HomeMy WebLinkAboutOrdinance 19897-09-2011ORDINANCE NO. 19897 -09 -2011
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE CITY OF
FORT WORTH AS "TAX ABATEMENT REINVESTMENT ZONE
NUMBER SEVENTY -FIVE, CITY OF FORT WORTH, TEXAS ";
PROVIDING THE EFFECTIVE AND EXPIRATION DATES FOR THE
ZONE AND A MECHANISM FOR RENEWAL OF THE ZONE; AND
CONTAINING OTHER MATTERS RELATED TO THE ZONE.
WHEREAS, pursuant to the City Council's adoption on June 22, 2010 of
Resolution No. 3895 -06 -2010 (the "Tax Abatement Policy "), the City of Fort Worth,
Texas (the "City ") has elected to be eligible to participate in tax abatement and has
established guidelines and criteria governing tax abatement agreements entered into
between the City and various third parties, as authorized by and in accordance with the
Property Redevelopment and Tax Abatement Act, codified in Chapter 312 of the Texas
Tax Code (the "Code "); and
WHEREAS, the City Council desires to promote the development of the area in
the City more specifically described in Exhibit "A" of this Ordinance (the "Zone ") through
the creation of a reinvestment zone for purposes of granting a commercial /industrial tax
abatement, as authorized by and in accordance with Chapter 312 of the Code; and
WHEREAS, In -N -Out Burgers ( "Company ") proposes to construct a new
regional support facility at the corner of FAA Blvd. and Centreport Drive in the Centreport
Business Park. Company's proposal would include the expenditure of at least
$12,000,000.00 in real property improvements and $4,000,000.00 for non - inventory
taxable personal property to complete the regional support facility with offices, a
warehouse, and related functions in the Zone ( "Improvements "); and
WHEREAS, Company has applied for a real and personal property tax
abatement from the City in return for the construction and installation of the
Improvements in the Zone and compliance with certain other employment and spending
Page I 19897 -09 -201
Ordinance Designating Fax Abatement Reinvestment Zone Numher Seventy-Fivc,
City of Fort Worth, Texas
commitments that will foster economic development in the Zone and the City in general;
and
WHEREAS, on September 13, 2011 the City Council held a public hearing
regarding the creation of the Zone, received information concerning the Improvements
proposed for the Zone and afforded a reasonable opportunity for all interested persons
to speak and present evidence for or against the creation of the Zone ( "Public
Hearing "), as required by Section 312.201(d) of the Code; and
WHEREAS, notice of the Public Hearing was published in a newspaper of
general circulation in the City on September 2, 2011, which satisfies the requirement of
Section 312.201(d)(1) of the Code that publication of the notice occur not later than the
seventh day before the date of the public hearing; and
WHEREAS, in accordance with Sections 312.201(d)(2) and (e), of the Code
notice of the Public Hearing was delivered in writing not later than the seventh day
before the date of the public hearing to the presiding officer of the governing body of
each taxing unit that includes in its boundaries real property that is to be included in the
proposed Zone;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF FORT WORTH, TEXAS:
Page 2 19897 -09 -20
Ordinance Designating Tax Abatement Reinvestment Zone Number Seventy -five.
City of Fort Worth, Texas
Section 1.
FINDINGS.
That after reviewing all information before it regarding the establishment of the
Zone and after conducting the Public Hearing and affording a reasonable opportunity for
all interested persons to speak and present evidence for or against the creation of the
Zone, the City Council hereby makes the following findings of fact:
1.1. The statements and facts set forth in the recitals of this Ordinance are true and
correct. Therefore, the City has met the notice and procedural requirements
established by the Code for creation of a reinvestment zone under Chapter 312
of the Code.
1.2. The Improvements proposed for the Zone, as more specifically outlined in the
Public Hearing, are feasible and practical and, once completed will benefit the
land included in the Zone as well as the City for a period in excess of ten (10)
years, which is the statutory maximum term of any tax abatement agreement
entered into under the Chapter 312 of the Code.
1.3. As a result of designation as a reinvestment zone, the area within the Zone is
reasonably likely to contribute to the expansion of primary employment and to
attract major investment in the Zone that will be a benefit to property in the Zone
and will contribute to the economic development of the City.
