HomeMy WebLinkAboutOrdinance 20293-07-2012ORDINANCE NO. 20293-07-2012
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER EIGHTY - THREE, CITY OF
FORT WORTH, TEXAS "; ADOPTING A PROJECT PLAN FOR
THE ZONE; 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 12, 2012 of Resolution No.
4096 -06 -2012 (M &C G- 17617) (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 "), which Exhibit "A"
is attached hereto and hereby made a part of this Ordinance for all purposes, through the creation
of a reinvestment zone pursuant to and in accordance with Chapter 312 of the Code; and
WHEREAS, Casino Beach Partners, LLC, a Texas limited liability company, or an
affiliate thereof (collectively, "Company "), wishes to purchase real property in the Zone and
wishes to construct a multi -use development within the Zone consisting of (i) approximately
10,000 square feet of retail space; (ii) an event center of approximately 20,000 square feet; (iii)
entertainment venues of approximately 30,000 square feet; (iv) restaurants; (v) an amphitheater;
(vi) concessions; (vii) boat slips; and (viii) public restrooms, as well as the infrastructure
necessary to support such development (collectively, the "Improvements "); and
Designating Tax Abatement Reinvestment Zone Number Eighty- Three, Page 1 of 5
City of Fort Worth, Texas Ordinance No. 20293 -07 -2012
WHEREAS, on July 17, 2012 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 July 9, 2012, 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), 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:
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:
Designating Tax Abatement Reinvestment Zone Number Eighty- Three, Page 2 of 5
City of Fort Worth, Texas Ordinance No. 20293 -07 -2012
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 property comprising the Zone is largely vacant and substantially impairs the sound
growth of the City due to obsolete infrastructure within the Zone and a street layout that
is insufficient to provide adequate ingress to and egress from parcels within the Zone,
both of which retard the usefulness of the property in the Zone.
1.3 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.
1.4 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.
Section 2.
DESIGNATION OF THE ZONE.
That the City Council hereby designates the Zone as a reinvestment zone pursuant to and
in accordance with Chapter 312 of the Code. This Zone shall be known as "Tax Abatement
Reinvestment Zone Number Eighty - Three, City of Fort Worth, Texas." Property located within
the Zone shall be eligible to receive a residential tax abatement, commercial /industrial tax
abatement or a mixed -use tax abatement if specifically granted by the City Council subsequent to
designation of the Zone and provided that a redevelopment project for such property qualifies for
Designating Tax Abatement Reinvestment Zone Number Eighty- Three, Page 3 of 5
City of Fort Worth, Texas Ordinance No. 20293 -07 -2012
abatement under the Tax Abatement Policy. Property in the Zone on which the Improvements
are constructed is eligible to receive a commercial /industrial tax abatement pursuant to Section
4.2 of the Tax Abatement Policy or a mixed -use tax abatement pursuant to Section 5.2 of the Tax
Abatement Policy.
Section 3.
ADOPTION OF PROJECT PLAN.
That the redevelopment plan attached hereto as Exhibit "B ", which Exhibit `B" is
hereby made a part of this Ordinance for all purposes, reflects the manner in which the City
desires the Zone to be redeveloped and is hereby adopted as the project plan for the Zone (the
"Project Plan "). Property in the Zone that is owned by the City may be sold pursuant to and in
accordance with Section 272.001(b)(6) of the Texas Local Government Code if the City
determines that such sale will cause that property to be redeveloped in accordance with the
Project Plan.
Section 4.
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.
Designating Tax Abatement Reinvestment Zone Number Eighty- Three, Page 4 of 5
City of Fort Worth, Texas Ordinance No. 20293 -07 -2012
Section 5.
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 6.
IMMEDIATE EFFECT.
That this Ordinance shall take effect upon its adoption.
AND IT IS SO ORDAINED.
ADOPTED AND EFFECTIVE: July 17, 2012
APPROVED AS TO FORM AND LEGALITY:
By:
Peter Vaky
Deputy City Attorney
M &C: G -17633
Designating Tax Abatement Reinvestment Zone Number Eighty - Three, Page 5 of 5
City of Fort Worth, Texas Ordinance No. 20293 -07 -2012
EXHIBIT "A"
BOUNDARY OF ZONE
PARCEL 1
REAL PROPERTY DESCRIPTION
LOTS 1 — 3, BLOCK 16
LAKE WORTH LEASES
TARRANT COUNTY, TEXAS
All that certain lot, tract or parcel of land lying and situated in the Jacob Wilcox Survey No. 33,
Abstract No. 1716, Tarrant County, Texas, being a portion of Lot 1 and all of Lots 2 and 3,
Block 16, Lake Worth Leases, an addition to the City of Fort Worth, according to the map filed
under the City of Fort Worth Transportation and Public Works Department File No. J -175, being
a portion of that certain tract of land described as 101.8 acres in the deed from Charles H. Haley
and wife, Flora G. Haley to the City of Fort Worth, executed April 27, 1912, recorded in Volume
325, Page 562 of the Deed Records of Tarrant County, Texas, and being more particularly
described by metes and bounds as follows:
BASIS OF BEARINGS obtained utilizing the City of Fort Worth Integrated GPS Network
System, NAD 83, North Central Texas Zone. All distances reported are ground measurements.
