HomeMy WebLinkAboutContract 35442 Ci Y "'—rmETAR
COIAI PI-QCT NO.
AGREEMENT TO PARTICIPATE IN
TAX INCREMENT REINVESTMENT ZONE NUMEER NINE,
CITY OF FORT WORTH,TEXAS
(TRINITY RIVER VISION TIF)
This AGREEMENT TO PARTICIPATE IN TAX INCREMENT
REINVESTMENT ZONE NUMBER NINE, CITY OF FORT WORTH, TEXAS
("Agreement") is entered into by and between the CITY OF FORT WORTH, TEXAS
(the "City") and TARRANT REGIONAL WATER DISTRICT (the "Water
District").
The City and the Water District hereby agree that the following statements are
true and correct and constitute the basis upon which the City and the Water District have
entered into this Agreement:
A. On December 9, 2003, the City Council of the City ("City Council")
adopted City Ordinance No. 15797 designating certain real property located north and
west of the downtowii Central Business District and in the vicinity of the Trinity River as
Tax Increment Reinvestment Zone Number Nine, City of Fort Worth, Texas, (the "TIF
District"). The TIF District is inforinally known as the "Trinity River Vision TIF."
Ordinance No. 15797 is hereby incorporated by reference for all purposes. City
Ordinance Nos. 15797, 16005, and 16805-2-2006 are hereby incorporated by reference
for all purposes and collectively attached hereto as Exhibit"A".
B. Designation of the TIF District will cause development of property in and
around the TIF District to occur that would not occur otherwise in the foreseeable future.
As a result of designation of the TIF District, it is intended that a bypass channel shall be
created for the Trinity River to reduce central city flooding threats. It is anticipated that
other complementary development in the TIF District will follow. This overall
development will result in increased tax revenues and other public benefits for both the
City and the Water District.
C. Pursuant to Section 311.013(f) of the Texas Tax Code, the Water District
is not required to pay any tax increment into the tax increment fund of the TIF District
unless it enters into an agreement to do so with the City. The Water District wishes to
enter into such an agreement with the City.
NOW, THEREFORE, for and in consideration of the and conditions set forth
herein, the sufficiency of which is hereby aclmowledged, the City and the Water District
do hereby contract, covenant and agree as follows:
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Water District Participation Agreement ,'
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1. INCORPORATION OF RECITALS.
The parties hereby agree that the recitals set forth above are true and correct and
form the basis upon which they have entered into this Agreement.
2. DEFINITIONS.
In addition to any terns defined in the body of this Agreement, the following
terns shall have the definitions ascribed to them as follows:
Act means the Tax Increment Financing Act, as amended and as codified as
Chapter 311 of the Texas Tax Code.
Captured Appraised Value in a given year means the total appraised value of all
real property taxable by the Water District and located in the TIF District for that year
less the Tax Increment Base.
Protect Plan means the project plan for the development and/or redevelopment of
the TIF District, as adopted by the TIF Board and approved by the City Council of the
City on January 19, 2006 by City Ordinance No. 16768-01-2006, attached hereto as
Exhibit "B".
TIF Board means the governing board of directors of the TIF District appointed
in accordance with Section 311.009 of the Act and pursuant to Section 4.4 of this
Agreement.
TIF District means the certain real properties and boundaries as described in City
Ordinance No. 15797 and as amended by Ordinance No. 16005, and Ordinance
No.16808-2-2006.
Tax Increment in a given year means the amount of property taxes levied and
collected by the Water District for that year on the Captured Appraised Value of real
property taxable by the Water District and located in the TIF District.
Tax Increment Base means the total appraised value as of January 1, 2003 of all
real property taxable by the Water District and located in the TIF District.
Tax Increment Fund means that fiend created by the City pursuant to Section
311.014 of the Act and Section 6 of City Ordinance No. 15797,which will be maintained
by the City as a separate and individual interest-bearing account into which all revenues
of the TIF District will be deposited, including (i) deposits of Tax Increment by the City
and by other taxing units with jurisdiction over real property in the TIF District,including
the Water District and (ii)all accrued interest earned on the cash balance of the fund.
Water District Participation Agreement
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TIF Board means the governing board of directors of the TIF District appointed
in accordance with Section 311.009 of the Act and pursuant to Section 4.4 of this
agreement.
TIF Ordinance means City Ordinance No. 15797 adopted December 16,2003, as
amended by Ordinance No. 16005 on.Tune 15, 2004 and Ordinance No.16808-2-2006 on
February 7, 2006, collectively attached hereto as Exhibit "A".
3. DEPOSIT OF TAX INCREMENT.
Pursuant to a Resolution drily adopted by the governing body of the Water District,
which Resolution is attached hereto as Exhibit "C" and is hereby made a part of this
Agreement for all purposes, and specifically subject to Section 4 of this Agreement, the
Water District hereby agrees to deposit each year during the term of the TIF District,
beginning with the 2004 tax year, eighty percent (80%) of the Water District's Tax
Increment into the Tax Increment Fund. The calculation to determine the dollar amount of
the Water District's Tax Increment to be deposited shall be made in accordance with the
Water District's Increment Financing Policy and such deposits shall be made in accordance
with the City's standard administrative procedures, but only following receipt of a bill from
the City that outlines the City's calculation of the amount of the deposit that is required for
that year. The Water District shall have up to one calendar year fiom the execution date of
this Agreement in which to make its deposit for tax increments due from tax years 2004
and 2005.
4. LIMITATIONS ON TAX INCREMENT DEPOSITS AND USE OF FUNDS.
This Agreement is based on the following conditions, and the City agrees and
acknowledges the Water District's right to enforce the conditions contained herein by
injunction or any other lawful means in the event one or more of such conditions are not
satisfied.
4.1 Amendment to TIF Ordinance
The TIF Ordinance designates the boundaries, the eligible real properties
for the calculation of Tax Increment for the TIF District and the specific
participation level of the City. All amendments to the TIF Ordinance shall be
approved by the TIF Board prior to approval by the City Council. If the City
Council approves an amendment to the TIF Ordinance different from the
amendment approved by the TIF Board, the Water District shall suspend payment
into the TIF Fund as described in Section 3 until the amendment is approved by
the governing body of the Water District.
4.2. Certain TIF District Project Costs Excluded
The Tax Increment deposited into the Tax Increment Fund by the Water
District shall be used to pay Project costs for purposes as set forth and identified
in the Project Plan. All TIF Fund allocations, including but not limited to any
Water District Participation Agreement
re:Trinity River Vision TIF
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management and administrative costs, must be approved by the TIF Board in
accordance with the Project Plan. If the Project Plan is amended by approval of
the TIF Board and such amendment serves only to (i) redirect funds from one
Project cost category to another Project cost category already provided in the
Project Plan and does not increase the overall total project costs of the Project
Plan, or (ii) provide for the addition of the financing costs for those projects
already provided in the Project Plan, then such amendment will not require the
approval of the governing body of the Water District. If the Project Plan is
amended by the TIF Board to (i) add any projects not outlined in the current
Project Plan or (ii) increase the overall total Projects costs except as provided
above, and such amendment is approved by the City Council, the Water District
shall suspend payment into the TIF Fund as described in Section 3 until the
amendment is approved by the governing body of the Water District as an
amendment to this Agreement.
