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HomeMy WebLinkAboutContract 38922AGREEMENT TO PARTICIPATE IN TAX INCREMENT REINVESTMENT ZONE NUMBER TWELVE, CITY OF FORT WORTH, TEXAS (EAST BERRY RENAISSANCE TIF) This AGREEMENT TO PARTICIPATE IN TAX INCREMENT REINVESTMENT ZONE NUMBER TWELVE, 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 July 18, 2006, the City Council of the City ("City Council") adopted City Ordinance No. 17061-07-2006 designating certain real property located in the southeastern portion of the City in the vicinity of the East Berry and Riverside Drive intersection as Tax Increment Reinvestment Zone Number Twelve, City of Fort Worth, Texas, (the "TIF District"). The TIF District is informally known as the "East Berry Renaissance TIF". Ordinance No. 17061-07-2006 is hereby incorporated by reference for all purposes and is 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 public infrastructure for East Berry and for private development projects will be funded. 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 conditions set forth herein, the sufficiency of which is hereby acknowledged, the City and the Water District do hereby contract, covenant and agree as follows: 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. f - Water District Participation Agreement re: Berry Street TIF�t �I1► tl^ Page 1 4 WORTH, TX 2. DEFINITIONS. In addition to any terms defined in the body of this Agreement, the following terms 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. Proiect 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. TIF Board means the governing board of directors of the TIF District appointed in accordance with Section 311.009 of the Act and Section 3 of City Ordinance No. 17061-07-2006. TIF District means the certain real properties and boundaries as described in City 17061-07-2006. 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, 2006 of all rcal 'property taxable by the Water District and located in the TIF District. Tax Increment Fund means that fund created by the C4y. pursuant to Section 311.014 of the Act and Section 6 of City Ordinance No. 17061-07-2006, which will be maintained by the City, into which all revenues of the TIF District will be deposited, including 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. TIF Ordinance means City Ordinance No. 17061-07-2006, attached hereto as Exhibit "A". 3. DEPOSIT OF TAX INCREMENT. Pursuant to a Resolution duly adopted by the governing body of the Water District, which Resolution is attached hereto as Exhibit "B" 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, Water District Participation Agreement re: Berry Street TIF Page 2 beginning with the 2007 tax year, one hundred percent (100%) of the Water District's Tax Increment into the Tax Increment Fund. Such deposits shall be made in accordance with the City's standard administrative procedures relative to all tax increment reinvestment zones administered by the City, 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. 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. 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 infrastructure improvements or other public improvements as set forth and identified in the Project Plan, and shall not include any costs for administration, overhead, or management of the TIF District, or costs for municipal or educational facilities owned by a school district. 4.2. 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 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. 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, 2027 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 Water District Participation Agreement re: Berry Street TIF Page 3 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, shall be apportioned comparatively with 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 parry or address as either party may subsequently designate in writing, by certified mail, postage prepaid, or by hand delivery: City: City of Fort Worth Attn: City Manager 1000 Throcl=orton Fort Worth, TX 76102 with copies to: the City Attorney and Economic/Community Development Director at the same address 9. NO WAIVER. Water District: Tarrant Regional Water District Community & Government Relations Director P.O. Box 4508 Fort Worth, TX 76164 The failure of either party to insist upon the performance of any term 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 performance 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. Water District Participation Agreement re: Berry Street TIF Page 4 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. 12. FORCE MAJEURE0 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, strikes, 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. 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 AGREEMENT. 