HomeMy WebLinkAboutResolution 2338A Resolution
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A RESOLUTION EVIDENCING THE INTENTION OF THE CITY TO
CREATE A REINVESTMENT ZONE FOR THE SOUTH SIDE AREA
PURSUANT TO THE TAX INCREMENT FINANCING ACT (CHAPTER
311, TAX CODE); SCHEDULING A PUBLIC HEARING THEREON, AND
DIRECTING THE CITY SECRETARY TO GIVE NOTICE TO OTHER
TAXING UNITS AND BY PUBLICATION IN ACCORDANCE WITH THE
ACT
WHEREAS, the City of Fort Worth desires to promote the development and
redevelopment of the Southside Area (South of Interstate 30 and North of Allen Avenue) by
creation of a reinvestment zone pursuant to the Tax Increment Financing Act, Chapter 311 of the
Tax Code, (the Act"); and,
WHEREAS, the City desires to receive the comments of all affected property owners and
of other taxing ~unsdichons which levy real property taxes within the proposed zone ("taxing
amts") regarding the establishment of such reinvestment zone; and,
WHEREAS, the Act requires the City to notify the affected taxing units of rts intent to
establish a reinvestment zone at least sixty (60) days pnor to holding a public hearing regarding the
creation of a reinvestment zone; and,
WHEREAS, other preliminary procedural steps must be adhered to pnor to the
establishment of a reinvestment zone.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH.
Section 1 That the passage of this resolution evidences the intention of the city to create a
reinvestment zone for the Southside area pursuant to the Act. The boundaries for the proposed
reinvestment zone area, a description of the tentative plans for the development of the proposed
'zone, and an estimate of the general impact of the proposed reinvestment zone on properly values
and tax revenues are attached hereto as Attachment A
Section 2 That a Public Heanng is hereby scheduled to be held before the Fort Worth City
Council on November 25 1997 for the purpose of receiving public comment on the creation of a
tax increment reinvestment zone for the defined area, and its benefits to the City and to property in
the proposed zone.
CITY OF FORT WORTI3
Section 3. That the City Secretary is hereby directed to forward a certified copy of this
resolution, with attachments, not later than the 60~' day before the date of the Public Hearing, that
date being November 25 1997 to the goveriung bodies of each taxing unit that levies real property
m the proposed reinvestment zone, along with written notice that the City intends to establish the
zone, and requesting that each taxing umt designate within 15 days a representative to meet with
the City Council to discuss the project plan and the reinvestment zone financing plan, as required
by the Act.
Section 4. That no later than the seventh day before the date of the public hearing, the City
Secretary shall cause notice of the public hearing to be published m a newspaper having general
circulation m the City
Section 5. That the City Manager or lus designated representative is authorized to
undertake other preliminary preparations and actions m accordance with the Act.
Section 6. That this 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 it 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 1997
MAYOR
APPR~-V~~
CITY CflUNGI~
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