HomeMy WebLinkAboutResolution 1461``S~
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ATTACHMENT A
CITY OF FORT WORTH
COUNCIL RESOLUTION ND
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WHEREAS, American Airlines, Inc. has requested that the City
of Fort Worth enter into a Taz Abatement Agreement by and between
the City of Fort worth and Alliance Airport, LTD. and.
Hillwood/1358, LTD. for a 74.2176 acre tract of land (Tract 3.); and
WHEREAS, the City Council gave public notice and all affected
taxing units-were notified of the City of Fort worth's intent to
enter into the proposed tax abatement agreement; and
WHEREAS, upon full review and consideration of the
Agreement, and all matters attendant and related thereto, the City
Council is of the opinion that the terms and Condit-ions thereof
should be approved, and that the City Manager shall be authorized
to execute it on behalf of the City of Fort Worth;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS=
A. THAT the subject property that is described in the Agreement
is located within Tax Abatement Reinvestment Zone No. Two (~),
which was established by City Ordinance No. ________
'- 8.~, THAT the City Council finds that the improvements sought are
feasible and practical, and would be a benefit to the land and
'~ to the -City after the expiration of the tax abatement
"agreement.
C. THAT the City Counc
meet i ng -and of t he
'. Abatement Agreement,
Abatement Agreement,
affected taxing units
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it finds that written notice of this
CitY's' intent to enter into the Tax
and copies of `the attached proposed Tax
were mailed by certified mail to all
in accordance with state law_
D. THAT the City Council finds that the terms and conditions of
the Agreement and the property subject to the Agreement,
having been reviewed by the City Council of•the City and found.
to meet the Policy Statement for Tax .Abatement to Qualified
Commercial/Industrial Projects (6uidelines and Criteria)
established by City Resolution No. ____ and the provisions of
the Property Redevelopment and Tax Abatement Act, V.T.C.A.,
Tax Code, Sections 312.001 through 312.209, and found to be
acceptable and in the best interests of the City of Fort
Worth and its citizens, are hereby in all things approved.
CITY OF FOBT r1108TH
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_•<<•~~E. THAT the City Manager is hereby authorized to execute and
_•~; ~',ehivQr the Agreement and all other documents in connection
',..r therewith on behalf of the City of Fort Worth, substantially
according to the terms and conditions set forth in the
Agreement at the appropriate time and as approved by the City
Attorney or his assistant.
F. THAT this resolution shall take effect on the date of
.~ adoption.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH TEXAS, THIS
22ND DAY DF AUGUST, A.D., 1989.
Bob Bolen
Mayor
ATTEST:
APPROVED BY
--- --------------------------- CITY COUNCIL
City Secretary
AUG tt2 1989
APPROVED AS TO FORM: +"~..
Ci:r Sea,elaR o[ the
City et Fon Woe1L Texoe
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City Attorney
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' _ STATE OF TEXAS $ TAX ABATEMENT AGREEMENT
~~~' COUNTY OF DENTON $ BETWEEN THE
COUNTY OF TARRANT $ CITY OF FORT WORTH,
CITY OF FORT WORTH § ALLIANCE AIRPORT, LTD., AND
$ HILLWDOD/1358, LTD.
This Tax Abatement Agreement (the "Agreement") is entered
into by and between the City of Fort Worth, Texas ( the "City") ,
.r'~ a home rule city and municipal corporation, duly acting herein by
.~-., and through its City Manager, Alliance Airport, Ltd.
("Alliance"), a Texas limited partnership, duly acting by and
through Hillwood Holding Corporation, a Texas corporation, as its
General Partner, and Hillwoodf 1358, Ltd. ("Hillwood"), a Texas
limited partnership, duly acting by and through Hillwood Holding
Corporation, a Texas corporation, as its General Partner.
W I T N E S S E T H:
WHEREAS, on the day of August, 1989, the City Council
of the City o£ Fort Worth, Texas (the "City Council"), passed
Ordinance No. (the "Ordinance") establishing Tax
Abatement Reinvestment Zone No. (_), City of Fort
Worth, Texas (the "tone"), for commercial/industrial tax
abatement, es authorized by the Property Redevelopment and Tax
Abatement Act, V.T.C.A., Tax Code $§312.001 et seq., as emended
(the "Coda"); and
WHEREAS, on the 1st day of August, 1989, the City adopted a
Policy Statement on Tax Abatement to Qu el if ied Commercial/
Industrial Projects (Guidelines and Criteria) (the "Policy
Statement"), attached hereto as Exhibit "A" and made a part
hereof for all purposes; and
WHEREAS, the Policy Statement constitutes appropriate
guidelines and criteria governing tax abatement agreements to be
entered into by the City as contemplated by the Code; and
4 _ WHEREAS, the City has adopted a resolution stating that it
elects to be eligible to participate in tax abatement; and
WHEREAS, in order to maintain anfl enhance the commercial and
industrial economic and employment base of the Fort Worth area,
it is in the best interests of the taxpayers for the City to
enter into this Agreement in accordance with said Ordinance,
Policy Statement and Code; and
WHEREAS, the City Council Finds that the contemplated use of
the Premises (hereinafter defined), the contemplated improvements
(hereinafter defined) to the Premises in the amount as set forth
in this Agreement end the other terms hereof are consistent with
encouraging development of the Zone in sccordance with the
Durposes for its creation and ere 1n compliance with the
Ordinance, the Policy Statement and the guidelines and criteria
included therein, the Code anfl 511 other applicable laws; and
WHEREAS, a copy of this Agreement has been furnishefl, in the
manner prescribed by the Code, to the presiding officers of the
governing bodies of each of the taxing units in which the
Premises to be subject to the Agreement is located;
NDW, THEREFORE, the City for good and valuable
consideration, the adequacy and receipt of which is hereby
acknowledged, which consideration includes the expansion of
primary employment and the attraction of major investment in the
• Zone, which contributes to the economic development of Fort Worth
and the enhancement of the tax base in the City, end Alliance end
~°' Hillwood for good and valuable consideration, the adequacy and
receipt of which is hereby acknowledged, which consideration
includes the tax abatement set forth herein below, as authorized
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~ by the Code, as amended, do hereby contract, covenant and agree
~.? ~~ as follows:
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I.
GENERAL PROVISIONS
A. Alliance is the owner of that parcel of land described
on Exhibit "8" attached hereto and made a part hereof for all
purposes. Hillwood is the owner of that parcel of lend described
on Exhibit "B-1" attaehe6 hereto and made a part hereof for all
purposes. The two parcels described in Exhibits "8" and "B-1
"
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nre herein referred to jointly as the "Premises". The Premises
are located within the Zone. That portion o£ the Premises
described in Exhibit "H" is located within the City limits. That
portion of the Premises described in Exhibit "B-1" (the
Annexation Tract") is within the extraterritorial jurisdiction
o£ the City. Pursuant to 5312.206(c) of the Code, the Annexation
Tract shall be subject to all of the terms and conditions hereof
with respect to taxation by the City immediately upon annexation.