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 maybe executed in multiple counterparts, each of which shall be considered an original, but all of which shall constitute one instrument. Water District Participation Agreement re: Berry Street TIF Page 5 EXECUTED as of the later date below: CITY OF FORT WORTH, TEXAS: By: Tom Higgins Assistant City Manager Date: 3ae29 ATTEST: By: City Secretary APPROVED AS TO FORM/LEGALITY: By: U Leann D. Guzmg Assistant City Attorney TARRANT REGIONAL WATER DISTRICT: Name: President Board of Directors Date: ATTEST: By: Name: Title: �'�F�tC1AL RECC�t� Water District Participation Agreement :f;ITY SECRETARY I re: Berry Street TIF i age 6 TU �I ORTH, TX P- TRWD Berry Street TIF Exhibit A Page 1 of 13 ORDINANCE NOa l l uvx-07-Z006 AN ORDINANCE DESIGNATING A CERTAIN CONTIGUOUS GEOGRAPHIC AREA IN THE CITY OF FORT WORTH AS "TAX INCREMENT REINVESTMENT ZONE NUMBER TWELVE, 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 land in that 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 Financingcodified at Chapter 311 of the Texas Tax Code (the "Code"); and WHEREAS, on or about May 12, 200b the City provided written notice to the governing body of each faxing unit that levies real property taxes in the proposed Zone of (i} the City's intent to establish the Zone; 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 W)EIEREAS, in accordance with the requirement imposed by Section 311.003(e} of the Code, the City provided such written notice more than sixty (60) days prior to the date of the public hearing conducted pursuant to Section 311.003(c) of the Code; and WHEREAS, the City has prepared preliminary project and financing plans for the proposed Zone and provided a copy of those plans 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 Code (the "Preliminary Plains"); and Page 1 Ordinance Designating xax Increment Reinvestment Zone Number Twelve, City o£Fort Worth, Texas TRWD Berry Street TIF Exhibit A Page 2 of 13 WHEREAS, in accordance with Section 311.003(i) of the Code, on June 13, 2006 the City made a single format presentation to the governing body of each county and school district that levies real property taxes in the proposed Zone, as agreed to in writing by the Fort Worth Independent School District, 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 Zane; and (iii) an estimate of the general impact of the Zone on property values and tax revenues; and WHEREAS, on July 18, 200ti the City Council held a public hearing regarding the creation of the Zone and its benef is to the City and to property in the Zone and afforded a reasonable opportunity for (i) all interested persons to speak fox ox against the creation of the Zone, its boundaries or the concept of tax increment financing and (ii} owners of real property in the proposed Zone to protest inclusion of their property in the Zane, as required by Sections 311.003{c) and (d) of the Code; and WHEREAS, notice of the public hearing was published in a newspaper of general circulation in the City on July 10, 2006, which satisfies the xequiremezat of Section 311.003{c) of the Code that publication of the notice occur not later than the seventh day before the date of the public hearing; NOW, THEi2EFORE, BE IT ORDAINED BY THE CITY COTJNCIL OF THE CITY OF FORT WORTH, TEXAS: • Page 2 Ordinance Designating Tax Increment Reinvestment Zone Number Twelve, City of Fort Worth, Texas TRWD Berry Street TIF Exhibit A Page 3 of 13 Section 1. FIitFDINGS0 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 proposed Zone to protest inclusion of (heir 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 established by the Cade for creation of a reinvestment zone under the Code. 1.2. The Zone consists of approximately 604 acres of land and the area within the Zane is contiguous. 1.3. The overall existing properties within the Zone are depressed and the area encompassed by the Zone has been in a general state of economic decline for the past twenty-five years. 1.4. The Zone contains a substantial numbex of substandard and deteriorating apartments and other structures in need of demolition. Certain properties located in the Zone will require environmental remediation before new development can occur. i..5. The Zone lacks essential infrastructure to sustain viable development, including but not limited to, water, sewer, drainage, roads and sidewalks. Existing Page 3 Ordinance Designating Tax Increment Reinvestment Zone Number Twelve, City of Fort Worth, Texas TRWD Berry Street TIF Exhibit A Page 4 of 13 infrastructure was constructed over filly years ago and will not support additional development. 1.6. Based on the facts set forth in Sections 1.31 1.4 and 1.5 hereof, as well as on ail othVI information provided to and/or known by the City Council with respect to the area within the Zone and the area in the vicinity of the Zone, the City Council hereby finds that development of the Zone wilt not occur solely through private investment in the foreseeable future. 