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AMENDMENT NO. 2 TO
AGREEMENT TO PARTICIPATE IN
TAX INCREMENT REINVESTMENT ZONE NUMBER THREE,
CITY OF FORT WORTH, TEXAS
This AMENDMENT NO. 2 TO PARTICIPATE IN TAX INCREMENT
REINVESTMENT ZONE NUMBER THREE, CITY OF FORT WORTH, TEXAS
("Amendment") is entered into by and between the CITY OF FORT WORTH,
TEXAS (the "City") and TARRANT REGIONAL WATER DISTRICT (��Taxing
Unit").
The City and Taxing Unit hereby agree that the following statements are true and
correct and constitute the basis upon which the City and Taxing Unit have entered into
this Amendment:
A. On December 19, 1995 the City Council of the City adopted Ordinance
No. 12324 designating certain real property in the downtown area of the City as Tax
Increment Reinvestment Zone Number Three, City of Fort Worth, Texas (the "Original
TIF"). Ordinance No. 12324 is incorporated herein by reference for all purposes.
B. On or about May 10, 1996, the City and Taxing Unit entered into an
agreement under which Taxing Unit agreed to deposit up to one hundred percent (100%)
of Taxing Unit's Tax Increment into the TIF District's Tax Increment Fund
("Participation Agreement"), as specifically provided in that Participation Agreement.
The Participation Agreement is a public document on file in the City Secretary's Office
as City Secretary Contract No. 21840.
C. On October 30, 2001, the City Council of the City adopted Ordinance No.
14839 expanding the Original TIF to include additional real property in the downtown
area of the City contiguous to that comprising the Original TIF (the "Expanded TIF").
Ordinance No. 14839 is incorporated herein by reference for all purposes.
D. After hearing a presentation by the City regarding the tentative plans for
the development or redevelopment of the Expanded TIF and an estimate of the general
impact of the Expanded TIF on property values and tax revenues, Taxing Unit's
governing body has adopted a Resolution or otherwise declared in a publ�c meeting,
following a vote of a majority of the governing body, the intent that Taxing Unit
contribute up one hundred percent (100%) of Taxing Unit's Tax Increment from property
in the Expanded TIF into the Tax Increment Fund, subject to any limitations set forth in
Exhibit "C" of the Participation Agreement, which intent the parties hereto wish to
reduce to writing through this Amendment.
NOW, THEREFORE, the City and Taxing Unit, for and in consideration of the
terms and conditions set forth herein, do hereby contract, covenant and agree as follows:
Amendment No. 2 to Tarrant Regional Water District
Participation Agreement re: Downtown TIF
Page 1
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1. The following terms provided in Section I of the Participation Agreement are
hereby amended to be defined as follows:
"TIF District" shall mean Tax Increment Reinvestment Zone Number
Three, City of Fort Worth, Texas, designated by City Ordinance No.
12324 on December 19, 1995 and expanded by City Ordinance No. 14839
on October 30, 2001, which Ordinances are incorporated herein by
reference for all purposes.
"Tax Increment Base" shall mean (i) the total appraised value of all real
property taxable by Taxing Unit and located in the Original TIF on
January 1, 1995 and (ii) the total appraised value of all real property
taxable by Taxing Unit and located in the Expanded TIF on January 1,
2001.
2. All other terms set forth in Section I of the Participation Agreement and their
respective definitions, as well as all other provisions and conditions of the Participation
Agreement, shall remain in full force and effect.
3. Capitalized terms used but not identified in this Amendment shall have the same
meanings assigned to them in the Participation Agreement.
4. In accordance with Section VIII of the Participation Agreement, a copy of this
Amendment will be provided to all TIF T�ing Units.
5. This Amendment contains the final written expression of the City and Taxing
Unit with respect to the subject matter hereof. This Amendment may be executed in
multiple counterparts, each of which shall be considered an original, but all of which
shall constitute one instrument.
EXECUTED to be effective October 30, 2001:
Amendment No. 2 to Tarrant Regional Water District
Participation Agreement re: Downtown TIF
Page 2
CITY OF FORT WORTH, TEXAS:
By: �� _=
Dale isseler
Assistant City Manager
Date: �-- /� "�- � �
TARRANT REGIONAL WATER
DISTRICT:
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Nan2e:
Title:
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Date: � t,�t c, r� u, ���v ��t�.� � f Fc-c (�' ��
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ATTEST: ATTEST:
BY� BY� .
Marty Hendrix Name:
City Secretary Title:
APPROVED AS TO FORM/LEGALITY:
By:
Peter Vaky
Assistant City Attorney
M&C: ; �i'
Amendment No. 2 to Tarrant Regional Water District
Participation Agreement re: Downtown TIF
Page 3
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