HomeMy WebLinkAboutResolution 2014A Resolution ~ 1
Adopted Resolutwn No..~,..~~
WHEREAS the City of Fort Worth desires to promote the development and redevelopment of
a section of the Downtown area 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 jurisdictions which levy real property taxes within the proposed zone ('taxing
units') regarding the establishment of such reinvestment zone and
WHEREAS the Act requires the City to notify the affected taxing units of its intent to establish
a reinvestment zone at least sixty (60) days prior to holding a public hearing regarding the
creation of a 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 create a
reinvestment zone for a portion of the Downtown 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
property values and tax revenues are attached hereto as Exhibit A
Section 2 That a Public Hearing is hereby scheduled to be held before the Fort Worth City
Council on December 13 1994 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
Section 3 That the City Secretary is hereby directed to forward a certified copy of this
resolution, with exhibits, not later than the 60th day before the date of the Public Hearing that
date being December 13 1994 to the governing bodies of each taxing unit that levies real
property in the proposed reinvestment zone along with written notice that the City intends to
establish the zone and requesting that each taxing unit 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 not 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 in a newspaper having general
circulation in the City
CITY OF FORT WORTH
CITY OF FORT WORTH