The Annexation Tract shall, for purposes of all other taxing
jurisdictions, be subject to the terms and conditions hereof upon
the execution bf this Agreement by the City, Alliance and
Hillwood, except as otherwise provided by law.
B. The Premises are not in an improvement project financed
by tax increment bonds.
C. This Agreement is entered into subject to the rights of
the holders of outstanding bonds of the City.
D. None of the property subject to abatement of taxes
under this Agreement is owned or leased by (i) any member of the
Fort Worth City Council, (ii) any member of the Fort Worth Plan
Commission, (iii) any member of the Fort Worth Zoning
Commission, or (iv) any member of the governing body of any
taxing units joining in or adopting this Agreement.
II.
f IMPROVEMENTS AND JO85
Alliance and Hillwood agree that, notwithstanding any other
terms of this Agreement, the construction on and within the
Premises of improvements (the "Improvements") that (e) consist
of (i) a new commercial building or buildings for aircraft
maintenance and support uses, (ii) paving, and (iii) facilities
and other improvements related to aviation uses, and that (b)
have a cost of, et a minimum, Fifty Million Dollars (SSO,ODO,ODO)
is a condition for the tax abatement provided for Herein. The
Socation of such Improvements shall be generally throughout the
Premises. A7lianee end Hillwood further agree that the creation
of 2,200 cumulative new jobs in connection with the operations of
American Airlines, Inc., a Delaware corporation ("American
Airlines"), on, or within the immediate vicinity of, the Premises
is a condition for the tax abatement provided for herein.
III.
PROPERTY SUBJECT TO TAR ABATEMENT,
RATE OF TAR ABATEMENT,
TERM OF TAR ABATEMENT AND RELATED PROVISIONS
A. A tsa abatement, as described Herein, shall be granted
in each year of the abatement period on (i) the Premises, (ii)
ell Improvements constructed on the Premises, and (iii) all
tangible personal property located on the Premises, excluding
inventory and supplies (except as otherwise provided in Paragraph
V D below), as follows:
(1) The Premises and all Improvements constructed
thereon shall be subject to abatement to the extent the
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value thereof, as reflected on the tax rolls of the Denton
,~. -_ and Tarrant Appraisal Districts (the "Tax Rolls") in each
°. ~ _ such year, exceeds the value thereof, as reflected on the
.- Tax Rolls, for the year in which this Agreement is eaecuted.
(2) A11 tangible personal property located on the
Premises, excluding inventory and supplies (except as
provided for in Paragraph D below), shall be subject to
abatement as provided herein other than tangible personal
property located on the Premises before the execution of
this Agreement. Alliance and Hiliwood represent and
warrant that there is no such tangible personal property on
the Premises as of the date of execution of this Agreement,
and the City acknowledges this representation as true and
correct.
B. The tax abatement rate under this Agreement shall be
one hundred percent (100$) of the value of the property described
herein as said value is reflected on the Tax Rolls.
C. The full fifteen (15) year tax abatement period
provided by law is hereby granted, except as otherwise provided
in Paragraph D below, and subject to the restrictions o£ Section
VI below. This period of abatement shall commence on January 1,
1993, uniess such commencement date is deferred et the sore
election of Alliance and Hiliwood or their assigns by notice 1n
writing to the City, such notice to be given on or before
December 1, 1992. Alliance and Hiliwood .may in such manner
annually defer the coxunencement data, but in no event beyond the
earlier to occur of the following dates: (i) January 1 of the
year following the year in which a certificate of occupancy is
issued by the City, in the event of the exercise by American
Airlines of the Option (hereinafter defined), for American
Airlines' principal facility on the Premises, or (ii) January 1,
1998. Notice of each deferral shall be given in writing on or
before December 1 of the year preceding the year in which the
abatement is otRerwise to commence.
D. Alliance and Hiliwood have granted to American
Airlines an option (the "Option"), by Option Agreement dated
1989, to aequi re the Premises. in the event of
' such acquisition, and effective on the date thereof, but in no
event sooner then September 1, 1989, all inventory and supplies
located on the Premises shall be subject to tax abatement
pursuant to the provisions of S.B. No. 1312 as passed by the
Legislature Of the Stets of Texas (the "Legislature"), Acts O£
the 71st Legislature, Regular Session, 1989, wherein the Code was
amended io add Subsection (e) to Section 312.206 thereof. As e
consequence of such amendment, all inventory and supplies located
on the Premises and owned or leased by American Airlines, as e
certificated air carrier, shall be subj act to nn abatement of one
hundred percent (1009) of the value thereof, as shown on the Tax
ROl ls, fOr 8 period Of tan (10) years. The commencement Of such
abatement period shall be determined as set forth in Paragraph C
above.
E. The parties hereto acknowledge that the Legislature Ras
passed S.3.R. No. 11 proposing that Article VIII of the Texas
Constitution be amended by adding thereto a new Section 1-j,
provifling for the exemption from ad valorem taxation of certain
tangible personal property described in said proposed amendment
(the "Amendment"). The Amendment is to be submitted to the
voters of the State of Teaas at an election to be held November
7, 1989. TRe parties hereto further recognize that the
Legislature Ras passed H.B. 2959 amending Chapter it Of the Gode
for the purpose, in part, of serving as enabling legislation for
the Amendment if it is approved by said voters, i.e., Sections 1,
2, 3 and 4 of H.B. 2959 are to be effective January 1, 1990, in
~~ • the event of such approval. It is the intent of the parties
_- hereto that the tax abatement provisions of this Agreement shall
be applicable to the inventory, supplies end other tangible
personal property located on the Premises only to the extent that
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ad valorem taxes on such inventory, supplies and other tnngibie
personal property located on the Premises are not, for the entire
~~ "° period of tax abatement hereunder, totally exempted as a
- consequence of the passage of the Amendment, the implementation
"~' of B.B. 2959, and the concurrence in such exemption by all
aff acted taxing jurisdictions.
F. Alliance an8 Hillwood shall have the right to protest
and contest any or all appraisals or assessments of the Premises,
or of the improvements thereon, or on tangible personal property,
and the tax abatement provided for herein for such property shall
be applied to the amount of taxes finally determined, ae a result
of such protest or contest, to be due for such property.
I G. The City speci£icelly acknowledges that, if the
Premises are otherwise qualified under applicable state law, the
execution of this Agreement shall not prevent the Premises from
qualifying as open-space land under Article VIII, Section 1-d-1
of the Texas constitution, Section 23.52 0£ the Code, or other
exemptions or special valuations available under the Code and
that, i£ the Premises are otherwise so qualified, the execution
of this Agreement will not result 1n any rollback taxes under
Section 23.55 of the Code.
IV.
