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HomeMy WebLinkAboutResolution 1666~. ie 1 of 6 ' ~QSO~L1f10E1 RESOLUTION NO. /~ WHEREAS, on July 12, 1990, the City Council of the City of Fort Worth, Texas, adopted a Resolution which authorized the establishment of the Fort Worth Improvement District No. 3 (the "District") as provided by state law; and WHEREAS, at 10:00 a.m. on September 11, 1990, the City Council held a public hearing concerning the following matters: (a) the general nature of the proposed improvements and/or services to be provided by the District during the 1990-1991 fiscal year; (b) the estimated cost of such improvements and/or services; (c) the proposed method of assessment; (d) the proposed apportionment of costs between the Improvement District and the City as a whole; and WHEREAS, the City Council adjourned such public hearing and adopted this resolution which: (a) makes findings concerning the nature and advisability of the improvements and/or services to be provided by the District during the 1990-1991 fiscal year, the estimated costs, the method of assessment, and the apportionment of costs between the District and the City, as a whole; (b) adopts the service, improvement and assessment plan which was recommended by the property owners of Fort Worth Improvement District No. 3 for the 1990-1991 fiscal year; and ,,.. (c) approves the budget, service, and assessment plan recommended by the property owners of Fort Worth Improvement District No. 3 for the years 1989- 1994, and authorizes the City Manager to sign a contract for payment to SENCA from available district funds for costs incurred to provide services as outlined in the plan. 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 September 11, 1990, hereby makes the following findings: (:1TY OF FORT FYORT~ Page 2 of 6 (a) It is advisable for the Fort Worth Improvement District No. 3 (the "District"} to undertake and provide improvements and/or services during the 1990-1991 fiscal year, i.e., October 1, 1990 through September 30, 1991. (b) The general nature of the special supplemental services to be provided by the district shall include: (1) A technical_improvements~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 plan to determine the future highest and best use of land along Lancaster and Vickery adjacent to the relocated I-30 freeway. (3) An infrastructure 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 plan 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. (6) A marketi~ 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; CITY OF FORT WORTH Page 3 of 6 (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 la of the assessments to reimburse the City for its expenses incurred in administration and operation of the district. (c) Exclusive of the expense of establishing the district, the estimated costs of the special supplemental services for the district during the first year of operation are $55,187 for planning, marketing and management. Of the $55,187 costs, $23,851 will be paid from assessments and $31,336 will be paid by SENCA advance funding. $65,000 of the annual assessment will be used to reimburse SENCA for expenses incurred in establishing the district. (d) The cost of improvements and/or services shall be determined in accordance with the service, improvement and assessment plan heretofore approved and adopted by the City Council on July 12, 1990. The updated service, improvement and assessment plan for the 1990-1991 fiscal year which was recommended to the City Council by the property owners of CITY OF FORT ~i/0RT$ Page 4 of 6 the District is also. hereby approved and adopted. A copy of such plan is on file with the City Secretary of the City of Fort Worth. Although such plan shows projected revenues in 1992, 1993 and 1994 from tax increment financing, adoption of this resolution by the City Council does not constitute a commitment by the City of Fort Worth to create a reinvest- ment zone for tax increment financing. (e) The SENCA invoice dated 9/7/90, in the amount of $183,928 for services provided Fort Worth Improvement District No. 3 representing costs incurred from July 1, 1989 to June 30, 1990 is approved (subject to verification of such costs from supporting documents by the City Manager), to be paid from annually collected assessments as shown in the annually approved budget, service and assessment plan. (f} The boundaries of the district are: The area 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 was approved and adopted by the City Council on July 12, 1990 for a period of not less than five years. The plan would be reviewed and updated annually by the City Council to determine 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 CITY OF FORT iA/ORTH ~• 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. {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 supple- mental 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. ~dTY ,OF FORT WORTH Page 6 of 6 (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 District Assessment Act. (k} The district will exist for four years immediately following the date of publication of notice of establishment 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 City Secretary is hereby directed to give notice of authorization for the district to provide improvements and/or services during the 1990-1991 fiscal year by publishing a copy of this Resolution once in a newspaper of general circulation in the City of Fort Worth. 3. The City Manager is hereby authorized to execute a contract with SENCA to provide improvements and/or services in the district under this Resolution. and the service plan for the 1990-1991 fiscal year hereby adopted by the Council. 4. 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 September, 1990. Mayor ATTEST: City Secretary APPROVED BY CITY COUNCIL SEP T] I'+qqD ~1 •~' ,_..._. ~ of ~e c'"~ ..vow. Tm~ cs.. CFPY OF FOST N-ORTS