4.3. TIF District:Expansion.
As defined,the TIF District shall include real properties located within the
boundaries as described in the TIF Ordinance. If the TIF District is expanded,the
Water District is not required to deposit into the Tax Increment Fund any Tax
Increment generated from properties in the expanded area unless participation in
the expanded boundary area is approved by the governing body of the Water
District as an amendment to this Agreement. Additionally, the Tax Increment
deposited into the Tax Increment Fund by the Water District may not be used for
any permissible Project costs in any portion of the expanded area of the TIF
District unless approved by the governing body of the Water District as an
amendment to this Agreement.
4.4. TIF Board Membership
During the term of the TIF District, the TIF Board shall consist of at least
three (3) Tarrant County representatives, (3) Water District representatives, one
(1) Tarrant County Hospital District representative, one (I) Tarrant County
College District representative and one (I) Fort Worth Independent School
District representative. The governing bodies of Tarrant County, the Water
District, Tarrant County College and the Fort Worth Independent School District
shall provide the names and addresses of their designated representative(s) to the
City Council of the City for appointment to the TIF Board. It is understood that at
least two (2) of the representatives named by the Water District must be qualified
voters of the City of Fort Worth or owners of property located within the TIF
District. The City Council of the City shall appoint the designated
representative(s) to the TIF Board. If the designated representatives are not
appointed to the TIF Board or the TIF Board does not consists of the number of
representatives stated above, the Water District shall suspend payment into the
TIF Fund as described in Section 3 until such time that the requirements above are
satisfied.
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5. TERM.
This Agreement shall take effect on the date as of which both parties have executed
it and shall expire upon expiration or termination of the TIF District,which currently is the
earlier of(i) December 31, 2024 or an earlier termination date designated by ordinance
subsequently adopted by the City Council of the City or (ii) the date on which all project
costs of the TIF District, including, but not limited to, tax increment bonds and interest on
those bonds,have been paid or otherwise satisfied in full.
6. TIF FUND ACCOUNTING.
No later than July 1 of each year following execution of this Agreement, the City
shall provide the Water District with an annual accounting of the funds deposited to and
disbursed from the Tax Increment Fund, including accrued interest. After all project
costs of the TIF District have been paid or at the time of the expiration of this Agreement,
any funds remaining in the Tax Increment Fund following the final annual accounting by
the City shall be paid to those taxing units participating in the TIF District in proportion
to each taxing unit's share of the total amount of Tax Increment deposited into the Tax
Increment Fund.
7. RESPONSIBILITY FOR ACTS.
The City and the Water District shall each be responsible for the sole negligent acts
of their officers, agents, employees or separate contractors. In the event of joint and
concurrent negligence of both the City and the Water District, responsibility, if any, skull
be apportioned comparatively withh the laws of the State of Texas, with the understanding
that neither party waives any governmental powers or immunities or any other defenses
available to each individually.
8. NOTICES.
All written notices called for or required by this Agreement shall be addressed to the
following, or such other party or address as either party may subsequently designate in
writing,by certified mail.,postage prepaid, or by hand delivery:
City: Water District:
City of Fort.Worth ►ac ra •anal ��5$c
Attn: City Manager A • G
1400 Throckmorton
Fort Worth,TX 76102 ►�o i
Water District Participation Agreement
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Ivith copies to:
the City Attorney and
Economic/Community Development
Director at the same address
9. NO WAIVER.
The failure of either party to insist upon the performance of any tern or provision
of this Agreement or to exercise any right granted hereunder shall not constitute a waiver
of that party's right to insist upon appropriate perfonnance or to assert any such right on
any future occasion.
10. VENUE AND JURISDICTION.
If any action, whether real or asserted, at law or in equity, arises on the basis of
any provision of this Agreement, venue for such action shall lie in state courts located in
Tarrant County, Texas or the United States District Court for the Northern District of
Texas—Fort Worth Division. This Agreement shall be construed in accordance with the
laws of the State of Texas.
11. NO THIRD PARTY RIGHTS.
The provisions and conditions of this Agreement are solely for the benefit of the
City and the Water District and are not intended to create any rights, contractual or
otherwise,to any other person or entity.
I.2. FORCE MAJEURE.
The parties shall exercise every reasonable effort to meet their respective
obligations as set forth in this Agreement, but shall not be held liable for any delay in or
omission of performance due to force majeure or other causes beyond their reasonable
control, including, but not limited to, compliance with any government law, ordinance or
regulation, acts of God, acts of omission, fires, stripes, lockouts, national disasters, wars,
riots, material or labor restrictions, transportation problems and/or any other cause
beyond the reasonable control of either party.
13. INTERPRETATION.
In the event of any dispute over the meaning or application of any provision of
this Agreement, this Agreement shall be interpreted fairly and reasonably, and neither
more strongly for or against any party,regardless of the actual drafter of this Agreement.
Water District Participation Agreement
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14. CAPTIONS.
Captions and headings used in this Agreement are for reference purposes only and
shall not be deemed a part of this Agreement.
15. ENTIRETY OF AGREEM[Ei NT.
This Agreement, including any exhibits attached hereto and any documents
incorporated herein by reference, contains the entire understanding and agreement
between the City and the Water District as to the matters contained herein. Any prior or
contemporaneous oral or written agreement is hereby declared null and void to the extent
in conflict with any provision of this Agreement. Notwithstanding anything to the
contrary herein, this Agreement shall not be amended unless executed in writing by both
parties and approved by the City Council of the City in an open meeting held in
accordance with Chapter 551 of the Texas Government Code.
16. COUNTERPARTS.
This Agreement may be executed in multiple counterparts, each of which shall be
considered an original, but all of which shall constitute one instrument.
EXECUTED as of the later date below:
CITY OF FORT WORTH, TEXAS: TARRANT REGIONAL WATER
DISTRICT:
By: By: _.
Dale Fisseler Name=
A44i Assistant City Manager Victor W.Henden
Board President
Date: [�--7- Date:
ATTEST: ATTEST: `
B By:
Hendrix me:
City SecretaryTitle:
Water District Participation Agreement �,{ jt'�, r:= :;�';_•' '
re:Trirtity River Vision TIF
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APPROVED AS TO FORMILEGALITY:
By:
P r Yaky
Assistant City Attorney
M&C: .