BEGINNING at a 5/8" iron rod set with red plastic cap stamped "City of Ft. Worth Survey
Division" lying in a curve having a radius of 1,070.91 feet at the intersection of the
southwesterly right -of -way line of State Highway No. 199 (variable width right -of -way also
known as Jacksboro Highway) as deeded to the State of Texas under Volume 1106, Page 447 of
the Deed Records of Tarrant County, Texas, with the southerly line of Watercress Drive (50'
street reservation per File J -175), and being the northeast corner of said Lot 1;
THENCE in a southeasterly direction along the arc of said curve along the southwesterly right -
of -way line of said Highway, through a central angle of 23 degrees 40 minutes 37 seconds an arc
length of 442.54 feet, the chord of which bears South 63 degrees 55 minutes 23 seconds East
439.40 feet to a 5/8" iron rod set with red plastic cap stamped "City of Ft. Worth Survey
Division" at the end of said curve;
THENCE South 52 degrees 05 minutes 31 seconds East along the southwesterly right -of -way
line of said Highway, 158.88 feet to a point lying on the approximate 594' contour line, being the
southeast corner of said Lot 1;
THENCE departing said Highway right -of -way line, in a southwesterly direction approximately
along the 594' contour line the following courses and distances:
South 28 degrees 57 minutes 07 seconds West 35.67 feet;
South 42 degrees 51 minutes 45 seconds West 89.42 feet;
South 59 degrees 22 minutes 37 seconds West 80.31 feet;
South 66 degrees 08 minutes 15 seconds West 70.77 feet;
South 71 degrees 39 minutes 48 seconds West 93.70 feet;
South 51 degrees 18 minutes 16 seconds West, at 98.91 feet passing the southwest corner
of said Lot 1, being the southeast corner of said Lot 2, continuing in all 140.90
feet;
South 75 degrees 14 minutes 33 seconds West 62.51 feet;
South 59 degrees 41 minutes 38 seconds West 177.15 feet;
South 50 degrees 14 minutes 52 seconds West 56.08 feet;
South 54 degrees 09 minutes 35 seconds West 160.46 feet;
South 56 degrees 12 minutes 46 seconds West 225.56 feet;
South 58 degrees 56 minutes 17 seconds West 78.66 feet;
South 47 degrees 13 minutes 40 seconds West 44.09 feet;
South 54 degrees 09 minutes 02 seconds West 79.44 feet;
South 27 degrees 59 minutes 16 seconds West 130.75 feet to the southwest corner of said
Lot 2;
THENCE North 40 degrees 21 minutes 30 seconds West along the westerly line of said Lot 2, at
49.10 feet passing a 5/8" iron rod found for reference, continuing in all 481.72 feet to a 5/8" iron
rod found with red plastic cap stamped "City of Ft. Worth Survey Section" lying in the southerly
line of said Watercress Drive, being the northwest corner of said Lot 2;
THENCE North 52 degrees 22 minutes 57 seconds East along the southerly line of said Drive,
1,282.85 feet to the point of beginning and containing 15.704 acres of land, as surveyed on the
ground during the month of June 2012.
NOTE: In accordance with the Texas Board of Professional Land Surveying General Rules of
Procedures and Practices, 663.19(9), this "report" consists of the map as shown hereon and real
property descriptions being attached herewith.
