HomeMy WebLinkAboutResolution 1544~ Resolution/'
RESOLUTION NO. ?.S~
WHEREAS, on December 29, 1989, a petition for creation of the
Fort Worth Improvement District No. 3 was filed with
the City Secretary of the City of Fort Worth and
subsequently presented to the City Council of the City
of Fort Worth; and
WHEREAS, on January 9, 1990, the City Council found and
determined that such petition included sufficient
signatures and met other requirements of Sections
372.002 and 372.005 of the Public Improvement District
Assessment Act (V.T.C.A., Local Government Code,
Section 372.001, et seq.) (the "Act"}; and
WHEREAS, the City Secretary of the City of Fort Worth gave
written notice and notice by publication that a public
hearing would be held by the City Council on April 17,
1990, at 10:00 a.m., in accordance with Section 372.009
of the Act; and
WHEREAS, the City Council held such public hearing on April 17,
1990, and directed that a resolution be placed on the
agenda and closed such hearing; and
WHEREAS, this Resolution authorizes establishment of the.
district and the exercise of the powers granted by the
Act, makes findings concerning improvements and/or
services to be provided by the district and authorizes
the City Secretary to publish notice of establishment
of the district;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS:
1. The City Council, after duly considering the evidence
and testimony presented at the public hearing held on April 17,
1990, hereby makes the following findings:
(a) It is advisable to establish a public improve-
ment district under the Public Improvement District
Assessment Act (V.T.C.A., Local Government Code,
Section 372.001, et seq.), which district shall be
known as the Fort Worth Improvement District No. 3.
O
CITY OF FORT WORTH
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Page 2 of 6
(b) It is advisable to authorize the City of Fort
Worth to exercise the powers granted 6y the Public
Improvement District Assessment Act in connection with
the establishment of a public improvement district,
including utilizing the district to reimburse costs
related to establishing the district and to undertake
improvement projects and/or services that confer a
special benefit on property in the district and the
levying and collecting of special assessments on pro-
perty in the district, based on the benefit conferred
by the improvement projects and/or services, to pay the
costs of such projects and/or services.
(c) It is advisable for special supplemental
services to be undertaken and provided by the district.
(d) The general nature of the special supplemental
services to be provided by the district shall include:
(1) A technical im~rovements~an to provide
technical assistance and consulting services
for the engineering, design, and development
of neighborhood improvements including land-
scaping, streetscaping, fountains, lighting,
signage, streets and access, sidewalks,
pedestrian malls, off-street parking facili-
ties, drainage improvements, parks and other
similar projects permitted by State Law.
(2) A land use_~lan to determine the infrastruc-
ture improvements necessary to support the
land use plan.
(3) An inf_rastructure_plan to determine the
infrastructure improvements necessary to
support the land use plan.
(4) A cost estimate and financial plan to implem-
ent the land use plan and infrastructure plan,
including a feasibility and economic benefit
analysis and. report concerning the creation of
a tax reinvestment zone and the use of tax
increment financing.
(5) A coordination clan setting forth the manner
in which the District will coordinate with
property owners, the City, and with the State
Department of Highways and Public Transporta-
tion.
C1TY OF FORT ~1-OHTH
(6} A marketing and advertising program to:
(i) develop a marketing and advertising
brochure describing plans for develop-
ment of the District and promoting
business relocation and investment;
(ii} distribute the marketing and advertising
brochure to, among others, firms
specializing in business relocation
services, businesses considering reloca-
tion, the economic development staff of
the City, the Fort Worth Chamber of
Commerce, Downtown Fort Worth, Inc., and
the real estate brokers, developers and
investors;
(iii) make initial and follow-up contacts in
pursuit of business relocations and
other development of, and investment in,
the District; and,
(iv) generate positive publicity for the
District.
(7) A management program to provide for the estab-
lishment, administration, management, and
operation of the District.
The special supplemental services will be a
supplement to the standard existing level of city
improvements and/or services and will constitute
an added increment to the improvements and/or
services normally provided to the taxpayers
generally. The City will continue to furnish or
pay for standard improvements and/or services in
the district at the same level as they would be
provided to the taxpayers generally. The City
will be paid an annual administrative fee equal to
l~k of the assessments to reimburse the City for
its expenses incurred in administration and
operation of the district.