Water District Participation Agreement
re:Trinity River Vision TIF
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RESOLUTION OF THE BOARD OF DIRECTORS
OF THE TARRANT REGIONAL WATER DISTRICT
AUTHORIZING PARTICIPATION IN TAX INCREMENT
REINVESTMENT ZONE NUMBER NINE
WHEREAS, on December 9, 2003, the City Council of the City of Fort Worth
designated certain real property located north and west of the downtown Central Business
District and in the vicinity of the Trinity River as "Tax Increment Reinvestment Zone
Number Nine, City of Fort Worth, Texas" (the "TIF District")pursuant to City Ordinance
No. 15797 and as authorized by Chapter 311 of the Texas Tax Code; and
WHEREAS, the City Council of the City of Fort Worth amended City Ordinance
No. 15797 by City Ordinance Nos. 16005 and 16808-2-2006 dated June 15, 2004 and
February 7,2006,respectively; and
WHEREAS, on September 15, 2005, the board of directors of the TIF District
adopted a project and financing pian for the TIF District in accordance with Section
311.011(a) of the Texas Tax Code; and
WHEREAS, on January 19, 2006, the City Council of the City of Fort Worth
approved the project plan and financing plan for the TIF District pursuant to City
Ordinance No. 1.6768-01-2006 in accordance with Section 311.011(d) of the Texas Tax
Code; and
WHEREAS, the Board of Directors of the Tarrant Regional Water District
("TRWD") has determined that it is in the best interests of TRWD and the public served
by TRWD to enter into an agreement with the City of Fort Worth whereby TRWD will
contribute to the tax increment fund of the TIF District in accordance with Section
311.013(f) of the Texas Tax Code; and
WHEREAS, the Board of Directors of TRWD has determined that it is in the
best interests of TRWD and the public served by TRWD to limit TRWD's contributions
to the tax increment fund of the TIF District to eighty percent (80%) of the property taxes
levied and collected by TRWD on real property located in the TIF District for any year,
less the total appraised value of such real property on January 1, 2003 (the "Captured
Appraised Value").
NOW,THEREFORE,be it resolved by the Board of Directors of TRWD that:
1. TRWD shall deposit each year during the term of the TIF District,
beginning with the 2004 tax year, eighty percent (80%) of TRWD's
property taxes levied and collected on the Captured Appraised Value
of real property taxable by TRWD and located in the TIF District into
the tax increment fund of the TIF District (the "TRWD Tax
Increment").
2. The President of the Board of Directors of TRWD should be and is
hereby authorized to enter into the Agreement to Participate in Tax
Increment Reinvestment Zone Number Nine, City of Fort Worth,
Texas in the form attached hereto as Exhibit "l" subject to the terms
and conditions set forth therein and as set forth in this resolution and
as otherwise agreed by TRWD and the City of Fort Worth.
3. Within one (1) year from the date of execution of said Agreement,
TRWD shall deposit into the tax increment fund of the TIF District the
TRWD Tax Increments due from tax years 2004 and 2005.
4. The President of the Board of Directors of TRWD should be and is
hereby authorized and directed to enter into and execute such
agreements and undertakings as may be reasonably necessary to
implement the foregoing resolution.
ADOPTED AND APPROVED this 15th day of May,2007.
TARRANT REGIONAL WATER DISTRICT,a
Water Control and Improvement District
By. -C r , ��I�� �rl�fs— �
Victor W. Henri on
President,Board of Directors
ATTEST:
Z�
recretary,
R. Stevens
Board of Directors
Exhibit "A"
ORDINANCES DESIGNATING TIF DISTRICT
ORDINANCE NO.
AN ORDINANCE DESIGNATING A CERTAIN CONTIGUOUS
GEOGRAPHIC AREA IN THE CITY OF FORT WORTH AS "TAX
INCREMENT REINVESTMENT ZONE NUMBER NINE, CITY OF
FORT WORTH,TEXAS"; CREATING A BOARD OF DIRECTORS
FOR THE ZONE; PROVIDING THE EFFECTIVE AND
TERMINATION DATES FOR THE ZONE; ESTABLISHING A
TAX INCREMENT FUND FOR THE ZONE; .AND CONTAINING
OTHER MATTERS RELATED TO THE ZONE.
WHEREAS, the City Council desires to promote the development of a certain
contiguous geographic area in the City, which is more specifically described in Exhibit
"A" of this Ordinance (the "Zone"), through the creation of a new reinvestment zone as
authorized by and in accordance with the Tax Increment Financing Act, codified at
Chapter 311 of the Texas Tax Code; and
WHEREAS, on or about November 12, 2003 the City provided written notice to
the governing body of each taxing unit that levies real property taxes in the Zone of(i)
the City's intent to establish the Zone; (ii) a description of the boundaries of the Zone;
(iii) the City's tentative plans for development of the Zone; and (iv) an estimate of the
general impact of the Zone on property values and tax revenues; and
WHEREAS, the governing body of each county and school district that levies
real property taxes in the proposed Zone has waived the requirement imposed by Section
311.003(e) of the Texas Tax Code that the City provide such written notice at least sixty
(60) days prior to the date of the public hearing conducted pursuant to Section 311.003(c)
of the Texas Tax Code; and
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Ordinance Designating Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas
WHEREAS, the City has prepared a preliminary financing plan for the Zone and
provided a copy of that plan to the governing body of each taxing unit that levies taxes on
real property in the Zone, as required by Section 311.003(b)of the Texas Tax Code; and
WHEREAS, in accordance with Section 311.003(f) of the Texas Tax Code, on
November 25, 2003 the City made a single formal presentation to the governing body of
each county and school district that levies real property taxes in the Zone, as agreed to by
such governing bodies,which presentation, among other things, included (i) a description
of the proposed boundaries of the Zone; (ii) the City's tentative plans for development of
the Zone; and (iii) an estimate of the general impact of the Zone on property values and
tax revenues; and
WHEREAS, on December g, 2003 and December 15, 2003 the City Council held
a public hearing regarding the creation of the Zone and its benefits to the City and to
property in the Zone and afforded a reasonable opportunity for(i) all interested persons to
speak for or against the creation of the Zone, its boundaries or the concept of tax
increment financing and (ii) owners of real property in the Zone to protest inclusion of
their property in the Zone, as required by Sections 311.003(c) and (d) of the Texas Tax
Code; and
WHEREAS, notice of the public hearing was published in a newspaper of
general circulation in the City on December 2, 2003, which satisfies the requirement of
Section 311.003(c) of the Texas Tax Code that publication of the notice occur not later
than the seventh day before the date of the public hearing;
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Ordinance Designating Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH,TEXAS:
Section I.
FINDINGS.