PARCEL 2
REAL PROPERTY DESCRIPTION
LOTS 4 -7, LOT 13 -R & LOT 14 -R, BLOCK 16
LAKE WORTH LEASES
& 39.628 ACRES IN THE
JACOB WILCOX SURVEY No. 33, ABSTRACT No. 1716
TARRANT COUNTY, TEXAS
All that certain lot, tract or parcel of land lying and situated in the Jacob Wilcox Survey No. 33,
Abstract No. 1716, Tarrant County, Texas, being all of Lots 4 through 7, all of Lot 13 -R and Lot
14 -R, all of Surfside Drive, a portion of Watercress Drive and a 39.268 acre tract in Block 16,
Lake Worth Leases, an addition to the City of Fort Worth, according to the map filed under the
City of Fort Worth Transportation and Public Works Department File No. J -175, being a portion
of that certain tract of land described as 10 1. 8 acres in the deed from Charles H. Haley and wife,
Flora G. Haley to the City of Fort Worth, executed April 27, 1912, recorded in Volume 325,
Page 562 of the Deed Records of Tarrant County, Texas, and a portion of that certain tract of
land described as 428 acres in the deed from Mrs. Ella Young, et al to the City of Fort Worth,
executed May 29, 1918, recorded in Volume 664, Page 277 of the Deed Records of Tarrant
County, Texas, and being more particularly described by metes and bounds as follows:
BASIS OF BEARINGS obtained utilizing the City of Fort Worth Integrated GPS Network
System, NAD 83, North Central Texas Zone. All distances reported are ground measurements.
BEGINNING at a brass disc monument found in concrete stamped "Lake Worth Boundary
Monument" (control monument, called Monument No. 80 per Lake Worth Boundary Map filed
under City of Fort Worth Transportation and Public Works Department File No. F -83) lying in
the intersection of the westerly line of Surfside Drive (60' street reservation per File J -175) with
the southerly line of Watercress Drive (50' street reservation per File J -175), on the northerly
line of said 428 acre tract, being the southwest corner of said 101.8 acre tract, said monument
also lying on the called easterly line of Lot 10 -A, Block 16, Lake Worth Leases, according to the
plat recorded under Cabinet A, Slide 4402 of the Plat Cabinet Records of Tarrant County, Texas,
said corner bears South 14 degrees 31 minutes 36 seconds East 9.86 feet from a 3/4" iron rod
found for the called northerly corner of said Lot 10 -A;
THENCE North 00 degrees 05 minutes 07 seconds East (directional control line) along the
westerly line of said 101.8 acre tract, said Lake Worth Boundary Line and generally along the
westerly line of said Surfside Drive, 719.22 feet to a point for corner lying in the southerly right -
of -way line of State Highway No. 199 (variable width right -of -way also known as Jacksboro
Highway) as deeded to the State of Texas under Volume 1106, Page 447 of the Deed Records of
Tarrant County, Texas, from which a 1/2" iron rod found bears North 60 degrees 45 minutes 28
seconds West 0.22 feet for the northeast corner of that certain tract of land described as 0.349
acre in the deed from L.T. and Carrie B. Trantham Family Limited Partnership to the State of
Texas, executed July 26, 2000, recorded in Volume 14500, Page 345 of the Deed Records of
Tarrant County, Texas, said corner bears South 00 degrees 05 minutes 07 seconds West 600.91
feet from a brass disc monument found in concrete stamped "Lake Worth Boundary Monument"
(control monument, called Monument No. 81 per Lake Worth Boundary Map filed under City of
Fort Worth Transportation and Public Works Department File No. F -83) for the northwest corner
of said 101.8 acre tract;
THENCE North 74 degrees 14 minutes 08 seconds East along the southerly right -of -way line of
said Highway, 9.20 feet to a 5/8" iron rod set with red plastic cap stamped "City of Ft. Worth
Survey Division ";
THENCE South 00 degrees 05 minutes 07 seconds West along the southerly right -of -way line,
26.32 feet to a 5/8" iron rod set with red plastic cap stamped "City of Ft. Worth Survey
Division ";
THENCE North 74 degrees 14 minutes 29 seconds East along the southerly right -of -way line of
said Highway, 1,710.84 feet to 3/4" iron rod found at the beginning of a circular curve to the
right having a radius of 1,070.91 feet;
THENCE in a southeasterly direction along the arc of said curve and the southwesterly right -of-
way line of said Highway, through a central angle of 29 degrees 59 minutes 29 seconds an arc
length of 560.56 feet, the chord of which bears North 89 degrees 13 minutes 52 seconds East
554.19 feet to a 5/8" iron rod set with red plastic cap stamped "City of Ft. Worth Survey
Division" lying in the southerly line of said Watercress Drive, being the northeast corner of Lot
1, Block 16 of said Lake Worth Leases;
