HomeMy WebLinkAboutContract 44715-CA2 CITY SECRETARY I
CONTRACT N0.
ASSIGNMENT OF TAX ABATEMENT AGREEMENT
This Assignment of
t is made and entered into
4,�9 by and between Mak P. Mitchell and Erin Abatement
Mitchell l((elAssignor') and April L Prevost
atrick H. Prevost, ("Assignee') and the City of Fort Worth, ("City')
RECITALS
A. Shawn Fite and the City of Fort Worth, Texas (the "City') entered into that
certain Tax Abatement Agreement ("Agreement') for Property Located 1809
Alston Avenue, Block H, Lot 12, Bellevue Hill Addition, an Addition to the City
of Fort Worth, Tarrant County Texas, according to the plat thereof recorded in
Volume 106, Page 39, Plat Records, Tarrant County, Texas. ("Property') which
is located in the Magnolia Village Neighborhood Empowerment Zone, such
Agreement approved by the City Council of Fort Worth July 16, 2013, City
Secretary Contract Number 44715 ("Agreement'):
B. Section 5 of the Agreement permits Assignor to assign all of its rights under the
Agreement to a home buyer, without obtaining the prior consent of the City
Council:
C. Shawn Fite assigned the Agreement to Mark P. Mitchell and Erin R. Mitchell,
Assignor, such Agreement is dated March 20, 2014, City Secretary Contract
Number 44715-CA 1.
D. Section 5 of the Agreement permits Assignor to assign all of its rights under the
Agreement to Assignee, without obtaining the prior consent of the City Council:
E. Pursuant to that certain Special Warranty Deed dated as of April 7, 2017,
recorded under Tarrant County Deed Records, Assignor conveyed the Property to
April L. Prevost and Patrick H. Prevost and Assignee acquired title to the real
property which is the subject of the Agreement.
AGREEMENT
NOW THEREFORE, in consideration of the mutual terms and conditions herein
contained and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows:
I. Assignment. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all
rights, duties, obligations, title and interest under the Agreement to Assignee.
2. Acceptance. Assignee hereby accepts the Assignment granted herein, and assumes
all of Assignor's rights, duties and obligations arising under the Agreement.
3. Effective Date. The effective date of this Assignment is April 7, 2017, ("Effective
Date'). All rights, duties and obligations under the Agreement ari ,
Assignment of Tax Abatement Contract#44715-CA1 OFFICIAL RECORDr�Yr�C�t '�i1RY
From Mark P. Mitchell and Erin R. Mitchell to April L. Prevost and Pa is rev
1 Ft WORTH,YX
relating to the period before the Effective Date are allocated to Assignor and all
rights, duties and obligations arising, accruing or relating to the period thereafter
shall be allocated to Assignee.
4. Release and Surrender of Assignor. Except as otherwise expressly set forth in this
Assignment, Assignor will be discharged from any and all further obligations under
the Agreement as of the Effective Date. Assignor must surrender the Property to
the Assignee on or before 11:59 p. in. on the date prior to the Effective Date in its
present condition. Assignor relinquishes any right to any improvements, fixtures or
equipment on the Property.
5. Representations. Assignor represents, warrants and covenants with Assignee that
as of the Effective Date, that Assignor is not in default under any of its obligations
contained in the Agreement.
6. City of Fort Worth's Consent. City of Fort Worth hereby consents to this
Assignment upon the terms and conditions set forth herein. Unless and until City of
Fort Worth has executed this Assignment, this Assignment is of no effect the
consent granted herein should not be construed as consent to any further assignment
except as provided in the Agreement. The failure or delay of City of Fort Worth in
seeking to enforce any provisions of the Agreement or this Assignment should not
be deemed a waiver of rights or remedies that City of Fort Worth may have, or a
waiver of any subsequent breach of the terms and provisions therein or herein
contained.
7. Notices. Any notice given by any party to another party hereto must be given in
the manner required under the Agreement. The addresses set forth below
supercede any addresses for notices set forth in the Agreement.