FILING OF PLANS, CERTIFICATION OF
COSTS AND JOBS, CITY ACCESS TO PREMISES
AND.USE OF PREMISES AND IMPROVEMENTS
A. Construction plans for the Improvements constructed on
the Premises will be filed with the City. The plans as filed
shall be deemed to be incorporated herein by reference and made a
part hereof for all purposes.
B, written certifications will be filed with the City,
from time to time prior to the commencement of the Sax abatement
period, as described in Section III above, to certify the costs
of construction of the Improvements. Written certifications will
also be filed with the City certifying the creation of the
t.. cumulative new jobs specified in Section II herein. Such
~±~ certifications shall be in a form reasonably satisfactory to the
City and shall be deemed to be ineorporatefl herein by reference
and made a part hereof for all purposes.
C. At all times throughout the term of this Agreement, the
City shall, upon giving reasonable notice to Alliance end
Hillwood, have access to the Premises by City employees for the
purpose of inspecting same to ensure that the improvements are
constructed in accordance with the conditions of this Agreement;
provided, however, that such inspection shall not interfere with
the normal business operations of Alliance Or H111wood On the
Premises.
D. The Premises and Improvements constructed thereon at
all times shall be used 1n a manner ( i ) that is consistent xith
the City's Comprehensive Zoning Ordinance, ns emended, and (ii)
that 6uring the period taxes are abated hereunder, is consistent
with the general purpose of encouraging flevelopment or
redevelopment within the Zone.
V.
BREACH
In the event that the improvements are not constructed by
December 31, 1999, then, and only then, this Agreement shall
terminate and all taxes which otherwise would have been paid to
the City without the benefit of abatement under this Agreement
will become due to the City, subject to any and all lawful off-
sets, settlements, deductions, or credits to which either
. A~l lianee or Hillwood may be entitled. The' recovery of such
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taxes shall be the sole remedy of the City in the event of a
., .., default hereunder by either Alliance or Hillwood.
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"` VI.
SALE, ASSIGNMENT OR LEASE OF PROPERTY
Notwithstanding any other provisions of this Agreement, no
portion of the Premises, nor any Improvements or tangible
personal property located thereon, shall receive the abatement of
taxes provided for herein unless American Airlines acquires the
Premises by exercise of the Option. In such event, Alliance and
Hillwaod shall assign this Agreement to American, which
assignment shall not require City approval. in the event of such
exercise, the tax abatement provided herein and all attendant
rights and obligations under this Agreement shall vest in
American Airlines, and Alliance an8 Hillwood shall be fully
released from all obligations and liabilities arising under this
Agreement. Thereafter, the tax abatement provided herein shall
be assignable, as provided below, to each new owner or lessee of
all or a portion of the Premises and the Improvements and
tangible personal property located thereon, for the balance of
the term of this Agreement. American Airlines may make such
assignment or lease without City approval to (i) Alliance Airport
Authority, inc., a Texas non-profit corporation, or (11) any
parent, subsidiary or other affiliate of Acoeriean Airlines, or
any successor by operation of law of American Airlines, or of any
such parent, subsidiary or other affiliate, including, but not
limited to, any successor as a result of any merger,
consolidation, or other reorganization thereof (whether such
successor is a corporation, business trust, or any other type of
entity). Any assignment or lease to any party other than to one
of the foregoing entities shall require the prior written consent
of the City, which consent shall not be unreasonably withheld.
VII.
~~ NOTICE
All notices called for or require^ by this Agreement shall
be addressed to the following, or such other party or address as
either party designates in writing, by certified mail postage
prepaid or by hand delivery:
ALLIANCE AIRPORT, LTD.,
a Texas limited partnership
12377 Merit Drive, Suite 17D0
Dallas, Teaas 76251
Attention:
with a copy to:
Hughes b Luce
150D Momentum Place
1717 Main Street
Dallas, Teaas 75201
Attention: Mr. David A. Newsom
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HILLWOOD/1358, LTD.,
e Teaas limited partnership
12377 Merit Drive, Suite 1700
Dallas, Texas 76251
Attention:
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y:
. with a copy to:
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,a -. Hughes b Luce
1800 Momentum Place
' 1717 Main Street
Dallas, Texas 752D1
Attention: Mr. David A. Newsom
CITY OF FORT WORTH, TEXAS
City Manages
100D Throckmorton
Fort Worth, Texas 76102.
VIZI.
CITY COUNCIL AUTHORIZATION
This Agreement was authorized by Resblution of the City
Council approved at its Council meeting on the day of
August, 1989, authorizing the City Manager to execute this
Agreement on behalf of the City.
IX.
SEVERAHILITY
In the event any sectlon, subsection, paragraph,
subparagraph, sentence, phrase or word herein is held invalid,
illegal, or unenforceable, the balance of this Agreement shall
stand, shall be enforceable and shall be read as if the parties
intended at all times to delete said invalid section, subsection,
paragraph, subparagraph, sentence, phrase or word. In such event
there shall be substituted for su eh deleted provision a provision
as similar in terms and in effect to such deleted provision as
may be valid, legal and enforceable.
R.
ESTOPPEL CERTIFICATE
Any party hereto may request an estoppel certificate from
another party hereto so long as the certificate is requested in
connection with a bona fide business purpose. The certificate,
which if requested will be addressed to a suDSequent purchaser or
assignee of Alliance or Hillwood, shall include, but not
necessarily be limited to, statements that this Agreement is in
full force and e£f act without default, if such is the ease, the
remaining term of this Agreement, the levels of Tax Abatement in
effect, and such other matters reasonably regvestefl by the
party(ies) to receive the certificate.
RI.
ALLIANCE AND HILLWOOD STANDING
Alliance and Hillwood, as a parties to this Agreement, shall
be deemed proper and necessary parties in any litigation
questioning or challenging the validity of this Agreement or any
of the underlying ordinances, resolutions, or City Council
cations authorizing same, and Alliance end Hillwood shall De
entitled to intervene in said litigation.
XII.
_ APPLICABLE LAW
• This Agreement shall be construed under the laws of the
State of Texas.
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~' ~ XIIZ.
s `~ ~ s_ _ COUNTY BOUNDARY DISPUTE
ni
The parties hereto acknowledge the existence of a dispute
(the "Dispute") between Tarrant and Denton Counties oyez the
precise location of a portion of their common jurisdictional
boundary. It is not certain, as of the date of this Agreement,
whether or not the Premises, or a portion thereof, lie within the
area subj eat to the Dispute. In order to adequately provide for
the abatement of ad valorem taxes as provided herein, all
appropriate Tarrant County and Denton County taxing jurisdictions
have entered into this Agreement. Provided, however, that the
execution by such parties of this Agreement is without prejudice
to any such party with respect to the ultimate resolution of the
Dispute or their relative positions in such Dispute.
XIV.
RECORDATIDN OF AGREEMENT
A certified copy of this Agreement 1n recordable form shad
De recorded in the Deed Records of Denton and Tarrant Counties,
Texas.