THENCE departing said Highway right -of -way line, South 52 degrees 22 minutes 57 seconds
West along the southerly line of said Drive, 1,282.85 feet to a 5/8" iron rod found with red
plastic cap stamped "City of Ft. Worth Survey Section ", being the northwest corner of Lot 2,
Block 16 of said Lake Worth Leases;
THENCE South 40 degrees 21 minutes 30 seconds East along the westerly line of said Lot 2, at
432.62 feet passing a 5/8" iron rod found for reference, continuing in all 481.72 feet to a point on
the approximate 594' contour, being the southwest corner of said Lot 2;
THENCE in a southwesterly direction approximately along the 594' contour the following
courses and distances:
South 68 degrees 01 minutes 45 seconds West 252.63 feet;
South 63 degrees 34 minutes 09 seconds West 79.35 feet;
South 60 degrees 19 minutes 09 seconds West 124.11 feet;
South 49 degrees 10 minutes 16 seconds West 143.22 feet;
South 29 degrees 26 minutes 47 seconds West 2 1. 11 feet;
South 15 degrees 36 minutes 48 seconds West 20.45 feet;
South 26 degrees 12 minutes 37 seconds West 13.65 feet;
South 67 degrees 20 minutes 26 seconds West 67.70 feet;
South 88 degrees 40 minutes 30 seconds West 52.24 feet;
South 79 degrees 12 minutes 07 seconds West 49.31 feet;
South 68 degrees 11 minutes 40 seconds West 76.87 feet;
South 64 degrees 49 minutes 08 seconds West 59.82 feet;
South 84 degrees 22 minutes 57 seconds West 55.52 feet;
South 68 degrees 27 minutes 25 seconds West 52.53 feet to the southwest corner of said
Lot 6, the southeast corner of said Lot 7;
South 72 degrees 33 minutes 37 seconds West 124.55 feet to the southwest corner of said
Lot 7, the southeast corner of a variable width drainage and lake right -of -way per
plat recorded under Cabinet A, Slide 1375 of the Plat Cabinet Records of Tarrant
County, Texas;
South 29 degrees 22 minutes 31 seconds West 24.35 feet to the southwest corner of said
drainage right -of -way, being the eastern most southeast corner of Lot 10 -B, Block
16, Lake Worth Leases, according to the plat recorded under Cabinet A, Slide
4402 of the Plat Cabinet Records of Tarrant County, Texas, and the eastern most
southeast corner of that certain tract of land described in the Warrant Deed from
Ronald B. Wooten, et ux Barbara Wooten to Tobin C. Ballard, et ux Deborah A.
Ballard, executed February 11, 1998, recorded in Volume 13078, Page 451 of the
Deed Records of Tarrant County, Texas;
THENCE in a northwesterly direction along the common line between said Lot 10 -B and said
drainage right -of -way the following courses and distances:
North 50 degrees 44 minutes 00 seconds West 52.40 feet to a 1/2" iron rod found;
North 62 degrees 27 minutes 08 seconds West 29.85 feet to a 3/8" iron rod found;
North 17 degrees 46 minutes 59 seconds West 54.75 feet to a 5/8" iron rod found;
North 08 degrees 45 minutes 22 seconds West 52.35 feet to a 1/2" iron rod found;
North 15 degrees 26 minutes 59 seconds West 24.34 feet to a 1/2" iron rod found lying in
the southerly line of said Surfside Drive, being the northeast corner of said Lot
10 -B, the northwest corner of said drainage right -of -way;
THENCE South 56 degrees 15 minutes 46 seconds West along the southerly line of said Drive,
7.40 feet to a 3/4" iron rod found;
THENCE North 81 degrees 37 minutes 53 seconds West along the southerly line of said Drive,
60.70 feet to a 1/2" iron rod found capped "RPLS 1983 ", being the northwest corner of said Lot
10 -B, the northeast corner of Lot 10 -A -2, Block 16, Lake Worth Leases, according to the plat
recorded under Document No. D212057805 of the Plat Records of Tarrant County, Texas and
the northeast corner of that certain tract of land described as 0.499 acre in the General Warranty
Deed from Ronald B. Wooten to Thomas Ward Thompson and wife, Susan Chambers
Thompson, dated August 6, 2007, recorded under Document No. D207282908 of the Deed
Records of Tarrant County, Texas;
THENCE North 81 degrees 14 minutes 43 seconds West along the southerly line of said Drive,
90.26 feet to a 1/2" iron rod found capped "Lone Star 5746 ", being the northwest corner of said
Lot 10 -A -2 and said Thompson tract, being the eastern most northeast corner of that certain tract
of land described in the Special Warranty Deed from Ronald B. Wooten to Barbara A. Wooten,
dated August 21, 2002, recorded in Volume 15955, Page 65 of the Deed Records of Tarrant
County, Texas;
THENCE North 52 degrees 36 minutes 03 seconds West along the southerly line of said Drive,
185.93 feet to a 1" iron pipe found;
THENCE North 14 degrees 16 minutes 59 seconds West along the southerly line of said Drive,
210.12 feet to the Point of Beginning and containing 43.735 acres of land as surveyed on the
ground during the month of June 2012.
