HomeMy WebLinkAboutResolution 247512-11-98A08 49 RCVD
A Resolution
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RESOLUTION AUTHORIZING AN INTERLOCAL AGREEMENT
WITH THE CITIES OF IRVING AND DALLAS
FOR THE SHARING OF REVENUES
GENERATED WITHIN THE BOUNDARIES OF D/FW INTERNATIONAL AIRPORT
WHEREAS, a portion of the City of Irving (Irving) is located wnthm the geographical
boundaries of the Dallas/Fort Worth International Airport (the Aiport); and
WHEREAS, Irving desnres to increase economic development and fob creation
opportunities for that portion of Irving located wrtlun Auport boundaries as those boundanes
currently exnst or as they maybe changed nn the future (the Property}, and
WHEREAS, in exchange for the City of Fort Worth (Fort Worth), the City of Dallas
(Dallas), and the Auport's Board (the Board) encouraging and giving consideration to the
development of future economic development projects on the Property Irving ns wilting to share
revenues with Fort Worth and Dallas equivalent to certain tax and other revenues generated from
the Property and
WHEREAS, a proposed Interlocal Agreement (attached hereto) between Fort Worth,
Dallas, the Board and Irving has been negotiated which provides for the sharing of amounts equal
to Increased Revenues, as defined therein, generated from the Property• and
WHEREAS, the Board has approved the Interlocal Agreement by nts adoption of
Resolution 98-10-327 on October 23 1998 and
WHEREAS Irving has approved the Interlocal Agreement by the adoption of Resolution
No. 10-22 98-535 by the Irving City Council on October 22, 1998 and
WHEREAS Dallas has approved the Interlocal Agreement by the adoption of Resolution
No 98-19-327 by the Dallas City Council an December 3 1998
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
1 That the City Manager is authorized to execute the attached Interlocal Agreement.
2. That the City Manager and Cnty Attorney shall be authorized to make any nonsubstantnve
revisions to the Interlocal Agreement whch may be necessary prior to nts executnon
CITY OF FORT WORTH
CITY OF FORT WORTH