Page 3 19897 -09 -201 1
Ordinance Designating Tax Abatement Rcimest ncm Zone Number Sc�enty -Five,
City of Fort Worth, Tcxas
Section 2.
DESIGNATION OF ZONE.
That the City Council hereby designates the Zone described in the boundary
description attached hereto as Exhibit "A" and made a part of this Ordinance for all
purposes as a reinvestment zone for purposes of granting a commercial /industrial tax
abatement, as authorized by and in accordance with Chapter 312 of the Code. This
Zone shall be known as "Tax Abatement Reinvestment Zone Number Seventy -Five, City
of Fort Worth, Texas." This project is eligible for commercial /industrial tax abatement
pursuant to Section 4.2 of the Tax Abatement Policy.
Section 3.
TERM OF ZONE.
That the Zone shall take effect upon the effective date of this Ordinance and
expire five (5) years thereafter. The Zone may be renewed by the City Council for one
or more subsequent terms of five (5) years or less.
Section 4.
SEVERABILITY.
That if any portion, section or part of a section of this Ordinance is subsequently
declared invalid, inoperative or void for any reason by a court of competent jurisdiction,
the remaining portions, sections or parts of sections of this Ordinance shall be and
remain in full force and effect and shall not in any way be impaired or affected by such
decision, opinion or judgment.
Section 5.
IMMEDIATE EFFECT.
Page 4 19897-09-2011
Ordinance Designating Tax Abatement Reinvestment Zone Number Seventy -Five,
City of Fort Worth, Texas
That this Ordinance shall take effect upon its adoption.
ADOPTED AND EFFECTIVE: September 13, 2011
APPROVED AS TO FORM AND LEGALITY:
By:
Peter Vaky
Deputy City Attorne
M &C: G -17375
Page 5 19897-09-2011
Ordinance Designating Tax Abatement Reinvestment Zone Number Seventy-Five,
City of Fort Worth, Texas
EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE
Being a 25.00 acre tract of land situated in the Vincent J. Hutton Survey, Abstract No.
681, Tarrant County, Texas and being a portion of 311.26 acres of land conveyed by deed
to Centreport Venture Inc., as recorded in Volume 10169, Page 1067 and Volume 13585,
Page 484, Deed Records, Tarrant County, Texas, and being more particularly described
as follows:
COMMENCING at a found 5/8 inch iron rod with Pate 5647 cap for corner, being the
most northerly point of a corner -clip with the south right -of -way line of F.A.A.
Boulevard (a variable width R.O.W.) and the west right -of -way line of Amon Carter
Boulevard (a 150 foot R.O.W.);
THENCE South 89 046'34" West, along said south right -of -way line, a distance of 481.00
feet to a point, for the POINT OF BEGINNING;
THENCE South 00013'26" East, leaving said south right -of -way line, a distance of
763.58 feet to a point for corner;
THENCE South 89 °52'16" West, a distance of 712.28 feet to a point for corner;
THENCE South 00 °07'44" East, a distance of 44.00 feet to a found 5/8 inch iron rod with
Pate cap for corner, said point being the northeast corner of Drill Site A2 as recorded in
Instrument No. D207309359 Deed, Records, Tarrant County, Texas;
THENCE South 89 °52'16" West, along the north line of said Drill Site A2, a distance of
639.29 feet to point for corner, and the beginning of a non - tangent curve to the left,
having a radius of 1281.00 feet and a central angle of 6 °22'01" and a long chord which
bears North 13 °55'05" West, 142.28 feet, said point being in the east right -of -way line of
future Centreport Drive (having a 256' R.O.W.);
THENCE along said future east right -of -way line and along said non - tangent curve to the
left, an arc distance of 142.35 feet to a point for corner, and the beginning of a reverse
curve to the right, having a radius of 991.50 feet, a central angle of 3 °50'06 ", and a long
chord which bears North 15 011'02" West, 66.35 feet;
THENCE continuing along said future east right -of -way line and along said reverse curve
to the right, an arc distance of 66.37 feet to a point for corner, and the beginning of a
reverse curve to the left having a radius of 608.50 feet, a central angle of 12 049'47 ", and a
long chord which bears North 19 040'52" West, 135.97 feet;
THENCE continuing along said future east right -of -way line and along said reverse curve
to the left, an arc distance of 136.25 feet to a point for corner, and the beginning of a
compound curve to the left having a radius of 1293.00 feet and a central angle of
19897 -09 -2011
5 °46'54" and a long chord which bears North 28 °59'12" West, 130.42 feet;