NOTE: In accordance with the Texas Board of Professional Land Surveying General Rules of
Procedures and Practices, 663.19(9), this "report" consists of the map as shown hereon and real
property descriptions being attached herewith.
Reinvestment Zone No. 83
Casino Beach Redevelopment
Fort Worth, TX 76135
"Exhibit A"
Copyright 2012 City of Fort Worth. Unauthorized reproduction is a violation of applicable laws. This product is for informational purposes and may not have been prepared
for or be suitable for legal, engineering, or surveying purposes. It does not represent an on- the - ground survey and represents only the approximate relative location of property
boundaries. The City of Fort Worth assumes no responsibility for the accuracy of said data.
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EXHIBIT "B"
PROJECT PLAN FOR ZONE
Project Description:
Construction of a mixed -use development consisting of new retail, office, an event center,
entertainment venues, restaurants as well as a variety of other public improvements within the
Zone such as an amphitheater, boat slips, and restrooms.
Casino Beach Partners, LLC intends to construct or cause construction of the following:
• Approximately 10,000 square feet of retail space;
• Approximately 20,000 square feet for an event center;
• Approximately 30,000 square feet of entertainment venues; and
• Approximately six restaurants.
The project is redevelopment project that requires the assembly of multiple parcels and the
extension of existing water, sewer, and other utilities throughout the development property. The
development necessitates the acquisition of the City property for reconfiguring access to and
egress from the project, including the construction of bike paths, streets, retaining walls, piers,
parking. A site plan of the project is attached hereto.
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 7117/2012 Ordinance No. 20293 -07 -2012
DATE: Tuesday, July 17, 2012 REFERENCE NO.: G -17633
LOG NAME: 17RZCASINOBEACHLAND
SUBJECT:
Conduct a Public Hearing and Adopt Ordinance Establishing Tax Abatement Reinvestment Zone No. 83,
City of Fort Worth, Texas, for Casino Beach Property Located South of Jacksboro Highway Bounded by
North Surfside Drive to the West and Lake Worth to the South and Adopt Project Plan for the Zone
(COUNCIL DISTRICT 7)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing concerning the designation of property located south of Jacksboro Highway
bounded by North Surfside Drive to the west and Lake Worth to the south, also generally known as
Casino Beach, as Tax Abatement Reinvestment Zone No. 83, City of Fort Worth, Texas;
2. Adopt the attached ordinance that designates property located south of Jacksboro Highway bounded
by North Surfside Drive to the west and Lake Worth to the south, also generally known as Casino Beach,
as Tax Abatement Reinvestment Zone No. 83, City of Fort Worth, Texas, pursuant to and in accordance
with Chapter 312 of the Texas Tax Code; and
3. Adopt the redevelopment plan attached to the ordinance as the project plan for the Zone.
DISCUSSION:
The proposed Tax Abatement Reinvestment Zone No. 83, City of Fort Worth, Texas (the Zone) is located
just south of Jacksboro Highway bounded by North Surfside Drive to the west and Lake Worth to the
south, an area generally known as Casino Beach. The exact boundaries of the proposed Zone are
described in Exhibit A of the attached ordinance. Casino Beach Partners, LLC, or an affiliate thereof
wishes to purchase property in the Zone and to redevelop that land into an entertainment destination
through a variety of public and private improvements including the construction of an amphitheater, event
center, concession facilities, public restrooms, restaurants, a bank, boat slips, a movie theater, marina
store, retail, office space and a variety of family entertainment options.
As required by Chapter 312 of the Texas Tax Code, a public hearing must be conducted regarding the
creation of the Zone. Notice of this public 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 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 if included in the Zone and to the City after any Agreements which may be entered
Logname: 17RZCASINOBEACHLAND Page I of 2
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. Designation of the Zone does not require that
the City grant a tax abatement on property or improvements located in the Zone. However, designation of
the Zone and adoption of the project plan for redevelopment of the Zone, as set forth in Exhibit B of the
attached Ordinance, will allow the City to sell City -owned property in the Zone pursuant to Section
272.001(b)(6), Texas Local Government Code.
The proposed Zone is located in COUNCIL DISTRICT 7.
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
Fernando Costa (6122)
Jay Chapa (5804)
Robert Sturns (8003)
Marguerite Allen (2235)
Logname: 17RZCASINOBEACHLAND Page 2 of 2