CITY OF FORT WORTH:
City of Fort Worth
Neighborhood Services Department
NEZ Program
200 Texas Street
Fort Worth, Texas 76102
ASSIGNOR: ASSIGNEE:
Mark P. Mitchell an _Erin R. Mitchell April L. Prevost and Patrick H. Prevost
I 1809 Alston Avenue
Fort Worth, TX 76109
8. Successors. Except as herein otherwise provided, this Assignment will be binding
upon and inure to the benefit of the parties, and their respective heirs, executors,
administrators, successors and assigns.
Assignment of Tax Abatement Contract#44715-CAI
From Mark P. Mitchell and Erin R. Mitchell to April L. Prevost and Patrick H. Prevost
2
9. Counterparts. This Assignment may be executed in multiple counterparts, each of
which, once executed, will be an original and fully-binding on the parties so
executing; and all such counterparts together constitute one and the same
agreement.
10. Binding Offer. This Assignment will be not be binding until executed and
delivered by all three parties.
IN WITNESS WHEREOF, the parties have executed this Assignment as of the
date first above written.
ASSIGNOR: Mark P. Mitchell
Name: Mark P. Mitchell
ASSIGNOR: Erin R. Mitchell
Y �
Name: rin R. Mitchell
�Npry MARLA GIBSON
®� NOTARY PUBLIC STATE Of TEXAS
STATE OF § MY COMM.EXP.3/5/2020
NOTARY ID 12891714.5
COUNTY OF §
BEFORE ME, the undersigned authority, on this day personally appeared Mark P.
Mitchell, known to me to be the person whose name is subscribed to the foregoing
instrument, and acknowledged to me that he executed the same for the purposes and
consideration therein expressed, in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this 3 day of
, 2018.
Notary Public in and for
the State of
Assignment of Tax Abatement Contract#44715-CAI
From Mark P. Mitchell and Erin R. Mitchell to April L. Prevost and Patrick H. Prevost
3
F(SNOTARY
MARLA GIBSON PUBLIC STATE OF TEXASSTATE OF \ § COMMTARY D 2P�3"5/202p
COUNTY OF § "
BEFORE ME, the undersigned authority, on this day personally appeared Erin R.
Mitchell, known to me to be the person whose name is subscribed to the foregoing
instrument, and acknowledged to me that she executed the same for the purposes and
consideration therein expressed, in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
2018.
Notary Public'!-Md for
the State of
ASSIGNEE: April L. Prevost
aalt�.)Aolr-�
N e: April L. Prevost
ASSIGNEE: Patrick H. Prevost
Name:Patrick H. Prevost
CITY OF FORT WORTH
Fernando Costa
Assistant City Manager
ATTEST: O. ..0 R T.2
� .
MaKays r * �`
City Secre TEXAS
_ OFFICIAL RECORD
CITY SECRETARY
w Fr WORTHO TX
Assignment of Tax Abatement Contract#44715-CA1 - - -From Mark P. Mitchell and Erin R. Mitchell to April L. Prevost and Patrick H. Prevost
4
APPROVED AS TO FORM AND LEGALITY:
Melinda Ramos
Sr. Assistant City Attorney
M & C: C-26333
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared
Fernando Costa, Assistant City Manager of the CITY OF FORT WORTH, a municipal
corporation, known to me to be the person and officer whose name is subscribed to the
foregoing instrument, and acknowledged to me that the same was the act of the said
CITY OF FORT WORTH, TEXAS, a municipal corporation, that he was duly authorized
to perform the same by appropriate Mayor and Council Communication of the City
Council of the City of Fort Worth and that he executed the same as the act of the said
City for the purposes and consideration therein expressed and in the capacity therein
stated.
GIVEN TUNDER MY HAND AND SEAL OF OFFICE this day of
, tet , 2018.
4'%ZV�erra,, TRIKINYA L. JOHNSON
IL ?: :.Notary Public,State of Texa
Notary Pullic 1 d for ="-' Q= Comm. Expires 04-17-2022
�ii'F of�`:
the State of Te S ,loftNotary ID 1238832-0
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared April L.
Prevost, known to me to be the person whose name is subscribed to the foregoing
instrument, and acknowledged to me that he executed the same for the purposes and
consideration therein expressed, in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
2018.
