HomeMy WebLinkAboutOrdinance 17644-07-2007ORDINANCE NO. 17644-07-2007
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER SIXTY, CITY OF FORT
WORTH, TEXAS"; PROVIDING THE EFFECTIVE AND
EXPIRATION DATES FOR THE ZONE AND A MECHANISM
FOR RENEWAL OF THE ZONE; AND CONTAINING OTHER
MATTERS RELATED TO THE ZONE.
WHEREAS, pursuant to the City Council's adoption on June 13, 2006 of
Resolution No. 3363-06-20062 (M&C G-15213), as subsequently amended, the City of
Fort Worth, Texas (the "City") has elected to be eligible to participate in tax abatement,
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, pursuant to the City Council's adoption on December 20, 2005 of
M&C G-15045 (the "Relocation Incentives Policy"), the City has included tax
abatement as one of the incentives that may be made available to businesses that are
displaced and must relocate due to a Major Public Infrastructure Project, as that term is
defined in the Relocation Incentives Policy; and
WHEREAS, pursuant to the City Council's adoption on July 18, 2006 of
Resolution No. 3390-07-2006, the City Council has found that the Trinity River Uptown
Project, as defined in Resolution No. 3390-07-2006, is a Major Public Infrastructure
Project and that, therefore, businesses that are displaced and must relocate on account of
the Trinity River Uptown Project are eligible for incentives pursuant to and in accordance
with the Relocation Incentives Policy; and
Page 1
Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty,
City of Fort Worth, Texas
WHEREAS, G.A.S. International, Inc. ("Company") currently operates its
business on property located at 921 N. Henderson Street; and
WHEREAS, Company has been notified by Tarrant Regional Water District that
Company will be displaced by the Trinity River Uptown Project; and
WHEREAS, Company desires to relocate its business to property located in the
vicinity of McCart Avenue and Monda Street, as more specifically described in Exhibit
"A" of this Ordinance (the "Zone"), which is located within that area of the City defined
by the Relocation Incentives Policy as Area 2; and
WHEREAS, as a result of Company's relocation to the Zone, Company qualifies
for tax abatement under the Relocation Incentives Policy; and
WFIEREAS, on June 11, 2007 Company applied for a real property tax
abatement and certain other incentives from the City under the Relocation Incentives
Policy; and
WHEREAS, Company will need to make certain improvements to the property
within the Zone in order to operate its business there, which improvements are more
specifically described in Company's Relocation Incentives Application (collectively, the
"Improvements"); and
VVIPEREAS, on July 10, 2007 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
Page 2
Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty,
City of Fort Worth, Texas
WETEREAS, notice of the Public Hearing was published in a newspaper of
general circulation in the City on July 2, 2007, 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 COUNCH, 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:
l.l. 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.
Page 3
Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty,
City of Fort Worth, Texas
1.2. Once Company has completed the Improvements to the property within the Zone,
Company will be able to retain the 15 current employees that Company now
employs at the location from which it is being displaced.
1.3. Designation of the Zone as a reinvestment zone will enable Company to receive a
real property tax abatement that will assist Company in offsetting costs it must
incur solely due to its displacement by the Trinity River Uptown Project and will
cause Company to redevelop property in the Zone for commercial purposes that
would not otherwise occur. Therefore, 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.
1.4. The Improvements proposed for the Zone, as more specifically outlined in
Company's Relocation Incentives Application and the Public Hearing and which
will be made pursuant to a tax abatement agreement with Company that must
subsequently be approved by the City Council, are feasible and practical and,
once completed, will benefit the land included in the Zone as well as the City for
a period in excess of ten (10) years, which is the statutory maximum term of any
tax abatement agreement entered into under the Chapter 312 of the Code.
Page 4
Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty,
City of Fort Worth, Texas
Section 2.
DESIGNATION OF ZONE.
That the City Council hereby designates the Zone described in the boundary
description attached hereto as Exhibit "A" and made a part of this Ordinance for all
purposes as a reinvestment zone for purposes of granting a real property tax abatement,
as authorized by and in accordance with Chapter 312 of the Code. This Zone shall be
known as "Tax Abatement Reinvestment Zone Number Sixty, City of Fort Worth,
Texas." This project is eligible for commercial/industrial tax abatement pursuant to the
Relocation Incentives Policy.
Section 3.
TERM OF ZONE.
That the Zone shall take effect upon the effective date of this Ordinance and
expire five (5) years thereafter. The Zone may be renewed by the City Council for one or
more subsequent terms of five (5) years or less.
Section 4.
SEVERABILITY.
That if any portion, section or part of a section of this Ordinance is subsequently
declared invalid, inoperative or void for any reason by a court of competent jurisdiction,
the remaining portions, sections or parts of sections of this Ordinance shall be and remain
in full force and effect and shall not in any way be impaired or affected by such decision,
opinion or judgment.
Page 5
Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty;
City of Fort Worth, Texas
Section 5.
IlVIlVIEDIATE EFFECT.
That this Ordinance shall take effect upon its adoption.
AND IT IS SO ORDAINED.
ADOPTED AND EFFECTIVE: July 10, 2007
APPROVED AS TO FORM AND LEGALITY:
By:_L~~~!Z.