THENCE continuing along said future east right -of -way line and along said compound
curve to the left, an arc distance of 130.47 feet to a point for corner;
THENCE North 31 °52'39" West, continuing along said future east right -of -way line, a
distance of 20.39 feet to a point for corner, and the beginning of a tangent curve to the
right, having a radius of 90.00 feet, a central angle of 90 °00'00 ", and a long chord which
bears North 13 °07'21" East, 127.28 feet;
THENCE leaving said future east right -of -way line along said tangent curve to the right,
an arc distance of 141.37 feet to a point for corner, said point being in the south right -of-
way line of Future F.A.A. Boulevard (having a variable width R.O.W.);
THENCE North 58 °07'21" East, along said south right -of -way line, a distance of 22.40
feet to a point for corner, and the beginning of a tangent curve to the right, having a
radius of 1395.00 feet, a central angle of 31 °39'13 ", and a long chord which bears North
73 °56'57" East, 760.92 feet;
THENCE continuing along said south right -of -way line and along said tangent curve to
the right, an arc distance of 770.68 feet to a point for corner;
THENCE North 89 °46'34" East, continuing along said south right -of -way line, a distance
of 740.68 feet to the POINT OF BEGINNING and CONTAINING 1,089,062 square feet,
25.00 acres of land, more or less.
19897- 09 -20II
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 9113/20.11 Ordinance No. 19897 -09 -2011
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DATE: Tuesday, September 13, 2011
LOG NAME: 17RIZINNOUTBURGER
REFERENCE NO.: G -17375
SUBJECT:
Adopt Ordinance Designating Tax Abatement Reinvestment Zone No. 75, City of Fort Worth, Texas, for
Property Located at the Intersection of the Future Federal Aviation Administration Boulevard and
Centreport Drive in Centreport Business Park (COUNCIL DISTRICT 5)
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a public hearing concerning the designation of Tax Abatement Reinvestment Zone No. 75, City of
Fort Worth, Texas for property located at the intersection of the future Federal Aviation Administration
Boulevard; and
2. Adopt the attached ordinance that designates Tax Abatement Reinvestment Zone No. 75, City of Fort
Worth, Texas, pursuant to and in accordance with Chapter 312 of the Texas Tax Code.
DISCUSSION:
The proposed Tax Abatement Reinvestment Zone No. 75, City of Fort Worth, Texas (the Zone) is for
property located at at the intersection of the future Federal Aviation Administration (FAA) Boulevard and
Centreport Drive in the Centreport Business Park. In -N -Out Burgers is considering the construction of a
regional support facility in the Zone.
As required by Chapter 312 of the Texas Tax Code, a public hearing must be conducted regarding the
creation of a Tax Abatement Reinvestment Zone. The exact boundaries of the proposed Zone are
described in Exhibit A of the attached Ordinance. Notice of this hearing was delivered to the governing
body of each affected taxing unit and published in a newspaper of general circulation at least seven days
prior to this hearing.
The area encompassing the proposed Zone meets the statutory criteria for designation as a Tax
Abatement Reinvestment Zone pursuant to Chapter 312 of the Texas Tax Code in that the area is
reasonably likely, as a result of the designation, to contribute to the retention or expansion of primary
employment or to attract major investment in the Zone that would be a benefit to the property and that
would contribute to the economic development of the City. Further, the improvements sought in the Zone
are feasible, practical and would be a benefit to the land to be included in the Zone and to the City after
any tax abatement agreements which may be entered into have expired.
The term of the proposed Zone will be five years from the date of adoption of the attached ordinance and
may be renewed for periods not to exceed five years each.
Tax Abatement Reinvestment Zone No. 75 is located in COUNCIL DISTRICT 5.
Logname: 17RIZINNOUTBURGER Page I of 2
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on City
funds.
FUND CENTERS:
TO Fund /Account/Centers
CERTIFICATIONS:
Submitted for City Manager's Office by_
Originating Department Head:
Additional Information Contact:
FROM Fund /Account/Centers
Susan Alanis (8180)
Jay Chapa (5804)
Robert Sturns (8003)
Logname: 17RIZINNOUTBURGER Page 2 of 2