HomeMy WebLinkAboutIR 87450
INFORMAL REPORT TO CITY COUNCIL MEMBERS
To the Mayor and Members of the City Council
No- 8745
Date:
February 7, 2006
Page 1 of 1
Resolution Endorsing the Woodhaven Neighborhood Redevelopment
Plan and Directing Staff to Pursue the Development through a Private -
Public Partnership
On October 26, 2004, City Council approved M &C C- 20369, authorizing the City Manager to
execute a contract with Gideon Toal, Inc. for the creation of a Woodhaven Master Development
Plan. Subsequently, on June 28, 2005, Gideon Toal, Inc. presented to the City Council a draft
of the findings and recommendations related to the Woodhaven Master Development Plan.
Since this presentation City Staff has been working with Gideon Toal to finalize the Plan and
identify potential development partners to pursue the project. In order for Staff to move forward
working with any potential development partners, the consultant's plan must be approved by
the City Council, as specified in the agreement, before the work on the plan can be considered
complete.
Attached is the final document outlining the comprehensive vision for the Woodhaven
Neighborhood. The plan addresses the challenges and opportunities currently present in the
area along with much background data and market information related to the area's potential
for development and redevelopment. The recommendations provide an outline of an action
plan that encourages the private and public sector to partner in order to make the plan a
reality. This partnership is necessary since a major component of the action plan is the
development of a catalyst project that will stabilize the neighborhood's property values as well
as provide a focus for redevelopment to occur. A large obstacle to the development of the
catalyst project is the "financial gap" that exists. The project involves acquisition and demolition
of buildings in an established area where the market conditions do not support those costs --
costs which would not exist if this development were to occur on a greenfield site. For this
reason, the Plan suggests that the City can participate in the redevelopment effort through the
use of economic development incentives.
City staff agrees that the use of economic development incentives is appropriate once a
developer is found to undertake the project so that the most appropriate incentive tool can be
utilized that matches the proposed project. In order to proceed with the development of the
plan, staff would like to have the City Council accept the plan and endorse the potential use of
incentives in order to show the City's commitment to the redevelopment.
Consequently, a presentation on the Plan will be given during the Pre - Council Meeting on
February 7, 2006. Additionally, a resolution for City Council consideration to accept the
Woodhaven Master Development Plan and endorse the use of incentives is included in this
packet and will be on the Council agenda for February 14, 2006.
Charles R. Boswell
City Manager
Attachment
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS
F.A1F_'.?-.Tr*TfTrf "M,
NO.
ENDORSING THE WOODHAVEN NEIGHBORHOOD REDEVELOPMENT PLAN
AND DIRECTING STAFF TO PURSUE THE DEVELOPMENT THROUGH A
PRIVATE-PUBLIC PARTNERSHIP
WHEREAS, the City Council of the City of Fort Worth (the "City Council")
previously approved a Professional Services Agreement (M&C C-20369) with Gideon
Toal, Inc. for the creation of a Woodhaven Master Development Plan (the "Plan"); and
WHEREAS, pursuant to the contract requirements Gideon Toal, Inc has completed
the Plan which outlines development and redevelopment opportunities in the Woodhaven
area of the City, along with proposed costs and density recommendations; and
WHEREAS, the terms of the contract requires the City Council to approve the Plan
before it is considered complete; and
WHEREAS, the Plan recommends, among other things, development of a
neighborhood center for Woodhaven (the "Neighborhood Center"), which would be the
catalyst development needed to spur development and redevelopment in Woodhaven; and
WHEREAS, the Plan anticipates that the Neighborhood Center will not develop
solely through private sector investment and recommends that a public-private partnership
between the City and a private sector developer be created to fulfill this development
need; and
WHEREAS, the City's general practice has been to participate financially in
economic and community development opportunities through incentive programs that
utilize or are based on the future incremental tax revenue from the new development
anticipated in order to help address a "financial gap" that may exist in the development:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS THAT:
1. The City Council hereby endorses the Woodhaven Neighborhood Redevelopment Plan,
as created by Gideon Toal, Inc.
2. The City Council hereby requests that the City staff negotiate a public-private
partnership for implementation of the goals outlined in the Plan by means of any of the
City's available economic and community development incentive tools, as City staff
deems appropriate and feasible, including, but not limited to, tax abatement and tax
increment financing.
4CII111111TV or reltv W*Alrst