Peter Vaky ~
Assistant City Attorne
M&C: G-15778
Page 6
Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty,
City of Fort Worth, Texas
EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE
STATE OF TEXAS §
COUNTY OF TA,RRANT §
WHEREAS, Tandy Corporation/Radio Shack, being the owners of the following
described property to-wit:
BEING a portion of the Elijah Sutherland Survey, Abstract #1438, Tarrant
County, Texas and being all that land described in Warranty Deed conveyed to
Tandy Corporation as recorded in Volume 8931, Page 2280, Deed Records,
Tarrant County, Texas and being described by metes and bounds as follows:
BEGINNING at a point in the west right-of--way line of McCart Avenue for the
northeast corner this tract, and from which point the northeast corner of the said
Elijah Sutherland Survey bears East 37.5 feet, and North 1381 feet by deed call;
THENCE South 00° - 06' - 30" East, along the west right-of--way line of said
McCart Avenue, a distance of 600.20 feet to a 1/2" iron pin in concrete found for
the southeast corner of this tract;
THENCE South 89° - 54' - 28" West, a distance of 279.76 feet to a 1/2" iron pin
in concrete found for a corner of this tract;
THENCE North 00° - OS'' - 53" West, a distance of 179.94 feet to a 1/2' iron pin in
concrete found for a corner of this tract;
THENCE WEST, a distance of 409.73 feet to a 3/4" iron pin found for the
southwest corner of this tract;
THENCE North 00° - 10' - 53" West, a distance of 351.67 feet to a 1" iron pin
found for the northwest corner this tract, said pin being in the southerly right-of-
way line of the St. Louis and San Francisco, and the Gulf-Colorado and Santa Fe
Railroad;
THENCE along said right-of--way line, parallel with and 50 feet from the said
track center:
North 71° - 20' - 53" East, 99.15 feet to a 1/2" iron pin set;
North 77° - 13' - 30" East, 100.00 feet to a 1/2" iron pin set;
North 83° - O1' - 30" East, 100.00 feet to a 1/2" iron pin set;
North 87° - 53' - 30" East, 66.60 feet to a 1/2" iron pin set;
Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty,
City of Fort Worth, Texas
THENCE continuing along said railroad right-of--way North 89° - 53' - 30" East,
at 326.50 feet pass a 1/2" iron pin set, continuing in all a distance of 332.50 feet to
the PLACE OF BEGINNING and containing 7.6159 acres of land.
Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty,
City of Fort Worth, Texas
Tax Abatement Reinvestment Zone 60
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Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty,
City of Fort Worth, Texas
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Economic & Community Devevlopment
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Ordinance Designating Tax Abatement Reinvestment Zone Number Sixty,
City of Fort Worth, Texas
City of Fort VI/orth, 7°exas
Mayor and Council Communication
COUNCIL ACTION: Approved on 7/10/2007 -Ord. No. 17644-07-2007
DATE: Tuesday, July 10, 2007
LOG NAME: 17SZGASRIZ REFERENCE NO.: G-15778
SUBJECT:
Conduct Public Hearing and Adopt Ordinance Designating Tax Abatement Reinvestment Zone No.
60, City of Fort Worth, Texas, in the Vicinity of McCart Avenue and Monda Street
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a public hearing concerning the designation of Tax Abatement Reinvestment Zone No. 60, City of
Fort Worth, Texas; and
2. Adopt the attached ordinance that designates Tax Abatement Reinvestment Zone Number 60, City of
Fort Worth, Texas, pursuant to and in accordance with Chapter 312 of the Texas Tax Code.
DISCUSSION:
The proposed Reinvestment Zone No. 60, City of Fort Worth, Texas (Zone) is in south Fort Worth in the
vicinity of McCart Avenue and Monda Street, which is in COUNCIL DISTRICT 9. The exact boundaries of
the proposed zone are described in Exhibit A of the attached ordinance. G.A.S. International Inc., which
currently operates its business at 921 North Henderson Street, is being displaced due to the Trinity River
Uptown Project and is relocating to the proposed zone. Pursuant to Resolution No. 3390-07-2006, the
Trinity River Uptown Project has been designated by the City Council as a "Major Public Infrastructure
Project." As such, businesses displaced by that Project are eligible to receive incentives, including tax
abatement, under the City's Relocation Incentives Policy.
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 hearing was (1) delivered to the governing body of each affected taxing
unit; and (2) published in a newspaper of general circulation at least seven days prior to this hearing.
The area encompassing the proposed Zone meets the statutory criteria for designation as a tax abatement
reinvestment zone set forth in Chapter 312 of the Texas Tax Code in that the area is reasonably likely, as a
result of the designation, to contribute to the retention or expansion of primary employment or to attract
major investment in the Zone that would be a benefit to the property and that would contribute to the
economic development of the City. Further, the improvements sought in the Zone are feasible, practical
and would be a benefit to the land to be included in the Zone and to the City after any tax abatement
agreements which may be entered into have expired.
The term of the proposed Zone will be five years from the date of adoption of the attached ordinance and
may be renewed for periods not to exceed five years each.
This project is located in COUNCIL DISTRICT 9.
Logname: 17SZGASRIZ Page 1 of 2
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that this action will have no material effect on city funds.
TO 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: Mark Folden (8634)
Logname: 17SZGASRIZ Page 2 of 2
Tax Abatement Reinvestment Zone 60
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Economic & Community Devevlopment
Copyright 2007