That after reviewing all information before it regarding the establishment of the
Zone and after conducting a public hearing regarding the creation of the Zone and its
benefits to the City and to property in the Zone and affording a reasonable opportunity
for (i) all interested persons to speak for or against the creation of the Zone, its
boundaries or the concept of tax increment financing and (ii) owners of real property in
the Zone to protest inclusion of their property in 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 set
forth in Chapter 311 of the Texas Tax Code for creation of a reinvestment zone
thereunder.
1.2. Development of the Zone as a whole will not occur solely through private
investment in the foreseeable future.
1.3. Improvements in the Zone, including, but not limited to,those previously outlined
to the City Council and the governing bodies of all other taxing units that levy
real property taxes in the Zone, will significantly enhance the value of all the
taxable real property in the Zone and will be of general benefit to the City.
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Ordinance Designating Tax Increment Reinvestment Zoete Number Nine, ti; �.t�� ���1
City of Fort Wortb,Texas � 'ti',
�, ��u, TES,
1.4. The area within the Zone is contiguous.
1.5. Portions of the land within the Zone are located within the City's North Enterprise
Zone, which was designated by the State of Texas pursuant to and in accordance
with Chapter 2303 of the Texas Government Code. Therefore, as provided by
Section 2303.507(1) of the Texas Government Code and Section 311.0031 of the
Texas Tax Code, designation of these areas of the Zone by the State of Texas as
an enterprise zone also constituted designation of these areas as a reinvestment
zone under Chapter 311 of the Texas Tax Code without additional hearing and
procedural requirements of the City Council.
1.6. Among other things, the area within the Zone includes land that is strategically
located along the Clear Fork and West Fork of the Trinity River adjacent to and
north of the City's downtown, but that has been underutilized because of(i) the
risk of flood, which risk could be alleviated through the construction of a
hydraulic darn and bypass channel, and (ii) the existence a large, unsightly power
plant that is outdated. Taking all facts into consideration, the area within the
Zone, whether or not located in the North Enterprise Zone, substantially impairs
and arrests the sound growth of the City, retards the provision of housing
accommodations and constitutes an economic liability and a menace to the public
health and safety because of(i) a substantial number of substandard, deteriorated
and deteriorating structures; (ii) the predominance of inadequate sidewalk and
street layouts; (iii) faulty lot layout in relation to size, adequacy, accessibility and
usefulness; (iv) unsanitary and unsafe conditions; (v) the deterioration of site and
other improvements; and (vi) conditions that endanger life and property by fire or
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Ordinance Designating Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas
other cause. Therefore, the area within the Zone meets the criteria for designation
of a reinvestment zone and satisfies the requirements of Section 311.005 of the
Texas Tax Code.
1.7. No more than ten percent (10%) or less of the property in the Zone is used
currently for residential purposes, as specified by Section 311.006 of the Texas
Tax Code.
1.8. According to the most recent appraisal roll of the City, the total appraised value of
all taxable real property in the Zone and in existing reinvestment zones in the City
does not exceed fifteen percent (15%) of the total appraised value of taxable real
property in the City and in industrial districts created by the City, if any_
1.9. The Zone does not contain more than fifteen percent (15%) of the total appraised
value of real property taxable by any county or school district.
1.10. Designation of the Zone is consistent with the City Council's desire to encourage
the improvement and redevelopment of areas in proximity to the Trinity River and
the downtown area of the City, and it is contemplated that the board of directors
of the Zone and the board of directors of Tax Increment Reinvestment Zone
Number Three, City of Fort Worth, Texas (Downtown TIF) will work together to
implement this objective by use of, among other things, the powers granted
pursuant to Section 311.010(b) of the Texas Tax Code for projects adjacent to the
Trinity River and in the downtown area of the City.
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Ordinance Designating Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas
Section 2.
DESIGNATION OF ZONE.
That the City Council hereby designates the Zone described in the boundary
description and depicted in the map, both attached hereto as Exhibit"A" and made a part
of this Ordinance for all purposes, as a reinvestment zone pursuant to and in accordance
with Chapter 311 of the Texas Tax Code. This reinvestment zone shall be known as
"Tax Increment Reinvestment Zone Number Nine, City of Fort Worth, Texas."
Section 3.
ZONE BOARD OF DIRECTORS.
That a board of directors for the Zone ("Board") is hereby created. The Board
shall consist of eleven(11) members who shall serve for terms of two (2) years each. Of
these eleven (11) members, each taxing unit other than the City that levies taxes on real
property in the Zone may, but is not required to, appoint one (1) member to the Board.
After each taxing unit other than the City designates to the City either the name of the
member that the taxing unit wishes to appoint or the fact that the taxing unit wishes to
waive its right to appoint a member, the City Council shall appoint whatever number of
members are necessary to fill the remaining positions on the Board. Such members may
be members of the City Council. As provided by Section 311.010(e) of the Texas Tax
Code and subject to the provisions of this Ordinance, the Board shall have all legally
permissible powers granted to it by Chapter 311 of the Texas Tax Code. Among such
powers, the Board may enter into agreements that the Board considers necessary or
convenient to implement the Zone's project and financing plans, including, but not
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Ordinance Designating Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas
limited to, agreements that dedicate revenue from the TIF Fund (as defined in Section 6
of this Ordinance) to pay the costs of providing affordable housing or areas of public
assembly in or out of the Zone. Notwithstanding anything to the contrary herein, the
Board shall not be authorized to (i) issue bonds; (ii) impose taxes or fees; (iii) exercise
the power of eminent domain; or (iv) give final approval to the Zone's project and
financing plans.
Section 4.
TERM OF ZONE.
That the Zone shall take effect upon the adoption of this Ordinance and terminate
on the earlier of(i) December 31, 2028 or an earlier termination date designated by an
ordinance adopted after the effective date of this Ordinance or (ii) the date on which all
project costs,tax increment bonds and interest on those bonds have been paid in full.
Section 5.
DETERMINATION OF TAX INCREMENT BASE.
That the tax increment base for the Zone, as defined by Section 311.012(c) of the
Texas Tax Code, shall be the total appraised value of all real property in the Tone taxable
by a taxing unit for the year 2003, which is the year in which the Zone was designated as
a reinvestment zone.
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Ordinance Designating Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas
Section G.
TAX INCREMENT FUND.
That a tax increment fund for the Zone (the "TIF Fund") is hereby established.
