HomeMy WebLinkAboutResolution 1107
t .... ....: 7 i Y i1?
A ReMolutio .??.?
RESOLUTION DESIGNATING A DEVELOPMENT AREA
. UNDER THE DEVELOPMENT CORPORATIO\ ACT AND MAKING
FINDINGS AND REPRESENTATIONS IN RELATION THERETO
WHEREAS, the Texas Legislature has enacted Article 5190 6,
V A T.S (the "Act"), which provides, in part, for the establishment
of "Development Areas" so that industrial revenue bonds may be issued
to finance the construction of projects for commercial uses, and
WHEREAS, the Texas Economic Development Commission has issued
regulations concerning the establishment of "Development Areas", and
WHEREAS, a Development Area as defined in the Act means "an
area of a city that the city finds and determines, after a public
hearing, should be developed in order to meet the development objectives
of the city"; and
WHEREAS, that area (referred to herein as the "Property") described
in Exhibit "A" attached hereto contains vacant or rural property which
is not developed, but which the City desires to see developed, and
WHEREAS, it is the desire of this City Council to foster economic
development of the Property in order to create more jobs and broaden
the property tax base within the City of Fort Worth, Texas (the "City"),
and
WHEREAS, in accordance with said Act and Rules the required notice
of public hearing and public hearing on the establishment and designa-
tion of a Development Area have been given and held,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF FORT WORTH, TEXAS-
1. That the above recitals are true and correct,
2. That all findings made herein are made pursuant to
the provisions of the Act and the Rules of the Texas
Economic Development Commission relating to Indus-
trial Development Bond Financing, particularly those
Emergency Rules published as part of Chapter 107 in
the Texas Register on or about October 8, 1985,
regarding establishment of a Development Area;
13
i
[rri
CITY OF FORT NORTH
r
A Resoluflon
3 A metes and bounds description of the Propertv
to be designated as development area is attached
hereto as Exhibit "A" A map of the Property
with such adequacy as would permit its boundaries
to be properly located on the ground is attached
hereto as Exhibit "B"
4 The overall objectives of the Citv for
development of the Propert% are to foster
commercial, manufacturing and industrial
growth consistent with the City's zoning
ordinance(s) and anv Citv master plan(s),
to foster an increase in emplovment within
the Citv limits, and the increasing of the
City's ad valorem and sales tax base
40-
5. The Citv hereby finds and represents to the
Texas Economic Development Commission that
the availability of financing projects for
commercial uses under the Act will contribute
significantly to the development of the
Property
6 The type of projects for commercial uses
desired and authorized by the city to enhance
its development efforts in the development
area are any and all types of commercial
deve loptgents .
7. That the City represents that it will review
all project descriptions for approval of specific
projects for commercial uses in order to deter-
mine whether such projects are consistent with
the City's objectives for redevelopment of the
Development Area.
8. That the City's best estimates at the time of
the adoption of this Resolution of the City's
proposed public improvements to be made to the
Development Area are as follows
None identified as of this date
WHEREFORE, premises considered, and subject to the provisions of
the Rules that allow the Texas Economic Development Commission to notifv
the Citv to the contrary, the Citv herebv declares the Propertv to be
a Development Area
13
CM V OP FORT WOR=
A peso1uflof
That this Resolution shall take e'fect immediately upon its
adoption and the City Secretary is hereby directed to transmit a
certified copy of this Resolution to the Texas Economic Development
Commission
10
APPROVED
CITY COUNCIL
DEC 17 1995
City Secxetaxy of the
City of FQd
CITY of FORT NORTH
EXHIBIT A
J?
PROJECT DESCRIPTION
The Project consists of the construction of a building
consisting of approximately 10,168 square feet on
approximately 1.378 acres of land located at the northwest
corner of Scott Street at Taft, Fort Worth, Texas.
The Project will be owned and operated by Russell,
Turner & Laird, Attorneys, and will be used by the owners as
an office building.
•
EXHIBIT B
•
t
97
E. CARTER AVE.
C98
oZ , i
pF'1 LI s ITT • 1--l fOO-?
< U
Z a a a K n! ? ?
Z co
WILKIN50N 5T
.? 1