EXECUTED this day of August, 1989, by the City.
EXECUTED this day of August, 1989, by Alliance.
EXECUTED this day of August, 1989, by Hillwood.
ATTEST:
CITY OF FORT WORTH, TEXAS
City Secretary
APPROVED AS TO FDRM:
Wade Adkins, City Attorney
By:
Douglas Harman, City Manager
ALLIANCE AIRPORT, LTD.,
a Texas limited partnership
8y: Hillwood Holfling Corporation,
a Texas corporation,
General Partner
Hy:
Name
Title:
•
HILLWODD/1358, LTD.,
a Texas limited partnership
By: Hillwood Holding Corporation,
a Texas corporation,
General Partner
Sy: _
Name:
Title:
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"*,' CITY MANAGER'S ACKNOWLEDGMEA"r
~~;~ `-`~ _ THE STATE OF TEXAS $
`"~~ COUNTY OF TARRANT §
BEFORE MIE, the undersigned authority, a Notary Public Sn and
for the State of Texas, on this day personally appeared Douglas
Harman, City Manager of the City of Fort Wortn, Taxes, 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 set of the Bald City of
Fort Worth, Texas, a municipal corporation, that he was duly
authorized to perform the same by appropriate resolution of the
City Council of the City of Fort Worth, end that he executed the
same as the act of the said City for purpose and consideration
therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day Of
1989.
Notary Public in and for the State
of Texas
My Commisslon Expires:
CORPORATE ACKNOWLEDGMENT
THE STATE OF TEXAS §
§
COUNTY OF TARRANT §
BEFORE ME, She undersigned authority, a Notary Public in and
for said State and County, on this day personally appeared
being the of
Hillwood Holding Corporation, a Texas corporation, General
Partner of Alliance Airport, Ltd., a Texas general partnership,
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 Hillwood Holding
Corporation as General Partner of Alliance Airport, Ltd., and
that he executed the same as the act of said corporation for
purpose and consideration therein expressed and in the capacity
therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
1989.
Notary Public in and for the State
of
My Commission Expires:
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-, ~-_ CORPORATE ACKNOWLEDGMENT
s '^~~ THE STATE OF TERAS §
_ $
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and
for said State and County, on this day personally appeared
being the o£
Hillwood Holding Corporation, a Texas corporation, General
Partner of Hillwood/1358, Ltd., a Texas general partnership,
known to me to be the person and officer whose name 1s
subscribed to the foregoing instrument and acknowledged to me
that the same was the act of the said Hillwood Holding
Corporation es General Partner o£ Hillwood/1358, Ltd., and that
he executed the same as the act of said corporation for purpose
and consideration therein expressed and in the capacity therein
stated.
GIVEN UNDER .MY HAND AND SEAL OF OFFICE this day of
1989.
My Commission Expires:
•
Notary Public in and foz the State
of
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` ~ ~ SIGNATORY PAGE
V - ,y .i ~•
County of Denton, Texas
,, STATE OF TEXAS $
$
COUNTY OF DENTON $
DENTON COUNTY, the undersigned taxing unit, to the extent of
its jurisdiction over the Premises, joins in the execution of the
Tax Abatement Agreement between the City of Fort Worth, Alliance
Airport, Ltfl. and Hillwood/1358, Ltfl., for the purpose of
granting abatement of ad valorem taxes in the manner and in
accordance with the terms set forth herein and authorizes this
page to be affixed to this Agreement.
This Agreement was authorized by the minutes of the
Commissioners Court of Denton County Texas, at its meeting on
the day of 1989, whereupon it was duly
determined by appropriate order that the County Judge would
execute the Agreement on behalf of Denton County, Texas.
COUNTY OF DENTON, TERAS
Vic Burgess, County Judge
Attest:
County Clerk
Approved as to Form:
District Attorney
ACKNOWLEDGMENT
STATE OF TEXAS $
S
COUNTY OF DENTON §
BEFORE ME, the undersigned authority, a Notary Public in and
for the State of Texas, on this day personally appeared Vic
Burgess, County Judge of the County of Denton, Texas, a
subdivision of the State of Texas, 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
County of Denton, Texas, a subdivision Of the State of Texas,
that he was duly authorized to perform the same by appropriate
order of the Commissioners Court of the County of Denton, Texas.
and that he executed the' same ns the act of the said County for
purpose and consideration therein expressed and in the capacity
therein stated.
GIVER' UNDER MY HAND AND SEAL OF OFFICE this
1969.
MY Commission Expires:
•
day of
Notary Public in and for the
State of Texas
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SIGNATORY PAGE
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.. ~~ Northwest Independent School District
.. STATE OF TEXAS §
COUNTY OF TARRANT §
NORTHWEST INDEPENDENT SCHOOL DISTRICT, the undersigned
taxing unit, having jurisdiction over the Premises, joins in the
execution of the Tax Abatement Agreement between the City of
Fort Worth, Alliance Airport, Ltd. and Hillwoofl/1358, Ltd., for
the purpose of granting abatement of ad valorem taxes 1n the
manner and in accordance with the terms act forth herein end
authorizes this page to be affixed to this Agreement.
This Agreement was authorized by appropriate resolution of
the Northwest independent School District Board of Trustees at
its meeting on the day of 1989, whereupon it
was duly determined that the Hoard President would execute the
Agreement on behalf of the Northwest independent School
District.
NORTHWEST INDEPENDENT SCHOOL
DISTRICT
Phoebe Dill, President,
Attest: Board of Trustees
Secretary, Northwest
Independent School District '~
Approved as to Form:
Attorney for NOrthwest
Independent School District
ACKNOWLEDGMENT
//
STATE OF TEXAS §
§
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Pub11c in
and for the State of Texas, on this day personally appeared
Phoebe Dill, President of the Northwest independent School
District Board of Trustees, known to me to be the parson and
officer whose name is subscribed to the foregoing instrument and
eeknowledged to me that the same was the set of the said
Northwest Independent School District, a corporate body politic,
that she was duly authorized to perform the same by appropriate
resolution of the Northwest Independent School District, and
that she executed the same as the act of the said Northwest
Independent School District for the purpose end consideration
therein expressed and in the capacity therein statefl.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this
1989.
day of
Notary Public in end for the
State of Texas
My Commission Expires:
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... SIGNATORY PAGE
_ r - ~: Tarrant County Water Control and
- Improvement District Number Dne
STATE OF TEXAS §
COUNTY OF TARRANT §
TARRANT COUNTY WATER CONTADL AND SMPROVEMENT DISTRICT NUMBER
ONE, the undersigned taxing unit, to the extent of Sts jurisdic-
~' tion over the Premises, joins in the execution of the Tax
Abatement Agreement between the City of Fort Worth and American
Airlines, Inc., for the purpose of granting abatement of ad
valorem taxes in the manner and in accordance with the terms set
Forth herein and authorizes this page to be affixed to this
Agreement.