The TIF Fund may be divided into additional accounts and sub-accounts authorized by
resolution or ordinance of the City Council. The TIF Fund shall consist of (i) the
percentage of the tax increment, as defined by Section 311.012(a)of the Texas Tax Code,
that each taxing unit which levies real property taxes in the Zone, other than the City, has
elected to dedicate to the TIF Fund under an agreement with the City authorized by
Section 311.013(f) of the Texas Tax Code, plus (ii) eighty percent (80%) of the City's tax
increment, as defined by Section 311.012(a) of the Texas Tax Code, subject to any
binding agreement executed at any time by the City that pledges a portion of such tax
increment or an amount of other legally available funds whose calculation is based on
receipt of any portion of such tax increment, and specifically excluding any tax increment
generated by the real property covered in that certain Economic Development Program
Agreement with Pier-FTW, Inc. on file in the City Secretary's Office as City Secretary
Contract No. 29095. The TIF Fund shall be maintained in an account at the depository
bank of the City and shall be secured in the manner prescribed by law for Texas cities. In
addition, all revenues from (i) the sale of any obligations hereafter issued by the City and
secured in whole or in part from the tax increments; (ii) revenues from the sale of any
property acquired as part of a tax increment financing plan adopted by the Board; and
(iii) other revenues dedicated to and used in the Zone shall be deposited into the TIF
Fund. TIF Funds will be used solely in accordance with Section 311.014 of the Texas
Tax Code.
Page 8
Ordinance Designating Tax.Increment Reinvestment Zone Number Nine,
City of Port Worth,Texas
Section 7.
TAX INCREMENT AGREEMENTS.
That, pursuant to Sections 311.008 and 311.013 of the Texas Tax Code, the City
Manager and City Attorney are hereby authorized to execute and deliver, for and on
behalf of the City, tax increment agreements with taxing units that levy real property
taxes in the Zone.
Section 8.
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 9.
That this Ordinance shall take effect and be in full force and effect from and after
its adoption.
AND IT IS SO ORDAINED.
ADOPTED AND EFFECTIVE: 12-16-03.
Page 9
Ordinance designating Tax Increment Reinvestment Zone Number Nine,
1 ,�
City of Fort Worth,Texas °C"IV &K- }����1c��ti��;r,1
APPROVED AS TO FORM AND LEGALITY:
By:
-ellp-
Peter V aky
Assistant City Attorney
Date: 12-4-03
M&C:
Page 10
Ordinance Designating Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,'texas
Exhibit "A"
Map and Boundary Description of Zone
North ROW line East ROW line
of 23,St of Samuels Ave Centerline of
Trinity River
: y } West ROW line of
'-` E_• .' BNSF Railroad
'i;Fi:_
West ROW line ' - - .-� s
of FWBW Railroad
gi South ROW line
€I' •iF ��1j j�:'-� of Northside Dr
North ROW line
of Northside Dr ` =i'� ` = #` ` : East ROW line
of Samuels Ave
West ROW line '
' _
of North Main St "` +' ";� = North Paris Business Center
`. South prop line Blk 9 Lot RD
North ROW line
of Grand North Park Business Center
South prop line Blk 9 Lot RC
North ROW line s - t � �, ra ; •::
of Terrace _ _ ��,. i _ 'r Fruhwirth Addition
South prop line Blk i Lot Al R
West ROW line:
of University Dr :'' "�� , f - 1 Fruhwirth Addition
•.
r�. •, ,. ��';••' r t, � ,. South prop line of Trs 5
&6E
..F�r�--.�fiqx ��' �- nye 'r�•
IrX
Centerline of
Trinity River
Samules Ave Baptist
- _ �'••,�; � ''�._ �'•� �� �' Church Add.,South
�7;::• � !' prop line Blk i Lot i
y �
[- d 1ti1
South ROW of r '� �1- Mulliken Felix G
Shamrock : , •• I � ��ti• � propsurvey,H pp line
A1045 Tr 33
West ROW fine `fr` ! .5
West ROW line
of Vacek St s --� 1���� � of BNSF Railroad
South ROW line
North ROW line of ;r
White Settlement Rdof Peach St
West ROW line �: East ROW Eine
of FWBW Railroad _- ;; ; .• r �� I- i of Cummings
South ROW line f Centerline of North ROW line
�...L--.
of 7th St -moi' k _ - } „ Trinity River of Cummings
East ROW line
West ROW line North ROW of of Summit Ave
of Foch St. Forest Park
North ROW line
South ROW line North ROW South ROW line Of Weatherford
of Lancaster line of 51h St of 7th St
TAX INCREMENT REINVESTMENT ZONE #9
Tax Increment Reinvestment Zone #9
Boundary Description
Fort Worth,Texas
Beginning at a point of the intersection of a projection of the west ROW line of FW&W
railroad and the north ROW lune of 23`d St., thence
Easterly along the north ROW line of 23`' St.to a point where said line intersects with the
east ROW line of Samuels Ave., thence
Southerly along the east RDW line of Samuels Ave. to a point where said line intersects
with the centerline of the Trinity River, thence
Easterly along the centerline of the Trinity River to a point where said line intersects-with
the west ROW line of BNSF railroad, thence
Southerly along the west ROW line of BNSF railroad to a point where s_a_id line intersects
with the south ROW line of Northside Dr,thence
Southwesterly along the south ROW line of Northside Dr. to.a point where said line
intersects with the east ROW line of Samuels,thence
Southerly along the east ROW line of Samuels to a point where said line intersects with
the south property line of North Park Business Center Blk 9 Lot RC,thence
Westerly along the property line of North Park Business Center Blk 9 Lot RC to a point
where said line intersects with the south property line of North Park Business Center Blk
9 Lot RD, thence
Westerly along the south property line of North Park Business Center Blk 9 Lot RD to a
point where said line intersects with the south property line of Fruhwirth Addition Blk 1
Lot A i R,thence
Westerly along the south property line of Fruhwirth Addition Blk i Lot AIR to a point
where said line intersects with the south property line of Fruhwirth Addition Trs 5 & bE
Westerly along the south property line of Fruhwirth Trs 5 & bE to a point where said line
intersects with the centerline of the Trinity River,thence
Southwesterly along the centerline of the Trinity River to a point where said line
intersects with the south property line of Samuels Ave Baptist Church Addition Blk 1 Lot
1, thence
Easterly along the south property line of Samuels Ave Baptist Church Addition Blk 1 Lot
1 to a point where said line intersects the east ROW line of Samuels Ave., thence
1
Northerly along the east RDW line of Samuels Ave to a point where said line intersects
the north property line of Mulliken Felix G Survey A1045 Tr 33,thence
Easterly along the north property line of Mulliken Felix G Survey A1045 Tr 33 to a point
where said line intersects the west RDW line of BNSF railroad,thence
