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HomeMy WebLinkAboutResolution 1547~. ~~~~, a<.. 1.' 1~ ReSOlutioa~ RESOLUTION NO. ~" WHEREAS, on December 29, 1989, a petition for creation of t'he 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 BX 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. C1TS OF FORT ~1/ORTS ~'` ~~ ~ (b) It is advisable to authorize the City of Fort Worth to exercise the powers granted by 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 andJor 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 improvements plan to provide technical assistance and consulting services .for the engineering, design, and development of neighborhood improvements including land- scaping, streetscapinq, 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 plan to determine the infrastruc- ture improvements necessary to support the land use plan. (3) An infrastructure~an 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 plan setting in which the District will property owners, the City, Department of Highways and tion. forth the manner coordinate with and with the State Public Transporta- CITY OF FORT NORTH N~'~ (6) A marketing and_advertising Pro4ram 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 1~ 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. CITY OF FORT NIORTH s ~~:,~ 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'assess_ed 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. on CITY OP FOET N1ORTH F y e Eft" .. (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) Ail 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 garties 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 not 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 pistrict Assessment .Act. ~I n CITY OF FORT NORTH .~~ ,. . {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 p.ubiic improvements and/or special supplemental services by assessing property owners. Adopted this Ill day of July, 1990. Mayor ATTEST: City secretary gppRDVED 9Y c~~r c®~N~~~ ' '~, ~} sut i~ r~9o ~~ n __ n ~ssy 58~satg ~ ~o ~~ CITY OF FORT NfORTH i