1.7. Taking all facts into consideration, the area within the Zone substantially impairs and arrests the sound growth of the City and constitutes an economic liability and a menace to the public health and safety because of (i) a substantial numbez of substandard, deteriorated and deteriorating structures; (ii} the pzedominance of inadequate sidewalk and street layouts; {iii) faulty Iot layout in relation to size, adequacy, accessibility and usefulness; (iv) unsanitazy and unsafe conditions; (v) the deterioration of si#e and other improvements; and (vi) conditions that endanger life and property by fire or 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(a)(1) of the Code. 1.8. No more than ten percent (101/4) or less of the property in the Zone is used currently for residential purposes, as specified by Section 311.006 of the Code. 1..9. 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 6y the City, if any. Page 4 p�dinance Designating Tax Increment Reinvestment ?..one Number Twelve, City of Fort Worth, Texas TRWD Berry Street TIF Exhibit A Page 5 of 13 1.10. The Zone does not contain more than fi wen percent (15°fo) of the total appraised value of real property taxable by any county or school district. Section 2, DESIGNATION QF NEW ZONE. That the City Council hereby designates the Zane described in the boundary description and depicted in the map, bath attached hereto as Exhibit "A" and made a part of This t�rdinance for all purposes, as a reinvestment zone pursuant to and in accordance with the Code. This reinvestment zone shall be known as "Tax Increment Reinvestment Zone l�iumber Twelve, City of Fort Worth, Texas" Section 3. f ►1 : ! ._ �_i i _ 1 �: riff lit�,7.� 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 (l)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. Page S Ordinance Designating Tax Increment Reinvestment ZoneTtumber Tweive, City of Tort WoKh, Texas TRWD Berry Street TIF Exhibit A Page 6 of 13 Section 4. TERM OF ZONE. That the Zone shall take of%et immediately upon the adoption of ibis Ordinance and terminate on the earlier of (i) December 31, 2027 or an earlier termination date designated by an ordinance adopted aflex the effective date of this Ordinance or (ii) the date on which ali pxoject costs, tax increment bonds and interest on those bonds have been paid or otherwise satisfied in full. Section S. DETERMINATION OF TAX INCREMENT BASE. That the tax increment base for the Zone, as defined by Section 311.fl12{c) of the Cade, shall be the total appraised value of all real property in the Zone taxable by a taxing unit as of January l , 2006, which is the year in which the Zone was designated as a reinvestment zone. Section 6. 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 Cade, that each taxing unit which levies real property taxes in the Zone, other than the City, has elected to dedicate to the TIF Fund pursuant to an agreement with the City authorized by Section Page 6 Ordinance Designating Tax Increment Reinvestment Zone Alumber Twelve, City of Fort 1Vorth, Texas TRWD Berry Street TIF Exhibit A Page 7 of 13, 3110013(f) of the Code, plus (II)me City contribution of one hundred percent (100%) of the Citys tax increment, as defined by Section 311.012{a) of the Code, subject to any binding agreement executed at any time by the City that pledges an amount of legally available City funds whose calculation is based, in whole or in part, on payment to or receipt by the City of any portion of such tax increment. 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 taw for Texas cities. Revenues in the TIF Fund will be used solely in accordance with Section 311.014 of the Code. Section 7. TAX INCREMI♦;NT AGREIt;MENTS. That, pursuant to Sections 311.00$ and 311.013 of the Code, the City Manager and City Attorney are hereby authorized to execute and deliver, far and on behalf of the City, tax increment agreements with taxing units that levy real property taxes in the Zone. Section 8. SE'trERABILITY. 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 7 Ordinance Designating Tax Increment Reinvestment ZoneNum6er Twelve, City of tort Worth, Texas TRWD Berry Street TIF Exhibit A Page 8 of 13 Section 9. I}4IMEDIATE EFFECT. That this Ordinance shall take effect and be in full force and effeei from and after its adoption. AND IT IS SO ORDAINED. ADOPTED AND EFFECTIVE: Jul�.>`8, 2006 APPROVED AS TO FORM AND LEGALITY: Peter Vaky Assistant City Attorney M&C: G-15299 Page 8 Ordinance Designating Tax Increment Reinvesdnent 7 ne Number Twelve, Cityo£rort worth, Texas TRWD Berry Street TIF Exhibit A Page 9 of 13 EXHIBIT "A" DESCRIPTION AND DEPICTION "r THE ZONE The tracts to be designated as Tax Increment Reinvestment Zone Number Twelve, City of Fort Worth, Texas for tax increment financing purposes are depicted in the accompanying map and are more particularly described by the following metes and bounds: Being a parcel of land out of, the J. Huie Survey, Abstract Number 669, the G. Hartzog Survey, Abstract Number 697, the J. Justice Survey, Abstract Number 859, the S.P. Loving Survey, Abstract Number 943, the W.R. Loving Survey, Abstract Number 948, the R.R. Ramey Survey, Abstract Number 1342, the A. Stinson Survey, Abstract Number 1413, the A. Thompson Survey, Abstract Number 1499, and the E.S. Terrell Survey, Abstract Number 1527, situated in the City of Fort Worth, Tarrant County and being more particularly described by metes and bounds as follows: BEGINNING