Southward along the west RDW line of BNSF railroad to a point where said line
intersects the south ROW line of Peach St., thence
Southwesterly along the south ROW line of Peach St. to a point where said line intersects
the east ROW line of Cummings, thence
Northwesterly along the east ROW of Cummings to a point where said line intersects the
north ROW line of Cummings,thence
Westerly along the north ROW line of Cummings to a point where said line intersects the
centerline of the Trinity River,thence
Southwesterly along the centerline of the Trinity River to a point where said line
intersects with the north ROW line of 5`h St.,thence
Easterly along the north ROW line of 5 I St. to a point where said line intersects the north
ROW line of Forest Park Boulevard, thence
Northward along the north ROW line of Forest Park Boulevard to a point where said line
intersects the north ROW line of Weatherford St.,thence
Northeasterly along the north ROW line of Weatherford St. to a point where said line
intersects the east ROW line of Sunu-nit Ave., thence
Southerly along the east ROW line Summit Ave. to a point where said line intersects the
south ROW line of 7`h Street, thence
Westerly along the south ROW line of 7`h Street to a point where said line intersects the
north ROW line of Forest Park Boulevard, thence
Southerly along the north RDW line of Forest Park Boulevard to a point where said line
intersects the south ROW line of Lancaster, thence
Westerly along the south RDW line of Lancaster to a point where said line intersects the
west ROW line of Foch St.,thence
Northward along the west ROW line of Foch St. to a point where said line intersects the
south ROW line of 7`h Street,thence
2
.r
Easterly along the south ROW line of 71h St. to a point where said line intersects the west
ROW line of FW&W railroad, thence
Northward along the west ROW line of FW&W railroad to a point where said line
intersects the north ROW line of White Settlement Rd., thence
Easterly along the north ROW line of White Settlement Rd. to a point where said line
intersects the west ROW line of Vacek St., thence
Northward along the west ROW line of Vacek St. to a point where said line intersects the
south ROW line of Shamrock,thence
Westerly along the south ROW line of Shamrock to a point where said line intersects the
west ROW line of University Dr., thence
Northward along the west ROW line of University Dr. to a point where said line
intersects the north ROW line of Terrace,thence
Northward along the north ROW line of Terrace to a point where said line intersects the
north ROW line of Grand, thence
Northward along the north ROW line of Grand to a point where said line intersects the
west ROW line of North Main St.,thence
Northward along the west ROW North Main St. to a point where said line intersects the
north ROW line of Northside Dr.,thence
Westward along the north ROW line of Northside Dr. to a point where said line intersects
the west ROW line of BNSF railroad,thence
Northward along the west ROW line of BNSF railroad. to a point where said line
intersects with the north ROW line of 23rd St., which is the point of beginning.
ORDINANCE NO.
AN ORDINANCE AMENDING ORDINANCE NO. 15797 BY
INCREASING THE NUMBER OF DIRECTORS ON THE BOARD
OF DIRECTORS OF TAX INCREMENT REINVESTMENT ZONE_
NUMBER NINE, CITY OF FORT WORTH,TEXAS.
WHEREAS, as authorized by Section 311.005(a)(1) of the Texas Tax Code, the
City Council created Tax Increment Reinvestment Zone Number Nine, City of Fort
Worth, Texas (the "Zone'), which is generally known as the Trinity River Vision TIF,
pursuant to Ordinance No. 15797, adopted by the City Council on December 16, 2003;
and
WHEREAS, Ordinance No. 15797 established a board of directors for the Zone
(the"Board") consisting of eleven(11)members; and
WHEREAS, pursuant to Section 311.009(a) of the Texas Tax Code and in
accordance with Ordinance No. 15797, each taxing unit with jurisdiction in-the Zone,
other than the City, may appoint one (1) member of the Board and the City Council will
appoint whatever number of members are necessary to fill the remaining positions on the
Board; and
WHEREAS, Section 311.009(a) of the Texas Tax Code provides that the board
of directors of a tax increment reinvestment zone designated pursuant to Section
311.005(a).(1) of the Texas Tax Code may consist of up to fifteen (15)members, and that
the governing body of the municipality that designated the reinvestment zone may
appoint up to ten(10) of those members; and
WHEREAS, the City Council wishes to amend Ordinance No. 15797 to increase
the number of members on the Board from eleven (11)to fifteen (15);
Page 3 of 3
Ordinance Increasing Size of Board of Directors of
Tax Increment Reinvestment Zone Nurnber Nine(Trinity River Vision TIFF)
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH,TEXAS:
Section 1.
That Section 3 of Ordinance No. 15797 (Zone Board of Directors) is hereby
amended to read as follows:
That a board of directors for the Zone.("Board") is hereby created. The
Board shall consist of fifteen (15) members who shall serve for terms of
two (2) years each; provided, however, that the initial terms of some
members may be less than two (2) years to allow for subsequent staggered
terms. Of these fifteen (15) members, each taxing unit other than the City
that levies taxes on real property in the Zone may, but is not required to,
appoint one (1) member to the Board. After each taxing unit other than
the City designates to the City either the name of the member that the
taxing unit wishes to appoint or the fact that the taxing unit wishes to
waive.its right to appoint a member, the City Council shall appoint
whatever number of members are necessary to fill the remaining positions
on the Board. Such members may be members of the City Council.
Section 2.
That all provisions of Ordinance No. 15797 that are not expressly amended herein
shall remain in full force and effect. 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 oriudgment.
Page 2 of 3
Ordinance increasing Size of Board of Directors of
Tax Increment Reinvestment Zone Number Nine('Trinity River Vision T1B)
Section 3.
That this Ordinance shall take effect and be in fail force and effect from and after
its adoption.
AND IT IS SO ORDAINED.
ADOPTED AND EFFECTIVE:
APPROVED AS TO FORM AND LEGALITY:
By:
Peter Vaky
Assistant City Attorney
Date:R -15-0'f
M&C:
Page 3 of 3
Ordinance Increasing Size of Board of Directors of
"Tax Increment Reinvestment Zone Number Nine(Trinity River Vision TIF)
ORDINANCE NO. 16808-2-2006
AN ORDINANCE REDUCING THE BOUNDARIES OF TAX
INCREMENT REINVESTMENT ZONE NUMBER NINE, CITY OF
FORT WORTH, TEXAS (TRINITY RIVER VISION TIF); AND
CONTAINING OTHER MATTERS RELATED TO THE ZONE.
