HomeMy WebLinkAboutOrdinance 24304-08-2020 ORDINANCE NO. 24304-08-2020
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER ONE HUNDRED, 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 January 29, 2019 of
Resolution No. 5040-01-2019 (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")
through the creation of a reinvestment zone for purposes of granting a business expansion
tax abatement, as authorized by and in accordance with Chapter 312 of the Code; and
WHEREAS, Ariat International, Inc. ("Company") wishes to expend or cause to
be expended at least$43 million in real property improvements for the occupancy of a new
regional distribution hub and corporate office to be located in the Zone, and Company
intends to install taxable tangible business personal property worth $30 million at the
facility that ultimately will result in a combined real and personal property investment of
at least$73 million (collectively,the "Improvements"); and
Page 1
Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred,
City of Fort Worth,Texas
WHEREAS, Company has applied for real and business personal property tax
abatements from the City in return for the installation of the Improvements in the Zone and
compliance with certain other employment and spending commitments that will foster
economic development in the Zone and the City in general; and
WHEREAS, on August 4, 2020 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 July 27"', 2020, 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),of the Code 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:
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Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred,
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:
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 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 of more than ten (10)years,
which is the statutory maximum term of any tax abatement agreement entered into
under the Chapter 312 of the Code.
1.3. 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.
Page 3
Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred,
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 business expansion 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 One Hundred,City of Fort
Worth, Texas." This project is eligible for commercial/industrial tax abatement pursuant
as a Target Industry (Corporate and Regional Headquarters), as defined in and in
accordance with Section 4 of the Tax Abatement 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 not to exceed five years.
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
Page 4
Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred,
City of Fort Worth,Texas
in full force and effect and shall not in any way be impaired or affected by such decision,
opinion or judgment.
Section 5.
IMMEDIATE EFFECT.
That this Ordinance shall take effect upon its adoption.
ADOPTED AND EFFECTIVE: August 4, 2020
APPROVED AS TO FORM AND LEGALITY:
vJ Pl r�
B :Tyer Wallach(Aug 19,2020 10:41 CDT)
Senior Assistant City Attorney Mary J. Kayser, City Secretary
M&C: 20-0496
OF FoRTGL
2
�XAS
Page 5
Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred,
City of Fort Worth,Texas
EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE
BEING a tract of land situated in the A. King Survey, Abstract No. 710, the W. Sample Survey,
Abstract No. 1207,the L. Butler Survey, Abstract No. 64, and the A. Robertson Survey, Abstract
No. 1553, Denton County, Texas and being part of that certain tract of land described by deed to
M.T. Cole Family Partnership Number 2, LP, recorded in Instrument Number 2009-102749,
Deed Records, Denton County, Texas, said tract of land being more particularly described by
metes and bounds as follows:
COMMENCING at a point in the northerly right-of-way line of F.M. 156 (variable width public
right-of-way), recorded in Instrument Number 2007-110923, Deed Records, Denton County,
Texas, the southeast corner of Lot 4, Block 1, Dave Addition, an addition to the City of Fort
Worth, according to the plat recorded in Instrument Number 2018-152, Plat Records, Denton
County, Texas, in a non-tangent curve to the left having a central angle of 15°36'59", a radius of
2,964.79 feet,a chord bearing and distance of South 84°36'55" West—805.57 feet and from which
a found 1/2" iron rod with cap stamped "SPIARS ENG" bears South 80'58'17" East,a distance of
0.90 feet;
With the north right-of-way line of said F.M.156 the following courses and distances:
With said non-tangent curve to the left in a southwesterly direction, an arc length of 808.07 feet to
a point for the most southerly southwest corner of said Lot 4, Block 1, Dave Addition, being in
centerline of Elizabeth Creek and the POINT OF BEGINNING of herein described tract of land
and the beginning of a non-tangent curve to the left having a central angle of 05°26'35", a radius
of 2,964.79 and a chord bearing and distance of South 74°05'09" West—281.54 feet;
With said non-tangent curve to the left in a southwesterly direction,an arc length of 281.65 feet to
a point;
South 81°12'39" West,a distance of 106.20 feet to a point for the beginning of a non-tangent curve
to the left having a central angle of 26°37'57", a radius of 2,984.79 feet and a chord bearing and