This Agreement was authorized by appropriate resolution of
the Tarrant County Water Control and Improvement District Number
One Board of Directors at its meeting on the day of
1989, whereupon it was 8uly determined that the
Board President would execute the Agreement on behalf of the
Tarrant County Water Control and Improvement District Number One.
TARRANT COUNTY WATER CONTROL AND
IMPROVEMENT DI51'RI CT NUNIDER ONE
Attest:
Secretary, Tarrant County
Water Control and Improvement
District Number One
Approved as to Form:
Legal Counsel
Buford I. King, Board President
ACKNOWLEDGMENT
STATE OF TEXAS §
§
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in
an8 Eor the State of Texas, on this day personally appeared
Buford I. King, President o£ the Tarrant County Water Control and
Improvement District Number One Board of Directors, known to me
to be the person and officer whose name is subscribed to the
f oregoing instrument and acknowledged to me that the ssme wns the
set of the said Torrent County Wetez Control and Improvement
District Number One, that he vas 6u1y authorized to perform the
same by nppropriete resolution of the enid District, end that he
executed the same ns the act of the said Tarrant County Water
Control and Improvement District Nwober One for the purpose and
consideration therein expressed and in the capacity therein
stated.
GIVEN VNDEA MY HAND AND SEAL OF OFFICE this day of
1989.
Notary Public in and for the
State of Texas
My Commission Expires:
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~ SIGNATORY PAGE
_~t Tarrant County Junior College District
STATE OF TEXAS §
§
COUNTY OF TARRANT §
TARRANT COUNTY JUNIOR COLLEGE DISTRICT, the undersigned
taxing unit, to the extent of its jurisdiction over the Premises,
]oins in the execution of the Tax Abatement Agreement between the
City of Fort north, Alliance Airport, Ltd. and Millwood/1358,
Ltd., for the purpose of granting abatement of ad valorem taxes
in the manner and in accordance with the terms set forth herein
and authorizes this page to be affixed to this Agreement.
This Agreement was authorized by Board Minutes of the Board
of Trustees of Tarrant County Junior College District at its
Hoard meeting on the day of 1989, whereupon
it was duly determined that the Chairman would execute the
Agreement on behalf of the Tarrant County Junior College
District. '
TARRANT COUNTY JUNIOR COLLEGE
DISTRICT
Attest: Chairman,
board of Trustees
Secretary,
Tarrant County Junior College
District Board of Trustees
Approved as to Form:
.~
Legal Counsel
ACKNOWLEDGMENT
STATE OF TEXAS §
§
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and
for the State of Texas, on this day personally appeared
Chairman of the Board of Trustees of Tarrant
County Junior College District, known to me to be the person anfl
officer whose name is subscribed to the foregoing instrument and
acknowledged to me that the same was the act of the said Tarrant
County Junior College District, that he was duly authorized to
perform the same by appropriate resolution of the Tarrnnt County
Junior College District, end thnt he executed the same ns the act
of the said Tarrant County Junioz College District foz the
purpose and consideration therein expressed and in the capacity
therein etatefl.
GIVEN UNDER MY NAND AND SEAL OF OFFICE this day O£
1989.
Notary Publ ie in and for the
State of Texas
My Commission Expires:
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,. a SIGNATORY PAGE
.~~
-~ ~ Tarrant County Hospltal Dlstriet
STATE OF TEXAS §
§
COUNTY OF TARRANT §
TARRANT COUNTY HOSPITAL DISTRICT, the undersigned taxing
unit, to the extent of its jurisdiction over the Premises, joins
in the execution of the Tax Abatement Agreement between the City
of Fort Worth, Alliance Airport, Ltd. and Hillwood/1358, Ltd..,
for the purpose of granting abatement o£ ad valorem taxes in the
manner end in accordance with the terms set forth herein and
authorizes this page to be affixed to this Agreement.
'~,
This Agreement was authorized by the resolution of the
Hoard of Managers of the Tarrant County Hospital Dietrlet, at its
meeting on the day of 1989, whereupor. the
Chairman was duly authorized to execute the Agreement on behalf
of the Tarrant County Hospital District.
TARRANT COUNTY HOSPITAL DISTRICT
Chairman,
Attest: Hoard of Managers
Secretary, Tarrant County
Hospital District
Approved as to Form:
General Counsel
ACNNOWLEDGMEI.`T
STATE OF TEXAS $
§
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and
for the State of Texas, on this day personally appeared
Chairman of the Soard of Managers of the
Tarrant County Hospital District, a political subflivision of the
State of Texas, 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 Tarrant County
Hospital Dietrlet, that he was 8uly authorized to perform the
same by appropriate resolution of the Board of Managers of the
District, and that he executed the same ns the act of the snid
Tarrant County Hospital District for purpose and consideration
therein expressed and in the capacity therein statefl.
GIVEN VNDER MY HAND AND SEAL OF OFFICE this day of
1989.
Notary Public in and for the
State of Texas
My Commission Expires:
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. - SIGNATORY PAGE
_, f ,^~~; County of Tarrant, Texas
` STATE OF TERAS §
§
COUNTY OF TARRANT §
TARRANT COUNTY, the undersigned taxing unit, to the extent
of its jurisdiction over the Premises, joins in the execution of
the Tax Abatement Agreement between the CSty o£ Fort Worth,
Alliance Airport, Ltd. and Hillwood/1358, Ltd., for the purpose
~' of granting abatement o£ ad valorem taxes in the manner and in
accordance with the terms set Eorth herein and authorizes this
page to be affixed to this Agreement.
This Agreement was authorized by the minutes of the
Commissioners Court of Tarrant County Texas, at Its meeting on
the day of 1989, whereupon it xas duly
determined by appropriate order that the County Judge would
execute the Agreement on behalf of Tarrant County, Texas.