WHEREAS, pursuant to Ordinance No. 15797, adopted by the City Council of
the City of Fort Worth, Texas (the "City") on December 16, 2003, the City created Tax
Increment Reinvestment Zone Number Nine, City of Fort Worth, Texas (Trinity River
Vision TIF) (the"Zone"); and
WHEREAS, Section 311.007 of the Texas Tax Code (the "Code") allows the
City Council to reduce or enlarge the boundaries of an existing reinvestment zone by
ordinance or resolution, subject to the limitations provided by Section 311.006 of the
Code; and
WHEREAS, the City wishes to reduce the Zone by removing the property
depicted and described in Exhibit "A" and Exhibit "B" of this Ordinance (collectively,
the "Property"), which Exhibits are attached hereto and hereby made a part of this
Ordinance for all purposes; and
WHEREAS, by operation of Sections 311.006 and 311.007 of the Code, a
municipality may change the boundaries of an existing reinvestment zone so long as (i)
less than ten percent (10%) of the property within the amended boundaries of the
reinvestment zone, excluding any property dedicated to public use, is used for residential
purposes, as defined in Section 311.006(d) of the Code; (ii) the amended boundaries of
the reinvestment zone will not contain more than fifteen percent (15%) of the total
appraised value of taxable real property in the municipality and in the industrial districts
Page]
Ordinance Reducing Boundary of Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas(Trinity River Vision TIF)
created by the municipality; and (iii) the amended boundaries of the reinvestment zone
will not contain more than fifteen percent (15%) of the total appraised value of the real
property taxable by a county or school district; and
WHEREAS, on February 7, 2006 the City Council held a public hearing
regarding the reduction of the Zone and its benefits to the City and to property in the
Zone and afforded a reasonable opportunity for all interested persons to speak for or
against the removal of the Property from the Zone and the concept of tax increment
financing; and
WHEREAS, notice of the public hearing was published in a newspaper of
general circulation in the City on January 26, 2006, which date was not later than seven
(7) days prior to the date of the hearing; and
WHEREAS, prior to the public hearing the City provided written notice to all
taxing units levying real property taxes within the Zone of the City's intention to remove
the Property from the Zone and of the public hearing.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH,TEXAS:
Section I.
FINDINGS.
That after reviewing all information before it regarding the removal of the
Property from the Zone and after conducting a public hearing regarding the reduction of
the Zone and its benefits to the City and to property in the Tone and affording a
reasonable opportunity for all interested persons to speak for or against the removal of the
Page 2
Ordinance Reducing Boundary of Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas(Trinity River Vision TIF)
Property from the Zone and the concept of tax increment financing, the City Council
hereby makes the following findings of fact:
1.1. The statements, facts, terms and conditions set forth in the recitals of this
Ordinance are true and correct.
1.2. Removal of the Property from the Zone will not adversely affect development in
the Zone or adversely affect either the Zone or the City in general.
1.3. The Property is subject to removal from the Zone pursuant to Section 311.007(a)
of the Code.
1.4. With the removal of the Property from the Zone, less than ten percent (10%) of
the property within the Zone, excluding any property dedicated to public use, will
be used for residential purposes, as defined in Section 311.006(d) of the Code.
1.5. With the removal of the Property from the Zone, the Zone will not contain more
than fifteen percent (15%) of the total appraised value of taxable real property in
the municipality and in the industrial districts created by the municipality.
1.6. With the removal of the Property from the Zone, the Zone will not contain more
than fifteen percent (15%) of the total appraised value of real property taxable by
any county or school district.
Section 2.
REMOVAL OF PROPERTY FROM ZONE.
That the City Council hereby reduces the boundaries of the Zone by removing the
Property from the Zone. The Zone, as reduced, has been designated under Section
311.005(a)(1) of the Code and shall continue to be known as "Tax Increment
Page 3
Ordinance Reducing Boundary of Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas(Trinity River Vision TIF)
Reinvestment Zone Number Nine, City of Fort Worth, Texas." With removal of the
Property from the .Zone, the Zone shall comprise the property depicted in Exhibit "C",
which is attached hereto and hereby made a part of this Ordinance for all purposes.
Section 3.
ZONE BOARD OF DIRECTORS.
That the board of directors for the Zone shall remain unchanged and shall
continue to conform to the requirements of Section 311.449 of the Code.
Section 4.
TERM OF ZONE.
That the removal of the Property from the Zone shall take effect upon the
adoption of this Ordinance. The Zone, as reduced, shall terminate in accordance with
Section 5 of Ordinance No. 15797.
Section S.
DETERMINATION OF TAX INCREMENT BASE.
That the tax increment base of the Zone, as defined by Section 311.012(c) of the
Code, shall be reduced by the taxable appraised value of the Property for the year 2403,
which is the year in which the Property was designated as part of the Zone pursuant to
Ordinance No. 15797. The tax increment base for property remaining in the Zone shall
remain unchanged.
Page 4
Ordinance Reducing Boundary of Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas{Trinity River Vision TIF}
Section 6.
TAX INCREMENT FIND.
That beginning with the 2005 tax year, each taxing unit which levies real property
taxes on the Property shall be relieved of any obligation to deposit the percentage of any
tax increment (as defined by Section 311.012(a) of the Code) produced by the Property
that the taxing entity elected to dedicate to the Tax Increment Fund (created and
established for the Zone pursuant to Section 6 of Ordinance No. 15797) under a
participation agreement with the City, as authorized by Section 311.013(f) of the Code.
Section 7.
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 S.
That this Ordinance shall take effect and be in full force and effect from and after
its adoption.
AND IT IS SU ORDAINED.
Page 5
Ordinance Reducing Boundary of Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas(Trinity River Vision TIF)
ADOPTED AND EFFECTIVE: February 7, 2006
APPROVED AS TO FORM AND LEGALITY:
By:
Peter Vaky
Assistant City Attorney
Date: 2-7- D�
M&C: Cr-19070
Page 6
Ordinance Reducing Boundary of Tax increment Reinvestment Tone Number Nine,
City of Fort Worth,Texas{Trinity River Vision TDF}
EXHIBIT "A"
TRACT I
PROPERTY TO BE REMOVED FROM EAST BOUNDARY OF ZONE
Ordinance Reducing Boundary of Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas(Trinity River Vision TIF}
TRACT I(Boundary description of property to be removed from the East boundary):
Beginning at a point of the intersection of a the east ROW line of Cummings St.and south ROW line of Peach St,
thence
Easterly along the south ROW line of Peach St to a point where said line intersects with the east property line of Block
124,Lot 9A of the Fort Worth Original Addition,thence
Northerly from the east property line of Block 124,9A of the Fort worth Original Addition to a point where said line
intersects the north ROW line of Peach St and the east ROW line of Samules Ave,thence
Westerly from the east ROW line of Samuels Avenue to a point where said line intersects the southeast property line of
Block 1,Lot SR of the Cummings-Boaz Addition,thence
Westerly along the south property line of Block 1,Lot SR of the Cummings-Boaz Addition to a point where said line
intersects the east property line of Lot 18B of the Cummings Addition,thence
Northerly along the east property line of Lot 18B of the Cummings Addition to a point where said line intersects the
north property line of Lot 18B of the Cummings Addition,thence
Westerly along the north property line of Lot 1813 to a point where said line intersects the east property line of Lot
4A of the Cummings Addition,thence
Northerly along the east property line of Lot 4A of the Cummings Addition to a point where said fine intersects the
north property line of Lot 4A of the Cummings Addition,thence
Westerly along the north property line of Lot 4A to a point where said line intersects the east ROW line of Cummings
Ave,thence
Southerly along the east ROW line of Cummings Ave to a point where said line intersects with south ROW line of
Peach St,which is the point of beginning.