distance of South 56'02'18" West— 1,374.95 feet;
With said non-tangent curve to the left in a southwesterly direction, an arc length of 1,387.40 feet
to a point;
South 47'16'39" East, a distance of 20.00 feet to a point for the beginning of a non -tangent curve
to the left having a central angle of 0191'35", a radius of 2,964.79 feet and a chord bearing and
distance of South 42°07'32" West—61.73 feet;
With said non-tangent curve to the left in a southwesterly direction, an arc length of 61.73 feet to
a point;
South 41°31'45" West, a distance of 2,286.16 feet to a point for the beginning of a curve to the
left having central angle of 00'50'15", a radius of 4,683.66 feet and a chord bearing and distance
of South 41°06'37" West—68.46 feet;
With said curve to the left in a southwesterly direction, an arc length of 68.46 feet to a point in the
northerly right-of-way line of said F.M. 156;
THENCE North 47°51'10" West, departing the northerly right-of-way line of said F.M. 156,
crossing into said M.T. Cole Family Partnership No. 2,LP, a distance of 102.37 feet to a point;
THENCE North 41 000'36" West, a distance of 100.72 feet to a point;
THENCE North 47°51'l0" West, a distance of 888.32 feet to a point;
THENCE North 4191'45" East, a distance of 1,171.00 feet to a point;
THENCE North 19'04'13" East, a distance of 117.80 feet to a point;
THENCE North 419 F45" East, a distance of 75.59 feet to a point;
THENCE North 63°59'17" East, a distance of 117.80 feet to a point;
THENCE North 41°31'45" East, a distance of 888.30 feet to a point in the southerly line of a
certain tract of land described in deed to Forestar (USA) Real Estate Group, Inc. recorded in
Instrument Number 2018-27156, Deed Records, Denton County, Texas and the approximate
centerline of Elizabeth Creek;
THENCE with the approximate centerline of said Elizabeth Creek and with the southerly line of
said to Forestar(USA)Real Estate Group,Inc.tract the following courses and distances:
South 61°35'42" East, a distance of 77.25 feet to a point;
South 75°35'06" East, a distance of 572.39 feet to a point;
North 77'13'32" East, a distance of 487.75 feet to a point;
North 29°10'18" East,a distance of 163.71 feet to a point;
South 80°48'42" East, a distance of 175.36 feet to a point;
North 67'02'13" East, a distance of 406.53 feet to a point;
North 47°37'34" East, a distance of 257.66 feet to a point;
North 36°41'52" East, a distance of 119.87 feet to a point;
North 80°04'54" East, a distance of 80.79 feet to a point;
South 55°06'26" East, a distance of 248.69 feet to a point;
South 04°57'53" East, a distance of 134.41 feet to a point;
South 65°53'00" East, a distance of 67.91 feet to the POINT OF BEGINNING and containing a
calculated area of 3,257,120 square feet or 74.773 acres of land.
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City of Fort Worth,Texas
Mayor and Council Communication
DATE: 08/04/20 M&C FILE NUMBER: M&C 20-0496
LOG NAME: 17EDTARIZ100
SUBJECT
Conduct Public Hearing and Adopt Ordinance Designating Tax Abatement Reinvestment Zone No. 100,City of Fort Worth,Texas,for Property
Located at 15201 Blue Mound Road for the Development of a Regional Distribution Hub and Corporate Office for Ariat International,
Inc.(COUNCIL DISTRICT 7)
(PUBLIC HEARING-a.Report of City Staff:Robert Stums;b.Public Presentations;c.Council Action:Close Public Hearing and Act on M&C)
RECOMMENDATION:
It is recommended that the City Council:
1.Conduct Public Hearing concerning the designation of Tax Abatement Reinvestment Zone No. 100,City of Fort Worth,Texas,for property
located at 15201 Blue Mound Road;and
2.Adopt the attached ordinance designating Tax Abatement Reinvestment Zone No. 100,City of Fort Worth,Texas,pursuant to and in accordance
with Chapter 312 of the Texas Tax Code.
DISCUSSION:
The proposed Tax Abatement Reinvestment Zone No.100,City of Fort Worth,Texas will facilitate the development of an approximately 800,000
square-foot regional distribution hub and corporate office for Ariat International,Inc.at the Intermodal Logistics Center,which will be leased by
the company.Ariat International, Inc.will expend or cause to be expended a minimum of$43.0 M in construction costs and will locate taxable
business personal property having a minimum taxable appraised value of$30.0 million.
As required by Chapter 312 of the Texas Tax Code,a Public Hearing must be conducted regarding the creation or expansion of a Reinvestment
Zone.The exact boundaries of the proposed zone are described in Exhibit"A"of the attached ordinance. Notice of this 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 Tax Abatement Reinvestment Zone,pursuant to
Chapter 312 of the Texas Tax Code,in that the area is likely,as a result of the designation,to contribute to the expansion of the company's 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 for more than
10 years after designation of the Zone.
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.
The proposed zone is located in COUNCIL DISTRICT 7.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that approval of these recommendations will have no material effect on City funds.
Submitted for City Manager's Office by: Jay Chapa 5804
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Robert Sturns 2663