(e) Exclusive of the expense of establishing the
district, the estimated costs of the special supple-
mental services for the district during the first year
of operation are $95,969 for planning, marketing and
management.
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Page 4 of 6
The cost of constructing additional improvements
and/or providing additional supplemental services
in subsequent years will be determined in the
service plan to be adopted and amended from time
to time by the City Council.
(f) The improvement district consists generally of
property along Lancaster and along Vickery between
Henderson and I-35W as more particularly described in
the Boundary Description and the Boundary Map attached
hereto as Exhibit A and incorporated herein by
reference.
(g) The method of assessment is:
(1) A service plan will be approved and adopted by
the City Council for a period of not less than
five years. The plan would be reviewed and
updated annually by the City Council to deter-
mine the annual budget for improvements and/or
services within the district.
(2) The cost of special supplemental services will
be assessed against real property within the
District according to the value of the pro-
perty, including improvements, as determined
annually by the City Council, provided that
(i) During the initial four-year term of the
District, annual assessments against
property in the District, including
improvements, shall not exceed an amount
equal to $0.43 per $100 of the value of
such property and improvements as deter-
mined by the City Council.
{ii) Property, including improvements, within
existing or proposed transportation
rights-of-way (e.g., for public streets,
highways, and railroads) are deemed to
receive no special benefit from, and
will not be assessed for, the special
supplemental services.
(iii) Property, including improvements, that
will be taken or condemned because of
their proximity to proposed transporta-
tion rights-of-way are deemed to receive
no special benefit from and will not be
assessed for, the special supplemental
services.
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Page 5 of 6
(iv) Ground lease interests, including
improvements, where the unexpired term
of the lease is less than 15 years are
deemed to receive no special benefit
from, and will not be assessed for, the
special supplemental services.
(3) The City Council of the City of Fort Worth
will be authorized to establish by ordinance
reasonable classifications and formulas for
the apportionment of costs between the City
and the property to be assessed and to
establish the methods for assessing special
benefits for various classes of improvements
and/or services.
(h) The apportionment of costs between the
improvement district and the city as a whole shall be:
(1) All of the cost of an improvement and/or
service shall be paid by special assessments
against real property and structures or other
improvements thereon in the district.
(2} The City as a whole will continue to provide
standard improvements and services to the
district at the same level as they are
provided to the taxpayers generally.
(i) The probable maximum benefits to be conferred
on each tract in the district because of the special
supplemental services will be greater than the amount
of the assessment against such tract and the owners
thereof. The private sector parties who are selected
to administer the district will provide evidence at
each benefit hearing on which the City Council can base
its decision to levy assessments.
(j) The area to be assessed may not include any
property within the area described in paragraph (f)
unless an additional hearing is held to include the
property and notice for the hearing is given in the
same manner as notice under Section 372.009 of the
Public Improvement District Assessment Act.
CITY OP FORT NIORTA
Page 6 of 6
(k) The district will exist for four years imme-
diately following publication of notice of establish-
ment of the district unless property owners in the
district petition the City Council for re-establishment
of the district, or unless the district is sooner
terminated as provided by law.
2. The Fort Worth Improvement District No. 3 is authorized
to be and is hereby established as a public improvement district
under the Public Improvement District Assessment Act, in accord-
ance with the above findings as to the advisability of the
special supplemental services. The district shall be subject to
all of the terms, conditions, limitations and reservations
contained in such findings.
3. The City Secretary is hereby directed to give notice of
authorization for establishment of the district by publishing a
copy of this Resolution once in a newspaper of general circula-
tion in the City of Fort Worth Such authorization shall take
effect and the district shall be deemed to be established
effective upon the publication of such notice.
4. Actual implementation of services by the district may not
begin until after the 20th day following the date the authoriza-
tion for the district takes effect.
5. The district shall be a complete alternative to other
methods by which the City of Fort Worth may finance public
improvements and/or special supplemental services by assessing
property owners.
Adopted this ~~ day of June, 1990.
Mayor
ATTEST:
City Secretary
APPRDVED BY
CITY_ COUNCIL
JUN 26 199Q
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