West ROW line
of BNSF Railroad
East Property line of
Lot 18B
Intersection of the North
ROW line of Peach and
the Fast ROW of Svnuels A�e
South ofROW line
of Peach St
® Intersection of clic East
Property line of
East ROW line South Property line of Block 124.Lot 9A
of Cummings Block 1,f.ot]R
North Property line of Lots
183 and 4A of the
Cummings Addition
EXHIBIT "B"
TRACT II
PROPERTY TO BE REMOVED FROM WEST BOUNDARY OF ZONE
Ordinance Reducing Boundary of Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas(Trinity River Vision TTF)
TRACT H(Boundary description of property to be removed from the West boundary):
Beginning at a point of the intersection of a the east ROW line of Foch St, and south ROW line of Lancaster Ave,
thence
Northward along the east ROW line of Foch Street to a point where said line intersects the south property line of Justin
Addition Blk 1,Lot 3,thence
Easterly along the south property line of Justin Addition Elk 1,Lot 3 to a point where said line intersects the east
property line of Justin Addition Blk 1,Lot 3,thence
Northward along the east property line of Justin Addition Blk 1,Lot 3 to a point where said line intersects the south
property line of Justin Addition Elk 1,Lot 4,thence
Easterly along the south property line of Justin Addition Blk 1,Lot 4 to a point where said line intersects the south
property line of Seventh Street Station Blk 1,Lot 1,thence
Easterly along the south property line of Seventh Street Station Blk 1,Lot 1 to a point where said line intersects the
west ROW line of Woolery Street,thence
Northward along the west ROW line of Wooiery Street to a point where said line intersect the south ROW line of 7u`
Street,thence
Westerly along the south ROW line of 7b Street to a point where said line intersects the west ROW Eine of Foch St,
thence
Southerly along the west ROW line of Poch St.to a point where said line intersects the south ROW line of Lancaster
Ave,thence
Easterly along the south ROW line of Lancaster Ave to a point where said line intersects with east ROW line of Foch
Street,which is the point of beginning.
Wegi ROW lute
of FW&W Raiht oad
West FLOW line
e.w. h ROW 1,.0 of Wh c, or Woolen'St
Juslin Addition Fast and
south Prnr Sine Rik 1 TA 3
Bast ROW line of Foch St.
Justin Addtion South
prop line Blk l Lot 4 South ROW line
of Lancaster
Seventh Street 5S;alon South
prop line Elk 1 Lot Z
EXHIBIT"C"
DESCRIPTION AND DEPICTION OF ZONE FOLLOWING REMOVAL OF
THE PROPERTY
Ordinance Reducing Boundary of Tax Increment Reinvestment Zone Number Nine,
City of Fort Worth,Texas(Trinity River Vision TIF}
North ROW line East ROW line
of 23r'St of Samuels Ave Centerline of
Trinity River
West ROW
Eine of
BNSF Railroad
West ROW line ......
South ROW line of
of FW&W Railroad
Z Northside Dr
North ROW line
& line
of Northside Dr ME% of Samuels Ave
North Park Business Center South
prop line lalk 9 Lot RD
West ROW line
of North Main St
North Park Business Center South
prop line Blk 9 Lot RC
North ROW line
of GrandFruhwirth Addition
,
X.• oBl
k I Lot AIR
South prop line A
"'.
!k
'p,
OW fine
North R F-h;irth Addition
of Terrace
prop lino of Trs 5&6E
West ROW line Center'!me of
Trinity River
of University Dr
s mules Ave B apti st
Church Add-,South prop
li.ertlk I Lot I
...........•
..... Mull iken Felix G
4Survey,N prop I irto
A1045 Tr 33
West R 3�'-o
of BNSF R61�..d
r c
wersection or the North
South ROW of ROW line ol'Peach and
Shamrock IheEastROWofSamuelsAve
T
West ROW line i{1L 1.
i 'rttiSouth of ROW cine
ofVacek St of Peach St
H
Intersec noftheEast
North ROW line of 0
Nor! Settlement Rd Prop line of
[Whit,'S Block 124,Lot 9A
North POW line
West ROW linefCummings Soulh Property line of
ofFW&W Railroad
q-, Block 1,Lot 5R
East ROW line
ol'Curnmings
line --- --- East Property line oC
of Woolery St Lot I 8B
Justin Addition :t and
North Property Zine or Lois
South Prop I in 18B and 4A of the;
Curnmings Addition
North ROW of
Forest Park East ROW line of Centerline of
Summit Ave Trinity River
�A-
ustin Add ion South
North ROW line
East
POW line of Foch St. proplineB I Lot 4] of 5th North ROW line St South ROW line Of Weatherford
South ROW line of 7"St
Seventh Street Station South
P, PSine
inaBlk I Lat l of Lancaster
TAX INCREMENT REINVESTMENT ZONE # 9
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 2!712006 - +Ordinance No. 16808-2-2006
CONTINUED FROM A PREVIOUS WEEK
DATE: Tuesday, January 24, 2005
LOG NAME: 17PH -TIF 9 REFERENCE NO.: G-15070
SUBJECT:
Adopt Ordinance Reducing Boundaries of Tax Increment Reinvestment Zone Number Nine, City of
Fort Worth, {Trinity River Vision TIF}
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a public hearing concerning the reduction of the boundary of Tax Increment Reinvestment Zone
Number Nine, City of Fort Worth, Texas (Trinity River Vision TIF) as specifically provided in the attached
Ordinance; and
2. Adopt the attached Ordinance that reduces the boundary of the Trinity River Vision TIF, as specifically
provided in the Ordinance and makes related findings of fact in support of such reduction.
DISCUSSION:
The attached Ordinance modifies the boundaries of Tax Increment Reinvestment Zone Number Nine
(Trinity River Vision TIF) by reducing its overall size. The modification of the TIF boundary is required in
order to address technical and administrative issues, A modification is being made on the western boundary
in the West 7th Street area to reflect the original intent of City Council when establishing the TIF District to
include the South of Seventh development only and not the adjacent properties. An additional modification
amends the TIF boundary in the Trinity Bluff area so that it aligns with the boundary line of a platted
property. The current TIF boundary splits a parcel in two, which creates a technical issue related to property
valuation and the TIF District. These changes to the TIF boundary will not have a financial impact to the TIF
District; or the project and finance plan adopted January 19, 2006.
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 meeting.
TIF 9 is located in COUNCIL. DISTRICTS 2 and 9.
FISCAL INFORMATIONICERTIFICATION:
The Finance Director certifies that this action will have no material effect on City funds.
Logname: 17PH -TIF 9 Page I of 2
TC Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by: Dale Fisseler(6140)
Originating Department Head: Tom Higgins (6192)
Additional Information Contact: Keisha Ward (6376)
Logname: 17PH -TIF 9 Page 2 of 2