at the intersection of the East right -of --way of Interstate Highway 35W and the North right -of --way of the T&P Railroad; THENCE: with the East right -of --way of said Interstate Highway 35W, North to the Southwest corner of Lot 16, Dobbins Subdivision; THENCE: with the South line of said Dobbins Subdivision, East to the Southeast corner of Lot 9, being in the West right -of --way of Evans Avenue; THENCE: South with the West right -of --way of said Evans Avenue to the projected intersection of the South line Block 3, Morningside Terrace Addition with said West right-of-way; THENCE: East with the South line of said Block 3 to and along the South line of Block 23 Morningside Terrace Addition, to the East right -of --way of Mississippi Avenue; THENCE: with the East right -of --way of said Mississippi Avenue, North to the intersection of said East right -of --way and the South right -of --way of Glen Garden Drive. THENCE: with the South right -of --way of said Glen Garden Drive to the Southwesterly right -of --way of Old Mansfield Road; THENCE: with the Southwesterly right -of --way of said Old Mansfield Road, Southeasterly to the intersection of the Southwesterly right -of --way of said Old Mansfield Road and the Northwesterly right -of --way of East Berry Street; Ordinance Designating Tax Increment Reinvestment Zone Number Twelve, City of Fort Worth, Texas TRWD Berry Street TIF Exhibit A Page 10 of 13 THENCE: with the Northwesterly and North right -of --way of said East Berry Street, Northeasterly and East to the intersection of the North right -of --way of said East Berry Street and the Southwesterly right -of --way of Vaughn Boulevard ; THENCE: Southeasterly with the Southwesterly right -of --way of said Vaughn Boulevard, and Southeasterly to the intersection of said Southwesterly right -of --way of Vaughn Street and the Northwesterly right -of --way of Wichita Street, THENCE: with the Northwesterlyright-of-way of said Wichita Street, Southwesterly and South to the Southeast corner of the Masonic Home School Addition; THENCE: with the South line of said Masonic Home School Addition, West to its Southwest corner and the Easterly right -of --way of Mitchell Boulevard; THENCE: with the Westerly line of said Masonic Home School Addition and the Easterly right-ofway of said Mitchell Boulevard, Northwesterly and North to the intersection of the East right-ofway of said Mitchell Boulevard and the South right -of --way of said East Berry Street and the Northwest corner of said Masonic Home School Addition; THENCE: with the South and Southeasterly right -of --way of East Berry Street, West and Southwest to the intersection of the Southerly right -of --way of East Berry Street and the Southwesterly right -of --way of said Old Mansfield Road; THENCE: with the Southwesterlyright-of--way of said Old Mansfield Road, Southeast to the No, corner of Block 4, O.D. Wyatt Addition; THENCE: West, Northwest, and Southwest with the North line of said Blocic 4 to the Northerly right-ofway of Briardale Road; THENCE: with said North right -of --way of Briardale Road, West to the Southeast corner of Block 1$, Rolling Hills Addition; THENCE: with the East line of said Block 18, North to its Northeast corner; THENCE: with the North line of said Block 18, West to its Northwest corner; THENCE: with the Westerly line of said Block 18, Southwesterly to the Southwest corner of said Block 18 and the Northwesterly right-ofway of said Briardale Road; THENCE: with the Northwesterly right-ofway of said Briardale Road, Southwesterly to the East corner of Block 17, Rolling Hills Addition; Ordinance Designating Tax Increment Reinvestment Zone Number Twelve, City of Fart Worth, Texas TRWD Berry Street TIF Exhibit A Page 11 of 13 THENCE: with the Northeasterly line of said Block 17, Northwesterly to its North most Northeast corner; THENCE: with the North and Northwesterly line of said Block 17, West and Southwesterly to the Northwest corner of said Block 17, the Southwest corner of a 2.54 acre tract of land out of the S.P. Loving Survey, Abstract Number 943, as conveyed to the International Association of Black Professional Fire Fighters as recorded in Volume 14013, Page 423, Deed Records, Tarrant County, Texas, and the East right-of-way of South Riverside Drive; THENCE: with the East right -of --way of said South Riverside Drive and the West line of said 2.54 acre tract of land, North to the Northwest corner of said 2.54 acre tract of land; THENCE: Northwesterly to the West right -of --way of said South Riverside Drive, the Southeast corner of a 0.03 acre tract of land out said J.P. Loving Survey; THENCE: with the South line of said 0.03 acre tract of land, West to the East most corner of Lot 4, Berry Industrial Park Addition; THENCE: with the meanders of the South line of said Lot 4, Southwesterly, Westerly and Northwesterly to the West line of said Lot 4 and the East right -of --way of Yuma Street; THENCE: with the East right -of --way of said Yuma Street, South to the Southeast corner of said right -of --way and the North line of a 5.65 acre tract of land out of said J.P. Loving Survey; THENCE: with the North line of said 5.65 acre tract of land, East to the Northeast corner of a 1 b.50 acre tract of land out of said J.P. Loving Survey and the West corner of Block 2, River Bend Condos; THENCE: with the Northeasterly line of said 16.50 acre tract of land and the Southwesterly line of said Blocic 2, Southeast to the Southwest corner of said Block 2 and the Northwest corner of a 1.27 acre tract of land out of said J.P. Loving survey as conveyed to Sininian Development in Volume 16020, Page 132, Deed Records, Tarrant County, Texas; THENCE: with the South line of said Block. 