWLBTLRLY, along the South right-of~way line of said Stnte
Highway No 114, as follows
1 N 67° 34' 15 W• 2563 49 feet, to a point;
2 N 67° 40 01 W ?84 40 feet, to a point at the beginning of
a curve to the leftt
3 NORTHWS9T$RLY 415 60 fact, along said curve to the left
having ~ rndius of 28b4 79 feat, a central angle of 08° 18
43`, otsd n chord bearing N T2° 24~ 58 W 415 24 feet, to e
paint, said paint being the Northwest corner of the property
conveyed to Northwest Isp by the dead recorded in Volume 352,
page 518 of the Reed Records of Aeaton County, TaxasS
TxELrcR 8 01° O1 46 .8 1778 00 feat, along the Wagt line of said
Northwest ISD Tract, to n point at the Southwest corner thereof
THENCE N 88° 5B' 14 E 784 26 feet, along the South line of said
Northwest ISD Tract, to a int Said point being the Northwest
corner of the Tract of land conveyed to Northwest IBA by the deed
recorded in Volume 1607, Page 797 of the Deed Records of Denton
County, Taxes;
THENCE S 00° 08' S8 W 161.6 76 feet, along the Waet line of said
Natthweat ISb Tract, to a point at the Southwest corner thereof
TlSSNCS N 88° 40 37 8 1767 68 feet, along the Routh licie of said
Northwest ISD Tract, to a paint;
T~NCE s 08° 35~ 47 E 383 25 feet, along the Weet line of the
Tract of land ooav0yed to Northwest IBD by the dead recorded in
Volw~e 1047, Page 995 of the Deed Reoorde of Denton Caunty, Te?tes,
to a point at the southwest oorner thareofj
TRENCH N 89° 58 46" E 1936 27 fast, along the South line of said
Northwest ISD Tract, and Crossing the aforesaid right-of-wey of
FM Highway Na 156 and the $nata Fe Railroad right-of-way to a
point in the Bast right-of-way Line of said Santa Pe Railroad
Said point being in the present Northwest City Limit Tine of the
City of Foil Worth, according to Ordinance No 12311 adopted
December 13, 1996;
~...
ENCE slang the Ea~rt right~of-way l~.ne of said Santa Fe Railroad, ar~d
the Northwest right--of-way line of the City of Fort Worth Corporate
aoundary Limits per Ordinance Na 12311, ag follows
1 N X2° 2?' 03" £ 566 30 feet, to a point;
2 S 77° 32' 57" E 25 00 feet, to a point;
3 N 12° 27' 03" E 288 30 feet, to a point;
4 S 88° 16' 22" E 27 60 feet, to a point;
5 N iz° 22' 02° E 987 05 feet, to THE ~X•ACE aF BEGINNING,
containing 230 90 aareB of land more ar less
C
•
EXHIBIT "D"
SEECHVVOOD BUSINESS PARK
BEING a 15.11 acre tract of land located in the City of Fort Worth E.T.J., Denton County Texas
and being situated in the Jesse Daniel Survey, Abstract No. 349, and the Rufus Daniel Survey
Abstract No. 362, and being part of a 281 1 acre tract of land descn'bed to Beechwood Park Joint
Venture, as filed in Doc. No. 9780064765 dated 9-16-97 said tract being more particularly
described as follows:
COMMENCING at '/z -inch found iron rod w/I.andes cap located at the most southeasterly comer
of said Beechwood Company tract, said point also being along the west right of-way line for
Interstate Highway 35W
THENCE North 00 degrees 42 minutes 49 seconds West along the south line of said Beechwood
Co, tract a distance of 3139 feet to a frinch found iron rod w2andes cap for a comer,
THENCE North b8 degrees 29 minutes 00 seconds West continuing along said south line a
distance of 1029.90 feet to a 5!8-inch found iron rod w/C&B cap for a corner,
TFIII~ TCE North 34 degrees 17 minutes 03 seconds West departing said souffi line, a distance of
708.64 feet to a %s-inch iron and with "Halff Assoc Inc. cap, hereafter called with cap, set for THE
• POINT OF BEGINNIlIG;
THENCE South 73 degrees 28 minutes 15 seconds West a distance of 310.80 feet to a'/:-inch iron
rod with cap set for a comer;
THENCE North 75 degrees 49 minutes 55 seconds West a distance of 471.18 feet to a %rinch iron
rod with cap set for a corner;
THENCE North 04 degrees 36 minutes 59 seconds West a distance of 97.83 feet to a'l~inch iron
rod with cap set for a comer;
~_ THENCE North 40 degrees 18 minutes 51 seconds West a distance of 77 10 feet to a %inch iron
rod with cap set for a comer;
THENCE North Ol degrees 55 minutes 39 seconds West a distance of 154 10 feet to a %: inch iron
rod with cap set for a corner;
. THENCE North 19 degrees 52 minutes 42 seconds East a distance of 150.00 feet to a %:-inch iron
rod with cap set for a corner;
THENCE North 70 degrees 07 minutes 18 seconds West a distance of 206.80 feet to a 'h-inch iron
rod with cap set for a comer;
THENCE North 06 degrees 34 minutes 48 seconds East a distance of 177 76 feet to a'/z-inch iron
rod with cap set for a corner,
TRENCH North 22 degrees 19 minutes 19 seconds West a distance of 29.60 feet to a %:-inch iron
rod with cap set for a corner;
THENCE South 89 degrees 26 minutes 50 seconds East a distance of 959.31 feet to a Y:-inch iron
rod with cap set for a corner,
THENCE South 00 degrees 33 minutes 10 seconds West a distance of 74335 feet to THE POINT
OF BEGINNING AND CONTAINING 658,026 squaze feet or 15.11 acres of land more or less.
C:
EXHIBIT "E"
BEEC~~'~0~1~~acIe GaS~o~lanTfocated in the City of Fort Worth E.T.J., Denton County
Texas and being situated in the Jesse Daniel Survey, Abstract No. 349, the Rufus Daniel
Survey Abstract No. 362, the A.M. Feltus Survey Abstract No. 1464 the George W
Shamblin Survey Abstract No. 1191 and the R. Matany Survey Abstract No. 878 and
being part of the P.K. Matthews Survey, Abstract No. 865 and being part of a 902 acre
tract of land described to Roanoke Ranch and Investment Ca., as recorded in deed
Volume 2699, Page 979, of the Deed Records of Denton County Texas (D.RO.C.T.),
and also being part of a 281 1 acre tract of land described to Beachwood Business Park
Joint Venture, as recorded in Doc. No. 9780064765 dated 9-18-97 said tract being more
particularly described as follows:
BEGINNING at %rinch found iron rod with Landes cap located at the most southeasterly
comer of said Beachwood Company tract. said point also being along the west right-of-
way line for Interstate Highway 35W'
THENCE North 00 degrees 42 minutes 49 seconds West along the south line of said
Beachwood Co. tract a distance of 31.39 feet to a %Z-inch found iron rod with Landes cap
for a comer
THENCE North 68 degrees 29 minutes QO seconds West continuing along said south line
a distance of 1029.90 feet to a 5/8-inch found iron rod w/C&B cap for a comer
THENCE South 16 degrees 02 minutes.02 seconds West a distance of x56.45 feet to a
%rinch found iron rod for a comer
THENCE North 89 degrees 12 minutes 03 seconds West a distance of 666.93 feet to a
5/8-inch found iron rod w/C&B cap for a comer
THENCE South 01 degrees 50 minutes 45 seconds West a distance of 217.26 feet to a
5/8-Inch found iron rod w/C&B cap for a corner
THENCE North 87 degrees 10 minutes 09 seconds West a distance of 683.41 feet to a
'/rinch found iron rod for a corner
THENCE North 86 degrees 52 minutes 48 seconds West a distance of 502.92 feet to a
'/rinch found square rod for a comer
THENCE North 05 degrees 35 minutes 25 seconds West departing said south line and
along the west tine of said Beachwood Co tract, a distance of 142.79 feet to a 1-inch
• found pipe for a comer
THENCE North 89 degrees 13 minutes 49 seconds West departing said west line of said
Beachwood Co. tract and along the south line of said Roanoke Ranch and investment Co
tract a distance of 3053.31 feet to a point for a comer
THENCE North 22 degrees 29 minutes 25 seconds East departing said south line a
distance of 229.13 feet to a point for a comer
THENCE North 47 degrees 01 minutes 38 seconds East a distance of 209 41 feet to a
point for a comer
THENCE North 57 degrees 40 minutes 58 seconds East a distance of 300.67 feet to a
point for a comer
THENCE North 17 degrees 56 minutes 27 seconds West a distance of 577.27 feet to a
point for a comer
THENCE North 12 degrees 01 minutes 26 seconds West a distance of 355.78 feet to a
point for a comer
•
i~
~; THENCE North 35 degrees 14 minutes 54 seconds West a distance of 856.30 feet to a
point for a comer
THENCE North 21 degrees 08 minutes OS seconds West a distance of 509.54 feet to a
point for a comer
THENCE North 42 degrees 26 minutes 47 seconds West a distance of 1076.96 feet to a
point for a comer
THENCE North 07 degrees 39 minutes 06 seconds East a distance of 495.78 feet to a
point for a comer
THENCE North 62 degrees 26 minutes 18 seconds East a distance of 155.92 feet to a
point for a corner
THENCE South 64 degrees 03 minutes 31 seconds East a distance of 285.87 feet to a
point for a comer
THENCE South 38 degrees 11 minutes 56 seconds East a distance of 500.61 feet to a
point for a comer
THENCE South 00 degrees 37 minutes 51 seconds West a distance of 133.14 feet to a
point for a corner
THENCE North 89 degrees 39 minutes 33 seconds East a distance of 27.66 feet to a
point for corner
THENCE South 00 degrees 20 minutes 27 seconds East a distance of 120.70 feet to a
point for comer
THENCE South 45 degrees 41 minutes 48 seconds East a distance of 97.89 feet to a
point for a comer
THENCE North 89 degrees 39 minutes 33 seconds East a distance of 70.47 feet to a
point for a corner
