HomeMy WebLinkAboutResolution 2550A Resolution 25 5C~
WHEREAS, the Fort Worth City Council has heretofore designated Tax Increment
Reinvestment Zone No 2, City of Fort Worth, Texas, (the Zone") 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 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
existing boundaries of the Zone from the owners of property constituting at least 50 percent of
the appraised value of the property to be added to the Zone, according to the most recent certified
appraisal roll for Denton County the county m which the property is located, and
WHEREAS the Act requires the Crty to notify m writing each taxing unit that levies real
property taxes in the proposed reinvestment zone (the affected taxing amts ') at least 60 days
prior to holding a public hearing regarding the creation of a reinvestment zone (unless the 60 day
notice period is waived by affected taxing units)
WHEREAS on or before May 31 1999 the City notified m writing the affected taxing
amts of its intent to expand the Zone, in accordance with the Act; and
WHEREAS, the Crty desires to schedule a public hearing to be held prior to ~.ts
consideration of an ordinance or resolution enlarging the Zone;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
Section 1 That a public hearing is hereby scheduled to be held before the Fort Worth City
Council at its regular meeting of August 10 1999 for the purpose of receiving public comment
on the proposed 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, submitted to the City Council on May 21
1999 That at such public hearing, comments maybe received concerning the enlargement of the
Zone, the benefits to the municipality and to the property in the proposed enlarged Zone, the
boundaries of the Zone, or the concept of tax increment financing.
Section 2. That the Crty Manager is hereby authorized and directed to forward a certified
copy of this Resolution to the governing bodies of the affected taxing units.
CITY OF FORT WORTH
Section 3. That not later than the 7th day before the date of the public hearing, the City
Secretary shall cause notice of the public hearing to be published in a newspaper having general
circulation m the City m accordance with the Act.
Section 4. That the City Manager or his designated representative is authorized to undertake
other preliminary preparations and actions m accordance with the Act.
Section 5. That nothing herein shall be construed as obligating the City of Fort Worth to
enlarge the boundaries of the existing reinvestment zone.
Section 6. That tlvs resolution shall take effect immediately from and after its passage in
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
GLORIA PEARSON CITY SECRETARY
CITY OF FORT WORTH