2 and the North line of said 1.27 acre tract of land, East to the Southeast corner of said Block 2, the Northeast corner of said 1.27 acre tract of land and the West right -of --way of said South Riverside Drive; Ordinance: Designating Tax Increment Reinvestment Zone Number Twelve, City of Fort Worth,'fexas TRWD Berry Street TIF Exhibit A Page 12 of 13 THENCE: with the East line of said I I acre tract of land, and the West right -of --way of said South Riverside Drive, Southeasterly to the Northeast corner of Block A, Grace Temple Addition; THENCE: with the North line of said Block A, West to the Northeasterly right-of- way of the T&P Railroad; THENCE: with the Northeasterly right -of --way of said T&P Railroad, Northwesterly to the intersection of the said Northeasterly right -of --way of the T&P Railroad and the West right-ofway of the International & Great Northern Railroad, and the Southeast corner of Lot 36, Block 4, Morningside Park Addition; THENCE: with the Westerly right -of --way of said International &Great Northern Railroad and the Southeasterly line of said Block 4, Morningside Park Addition, Northeasterly to the South corner of the John Randol Addition; THENCE: with the East line of said Block 4, Morningside Park Addition and the West line of said Block 2, John Randol Addition, North to the Northwest corner of said Block 2, and being in the West right -of --way of Mississippi Avenue; THENCE: with the East line of said Block 4, Morningside Addition and the West right-of-way of said Mississippi Avenue, North to the North most Northeast corner of Lot 5, said Block 4, Morningside Addition and the South right-ofway of an alley; THENCE: with the South right -of --way of said alley, West to the Northwest corner of Lot 1, Block 2, said Morningside Park Addition, and the East right -of --way of Evans Avenue; THENCE: West to the West right -of --way of said Evans Avenue, the Southeast corner of Lot 1, Block A, and the Northeast corner of Lot 1, Block 1, said Morningside Park Addition; THENCE: with the South line of said Lot 1, Block A, and the North line of said Lot 1, Block 1, West to the Northwest corner of said Lot 1, Block l; THENCE: with the West line of said Block 1, Morningside Park Addition, South to the North right -of --way of said T&P Railroad; THENCE: with the North right -of --way of said T&P Railroad, Northwesterly to the place of beginning, and containing same 3,970 acres of land. Nate: This exhibit prepared under 22 TAC § 663.21, does not reflect the results of an on the ground survey, and is not to be used to convey or establish interest in real property except those rights and interest implied by the creation or reconfiguration of the boundary of the political subdivision for which it was prepared. Ordinance Designating Tax Increment Reinvestment Zone Number Twelve, Gity of Fort Worth, Texas v - 3J"rf TRWD Berry Exhibit B Page 1 of 1 Street TIF RESOLUTION OF THE BOARD OF DIRECTORS OF TARRANT REGIONAL WATER DISTRICT December 18, 2007 WHEREAS, Tarrant Regional Water District desires to participate in the Woodhaven IF created by the City of Fort Worth to provide tax increment financing for infrastructure development to support economic development in Fort Worth; and WHEREAS, the District desires to appoint Linda Christie as the District's representative to Tax Increment Reinvestment Zone 13 (Woodhaven); and WHEREAS, pursuant to Section 311.013(f) of the Texas Tax Code, the District is not required to pay any tax increment into the tax increment funds of TIF 12 (East Berry Corridor) or TIF 13 (Woodhaven) unless it enters into satisfactory agreements with the City of Fort Worth; and WHEREAS, the District desires to enter into such participation agreements with the City. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE TARRANT REGIONAL WATER DISTRICT 1. That the District shall participate in Tax Increment Reinvesiment Zone 13 (Woodhaven) and that Linda Christie shall serve as the board representative until such time as another representative is named by the District's Board of Directors. 2. That Linda Christie should be and is hereby authorized to negotiate participation agreements with the City of Fort Worth for the Board President's signature for both TIF 12 (East Berry Corridor) and TIF 13 (Woodhaven) that are in the best interest of the District. PASSED, APPROVED AND ADOPTED THIS 18Tx DAY OF DECEMBER, 2007. T T REGIONAL ATER DISTRICT Victor W. Hen erson President, Boar Directors ATTEST: