HomeMy WebLinkAboutIR 9035INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9035
To the Mayor and Members of the City Council April 14, 2009
T
Page 1 of 1
SUBJECT: Review of Neighborhood Empowerment Zone Tax Abatement
.„, For Property Located at 1506 e Avenue
The purpose of this Informal Report is to provide City Council with information regarding a proposed
Neighborhood Empowerment Zone (NEZ) residential tax abatement.
Chapter 378 of the Texas Local Government Code provides that a municipality can offer an abatement of
municipal property taxes for properties located in a NEZ.
1506 6`h Avenue
Shawn Fite (Property Owner) is the owner of the property described as Lot 2, Block 7, Loyds Addition, an
Addition to the City of Fort Worth, Tarrant County, Texas, according to the Max thereof recorded in
Volume 106, Page 10, of the Map Records of Tarrant County, Texas, at 1506 6 Avenue, Fort Worth,
Texas 76104. The property is located within the Magnolia Village NEZ, the Fairmount Historic District,
and Council District 9. On March 9, 2009, the Historic and Cultural Landmarks Commission approved the
construction plans for a single family residential structure (Project) that will be approximately 1900 square
feet in size at 1506 6d' Avenue. The Property Owner applied for a five -year municipal property tax
abatement under the NEZ Tax Abatement Policy and Basic Incentives (Resolution No. 3487, 05- 2007).
The Housing and Economic Development Department reviewed the application and certified that the
Project met the eligibility criteria to receive a NEZ municipal property tax abatement. The Property Owner
plans to invest an estimated $103,500.00 to construct the Project to be sold as a primary residence.
The municipal property tax on the improved value of the single family residential structure after
construction is estimated at $884.93 per year, for a total of $4,424.63 over the five -year period. However,
this estimate may differ from the actual tax abatement value, which will be calculated based on the Tarrant
Appraisal District appraised value of the property.
In the event of a sale of this property and Project, the agreement may be assigned without subsequent City
Council approval to the owners' first mortgagee or to a homebuyer who will use the required improvements
as their primary residence. All other assignments must be approved by the City Council
Staff recommends proceeding with placing the tax abatement on the April 21, 2009, City Council agenda
for consideration by City Council.
If you should have any questions regarding this information please contact Cynthia Garcia, Assistant
Director, Housing and Economic Development department as 817 -392 -8187.
Dale A. Flaseler, P.E.
City Mang
Atta
Map & Elevations
ISSUED BY THE CITY MANAGER FORT wnaTM TCVAO
mm
ALL SAINTS
ATE �
1
al
�t
it
¢j
t
t
f
rr
'J
1mo* 1
b
of
11 A
7
W
tt
THE
PLAN
"I"ll GRAM
VIC"
F-, CTORY
i
INFORMAL REPORT TO CITY COUNCIL MEMBERS
=
To the Mayor and Members of the City Council April 14, 2009
"'T`" Page 1 of 1
SUBJECT: Proposed Council - Initiated Zoning Changes for a Portion of the
Marine Park Neighborhood and the Historic Marine Urban Village
The April 14 City Council agenda contains an M &C to initiate the zoning process for the portion of
the Marine Park neighborhood that lies east of N. Main Street, south of NE 10 Street, west of N.
Grove Street, and north of E. Northside Drive. The purpose of the proposed zoning changes is to
rezone single family residential and commercial property to zoning classifications that reflect the
prevailing lot size and the urban village designation.
For your reference, the attached PowerPoint presentation shows the future land use from the
Comprehensive Plan, the current zoning, and the proposed zoning. Council Member Espino would
like to initiate rezoning of these areas in response to neighborhood concerns.
Council Member Espino held a series of informational meetings for this portion of the Marine Park
neighborhood from 2005 to 2007. No opposition has been expressed to date.
The public hearings for the rezoning of these properties would be held on May 13 at the Zoning
Commission meeting and at the City Council meeting of June 2.
If you have any questions, please contact Dana. Burghdoff, Deputy Planning and Development
Director, at 817 -392 -8018.
-- �0. -�: � / �'. '/
Aft- Dale A. Fisseler, P.E.
City Manager
attachment. PowerPoint presentation
r�qr w-n Rv Twt- ctTv umuarr-Q FnRT wnaTw TVYAAc
PROPOSED COUNCIL - INITIATED
ZONING CHANGES FOR A PORTION
OF THE MARINE PARK NEIGHBORHOOD
FORT WORTH
Prepared for the
City Council
By the
Planning and Development Department
April 14, 2009
PURPOSE
Provide a briefing on the proposed Council- initiated
rezoning of 17 acres of property from various
residential and industrial districts to B Two - Family, E
Neighborhood Commercial, and PD Planned
llnval nr�mnnt
3
Where is the proposed rezoning area?
. ,
'14% J^ 1
Note: The proposed rezoning area consists of a total of 148 properties.
What future land
use is designated in the
2009 Comprehensive
Plan?
OSire- Family
Residential
Institutional
Neobwhood
commemial
Ligm Industrial
+
[:3His*ofc Malt
Utb*t Vige
- � f
IM
What is the current zoning?
proposed zoning?
I
A-S: One Family
ED�s
B: Two - Family
B: Two Family
tt
Conn waw
J: Medium
za ,
® PD: Manr»d
Industrial
D HWIO— Marini
PD: Planned
Development
Ufbw
QHistoric Marine
t4
Urban Village
rJ
What is the
proposed zoning?
I
ED�s
B: Two - Family
D E: Neighborhood
tt
Conn waw
® PD: Manr»d
D HWIO— Marini
Ufbw
8-01
I
Date
Action
2005-2007
Property owners attend public information meetings
and express support for zoning changes.
April 14
City Council receives Informal Report on proposed
zoning changes.
April 14
City Council approves ML&C authorizing initiation of
zoning changes.
May 13
Zoning Commission conducts public hearing and
makes recommendations on proposed zoning changes.
June 2 City Council conducts public hearing and approves
zoning changes.
N
Q
11