COVNTY OF TARRANT, TE7CA5
Roy English, County Judge
Attest:
County Clerk
Approved as to Form:
District Attorney
ACKNOWLEDGMENT
STATE OF TEXAS $
$
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and
for the State of Texas, on this day personally appeared Roy
English, County Judge of the County of Tarrant, Texas, a
subdivision of the State of Texas, known to me to De the person
and officer whose name is subscribed to the foregoing instrument
and acknowledged to me that the same was the act of the saiC
County of Tarrant, Texas, a subdivision of the State of Texas,
that he was duly authorized to perform the same by appropriate
order of the Commissioners Court of the County of Tarrant, Texas,
and that he eaeeuted the same ns the act of the said County for
purpose and consideration therein expressed and in the capacity
therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this
1969.
day of
Notary Public in and for the
State of Texas
My Commission Expires:
•
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EXHIBIT "A"
TO TAX ABATEMENT AGREEMENT
POLICY STATEMENT
.~
~QFTED HY THE PORT WORTH CITY CODNCIL ON AOODHT 1. 1989
CITY OF PORT WORTH POLICY STA?EMENT
ON TASC AHATEMENT TO
QOALIFIED CONlSERCIAL/ZNDDSTRIAL PROJECTS
(OOIDELINES AND CRITERIA)
GENERAL PORPOSE AND OHJECTTVES
The City of Fort worth is committed to the promotion of hi Ph quality
development in all pa:tc of the City, and to an ongoing improvement to
the quality of life for its citizens. Insofar as these objectives are
penernlly acrved by the enhancement of the tsz base and expansion and
diversification of the local economy, the Citp of Fort worth xill, on
a case-by-ease basis, give consideration to providing tax abatemer.:,
pursuant to the Property Redevelopment sad Tax Abatement Act,
v.T.C.A., Tax Code, 6eetions 312.001 through 312.2D9, as from time
to time emended, as a stimulation for •eonomic provth and
dive:stfication is Fo:t worth. Priozicy oonaideration will be given
to those projects which result in little or no additions] cost to the
city and/o: ysojecta vhi eh create greater than 1,000 new jobs. It is
the policy of the City of Fort worth that said eoaaideratioa will be
provided in accordance with the guidelines, criteria and yr oeedures
outlined ir. this document. Nothing herein shat] imply oz suggest the:
the City of Fort worth is under any obligati on to provide tax
abatement io say applicant. A31 applicants shall be considered on n
ease-by-ease basis.
According to Texas law, Pi op arty Rrdeve7 opmeai and Tax Abatement Act,
V .T.C.A., Tax Code, Chapter 312, the City of Fork worth may great tax
nbatemeat on the inersmental value of a parti eular property that is
improved pursuant to a specific development proposal which meets the
ecoaomie goals and objectives of ti.e City. The abatement will apply
only to the incremental iaeraase is vnl uatioa. The abatement vi]:
also apply to tangible personal property located is the reiavestmer.~
tone after the execution of an abatement agrssmaat, iaeludinp
invest cry and supplies of certificated air carriers (Note: Senate
8111 1312 and House Bill 20f3, Acta of the 71st Legislature, Regular
Sesaioa, 1989). Tax abatement will not bs ordinarily considered for
projects which would be develoyed without such iaeentives unless it
eaa be demonstrated that higher development standards or other
dsvalopmeat sad eoaaaunitY goals will be achieved through the use o!
the abatement.
Sneed on the general purpose and objectives and in compliance with the
intent and teats of the Tessa Property Rsdsval opmeat and Tax
Abatement Aet, the City of Fort worth will establish zeiavestment
zones for economic development purposes. Within the zeinvsstment zones
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there will be permitted tax abatement of the increase in value of
real and .taagiDle personal Droperty, including inventory and supplies
for certificated air carriers. Tax abatement will be offered only
within designated reinvastmaat sones and only to those industries
identified in 6eetion III, Definitions, "Eligible Iadustriez".
II. CRITERIA
Any request for tax abatameat shell be reviewed by the City staff for
recommendations to the City Council. Its deterauaation shall be
based upon an oval uati on of the following criteria and say other
relevant information and material, vhf eh each applicant x111 be
requested to address in narrative format. Any proposed project must
conform to the general guidelines specified below:
* Any request for tar abatement must involve a devel opmen: project,
excluding land, with either {i) a minimum incremental increase :n
value of 25 million dollars oz (ii) a minimum coat of 25 million
dollars.
• The project must make a substantial coatributi oa to devel opmer.t
efforts in the City by enhancing either additional development
activity or furthering redevelopment sad yreaervation activities
within spccial planning areas or be located in a special
development zone of the City such as nn Enterprise Zone.
The prcjec! must have high visibility, image impact or be o° e
si pnificantly higher level of deve7 opmeni qualify than that whit::
currently exists in the City.
* ^he project musk serve as a catalyst and prototype for additional
development of a higher standard or development of an addi:ior.al
industry xhieb has been identified to be an asset to the community.
e She project must generate n higher eoneentrntion of employment
potential than would otherwise be sehitved.
~ The project musi enhance property value and complement other land
uses is the project vicinity.
Applienti oas for tax abatement incentives should provide a written
narrative dctailiap bow the proposed project relates to the criteria
established above and tb• issues liz tad below. In addressing the
following issues, the applicant should indicate the appropriate time
frames in which the proposed evaats tad/or rea ultiaq impacts vi)1
occur, where applicable.
Additionally, it i^ understood the information provided will be, out
of aeceaaity, estimates Daly. The applicant should endesvor to
provide the most accurate estimates possible based upon available
information. The applicant may be requested by the City to describe
the logics/methodologi es utilized io supply aupportiaq doeumentatior..
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~(PL07NENT 2NPACT
• Number of new jobs created in Fort Worth.
Percentage of new employees which will
(n) come from outside the City of Fort Worth and
(b) from outside the 6tate of Tezaa
Tppea of jobs created.
Total projected annual yayroll of the newlp created jobs.
Identify and deac:ibe the kind, somber and location of all proposed
improvements to the property, as well as the land area and cost, and
discuss the development schedule of the proposed improvements. In
addition, City staff may request the square footage of the proposed
project.
Identify the inf:astrueture construction which will be required to
serve the proposed project and the estimated cost o'. said
coastruezloa.
FTerat. twna~m
Amount of real and tangible personal property vslue added to the tax
rolls.
-.-..+ Amount of direct tales tar generated.
Proposed project's eff eet or. existing businesses sad/or office
facilities.
Cost to the City of Fort Worth to provide municipal services to the
proposed project.
CONNDHITY IMPACT
Effect of the proposed project oa the local bousiag market.
Eaviroameatnl impact, if say, created by the project.
Compatibility of the proposed projecz with the City's comprehensive
.plan.
Rez oainq sad platting/replattinp required.
Impact on local school districts.
Impact on the County government.
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Impact on all other taxing entities
Impnet on the City of Fort Worth.
The criteria outlined in this section will be used by the City staff
to determine whether or not to recommend to the City Council that it
is in the best laterest of the C1 ty of Fort Worth and other affected
taxing entiti u that tax abatement be offered to a particular aDDli-
cant. Speclfie considerations will include the dagre• to which the
individual project furthers the goals and objectives of the community,
as well as the relative impact of the project on the eonanuaity.
III. DEFIWITI 0315
•
^Eligible Industries": Certain types of business investment shoe high
promise of creating nev jobs, new income and positive economic
spill-ove: effects beneficial to the City. As a result, tax
abatements will be eligible only to eertifiented air carriers
and industries in Mayor Group 45, "Tranaportati on by Air", as
described is the b,yyll~'L,_jnduttri al Clesaificati en Mnnual, U.S.
Dffiee of Management sad Budget, 19Bi. A copy of Major Group 45 of
the s7[ Nanunl Sa attached hereto and made a part hereto bq reference.