�y++� ANGEL TREMO
Notary blic in nd for ` * MY�EXP.0410 M1C STATE OF 9�
the State of TexasOF �
Assignment of Tax Abatement Contract#44715-C IOFFICIAL RECORD
m
From Mark P. Mitchell and Erin R. Mitchell to April L. Prevost and fi *�"y
5 FT.' olffm,TX
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Patrick H.
Prevost, known to me to be the person whose name is subscribed to the foregoing
instrument, and acknowledged to me that he executed the same for the purposes and
consideration therein expressed, in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this `day of
2018.
otary Public in and or '; IARA S DALE
the State of Texas Notory Public,State of Texas
'%EOf'�•'• Comm.
No
Notary ID 12835480-4
es 19
12835480 4
Assignment of Tax Abatement Contract#44715-CAI
From Mark P. Mitchell and Erin R. Mitchell to April L. Prevost and Patrick H. Prevost
6
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Official site of the City of Fort Worth,Texas
CITY COUNCIL AGENDA FORT�Ti1
COUNCIL ACTION: Approved on 7/16/2013
DATE: 7/16/2013 REFERENCE NO.: **C-26333 LOG NAME: 17NEZ1809ALSTON
CODE: C TYPE: CONSENT PUBLIC NO
HEARING:
SUBJECT: Authorize Execution of a Five-Year Tax Abatement Agreement with Shawn Fite for the
Construction of a Single Family Dwelling at 1809 Alston Avenue in the Magnolia Village
Neighborhood Empowerment Zone (COUNCIL DISTRICT 9)
RECOMMENDATION:
It is recommended that the City Council authorize the execution of a five-year Tax Abatement
Agreement with Shawn Fite for the construction of a single family dwelling at 1809 Alston Avenue in
the Magnolia Village Neighborhood Empowerment Zone, in accordance with the Neighborhood
Empowerment Zone Tax Abatement Policy and Basic Incentives.
DISCUSSION:
Shawn Fite (Property Owner), is the owner of the property described as Block H, Lot 12, Bellevue Hill
Addition, an Addition to the City of Fort Worth, Tarrant County, Texas, according to the plat recorded
in Volume 106, Page 39, of the Plat Records of Tarrant County, Texas, at 1809 Alston Avenue, Fort
Worth, Texas. The property is located within the Magnolia Village Neighborhood Empowerment Zone
(NEZ) and the Fairmount/Southside Historic District. On April 8, 2013, the Historic and Cultural
Landmarks Commission approved a Certificate of Appropriateness for the construction of a single
family residential structure at 1809 Alston Avenue.
The Property Owner plans to invest an estimated amount of$126,500.00 to construct an
approximately 2,489 square foot single family residence (Project). The Project will be sold as a
primary residence.
The Housing and Economic Development Department reviewed the application and certified that the
property owner and Project met the eligibility criteria to receive a NEZ Municipal Property Tax
Abatement. The NEZ Basic Incentives includes a five-year Municipal Property Tax Abatement on the
increased value of improvements to the qualified owner of any new construction or rehabilitation
within the NEZ.
Upon execution of the Agreement, the total assessed value of the improvements used for calculating
municipal property tax will be frozen for a period of five years starting January 2014. At this time,
Tarrant Appraisal District has the improvements on the property valued in the amount of
$400.00. The owner has planned to demolish the existing building on the property so the pre-
improved value for tax abatement purposes will be $0.00.
The municipal property tax on the improved value of Project after construction is estimated in the
amount of$1,081.58 per year for a total amount of$5,407.88 over the five-year period. However,
this estimate may differ from the actual tax abatement value, which will be calculated based on the
Tarrant Appraisal District appraised value of the property.
In the event of a sale of this property, the NEZ Tax Abatement Agreement may be assigned to a new
owner's first mortgagee or a new homeowner as their primary residence. All other assignments must
be approved by the City Council.
This property is located in COUNCIL DISTRICT 9.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that this action will not increase the total
appropriations of City funds.
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Cynthia Garcia (8187)
Robert Sturns (8003)
Additional Information Contact: Sarah Odle (7316)
ATTACHMENTS
1809 Alston Ave Map.pdf
1809 Alston Avenue Elevation.pdf