THENCE South 24 degrees 28 minutes 23 seconds East a distance of 10910 feet to a
point for a comer-
THENCE North 89 degrees 39 minutes 33 seconds East a distance of 96.03 feet.to a
• point for a comer
THENCE North 00 degrees 20 minutes 27 seconds West a distance of 69.51 feet to a
point for a corner
THENCE North 89 degrees 39 minutes 33 seconds East a distance of 146.97 feet to a
point for a comer
THENCE South 45 degrees 58 minutes 12 seconds East a distance of 68.31 feet to a
point for a corner
THENCE South 20 degn;es 36 minutes 46 seconds East a distance ofi 918.14 feet to a
point for a comer
THENCE South 30 degrees 35 minutes 33 seconds East a distance of 733.43 feet to a
point for a comer
THENCE South 34 degrees 30 minutes 16 seconds East a distance of 803.44 feet to a
point for a comer
THENCE South 65 degrees 37 minutes 28 seconds East a distance of 598.44 feet to a
point for a comer
THENCE North 83 degrees 04 minutes OS seconds East a distance of 843.02 feet to a
point for a comer
THENCE North 73 degrees 31 minutes 12 seconds East a distance of 258.14 feet to a
point for a comer
THENCE North 39 degrees 12 minutes OS seconds East a distance of 30412 feet to a
point for a comer
THENCE North 00 degrees 40 minutes 55 seconds West a distance of 567.02 feet to a
point for a comer
THENCE North 26 degrees 01 minutes 23 seconds West a distance of 416.22 feet to a
point for a comer
THENCE North 47 degrees 22 minutes 31 seconds West a distance of 941 76 feet to a
point for a comer
THENCE North 51 degrees 11 minutes 16 seconds West a distance of 617.96 feet to a
point for a corner
THENCE North 45 degrees 35 minutes 12 seconds West a distance of 931.53 feet to a
point for a corner
THENCE North 00 degrees 33 minutes 10 seconds East a distance of 121 78 feet to a
point for a corner
THENCE South 89 degrees 26 minutes 50 seconds East a distance of 990.48 feet to a
point for a corner
THENCE South 00 degrees 33 minutes 10 seconds West a distance of 122.88 feet to a
point for a comer
THENCE South 35 degrees 07 minutes 47 seconds East a distance of 761.35 feet to a
point for a comer
THENCE South 59 degrees 59 minutes 40 seconds East a distance of 324 41 feet to a
point for a comer
THENCE South 53 degrees 20 minutes 19 seconds East a distance of 848.40 feet to a
• point for a corner
THENCE South 22 degrees 19 minutes 19 seconds East a distance of 695.04 feet to a'/z
inch set iron rod with a yellow plastic cap stamped "Halff Assoc., Inc. hereafter called
'~+vith cap" for a comer
THENCE South 06 degrees 34 minutes 48 seconds West a distance of 177 76 feet to a
%inch set iron rod with cap for a comer
THENCE South 70 degrees 07 minutes 18 seconds East a distance of 206.80 feet to a %r
inch set iron rod with cap for a comer
THENCE South 19 degrees 52 minutes 42 seconds West a distance of 150.00 feet to a
%rlnch set iron rod with cap for a corner
THENCE South 01 degrees 55 minutes 39 seconds East a distance of 154 10 feet to a %r
inch set iron rod with cap fora. comer
THENCE South 40 degrees 18 minutes 51 seconds East a distance of 7710 feet to a %r
inch set iron rod with cap for a comer
. THENCE South 04 degrees 36 minutes 59 seconds East a distance of 97.83 feet to a'/r
inch set iron rod with cap for a comer
l ~~
THENCE South 75 degrees 49 minutes 55 seconds East a distance of 471 18 feet to a'/r
inch set iron rod with cap for a comer
THENCE North 73 degrees 28 minutes 15 seconds East a distance of 332.17 feet to a
point for a corner
THENCE North 84 degrees 40 minutes 20 seconds East a distance of 135.00 feet to a
point for a comer
THENCE South 77 degrees 34 minutes 21 seconds East a distance of 492.99 feet to a
point for a comer
THENCE South 59 degrees 09 minutes 12 seconds East a distance of 1084.93 feet to a
point for a corner on the west right-of-way line of Interstate Highway 35W
THENCE South 30 degrees 54 minutes 48 seconds West along said west right-of--way
line a distance of 408.97 feet to the POINT OF BEGINNING AND CONTAINING
9,429,701 Square feet or 216.5 acres of land more or less.
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