IV. CDIDELT!!ES
After following and eomp]yinp vith all statutory sad other require-
ments and after a determination is made that a tax abatement agreement
should be ante: c2 1Lt0 with the applicant, the vsl ue and term of the
abatement will be determined by the following guidelines:
MIAIM4M ELIGTSILITy REQDIREMFl1TS
1. The project must be an eligible industry as defined in Section
III. Def iniiions.
2. The investment in new facility (structural improvements to land)
must result in n structure os structures having either a minimum
added value of sweaty-five million dollars (excluding lead) or e
minimum cost of twenty-five million dollars (excluding lead).
., 3. The project must comply with al] criteria defined in Section iI.
above.
TA8 ASATEMEtt'1' LIKITASIONS
1. The rate of tax abatement for any tax year shall De 1001 of the
incremental increase is value of reel property and tangi b]e
pets onal property, including invest ory and supplies of the
certificated air ca:riera.
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2. In order to qualify for the (100\) tax abatement, the owner of the
eubjeci property must meet the follovinq minimum threshold
eligibility reQuirements:
a. Construct and eQUip vithia the saiavestment zone a structure
or etruciuree haviaq either a miaimum added vnlue of
tventp-five millioa dollars (exel udiaq land) or • mi aimum cost
of tveaty-five million dollars (excludiaq lead},
3. To determine if the protect meetc the minimum eligibility
reQUirement, the applicant will certify to the City Mnnaper's
Office the coat of the aev improvements for uhi ch the abatement :s
requested.
4. The ta: abatement period shall not a:coed fifteen (15) years.
5. Any tax abatement granted a project rill become eff eeiive :.
January 1 of the year foil owing the issuance of a Certificate c.
Deeupnney (CO) for the aev faeiliti ea unless othervise spacifi.:
is the tax abatement agreemeat. The total acreage of the pro)er•.
shell be assessed at lOD percent market valuation upon exeeut:~•
of the abatement agreement, unless othervise addressed in the •..~
abatement agreemeat.
6. If a project is not completed as specified in the tnx abaiem.:.•
agreement, the City has the right to cancel the abstemr-.•
a groomont and abated taxes that] become due to the Cify and otr-
affected taxing units as provided by law.
V. lItOCEDVAAL OOILLLINLS
Any pe~soa, partnership, organization, corporation or other er,~~.•.
desiring that the City of Fort Worth eoasider pzovi diaq tax abater...-•
to eneou:age locatio:. of operations vithia the city limits of F.:•
worth shall be repaired to comply vlth the follovinq proccdu:,.
guidelines. Nothing within these puideliaes 'shall imply or sugq.s•
that Fort North is under say obligation to provide tax nbatement
any amount oz value to say apPli cant.
Preliminary Aenlieati on Steen
A. Appliennt shall submit an "application for tax abatement".
8. App]ieaat shall addreae all e:iteria queatioas outlines in Sec;.
II above is lettcz format.
C. Applicaai shall prepare a survey map shoving the precise ]oea~.
of the property, all roadways xithin five hundred (S00) fee'
the site, all existiaq land uses and soainq within five hand -.
(500) feet of the alts and the kind, number sad location of +..
proposed improvements.
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D. City maY request epplieant to provide substantiation of the
economic feasibility of the overall project to assic: in
determining the long term benefit to the City.
D. R eemyl et e~legal deaeripliea of ebe properly shall bs provided.
F. Applicant shall complete all farms and information detailed in
items A through E above and submit them to the City Manager, City
of Fort worth, 100D Throckmorton, Fort worth, Tessa 76102.
Aoolieation Revi aw~Steoe
G. All information is the apDlienti oa psekage deLailad above will be
reviewed for completeness and accuracy. Additional information
may be requested •s needed.
H. She appliesti on may be distributed to the appropriate City
depa:tmenta for internal review and comments. Additional
information may be requested na needed.
I. Copies of the complete application peekape and staff comments will
be provided to the City Council.
Consideration of the Aoalj cation ,
J. The City Council will eoasi der the application at meetings
conducted pursuant to the Oper. Heeiings Aet sad the F:ope::y
Redevelopment and Tax Abatement Ac:. Additi oaal information may
• be requested as needed. ,
S. The City Council may eonside: a resolution calling s public heezing
to consider establishment of a reinvestment sore.
L. The City Council may hold the yublic hearing and determine xhether
the erection of the reinvestment soae would contribute to the
retention or expansion of primary employment of would attract
major investment in the soae and would ooat:ibute 20 the economic
development of the City.
M, The City Couaeil may eoaaider adoption of an ozdiataee designating
the area desc:ibsd in the lops] deacriptloa of the proposed
project as a commercial/industrial zeiavestment soae for tax
abatement.
R. The City Couaeil may consider adoption 'of a resolution which
approves the terms sad eoaditi oas of an •gr aamaat between the City
sad the applieaat, sad poveras the provision of the tax
abatement. At minimum, the agreement shall iaelude tl~e
folloviaq:
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1. General description of the project;
2. Amount of the tax abatement
3. Duration of the abatement;
4. Type, number, location and time table of planned
improvements; and
5. Any speeif is terms and conditions to be met by the applicant.
C. The governing bodies of nay affected independent school district,
Tarrant County yr Deatoa County, and all other spplicable taxing
units may consider ratifieati oa of and partieipati on in the tar
abatement agreement between the City of Fort worth and the
applicant.
Should the terms of the agreement not be satisfied, the tax
abatement shall be subject to oaaoellation as provided is the tax
abatement agreement, sad all abated taxes shall be paid to the
City of Fozt worth and all other taxing jurisdictions
parts eipatiaq is the tax abntemeat agreement as provided by Iew.
if a projee: granted a tax abatement ceases, to operate oz is no
longer in conformance with this policy statement, the tax
abatement agreement shall not be is eff eci for the period 'of time
during which the project is not operating or is no; n
eorformanee. The City of Fort worth may negotiste with the
recipient of a tax abatement to waive the recapture provisions or
to terminate the agreement.
Q. The City of Fort worth reserves the right to verify the
applicnr.t's credit worthiness priof to graatinq a tax ebatemer.t
and to review the finan einl condition of the project during tt,e
~:. term of the abatement. The City of Fort worth also reserves the
right fo: a representative to ineyeet the facilities of the
applicant during the term of the abntemeat and to verify the
irformatioa provided in the tax abntemeat agreement, Provisions
to this •ffee: shall b• inco:poraied into ih• agreement.
VI. EFFECT OF SALE, ASSIGNMENT OF LEASE OF PROPERTY
No tax abasement rights may be sold, assigned, or leased unless
otherwise specified in the tax abatement agreement. Any sale, assign-
ment or lease of the property which is not yermitted in the tax
abatement agreement results in a forfeiture of all tis abaiemen:
rights ns to the property sold, assigned or lensed, unless the C:ty
agrees to ratify the transfer.
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F.XHI BIT 'P'
- '.,. TO TAX ABATEMENT AGREEMENT
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PROPERTY DESCRZ PTI ON'
E.
(Alliance Tract)
HElNG a tree of land out of tDe A McDomld Storey, Abstrrta Na. 78ti, and being pen of a acct of
land conveyed m An;..,» pepnr4 Ltd as recorded m Vdame 243E Page 432 of the Deed Aecortls at
Iknton County, Tam, and being more peracalerly dnm'Led es ft>Doers:
COMtvwlENCENG at the northerly nmiDwest mina of said Altiatue Avpazt Ltd. tine acid tames being
oa the east rightsf-my line of the AT. d: SF. RaOroad (100 felt aide), acid rower oho behtg the
soumwett career o[ a ttsa of lead eowryed m Ht3WooN135$ Iai -aowu u Rawl 6 as recorded m
Vdt®e 2312, Page 471 of said Dud Rerords;
T'FIP3itE South 24 degree 16 minutia 13 seconds Wes; along said can lice, a tistaace m 22670 [tit
m a point far a emnex, said miner being the mtsrsecd® of sdd ens[ tine with tDe mouth rights[-way
Ime of proposed Eagle PvkwaY (120 leer wide);
THENCE Sottth 63 degrees 43 >amma 43 seconds Esss, tlepartmg raid east tim end along said south
tine, a dismnce of 1233 tea m the ptmmt d aavmme M ^ tamler nova m the k8 hnwtg a radius at
3210.00 feet;
THENCE Fnee•rlY, rondatting along said south lure and almg said Gave through a s>atral angle of 34
degrees 09 miauvs Z7 seconds, en arc dittaatz of 72136 lea m the pt>mr of oegeary;
THENCE North 80 degrees 06 miatnes a7 srmads Fast, rondnuhtg along said wutb line, a distanu of
Ti8434 fur to a pours for a tamer,
THENCE South 09 degras 33 nrmtttes 33 seconds Essa; departing said mouth tine, a d¢taatz of 3379.x0
fen m a poim for a miner,
THENCE South 60 degrees 02 minutes 26 seconds Eon, a disunu d 87886 fen m the POINT OF
BEGINNING, aitl ptsIDt being on the common brae between raid Altiaoa Airport. Ud aura aatl a aaa
of lead tsmveyed m Htllwootl/333$ )mown as Parcel T as ruordm Vohtmc 2532, Page 460 of said
Deed Awards;
THENCE. South 89 degrus 28 minmes 38 seconds Fac4 along said common fine, a ttismnm of 3T25
~ tea m e paum ma a ezaaa, said coma Defog on the atnthcriy tighter-moray tix of pmposetl Taaway
Tf 1~ (300 tea aide);
THENCE Som6 29 degteea 57 minutes 34 seconds weal departing said taa®on !me end abng raid
nmihelq titx, a tleuttm d 3&47 feet m the point of corvettes of a ca6ulor etavc m the right havipg
s radim of 1030.00 feet
THENCE Sovtharstrsy, continttnrg along said oonher3y tim a~ along said twss through a rsmaal
eagle d 6 tlegrees 30 mimes la seconds, an arc dsranoe of 12330 ket m a pdm fm a roroer,~
THENCE Noah 60 tbgec 02 inmates 26 seconds wen, departing said amtherly fine, a distancs o[
317.37 fan m tDe POWt OF BEGIIiNDiG AND CONI'AD4Dt1G 29~VJ sgtare feet m 0.6TSa aaa
of Dtad coma m less.
Page 1 of 2
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BEIIiG a tree of Lod tan at the G. Oremn Stsrvry, Ahsmatz Nn 972, and being pert of a tratz o[ Lod
emveyW m A-iaats Aiepm[, Ind. a ramded io Vohttoe 2453, Page 4u of the ]ked Rewrds of
]]mina Oottmy, Tetot, add ~ mate pattiwLry desatbea a tolioan:
COMAffNC:ING at the tttnthay notthavt turner td acid Amanoc Arport, Ind. tract said mater being
on the tam tigMbt+way ti>x ~ the A.T. @ S:F. Raihoad (100 fat wide), raid mrae aho being the
sovthwat a®c of a trap of Lad tsmvetad m fiiDwoadl135g, Im bsotrn u 'Pared 6 u remaded is
Vdttme Zsu Pt(ie m at acid ])aced Remttk
Tf>FNfF sasffi u aegtee 16 tttmmo is aamodt war, altmg aiid aui ban. a ttittaax of 22&70 fat
m a p®t tar a corner, aid ea®et being the loth of aid eau tine with the moth xigho-of+vay
tin a prvpotad Ey1e Parkway (320 testy widek
Tf~IE7QC[? Soath 65 degrw /3 tttiaate 45 aemttds Em, departing acid eat line and along aid msnb
>Le, a dirmnre of 3233 feet m the pain[ td emvame of a ehmlar mrve m the 3dt having a radios of
1210.00 feet:
TI~iCE Eartafq, antttmsrmg akmg aid math tine a>m aid eorve thrvagh a eeaeal angle of 34 degree
09 miame r aemady m are dotenee td 721.36 tat m the paast m tattgmcy,
TI•)FNCE Notth 80 degree 06 tote a7 aeetmds Bat ahmg aid aoasb line, a ditetanee of
218134 feet m a p®t fat a mttuz;
TfiENCE Somh 09 degree 53 taiama ]3 aemods fast departing raid tooth tine, a diaaaee aS 139.17
fen m the POINT OF BEGINNING, aid point being ®the eatntmn tine between acid Parcel 6 and
said Allieaoe Airport, Ind. user
Ti~J~1~ Sooth f19 degree 25 st~mes ~ aem>~ Fxt. akmg aid common line, a tlistattee d 10.x7
fat m a paoat fat • edsaa, raid Isaac being the tttsnheriy tstsrthwt wtaa of raid AOima Airpor
Ind traey aid rrnaer beiog the sotahaly aomhaat mmc of said Parcel 6, aid eorac tslm being on
the amaly Ime d a tan of had etmveyed m FlflhwoN1358, ktsoaa as Para) T as temrded in
Vtshttx 251; Page 160 of acid ]ked liemtdr
THENNf~ Sooth 0 depan 10 miame IS seedmds East, tLpartiag aid et»oa Hx between raid
AOiaa¢ Ahptat IstL Qtm and old Parcel 6 and alamg the common tine between said AOiuee Airpon.
lsd tract and rain Panel 7, a ttiaraaa of 6437 fen m a puma far a miner,
TFIl?i~ North 09 degrees 53 mitsam ]3 aeood West, depnrtiog aid eotmooa tine, a ttietana of
65.44 fen m the POINT OF BEGINNING APID ODNTAIIdIIiG 337 atloare fat a D.OOTJ acres o!
Lad mine a< Loa
Paac Z of Z